Technical Overview of USD/JPY, EUR/USD and GBP/USD Currency Pairs
USD JPY
The USD traded lower against the JPY and closed at 111.761.
Gross Domestic Product (GDP) q/q reflects the monetary value of all goods and services produced in Japan during a given quarter compared to the previous one. The calculation takes into account private consumption, government spending, the costs of all enterprises and net exports of the country.
GDP growth can have a positive effect on yen quotes.
According to the Analysis, The pair is expected to find support at 111.613, and a fall through could take it to the next support level of 111.464. The pair is expected to find its first resistance at 111.913, and a rise through could take it to the next resistance level of 112.064.
Previous Day range was 3000 and Current Day Range is 1890.
EUR USD
The EUR traded higher against the USD and closed at 1.1306.
ECB Interest Rate Decision is announced after the European Central Bank meetings, on which the monetary policy of the euro zone is discussed. The interest rate decisions are taken depending on the inflationary outlook and economic growth.
Cut in deposit rates may have a negative effect on EUR quotes.
Gross Domestic Product q/q reflects the changes in the total value of all goods and services produced in the euro area in the current quarter compared to the previous one. The calculation excludes the price of goods and services used in the intermediate manufacturing. The data are seasonally adjusted.
GDP allows evaluating the rate of the economic growth and living standard of the population. The growth of the indicator value can have a positive effect on euro quotes.
The pair is expected to find support at 1.12876, and a fall through could take it to the next support level of 1.12693. The pair is expected to find its first resistance at 1.13243, and a rise through could take it to the next resistance level of 1.13427.
EUR USD previous Day range was 36.7 and Current Day Range is 12.6.
GBP USD
The GBP traded little higher against USD and closed at 1.3168.
Initial Jobless Claims show the number of people filing to receive unemployment insurance benefits for the first time over the past week.
The indicator is used to assess the state of the labor market. Since the weekly flow of data causes high volatility, the four-week average values are used most often for interpretation.
The indicator growth can have a negative effect on US dollar quotes.
According to the analysis, pair is expected to find support at 1.31339, and a fall through could take it to the next support level of 1.31002. The pair is expected to find its first resistance at 1.31900, and a rise through could take it to the next resistance level of 1.32124.
GBP USD previous day range was 56.1 and current day range is 16.6.
Technical Overview of USD/CHF, NZD/USD and AUD/USD Currency Pairs
USD CHF
The USD traded lower against the CHF and closed at 1.0113.
According to the Analysis, The pair is expected to find support at 1.00578, and a fall through could take it to the next support level of 1.00023. The pair is expected to find its first resistance at 1.01464, and a rise through could take it to the next resistance level of 1.01795.
Previous Day range was 88.6 and Current Day Range is 14.1.
NZD USD
The NZD traded higher against the USD and closed at 0.6751.
The pair is expected to find support at 0.67335, and a fall through could take it to the next support level of 0.67157. The pair is expected to find its first resistance at 0.67804, and a rise through could take it to the next resistance level of 0.68095.
NZD USD previous Day range was 46.9 and Current Day Range is 23.7.
AUD USD
The AUD traded little lower against USD and closed at 0.7015.
According to the analysis, pair is expected to find support at 0.69963, and a fall through could take it to the next support level of 0.69973. The pair is expected to find its first resistance at 0.70428, and a rise through could take it to the next resistance level of 0.70703.
AUD USD previous day range was 46.5 and current day range is 22.2.
Technical Overview of EUR/USD, NZD/USD and USD/JPY Currency Pairs
EUR USD
The EUR traded lower against the USD and closed at 1.1234.
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, The pair is expected to find support at 1.11975, and a fall through could take it to the next support level of 1.11613. The pair is expected to find its first resistance at 1.12577, and a rise through could take it to the next resistance level of 1.12817.
Previous Day range was 60.2 and Current Day Range is 14.
NZD USD
The NZD traded lower against the USD and closed at 0.6804.
Electronic Card Retail Sales m/m reflect a percentage change in electronic card transactions over the reported month compared to the previous one. The indicator can be used in the estimation of consumer spendings and economic activity.
The indicator values are seasonally adjusted and can be revised on a monthly basis, while monthly movements can fluctuate.
The pair is expected to find support at 0.67648, and a fall through could take it to the next support level of 0.67251. The pair is expected to find its first resistance at 0.68272, and a rise through could take it to the next resistance level of 0.68499.
NZD USD previous Day range was 62.4 and Current Day Range is 19.8.
USD JPY
The USD traded little lower against JPY and closed at 111.168.
According to the analysis, pair is expected to find support at 110.761, and a fall through could take it to the next support level of 110.353. The pair is expected to find its first resistance at 111.612, and a rise through could take it to the next resistance level of 112.055. USD JPY previous day range was 8510 and current day range is 2750.
Technical Overview of GBP/USD, AUD/USD and USD/CHF Currency Pairs
GBP USD
The GBP traded higher against the USD and closed at 1.3149.
• GBP/USD struggles to hold recent strength as it trades near 1.3220 ahead of London open on Tuesday. • The pair rose to 1.3290 during early-day increase after Brexit optimists welcomed the meeting between the UK PM Theresa May and the EU Commission Chief Jean-Claude Juncker.
The UK Parliament will decide whether the UK PM May's Brexit Plan is valid or not. In the case the Parliament don't approve it, chances of a hard Brexit will increase exponentially.
Nothing is more important this week than the Brexit votes on Tuesday, Wednesday and possibly also Thursday. There's no exact time for the vote but it will be after the debates, which usually end evening time in the UK. That puts a vote somewhere after 18/19 GMT or 2pm/3pm NY time. It could be even later but it shouldn't be earlier than 18 GMT. This week's vote will determine 3 things - 1. Will the UK accept the EU's withdrawal agreement 2. Will the UK rule out leaving with no deal 3. Will Article 50 be extended? According to the Analysis, The pair is expected to find support at 1.30160, and a fall through could take it to the next support level of 1.28829. The pair is expected to find its first resistance at 1.32251, and a rise through could take it to the next resistance level of 1.33011.
Previous Day range was 209.1 and Current Day Range is 139.3.
AUD USD
The AUD traded higher against the USD and closed at 0.7068.
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.
The pair is expected to find support at 0.70375, and a fall through could take it to the next support level of 0.70069. The pair is expected to find its first resistance at 0.70876, and a rise through could take it to the next resistance level of 0.71071. AUD USD previous Day range was 50.1 and Current Day Range is 22.8.
USD CHF
The USD traded little higher against CHF and closed at 1.0105.
According to the analysis, pair is expected to find support at 1.00768, and a fall through could take it to the next support level of 1.00483. The pair is expected to find its first resistance at 1.01266, and a rise through could take it to the next resistance level of 1.01479.
USD CHF previous day range was 49.8 and current day range is 14.
Technical Overview of GBP/USD, EUR/USD and USD/CAD Currency Pairs
GBP USD
The GBP traded higher against the USD and closed at 1.3068.
Overnight, it was another loss for UK Prime Minister May which now means lawmakers are likely to push for a delay to the 29 March deadline. However, 149-vote loss sets the bar seriously high for Theresa May to turn the tables around.
Spring Forecast Statement is a statement made annually by HM Treasury to Parliament upon publication of economic forecasts.
The statement features analysis of the economic situation in the UK and in the world, describes economic outlooks and provides previews of the government budget for the next year.
The event has a short-term impact on financial markets depending on the HM Treasury rhetoric. Positive outlooks have a positive impact on the pound sterling.
According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.29535, and a fall through could take it to the next support level of 1.28386. The pair is expected to find its first resistance at 1.32341, and a rise through could take it to the next resistance level of 1.33998.
Previous Day range was 280.6 and Current Day Range is 30.6.
EUR USD
The EUR traded lower against the USD and closed at 1.1287.
The Nondefense Capital Goods Orders Excluding Aircraft, released by the US Census Bureau, measures the cost of orders received by manufacturers for capital goods (capital goods are durable goods used in the production of goods or services), which means goods planned to last for three years or more, excluding the defense and aircraft sectors. As those durable products often involve large investments they are sensitive to the US economic situation. Generally speaking, a high reading is bullish for the USD, while a low reading is seen as Bearish.
The pair is expected to find support at 1.12530, and a fall through could take it to the next support level of 1.12185. The pair is expected to find its first resistance at 1.13133, and a rise through could take it to the next resistance level of 1.13391.
EUR USD previous Day range was 60.3 and Current Day Range is 6.8.
USD CAD
The USD traded little higher against CAD and closed at 1.3353.
Core Durable Goods Orders m/m reflect the value of orders received by manufacturers of durable goods in the given month compared to the previous one. The production of transport industry is excluded from the calculation.
The index allows forecasting future production volumes in the short term. The value growth can have a positive effect on dollar quotes. According to the analysis, pair is expected to find support at 1.33307, and a fall through could take it to the next support level of 1.33089. The pair is expected to find its first resistance at 1.33957, and a rise through could take it to the next resistance level of 1.34389.
USD CAD previous day range was 65 and current day range is 21.1.
Technical Overview of EUR/USD, USD/CAD and AUD/USD Currency Pairs
EUR USD The EUR traded higher against the USD and closed at 1.1324.
According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.12993, and a fall through could take it to the next support level of 1.12750. The pair is expected to find its first resistance at 1.13460, and a rise through could take it to the next resistance level of 1.13684.
Previous Day range was 46.7 and Current Day Range is 18.8.
USD CAD The USD traded lower against the CAD and closed at 1.3341.
The pair is expected to find support at 1.32963, and a fall through could take it to the next support level of 1.32517. The pair is expected to find its first resistance at 1.33782, and a rise through could take it to the next resistance level of 1.34155.
USD CAD previous Day range was 81.9 and Current Day Range is 30.2.
AUD USD The AUD traded higher against USD and closed at 0.7085.
According to the analysis, pair is expected to find support at 0.70652, and a fall through could take it to the next support level of 0.70456. The pair is expected to find its first resistance at 0.71007, and a rise through could take it to the next resistance level of 0.71166.
AUD USD previous day range was 35.5 and current day range is 36.8.
Technical Overview of EUR/USD, NZD/USD and USD/CHF Currency Pairs
EUR USD
The EUR traded lower against the USD and closed at 1.1300.
The Ifo Business Climate Index reflects the current economic situation and forecasts for the next six months from the point of view of German companies. The indicator is compiled based on a survey of more than seven thousand companies. A higher than expected reading is seen as favorable for the euro quotes, while lower readings are seen as negative.
The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. As part of his job in the Governing Council he gives press conferences in the back of how the ECB observes the current European economy. President's comments may determine positive or negative the Euro's trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).
According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.12532, and a fall through could take it to the next support level of 1.12062. The pair is expected to find its first resistance at 1.13687, and a rise through could take it to the next resistance level of 1.14372.
Previous Day range was 31.9 and Current Day Range is 15.
NZD USD
The NZD traded higher against the USD and closed at 0.6877.
RBNZ Interest Rate Decision is announced by the Reserve Bank of New Zealand. If the RBNZ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the NZD.
The pair is expected to find support at 0.68623, and a fall through could take it to the next support level of 0.68478. The pair is expected to find its first resistance at 0.68942, and a rise through could take it to the next resistance level of 0.69116.
NZD USD previous Day range was 31.9 and Current Day Range is 15.
USD CHF
The USD traded higher against CHF and closed at 0.9934.
According to the analysis, pair is expected to find support at 0.99079, and a fall through could take it to the next support level of 0.98817. The pair is expected to find its first resistance at 0.99652, and a rise through could take it to the next resistance level of 0.99963.
