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401

Re: Daily Market News by Xtreamforex.com

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/

402

Re: Daily Market News by Xtreamforex.com

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!

403

Re: Daily Market News by Xtreamforex.com

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
•    EUR/JPY & EUR/CNH sales help keep pair pinned just above day's low
•    USD/JPY & US equities sell-off sharply, EUR/USD spikes up near 1.1020
•    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!

404 (edited by xtreamforex.com 2019-11-22 07:40:29)

Re: Daily Market News by Xtreamforex.com

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!

405

Re: Daily Market News by Xtreamforex.com

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 Economic Calendar Page!

406

Re: Daily Market News by Xtreamforex.com

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!

407

Re: Daily Market News by Xtreamforex.com

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

EUR USD

EUR traded higher against USD and closed at 1.1128.

•    EUR/USD stalls its strong intraday rally near 1.1200 round-figure mark.
•    Acceptance above 200-DMA support prospects for additional gains.

The EUR/USD pair maintained its strong bid tone through the early European session on Friday, albeit has retreated around 20-25 pips from the 1.1200 handle, or four-month tops.

Extremely overbought conditions on hourly charts seemed to be the only factor that kept a lid on any strong follow-through, rather prompted some profit-taking at higher levels.

According to the Analysis, pair is expected to find support at 1.1125 and a fall through could take it to the next support level of 1.1102. The pair is expected to find its first resistance at 1.1199 and a rise through could take it to the next resistance level of 1.1222

GBP USD

GBP traded higher against USD and closed at 1.3162.

•    Trades close to the top of a 1.3162/1.3516 range, after a hectic session
•    EUR/GBP is at the base of a 0.8278/0.8426 with huge flow for Asia
•    Bids at 1.3450 provided a base after initial jump - 1.3450 1BLN strikes
•    Early results support the exit poll prediction of an 86 Boris landslide
•    EU welcomes a strong UK mandate into upcoming trade talks
•    Charts show GBP trending higher, but over stretched short term
•    Stunning Conservative victory will totally change UK politics

According to the Analysis, pair is expected to find support at 1.3170 and a fall through could take it to the next support level of 1.3061. The pair is expected to find its first resistance at 1.3524, and a rise through could take it to the next resistance level of 1.3633.

Important Economic Events of the day

•    EUR: EU Leaders Summit
•    JPY: BoJ Tankan Large Manufacturing Index
•    USD: Retail Sales m/m
•    USD: Retail Inventories m/m

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

408 (edited by xtreamforex.com 2019-12-27 07:51:10)

Re: Daily Market News by Xtreamforex.com

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

EUR USD

EUR traded higher against USD and closed at 1.1096.

•    EUR/USD is gaining ground on broad-based dollar selling.
•    The pair is closing on a crucial trendline hurdle at 1.1140.
•    With gold rising amid trade optimism, a breakout looks likely.

The easing of trade tensions is good news for Germany. The 18-month US-China trade war had pushed the Eurozone's manufacturing powerhouse and biggest economy to the brink of recession.

As a result, the dollar could continue to lose ground in Friday's European session – more so, as the equity market buoyancy is expected to continue with Amazon, the e-commerce giant, reporting record holiday season.

According to the Analysis, pair is expected to find support at 1.1087 and a fall through could take it to the next support level of 1.1080. The pair is expected to find its first resistance at 1.1107 and a rise through could take it to the next resistance level of 1.1114.

USD CAD

USD traded lower against CAD and closed at 1.3121.

•    USD/CAD on track for a test below 1.31 the figure on firm commodity complex.
•    Phase-one trade deal between the US and China is in the making, supporting commodity currencies.

Funds are under pressure as the commodity complex catches a bid on the so-called 'phase-one' trade deal that is scheduled to be signed in January between the US and China.

The trade, ownership and technology practices of Chinese companies for the past two decades will not vanish overnight, nor will optimism of US and Canadian executives return with two signatures. 

According to the Analysis, pair is expected to find support at 1.3100 and a fall through could take it to the next support level of 1.3087. The pair is expected to find its first resistance at 1.3144, and a rise through could take it to the next resistance level of 1.3157.

