By all counts, the US dollar enjoyed another successful week against its major counterparts, striking 1-year highs of 96.27 (US dollar index).

According to analysts, the USD gained ground as investors flocked to the safety of the greenback amid risk aversion.

Note monthly supply on the US dollar index at 95.13-92.75 is now considered consumed, possibly clearing the runway north towards monthly resistance at 99.62.

The crisis in Turkey last week became global after the ECB expressed concerns on the effects of a weak Turkish currency on European banks.

The Turkish Lira (TRY) clocked fresh record lows and was down over 20% at one stage, after US President Trump announced he would be doubling up on tariffs on steel at 50% and aluminum at 20%.

As you can imagine, this placed the single currency under considerable pressure, ending the week down 1.35% against the USD.

Another big loser on the week was the British pound.

Amid ongoing Brexit uncertainty, political upheaval and BoE policy perceptions as ‘no deal’ prospects increased, the GBP concluded the week down 1.82% against the buck.

Technicals show cable conquered the 1.28 level on Friday, though is now facing potential buying pressure from both daily demand at 1.2716-1.2759 and also weekly demand coming in at 1.2589-1.2814.

With another week in the rear view mirror, let’s head over to the charts and see what opportunities recent movement uncovered…