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  • #61
    Technical Overview of EUR/AUD, AUD/JPY and GBP/AUD Currency Pair


    EUR AUD

    EUR traded higher against AUD and closed at 1.5936.

    Below 200 and 50 EMA.
    Making a series of Lower Highs and Lower Lows.
    A Bearish/Resistance Trend line Formed.
    Better option is to trade the strength of AUD and Remain short.
    Alternatively
    Go long if the pair breaches the Resistance Trend Line.

    According to the Analysis, pair is expected to find support at 1.58949 and a fall through could take it to the next support level of 1.58541. The pair is expected to find its first resistance at 1.60044, and a rise through could take it to the next resistance level of 1.60731.

    AUD JPY

    AUD traded higher against JPY and closed at 75.898.

    The pair is in a Weekly MBIB formation.
    The pair slashed the Daily and Weekly Highs.
    Making a triangle formation as well on the H4.
    It’s above 50 and 200 EMA Breakout Levels Marked.
    Target the breakout of 127 Extension on either side.

    According to the Analysis, pair is expected to find support at 75.563 and a fall through could take it to the next support level of 75.227. The pair is expected to find its first resistance at 76.109, and a rise through could take it to the next resistance level of 76.319.

    GBP AUD

    GBP traded higher against AUD and closed at 1.773.

    Perfect Example of Currency Strength Analysis.
    Strength of AUD leads the pair to South.
    The recent bearish News on the Pound supports the movement.
    It has already breached through Weekly Lows and is below 200 and 50 EMA.
    For now it's in a Daily Chart Mother bar inside Bar.
    A break below will be trend continuation.

    According to the Analysis, pair is expected to find support at 1.76797 and a fall through could take it to the next support level of 1.76296. The pair is expected to find its first resistance at 1.77716, and a rise through could take it to the next resistance level of 1.78134.

    For Detailed analysis visit XtreamForex YouTube Channel.

    Comment


    • #62
      Technical Overview of EUR/USD and GBP/USD Currency Pair

      EUR USD

      EUR traded lower against USD and closed at 1.1121.

      Staying Tactically Bearish For 1.1050; A 50bp Fed Cut Would Be A Game Changer.

      According to the Analysis, pair is expected to find support at 1.12150 and a fall through could take it to the next support level of 1.11543. The pair is expected to find its first resistance at 1.14118, and a rise through could take it to the next resistance level of 1.14725.

      GBP USD

      GBP traded higher against USD and closed at 1.2343.

      To New 2019 Low As EU Affirms No Reopening Of Brexit Deal.

      According to the Analysis, pair is expected to find support at 1.25558 and a fall through could take it to the next support level of 1.24902. The pair is expected to find its first resistance at 1.27682, and a rise through could take it to the next resistance level of 1.28338.

      COT Report for Different Currencies this week

      COT Report for Swisse
      Swissie Net Commercials volume is above the 0 mark and in a positive side showing Net Long positions in strength.
      Its a wise decision to remain Long on swissie.

      COT Report for Canadian Dollar
      Here In Canadian Dollar Net Commercials we see that from the 11th June- 18th June.
      The Canadian Dollar has weighted towards a Net Commercial Short Position.
      Means that Shorting Canadian Will be a wise decision, Alternatively Going Long on the retracements can also be entertained.

      COT Report for US Dollar
      US Dollar Net Commercial Positions Weighs towards the Net Short side.
      It can be clearly seen that from the Year start , the commercials have been interested in shorting the US Dollar.

      COT Report for GBP
      After facing turbulance from 19 March to almost a month ,GBP Net commercials weigh towards the Long Net Positions.
      GBP may show some reaction to the COT Report this week.

      For Detailed analysis visit XtreamForex YouTube Channel.

      Comment


      • #63
        Technical Overview of AUD/USD, GBP/USD and USD/JPY Currency Pair

        AUD USD

        AUD traded lower against USD and closed at 0.6756.
        • AUD/USD remains upbeat as the RBA renounce from the policy change.
        • The central bank stepped back from suggesting further rate cuts.
        • Trade/political news will be followed for fresh impulse.
        According to the report of The Reserve Bank of Australia (RBA), there will be no change in the monetary policy, offers a 1.0% interest rate. The central bank avoid from supporting further rate cuts while leaving the door open based on future growth conditions. Earlier during the day, upbeat trade balance data for June also pleased Aussie buyers.
        According to the Analysis, pair is expected to find support at 0.678 and a fall through could take it to the next support level of 0.677. The pair is expected to find its first resistance at 0.6797 and a rise through could take it to the next resistance level of 0.6803.