Important Economic Events of the Day

•    JPY: Retail Sales m/m
•    USD: EIA Crude Oil Stocks Change
•    USD: Baker Hughes US Oil Rig Count
•    GBP: Nationwide HPI m/m

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

409

Re: Daily Market News by Xtreamforex.com

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 Economic Calendar Page!
https://xtreamforex.com/Economic_Calendar.html

410 (edited by xtreamforex.com 2020-01-07 10:51:09)

Re: Daily Market News by Xtreamforex.com

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

EUR /USD

• EUR traded lower against USD and closed at 1.1193

The market is well placed to retest resistance at 1.1197- 1.1240 – namely the 55-week ma, the 2019-2020 down channel, and the recent high. This guards the 200-week ma at 1.1360 which continues to represent a critical breakpoint medium term.”

“Dips lower are well supported by the 55 and 20-day ma at 1.1095/1.1065 and the 3-month uptrend at 1.1045.”
“Failure at the uptrend would target the 1.0981 29th November low.”

According to the Analysis, pair is expected to find support at 1.1167 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 1.1205 and a rise through could take it to the next resistance level of 1.1216.

GBP/USD

GBP traded higher against USD and closed at 1.3167

“We look for dips lower to remain well supported by the 55-day ma at 1.2987. The low on the 23rd December was 1.2908 and while above here we will assume an upside bias to retest the December high at 1.3515.”

“The December high at 1.3515 guards the September 2017 high and 38.2% retracement (of the move down from 2014) at 1.3658/68. This guards the more important 1.3918 2007 -2020 downtrend.”

According to the Analysis, pair is expected to find support at 1.2841 and a fall through could take it to the next support level of 1.2604. The pair is expected to find its first resistance at 1.3461, and a rise through could take it to the next resistance level of 1.3607.

Important Economic Events of the Day

•    EUR Retail Sales m/m.
•    EUR Retail Sales y/y.
•    GBP 10-Year Treasury Gilt Auction.
•    USD Trade Balance.

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

411

Re: Daily Market News by Xtreamforex.com

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 Economic Calendar Page!

412 (edited by xtreamforex.com 2020-01-21 07:29:57)

Re: Daily Market News by Xtreamforex.com

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 visit Economic Calendar Page!

413

Re: Daily Market News by Xtreamforex.com

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 visitEconomic Calendar Page!

414

Re: Daily Market News by Xtreamforex.com

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

AUD traded Higher against USD and closed at  0.6686

AUD/USD sustains the bounce above 0.6700 amid mixed Australian NAB Business Survey and Home Loan data. The spot draws support from a risk-on rally in the Asian stocks, as coronavirus fears take a back seat.

•    AUD/USD is reporting marginal gains despite below-forecast NAB data.
•    The 14-day RSI is reporting a bullish divergence.
•    Australia's Home Loan data bettered estimates by a big margin.
•    That alongside the uptick in the equities could help the Aussie eke out notable bounce.
•   

According to the Analysis, pair is expected to find support at 0.6673 and a fall through could take it to the next support level of 0.6663. The pair is expected to find its first resistance at 0.6703 and a rise through could take it to the next resistance level of 0.6713.

USD/JPY
USD traded higher against JPY and closed at 109.74

•    USD/JPY holds onto recovery gains from 21-day SMA.
•    A sustained break of monthly high will divert the bulls towards the yearly top.
•    200-day SMA acts as key support.

USD/JPY registers 0.10% gains while rising to 109.85 by the press time of the pre-European session on Tuesday. In doing so, the quote justifies the bullish candlestick formation portrayed the previous day.
As a result, prices are now gearing up to the monthly top surrounding 110.05, a break of which will escalate the latest recovery towards January 17 high near 110.30.

According to the Analysis, pair is expected to find support at 109.65 and a fall through could take it to the next support level of 109.58. The pair is expected to find its first resistance at 109.85 , and a rise through could take it to the next resistance level of 109.92.

