Best Forex Signal Providers 2019-2020

What to know about Best Forex Signal Providers 2019-2020 The U.S. dollar index managed to close the week on a positive note after testing its medium-term bullish trend line supported by the investors rush to settle in a safe haven asset as the slowing global growth and a concern over the trade war continues to push the market on a defensive stance. After giving a strong bullish movement in the starting of the week by continuing the gaining streak the U.S. Dollar Index touched the weekly high of 96.98 and mostly traded with bullish sentiments last week and ended the week on a positive at 96.47 levels.

This week is expected to be a volatile week for the U.S. Dollar Index, as the investors are expected to follow the lead of the upcoming G20 meeting due on 30th November 2019 in Buenos Aires, where Chinese President Xi Jinping and U.S. President Donald Trump are expected to discuss future trade relations between the two countries.

Best Forex Signal Proiders

On technical technically ground The U.S. dollar index is in showing signals of a possible positive movement in near term by continuing its medium-term bullish trend with is still intact. However, the resistance zone near the level of 97.00 levels had shown its strength in recent times and the break of this level with a strong bullish candle is a must to give the bulls total control in the movement of the index. The overall market sentiments are positive for the U.S. Dollar which can result in continues bullish movement in the U.S. Dollar Index and can give bulls a chance to cross the resistance zone in near term. However, the movement in the U.S. Dollar Index will get affected by the development in the trade relationship between the U.S. and China which is expected to take a new heat wave in the upcoming G20 meeting.

USD/JPY

After the sharp corrective movement started in the pair USD/JPY in the third week of November which pushed the pair to test the support zone of 112.50 levels, USD/JPY pair managed to bounce back to positive territory and closed the last week on a slightly positive note at 112.91 levels.

This pair is going to get affected the most by the upcoming G20 meeting as the Investors who are expecting a workable deal between the U.S. and China out of the summit. As the U.S. had already set to increase the tariffs by 25 percent from previous 10 percent on $200 billion of Chinese imported goods in early 2019 which is keeping the investors on the back foot for so long.

Additionally, the U.S. President Donald Trump had threatened to impose another set of tariffs on the remaining Chinese imports which values around $267 billion if China fails to give a suitable offer to fulfill U.S. demands on trade. All this mix of news is going to dominate the movement of this pair in near term which can keep the movement in this pair highly volatile.

EUR/USD

Last week was a volatile week for Euro where the currency mostly traded with bearish sentiments and lost its ground in the starting of the week and continued its bearish movement by taking heat from the strong US Dollar and Brexit story which kept the investors on the back foot throughout the week for the Euro.

On the technical ground, the pair EUR/USD is giving signal of a potential fall in the price as the bearish pressure is still pushing the pair which can result in a sharp fall in the price in coming future. However, there is a possibility of a short bullish movement in this pair which can make the pair to test the level of 1.1400 levels. On the economic front the absence of any major economic event this week in European front the majority of the movement is expected to be driven by the series of speech from the ECB President Draghi and the movement of U.S Dollar which may keep the movement in the EUR/USD pair under pressure.

GBP/USD

GBP/USD again continued its highly volatile movement last week where it started the week with an indecision by making a marginally positive day candle and dropped in the followed day but recovered sharply in the middle of the week after the news of a positive development and support for the Brexit deal but soon goes out of the gas and lost all its gains and ended the week on a negative note.

On the technical ground, the short-term downtrend in the GBP is still intact and the pair can test the support zone near 1.2700 levels in near term. The break of this support zone with a negative development in the Brexit matter can result in a much deep correction in the GBP/USD pair as the Pound is still week across the board and the overall market sentiments for this pair is remains negative on the back of the Political concerns and the development in the final Brexit negotiation as vote in the British parliament is believed to take place after the next European Union summit due on Dec. 13-14 and traders are expected to remain cautious for this pair in coming future.

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