Daily Forex News

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xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Mon Oct 21, 2019 7:36 am

Technical Overview of EUR/USD, AUD/USD and USD/JPY Currency Pair

EUR USD


EUR traded lower against USD and closed at 1.1169.

EUR/USD's may have a hard time extending preceding three week's rally, courtesy of warning Brexit optimism. The common currency may face selling pressure if the European Union announces retaliatory tariffs on imports from the US.

According to the Analysis, pair is expected to find support at 1.1150 and a fall through could take it to the next support level of 1.1146. The pair is expected to find its first resistance at 1.1164 and a rise through could take it to the next resistance level of 1.1168.

AUD USD

AUD traded higher against USD and closed at 0.6855

• AUD/USD remains buoyant in Asia as hopes recede of an early RBA rate cut
• Bolstered by last week's upbeat AU jobs data, increasingly gloomy US data
• Australia home prices keep rising as auctions heat up in boost for economy
• Chance of Nov rate cut pared back to just 17% compared to 34% a week ago

According to the Analysis, pair is expected to find support at 0.6842 and a fall through could take it to the next support level of 0.6839. The pair is expected to find its first resistance at 0.6854, and a rise through could take it to the next resistance level of 0.6857.

USD JPY

USD traded higher against JPY and closed at 108.42

Although 200-day SMA becomes the key upside for USD/JPY, the quote refrains from further declines while taking rounds to 108.50 during early Monday. The pair is seesaws around four day low.

According to the Analysis, pair is expected to find support at 108.32 and a fall through could take it to the next support level of 108.27. The pair is expected to find its first resistance at 108.50, and a rise through could take it to the next resistance level of 108.55.

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xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Tue Oct 22, 2019 10:37 am

Technical Overview of USD/CAD and EUR/USD Currency Pair

USD CAD

USD traded lower against CAD and closed at 1.3048.

USD/CAD is trimming gains on reports calling a victory for Canada's PM Trudeau. The pair may come under pressure if Trudeau forms a minority government with NDP's support.

Canada Retail Sales m/m show changes in the value of goods sold in retail stores in the specified month compared to the previous month. The indicator is calculated based on statistics from several thousand retail stores, and the data is then extrapolated to the whole country.

The indicator evaluates the consumer activity and inflation. The indicator growth can have a positive effect on CAD quotes.

Canada Core Retail Sales m/m reflects the change in retail sales in the reported month compared to the previous one. The indicator is calculated based on statistics from retail stores of different types and sizes. The index calculation does not include sales of autos and spare parts.

Retails Sales are an indicator of consumer activity in Canada, and an important component of national GDP. The indicator growth can have a positive effect on CAD quotes.

According to the Analysis, pair is expected to find support at 1.3077 and a fall through could take it to the next support level of 1.3063. The pair is expected to find its first resistance at 1.3123 and a rise through could take it to the next resistance level of 1.3137.

EUR USD

EUR traded higher against USD and closed at 1.1148.

• Positive risk extends in Asia, E-mini S&P +0.1% and AsiaxJP stocks +0.3%
• Flat in a low key 1.1147/1.1156 range - fundamentals unchanged look to techs
• Charts - daily momentum studies, 5, 10 & 21 MAs head higher - bullish setup
• Sustained cloud break, 1st since July - 1.1104 horizontal cloud top supports
According to the Analysis, pair is expected to find support at 1.1142 and a fall through could take it to the next support level of 1.1132. The pair is expected to find its first resistance at 1.1172, and a rise through could take it to the next resistance level of 1.1182.

Important Economic Events of the Day

• CAD: Retail Sales m/m
• CAD: Core Retail Sales m/m
• USD: Existing Home Sales

For More information about the release time of news and its impact visit Economic Calendar Page!

xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Fri Nov 15, 2019 8:55 am

Technical Overview of EUR/USD and USD/JPY Currency Pair

EUR USD


EUR traded higher against USD and closed at 1.1021
• Early bounce on US data gives some relief to longs
• Pair heavy on safe haven flows but holds above 61.8 Fib of 1.0879-1.1180
• Daily RSI diverges & bull hammer forms, daily techs warn shorts
• Monthly RSI still falling, says downside momentum could resume
• Global growth concerns, soured risk could sink EUR/USD

According to the Analysis, pair is expected to find support at 1.1010 and a fall through could take it to the next support level of 1.0972. The pair is expected to find its first resistance at 1.1132 and a rise through could take it to the next resistance level of 1.1170.

USD JPY

USD traded higher against JPY and closed at 108.39.

