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Daily Market News By Xtreamforex


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319 replies to this topic

#301 xtreamforex.com

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Posted 15 August 2019 - 05:35 AM

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,"



#302 xtreamforex.com

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Posted 20 August 2019 - 04:39 AM

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.



#303 xtreamforex.com

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Posted 22 August 2019 - 04:43 AM

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

 

EUR traded higher against USD 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.

 



#304 xtreamforex.com

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Posted 27 August 2019 - 06:11 AM

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

 

EUR USD

 

EUR traded lower against USD and closed at 1.1102.

 

EUR/USD failed to confirm a bullish reversal with a close above 1.1153 on Monday.

German GDP is expected to have contracted by 0.1% in the second quarter.

                                      

HICP is an index of consumer prices calculated and published by Destatis, the Statistical Office of the European Union, on the basis of a statistical methodology that has been harmonized across all EU member states. HICP is a measure of prices used by Governing Council of EU to define and assess price stability in the euro area as a whole in quantitative terms.

 

According to the Analysis, pair is expected to find support at 1.1079 and a fall through could take it to the next support level of 1.1057. The pair is expected to find its first resistance at 1.1138 and a rise through could take it to the next resistance level of 1.1175.

USD CAD

USD traded lower against CAD and closed at 1.3254.

 

The Gross Domestic Product Annualized released by the US Bureau of Economic Analysis shows the monetary value of all the goods, services and structures produced within a country in a given period of time. GDP Annualized is a gross measure of market activity because it indicates the pace at which a country's economy is growing or decreasing. Generally speaking, a high reading or a better than expected number is seen as positive for the USD, while a low reading is negative.

 

According to the Analysis, pair is expected to find support at 1.3229 and a fall through could take it to the next support level of 1.3203. The pair is expected to find its first resistance at 1.3298, and a rise through could take it to the next resistance level of 1.3342.

 

AUD USD

 

AUD traded higher against CAD and closed at 0.6775.

 

The Aussie ignored upbeat Chinese data and risk-on trades on the Asian stocks. Focus remains on trade and US data.

 

According to the Analysis, pair is expected to find support at 0.6732 and a fall through could take it to the next support level of 0.6713. The pair is expected to find its first resistance at 0.6774, and a rise through could take it to the next resistance level of 0.6797.



#305 xtreamforex.com

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Posted 28 August 2019 - 05:07 AM

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.



#306 xtreamforex.com

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Posted 30 August 2019 - 04:47 AM

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.



#307 xtreamforex.com

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Posted 09 September 2019 - 06:44 AM

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

 

GBP USD

 

GBP traded lower against USD and closed at 1.2281.

 

The UK Parliament will decide whether the UK PM Johnson's Brexit Plan is valid or not. In the case the Parliament don't approve it, chances of a hard Brexit will increase exponentially.

 

  • GBP/USD deflected by Ichimoku Cloud as pointed out
  • Chart blockade has impeded rally, but bullish bias not gone
  • Bulls need to clear Cloud top 1.2432 to force short-covering
  • Daily Bollinger uptrend channel in play if 1.2269 floor holds
  • But Mon closing below that mark could skew back toward 1.2100
  • Entrance of downtrend channl awaits as Brexit uncertainty builds

                    

According to the Analysis, pair is expected to find support at 1.2266 and a fall through could take it to the next support level of 1.2255. The pair is expected to find its first resistance at 1.2300 and a rise through could take it to the next resistance level of 1.2311.

AUD USD

AUD traded higher against USD and closed at 0.6846.

 

AUD/USD trades firmer near-daily highs above the 0.6850 level after the Australian Home Loans data showed a solid surge in July. The spot also finds support from China's RRR cut despite disappointing Chinese trade figures.

According to the Analysis, pair is expected to find support at 0.6839 and a fall through could take it to the next support level of 0.6836. The pair is expected to find its first resistance at 0.6851, and a rise through could take it to the next resistance level of 0.6854.

