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  • #31
    Technical Overview of EUR/USD, GBP/USD and AUD/USD Currency Pairs

    EUR USD

    The EUR traded higher against the USD and closed at 1.1298.

    The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).

    According to the Analysis, The pair is expected to find support at 1.12584, and a fall through could take it to the next support level of 1.12189. The pair is expected to find its first resistance at 1.13304, and a rise through could take it to the next resistance level of 1.13629.

    Previous Day range was 72 and Current Day Range is 15.


    GBP USD

    The GBP traded higher against the USD and closed at 1.3071.

    The Average Earing Excluding Bonus released by the National Statistics is a key short-term indicator of how levels of pay are changing within the UK economy. It can be seen as a measure of growth in "basic pay". Generally speaking, the positive earnings growth anticipates positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).

    The ILO Unemployment Rate released by the National Statistics is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the UK Economy. If the rate is up, it indicates a lack of expansion within the U.K. labor market. As a result, a rise leads to weaken the U.K. economy. Generally, a decrease of the figure is positive (or bullish) for the GBP, while an increase is negative.

    The pair is expected to find support at 1.30368, and a fall through could take it to the next support level of 1.30023. The pair is expected to find its first resistance at 1.31180, and a rise through could take it to the next resistance level of 1.31647.

    GBP USD previous Day range was 81.2 and Current Day Range is 32.2.

    AUD USD

    The AUD traded higher against USD and closed at 0.7171.

    The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.

    According to the analysis, pair is expected to find support at 0.71273, and a fall through could take it to the next support level of 0.70835. The pair is expected to find its first resistance at 0.72035, and a rise through could take it to the next resistance level of 0.72359.

    AUD USD previous day range was 76.2 and current day range is 15.9.

    Comment


    • #32
      Technical Overview of USD/CAD, GBP/USD and USD/JPY Currency Pairs

      USD CAD

      The USD traded lower against the CAD and closed at 1.335.

      Consumer Price Index Core is released by the Bank of Canada. “Core” CPI excludes fruits, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transportation, and tobacco products. These volatile core 8 are considered as the key indicator for inflation in Canada. Generally speaking, a high reading anticipates a hawkish attitude by the BoC, and that is said to be positive (or bullish) for the CAD.

      According to the Analysis, The pair is expected to find support at 1.33294, and a fall through could take it to the next support level of 1.33094. The pair is expected to find its first resistance at 1.33861, and a rise through could take it to the next resistance level of 1.34228.

      Previous Day range was 56.7 and Current Day Range is 44.2.


      GBP USD

      The GBP traded higher against the USD and closed at 1.3043.

      Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.

      The Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or Bearish).

      The pair is expected to find support at 1.30231, and a fall through could take it to the next support level of 1.30031. The pair is expected to find its first resistance at 1.30812, and a rise through could take it to the next resistance level of 1.31193.

      GBP USD previous Day range was 58.1 and Current Day Range is 34.7.

      USD JPY

      The USD traded lower against JPY and closed at 112.012.

      James Bullard is the President of the Federal Reserve Bank of St. Louis. Dr. Bullard took office on April 1, 2008, as the twelfth chief executive of the Eighth District Federal Reserve Bank, at St. Louis. He is currently serving a full term that began March 1, 2011. In 2013, he serves as a voting member of the Federal Open Market Committee.

      According to the analysis, pair is expected to find support at 111.892, and a fall through could take it to the next support level of 111.772. The pair is expected to find its first resistance at 112.087, and a rise through could take it to the next resistance level of 112.162.

      USD JPY previous day range was 1950 and current day range is 2410.

      Comment


      • #33
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        Comment


        • #34
          Technical Overview of USD/CAD, GBP/USD and USD/JPY Currency Pairs

          USD CAD


          The USD traded lower against the CAD and closed at 1.335.

          Consumer Price Index Core is released by the Bank of Canada. “Core” CPI excludes fruits, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transportation, and tobacco products. These volatile core 8 are considered as the key indicator for inflation in Canada. Generally speaking, a high reading anticipates a hawkish attitude by the BoC, and that is said to be positive (or bullish) for the CAD.

          According to the Analysis, The pair is expected to find support at 1.33294, and a fall through could take it to the next support level of 1.33094. The pair is expected to find its first resistance at 1.33861, and a rise through could take it to the next resistance level of 1.34228.