• USD/JPY's breaks key props at 108.50 , close is key
• IMM USD/JPY specs long largely above 108 are at risk on 107.89/99 break
• Treasury yields sliding faster than JGBs, '20 Fed cuts pricing back in
• USD/JPY's topping formation reinforced by AUD/JPY's reversal
• Risk flows could change on a dime if trade deal gets completed, signed

According to the Analysis, pair is expected to find support at 108.57 and a fall through could take it to the next support level of 108.56. The pair is expected to find its first resistance at 108.59, and a rise through could take it to the next resistance level of 108.60.

Important Economic Events of the Week (11 Nov, 19 to 15 Nov, 19)

• USD: Retail Sales m/m
• GBP: Retail Sales m/m
• NZD: Electronic Card Retail Sales m/m
For More information about the release time of news and its impact visit Economic Calendar Page!

xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Fri Nov 22, 2019 7:42 am

Technical Overview of AUD/USD and GBP/USD Currency Pair

AUD USD


AUD traded higher against USD and closed at 0.6784

• Flat in a quiet tight 0.6785/0.6795 range as options contain
• 0.6785-95 1.1BLN and 0.6900 500M strikes dominated in Asia
• Risk bounce in Asia after a soft week, Nikkei +0.6%, AsiaxJP +0.3%
• Charts - momentum studies, 5, 10 & 21 DMAs head south - bearish setup
• Dip recently stalled at 0.6769, which remains pivotal and vulnerable
• NY 0.6783 low and earlier 0.6795 high initial support and resistance

According to the Analysis, pair is expected to find support at 0.6786 and a fall through could take it to the next support level of 0.6785. The pair is expected to find its first resistance at 0.6788 and a rise through could take it to the next resistance level of 0.6789.

GBP USD

GBP traded higher against USD and closed at 1.2913.

• Cable saw steady interest and trades +0.1% in a 1.2903/1.2921 range
• Conservatives to raise property purchase tax for non-UK residents
• A revenue raiser that will be popular with UK voters
• FT's poll tracker, Conservatives hot favorites, +13pts from +11 over Labour
• Charts - 5, 10 & 21 DMAs gently edge higher - modest topside bias
• Six week 1.2770/1.3012 range looks set to extend unless the USD trends

According to the Analysis, pair is expected to find support at 1.2917 and a fall through could take it to the next support level of 1.2916. The pair is expected to find its first resistance at 1.2923, and a rise through could take it to the next resistance level of 1.2924.

Important Economic Events of the Week (18 Nov, 19 to 24 Nov, 19)

• CAD: Core Retail Sales m/m
• EUR: ECB President Lagarde Speech
• EUR: GDP q/q
• SGD: GDP q/q
• USD: EIA Crude Oil Stocks Change

For More information about the release time of news and its impact visit Economic Calendar Page!

xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Tue Nov 26, 2019 9:05 am

Technical Overview of AUD/USD and NZD/USD Currency Pair

AUD USD


AUD traded higher against USD and closed at 0.6777.

FED Chair Speech affects USD depending on the speech rhetoric. If the speech is seen as an intention to raise the rates at the next FOMC meeting, this has a positive impact on USD and vice versa.

The FED Chair's statements have the greatest impact on the market compared to other members of the FED Board of Governors.

Reserve Bank of Australia (RBA) Governor Speech may contain information about the expected change in the bank's interest rates or in the monetary policy.

The Aussie dollar, a G-7 proxy for China, is not impressed by reports of US-China trade talks gaining momentum. AUD/USD failed to take out key average hurdle despite renewed trade optimism. RBA's Debelle said slower wage growth is a new norm in Australia.

According to the Analysis, pair is expected to find support at 0.6769 and a fall through could take it to the next support level of 0.6761. The pair is expected to find its first resistance at 0.6793 and a rise through could take it to the next resistance level of 0.6801.

NZD USD

NZD traded higher against USD and closed at 0.6416.

Retail Sales m/m reflects 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.

Consumer Confidence Index displays the level of consumer confidence in the stability of the country's economy. It is based on the data from the monthly survey of more than 5000 households and is designed to evaluate the relative financial status, purchasing power and confidence of an average consumer. The survey consists of five questions, two of which are associated with the current economic conditions, while three deal with expectations. Since 60% of the survey has to do with expectations, the indicator is considered to be a leading market indicator. The indicator growth assumes an increase in consumer spending.

• NZD/USD is facing pullback risks after multiple failures at the 100-day MA hurdle.
• A close above the key average will likely invite stronger buying pressures.

According to the Analysis, pair is expected to find support at 0.6400 and a fall through could take it to the next support level of 0.6392. The pair is expected to find its first resistance at 0.6426, and a rise through could take it to the next resistance level of 0.6434.

For More information about the release time of news and its impact visit https://xtreamforex.com/Economic_Calendar.html

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xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Fri Dec 06, 2019 8:56 am

Technical Overview of GBP/USD and USD/JPY Currency Pair

GBP USD


GBP traded higher against USD and closed at 1.3155.