USD CHF previous day range was 57.3 and current day range is 13.1.
Technical Overview of NZD/USD, GBP/USD and EUR/USD Currency Pairs
NZD USD
The NZD traded lower against the USD and closed at 0.6906.
The RBNZ Rate Statement contains the explanations of the decision on interest rates and commentary about the economic conditions that influenced it.
RBNZ Interest Rate Decision is announced by the Reserve Bank of New Zealand. If the RBNZ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the NZD.
According to the Analysis, Four hour chart shows that the pair is expected to find support at 0.68921, and a fall through could take it to the next support level of 0.68781. The pair is expected to find its first resistance at 0.69222, and a rise through could take it to the next resistance level of 0.69383.
Previous Day range was 30.1 and Current Day Range is 118.1.
GBP USD
The GBP traded lower against the USD and closed at 1.3201.
The UK Parliament will decide whether the UK PM May's Brexit Plan is valid or not. In the case the Parliament don't approve it, chances of a hard Brexit will increase exponentially.
The pair is expected to find support at 1.31526, and a fall through could take it to the next support level of 1.31042. The pair is expected to find its first resistance at 1.32544, and a rise through could take it to the next resistance level of 1.33078.
GBP USD previous Day range was 101.8 and Current Day Range is 37.1.
EUR USD
The EUR traded lower against USD and closed at 1.1265.
The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. As part of his job in the Governing Council he gives press conferences in the back of how the ECB observes the current European economy. President's comments may determine positive or negative the Euro's trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish). According to the analysis, pair is expected to find support at 1.12439, and a fall through could take it to the next support level of 1.12224. The pair is expected to find its first resistance at 1.13062, and a rise through could take it to the next resistance level of 1.13470.
EUR USD previous day range was 62.3 and current day range is 25.2.
Technical Overview of USD/JPY, USD/CAD and AUD/USD Currency Pairs
USD JPY
The USD traded lower against the JPY and closed at 110.507.
The Tokyo Consumer Price Index released by the Statistics Bureau is a measure of price movements obtained by comparison of the retail prices of a representative shopping basket of goods and services, excluding fresh food. The index captures inflation in Tokyo. The purchase power of JPY is dragged down by inflation. Generally a high reading is seen as positive for the JPY.
According to the Analysis, Four hour chart shows that the pair is expected to find support at 110.260, and a fall through could take it to the next support level of 110.014. The pair is expected to find its first resistance at 110.730, and a rise through could take it to the next resistance level of 110.954.
Previous Day range was 4700 and Current Day Range is 4110.
USD CAD
The USD traded lower against the CAD and closed at 1.3408.
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.
The pair is expected to find support at 1.33769, and a fall through could take it to the next support level of 1.33456. The pair is expected to find its first resistance at 1.34395, and a rise through could take it to the next resistance level of 1.34708.
USD CAD previous Day range was 62.6 and Current Day Range is 22.1.
AUD USD
The AUD traded higher against USD and closed at 0.7083.
According to the analysis, pair is expected to find support at 0.70535, and a fall through could take it to the next support level of 0.70244. The pair is expected to find its first resistance at 0.71265, and a rise through could take it to the next resistance level of 0.71704.
AUD USD previous day range was 73 and current day range is 25.9.
Technical Overview of EUR/USD, USD/CAD and GBP/USD Currency Pairs
EUR USD
The EUR traded higher against the USD and closed at 1.1218.
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).
According to the Analysis, The pair is expected to find support at 1.12030, and a fall through could take it to the next support level of 1.11883. The pair is expected to find its first resistance at 1.12392, and a rise through could take it to the next resistance level of 1.12607.
Previous Day range was 36.2 and Current Day Range is 13.3.
USD CAD
The USD traded higher against the CAD and closed at 1.3352.
The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).
The pair is expected to find support at 1.33149, and a fall through could take it to the next support level of 1.32777. The pair is expected to find its first resistance at 1.34157, and a rise through could take it to the next resistance level of 1.34793.
USD CAD previous Day range was 100.8 and Current Day Range is 15.2.
GBP USD
The GBP traded higher against USD and closed at 1.3027.
The UK Parliament will decide whether the UK PM May's Brexit Plan is valid or not. In the case the Parliament don't approve it, chances of a hard Brexit will increase exponentially. According to the analysis, pair is expected to find support at 1.29584, and a fall through could take it to the next support level of 1.28898. The pair is expected to find its first resistance at 1.31142, and a rise through could take it to the next resistance level of 1.32014.
GBP USD previous day range was 155.8 and current day range is 31.2.
Oil ignores the bearish API inventory report released day before yesterday and hit five-month highs a few minutes before press time. OPEC's output hit a four-year low in March. The Energy Information Administration is expected to show the US oil inventories dropped last week.
US crude oil inventories unexpectedly rose by 3 million barrels last week, the American Petroleum Institute said on Tuesday. Oil prices, however, have shrugged off the bearish inventory report, and continue to cheer the OPEC-led supply cuts.
According to the analysis, USOil.x pair is expected to find support at 61.91, and a fall through could take it to the next support level of 61.21. The pair is expected to find its first resistance at 63.02, and a rise through could take it to the next resistance level of 63.43.
USOil.x previous day range was 11100 and current day range is 4300.
The Energy Information Administration (EIA) data due later today is expected to show the US crude inventories dropped 100,000 barrels last week. A bigger drawdown could end up pushing WTI higher to $63.59 (resistance of the June 2018 low as per the weekly chart).
Technical Overview of EUR/USD, NZD/USD and GBP/USD Currency Pairs
EUR USD
The EUR traded higher against the USD and closed at 1.122.
Nonfarm Payrolls present the number of new jobs created during the given month, in all non-agricultural sectors of the U.S.
The indicator growth can have a positive effect on dollar quotes.
According to the Analysis, The pair is expected to find support at 1.12015, and a fall through could take it to the next support level of 1.11832. The pair is expected to find its first resistance at 1.12427, and a rise through could take it to the next resistance level of 1.12656.
Previous Day range was 41.2 and Current Day Range is 11.6.
NZD USD
The NZD traded higher against the USD and closed at 0.6752.
The Average Hourly Earnings released by the US Department of Labor is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.
The pair is expected to find support at 0.67336, and a fall through could take it to the next support level of 0.67150. The pair is expected to find its first resistance at 0.67850, and a rise through could take it to the next resistance level of 0.68178.
NZD USD previous Day range was 51.4 and Current Day Range is 15.1.
GBP USD
The GBP traded higher against USD and closed at 1.3071.
According to the analysis, pair is expected to find support at 1.30236, and a fall through could take it to the next support level of 1.29759. The pair is expected to find its first resistance at 1.31539, and a rise through could take it to the next resistance level of 1.32365.
GBP USD previous day range was 130.3 and current day range is 23.5.
Technical Overview of USD/JPY, EUR/USD and AUD/USD Currency Pairs
USD JPY
The USD traded lower against the JPY and closed at 111.709.
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, The pair is expected to find support at 111.594, and a fall through could take it to the next support level of 111.479. The pair is expected to find its first resistance at 111.820, and a rise through could take it to the next resistance level of 111.931.
Previous Day range was 2260 and Current Day Range is 3820.
EUR USD
The EUR traded higher against the USD and closed at 1.1216.
The pair is expected to find support at 1.12035, and a fall through could take it to the next support level of 1.11908. The pair is expected to find its first resistance at 1.12355, and a rise through could take it to the next resistance level of 1.12548.
EUR USD previous Day range was 32 and Current Day Range is 21.3.
AUD USD
The AUD traded lower against USD and closed at 0.7106.
According to the analysis, pair is expected to find support at 0.70880, and a fall through could take it to the next support level of 0.70704. The pair is expected to find its first resistance at 0.71274, and a rise through could take it to the next resistance level of 0.71492.
AUD USD previous day range was 39.4 and current day range is 21.1.
Technical Overview of GBP/USD, NZD/USD and AUD/CAD Currency Pairs
GBP USD
The GBP traded higher against the USD and closed at 1.3048.
The European Council is set to meet in Brussels to discuss Brexit one day ahead of the deadline, trying to come to an agreement on an extension or the UK withdrawal from the EU. This meeting involves the Heads of State and Government of European Union member states.
The Consumer Price Index (CPI) Ex Food & Energy released by the US Department of Labor Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. Those volatile products such as food and energy are excluded in order to capture an accurate calculation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).
According to the Analysis, The pair is expected to find support at 1.30122, and a fall through could take it to the next support level of 1.29763. The pair is expected to find its first resistance at 1.31008, and a rise through could take it to the next resistance level of 1.31535.
Previous Day range was 88.6 and Current Day Range is 19.2.
NZD USD
The NZD traded higher against the USD and closed at 0.674.
The Consumer Price Index (CPI) Ex Food & Energy released by the US Department of Labor Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. Those volatile products such as food and energy are excluded in order to capture an accurate calculation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).
The pair is expected to find support at 0.67315, and a fall through could take it to the next support level of 0.67232. The pair is expected to find its first resistance at 0.67531, and a rise through could take it to the next resistance level of 0.67664.
NZD USD previous Day range was 21.6 and Current Day Range is 14.6.
AUD USD
The AUD traded higher against USD and closed at 0.7121.
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 0.71092, and a fall through could take it to the next support level of 0.70973. The pair is expected to find its first resistance at 0.71425, and a rise through could take it to the next resistance level of 0.71639.
AUD USD previous day range was 33.3 and current day range is 33.1.
Technical Overview of EUR/USD, GBP/USD and AUD/USD Currency Pairs
EUR USD
The EUR traded higher against the USD and closed at 1.1298.
The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).
According to the Analysis, The pair is expected to find support at 1.12584, and a fall through could take it to the next support level of 1.12189. The pair is expected to find its first resistance at 1.13304, and a rise through could take it to the next resistance level of 1.13629.
Previous Day range was 72 and Current Day Range is 15. GBP USD
The GBP traded higher against the USD and closed at 1.3071.
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).
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 pair is expected to find support at 1.30368, and a fall through could take it to the next support level of 1.30023. The pair is expected to find its first resistance at 1.31180, and a rise through could take it to the next resistance level of 1.31647.
GBP USD previous Day range was 81.2 and Current Day Range is 32.2.
AUD USD
The AUD traded higher against USD and closed at 0.7171.
The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.
According to the analysis, pair is expected to find support at 0.71273, and a fall through could take it to the next support level of 0.70835. The pair is expected to find its first resistance at 0.72035, and a rise through could take it to the next resistance level of 0.72359.
AUD USD previous day range was 76.2 and current day range is 15.9.
Technical Overview of NZD/USD, USD/JPY and USD/CHF Currency Pairs
NZD USD
The NZD traded lower against the USD and closed at 0.6762.
Consumer Price Index released by the Statistics New Zealand 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 NZD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative.
According to the Analysis, The pair is expected to find support at 0.67471, and a fall through could take it to the next support level of 0.67326. The pair is expected to find its first resistance at 0.67794, and a rise through could take it to the next resistance level of 0.67972.
Previous Day range was 32.3 and Current Day Range is 27.5.
USD JPY
The USD traded lower against the JPY and closed at 112.033.
Eric Rosengren has been President and CEO of the Federal Reserve Bank of Boston since July 2007. Previously he headed the Bank’s supervision, regulation, and credit group, and was active in domestic and international regulatory policy.
Tertiary Industry Index released by the Ministry of Economy, Trade and Industry indicates the domestic service sector in Japan such as information and communication, electricity, gas heat and water, services, transport, wholesale and retail trade, finance and insurance ,and welfare. As the Japanese economy relies upon its exports, this event is expected to generate low volatility for the JPY. Generally, a high reading is positive (or bullish) for the JPY, while a low reading is negative (or bearish).
