Entering another week, the strength of US Dollar has continued. The price action has led to a push of currency value in 2019. There are pullbacks showed in the US Dollar but until now, traders have remained motivated despite the pullbacks. They have been offering higher-low support on the chart at prior resistance intervals.

In observance of President’s Day, there is a holiday in the US so that the markets of stock and bond will be closed. The economic calendar then brings Fed to speak every day after that. The meeting minutes of FOMC regarding the decision of January rate will be released as well. Other than that, the economic calendar of next week will only have a handful of high impact prints which is rather shallow. 

The Economic Calendar for Next Week

On Tuesday, February 19 there will be topic of Economic Outlook and Monetary Policy. The next day we are going to see the meeting concerning Monetary Policy Forum in NYC. On to the next day, which is Wednesday, 20th of February we will then see the minutes of FOMC. It will be followed by Economy and Monetary Policy and Balance Sheet for the next two days.

What is Up With US Dollar

As the US Dollar price action has been strong, the currency then began to increase after a pullback. The investors’ responses to this was strong, because during the week it has been pushed up and getting another fresh high. But, now the prices hold support around the high swing. In conclusion, US Dollar bulls at 97.20 and the prices hold around 97.00.

The question now for forex learners is how long can this US Dollar bulls are able to be pushed higher. Especially, before another pullback that might be deeper shows up. In November and December it reached 97.71 level and if the currency can break above that, it would be the highest price action of US Dollar since two years ago, June of 2017.

EUR/USD Has Weakened

Because of the strength of US Dollar has been continued, the weakness in Euro is holding its lows. This is because the political risks have continued to show. As Spain becoming a concern and the elections in Europe are coming this May, there are still anti-establishment party which may affect the European Parliament status quo.

In its price action of EUR/USD, this currency pair is having another bounce earlier this week, which is in the long term support zone. The pair has held in the low support zone since November as the Italian budget has caused high fear amongst investors. Because swing-low was set, the prices were unable to break-lower.

The USD/JPY Recovery Continues

Still connecting with the US Dollar, the USD/JPY is still interesting. At the start of 2019, the currency pair came with lower price point as the strength of Japanese Yen was hugely driven by a safe-haven run. The day after New Year, however, the prices of this currency pair have been recovering varyingly.

The price action of USD/JPY has built in a short-term range. This week, bulls has pushed through and they have been higher than 111.00 level. But, there was bound to be a pullback and the prices went down to 110.30, but followed by the beginning of another bulls that provided forward push to the pair.

The question now, at this point, is if this was enough. Or, should the prices take a deeper pause of resistance? To keep yourself updated with this news, you can go to a broker website, Didimax, that provides news like this to keep forex learners stay updated with the forex news.