• Flat in a 1.3153/1.3161 range, but decent interest once Asia fully opened
• EUR/GBP saw modest volumes with a very tight 0.8438/0.8341 range
• Conservative election victory expectations attracted fresh demand this week
• Initial significant resistance at 1.3168/90, 50% 2018/19 fall and May high
• 1.3168 capped in NY, but is under pressure - strong resistance into 1.3200
• Close above 1.3200 would be a strong positive into the election next week
• Sustained 1.3200 break would open the door to the 1.3380 2019 high in March
• Close below the prior 1.3000 range high needed to undermine topside bias

According to the Analysis, pair is expected to find support at 1.3120 and a fall through could take it to the next support level of 1.3105. The pair is expected to find its first resistance at 1.3166 and a rise through could take it to the next resistance level of 1.3181.

USD JPY

USD traded lower against JPY and closed at 108.75.

USD/JPY's CTA positioning and notes that it's mainly close to neutral and sidelined around current levels.
"CTAs having held back on going long in the USD/JPY market (buying USD and selling yen) during the recent risk-on phase, they have managed to avoid simultaneous stock selling and yen buying.

CTAs' USD/JPY positions are close to neutral at present, and they are not currently moving either to buy or to sell.

"With the latent risk of yen appreciation being suppressed, if fundamentals-oriented investors begin tentatively dip-buying below 23,000, this downward move by the Nikkei 225 could be brought to a close relatively soon.

According to the Analysis, pair is expected to find support at 108.66 and a fall through could take it to the next support level of 108.58. The pair is expected to find its first resistance at 108.92, and a rise through could take it to the next resistance level of 109.00.

Important Economic Events of the day

• JPY: Household Spending y/y
• USD: Nonfarm Payrolls
• USD: Baker Hughes US Oil Rig Count
• CAD: Employment Change

For More information about the release time of news and its impact visit Economic Calendar Page!

xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Mon Dec 30, 2019 9:27 am

Technical Overview of EUR/USD and GBP / USD Currency Pair

EUR /USD
EUR traded Higher against USD and closed at 1.1175.

EUR/USD is attempting a convincing break above 1.12 amid broad-based US dollar weakness.

The currency pair is currently trading at 1.1196, representing a 0.20% gain on the day, having hit a high of 1.1210 in Asia.

Dollar's bearish trend continued in Asia and looks to have legs, as gold, a hard currency, is reporting a 3% gain on a month-to-date basis in dollar terms and is expected to put on a good show next year. The trend in the gold market is widely used as an indicator to confirm the bullish/bearish price action in the US dollar.

EUR/USD's bullish case looks stronger with the weekly chart reporting an upside break of the trendline connecting September 2018 and June 2019 highs.

According to the Analysis, pair is expected to find support at 1.1196 and a fall through could take it to the next support level of 1.1195. The pair is expected to find its first resistance at 1.1200 and a rise through could take it to the next resistance level of 1.1201.

GBP / USD
GBP traded higher against USD and closed at 1.3076
• GBP/USD remains on the front foot for the fifth consecutive day to the highest since December 19.
• The Brexit party leader Nigel Farage’s former adviser Trixy Sanderson signaled the EU’s preparations for a no-deal departure.
• The market lost interest in the greenback as phase-one calls rise but US-China political divide remains.

According to the Analysis, pair is expected to find support at 1.3075 and a fall through could take it to the next support level of 1.3068. The pair is expected to find its first resistance at 1.3097, and a rise through could take it to the next resistance level of 1.3104.

Important Economic Events of the Day

• USD: Pending Home Sales m/m
• USD: Pending Home Sales y/y
• USD: Goods Trade Balance

More information about the release time of news and its impact visit https://xtreamforex.com/Economic_Calendar.html

xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Wed Jan 15, 2020 10:24 am

Technical Overview of GBP/USD and EUR/USD Currency Pair

GBP USD

GBP traded higher against USD and closed at 1.3017.

GBP/USD looks to extend the bounce towards 1.3050 ahead of the UK CPI report, as broad-based US dollar weakness and bullish technical set up underpin the sentiment around the spot.

• Flat - closed up 0.2%, as expectations of a Jan BoE cut cooled
• Inflation data on today and retail sales Friday will be key for sterling
• Despite bounce daily charts are negative, though at low end of recent ranges
• Momentum studies, 5, 10 & 21 DMAs head lower and 21 day Bolli bands slip
• 1.2900, December low then 1.2887 lower 21 day Bolli band are major support

According to the Analysis, pair is expected to find support at 1.2973 and a fall through could take it to the next support level of 1.2954. The pair is expected to find its first resistance at 1.3033, and a rise through could take it to the next resistance level of 1.3052.

EUR USD

EUR traded higher against USD and closed at 1.1127.