          Previous Day range was 56.7 and Current Day Range is 44.2.


          GBP USD

          The GBP traded higher against the USD and closed at 1.3043.

          Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.

          The Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or Bearish).

          The pair is expected to find support at 1.30231, and a fall through could take it to the next support level of 1.30031. The pair is expected to find its first resistance at 1.30812, and a rise through could take it to the next resistance level of 1.31193.

          GBP USD previous Day range was 58.1 and Current Day Range is 34.7.

          USD JPY

          The USD traded lower against JPY and closed at 112.012.

          James Bullard is the President of the Federal Reserve Bank of St. Louis. Dr. Bullard took office on April 1, 2008, as the twelfth chief executive of the Eighth District Federal Reserve Bank, at St. Louis. He is currently serving a full term that began March 1, 2011. In 2013, he serves as a voting member of the Federal Open Market Committee.

          According to the analysis, pair is expected to find support at 111.892, and a fall through could take it to the next support level of 111.772. The pair is expected to find its first resistance at 112.087, and a rise through could take it to the next resistance level of 112.162.

          USD JPY previous day range was 1950 and current day range is 2410.

          Comment


          • #35
            Technical Overview of EUR/USD,
            USD/JPY and NZD/USD Currency Pairs

            EUR USD

            The EUR traded lower against the USD and closed at 1.1257.

            The Ifo Business Climate Index reflects the current economic situation and forecasts for the next six months from the point of view of German companies. The indicator is compiled based on a survey of more than seven thousand companies. A higher than expected reading is seen as favorable for the euro quotes, while lower readings are seen as negative.

            According to the Analysis, The pair is expected to find support at 1.12411, and a fall through could take it to the next support level of 1.12254. The pair is expected to find its first resistance at 1.12672, and a rise through could take it to the next resistance level of 1.12776.

            Previous Day range was 26.1 and Current Day Range is 15.8.


            USD JPY

            The USD traded lower against the JPY and closed at 111.931.

            The New Home Sales indicator reflects sales of newly constructed residences in the United States in the specified month. It measures new single-family home sales.

            The indicator is used for measuring the US housing market conditions. Index growth may have a positive effect on dollar quotes.

            The pair is expected to find support at 111.851, and a fall through could take it to the next support level of 111.772. The pair is expected to find its first resistance at 112.000, and a rise through could take it to the next resistance level of 112.070.

            USD JPY previous Day range was 1490 and Current Day Range is 3240.

            NZD USD

            The NZD traded lower against USD and closed at 0.6677.

            According to the analysis, pair is expected to find support at 0.66701, and a fall through could take it to the next support level of 0.66629. The pair is expected to find its first resistance at 0.66870, and a rise through could take it to the next resistance level of 0.66967.

            NZD USD previous day range was 16.9 and current day range is 13.


            Comment


            • #36
              Technical Overview of CAD/CHF,
              GBP/AUD, USD/CHF and GBP/CAD Currency Pairs

              CAD CHF


              The CAD traded lower against the CHF and closed at 0.7575.

              CAD CHF formed a Mother Bar Inside Bar @ the Quarterly and Yearly Pivots.
              It's in a range now.

              Scenario 1: In order to Go Bullish it needs to Break the upper Mother Bar High of 0.76000 and make a retest with LOW VOLUME to ensure that all supply from market is over.

              Scenario 2: In order to be bearish it needs to push through the Quarterly /Yearly Pivots (0.75469) then the Low of Mother Br, A successful test with LOW VOLUME is required to ensure that all Demand has ended...

              According to the Analysis, The pair is expected to find support at 0.75586, and a fall through could take it to the next support level of 0.75425. The pair is expected to find its first resistance at 0.75897, and a rise through could take it to the next resistance level of 0.76047.

              Previous Day range was 31.1 and Current Day Range is 16.2.

              GBP AUD


              The GBP traded lower against the AUD and closed at 1.8337.

              GBPAUD formed a Mother Bar Inside Bar @ the Yearly Pivots Middle R1
              It's in a range now.

              Scenario 1: In order to Go Bullish it needs to Break the upper Mother Bar High of 1.8448 and make a retest with LOW VOLUME to ensure that all supply from market is Over .

