Daily Technical Analysis

[xtreamforex.com]

Asian Shares, Oil Declined Amid Fear of Overall COVID-19 Risks

Asian Shares and U.S. Stock Futures declined on Wednesday as concern about the renewal of COVID-19 cases in some countries creates an immense tension over the strength of global growth and demand for crude oil.

Euro stoxx 50 futures up 0.28%, Germany’s DAX futures up 0.25% and Britain’s FTSE futures inclined 0.15%.

MSCI broadcast index of Asia-Pacific shares outside Japan fell 1.08%.

Australian stocks declined 0.56% while shares in china regain early losses and inclined 0.29% because of productive earnings from the healthcare and banking sectors.

Stocks in Tokyo sunk by 1.95% because of the worrisome situation as the rapid increase of COVID 19 cases’ in Tokyo, Osaka, and surrounding areas will be kept on lockdown.

S&P 500 e-mini stock Futures also declined 0.18%.

Downfall in Asian Shares after a gloomy day on Wall Street.

The Dow Jones Industrial Average fell 0.75%. The S&P 500 lost by 0.68% and Nasdaq Composite declined 0.92% on Tuesday as many investors sold airlines and mostly hospitality Firms, consequently due to slow recovery in global tourism.

Many tech shares and companies that gain profit from the lockdown, now could come under pressure after Netflix Inc (NASDAQ: NFLX) reported saddening subscriber growth for its movie streaming service which sent its shares down 11% in after-hours trading.

MSCI’s index of global shares fell 0.3%.

U.S. Crude down 0.69% to $62.24 a barrel with Brent crude declined 0.59% to $66.18 per barrel.

[xtreamforex.com]

The Dollar Declined Amid ECB Policy Decision

The Dollar Declined on Thursday Morning in Asia, remaining near multi-week lows as declining gains in U.S. Treasury yields shrunk the U.S. Currency’s interest-rate benefits.

The U.S Dollar Index traces the greenback against a basket of other currencies slightly down by 0.03% to 91.105.

The USD/JPY pair edged down by 0.10% to 107.94, near a seven-week low.

The AUD/USD pair slightly down by 0.105 to 0.7743 with NZD/USD pair was down 0.30% to 0.7190.

The USD/CNY pair edged down by 0.04% to 6.4874.

The GBP/USD pair inched down 0.01% to 1.3928.

Investors are keen to watch the European Central Bank (ECB) policy decision, which will be official later in the day. Any positive verdicts from the central bank about the economic outlook are mostly expected to boost the euro. The single currency was trading at $1.2043, not far from a record level set on March 3.

The Bank of Canada shows the sign of start increasing interest rates in late 2022 after trimming the speed of bond purchases, apparently will become the first group of the central bank to move towards withdrawing unparalleled stimulus. The CAD jumped to a six-week high on Wednesday.

The AUD and NZD dollar also traded near one-month highs against the dollar, countries make their central banks more likely to follow the Reserve Bank of Canada’s footsteps.

[xtreamforex.com]

Dollar Decline, Investors contemplate ECB’s Warning

The U.S. Currency fell on Friday morning in Asia as investors anticipated for U.S. Federal Reserve meeting in the coming week.

The U.S. Dollar Index Futures that traces the greenback declined 0.17% to 91.170 against a basket of other currencies.

The USD/JPY pair slightly down 0.06% to 107.90.

The AUD/USD pair inched up 0.37% to 0.7735.

The NZD/USD pair slightly up 0.14% to 0.7182.

The USD/CNY pair edged up 0.07% to 6.4958.

The GBP/USD pair was slightly up 0.19% to 1.3862.

The Fed is going to announce the policy verdicts on Apr. 28, instantly when investors hoping that might keep its ongoing policy the same. Though, investors keeping eyes wide open for any clue by Fed.

Although investors will be on the prospect for any remarks about ascending monetary easing in the future,
Fed Chairman Jerome Powell is expected to reform European Central Bank (ECB) President Christine Lagarde’s indication that anticipation of keeping the bond purchases narrow because of the announcement of ECB policy on Thursday.

Germany will release April’s manufacturing and service Purchasing Managers Indexes (PMIs) later in the day.

The U.S. will also release its April’s manufacturing and services PMI later in the day with new home sales in March.

Investors are being on the positive side as the Dollar and Euro are surely going to take a big turn and vigorously waiting for the Fed’s decision.