Important Economic Events of the Day
•    GBP  Manufacturing Production m/m
•    GBP  GDP q/q
•    GBP  GDP m/m
•    GBP  GDP 3m/3m

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

EUR/USD

• EUR traded Higher against USD and closed at  1.0791

EUR/USD closed out Tuesday below 1.07 to print the weakest daily close since April 2017.
More importantly, the single currency formed a bearish marubozu candle, implying a continuation of the downtrend.

A red marubozu, the one with a large body and little or no shadows, occurs when sellers control the price throughout the day, and is considered very bearish.

The back-to-back big red marubozu candles seen on the weekly chart are also painting a bearish picture.

According to the Analysis, pair is expected to find support at 1.0786 and a fall through could take it to the next support level of 1.0774 The pair is expected to find its first resistance at 1.0826 and a rise through could take it to the next resistance level of 1.0838.

GBP/USD

•    GBP traded higher against USD and closed at 1.2998

•    GBP/USD fails to register noticeable moves following a Tuesday’s Doji candlestick.
•    Short-term moves are confined between 50 and 100-day SMA, 61.8% Fibonacci retracement offers immediate resistance.
•    The monthly bottom can please sellers below 100-day SMA.
GBP/USD remains a little changed below 1.3000 during early Wednesday. The cable posted a trend reversal Doji candlestick formation the previous day. Though, 50-day and 100-day SMA continue to restrict near-term moves.

While the recent Doji favors the pair’s pullback, 61.8% Fibonacci retracement of its November-December 2019 upside, at 1.3055, could lure the buyers ahead of making them confront 50-day SMA level of 1.3067.

According to the Analysis, pair is expected to find support at 1.2976 and a fall through could take it to the next support level of 1.2958. The pair is expected to find its first resistance at 1.3036 and a rise through could take it to the next resistance level of 1.3054

Important Economic Events of the Day

•    USD Building Permits
•    USD Housing Starts m/m
•    USD PPI m/m
•    USD FOMC Member Kashkari Speech
More information about the release time of news and its impact visit Economic Calendar Page!

416

Re: Daily Market News by Xtreamforex.com

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

USD traded lower against JPY and closed at 110.42
USD/JPY stalls its bounce near 110.40 regions and meets fresh supply over the last hour, as the risk-off sentiment intensifies amid rising coronavirus risks and knocks-off the US 10-year Treasury yields to a new record low just above the 1.30% level.
•    USD/JPY printed a bullish inside day candlestick pattern on Wednesday.
•    The pair could find bids and challenge resistance at 110.70-111.00.
•    USD/JPY: Bulls and bears jostle below 111.00 amid coronavirus fears
•    USD/JPY fails to hold onto the previous day’s recovery gains.
•    Traders smell fears in the US President Donald Trump’s measured comments.
•    Coronavirus updates keep the risk-tone under pressure; US data will decorate the economic calendar.
•    USD/JPY drops back towards 110.00 as US 10-year Treasury yields hit record lows

According to the Analysis, pair is expected to find support at 110.18 and a fall through could take it to the next support level of 110.05. The pair is expected to find its first resistance at 110.62, and a rise through could take it to the next resistance level of 110.75.

AUD USD
AUD traded higher against USD and closed at 0.6543.

AUD/USD extends the bounce above 0.6550 after Australia's Q4 Capex data release. The headline number missed forecasts; however, estimates for 2020/21 bettered expectations. The risk-off tone in the markets could cap the further upside in the spot.

•    AUD/USD looks oversold as per the daily chart RSI.
•    The 4-hour chart RSI is reporting a bullish divergence.
•    The broader trend remains bearish with the pair stuck in a falling channel.
•    AUD/USD may witness a corrective bounce as technical charts are signaling seller exhaustion.

The 4-hour chart RSI has charted higher lows, contradicting lower lows on price. That bullish divergence indicates the bearish momentum has ebbed. The inverted hammer seen on the 4-hour chart is also echoing similar sentiments.

According to the Analysis, pair is expected to find support at 0.6540 and a fall through could take it to the next support level of 0.6524. The pair is expected to find its first resistance at 0.6590 and a rise through could take it to the next resistance level of 0.6606.