 

USD JPY

 

USD traded lower against JPY and closed at 106.90.

 

USD/JPY is trading little changed below 107.00 so far this Monday amid Japanese GDP data and improved risk tones. Risk remains skewed to the upside, as the pair is developing above all of its moving averages.

 

According to the Analysis, pair is expected to find support at 106.83 and a fall through could take it to the next support level of 106.79. The pair is expected to find its first resistance at 106.97, and a rise through could take it to the next resistance level of 107.01.

 



#308 xtreamforex.com

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Posted 10 September 2019 - 06:22 AM

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

 

EUR USD

 

EUR traded higher against USD and closed at 1.1046.

  • EUR/USD runs out of steam, failing to even cross 20 DMA on EBS at 1.1063
  • Return to downtrend possible, in repeat of early Aug price action
  • Bullish reversal pattern may again be overturned at Bollinger band 1.1111
  • Previous failures to close inside Bollinger uptrend channel cued selloff

JOLTS Job Openings is a monthly report on job vacancies in the US commercial, industrial and office areas. The calculation includes all vacancies that are open as of the last business day of a month.

 

The indicator is included in the JOLTS (Job Openings and Labor Turnover Survey) report based on employers' survey. In addition to job openings, it includes data on employment, hires and separations.

 

JOLTS characterizes the US labor market. Index growth may have a positive effect on dollar quotes.

                                  

According to the Analysis, pair is expected to find support at 1.1023 and a fall through could take it to the next support level of 1.1010. The pair is expected to find its first resistance at 1.1063 and a rise through could take it to the next resistance level of 1.1076.

NZD USD

NZD traded higher against USD and closed at 0.6422.

According to the Analysis, pair is expected to find support at 0.6417 and a fall through could take it to the next support level of 0.6409. The pair is expected to find its first resistance at 0.6441, and a rise through could take it to the next resistance level of 0.6449.

 

GBP USD 

 

GBP traded lower against USD and closed at 1.2345.

 

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 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).

 

According to the Analysis, pair is expected to find support at 106.83 and a fall through could take it to the next support level of 106.79. The pair is expected to find its first resistance at 106.97, and a rise through could take it to the next resistance level of 107.01.

 



#309 xtreamforex.com

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Posted 11 September 2019 - 06:46 AM

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

 

USD JPY

 

USD traded higher against JPY and closed at 107.53.

  • USD/JPY grinds higher to 107.67 from 107.54, nearing breakout
  • May soon crack 107.71 top of daily Ichimoku Cloud on EBS
  • Closing above that level marks bullish break, 200 DMA could be next
  • ECB meet Thurs could derail EUR/JPY, though dovish outcome priced in
  • US 10y yield lets off some steam after hitting 1.744%, last 1.713%
  • Risk appetite rising with further global central bank easing expected       

According to the Analysis, pair is expected to find support at 107.32 and a fall through could take it to the next support level of 107.21. The pair is expected to find its first resistance at 107.64 and a rise through could take it to the next resistance level of 107.75.

USD CHF

USD traded lower against CHF and closed at 0.9919.

  • USD/CHF recently turned choppy inside a rising channel formation.
  • 200-hour EMA adds to the pattern’s support.

The USD/CHF pair’s failure to rise past-0.9930/35 area, including early-month high, is less likely to portray its weakness unless breaking near-term support-line. The pair currently trades near 0.9920 by the press time heading into Wednesday’s European session.

According to the Analysis, pair is expected to find support at 0.9896 and a fall through could take it to the next support level of 0.9886. The pair is expected to find its first resistance at 0.9928, and a rise through could take it to the next resistance level of 0.9938.

 

AUD USD

 

AUD traded higher against USD and closed at 0.6859.

  • AUD/USD is losing altitude in response to a dismal Westpac Aussie consumer confidence data.
  • Australian currency may remain under pressure due to deepening slowdown in China.