The pair is expected to find support at 111.918, and a fall through could take it to the next support level of 111.803. The pair is expected to find its first resistance at 112.120, and a rise through could take it to the next resistance level of 112.207.
USD JPY previous Day range was 2020 and Current Day Range is 1520.
USD CHF
The USD traded lower against CHF and closed at 1.0039. According to the analysis, pair is expected to find support at 1.00169, and a fall through could take it to the next support level of 0.99944. The pair is expected to find its first resistance at 1.00539, and a rise through could take it to the next resistance level of 1.00684.
USD CHF previous day range was 37 and current day range is 14.3.
Technical Overview of USD/CAD, GBP/USD and USD/JPY Currency Pairs
USD CAD
The USD traded lower against the CAD and closed at 1.335.
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, The pair is expected to find support at 1.33294, and a fall through could take it to the next support level of 1.33094. The pair is expected to find its first resistance at 1.33861, and a rise through could take it to the next resistance level of 1.34228.
Previous Day range was 56.7 and Current Day Range is 44.2.
GBP USD
The GBP traded higher against the USD and closed at 1.3043.
Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.
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).
The pair is expected to find support at 1.30231, and a fall through could take it to the next support level of 1.30031. The pair is expected to find its first resistance at 1.30812, and a rise through could take it to the next resistance level of 1.31193.
GBP USD previous Day range was 58.1 and Current Day Range is 34.7.
USD JPY
The USD traded lower against JPY and closed at 112.012.
James Bullard is the President of the Federal Reserve Bank of St. Louis. Dr. Bullard took office on April 1, 2008, as the twelfth chief executive of the Eighth District Federal Reserve Bank, at St. Louis. He is currently serving a full term that began March 1, 2011. In 2013, he serves as a voting member of the Federal Open Market Committee.
According to the analysis, pair is expected to find support at 111.892, and a fall through could take it to the next support level of 111.772. The pair is expected to find its first resistance at 112.087, and a rise through could take it to the next resistance level of 112.162.
USD JPY previous day range was 1950 and current day range is 2410.
Technical Overview of CHF/JPY, USD/CHF and EUR/USD Currency Pairs
CHF JPY
The CHF traded lower against the JPY and closed at 109.923.
CHFJPY has formed a MB/IB on D1. It is in confluence with Yearly and Quarter Pivot. Keep in mind that both the currencies may share equal strength in short term due to weakness in USD( Yet to come).
According to the Analysis, The pair is expected to find support at 109.592, and a fall through could take it to the next support level of 109.261. The pair is expected to find its first resistance at 110.127, and a rise through could take it to the next resistance level of 110.331.
Previous Day range was 5350 and Current Day Range is 3170.
USD CHF
The USD traded higher against the CHF and closed at 1.0200.
The pair has already stretched above 2618 %. Now it has formed MB/IB and is in confluence with the Quarter/Year Pivot Levels. A breakout towards up or down may eventually change the trend.
The pair is expected to find support at 1.01727, and a fall through could take it to the next support level of 1.01453. The pair is expected to find its first resistance at 1.02234, and a rise through could take it to the next resistance level of 1.02467.
USD CHF previous Day range was 50.7 and Current Day Range is 16.5.
EUR USD
The EUR traded higher against USD and closed at 1.1154.
The Pair formed a No Demand No Supply. VPOC level, 61% retracement & Quarter Pivot is in confluence at the market zone. A retracement may lead to further selling or alternatively it may make a new Impulse leg.
According to the analysis, pair is expected to find support at 1.11210, and a fall through could take it to the next support level of 1.10882. The pair is expected to find its first resistance at 1.12063, and a rise through could take it to the next resistance level of 1.12588.
EUR USD previous day range was 85.3 and current day range is 15.5.
Technical Overview of USD/CAD, USD/CHF, EUR/GBP and USD/JPY Currency Pairs
USD CAD
The USD traded lower against the CAD and closed at 1.3485.
The pair stalls at the Quarter Pivot and Monthly Pivot. It also made a Bullish Climax at the Resistance Level. Keep in mind that Pair had also completed Bullish AB=CD Pattern.
According to the Analysis, The pair is expected to find support at 1.34719, and a fall through could take it to the next support level of 1.34591. The pair is expected to find its first resistance at 1.35070, and a rise through could take it to the next resistance level of 1.35293.
Previous Day range was 35.1 and Current Day Range is 18.2.
USD CHF
The USD traded lower against the CHF and closed at 1.0202.
The pair stalls at the Quarter Pivot and Monthly Pivot. It’s in a Mother bar In side bar Formation The daily Moving Average presents a Bullish Momentum( after the resistances are broken) Or else there shall be a successful close below the daily Moving Average to go further down.
The pair is expected to find support at 1.01873, and a fall through could take it to the next support level of 1.01728. The pair is expected to find its first resistance at 1.02219, and a rise through could take it to the next resistance level of 1.02420.
USD CHF previous Day range was 34.6 and Current Day Range is 9.9.
EUR GBP
The EUR traded higher against GBP and closed at 0.8628.
The pair stalls at the Quarter Pivot and Monthly Pivot. It also made a Double Top, Iy closed below the D1 Moving Average. As we know the weakness in EURO is present so, this pair can follow the Classic Double Top Pattern.
According to the analysis, pair is expected to find support at 0.86182, and a fall through could take it to the next support level of 0.86080. The pair is expected to find its first resistance at 0.86462, and a rise through could take it to the next resistance level of 0.86640.
EUR GBP previous day range was 28 and current day range is 8.9.
USD JPY
The USD traded higher against JPY and closed at 111.603.
The pair stalls at the Quarter Pivot and Monthly Pivot. It’s in a range now. But pair started to move. Best option is to wait for pivot breakouts...
According to the analysis, pair is expected to find support at 111.235, and a fall through could take it to the next support level of 110.866. The pair is expected to find its first resistance at 112.105, and a rise through could take it to the next resistance level of 112.606.
USD JPY previous day range was 8700 and current day range is 3360.
Technical Overview of USD/JPY, GBP/USD and GBP/CHF Currency Pairs
USD JPY
The USD traded lower against the JPY and closed at 111.641.
USDJPY formed series of HH and HL then now over night it made LL A series of H & LL is start of a new downtrend The Support from D1 trend line has also broken and has been tested also
Scenario 1: In order to Go Bullish it needs to Break the Yearly Resistance 112.075 Scenario 2: In order to be bearish it needs to push through the Quarterly 111.49
According to the Analysis, The pair is expected to find support at 111.488, and a fall through could take it to the next support level of 111.334. The pair is expected to find its first resistance at 111.846, and a rise through could take it to the next resistance level of 112.050.
Previous Day range was 3580 and Current Day Range is 1340.
GBP USD
The GBP traded higher against the USD and closed at 1.2932.
GBPUSD RESPECTING the resistance from D1 resistance trend line.
Now the pair stalls on the Quarterly Pivots Level
As it can be seen that the pair made a series of LH and LL so a down trend is expected. Alternatively a bullish trend may start after the Daily Trend Line Resistance is broken...
The pair is expected to find support at 1.29087, and a fall through could take it to the next support level of 1.28858. The pair is expected to find its first resistance at 1.29506, and a rise through could take it to the next resistance level of 1.29696.
GBP USD previous Day range was 41.9 and Current Day Range is 23.4.
GBP CHF
The GBP traded higher against CHF and closed at 1.3186.
GBPCHF broke the daily support trend line.
The pair stalls @ Quarterly and yearly Pivot As marked. If the pair breaks the 127 extension then it may bre bullish or else in the alternate scenario if the price breaks the low of Daily support then a DOUBLE TOP may have to form. According to the analysis, pair is expected to find support at 1.31600, and a fall through could take it to the next support level of 1.31346. The pair is expected to find its first resistance at 1.32064, and a rise through could take it to the next resistance level of 1.32274.
GBP CHF previous day range was 46.4 and current day range is 23.2.
Technical Overview of EUR/CHF, NZD/USD and GBP/CHF Currency Pairs
EUR CHF
The EUR traded higher against the CHF and closed at 1.1392.
1- Mother bar @ Middle Quarter Resistance 2 2-The top is the 786 Level retracement 3- The D1 Trend line has also broken. Indicating a Bearish Movement
Scenario 1: If there is a bearish breakout of Mother bar followed by a test with low volume then we may see an AB= CD pattern, With D point in confluence with the Middle Quarter Resistance 1.
Scenario 2: If there is a bullish breakout above the yearly Pivot with a low volume retest then we may see a new Impulse leg which then extend or make a Double Top.
According to the Analysis, The pair is expected to find support at 1.13750, and a fall through could take it to the next support level of 1.13577. The pair is expected to find its first resistance at 1.14244, and a rise through could take it to the next resistance level of 1.14565.
Previous Day range was 49.4 and Current Day Range is 23.9.
NZD USD
The NZD traded higher against the USD and closed at 0.662.
1- H4 Mother bar @MSup1Q1 2-The 61% Level retracement
Scenario 1: If there is a bearish breakout of Mother bar followed by a test with low volume then we may see an AB= CD pattern, With D point in confluence with the Msup1Y1 & Msup1Q1
Scenario 2: If there is a bullish breakout above the yearly Pivot with a low volume retest then we may see a new Impulse leg which then extend or make a Double Top.
The pair is expected to find support at 0.65978, and a fall through could take it to the next support level of 0.65754. The pair is expected to find its first resistance at 0.66608, and a rise through could take it to the next resistance level of 0.67014.
NZD USD previous Day range was 63 and Current Day Range is 27.5.
GBP CHF
The GBP traded higher against CHF and closed at 1.3278.
1- An Effort candle followed by climax candle. 2- Formed candles @ the previous month resistance 3- Followed by no demand no supply 4- Followed by vpoc with low volume
Scenario1: If the pair retraces to the no demand no supply area with low volume then we may see a downward movement. Scenario 2: If we see a bullish breakout then we will need further conformations to go long.
According to the analysis, pair is expected to find support at 1.32556, and a fall through could take it to the next support level of 1.32332. The pair is expected to find its first resistance at 1.33018, and a rise through could take it to the next resistance level of 1.33256.
GBP CHF previous day range was 46.2 and current day range is 50.1.
Technical Overview of GBP/JPY and AUD/NZD Currency Pairs
GBP JPY
The GBP traded higher against the JPY and closed at 146.344.
GBPJPY @ a very strong resistance Reasons 1- The Long Blue candle Represents Climax candle (indicating that smart money may be interested in selling). 2- Abcd formed @ 127Extension. 3- 127 level in confluence with trendline of Pivot Candles. 4- Price approaching the Middle Resistance 1 of 1st Quarter. 5- RSI H4 & D1 Already in Over Bought level. 6- High of Previous Daily & Weekly Candle also Broken. So Scenarios If we see A Low Volume Test (two bullish candles followed by a bearish one with low volume then we can expect selling). If we break above the 161 Level with 2 bearish candles followed by 1 bullish low volume candle may resume uptrend.
According to the Analysis, The pair is expected to find support at 145.254, and a fall through could take it to the next support level of 144.164. The pair is expected to find its first resistance at 146.951, and a rise through could take it to the next resistance level of 147.558.
GBP JPY Previous Day range was 16970 and Current Day Range is 9510.
AUD NZD
The AUD traded higher against the NZD and closed at 1.0572.