        GBP USD

        GBP traded higher against USD and closed at 1.2143.
        • GBP/USD stays on defensive 100 hour exponential moving average.
        • 4-day old support-line seems immediate rest ahead of 1.2080.

        According to the Analysis, pair is expected to find support at 1.2101 and a fall through could take it to the next support level of 1.2057. The pair is expected to find its first resistance at 1.2189, and a rise through could take it to the next resistance level of 1.2233.

        USD JPY

        USD traded higher against JPY and closed at 105.9500.

        The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time. GDP is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing. A high reading or a better than expected number is seen as positive for the JPY, while a low reading is negative.
        Previous reading for Gross Domestic Product was 0.6%.
        Expected GDP is 0.1%.

        According to the Analysis, pair is expected to find support at 106.43 and a fall through could take it to the next support level of 106.17. The pair is expected to find its first resistance at 107.02, and a rise through could take it to the next resistance level of 107.36.

        Comment


        • #64
          Technical Overview of NZD/USD, EUR/USD and USD/CNY Currency Pair

          NZD USD

          NZD traded lower against USD and closed at 0.6446.
          • Lower than expected USD/CNY fix and comments from RBNZ calming markets.
          • RBNZ asst Governor Hawkes by is confident inflation will rise after 50 BP cut.
          • Hawkes by said unconventional tools an option only if inflation tanks.
          • NZD/USD resistance at former support at 0.6480/90 where sellers are tipped.
          The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time. GDP is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing. A high reading or a better than expected number is seen as positive for the JPY, while a low reading is negative. According To consensus GDP rate is expected to be lower than previous rate.
          According to the Analysis, pair is expected to find support at 0.6455 and a fall through could take it to the next support level of 0.6452. The pair is expected to find its first resistance at 0.6461 and a rise through could take it to the next resistance level of 0.6463.

          EUR USD

          EUR traded higher against USD and closed at 1.1199.

          Danske Research discusses EUR/USD outlook and expects a dip back towards 1.10 in EUR/USD on 1-3M on yet another Fed disappointment in September.

          According to the Analysis, pair is expected to find support at 1.1211 and a fall through could take it to the next support level of 1.1209. The pair is expected to find its first resistance at 1.1214, and a rise through could take it to the next resistance level of 1.1216.

          USD CNY

          USD traded lower against CNY and closed at 7.0602.

          USD/CNY fix at 7.0039, which was below market estimates.

          The Consumer Price Index is released by the National Bureau of Statistics of China. It is a measure of retail price variations within a representative basket of goods and services. The result is a comprehensive summary of the results extracted from the urban consumer price index and rural consumer price index. The purchase power of the CNY is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A substantial consumer price index increase would indicate that inflation has become a destabilizing factor in the economy, potentially prompting The People’s Bank of China to tighten monetary policy and fiscal policy risk. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative (or Bearish) for the CNY.

          According to the Analysis, pair is expected to find support at 7.0359 and a fall through could take it to the next support level of 7.0116. The pair is expected to find its first resistance at 7.0749, and a rise through could take it to the next resistance level of 7.0896.

          Comment


          • #65
            Technical Overview of AUD/USD, GBP/USD and USD/CAD Currency Pair

            AUD USD

            AUD traded lower against USD and closed at 0.6802.
            • RBA quarterly SOMP just released is in line with dovish market assumptions
            • RBA notes the downside risks posed by US-China trade war escalation
            • AUD/USD off early high (0.6822), but still holding above 0.6800
            The RBA Monetary Policy Statement released by the Reserve bank of Australia reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. It is considered as a clear guide to the future RBA interest rate policy. Any changes in this report affect the AUD volatility. If the RBA statement shows a hawkish outlook, that is seen as positive (or bullish) for the AUD, while a dovish outlook is seen as negative (or bearish).

            According to the Analysis, pair is expected to find support at 0.6713 and a fall through could take it to the next support level of 0.6666. The pair is expected to find its first resistance at 0.6789 and a rise through could take it to the next resistance level of 0.6818.

            GBP USD

            GBP traded higher against USD and closed at 1.2133.

            The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).

            According to the Analysis, pair is expected to find support at 1.2113 and a fall through could take it to the next support level of 1.2082. The pair is expected to find its first resistance at 1.2182, and a rise through could take it to the next resistance level of 1.2221.

            USD CAD

            USD traded lower against CAD and closed at 1.3227.

            The employment Change released by the Statistics Canada is a measure of the change in the number of employed people in Canada. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive, or bullish for the CAD, while a low reading is seen as negative or bearish.

            The Unemployment Rate released by the Statistics Canada is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the Canadian Economy. If the rate is up, it indicates a lack of expansion within the Canadian labor market. As a result, a rise leads to weaken the Canadian economy. Normally, a decrease of the figure is seen as positive (or bullish) for the CAD, while an increase is seen as negative or bearish.