According to the Analysis, pair is expected to find support at 0.6850 and a fall through could take it to the next support level of 0.6845. The pair is expected to find its first resistance at 0.6868, and a rise through could take it to the next resistance level of 0.6873.

 



#310 xtreamforex.com

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Posted 18 September 2019 - 04:52 AM

Technical Overview of GBP/USD, USD/CAD and NZD/USD Currency Pair

 

GBP USD

 

GBP traded lower against USD and closed at 1.2500.

  • GBP/USD created a bullish outside bar candlestick on Tuesday, signaling a continuation of the recent rally.
  • Federal Reserve is expected to cut rates by 25 basis points.

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 1.2423 and a fall through could take it to the next support level of 1.2392. The pair is expected to find its first resistance at 1.2525 and a rise through could take it to the next resistance level of 1.2556.

USD CAD

USD traded higher against CAD and closed at 1.3241.

  • USD/CAD remains above 100-HMA, 38.2% Fibonacci retracement confluence.
  • 61.8% Fibonacci retracement limits near-term advances.

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 1.3231 and a fall through could take it to the next support level of 1.3215. The pair is expected to find its first resistance at 1.3283, and a rise through could take it to the next resistance level of 1.3299.

 

NZD USD

 

NZD traded lower against USD and closed at 0.6356.

  • NZD/USD follows three-day-old falling trend-line, slips below 61.8% Fibonacci retracement.
  • Early-month high, Tuesday’s low could offer intermediate halt during the declines.

The Gross Domestic Product released by the Statistics New Zealand is a measure of the total value of all goods and services produced by New Zealand. The GDP is considered as a broad measure of New Zealand economic activity and health. Generally speaking, a high reading is seen as positive (or bullish) for the NZD, while a falling trend is seen as negative (or bearish) for the NZD.

 

The FOMC press conference is about an hour long and has 2 parts - first a prepared statement is read, then the conference is open to press questions. The questions often lead to unscripted answers that create heavy market volatility.

 

According to the Analysis, pair is expected to find support at 0.6332 and a fall through could take it to the next support level of 0.6322. The pair is expected to find its first resistance at 0.6364, and a rise through could take it to the next resistance level of 0.6374.

 



#311 xtreamforex.com

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Posted 26 September 2019 - 06:54 AM

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

 

NZD USD

NZD traded lower against USD and closed at 0.6271.

  • NZD/USD rebounding after staging key reversal lower yesterday
  • Pair is up close to 0.59% from the NY close and nearing 0.6300
  • Move up coincided with speech by RBNZ Governor Orr
  • Orr says rates will remain low for long time, but QE unlikely
  • Adds that low rates provides excellent investment opportunities
  • Resistance at 10-day MA at 0.6314 and break eases downward pressure Bank of America Merrill

 

Gross Domestic Product q/q (GDP) is a monetary valuation of all goods and services produced in the United States in the given quarter compared with the previous one minus the price of goods and services used in production.

 

The GDP calculation equation includes consumer spending, government spending, amount of all investments (including capital expenditures for activities) and total net export of the country.

 

GDP is the indicator of the country's economy and population living standards. A regular inflation adjustment allows for a valid comparison of the current value with the previous one. Thus, the country's GDP can be displayed as a percentage of the previous year or quarter. This is handy for measuring the economic growth rate.

 

GDP growth can have a positive effect on dollar quotes.

 

According to the Analysis, pair is expected to find support at 0.6264 and a fall through could take it to the next support level of 0.6245. The pair is expected to find its first resistance at 0.6328 and a rise through could take it to the next resistance level of 0.6347.

USD JPY

USD traded lower against JPY and closed at 107.76.

 

Bank of America Merrill Lynch Global Research discusses USD/JPY outlook and maintains a structural bearish bias

 

The bar is high for the BoJ to cut the policy rate and the USD/JPY level is likely to be a key variable. We would sell USD/JPY (and vol) if it rallies on expectations for the BoJ from the current level.