The Pair Formed 1- Mother bar in side bar @ the Quarterly Resistance, Previous Month Resistance and Monthly Pivot Levels. It’s in a range for now. 2- 55 and 21 Period Moving average has a downward slope. 3- Pair has made a series of LH and LL and the Trendline from the PIVOT CANDLES has been formed.
Scenarios
1- A break below the Low of Mother bar may continue the trend. Or 2- A break above the Mother bar High may have a change in bias towards the up side. The pair is expected to find support at 1.05557, and a fall through could take it to the next support level of 1.05396. The pair is expected to find its first resistance at 1.05833, and a rise through could take it to the next resistance level of 1.05948.
AUD NZD previous Day range was 27.6 and Current Day Range is 32.4.
Technical Overview of AUD/CHF and EUR/AUD Currency Pair
AUD CHF
The AUD traded lower against the CHF and closed at 0.7128.
It’s an interesting pair; let’s see what it has for us today. The same Directions apply to almost all of the AUD pairs.
1-It formed A daily Motherboard Inside bar 2- It’s in confluence with Yearly Pivots 3- It’s in confluence with Quarter Pivots 4- It’s in confluence with Month Pivots 5- The Pair has been making a series of LL and LH. 6- The Pivotal Trend line has broken to the upside. 7- The Trendline has been Tested
Scenario 1-If we get a break above the 0.7160 -0.7175 Zone of Year/Quarter & Month Pivot then we may Expect to move UP Scenario 2- If we break the lows of Mother bar Inside bar then we may go Down
According to the Analysis, The pair is expected to find support at 0.71082, and a fall through could take it to the next support level of 0.70884. The pair is expected to find its first resistance at 0.71540, and a rise through could take it to the next resistance level of 0.71800.
AUD CHF Previous Day range was 45.8 and Current Day Range is 26.7.
EUR AUD
The EUR traded higher against the AUD and closed at 1.6011.
Pair has formed
1 - It formed a daily Mother bar Inside bar. 2 - It’s in confluence with Yearly Pivots. 3 - It’s in confluence with Quarter Pivots. 4 - Range of Quarter and Year Pivots. 5 - The Pair has been making a series of HH and HL. 6 - Break Above or below the 127 Extension may lead pair to the short term trend.
According to the Analysis, The pair is expected to find support at 1.59644, and a fall through could take it to the next support level of 1.59184. The pair is expected to find its first resistance at 1.60376, and a rise through could take it to the next resistance level of 1.60648.
EUR AUD Previous Day range was 73.2 and Current Day Range is 62.
Technical Overview of EUR/NZD, GBP/CHF and NZD/CAD Currency Pair
EUR NZD
The EUR traded higher against the NZD and closed at 1.7028.
The pair formed a Motherbar Insidebar The pair is stalling @ yearly Pivots The yearly Pivots is same as Previous Quarter Pivot The pair is stalling @ Resistance Quarter The Pair is forming Series of HH and HL
Scenario 1- A break above the Yearly pivot Followed by a Low-Volume Test may from a bullish Trend 2- A break below MResQ1 may lead the pair downward
According to the Analysis, The pair is expected to find support at 1.69899, and a fall through could take it to the next support level of 1.69516. The pair is expected to find its first resistance at 1.70580, and a rise through could take it to the next resistance level of 1.70878.
EUR NZD Previous Day range was 68.1 and Current Day Range is 79.8.
GBP CHF
The GBP traded higher against the CHF and closed at 1.315.
The pair formed a Motherbar Insidebar. The pair is stalling @ Res1 yearly Pivots. The pair is stalling @ Resistance1 Quarter. The Pair is forming Series of HH and HL.
Scenario 1- A break above the Yearly Res1 Followed by a Low-Volume Test may from a BEARISH Trend. 2- A break above MResQ1 may lead the pair UP.
According to the Analysis, The pair is expected to find support at 1.31221, and a fall through could take it to the next support level of 1.30944. The pair is expected to find its first resistance at 1.31987, and a rise through could take it to the next resistance level of 1.32476.
GBP CHF Previous Day range was 76.6 and Current Day Range is 45.8.
NZD CAD
The NZD traded lower against the CAD and closed at 0.8853.
The pair formed a Motherbar Insidebar. The pair is stalling @ Res1 yearly Pivots. The pair is stalling @ support 1 Quarter. The Pair is forming Series of LH and LL.
Scenario 1- A break above the Yearly Res1 Followed by a Low-Volume Test may from a BEARISH Trend. 2- A break above high of Motherbar then may lead the pair UP.
According to the Analysis, The pair is expected to find support at 0.88325, and a fall through could take it to the next support level of 0.88121. The pair is expected to find its first resistance at 0.88831, and a rise through could take it to the next resistance level of 0.89133.
Technical Overview of EUR/JPY and EUR/NZD Currency Pair EUR JPY
The EUR traded lower against the JPY and closed at 122.724.
1 - Formed a Motherbar Inside bar @ D1. 2 – Broke the Quarterly Pivot to the down side. 3 - Making a series of LH and LL. 4 - Main Trend Down.
Break above 127 Extension may form a Bullish Momentum. Break below 127 Extension may form a Bearish Momentum.
According to the Analysis, The pair is expected to find support at 122.518, and a fall through could take it to the next support level of 122.311. The pair is expected to find its first resistance at 122.944, and a rise through could take it to the next resistance level of 123.163.
EUR JPY Previous Day range was 4260 and Current Day Range is 5250.
EUR NZD The EUR traded higher against the NZD and closed at 1.7093.
1 - Formed a Motherbar Inside bar @ D1. 2 - Stalls at the Yearly Pivot. 3 - Making a series of HH and HL.
Break above 127 Extension may form a Bullish Momentum Break below 127 Extension may form a Bearish Momentum
According to the Analysis, The pair is expected to find support at 1.70420, and a fall through could take it to the next support level of 1.69906. The pair is expected to find its first resistance at 1.71337, and a rise through could take it to the next resistance level of 1.71740.
EUR NZD Previous Day range was 91.7 and Current Day Range is 33.6.
Fundamental Events over Night 1 - The dollar held near a two-week high against its peers on Friday, supported by strong U.S. economic data and a bounce in Treasury yields. 2 - Pound falls below $1.28 as pressure builds on May to go. 3 - The Australian Dollar depreciated against the US Dollar, following the Australian Employment data set release on Thursday.
Technical Overview of GBP/JPY and GBP/USD Currency Pair
GBP JPY The GBP traded higher against the JPY and closed at 139.972.
The Pair formed 1 - Formed a Motherbar Inside bar @ D1. 2 - Stalls at the Yearly Support. 3 - Making a series of LH and LL. Break above 127 Extension may form a Bullish Momentum. Break below 127 Extension may form a Bearish Momentum.
Currency Strength Meter shows that JPY is the weakest for now.
According to the Analysis, The pair is expected to find support at 139.595, and a fall through could take it to the next support level of 139.215. The pair is expected to find its first resistance at 140.420, and a rise through could take it to the next resistance level of 140.869.
GBP JPY Previous Day range was 8250 and Current Day Range is 4340.
GBP USD The GBP traded lower against the USD and closed at 1.2721.
The Pair formed 1 - Formed a Motherbar Inside bar @ D1 2 - Stalls at the Yearly Support and The Quarter Support 3 - Making a series of LH and LL
Break above 127 Extension may form a Bullish Momentum. Break below 127 Extension may form a Bearish Momentum.
Currency Strength Meter shows that GBP is the Strongest for now
According to the Analysis, The pair is expected to find support at 1.27044, and a fall through could take it to the next support level of 1.26881. The pair is expected to find its first resistance at 1.27470, and a rise through could take it to the next resistance level of 1.27733.
GBP USD Previous Day range was 42.6 and Current Day Range is 15.6.
Fundamental Overview POUND: Faces the biggest Weekly drop of the year 2019. AUD/USD drops 20 pips after RBA minutes talk of rate. AUD/JPY weakens to revisit 76.00 as RBA minutes seem dovish.
Technical Overview of USD/JPY, EUR/AUD and EUR/JPY Currency Pair
USD JPY
The USD traded higher against the JPY and closed at 110.345.
1- In past it formed a Motherbar Insidebar after a decline of 296 pips, It was in a phase of Accumulation. 2 - Now its above the 60/80 Ema. 3 - Here again it formed a Motherbar Insidebar. 4 - Making a series of HH and HL. 5 - 5 Day ADR High is 110.84 and Low is 109.76 , Roughly 110 pip.
a- 5 Day ADR High b- Middle Support –1 Month C- High of the motherbar/insidebar
Break above the 127 Extension of the motherbar high may trigger buying opportunities Alternatively Break of the Lower ADR value may resume the previous trend. According to the Analysis, The pair is expected to find support at 110.182, and a fall through could take it to the next support level of 110.018. The pair is expected to find its first resistance at 110.566, and a rise through could take it to the next resistance level of 110.786.
USD JPY Previous Day range was 3840 and Current Day Range is 2370.
EUR AUD
The EUR traded higher against the AUD and closed at 1.6201.
I have been watching this pair since 4 days as it has many aspects laying inside it
1 - Making a series of HH and HL 2 - Formed a Motherbar Inside bar @ D1 3 - In confluence with Quarter Pivot Yearly and Quarter Resistance 5 DAY ADR 4 - Formed a Support Trend Line
Break above 127 Extension may form a Bullish Momentum. Break below 127 Extension may form a Bearish Momentum.
According to the Analysis, The pair is expected to find support at 1.61838, and a fall through could take it to the next support level of 1.61670. The pair is expected to find its first resistance at 1.62278, and a rise through could take it to the next resistance level of 1.62550.
EUR AUD Previous Day range was 44 and Current Day Range is 39.4.
EUR JPY
The EUR traded lower against the JPY and closed at 123.03.
EURJPY what is this Pair upto?
1 - In past it formed a Motherbar Insidebar after a decline of 296 pips. 2 - Now its above the 60/80 Ema. 3 - Here again it formed a Motherbar Insidebar. 4 - Making a series of HH and HL. 5 - 5 Day ADR High is 123.63 and Low is 122.39, Roughly 150 pip. 6 - It stalling @ Quarter Pivot & a - 5 Day ADR High b - Middle Support –1 Month C - High of the mother bar/in side bar
Break above the 127 Extension of the mother bar high may trigger buying opportunities Alternatively Break of the Lower ADR value may resume the previous trend.
According to the Analysis, The pair is expected to find support at 122.837, and a fall through could take it to the next support level of 122.645. The pair is expected to find its first resistance at 123.362, and a rise through could take it to the next resistance level of 123.695.
EUR JPY Previous Day range was 5250 and Current Day Range is 2890.
The EUR traded higher against the AUD and closed at 1.6201.
I have been watching this pair since 4 days as it has many aspects lying inside it.
1 - Making a series of HH and HL. 2 - Formed a Motherbar Inside bar @ D1. 3 - In confluence with. Quarter Pivot Yearly and Quarter Resistance 5 DAY ADR 4 - Formed A Support Trend Line.
Break above 127 Extension may form a Bullish Momentum. Break below 127 Extension may form a Bearish Momentum.
According to the Analysis, The pair is expected to find support at 1.61709, and a fall through could take it to the next support level of 1.61406. The pair is expected to find its first resistance at 1.62347, and a rise through could take it to the next resistance level of 1.62682.
EUR AUD Previous Day range was 63.8 and Current Day Range is 61.3.
Fundamental Overview
Market is Over Extended 1 - We may see a Weakness in GBP as 3 of its High Impact news are not in a positive zone. 2 - Westpac Now Forecasts 3 RBA Interest-Rate Cuts in 2019. 3 - It confirmed that market is in a state of Risk Aversion/Risk Off.