            According to the Analysis, pair is expected to find support at 1.3279 and a fall through could take it to the next support level of 1.3251. The pair is expected to find its first resistance at 1.334, and a rise through could take it to the next resistance level of 1.3373.

            Comment


            • #66
              Technical Overview of AUD/USD, USD/JPY and USD/CHF Currency Pair

              AUD USD

              AUD traded higher against USD and closed at 0.6747.
              • AUD/USD maintaining bid tone as markets send mixed signals regarding risk.
              • US yields hitting historic lows in Asia with 30-year yield below 2.0%.
              • Bond market is pricing in strong chance of recession nL4N25B0GG.
              • Despite moves in US Treasuries. S&P futures up over 0.40%.
              • AUD/USD steady around 0.6775 - up 0.41% after better than expected Aus jobsnAZN0QH300.
              • Unless bond market wrong, AUD/USD should struggle on global growth concerns.
              • AUD/USD resistance at 0.6820/35 where daily highs converge with 38.2 fibo.

              According to the Analysis, pair is expected to find support at 0.6738 and a fall through could take it to the next support level of 0.6721. The pair is expected to find its first resistance at 0.6794 and a rise through could take it to the next resistance level of 0.6811.

              USD JPY

              USD traded lower against JPY and closed at 105.89.

              Retail Sales m/m reflect a change in the US retail sails in the reported month compared to the previous one. The indicator is calculated based on statistics received from 5,000 retail stores of different types and sizes, and the data are then extrapolated to the whole country.
              The indicator is used for estimating inflation. Its growth may have a positive effect on dollar quotes.

              According to the Analysis, pair is expected to find support at 105.70 and a fall through could take it to the next support level of 105.48. The pair is expected to find its first resistance at 106.44, and a rise through could take it to the next resistance level of 106.66.

              USD CHF

              USD traded higher against CHF and closed at 0.9732.

              According to the Analysis, pair is expected to find support at 0.9712 and a fall through could take it to the next support level of 0.9697. The pair is expected to find its first resistance at 0.9762, and a rise through could take it to the next resistance level of 0.9777.

              According to Citi Research report "With risk sentiment continuing to deteriorate by the week, investors may look to extend risk aversion trades into 2020 as:

              (1) Worsening US – China trade tensions risk a disinflationary impulse from CNY heading towards 7.25 - 50;
              (2) Possible risk of USD intervention by the US;
              (3) Rising odds of a “No Deal” Brexit;
              (4) Re-emergence of Italy political risk;
              (5) Slowing global growth leading to central bank policy responses and a “race to the bottom” in rates sparking a currency war;
              (6) Potential damage to US – Japan/ Europe trade relations should Trump impose tariffs on auto imports;
              (7) 2020 - US presidential election year leaves scope for a more aggressive Trump;
              (8) Tensions in HK, Iran, North Korea, now Argentina and India – Pakistan,"

              Comment


              • #67
                Technical Overview of USD/CAD, USD/JPY and EUR/USD Currency Pair

                USD CAD

                USD traded lower against CAD and closed at 1.3323.

                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, pair is expected to find support at 1.3270 and a fall through could take it to the next support level of 1.3250. The pair is expected to find its first resistance at 1.3304 and a rise through could take it to the next resistance level of 1.3338.

                USD JPY

                USD traded lower against JPY and closed at 106.62.

                FOMC stands for The Federal Open Market Committee that organizes 8 meetings in a year and reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. FOMC Minutes are released by the Board of Governors of the Federal Reserve and are a clear guide to the future US interest rate policy.

                According to the Analysis, pair is expected to find support at 106.36 and a fall through could take it to the next support level of 106.25. The pair is expected to find its first resistance at 106.70, and a rise through could take it to the next resistance level of 106.81.

                EUR USD

                EUR traded higher against USD and closed at 1.1087.

                According to the Analysis, pair is expected to find support at 1.1075 and a fall through could take it to the next support level of 1.1066. The pair is expected to find its first resistance at 1.1105, and a rise through could take it to the next resistance level of 1.1114.

                Comment


                • #68
                  Technical Overview of GBP/USD, NZD/USD and USD/CHF Currency Pair

                  GBP USD

                  GBP traded lower against USD and closed at 1.2130.

                  GBP/USD seesaws inside a choppy range between 10 and 21-DMA.
                  MACD flashes bullish signal.

                  The Jackson Hole Economic Policy Symposium is an annual symposium sponsored by the Federal Reserve Bank of Kansas City since 1978, and held in Jackson Hole, Wyoming, since 1981. It is a forum for central bankers, policy experts and academics to come together to focus on a topic.