              Scenario 2: In order to be bearish it needs to push through the Quarterly (1.8275) then the Low of Mother Bar, (1.8200)
              Break Below Quarter Pivot may confluence with the Previous Day Candle Low Broken .A successful test with LOW VOLUME is required to ensure that all Demand has ended...

              The pair is expected to find support at 1.82996, and a fall through could take it to the next support level of 1.82621. The pair is expected to find its first resistance at 1.83840, and a rise through could take it to the next resistance level of 1.84309.

              GBP AUD previous Day range was 84.4 and Current Day Range is 38.7.

              USD CHF


              The USD traded lower against CHF and closed at 1.0197.

              USDCHF formed a Mother Bar Inside Bar @ the Quarterly and Yearly Pivots.
              It's in a range now.

              Scenario 1: In order to Go Bullish it needs to Break the upper Mother Bar High + MQR2 1.0241 and make a retest with LOW VOLUME to ensure that all supply from market is Over .

              Scenario 2: In order to be bearish it needs to push through the Quarterly Resistance (1.0143) the Low of Mother Bar is the almost the same value, A successful test with LOW VOLUME is required to ensure that all Demand has ended...

              The Pair has been in range between Pivots since 7 days

              According to the analysis, pair is expected to find support at 1.01754, and a fall through could take it to the next support level of 1.01534. The pair is expected to find its first resistance at 1.02280, and a rise through could take it to the next resistance level of 1.02586.

              USD CHF previous day range was 52.6 and current day range is 12.

              GBP CAD


              The GBP traded higher against CAD and closed at 1.7384.

              GBPCAD formed a Multiple Mother Bar in side Bar It's in a range now.
              Its in a range of Pivots ( Quarterly and Yearly ) 1.7315-1.7463

              The Pair has been In range between Pivots since 19 days
              Once breakout occurs The pair may lead to a prominent trend

              According to the analysis, pair is expected to find support at 1.73558, and a fall through could take it to the next support level of 1.73274. The pair is expected to find its first resistance at 1.74190, and a rise through could take it to the next resistance level of 1.74680.

              GBP CAD previous day range was 63.2 and current day range is 22.
              https://xtreamforex.com/academy/tech...urrency-pairs/

              Comment


              • #37
                Technical Overview of GBP/USD, GBP/JPY and NZD/USD Currency Pairs

                GBP USD

                The GBP traded higher against the USD and closed at 1.3029.

                The pair formed an Outside/Inside bar. Exactly on the monthly Pivot with a series of LH and LL
                It formed a Fibonacci setup called AB=CD.

                Scenario 1=A break above the Outside bar high and trend line may trigger bullish momentum.
                Scenario 2- A break below the outer bar low and trend line may lead the pair downwards.

                Employment Report for April increased by nearly 200,000 in March, while unemployment rate stood steady at 3.8 percent. The ISM Non-Manufacturing PMI for April rate of the services sector expansion slowed down in March, but the index remains at an elevated level of slightly more than 56 percent.

                According to the Analysis, The pair is expected to find support at 1.30043, and a fall through could take it to the next support level of 1.29800. The pair is expected to find its first resistance at 1.30667, and a rise through could take it to the next resistance level of 1.31048.

                GBP USD Previous Day range was 62.4 and Current Day Range is 23.6.

                GBP JPY

                The GBP traded higher against the JPY and closed at 145.235.

                The pair formed an Outside/Inside bar. Exactly on the monthly AND yearly Pivot with a series of LH and LL
                It formed a Fibonacci setup called AB=CD
                Scenario 1=A break above the Outside bar high and trend line may trigger bullish momentum.
                Scenario 2- A break below the outer bar low and trend line may lead the pair downwards

                The pair is expected to find support at 144.914, and a fall through could take it to the next support level of 144.592. The pair is expected to find its first resistance at 145.698, and a rise through could take it to the next resistance level of 146.160.

                GBP JPY previous Day range was 7840 and Current Day Range is 1700.

                NZD USD

                The NZD traded higher against USD and closed at 0.6616.

                1- H4 Outside bar Inside bar.
                2- Pivot high candles forming a trend line.

                Scenario 1=A break above the Outside bar high and trend line may trigger bullish momentum.
                Scenario 2- A break below the outer bar low and trend line may lead the pair downwards
                According to the analysis, pair is expected to find support at 0.66029, and a fall through could take it to the next support level of 0.65896. The pair is expected to find its first resistance at 0.66344, and a rise through could take it to the next resistance level of 0.66526.