The GBP traded higher against the USD and closed at 1.2711.
1) The pair closed in its weekly value areas. 2) A bullish sentiment after test of the VPOC may take the market upwards to the VPOC of last week and last 5th week. 3) Pair is in between its 5 DAY ADR levels. 4) Pair is continuously making high volume candles. 5) Breakout zones are drawn on chart.
According to the Analysis, The pair is expected to find support at 1.26608, and a fall through could take it to the next support level of 1.26110. The pair is expected to find its first resistance at 1.27464, and a rise through could take it to the next resistance level of 1.27822.
GBP USD Previous Day range was 85.6 and Current Day Range is 29.6.
Fundamental Overview
1 - GBP/USD - Boosted Slightly After PM May Resigns. 2 - GBP: Time To Start Trimming Shorts, adding long GBPCHF.
For Detailed Technical Analysis Visit XtramForex YouTube Channel.
Technical Overview of USD/JPY and EUR/AUD Currency Pair
USD JPY
The USD traded lower against the JPY and closed at 109.483.
1) Pair stalls between the quarter and year pivot. 2) Keep in mind that market is in RISK AVERSION. 3) Breakout of 127 extension may lead the pair to a short trend.
According to the Analysis, The pair is expected to find support at 109.314, and a fall through could take it to the next support level of 109.144. The pair is expected to find its first resistance at 109.618, and a rise through could take it to the next resistance level of 109.752.
USD JPY Previous Day range was 3040 and Current Day Range is 2010.
EUR AUD
The EUR traded lower against the AUD and closed at 1.6176.
1) PIVOT support line broken. 2) Market is below the golden cross EMA. 3) 127 Extensions level may decide the move direction.
According to the Analysis, The pair is expected to find support at 1.61570, and a fall through could take it to the next support level of 1.61376. The pair is expected to find its first resistance at 1.61917, and a rise through could take it to the next resistance level of 1.62070. EUR AUD Previous Day range was 34.7 and Current Day Range is 47.
Comments
USD JPY
The USD traded lower against the JPY and closed at 111.761.
Gross Domestic Product (GDP) q/q reflects the monetary value of all goods and services produced in Japan during a given quarter compared to the previous one. The calculation takes into account private consumption, government spending, the costs of all enterprises and net exports of the country.
GDP growth can have a positive effect on yen quotes.
According to the Analysis, The pair is expected to find support at 111.613, and a fall through could take it to the next support level of 111.464. The pair is expected to find its first resistance at 111.913, and a rise through could take it to the next resistance level of 112.064.
Previous Day range was 3000 and Current Day Range is 1890.
EUR USD
The EUR traded higher against the USD and closed at 1.1306.
ECB Interest Rate Decision is announced after the European Central Bank meetings, on which the monetary policy of the euro zone is discussed. The interest rate decisions are taken depending on the inflationary outlook and economic growth.
Cut in deposit rates may have a negative effect on EUR quotes.
Gross Domestic Product q/q reflects the changes in the total value of all goods and services produced in the euro area in the current quarter compared to the previous one. The calculation excludes the price of goods and services used in the intermediate manufacturing. The data are seasonally adjusted.
GDP allows evaluating the rate of the economic growth and living standard of the population.
The growth of the indicator value can have a positive effect on euro quotes.
The pair is expected to find support at 1.12876, and a fall through could take it to the next support level of 1.12693. The pair is expected to find its first resistance at 1.13243, and a rise through could take it to the next resistance level of 1.13427.
EUR USD previous Day range was 36.7 and Current Day Range is 12.6.
GBP USD
The GBP traded little higher against USD and closed at 1.3168.
Initial Jobless Claims show the number of people filing to receive unemployment insurance benefits for the first time over the past week.
The indicator is used to assess the state of the labor market. Since the weekly flow of data causes high volatility, the four-week average values are used most often for interpretation.
The indicator growth can have a negative effect on US dollar quotes.
According to the analysis, pair is expected to find support at 1.31339, and a fall through could take it to the next support level of 1.31002. The pair is expected to find its first resistance at 1.31900, and a rise through could take it to the next resistance level of 1.32124.
GBP USD previous day range was 56.1 and current day range is 16.6.
USD CHF
The USD traded lower against the CHF and closed at 1.0113.
According to the Analysis, The pair is expected to find support at 1.00578, and a fall through could take it to the next support level of 1.00023. The pair is expected to find its first resistance at 1.01464, and a rise through could take it to the next resistance level of 1.01795.
Previous Day range was 88.6 and Current Day Range is 14.1.
NZD USD
The NZD traded higher against the USD and closed at 0.6751.
The pair is expected to find support at 0.67335, and a fall through could take it to the next support level of 0.67157. The pair is expected to find its first resistance at 0.67804, and a rise through could take it to the next resistance level of 0.68095.
NZD USD previous Day range was 46.9 and Current Day Range is 23.7.
AUD USD
The AUD traded little lower against USD and closed at 0.7015.
According to the analysis, pair is expected to find support at 0.69963, and a fall through could take it to the next support level of 0.69973. The pair is expected to find its first resistance at 0.70428, and a rise through could take it to the next resistance level of 0.70703.
AUD USD previous day range was 46.5 and current day range is 22.2.
EUR USD
The EUR traded lower against the USD and closed at 1.1234.
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, The pair is expected to find support at 1.11975, and a fall through could take it to the next support level of 1.11613. The pair is expected to find its first resistance at 1.12577, and a rise through could take it to the next resistance level of 1.12817.
Previous Day range was 60.2 and Current Day Range is 14.
NZD USD
The NZD traded lower against the USD and closed at 0.6804.
Electronic Card Retail Sales m/m reflect a percentage change in electronic card transactions over the reported month compared to the previous one. The indicator can be used in the estimation of consumer spendings and economic activity.
The indicator values are seasonally adjusted and can be revised on a monthly basis, while monthly movements can fluctuate.
The pair is expected to find support at 0.67648, and a fall through could take it to the next support level of 0.67251. The pair is expected to find its first resistance at 0.68272, and a rise through could take it to the next resistance level of 0.68499.
NZD USD previous Day range was 62.4 and Current Day Range is 19.8.
USD JPY
The USD traded little lower against JPY and closed at 111.168.
According to the analysis, pair is expected to find support at 110.761, and a fall through could take it to the next support level of 110.353. The pair is expected to find its first resistance at 111.612, and a rise through could take it to the next resistance level of 112.055.
USD JPY previous day range was 8510 and current day range is 2750.
GBP USD
The GBP traded higher against the USD and closed at 1.3149.
• GBP/USD struggles to hold recent strength as it trades near 1.3220 ahead of London open on Tuesday.
• The pair rose to 1.3290 during early-day increase after Brexit optimists welcomed the meeting between the UK PM Theresa May and the EU Commission Chief Jean-Claude Juncker.
The UK Parliament will decide whether the UK PM May's Brexit Plan is valid or not. In the case the Parliament don't approve it, chances of a hard Brexit will increase exponentially.
Nothing is more important this week than the Brexit votes on Tuesday, Wednesday and possibly also Thursday. There's no exact time for the vote but it will be after the debates, which usually end evening time in the UK. That puts a vote somewhere after 18/19 GMT or 2pm/3pm NY time. It could be even later but it shouldn't be earlier than 18 GMT. This week's vote will determine 3 things -
1. Will the UK accept the EU's withdrawal agreement
2. Will the UK rule out leaving with no deal
3. Will Article 50 be extended?
According to the Analysis, The pair is expected to find support at 1.30160, and a fall through could take it to the next support level of 1.28829. The pair is expected to find its first resistance at 1.32251, and a rise through could take it to the next resistance level of 1.33011.
Previous Day range was 209.1 and Current Day Range is 139.3.
AUD USD
The AUD traded higher against the USD and closed at 0.7068.
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.
The pair is expected to find support at 0.70375, and a fall through could take it to the next support level of 0.70069. The pair is expected to find its first resistance at 0.70876, and a rise through could take it to the next resistance level of 0.71071.
AUD USD previous Day range was 50.1 and Current Day Range is 22.8.
USD CHF
The USD traded little higher against CHF and closed at 1.0105.
According to the analysis, pair is expected to find support at 1.00768, and a fall through could take it to the next support level of 1.00483. The pair is expected to find its first resistance at 1.01266, and a rise through could take it to the next resistance level of 1.01479.
USD CHF previous day range was 49.8 and current day range is 14.
GBP USD
The GBP traded higher against the USD and closed at 1.3068.
Overnight, it was another loss for UK Prime Minister May which now means lawmakers are likely to push for a delay to the 29 March deadline. However, 149-vote loss sets the bar seriously high for Theresa May to turn the tables around.
Spring Forecast Statement is a statement made annually by HM Treasury to Parliament upon publication of economic forecasts.
The statement features analysis of the economic situation in the UK and in the world, describes economic outlooks and provides previews of the government budget for the next year.
The event has a short-term impact on financial markets depending on the HM Treasury rhetoric. Positive outlooks have a positive impact on the pound sterling.
According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.29535, and a fall through could take it to the next support level of 1.28386. The pair is expected to find its first resistance at 1.32341, and a rise through could take it to the next resistance level of 1.33998.
Previous Day range was 280.6 and Current Day Range is 30.6.
EUR USD
The EUR traded lower against the USD and closed at 1.1287.
The Nondefense Capital Goods Orders Excluding Aircraft, released by the US Census Bureau, measures the cost of orders received by manufacturers for capital goods (capital goods are durable goods used in the production of goods or services), which means goods planned to last for three years or more, excluding the defense and aircraft sectors. As those durable products often involve large investments they are sensitive to the US economic situation. Generally speaking, a high reading is bullish for the USD, while a low reading is seen as Bearish.
The pair is expected to find support at 1.12530, and a fall through could take it to the next support level of 1.12185. The pair is expected to find its first resistance at 1.13133, and a rise through could take it to the next resistance level of 1.13391.
EUR USD previous Day range was 60.3 and Current Day Range is 6.8.
USD CAD
The USD traded little higher against CAD and closed at 1.3353.
Core Durable Goods Orders m/m reflect the value of orders received by manufacturers of durable goods in the given month compared to the previous one. The production of transport industry is excluded from the calculation.
The index allows forecasting future production volumes in the short term.
The value growth can have a positive effect on dollar quotes.
According to the analysis, pair is expected to find support at 1.33307, and a fall through could take it to the next support level of 1.33089. The pair is expected to find its first resistance at 1.33957, and a rise through could take it to the next resistance level of 1.34389.
USD CAD previous day range was 65 and current day range is 21.1.
EUR USD
The EUR traded higher against the USD and closed at 1.1324.
According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.12993, and a fall through could take it to the next support level of 1.12750. The pair is expected to find its first resistance at 1.13460, and a rise through could take it to the next resistance level of 1.13684.
Previous Day range was 46.7 and Current Day Range is 18.8.
USD CAD
The USD traded lower against the CAD and closed at 1.3341.
The pair is expected to find support at 1.32963, and a fall through could take it to the next support level of 1.32517. The pair is expected to find its first resistance at 1.33782, and a rise through could take it to the next resistance level of 1.34155.
USD CAD previous Day range was 81.9 and Current Day Range is 30.2.
AUD USD
The AUD traded higher against USD and closed at 0.7085.
According to the analysis, pair is expected to find support at 0.70652, and a fall through could take it to the next support level of 0.70456. The pair is expected to find its first resistance at 0.71007, and a rise through could take it to the next resistance level of 0.71166.
AUD USD previous day range was 35.5 and current day range is 36.8.