 

The likelihood of the BoJ's rate cut would increase if USD/JPY sells off to 104-105, accompanying weakness in risk assets. However, we do not think a mere 10bp rate cut would contain the pressure. We expect the market to test the BoJ in such a scenario and volatility will rise," BofAML notes.

 

"But the combination of fiscal easing, rate cut with supplementary measures, and more purchases of foreign assets by public/semi-public institutions, may prove effective in weakening JPY," BofAML adds.

BOJ Governor Speech is an event having the greatest impact on JPY among all public statements made by the Japanese regulator. The Governor's rhetoric reflects the official position of the Bank of Japan.

 

If some hints at tightening the monetary policy by the Bank of Japan are detected in the Governor speech, it may affect JPY positively.

 

According to the Analysis, pair is expected to find support at 107.20 and a fall through could take it to the next support level of 106.99. The pair is expected to find its first resistance at 107.86, and a rise through could take it to the next resistance level of 108.07.

 

Important Economic Events of the Day

  • JPY: BoJ Governor Kuroda Speech
  • USD: United States Gross Domestic Product (GDP) q/q
  • EUR: ECB President Draghi Speech
  • GBP: BoE Governor Carney Speech
  • USD: Pending Home Sales m/m
  • MXN: Bank of Mexico Interest Rate Decision

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

 

 



#312 xtreamforex.com

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Posted 27 September 2019 - 07:21 AM

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

 

GBP USD

GBP traded higher against USD and closed at 1.2322.

  • Modest flow, +0.1%, at top of a very tight 1.2320/28 range, EUR/GBP -0.1%.
  • Boris's top adviser Cummings; Brexit chaos 'A walk in the park'.
  • EU's Juncker says he and Barnier doing everything possible to get a deal.
  • Britain will be responsible if they exit EU with no Brexit deal.
  • Over a third of small UK companies fear no-deal Brexit hit, FSB.
  • Close below 1.2344, 38.2% of Sept bounce and 1.2351 21 DMA is bearish.
  • Momentum studies, 5 & 10 DMA's fall - next stop is 1.2271 50% Sept rise.

 

According to the Analysis, pair is expected to find support at 1.2307 and a fall through could take it to the next support level of 1.2289. The pair is expected to find its first resistance at 1.2367 and a rise through could take it to the next resistance level of 1.2385.

EUR USD

EUR traded lower against USD and closed at 1.0921.

 

CIBC Research discusses the USD outlook and the Fed rate call expectations. CIBC targets the USD index DXY at 98.9 by year-end and at 95.6 by Q2 of 20120.

 

"We share the view of many FOMC speakers that rate cuts will be a bit shallower than markets anticipate, with the rate cuts in July and September to be followed by one more 25 bp ease in December, and then a pause," CIBC notes.

 

"While US data has been a mixed bag, the economy has yet to have a quarter of growth below its non-inflationary potential. American consumers are in a healthy position based on an ample savings rate, low monthly financial obligations, and ongoing labor income growth. That underlying resilience, while not preventing a further slowing in growth, should be bullish for the dollar against overseas currencies in the very near-term, given the deeper risks to growth abroad (i.e. China and Europe), as well as uncertainty surrounding Brexit and trade, that will propel safe haven inflows in the greenback.

 

Over a longer time horizon, an easing in the appetite for such flows should see DXY give back some of its strength. For that, we’ll need some fiscal stimulus in Europe to reduce its dependence on negative yields, and an easing in US-China trade tensions. Any reduction in the attractiveness of US assets as a safe haven serves to weaken the greenback, given America’s persistent current account deficit," CIBC adds.

 

According to the Analysis, pair is expected to find support at 1.0911 and a fall through could take it to the next support level of 1.0898. The pair is expected to find its first resistance at 1.0955, and a rise through could take it to the next resistance level of 1.0968.