                NZD USD previous day range was 31.5 and current day range is 18.4.

                Comment


                • #38
                  Technical Overview of CHF/JPY and EUR/AUD Currency Pair

                  CHF JPY

                  The CHF traded higher against the JPY and closed at 108.824.

                  The followed the following actions.

                  1 - It broke he Monthly support upwards
                  2 - It broke the Quarterly support upwards
                  3 - Formed A Resistance Trend Line and broke it to the upside
                  4 - The Daily 9 ema is to the upside
                  5 - If the pair breaks the Up 127 extension then we may see an extended move
                  or
                  6 - If the pair breaks the down 127 extension then this may be a double top.
                  According to the Analysis, The pair is expected to find support at 108.467, and a fall through could take it to the next support level of 108.111. The pair is expected to find its first resistance at 109.076, and a rise through could take it to the next resistance level of 109.329.

                  CHF JPY Previous Day range was 6090 and Current Day Range is 2530.

                  EUR AUD

                  The EUR traded higher against the AUD and closed at 1.6245.

                  The followed the following actions.

                  1- It broke the Quarterly Pivot upwards.
                  2 - Making a series of HH and HL.
                  3 - Formed A Support Trend Line.
                  4 - The Daily 9 ema is to the upside.
                  5 - If the pair breaks the Up 127 extension then we may see an extended move.
                  or
                  6 - If the pair breaks the down 127 extension then this may be a double top.
                  7 - The up 127 Extension is in confluence with Quarter and Year Resistance.

                  According to the Analysis, The pair is expected to find support at 1.62134, and a fall through could take it to the next support level of 1.61818. The pair is expected to find its first resistance at 1.62689, and a rise through could take it to the next resistance level of 1.62928.

                  EUR AUD Previous Day range was 55.5 and Current Day Range is 89.4.

                  Fundamental Overview

                  Inflation in the euro area is not at the level of 2% the ECB wants it to be, the ECB policy maker Klaas Knot says.

                  Japan: GDP shows strong fundamentals are supporting demand US Pres. Trump: “Starting Monday, our great Farmers can begin doing business again with Mexico and Canada.

                  Comment


                  • #39
                    Technical Overview of EUR/AUD Currency Pair

                    EUR AUD

                    The EUR traded higher against the AUD and closed at 1.6201.

                    I have been watching this pair since 4 days as it has many aspects lying inside it.

                    1 - Making a series of HH and HL.
                    2 - Formed a Motherbar Inside bar @ D1.
                    3 - In confluence with.
                    Quarter Pivot
                    Yearly and Quarter Resistance
                    5 DAY ADR
                    3 - Formed A Support Trend Line.

                    Break above 127 Extension may form a Bullish Momentum.
                    Break below 127 Extension may form a Bearish Momentum.

                    According to the Analysis, The pair is expected to find support at 1.61709, and a fall through could take it to the next support level of 1.61406. The pair is expected to find its first resistance at 1.62347, and a rise through could take it to the next resistance level of 1.62682.

                    EUR AUD Previous Day range was 63.8 and Current Day Range is 61.3.

                    Fundamental Overview

                    Market is Over Extended

                    1 - We may see a Weakness in GBP as 3 of its High Impact news are not in a positive zone.
                    2 - Westpac Now Forecasts 3 RBA Interest-Rate Cuts in 2019.
                    3 - It confirmed that market is in a state of Risk Aversion/Risk Off.

                    Comment


                    • #40
                      Technical Overview of USD/JPY and EUR/AUD Currency Pair

                      USD JPY

                      The USD traded lower against the JPY and closed at 109.483.

                      1) Pair stalls between the quarter and year pivot.
                      2) Keep in mind that market is in RISK AVERSION.
                      3) Breakout of 127 extension may lead the pair to a short trend.

                      According to the Analysis, The pair is expected to find support at 109.314, and a fall through could take it to the next support level of 109.144. The pair is expected to find its first resistance at 109.618, and a rise through could take it to the next resistance level of 109.752.

                      USD JPY Previous Day range was 3040 and Current Day Range is 2010.

                      EUR AUD

                      The EUR traded lower against the AUD and closed at 1.6176.

                      1) PIVOT support line broken.
                      2) Market is below the golden cross EMA.
                      3) 127 Extensions level may decide the move direction.