EUR USD
The EUR traded lower against the USD and closed at 1.1300.
The Ifo Business Climate Index reflects the current economic situation and forecasts for the next six months from the point of view of German companies. The indicator is compiled based on a survey of more than seven thousand companies. A higher than expected reading is seen as favorable for the euro quotes, while lower readings are seen as negative.
The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. As part of his job in the Governing Council he gives press conferences in the back of how the ECB observes the current European economy. President's comments may determine positive or negative the Euro's trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).
According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.12532, and a fall through could take it to the next support level of 1.12062. The pair is expected to find its first resistance at 1.13687, and a rise through could take it to the next resistance level of 1.14372.
Previous Day range was 31.9 and Current Day Range is 15.
NZD USD
The NZD traded higher against the USD and closed at 0.6877.
RBNZ Interest Rate Decision is announced by the Reserve Bank of New Zealand. If the RBNZ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the NZD.
The pair is expected to find support at 0.68623, and a fall through could take it to the next support level of 0.68478. The pair is expected to find its first resistance at 0.68942, and a rise through could take it to the next resistance level of 0.69116.
NZD USD previous Day range was 31.9 and Current Day Range is 15.
USD CHF
The USD traded higher against CHF and closed at 0.9934.
According to the analysis, pair is expected to find support at 0.99079, and a fall through could take it to the next support level of 0.98817. The pair is expected to find its first resistance at 0.99652, and a rise through could take it to the next resistance level of 0.99963.
USD CHF previous day range was 57.3 and current day range is 13.1.
NZD USD
The NZD traded lower against the USD and closed at 0.6906.
The RBNZ Rate Statement contains the explanations of the decision on interest rates and commentary about the economic conditions that influenced it.
RBNZ Interest Rate Decision is announced by the Reserve Bank of New Zealand. If the RBNZ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the NZD.
According to the Analysis, Four hour chart shows that the pair is expected to find support at 0.68921, and a fall through could take it to the next support level of 0.68781. The pair is expected to find its first resistance at 0.69222, and a rise through could take it to the next resistance level of 0.69383.
Previous Day range was 30.1 and Current Day Range is 118.1.
GBP USD
The GBP traded lower against the USD and closed at 1.3201.
The UK Parliament will decide whether the UK PM May's Brexit Plan is valid or not. In the case the Parliament don't approve it, chances of a hard Brexit will increase exponentially.
The pair is expected to find support at 1.31526, and a fall through could take it to the next support level of 1.31042. The pair is expected to find its first resistance at 1.32544, and a rise through could take it to the next resistance level of 1.33078.
GBP USD previous Day range was 101.8 and Current Day Range is 37.1.
EUR USD
The EUR traded lower against USD and closed at 1.1265.
The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. As part of his job in the Governing Council he gives press conferences in the back of how the ECB observes the current European economy. President's comments may determine positive or negative the Euro's trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).
According to the analysis, pair is expected to find support at 1.12439, and a fall through could take it to the next support level of 1.12224. The pair is expected to find its first resistance at 1.13062, and a rise through could take it to the next resistance level of 1.13470.
EUR USD previous day range was 62.3 and current day range is 25.2.
USD JPY
The USD traded lower against the JPY and closed at 110.507.
The Tokyo Consumer Price Index released by the Statistics Bureau is a measure of price movements obtained by comparison of the retail prices of a representative shopping basket of goods and services, excluding fresh food. The index captures inflation in Tokyo. The purchase power of JPY is dragged down by inflation. Generally a high reading is seen as positive for the JPY.
According to the Analysis, Four hour chart shows that the pair is expected to find support at 110.260, and a fall through could take it to the next support level of 110.014. The pair is expected to find its first resistance at 110.730, and a rise through could take it to the next resistance level of 110.954.
Previous Day range was 4700 and Current Day Range is 4110.
USD CAD
The USD traded lower against the CAD and closed at 1.3408.
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.
The pair is expected to find support at 1.33769, and a fall through could take it to the next support level of 1.33456. The pair is expected to find its first resistance at 1.34395, and a rise through could take it to the next resistance level of 1.34708.
USD CAD previous Day range was 62.6 and Current Day Range is 22.1.
AUD USD
The AUD traded higher against USD and closed at 0.7083.
According to the analysis, pair is expected to find support at 0.70535, and a fall through could take it to the next support level of 0.70244. The pair is expected to find its first resistance at 0.71265, and a rise through could take it to the next resistance level of 0.71704.
AUD USD previous day range was 73 and current day range is 25.9.
EUR USD
The EUR traded higher against the USD and closed at 1.1218.
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).
According to the Analysis, The pair is expected to find support at 1.12030, and a fall through could take it to the next support level of 1.11883. The pair is expected to find its first resistance at 1.12392, and a rise through could take it to the next resistance level of 1.12607.
Previous Day range was 36.2 and Current Day Range is 13.3.
USD CAD
The USD traded higher against the CAD and closed at 1.3352.
The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).
The pair is expected to find support at 1.33149, and a fall through could take it to the next support level of 1.32777. The pair is expected to find its first resistance at 1.34157, and a rise through could take it to the next resistance level of 1.34793.
USD CAD previous Day range was 100.8 and Current Day Range is 15.2.
GBP USD
The GBP traded higher against USD and closed at 1.3027.
The UK Parliament will decide whether the UK PM May's Brexit Plan is valid or not. In the case the Parliament don't approve it, chances of a hard Brexit will increase exponentially.
According to the analysis, pair is expected to find support at 1.29584, and a fall through could take it to the next support level of 1.28898. The pair is expected to find its first resistance at 1.31142, and a rise through could take it to the next resistance level of 1.32014.
GBP USD previous day range was 155.8 and current day range is 31.2.
Oil ignores the bearish API inventory report released day before yesterday and hit five-month highs a few minutes before press time.
OPEC's output hit a four-year low in March. The Energy Information Administration is expected to show the US oil inventories dropped last week.
US crude oil inventories unexpectedly rose by 3 million barrels last week, the American Petroleum Institute said on Tuesday. Oil prices, however, have shrugged off the bearish inventory report, and continue to cheer the OPEC-led supply cuts.
According to the analysis, USOil.x pair is expected to find support at 61.91, and a fall through could take it to the next support level of 61.21. The pair is expected to find its first resistance at 63.02, and a rise through could take it to the next resistance level of 63.43.
USOil.x previous day range was 11100 and current day range is 4300.
The Energy Information Administration (EIA) data due later today is expected to show the US crude inventories dropped 100,000 barrels last week. A bigger drawdown could end up pushing WTI higher to $63.59 (resistance of the June 2018 low as per the weekly chart).
EUR USD
The EUR traded higher against the USD and closed at 1.122.
Nonfarm Payrolls present the number of new jobs created during the given month, in all non-agricultural sectors of the U.S.
The indicator growth can have a positive effect on dollar quotes.
According to the Analysis, The pair is expected to find support at 1.12015, and a fall through could take it to the next support level of 1.11832. The pair is expected to find its first resistance at 1.12427, and a rise through could take it to the next resistance level of 1.12656.
Previous Day range was 41.2 and Current Day Range is 11.6.
NZD USD
The NZD traded higher against the USD and closed at 0.6752.
The Average Hourly Earnings released by the US Department of Labor is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.
The pair is expected to find support at 0.67336, and a fall through could take it to the next support level of 0.67150. The pair is expected to find its first resistance at 0.67850, and a rise through could take it to the next resistance level of 0.68178.
NZD USD previous Day range was 51.4 and Current Day Range is 15.1.
GBP USD
The GBP traded higher against USD and closed at 1.3071.
According to the analysis, pair is expected to find support at 1.30236, and a fall through could take it to the next support level of 1.29759. The pair is expected to find its first resistance at 1.31539, and a rise through could take it to the next resistance level of 1.32365.
GBP USD previous day range was 130.3 and current day range is 23.5.
USD JPY
The USD traded lower against the JPY and closed at 111.709.
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, The pair is expected to find support at 111.594, and a fall through could take it to the next support level of 111.479. The pair is expected to find its first resistance at 111.820, and a rise through could take it to the next resistance level of 111.931.
Previous Day range was 2260 and Current Day Range is 3820.
EUR USD
The EUR traded higher against the USD and closed at 1.1216.
The pair is expected to find support at 1.12035, and a fall through could take it to the next support level of 1.11908. The pair is expected to find its first resistance at 1.12355, and a rise through could take it to the next resistance level of 1.12548.
EUR USD previous Day range was 32 and Current Day Range is 21.3.
AUD USD
The AUD traded lower against USD and closed at 0.7106.
According to the analysis, pair is expected to find support at 0.70880, and a fall through could take it to the next support level of 0.70704. The pair is expected to find its first resistance at 0.71274, and a rise through could take it to the next resistance level of 0.71492.
AUD USD previous day range was 39.4 and current day range is 21.1.
GBP USD
The GBP traded higher against the USD and closed at 1.3048.
The European Council is set to meet in Brussels to discuss Brexit one day ahead of the deadline, trying to come to an agreement on an extension or the UK withdrawal from the EU. This meeting involves the Heads of State and Government of European Union member states.
The Consumer Price Index (CPI) Ex Food & Energy released by the US Department of Labor Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. Those volatile products such as food and energy are excluded in order to capture an accurate calculation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).
According to the Analysis, The pair is expected to find support at 1.30122, and a fall through could take it to the next support level of 1.29763. The pair is expected to find its first resistance at 1.31008, and a rise through could take it to the next resistance level of 1.31535.
Previous Day range was 88.6 and Current Day Range is 19.2.
NZD USD
The NZD traded higher against the USD and closed at 0.674.
The Consumer Price Index (CPI) Ex Food & Energy released by the US Department of Labor Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. Those volatile products such as food and energy are excluded in order to capture an accurate calculation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).
The pair is expected to find support at 0.67315, and a fall through could take it to the next support level of 0.67232. The pair is expected to find its first resistance at 0.67531, and a rise through could take it to the next resistance level of 0.67664.
NZD USD previous Day range was 21.6 and Current Day Range is 14.6.
AUD USD
The AUD traded higher against USD and closed at 0.7121.
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 0.71092, and a fall through could take it to the next support level of 0.70973. The pair is expected to find its first resistance at 0.71425, and a rise through could take it to the next resistance level of 0.71639.
AUD USD previous day range was 33.3 and current day range is 33.1.
GBP/USD and AUD/USD Currency Pairs
EUR USD
The EUR traded higher against the USD and closed at 1.1298.
The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).
According to the Analysis, The pair is expected to find support at 1.12584, and a fall through could take it to the next support level of 1.12189. The pair is expected to find its first resistance at 1.13304, and a rise through could take it to the next resistance level of 1.13629.
Previous Day range was 72 and Current Day Range is 15.
GBP USD
The GBP traded higher against the USD and closed at 1.3071.
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).
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 pair is expected to find support at 1.30368, and a fall through could take it to the next support level of 1.30023. The pair is expected to find its first resistance at 1.31180, and a rise through could take it to the next resistance level of 1.31647.
GBP USD previous Day range was 81.2 and Current Day Range is 32.2.
AUD USD
The AUD traded higher against USD and closed at 0.7171.
The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.
According to the analysis, pair is expected to find support at 0.71273, and a fall through could take it to the next support level of 0.70835. The pair is expected to find its first resistance at 0.72035, and a rise through could take it to the next resistance level of 0.72359.
AUD USD previous day range was 76.2 and current day range is 15.9.
USD/JPY and USD/CHF Currency Pairs
NZD USD
The NZD traded lower against the USD and closed at 0.6762.