                  According to the Analysis, pair is expected to find support at 1.2108 and a fall through could take it to the next support level of 1.2086. The pair is expected to find its first resistance at 1.2156 and a rise through could take it to the next resistance level of 1.2181.

                  NZD USD

                  NZD traded lower against USD and closed at 0.6404.

                  Retail Sales m/m reflect a change in New Zealand's retail sales in the reported month compared to the previous one. The calculation is adjusted for inflation. The index is often referred to as the consumer spending indicator, which allows assessing inflation in New Zealand. The indicator growth can have a positive effect on NZD quotes.

                  Jerome H. Powell took office as a member of the Board of Governors of the Federal Reserve System on May 25, 2012, to fill an unexpired term. On November 2, 2017, President Donald Trump nominated Powell to serve as the next Chairman of the Federal Reserve. Powell assumed office as Chair on February 5, 2018.

                  According to the Analysis, pair is expected to find support at 0.6393 and a fall through could take it to the next support level of 0.6381. The pair is expected to find its first resistance at 0.6418, and a rise through could take it to the next resistance level of 0.6431.

                  USD CHF

                  USD traded higher against CHF and closed at 0.9819.

                  The number of New Home Sales released by the US Census Bureau is an important measure of housing market conditions. House buyers spend money on furnishing and financing their homes so as a result the demand for goods, services and the employees is stimulated. Generally, a high reading is seen as bullish for the USD, whereas a low reading is seen as bearish.

                  According to the Analysis, pair is expected to find support at 0.9790 and a fall through could take it to the next support level of 0.9868. The pair is expected to find its first resistance at 0.9848, and a rise through could take it to the next resistance level of 0.9868.

                  Comment


                  • #69
                    Technical Overview of NZD/USD and USD/CHF Currency Pair

                    NZD USD

                    NZD traded lower against USD and closed at 0.6362.

                    NZD/USD's daily chart indicators are reporting early signs of a bullish reversal.
                    Trend reversal would be confirmed above Monday's high.

                    According to the Analysis, pair is expected to find support at 0.6351 and a fall through could take it to the next support level of 0.6340. The pair is expected to find its first resistance at 0.6379 and a rise through could take it to the next resistance level of 0.6369.

                    USD CHF

                    USD traded higher against CHF and closed at 0.9815.

                    USD/CHF again confronts 50-DMA while seeking a downward resistance-line since August 01.
                    23.6% of Fibonacci retracement can offer immediate support.
                    Swiss ZEW Survey – Expectations in the spotlight.

                    According to the Analysis, pair is expected to find support at 0.9780 and a fall through could take it to the next support level of 0.9747. The pair is expected to find its first resistance at 0.9841, and a rise through could take it to the next resistance level of 0.9869.

                    Comment


                    • #70
                      Technical Overview of EUR/CNY, USD/JPY and USD/CAD Currency Pair

                      EUR CNY

                      EUR traded higher against CNY and closed at 7.9029.

                      The core Consumer Price Index released by Eurostat is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services excluding the volatile components like food, energy, alcohol and tobacco. The core 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 EUR, while a low reading is seen as negative.

                      The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. Generally, a high reading anticipates a hawkish attitude which will be positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

                      The Caixin China Manufacturing PMI™, released by Market Economics, is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private manufacturing sector companies.

                      According to the Analysis, pair is expected to find support at 7.881 and a fall through could take it to the next support level of 7.860. The pair is expected to find its first resistance at 7.934 and a rise through could take it to the next resistance level of 7.967.

                      USD JPY

                      USD traded lower against JPY and closed at 106.5200.

                      Retail Sales m/m show the total volume of retail sales of goods and services in the past month compared with the previous one. This is a highly volatile indicator, it is seasonally adjusted.
                      The index allows evaluating consumer spending which is an important indicator of the national inflation.
                      The indicator growth can have a positive effect on yen quotes.

                      According to the Analysis, pair is expected to find support at 105.55 and a fall through could take it to the next support level of 105.33. The pair is expected to find its first resistance at 106.03, and a rise through could take it to the next resistance level of 106.29.

                      USD CAD

                      USD traded higher against CAD and closed at 1.3287.

                      The Gross Domestic Product released by the Statistics Canada is a measure of the total value of all goods and services produced by Canada. The GDP is considered as a broad measure of Canadian economic activity and health. A rising trend has a positive effect on the CAD, while a falling trend is seen as negative (or bearish) for the CAD.

                      According to the Analysis, pair is expected to find support at 1.3239 and a fall through could take it to the next support level of 1.3194. The pair is expected to find its first resistance at 1.3315, and a rise through could take it to the next resistance level of 1.3346.

                      Comment

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