 

For More information about the release time of news visit here: https://xtreamforex.com

 



#313 xtreamforex.com

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Posted 30 September 2019 - 06:44 AM

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

 

USD JPY

 

USD traded lower against JPY and closed at 107.92

USD/JPY is currently trading largely unchanged on the day at 107.93, having faced rejection at 108.00 in Asia. The psychological resistance proved a tough nut to crack despite the uptick in the futures on the S&P 500.

According to the Analysis, pair is expected to find support at 107.88 and a fall through could take it to the next support level of 107.85. The pair is expected to find its first resistance at 108.00 and a rise through could take it to the next resistance level of 108.03.

USD CNY

USD traded higher against CNY and closed at 7.1218.

 

According to the Analysis, pair is expected to find support at 7.1192 and a fall through could take it to the next support level of 7.1146. The pair is expected to find its first resistance at 7.1344, and a rise through could take it to the next resistance level of 1.1390.

 

Important Economic Events of the Day

  • JPY: Retail Sales m/m
  • CNY: China Manufacturing Purchasing Managers Index (PMI)
  • CNY: China Non-Manufacturing Purchasing Managers Index (PMI)
  • GBP: United Kingdom Gross Domestic Product (GDP) q/qUSD: Pending Home Sales m/m

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

 

 



#314 xtreamforex.com

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Posted 01 October 2019 - 05:53 AM

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

 

AUD USD

 

AUD traded lower against USD and closed at 0.6749.

The bid tone around the US dollar strengthened across the board, now pushing AUD/USD back into the red to hit four-week lows near 0.6740. The focus now shifts to the RBA rate decision while poor Australian housing data and US-China trade uncertainty continue to weigh.

 

According to the Analysis, pair is expected to find support at 0.6743 and a fall through could take it to the next support level of 0.6736. The pair is expected to find its first resistance at 0.6765 and a rise through could take it to the next resistance level of 0.6772.

USD CAD

USD traded higher against CAD and closed at 1.3239.

 

With its failure to cross 1.3263/65 resistance-confluence, USD/CAD drops back towards near-term horizontal support as it trades near 1.3240 during the Asian session on Tuesday. Three-week-old horizontal-line restricts immediate downside.

 

According to the Analysis, pair is expected to find support at 1.3228 and a fall through could take it to the next support level of 1.3220. The pair is expected to find its first resistance at 1.3256, and a rise through could take it to the next resistance level of 1.3264.

 

Important Economic Events of the Day

  • JPY: Bank of Japan (BoJ) Tankan Large Manufacturing Index
  • JPY: Bank of Japan (BoJ) Tankan Large Non-Manufacturing Index
  • AUD: Reserve Bank of Australia (RBA) Interest Rate Decision
  • AUD: Reserve Bank of Australia (RBA) Governor Lowe Speech
  • CAD: Canada Gross Domestic Product (GDP) m/m
  • USD: ISM United States Manufacturing Purchasing Managers Index (PMI)

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

 

 



#315 xtreamforex.com

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Posted 02 October 2019 - 07:29 AM

Why Would Forex Traders Use Forex VPS hosting servers?

 

 

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#316 xtreamforex.com

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Posted 04 October 2019 - 06:45 AM

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

 

EUR USD

 

EUR traded lower against USD and closed at 1.0964.

EUR/USD again aims for 1.0987 resistance - confluence while taking the bids to 1.0980 amid the initial trading session on Friday. 23.6% Fibonacci retracement, immediate support-line questions pair’s declines.

 

According to the Analysis, pair is expected to find support at 1.0949 and a fall through could take it to the next support level of 1.0935. The pair is expected to find its first resistance at 1.0993 and a rise through could take it to the next resistance level of 1.1007.

AUD USD

AUD traded higher against USD and closed at 0.6741.