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

417

Re: Daily Market News by Xtreamforex.com

Technical Overview of EUR/USD, and AUD/USD Currency Pairs!!

The EUR/USD pair was at the edge with the above level at 1.1450 with the year to date high at the level 1.1492. Moreover, the pair will be rose up to a higher level at 1.1467 that will be dropped sharply to level 1.1400 before going to snapping back again. If we talk about the Today the pair will still at the higher for the EUR. It could reach level 1.1492. On the downside, the pair will be a breach at the minor level with the minor support of 1.1425 that will build up the momentum.

The declining upward pressure got a lift, though a minor one as EUR rose to a high at the level 1.1467 yesterday (20 Jul) before settling marginally higher at 1.1444 (+0.16%). From here, the possibility for a break of 1.1492 has expanded however taking into account the still 'provisional' force, it is left to be checked whether EUR can extend out its benefit to 1.1540. In general, the uplifting standpoint for EUR is regarded as flawless except if there is an entrance of 1.1375.

The Pair were previously closed at level 1.1444. The support and resistance level for the pair will be 1.1398 and 1.1444.
AUD/USD
AUD/USD rises to 0.7033, up 0.20% on a day, during the early Tuesday. The pair as of late profited by peppy RBA minutes while moving the earlier day's positive thinking. Dealers currently expect remarks from the RBA Governor Philip Lowe for a supported course.

Minutes of the most recent RBA financial approach stated, "Individuals concurred that there was no compelling reason to modify the bundle of measures in Australia in the current condition." This opposes the prior expectations that the policymakers are stresses over the second introduction of the coronavirus (COVID-19).

The Pair were previously closed at level 0.7013. The support and resistance level for the pair will be 0.7008 and 0.7024.

Upcoming ECONOMIC Event’s
•    AUD RBA Governor Lowe Speech
•    CAD Retail Sales m/m
•    CAD Core Retail Sales m/m

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418

Re: Daily Market News by Xtreamforex.com

Major Economic Events in the 1st week of August 2020

https://xtreamforex.com/wp-content/uploads/2020/08/tuesday-image1.jpg

Get all updates on international economy, Business news, Global market news, world business, and global business trade on Business Standard. Major Economic Events in the Market this week are as following:

3 August 14:00 USD ISM Manufacturing Employment Index

It shows the business conditions in the US manufacturing sector to predict the overall conditions of the US. It will be consensus with the 48.4 and the previous forecast was 52.6 it will predict that it will seem 50-50 positive and negative effect for USD.

4 August 22:45 NZD Employment Change and Unemployment Rate (Q2)

Unemployment Rate: It shows the unemployed workers divided by the total civilian force. It will be expected that if the rate is up it will weaken the New Zealand economy on the other side decrease in the Figure will seem as positive or bullish for the NZD when the increase is seen as the negative.

Employment Change: Employment change measures the change in the number of employed people. It will be expected to implications for consumer spending to economic growth. High is seen as positive for the NZD and low reading is seems negative.

5 August 9:00 EUR Retail Sales (YoY) (Jun)

Retail Sale measures the performance in the retail sector in the short term. It will reflect the rate of change in sales. It will expected usually the positive economic growth in Bullish while the low reading seems Negative.

14:00 USD ISM Non-Manufacturing (PMI)(Jul)

It shows the business conditions in the US non-manufacturing sector. The non-manufacturing sector does not influence either positively or negatively.

6 August 06:00 GBP Bank of England Monetary Policy

It will analyze the quarterly report in the inflation projections based on the Monetary Policy committee bases. Expected that high reading is seen as positive for the GBP.

7 August 12:30 USD NFP (Nonfarm Payrolls)

The monthly changes in payrolls can be extremely volatile, due to its high relation with economic policy decisions made by the Central Bank. The number is also subject to strong reviews in the upcoming months, and those reviews also tend to trigger volatility in the forex board. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish), although previous months reviews and the unemployment rate are as relevant as the headline figure, and therefore market's reaction depends on how the market assets them all.

