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  1. #31
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    Technical Overview of USD/JPY, NZD/USD and USD/CHF Currency Pair

    USD JPY

    USD traded lower against JPY and closed at 105.6900.


    • USD/JPY: Bears staying in control in the Asian session.
    • USD/JPY4-hour chart: The pair is also at risk of extending its decline,

    USD/JPY has lost some ground as the yen takes up another bid while geopolitics keep the yen bulls in business ahead of a key week on the US calendar.

    According to the Analysis, pair is expected to find support at 105.3 and a fall through could take it to the next support level of 104.92. The pair is expected to find its first resistance at 106.04 and a rise through could take it to the next resistance level of 106.39.

    NZD USD

    NZD traded lower against USD and closed at 0.6468.


    • NZD/USD jumps 20 pips on comments by New Zealand's Treasury that QE is less appealing.
    • Treasury feels RBNZ could cut rates to the negative territory if required.


    NZD/USD is recovering lost ground on comments by New Zealand's Treasury that asset purchases or quantitative easing (QE) are a less appealing tool of monetary easing.

    According to the Analysis, pair is expected to find support at 0.6402 and a fall through could take it to the next support level of 0.6359. The pair is expected to find its first resistance at 0.6478, and a rise through could take it to the next resistance level of 0.6512.

    USD CHF

    USD traded lower against CHF and closed at 0.9727.


    • USD/CHF's 4-hour and daily charts are showing signs of seller exhaustion.
    • The pair could rise to the 10-day moving average resistance during the day ahead.


    USD/CHF could see a corrective bounce to the 10-day moving average (MA) of 1.0938 during the day ahead as technical charts are flashing early signs of a bearish-to-bullish trend change.

    According to the Analysis, pair is expected to find support at 0.9703 and a fall through could take it to the next support level of 0.9680. The pair is expected to find its first resistance at 0.9755, and a rise through could take it to the next resistance level of 0.9784.

  2. #32
    Senior Trader
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    Technical Overview of EUR/USD, GBP/USD and AUD/USD Currency Pair

    EUR USD

    EUR traded higher against USD and closed at 1.1169.


    • EUR/USD aims to revisit 4H 100MA after taking another U-turn from near-term resistance-line.
    • While 1.1283/87 can please buyers during upside break, 23.6% Fibonacci retracement can lure during post-1.1158 declines.

    The Gross Domestic Product released by the Statistisches Bundesamt Deutschland is a measure of the total value of all goods and services produced by Germany. The GDP is considered as a broad measure of the German economic activity and health. A high reading or a better than expected number has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).

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

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

    According to the Analysis, pair is expected to find support at 1.1170 and a fall through could take it to the next support level of 1.1156. 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 1.1228.

    GBP USD

    GBP traded lower against USD and closed at 1.2058.


    • GBP/USD remains on a back foot amid recent UK political news.
    • Rebel MPs readying for early-September action.
    • UK CPI, trade/political news in the spotlight.


    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).

    According to the Analysis, pair is expected to find support at 1.2046 and a fall through could take it to the next support level of 1.2033. The pair is expected to find its first resistance at 1.2090, and a rise through could take it to the next resistance level of 1.2103.

    AUD USD

    AUD traded lower against USD and closed at 0.6800.


    • AUD/USD drops to the intra-day low after China’s July month Retail Sales and Industrial Production lagged behind market consensus and prior.
    • Cautious trading and a lack of fresh clues confined the pair’s moves during the early morning.
    • The US-China trade news, speech from RBA’s Debelle will provide fresh impulse.


    The Employment Change released by the Australian Bureau of Statistics is a measure of the change in the number of employed people in Australia. 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 AUD, while a low reading is seen as negative (or bearish).

    The Unemployment Rate release by the Australian Bureau of Statistics is the number of unemployed workers divided by the total civilian labor force. If the rate hikes, indicates a lack of expansion within the Australian labor market. As a result, a rise leads to weaken the Australian economy. A decrease of the figure is seen as positive (or bullish) for the AUD, while an increase is seen as negative (or bearish).

    According to the Analysis, pair is expected to find support at 0.6760 and a fall through could take it to the next support level of 0.6743. The pair is expected to find its first resistance at 0.6814, and a rise through could take it to the next resistance level of 0.6831.

  3. #33
    Senior Trader
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    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,"

  4. #34
    Senior Trader
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    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.

  5. #35
    Senior Trader
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    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.

  6. ARIONFORXtarder
 

 
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