 

AUD/USD is keeping gains despite the weaker-than-expected Aussie retail sales data. The pair may extend gains on dovish Federal Reserve expectations. RBA's Financial Stability Report cites housing market as key risk to the economy.

 

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 0.6701. The pair is expected to find its first resistance at 0.6753, and a rise through could take it to the next resistance level of 0.6765.

 

Important Economic Events of the Day

  • AUD: Australia Retail Sales m/m
  • USD: United States Nonfarm Payrolls
  • CAD: Ivey Canada Purchasing Managers Index (PMI)
  • USD: Federal Reserve System (Fed) Chair Powell Speech

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

 

 



#317 xtreamforex.com

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Posted 09 October 2019 - 09:19 AM

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

 

GBP USD

 

GBP traded lower against USD and closed at 1.2217.

 

GBP/USD remains within its 1.1950-1.2600 September range, but the downside looks vulnerable unless there is a surprise Brexit breakthrough, or a rout in the USD.

 

Since becoming PM, Johnson has been accused of talking to his Brexiteer electorate, rather than negotiating with the EU. His repetition of key phrases such as the 'surrender bill', used to describe the law making a hard Brexit illegal on Oct 31, is a case in point - this strategy was successful in the 2016 Brexit referendum.

 

Johnson insists the UK will exit the EU without a deal on Oct 31, but he committed in court to respect the law.

 

The GBP/USD pair now seems to have entered a bearish consolidation phase and was seen oscillating in a narrow band just above one-month lows set in the previous session. The incoming Brexit headlines might continue to influence ahead of FOMC meeting minutes.

 

According to the Analysis, pair is expected to find support at 1.2199 and a fall through could take it to the next support level of 1.2174. The pair is expected to find its first resistance at 1.2281 and a rise through could take it to the next resistance level of 1.2306.

EUR USD

EUR traded higher against USD and closed at 1.0954.

 

EUR/USD is reporting moderate gains, having defended key MA support. Fed's Powell said the central bank's balance sheet will expand again. American Dollar may find bids if the Fed minutes highlight growing split among policymakers.

 

According to the Analysis, pair is expected to find support at 1.0945 and a fall through could take it to the next support level of 1.0932. The pair is expected to find its first resistance at 1.0987, and a rise through could take it to the next resistance level of 1.1000.

 

Important Economic Events of the Day

  • USD: Fed’s Chair Powell Speech
  • USD: FOMC Minutes

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

 

 



#318 xtreamforex.com

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Posted 16 October 2019 - 08:57 AM

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

 

AUD USD

 

AUD traded lower against USD and closed at 0.6752.

  • AUD/USD -0.25% as China reacts to US House taking hard line over Hong Kong
  • China says US House should stop interfering in HKG
  • Undermined by weak AXJ currencies as PBOC Yuan fix on high side of forecasts

The "retail sales control group", published by US Census Bureau, represents the total industry sales that are used to prepare the estimates of PCE for most goods.

 

According to the Analysis, pair is expected to find support at 0.6744 and a fall through could take it to the next support level of 0.6733. The pair is expected to find its first resistance at 0.6780 and a rise through could take it to the next resistance level of 0.6791.

GBP USD

GBP traded lower against USD and closed at 1.2786.

 

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 1.2646 and a fall through could take it to the next support level of 1.2600. The pair is expected to find its first resistance at 1.2796, and a rise through could take it to the next resistance level of 1.2842.

 

Important Economic Events of the Day

  • GBP: Consumer Price Index (YoY) (Sep)
  • GBP: BoEs Governor Carney Speech
  • USD: Retail Sales Control Group (Sep)
  • CAD: BoCs Consumer Price Index Core (YoY) (Sep)

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

 

 



#319 xtreamforex.com

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Posted Yesterday, 06:42

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.

 

For more information: https://xtreamforex.com/

 



#320 xtreamforex.com

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Posted Today, 09:39

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!

 

 






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