For More information about Economic Events click here: https://xtreamforex.com/economic-calendar/

419

Re: Daily Market News by Xtreamforex.com

Technical Overview of AUD/USD

AUD/USD

The AUD/USD pair will be traded at the level 0.7215 and go down from China released July month trade data at the Early Friday.

The Aussie pair has as of late been beaten somewhere in the range of 0.7210 and 0.7220 after its U-turn an 18-month top in the midst of the underlying Asian meeting.

China's July month Trade Balance crossed conjecture and earlier while blazing 442.23 B figures on a Chinese Yuan basis. Subtleties recommend that the Exports flood from 2.3% expected and 4.3% past directions to 10.4% yet Imports switched - 0.7% market understanding with 1.6% figures.

Except if breaking a rising pattern line from May 22, combined with 21-day EMA, close to 0.7110-0.7100, the bears are less inclined to take controls. Therefore, bulls focusing on the year 2019 top close to 0.7300 should stay confident.

The AUD/USD was previously close at the level of 0.7233. The Support and Resistance level of the pair will be 0.7184 and 0.7213. 

EUR/USD

The EUR/USD pair has attacked multiple times over the most recent five days to close above at the level 1.19.

On Thursday, the currency pair timed a high of 1.1916 yet located at 1.1876. Comparable value activity was seen on Wednesday and last Friday.

The repeated removal above 1.19 approves the overbought on the 14-day relative quality record and recommends the ebbing of bullish energy. A comparative message is being resounded by Thursday's turning top flame the one with long wicks and a little body.

The pair will be situated at 1.1696 (Aug. 3 low), which whenever understood, would doubt a higher lows arrangement on the day by day outline and yield a decrease to 1.1422 (June 10 high).

The EUR/USD was previously close at the level of 1.1875. The Support and Resistance level of the pair will be 1.1804 and 1.1843. 

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420

Re: Daily Market News by Xtreamforex.com

Technical Overview of EUR/USD and GBP/USD

EUR/USD

The EUR/USD pair will run out of the stream and reached the level 1.1916 on Thursday that indicates the technical indicators.

The EUR/USD pair daily chart indicates the bearish divergence according to the Relative strength index with slow stochastic. Moreover, the bearish divergence occurs that indicates the chart lower highs that opposed the higher lows and the Higher highs in Price that will take to be the sign of the Bullish momentum.

On Friday the pair was a decline at the level 0.78% to validated the uptrend exhaustion by the Thursday formed the spinning top candle that confirmed the short term bullish to a bearish trend change.

All things considered, a more grounded pullback might be seen for this present week. Quick help is situated at 1.1696 (Aug. 3 low), which, whenever entered, would declare a double top breakdown on the day by day chart and open the entryways for 1.1482 (focus according to the planned move strategy). On the higher side, 1.1916 is the level to beat for the bulls. At press time, the pair is sidelined close to 1.1791.

GBP/USD

GBP/USD was traded around the level at 1.3050 during the early Monday's Asian meeting. In doing as such, the Cable trims increase following a U-turn a seven-day-old helpline. The information could be followed by the pair's failure to cross 200-HMA.

Other than the 200-HMA and quick helpline, weak RSI conditions and waiting for MACD furthermore bring up issues for the pair traders. Subsequently, they search for an away from of any of these key specialized levels for new headings.

The Cable pair will be traded upside that breaks the 200 HMA at level 1.3067 that will aim to go at the level 1.3100 the pair further go up with the ascending trend line and currently traded at the level 1.3190.

It will be expected, a drawback break below the referenced helpline, close at the level  1.3020, can attack the 1.3000 points to return to July 28 top close to 1.2950.

It ought to likewise be noticed that the pair's ascent past-1.3190 will require approval from 1.3200 before examining the bulls. In the interim, the bears' strength past-1.2950 can feature at the level 1.2840/35.

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421 (edited by xtreamforex.com 2020-08-17 06:42:12)

Re: Daily Market News by Xtreamforex.com

EUR/USD Pair Underpinned As Fiscal Impasse In Washington

The EUR/USD pair will be rally looks at the technical indicators that will pull back to the remain elusive as the impasse in Washington that will keep the dollar into the bulls.