                      According to the Analysis, The pair is expected to find support at 1.61570, and a fall through could take it to the next support level of 1.61376. The pair is expected to find its first resistance at 1.61917, and a rise through could take it to the next resistance level of 1.62070.
                      EUR AUD Previous Day range was 34.7 and Current Day Range is 47.

                      Comment


                      • #41
                        Technical Overview of AUD/JPY Currency Pair

                        AUD JPY

                        The AUD traded higher against the JPY and closed at 75.703.

                        1) Pair in a tight range.
                        2) Pair forms a Support @ 77.50.
                        3) keep in mind that AUD announces time rate Cut in 2019 and total 4 times till 2020.
                        4) So it makes no sense to waiting for resistance to be broker as we know JPY is safe heaven in this RISK Aversion state.

                        According to the Analysis, The pair is expected to find support at 75.517, and a fall through could take it to the next support level of 75.330. The pair is expected to find its first resistance at 75.919, and a rise through could take it to the next resistance level of 76.134.
                        AUD JPY Previous Day range was 4020 and Current Day Range is 2230.

                        Economic Events

                        1) RBNZ Financial Stability Report (It provides insights into the bank's view of inflation, growth, and other economic conditions that will affect interest rates in the future).
                        2) Bank of Canada (BOC) Interest Rate Announcement.
                        3) GBP/USD: UK’s political uncertainty favors bears targeting 1.2600.

                        For Detailed Technical Analysis Visit our YouTube Channel.

                        Comment


                        • #42
                          Overview of Gold – Bearish Sentiment Seen in This Week

                          The XAU traded lower against the USD and closed at 1280.34.

                          What do we have in the shiny material?
                          1) Bearish ABCD Pattern.
                          2) "C" @ 50% Retracement.
                          3) "C" @ Monthly Pivot.
                          4) "C" @ the Value Area Low of - 2 Week.
                          5) "C" forms a Double Top in it - self, followed by 61.8% retracement.
                          6) Forms a support trendline from D1 Pivot Candles.

                          Scenarios:
                          1. Bulls need to break above Month Pivot.
                          2. Bears need to break below the D1 support trend line.
                          According to the Analysis, The XAU/USD pair is expected to find support at 1277.77, and a fall through could take it to the next support level of 1275.20. The pair is expected to find its first resistance at 1284.25, and a rise through could take it to the next resistance level of 1288.16.

                          XAU USD Previous Day range was 6.48 and Current Day Range is 31100.

                          Comment


                          • #43
                            Technical Overview of the Commodities Gold and Silver

                            Overview of Gold
                            1) It is expected, that the price for gold could continue to decline. A potential downside target is the support level at 1,273 & Stalls @ the monthly pivot.
                            2) As it has formed a Large Bullish High volume Candle, It represents that the aggressive news buying is over and if the Highs r not broken then we may see it to decline again.
                            3) It’s making a series of Lower Highs and Lower Lows, Representing a declining position.
                            4) It’s in a formation of Gartley Pattern.
                            5) The D1 Price and Change in Candle Chart below For May 2019. We can see whenever the price and change in candle r in close proximity with each other they repell, triggering a change in trend.

                            Overview of Silver
                            1) It is expected, that the price for silver could continue to decline.
                            2) From the past 10 weeks, Silver is declining and making a series of Lower Lows and Higher Lows.
                            3) Now the Metal made a High Volume Candle.
                            4) At the Weekly Pivot.
                            5) Below the Last week Pivot.
                            6) At the previous and current Value Area High.
                            7) Test of 20 EMA from Daily 1 Chart.
                            8) A break below close below candle may trigger a selling bias again.
                            9) With Strong support @ SUP1 Week 1 = 14.38.
                            10) With Strong Support @ SUP2 Month 1 =14.36.

                            Comment


                            • #44
                              Technical Overview of AUD/CAD and AUD/CHF Currency Pair

                              AUD CAD

                              The AUD traded higher against the CAD and closed at 0.9174.


                              1-After making a down move of 406 pips, the pair begin ascending.
                              2 - It’s above the 60/80 ema.
                              3 - Its above the weekly and monthly Pivot.
                              4 - It formed a Double Top Pattern, A breakout above the 127 Extension may lead the pair to covet the space made by 406 Pip down Move.
                              5 - If we have a look at the Futures data then we may see that the slope of AUD is towards UP side and CAD is towards Down.