• EUR/USD barely moved in Asia trading in a 1.1126/31 range
• Most of the action in regionals as USD moved up on Mnuchin comments\
• Resistance at 10-day MA at 1.1140 with option selling ahead of 1.1150
• Large option maturities 1.1100/50 defining recent range
• Break above 1.1150 targets 61.8 fibo of 1.1240/1.1085 at 1.1181
• EZ IP later today, but US-China trade deal likely to be main event

According to the Analysis, pair is expected to find support at 1.1111 and a fall through could take it to the next support level of 1.1101. The pair is expected to find its first resistance at 1.1141 and a rise through could take it to the next resistance level of 1.1151.

Economic events of the Day

• USD EIA Crude Oil Stocks Change
• USD EIA Cushing Crude Oil Stocks Change
• USD FOMC Member Harker Speech

More information about the release time of news and its impact visit https://xtreamforex.com/Economic_Calendar.html

xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Tue Jan 21, 2020 8:47 am

Technical Overview of EUR/USD and USD/JPY and Currency Pair

EUR USD

EUR traded higher against USD and closed at 1.1094

• Touch softer - closed up 0.05% after recording a fresh 1.1076 Jan low
• UK to set out goals for EU trade talks - PM Johnson's spokesman
• Charts show momentum studies, 5, 10 & 21 DMAs edging lower - negative setup
• 1.1080/85, 61.8% of the Nov-Dec bounce and Jan double bottom held on close
• Sustained 1.1075 breaks a bearish signal, next stop 1.1042 76.4% Nov-Dec rise
• 1.1113, 38.2% of the January dip and 5 DMA is initial resistance
• 1.1100 350M, 1.1125 230M, and 1.1140-50 1.5BLN strikes cap

According to the Analysis, pair is expected to find support at 1.1082 and a fall through could take it to the next support level of 1.1076. The pair is expected to find its first resistance at 1.1102 and a rise through could take it to the next resistance level of 1.1108
USD JPY

USD traded lower against JPY and closed at 110.18.

USD/JPY extends losses while taking rounds to 110.00 during early Tuesday. The pair shrugged off the BOJ’s widely anticipated monetary policy decision as risk aversion seems to be in the play.

• USD/JPY extends the recent losses despite BOJ holding its monetary policy intact while keeping forward guidance on interest rates intact.
• News of coronavirus outbreak recently triggered risk-off; trade-positive news from the Chinese Commerce Ministry failed to please buyers.
• Geopolitical plays in the Middle East, trade headlines will welcome the US traders returning from the extended weekend.

According to the Analysis, pair is expected to find support at 110.13 and a fall through could take it to the next support level of 110.10. The pair is expected to find its first resistance at 110.21 and a rise through could take it to the next resistance level of 110.24

Economic Events of the Day

• JPY BoJ Interest Rate Decision
• JPY BoJ Press Conference
• GBP Claimant Count Change
• EUR ZEW Economic Sentiment Indicator
More information about the release time of news and its impact visitEconomic Calendar Page!

xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Wed Feb 05, 2020 8:32 am

Technical Overview of AUD/USD And EUR / USD Currency Pair
AUD/USD
AUD traded High against USD and closed at 0.6700

• AUD/USD takes the bids to 0.6711 after the RBA leaves its benchmark interest rates unchanged during early Tuesday. The pair previously dropped amid fears of coronavirus outbreak. AUD/USD keeps losses as RBA's Lowe reiterates “gentle turning point” description.
• AUD/USD continues to trade in the red despite upbeat comments by RBA's Lowe.
• The central bank head said the economy is passing through a gentle turning point.
• China's Caixin services PMI for January missed estimates.

According to the Analysis, pair is expected to find support at 0.6693 and a fall through could take it to the next support level of 0.6678 The pair is expected to find its first resistance at 0.6741 and a rise through could take it to the next resistance level of 0.6756 .

EUR/USD

EUR traded lower against USD and closed at 1.1042

Amid risk reset, the EUR/USD pair is currently trading near 1.1034, down 0.10% on the day, having faced rejection near 1.11 on Monday.
1. EUR/USD is losing altitude amid risk reset in the financial markets.
2. Coronavirus scare has eased with China's decision to inject liquidity.
3. All eyes remain on Eurozone data, ECB Lagarde’s speech and US PMIs.

According to the Analysis, pair is expected to find support at 1.1035 and a fall through could take it to the next support level of 1.1027. The pair is expected to find its first resistance at 1.1059 and a rise through could take it to the next resistance level of 1.1067

Important Economic Events of the Day

• NZD Employment Change q/q
• USD ISM Non-Manufacturing PMI
• USD EIA Crude Oil Stocks Change
• USD ISM Non-Manufacturing PMI

More information about the release time of news and its impact visit Economic Calendar Page!

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