[xtreamforex.com]

The Dollar Elevated but Endures near Seven-week low Amid Fed policy Decision

The dollar was up on Tuesday morning in Asia, although, stayed near multi-week lows as U.S. Treasury yields sink. Most investors consolidate positions ere the U.S. Federal Reserve’s most advanced policy decision.

The U.S. Dollar Index traces the greenback slightly up by 0.14% to 90.907 against the basket of other currencies.

The USD/JPY pair slightly up 0.15% to 108.25, with U.S. currency climbing up 0.1% with ongoing inclination from Friday’s seven-week low of 107.48.

The Bank of Japan kept its interest rates the same at 0.10% at the time of releasing the policy decision earlier in the day with the expectations of Investors.

The AUD/USD pair inched down 0.12% to 0.7790.

The NZD/USD pair inched down 0.14% to 0.7224.

The USD/CNY pair slightly up 0.03% to 6.4863.

The GBP/USD pair edged down 0.06% to 1.3888.

The euro dropped down 0.1% to $1.2078 but remained near the one-month high of $1.2117 hit on Monday.

The dollar has declined nearly 3% since late March 2021, as U.S. Treasury yields remain untouched in restricted areas after escaping from their 14-month high of 1.7760%. The benchmark 10-year U.S. Treasury yield hovered near 1.58% on Tuesday.

Investors are looking forward to the Fed’s decision on Wednesday, keenly waiting for the comments from Chairman Jerome Powell. Mostly the questions will be in regards to enhanced economic outlook justifies removal of monetary easing by the central bank.

The dollar has declined nearly 3% since late March 2021, as U.S. Treasury yields remain untouched in restricted areas after escaping from their 14-month high of 1.7760%. The benchmark 10-year U.S. Treasury yield hovered near 1.58% on Tuesday.

[xtreamforex.com]

Dollar Elevated with Expectations on Fed Policy Decision

The Dollar inclined on Wednesday Morning in Asia after the U.S. Federal Reserve’s announcement of latest policy decision and Joe Biden’s spoke in front of a collective assembly of Congress, is going to happen later in the day.

The U.S. Dollar Index traces the greenback against a basket of other currencies edged up 0.10% to 90.980.

The USD/JPY pair inched up 0.14% to 108.83 as Japan showed a 5.2% gains which were better than the expectation in March retail sales yearly earlier in the day, but the nation still in a worrisome situation due to the rapid increase in COVID-19 cases and Bank of Japan’s confession on Tuesday that inflation is not going to reach its key 2% target through early 2023.

The AUD/USD pair declined 0.24% to 0.7745. Australia’s Consumer Price Index (CPI) data released earlier in the day, rising 0.6% quarterly and 1.1% yearly during the first quarter of 2021.

The NZD/USD pair was stable at 0.7207.

The USD/CNY pair edged up 0.05% to 6.4863.

The GBP/USD pair declined 0.26% to 1.3876.

Even Though the dollar recover from its lowest level since March 3 hit on Monday disbelief abide on whether its downward trend since late March is over.

Receding odds on whether the Fed will start putting the foundation for a future policy tightening promptly when its hands down its decision, also contributed to the U.S. currency’s decline.

Although the central bank is anticipated to maintain its aggressive policy, some investors suggested that signs of rising inflation expectations could nudge it to reject the position sooner than expected. The break Even inflation rate rose above 2.40%, its highest level since 2013, on Tuesday.

[World-Signals.com]

Fed Interest Rates and GDP reports on focus to the end of the week.
The EURUSD trading found a good support line at 1.2055. Although EURUSD trading is possible down correction to 1.2038 where is the next support level the trend into upward direction starts again.
The most important coming events that will take effect over the trading crosses are Fed Interest Rate Decision, Fed's Monetary Policy Statement and FOMC Press Conference. The policy trading probably will remain unchanged with focus over the stimulus of the economy.
Tomorrow the most important events are Germany unemployment and the Harmonized Index of Consumer Prices. Do not forget that much more important is Gross Domestic Product Annualized for Q1 on Thursday 12:30 GMT where the consensus is for 6.5% growth compared to 4.3% in the prior period. On Friday GDP date will be released for Germany and the Euro Zone too.
World-Signals.com trading strategy is to use these two key support levels of 1.2038 and 1.2055 as stops and open long positions with targets above 1.2130 in the next two days or target 1.2150 in the next couple of days.