Consumer Price Index released by the Statistics New Zealand 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 NZD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative.
According to the Analysis, The pair is expected to find support at 0.67471, and a fall through could take it to the next support level of 0.67326. The pair is expected to find its first resistance at 0.67794, and a rise through could take it to the next resistance level of 0.67972.
Previous Day range was 32.3 and Current Day Range is 27.5.
USD JPY
The USD traded lower against the JPY and closed at 112.033.
Eric Rosengren has been President and CEO of the Federal Reserve Bank of Boston since July 2007. Previously he headed the Bank’s supervision, regulation, and credit group, and was active in domestic and international regulatory policy.
Tertiary Industry Index released by the Ministry of Economy, Trade and Industry indicates the domestic service sector in Japan such as information and communication, electricity, gas heat and water, services, transport, wholesale and retail trade, finance and insurance ,and welfare. As the Japanese economy relies upon its exports, this event is expected to generate low volatility for the JPY. Generally, a high reading is positive (or bullish) for the JPY, while a low reading is negative (or bearish).
The pair is expected to find support at 111.918, and a fall through could take it to the next support level of 111.803. The pair is expected to find its first resistance at 112.120, and a rise through could take it to the next resistance level of 112.207.
USD JPY previous Day range was 2020 and Current Day Range is 1520.
USD CHF
The USD traded lower against CHF and closed at 1.0039.
According to the analysis, pair is expected to find support at 1.00169, and a fall through could take it to the next support level of 0.99944. The pair is expected to find its first resistance at 1.00539, and a rise through could take it to the next resistance level of 1.00684.
USD CHF previous day range was 37 and current day range is 14.3.
USD CAD
The USD traded lower against the CAD and closed at 1.335.
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, The pair is expected to find support at 1.33294, and a fall through could take it to the next support level of 1.33094. The pair is expected to find its first resistance at 1.33861, and a rise through could take it to the next resistance level of 1.34228.
Previous Day range was 56.7 and Current Day Range is 44.2.
GBP USD
The GBP traded higher against the USD and closed at 1.3043.
Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.
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).
The pair is expected to find support at 1.30231, and a fall through could take it to the next support level of 1.30031. The pair is expected to find its first resistance at 1.30812, and a rise through could take it to the next resistance level of 1.31193.
GBP USD previous Day range was 58.1 and Current Day Range is 34.7.
USD JPY
The USD traded lower against JPY and closed at 112.012.
James Bullard is the President of the Federal Reserve Bank of St. Louis. Dr. Bullard took office on April 1, 2008, as the twelfth chief executive of the Eighth District Federal Reserve Bank, at St. Louis. He is currently serving a full term that began March 1, 2011. In 2013, he serves as a voting member of the Federal Open Market Committee.
According to the analysis, pair is expected to find support at 111.892, and a fall through could take it to the next support level of 111.772. The pair is expected to find its first resistance at 112.087, and a rise through could take it to the next resistance level of 112.162.
USD JPY previous day range was 1950 and current day range is 2410.
CHF JPY
The CHF traded lower against the JPY and closed at 109.923.
CHFJPY has formed a MB/IB on D1. It is in confluence with Yearly and Quarter Pivot.
Keep in mind that both the currencies may share equal strength in short term due to weakness in USD( Yet to come).
According to the Analysis, The pair is expected to find support at 109.592, and a fall through could take it to the next support level of 109.261. The pair is expected to find its first resistance at 110.127, and a rise through could take it to the next resistance level of 110.331.
Previous Day range was 5350 and Current Day Range is 3170.
USD CHF
The USD traded higher against the CHF and closed at 1.0200.
The pair has already stretched above 2618 %. Now it has formed MB/IB and is in confluence with the Quarter/Year Pivot Levels. A breakout towards up or down may eventually change the trend.
The pair is expected to find support at 1.01727, and a fall through could take it to the next support level of 1.01453. The pair is expected to find its first resistance at 1.02234, and a rise through could take it to the next resistance level of 1.02467.
USD CHF previous Day range was 50.7 and Current Day Range is 16.5.
EUR USD
The EUR traded higher against USD and closed at 1.1154.
The Pair formed a No Demand No Supply. VPOC level, 61% retracement & Quarter Pivot is in confluence at the market zone. A retracement may lead to further selling or alternatively it may make a new Impulse leg.
According to the analysis, pair is expected to find support at 1.11210, and a fall through could take it to the next support level of 1.10882. The pair is expected to find its first resistance at 1.12063, and a rise through could take it to the next resistance level of 1.12588.
EUR USD previous day range was 85.3 and current day range is 15.5.
USD/CHF, EUR/GBP and USD/JPY Currency Pairs
USD CAD
The USD traded lower against the CAD and closed at 1.3485.
The pair stalls at the Quarter Pivot and Monthly Pivot. It also made a Bullish Climax at the Resistance Level. Keep in mind that Pair had also completed Bullish AB=CD Pattern.
According to the Analysis, The pair is expected to find support at 1.34719, and a fall through could take it to the next support level of 1.34591. The pair is expected to find its first resistance at 1.35070, and a rise through could take it to the next resistance level of 1.35293.
Previous Day range was 35.1 and Current Day Range is 18.2.
USD CHF
The USD traded lower against the CHF and closed at 1.0202.
The pair stalls at the Quarter Pivot and Monthly Pivot. It’s in a Mother bar In side bar Formation
The daily Moving Average presents a Bullish Momentum( after the resistances are broken)
Or else there shall be a successful close below the daily Moving Average to go further down.
The pair is expected to find support at 1.01873, and a fall through could take it to the next support level of 1.01728. The pair is expected to find its first resistance at 1.02219, and a rise through could take it to the next resistance level of 1.02420.
USD CHF previous Day range was 34.6 and Current Day Range is 9.9.
EUR GBP
The EUR traded higher against GBP and closed at 0.8628.
The pair stalls at the Quarter Pivot and Monthly Pivot. It also made a Double Top,
Iy closed below the D1 Moving Average. As we know the weakness in EURO is present so, this pair can follow the Classic Double Top Pattern.
According to the analysis, pair is expected to find support at 0.86182, and a fall through could take it to the next support level of 0.86080. The pair is expected to find its first resistance at 0.86462, and a rise through could take it to the next resistance level of 0.86640.
EUR GBP previous day range was 28 and current day range is 8.9.
USD JPY
The USD traded higher against JPY and closed at 111.603.
The pair stalls at the Quarter Pivot and Monthly Pivot. It’s in a range now. But pair started to move. Best option is to wait for pivot breakouts...
According to the analysis, pair is expected to find support at 111.235, and a fall through could take it to the next support level of 110.866. The pair is expected to find its first resistance at 112.105, and a rise through could take it to the next resistance level of 112.606.
USD JPY previous day range was 8700 and current day range is 3360.
GBP/USD and GBP/CHF Currency Pairs
USD JPY
The USD traded lower against the JPY and closed at 111.641.
USDJPY formed series of HH and HL then now over night it made LL
A series of H & LL is start of a new downtrend
The Support from D1 trend line has also broken and has been tested also
Scenario 1: In order to Go Bullish it needs to Break the Yearly Resistance 112.075
Scenario 2: In order to be bearish it needs to push through the Quarterly 111.49
According to the Analysis, The pair is expected to find support at 111.488, and a fall through could take it to the next support level of 111.334. The pair is expected to find its first resistance at 111.846, and a rise through could take it to the next resistance level of 112.050.
Previous Day range was 3580 and Current Day Range is 1340.
GBP USD
The GBP traded higher against the USD and closed at 1.2932.
GBPUSD RESPECTING the resistance from D1 resistance trend line.
Now the pair stalls on the Quarterly Pivots Level
As it can be seen that the pair made a series of LH and LL so a down trend is expected.
Alternatively a bullish trend may start after the Daily Trend Line Resistance is broken...
The pair is expected to find support at 1.29087, and a fall through could take it to the next support level of 1.28858. The pair is expected to find its first resistance at 1.29506, and a rise through could take it to the next resistance level of 1.29696.
GBP USD previous Day range was 41.9 and Current Day Range is 23.4.
GBP CHF
The GBP traded higher against CHF and closed at 1.3186.
GBPCHF broke the daily support trend line.
The pair stalls @ Quarterly and yearly Pivot As marked. If the pair breaks the 127 extension then it may bre bullish or else in the alternate scenario if the price breaks the low of Daily support then a DOUBLE TOP may have to form.
According to the analysis, pair is expected to find support at 1.31600, and a fall through could take it to the next support level of 1.31346. The pair is expected to find its first resistance at 1.32064, and a rise through could take it to the next resistance level of 1.32274.
GBP CHF previous day range was 46.4 and current day range is 23.2.
NZD/USD and GBP/CHF Currency Pairs
EUR CHF
The EUR traded higher against the CHF and closed at 1.1392.
1- Mother bar @ Middle Quarter Resistance 2
2-The top is the 786 Level retracement
3- The D1 Trend line has also broken. Indicating a Bearish Movement
Scenario 1: If there is a bearish breakout of Mother bar followed by a test with low volume then we may see an AB= CD pattern, With D point in confluence with the Middle Quarter Resistance 1.
Scenario 2: If there is a bullish breakout above the yearly Pivot with a low volume retest then we may see a new Impulse leg which then extend or make a Double Top.
According to the Analysis, The pair is expected to find support at 1.13750, and a fall through could take it to the next support level of 1.13577. The pair is expected to find its first resistance at 1.14244, and a rise through could take it to the next resistance level of 1.14565.
Previous Day range was 49.4 and Current Day Range is 23.9.
NZD USD
The NZD traded higher against the USD and closed at 0.662.
1- H4 Mother bar @MSup1Q1
2-The 61% Level retracement
Scenario 1: If there is a bearish breakout of Mother bar followed by a test with low volume then we may see an AB= CD pattern, With D point in confluence with the Msup1Y1 & Msup1Q1
Scenario 2: If there is a bullish breakout above the yearly Pivot with a low volume retest then we may see a new Impulse leg which then extend or make a Double Top.
The pair is expected to find support at 0.65978, and a fall through could take it to the next support level of 0.65754. The pair is expected to find its first resistance at 0.66608, and a rise through could take it to the next resistance level of 0.67014.
NZD USD previous Day range was 63 and Current Day Range is 27.5.
GBP CHF
The GBP traded higher against CHF and closed at 1.3278.
1- An Effort candle followed by climax candle.
2- Formed candles @ the previous month resistance
3- Followed by no demand no supply
4- Followed by vpoc with low volume
Scenario1: If the pair retraces to the no demand no supply area with low volume then we may see a downward movement.
Scenario 2: If we see a bullish breakout then we will need further conformations to go long.
According to the analysis, pair is expected to find support at 1.32556, and a fall through could take it to the next support level of 1.32332. The pair is expected to find its first resistance at 1.33018, and a rise through could take it to the next resistance level of 1.33256.
GBP CHF previous day range was 46.2 and current day range is 50.1.
GBP JPY
The GBP traded higher against the JPY and closed at 146.344.
GBPJPY @ a very strong resistance
Reasons
1- The Long Blue candle Represents Climax candle (indicating that smart money may be interested in selling).
2- Abcd formed @ 127Extension.
3- 127 level in confluence with trendline of Pivot Candles.
4- Price approaching the Middle Resistance 1 of 1st Quarter.
5- RSI H4 & D1 Already in Over Bought level.
6- High of Previous Daily & Weekly Candle also Broken.
So Scenarios
If we see A Low Volume Test (two bullish candles followed by a bearish one with low volume then we can expect selling).
If we break above the 161 Level with 2 bearish candles followed by 1 bullish low volume candle may resume uptrend.