                              According to the Analysis, The pair is expected to find support at 0.93363, and a fall through could take it to the next support level of 0.92984. The pair is expected to find its first resistance at 0.94012, and a rise through could take it to the next resistance level of 0.94282.
                              AUD CAD Previous Day range was 64.9 and Current Day Range is 30.3.

                              AUD CHF

                              The AUD traded lower against the CHF and closed at 0.6941.

                              1 - The Pair formed a double top.
                              2 - It could not breach the Up extension off 127 hence it confirms a double top.
                              3 - The 60/80 ema is facing towards down.
                              4 - Fundamentally as we know market is in Risk Off Scenario so we can gain help from the strength of Safe Heaven CHF to support this trade.
                              5 - A space with many Open orders left to cover while going towards the down side remaining.
                              6 - Pair is below the Yearly, Quarterly, Monthly and weekly forming a Proper Sync formation of trend.

                              According to the Analysis, The pair is expected to find support at 0.69279, and a fall through could take it to the next support level of 0.69151. The pair is expected to find its first resistance at 0.69624, and a rise through could take it to the next resistance level of 0.69841.
                              AUD CHF Previous Day range was 34.5 and Current Day Range is 37.1.

                              Weekly Briefing

                              On Sunday, the Chinese government published a paper in which it was announced that China will not back off in the US-China trade war despite recent tariffs.
                              The Chinese securities and markets regulators announced that the impact of trade wars on financial markets can be controlled.
                              This may Strengthen The CNY because a few days earlier the officials said that those who short the CNY will face many Losses.

                              The Saudi Arabian Monetary Authority stated on Sunday steady slowdown of world economy growth could negatively affect oil market and, as a result, the country's economy temps of growth. It signals that when there will be instability then Who WILL BUY OIL? The Supply may exceed Demand.

                              The J.P. Morgan analytics department stated on Saturday that escalating trade tensions with China and other countries could force the Federal Reserve to hike interest rates two more times in 2019- High interest Rate = Strength of the Economy

                              A fundamental surge has occurred. Due to another Trump tariff announcement the USD dropped like a brick. As a result of that commodity prices have jumped. Gold touched the 1,300.00 level on Friday.

                              For Detailed Technical Analysis Visit XtreamForex YouTube Channel.

                              Comment


                              • #45
                                Technical Overview of NZD/CAD Currency Pair

                                NZD CAD

                                The NZD traded higher against the CAD and closed at 0.8849.
                                • Very Interesting pair for now.
                                • Main trend aka 60/80 Ema is towards south.
                                • The pair made a Pivot low candle support trend line.
                                • It formed a Mb/Ib.
                                • It’s above weekly Pivot and has formed a CUP Pattern.
                                • A break above/below 127 extension may form a breakout.
                                • Remember yesterday it was announced to stay long on NZDCAD.
                                • Keep in mind that NZD is the most Interest paying nation for now.
                                • The rate of change in Currency strength meter shows that NZD is the most strongest for now.
                                According to the Analysis, The pair is expected to find support at 0.88361, and a fall through could take it to the next support level of 0.88235. The pair is expected to find its first resistance at 0.88672, and a rise through could take it to the next resistance level of 0.88857.
                                NZD CAD Previous Day range was 31.1 and Current Day Range is 37.8.

                                Morning Briefing
                                • USD: The U.S. dollar was modestly lower on Tuesday after Federal Reserve Chair Jerome Powell alluded to the possibility of an interest rate cut in the face of economic risks, including the global trade war.
                                • EURGBP: Weakening of domestic data in UK combined with euro spread compression, the EUR/GBP could move towards 0.90.
                                • Believe tactical EUR/SEK short positions remain attract.. Also maintain our CAD/NOK short and EUR/GBP long exposure.
                                • Short USD/JPY than long EUR/USD. Short EUR/JPY still works.
                                • There’s a bit more AUD short-covering to come.
                                • AUD/USD Traders A Green Light To Sell.
                                News of the Day!

                                AUD GDP to be announced today.
                                As we can see in the history we have a decline situation. Due to Weaker retail sales, weaker employment and ewages data, so it’s expected to have a weaker GDP for now.
                                To have a better GDP, The AUD must have readings above 0.40%.

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