[xtreamforex.com]

Dollar Declined, Euro Elevated as Fed kept Dovish Monetary Policy

The Dollar declined on Thursday morning in Asia, as the U.S. Federal permit in its most advanced policy decision the global reflation trade with persistently aggressive monetary policy.

The U.S. Dollar Index traces the greenback against a basket of other major currencies slightly down 0.08%.

The USD/JPY pair slightly down 0.01% to 108.58. A holiday in Japan could help reduce losses during the Asian session.

The AUD/USD pair Edged up 0.04% to 0.7792.

The NZD/USD pair Edged up 0.08% to 0.7258.

The USD/CNY pair inched down 0.11% to 6.4702.

The GBP/USD edged up 0.15% to 1.3954.

The dollar’s failure was the euro’s gains, with the only currency hitting its highest level against the dollar following late February 2021 while deciphering major trendline resistance at $1.2114.

The Fed preserved its interest rate constant at 0.25% as it delivered its policy decision on Wednesday as per investor expectations. Fed Chairman Jerome Powell stating it was “not time yet” and that employment still had a long way towards recovery.

USD/TRY slightly higher to 8.1972, before the first public policy presentation by Turkey’s new central bank Governor Sahap Kavcioglu.

[xtreamforex.com]

Xtreamforex Technical Analysis : 30-04-2021


Pound (1.3947) has been rising slowly. A break above 1.40 is needed for the pair to turn bullish and rise further towards 1.41-1.42 in the longer run.

For now watch a rise to 1.40 to see if it manages to break above or faces rejection from there.

RESISTANCE LEVEL: R1: 1.39573, R2: 1.39657, R31.39794 PIVOT POINT: 1.39488 SUPPORT LEVEL: S1: 1.39352, S2: 1.39215, S3: 1.39131.


Euro (1.2118) dipped from 1.2150 but the decline is likely to be limited to 1.2090 for the near term before the Euro again starts to rise. Watch price action near 1.2090.

RESISTANCE LEVEL: R1: 1.21325, R2: 1.21427, R3: 1.21564 PIVOT POINT: 1.21223 SUPPORT LEVEL: S1: 1.21086, S2: 1.20949, S3: 1.20847, S3: 1.20745.

[xtreamforex.com]

Dollar Constant as Traders Support for more U.S. Data

After its recent bounce on Monday, the Dollar straightened as investors made a cautious start to a week packed with central bank meetings and U.S. economic data, anticipating evidence on the global inflation outlook and policymakers’ responses.

Trade was reduced by holidays in Japan, China, and Britain, which kept a cover-up on volatility, leaving the U.S. Currency to trade where it completed after a Friday leap.

It held at $1.2040 per euro and crept to a three-week high of 109.66 yen.

The U.S. Dollar Index traces greenback versus a basket of other currencies slightly up 0.07% to 91.330.

The USD/JPY pair was high 0.229% to 109.59.

The AUD/USD pair edged up 0.05% to 0.7720.

The NZD/USD pair elevated 0.22% to 0.7176.

The USD/CNY pair inched up 0.05% to 1.3821.

[xtreamforex.com]

Dollar High as regardless of Surprise fall in U.S. Manufacturing Data

The dollar was high on Tuesday morning in Asia as an unexpected slowdown in U.S. manufacturing growth cut off Investor bets on a booming U.S. economy giving the U.S. currency a boost.

The U.S. Dollar Index traces the greenback against a basket of other currencies inclined 0.22% to 91.125.

The USD/JPY pair was up 0.22% to 109.28.

The AUD/USD pair was down 0.21% to 0.7744.

The NZD/USD pair inched down 0.33% to 0.7174.

The USD/CNY pair was steady at 6.4735.

The GBP/USD pair was down 0.27% to 1.3872.

Japanese and Chinese markets remained closed for a holiday.

The U.S. Institute of Supply and Management ISM Manufacturing Purchasing Managers Index (PMI) released on Monday, was a lower-than-expected 60.7 for April.

The euro rose 0.3%, as investors understood economic data from the region. The German Manufacturing PMI was 66.2 for April, while the Eurozone’s manufacturing PMI was 62.9.

Investors are now looking to further data to be released later in the week including the U.S Trade balance and the April U.S. employment report which includes non-farmer payrolls.

Benchmark ten-year U.S. Treasury yields dropped 2.5 basis points late as the data baffled, and like New York, Fed President John Willian emphasized that the economic recovery so far is “not nearly enough” to harden monetary policy.