The EUR/USD pair is trading at the level to 1.1860 according to the press time that will represent the gain at the level with a 0.17% gain on the day. If we see the weekly chart the relative strength index is having the above 70 that will indicate the overbought market conditions for the first time in over 2.5 years.

Be that as it may, slowed down coronavirus boost dealings in Washington and worrying Sino-US strains may hold the dollar under tension and confine losses in EUR/USD.

Then, the US and China postponed an audit of their Phase 1 economic accord at first booked for Saturday and have not reported another date up until this point. President Trump gave a chief request on Friday forcing ByteDance, the Chinese organization behind TikTok, to auction or branch off its US online networking business in 90 days.

GBP/USD Pair Winning the Streak Attack at 1.3100 on Print Three Day

The GBP/USD pair will go up and picks up the bid at the level near the 1.3100 up with 10% during the Monday Morning. The cable pair will stay beyond the 10-day EMA to the Third day according to the press time.

According to the  RSI and MACD are both against the further run-up, which thus pushes venders to search for any drawback past at the level 1.3055, involving 10-day EMA, for ways.

It will be traded at the level 1.3000 and the month to month low around the level with  1.2980 can offer an extra channel toward the south, a rising pattern line from June 30, at 1.2885 presently, turns into the key help to watch.

On the upside, 1.3140 and the month to month top around 1.3185 can offer close by protection from the pair in front of the March month's peak including at the level 1.3200.

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422 (edited by xtreamforex.com 2020-08-24 05:49:40)

Re: Daily Market News by Xtreamforex.com

EUR/USD Goes Deeper Below and Strengthening Momentum

The EUR/USD pair used the gauge trend strength and the trend changes on the daily chart histogram that producing the deeper bars below the zero line on the bearish momentum.

The trendline support of the 14-day relative strength Index is dived out and signaling to the end of the uptrend to the low level near to the 1.08 that observed in May.

That alongside Friday's bearish covering light recommends scope for a decrease to the level at 1.1729 the lower end of the everyday chart sideways channel. A violation there would move the concentration to the rising trendline support, presently traded at the level 1.1620. On the higher side, a nearby over Friday's high of 1.1883 is expected to negate the bearish viewpoint.

GBP/USD Slipped below to the Monthly Support Line

The GBP/USD was traded at level 1.3090 during this early Monday. The cable pair slipped below to the 100-bar SMA level during this late Friday that breaks the short term support line to the convince seller.

Thus, bears may search for sections under an upward inclining pattern line from July 30, at the level 1.3055 now, before expressing their strength.

In doing as such, 1.3000 and the month to month base around at the level 1.2980 could come back to the figures in front of featuring 1.2915 and July 28 low close to the level 1.2840.

In the interim, an upside break of 100-bar SMA, right now around 1.3105, can focus on the early-month top containing the level at 1.3185 before standing up to March month's top near 1.3200.

If the cable pair stays effective past-1.3200, the ongoing high at the level 1.3265 and December 31, 2019, top close to 1.3285 will be on their radars.

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Re: Daily Market News by Xtreamforex.com

Technical Analysis Of EUR/GBP USD

EUR/USD Pair Flags the Breakout on the 15-Minutes Chart

EUR/USD jumped above at the level  1.1910 during Monday's Asian trading hours, setting off a bullish banner breakout on the 15-minute outline.

A banner is a continuation pattern it quickens the former move. The currency pair rose from 1.18 to 1.1920 on Aug. 28 preceding becoming a banner.

The breakout, along these lines, shows a continuation of the convention from lows closes at the level to 1.18.

The pattern has made space for a meeting to 1.20 (focus according to the planned move strategy).

The quick preference would turn bearish if the pair falls back below at the level 1.19, exposing the bull banner breakout and moving the concentration to the climbing 5-day straightforward moving normal, presently at 1.1860.

GBP/USD Refreshes on 12- Week Old Resistance Line Goes In Focus

GBP/USD falls from the year's head of at the level 1.3368 to 1.3351 in the midst of the underlying hour of Tokyo open on Monday. All things considered, MACD pushes the bulls while 21-day SMA joins a rising pattern line from June 30 to confine the pair's momentary drawback.

Henceforth, bulls can keep the reins and attack an upward inclining pattern line from the early June month, at the level 1.3383 now, while focusing on December 2019 top close to 1.3515 as the following level.

During the pair's upside past-1.3515, 1.3620 and September 2017 high close to the level  1.3660 can challenge the Cable buyers.

Then, any drawback below March month's top around 1.3200 will bring the statement to 1.3130 help conversion including 21-day SMA and the previously mentioned pattern line.

Regardless of whether the pair slips below at the level 1.3130, the 1.3000 edge and the month to month low around 1.2980 will be limiting the extra south-run.

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424 (edited by xtreamforex.com 2020-09-07 06:52:41)

Re: Daily Market News by Xtreamforex.com

Technical Analysis of EUR/ GBP USD

EUR/USD Defend For the Bulls to Defend at the level 1.18

The EUR/USD pair will be traded in a sidelined to the near at the level 1.1837 during this Monday Morning according to the Asian Hours.

The pair will be created the long-tailed candle for the second straight day on this Friday marking to the bear failure below the support level 1.18 and shows the signaling for the reversal higher.

Nonetheless, a move over Friday's high of 1.1865 is expected to confirm a finish of a pullback from the ongoing high of the level 1.2011 and set the bulls back into the driver's seat. On the other hand, a break under trendline ascending from May 14 and July 1 highs would suggest a bullish-to-bearish pattern change. At press time, the trendline uphold is situated at the level at 1.1765.

GBP/USD Old Line Goes Around 1.3250 Seller attack at Seven-Week Support Line

The GBP/USD pair remains on the back foot to the declining level to the 1.3248 goes down 0.23% on the day during the early Monday Trading.

In doing as such, the Cable affronts Friday's Doji light, suggesting an inversion of the past bearish move, in the midst of increasing chances of a no-deal Brexit.

The statement as of now trades almost a momentary helpline, at 1.3245 presently, sponsored by the bearish MACD signals.

In any case, 21-day SMA and a two-month-old rising pattern line, separately around 1.3185 and 1.3140 can scrutinize the traders after.

Then again, a day by day shutting past the 10-day SMA level of 1.3282 will stand up to a momentary flat opposition around the level 1.3360.

For a situation where the bulls figure out how to cross 1.3360, 1.3400 round-figures, and the as of late reflected multi-week high around 1.3480/85 will be at the center of the spotlight.

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425

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Technical Analysis of AUD/ GBP USD

AUD/USD Price Seems Multiple Failure Above 10-day SMA

AUD/USD is trading to a great extent unaltered on the day close to 0.7274 at press time, having confronted dismissal over the 10-day straightforward moving normal (SMA) 0.7285 early today.

The Aussie bulls have neglected to keep increases over the 10-day SMA in five out of the last six trading days.

Readers should take note that the 10-day SMA has finished out and is drifting south, demonstrating a bearish arrangement. All things considered, the repeated inability to beat that diving normal could be taken as a notice of a rising pullback.

The immediate help is seen at 0.7192 (Sept. 9 low), which, whenever entered, would build up a bearish lower high, lower low arrangement, and reveal the mysterious degree of 0.70. On the higher side, the Sept. 10 high of 0.7325 is the level to beat for the bulls.

EUR/USD Pair Indecision Suggest Doji Weekly

EUR/USD made a Doji candle a week ago as it turned the two different ways before printing a level close.

The Doji shows uncertainty in the business center. Thusly, the predisposition will stay impartial while the conversion standard is held inside the Doji's high and low at the level of 1.1918 to 1.1753.

A move below 1.1753 would confirm a bearish Doji inversion example and open the entryways for 1.1495 (March 9 high). On the other hand, a break above 1.1918 would flag a resumption of the more extensive upturn and uncover late highs above 1.20.

The pair is trading generally unaltered on the day at the level 1.1838.

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