According to the Analysis, The pair is expected to find support at 145.254, and a fall through could take it to the next support level of 144.164. The pair is expected to find its first resistance at 146.951, and a rise through could take it to the next resistance level of 147.558.
GBP JPY Previous Day range was 16970 and Current Day Range is 9510.
AUD NZD
The AUD traded higher against the NZD and closed at 1.0572.
The Pair Formed
1- Mother bar in side bar @ the Quarterly Resistance, Previous Month Resistance and Monthly Pivot Levels. It’s in a range for now.
2- 55 and 21 Period Moving average has a downward slope.
3- Pair has made a series of LH and LL and the Trendline from the PIVOT CANDLES has been formed.
Scenarios
1- A break below the Low of Mother bar may continue the trend.
Or
2- A break above the Mother bar High may have a change in bias towards the up side.
The pair is expected to find support at 1.05557, and a fall through could take it to the next support level of 1.05396. The pair is expected to find its first resistance at 1.05833, and a rise through could take it to the next resistance level of 1.05948.
AUD NZD previous Day range was 27.6 and Current Day Range is 32.4.
AUD CHF
The AUD traded lower against the CHF and closed at 0.7128.
It’s an interesting pair; let’s see what it has for us today. The same Directions apply to almost all of the AUD pairs.
1-It formed A daily Motherboard Inside bar
2- It’s in confluence with Yearly Pivots
3- It’s in confluence with Quarter Pivots
4- It’s in confluence with Month Pivots
5- The Pair has been making a series of LL and LH.
6- The Pivotal Trend line has broken to the upside.
7- The Trendline has been Tested
Scenario 1-If we get a break above the 0.7160 -0.7175 Zone of Year/Quarter & Month Pivot then we may Expect to move UP
Scenario 2- If we break the lows of Mother bar Inside bar then we may go Down
According to the Analysis, The pair is expected to find support at 0.71082, and a fall through could take it to the next support level of 0.70884. The pair is expected to find its first resistance at 0.71540, and a rise through could take it to the next resistance level of 0.71800.
AUD CHF Previous Day range was 45.8 and Current Day Range is 26.7.
EUR AUD
The EUR traded higher against the AUD and closed at 1.6011.
Pair has formed
1 - It formed a daily Mother bar Inside bar.
2 - It’s in confluence with Yearly Pivots.
3 - It’s in confluence with Quarter Pivots.
4 - Range of Quarter and Year Pivots.
5 - The Pair has been making a series of HH and HL.
6 - Break Above or below the 127 Extension may lead pair to the short term trend.
According to the Analysis, The pair is expected to find support at 1.59644, and a fall through could take it to the next support level of 1.59184. The pair is expected to find its first resistance at 1.60376, and a rise through could take it to the next resistance level of 1.60648.
EUR AUD Previous Day range was 73.2 and Current Day Range is 62.
EUR NZD
The EUR traded higher against the NZD and closed at 1.7028.
The pair formed a Motherbar Insidebar
The pair is stalling @ yearly Pivots
The yearly Pivots is same as Previous Quarter Pivot
The pair is stalling @ Resistance Quarter
The Pair is forming Series of HH and HL
Scenario
1- A break above the Yearly pivot Followed by a Low-Volume Test may from a bullish Trend
2- A break below MResQ1 may lead the pair downward
According to the Analysis, The pair is expected to find support at 1.69899, and a fall through could take it to the next support level of 1.69516. The pair is expected to find its first resistance at 1.70580, and a rise through could take it to the next resistance level of 1.70878.
EUR NZD Previous Day range was 68.1 and Current Day Range is 79.8.
GBP CHF
The GBP traded higher against the CHF and closed at 1.315.
The pair formed a Motherbar Insidebar.
The pair is stalling @ Res1 yearly Pivots.
The pair is stalling @ Resistance1 Quarter.
The Pair is forming Series of HH and HL.
Scenario
1- A break above the Yearly Res1 Followed by a Low-Volume Test may from a BEARISH Trend.
2- A break above MResQ1 may lead the pair UP.
According to the Analysis, The pair is expected to find support at 1.31221, and a fall through could take it to the next support level of 1.30944. The pair is expected to find its first resistance at 1.31987, and a rise through could take it to the next resistance level of 1.32476.
GBP CHF Previous Day range was 76.6 and Current Day Range is 45.8.
NZD CAD
The NZD traded lower against the CAD and closed at 0.8853.
The pair formed a Motherbar Insidebar.
The pair is stalling @ Res1 yearly Pivots.
The pair is stalling @ support 1 Quarter.
The Pair is forming Series of LH and LL.
Scenario
1- A break above the Yearly Res1 Followed by a Low-Volume Test may from a BEARISH Trend.
2- A break above high of Motherbar then may lead the pair UP.
According to the Analysis, The pair is expected to find support at 0.88325, and a fall through could take it to the next support level of 0.88121. The pair is expected to find its first resistance at 0.88831, and a rise through could take it to the next resistance level of 0.89133.
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EUR JPY
The EUR traded lower against the JPY and closed at 122.724.
1 - Formed a Motherbar Inside bar @ D1.
2 – Broke the Quarterly Pivot to the down side.
3 - Making a series of LH and LL.
4 - Main Trend Down.
Break above 127 Extension may form a Bullish Momentum.
Break below 127 Extension may form a Bearish Momentum.
According to the Analysis, The pair is expected to find support at 122.518, and a fall through could take it to the next support level of 122.311. The pair is expected to find its first resistance at 122.944, and a rise through could take it to the next resistance level of 123.163.
EUR JPY Previous Day range was 4260 and Current Day Range is 5250.
EUR NZD
The EUR traded higher against the NZD and closed at 1.7093.
1 - Formed a Motherbar Inside bar @ D1.
2 - Stalls at the Yearly Pivot.
3 - Making a series of HH and HL.
Break above 127 Extension may form a Bullish Momentum
Break below 127 Extension may form a Bearish Momentum
According to the Analysis, The pair is expected to find support at 1.70420, and a fall through could take it to the next support level of 1.69906. The pair is expected to find its first resistance at 1.71337, and a rise through could take it to the next resistance level of 1.71740.
EUR NZD Previous Day range was 91.7 and Current Day Range is 33.6.
Fundamental Events over Night
1 - The dollar held near a two-week high against its peers on Friday, supported by strong U.S. economic data and a bounce in Treasury yields.
2 - Pound falls below $1.28 as pressure builds on May to go.
3 - The Australian Dollar depreciated against the US Dollar, following the Australian Employment data set release on Thursday.
GBP JPY
The GBP traded higher against the JPY and closed at 139.972.
The Pair formed
1 - Formed a Motherbar Inside bar @ D1.
2 - Stalls at the Yearly Support.
3 - Making a series of LH and LL.
Break above 127 Extension may form a Bullish Momentum.
Break below 127 Extension may form a Bearish Momentum.
Currency Strength Meter shows that JPY is the weakest for now.
According to the Analysis, The pair is expected to find support at 139.595, and a fall through could take it to the next support level of 139.215. The pair is expected to find its first resistance at 140.420, and a rise through could take it to the next resistance level of 140.869.
GBP JPY Previous Day range was 8250 and Current Day Range is 4340.
GBP USD
The GBP traded lower against the USD and closed at 1.2721.
The Pair formed
1 - Formed a Motherbar Inside bar @ D1
2 - Stalls at the Yearly Support and The Quarter Support
3 - Making a series of LH and LL
Break above 127 Extension may form a Bullish Momentum.
Break below 127 Extension may form a Bearish Momentum.
Currency Strength Meter shows that GBP is the Strongest for now
According to the Analysis, The pair is expected to find support at 1.27044, and a fall through could take it to the next support level of 1.26881. The pair is expected to find its first resistance at 1.27470, and a rise through could take it to the next resistance level of 1.27733.
GBP USD Previous Day range was 42.6 and Current Day Range is 15.6.
Fundamental Overview
POUND: Faces the biggest Weekly drop of the year 2019.
AUD/USD drops 20 pips after RBA minutes talk of rate.
AUD/JPY weakens to revisit 76.00 as RBA minutes seem dovish.
USD JPY
The USD traded higher against the JPY and closed at 110.345.
1- In past it formed a Motherbar Insidebar after a decline of 296 pips, It was in a phase of Accumulation.
2 - Now its above the 60/80 Ema.
3 - Here again it formed a Motherbar Insidebar.
4 - Making a series of HH and HL.
5 - 5 Day ADR High is 110.84 and Low is 109.76 , Roughly 110 pip.
a- 5 Day ADR High
b- Middle Support –1 Month
C- High of the motherbar/insidebar
Break above the 127 Extension of the motherbar high may trigger buying opportunities
Alternatively
Break of the Lower ADR value may resume the previous trend.
According to the Analysis, The pair is expected to find support at 110.182, and a fall through could take it to the next support level of 110.018. The pair is expected to find its first resistance at 110.566, and a rise through could take it to the next resistance level of 110.786.
USD JPY Previous Day range was 3840 and Current Day Range is 2370.
EUR AUD
The EUR traded higher against the AUD and closed at 1.6201.
I have been watching this pair since 4 days as it has many aspects laying inside it
1 - Making a series of HH and HL
2 - Formed a Motherbar Inside bar @ D1
3 - In confluence with
Quarter Pivot
Yearly and Quarter Resistance
5 DAY ADR
4 - Formed a Support Trend Line
Break above 127 Extension may form a Bullish Momentum.
Break below 127 Extension may form a Bearish Momentum.
According to the Analysis, The pair is expected to find support at 1.61838, and a fall through could take it to the next support level of 1.61670. The pair is expected to find its first resistance at 1.62278, and a rise through could take it to the next resistance level of 1.62550.
EUR AUD Previous Day range was 44 and Current Day Range is 39.4.
EUR JPY
The EUR traded lower against the JPY and closed at 123.03.
EURJPY what is this Pair upto?
1 - In past it formed a Motherbar Insidebar after a decline of 296 pips.
2 - Now its above the 60/80 Ema.
3 - Here again it formed a Motherbar Insidebar.
4 - Making a series of HH and HL.
5 - 5 Day ADR High is 123.63 and Low is 122.39, Roughly 150 pip.
6 - It stalling @ Quarter Pivot &
a - 5 Day ADR High
b - Middle Support –1 Month
C - High of the mother bar/in side bar
Break above the 127 Extension of the mother bar high may trigger buying opportunities
Alternatively
Break of the Lower ADR value may resume the previous trend.
According to the Analysis, The pair is expected to find support at 122.837, and a fall through could take it to the next support level of 122.645. The pair is expected to find its first resistance at 123.362, and a rise through could take it to the next resistance level of 123.695.
EUR JPY Previous Day range was 5250 and Current Day Range is 2890.
EUR AUD
The EUR traded higher against the AUD and closed at 1.6201.
I have been watching this pair since 4 days as it has many aspects lying inside it.
1 - Making a series of HH and HL.
2 - Formed a Motherbar Inside bar @ D1.
3 - In confluence with.
Quarter Pivot
Yearly and Quarter Resistance
5 DAY ADR
4 - Formed A Support Trend Line.
Break above 127 Extension may form a Bullish Momentum.
Break below 127 Extension may form a Bearish Momentum.
According to the Analysis, The pair is expected to find support at 1.61709, and a fall through could take it to the next support level of 1.61406. The pair is expected to find its first resistance at 1.62347, and a rise through could take it to the next resistance level of 1.62682.
EUR AUD Previous Day range was 63.8 and Current Day Range is 61.3.
Fundamental Overview
Market is Over Extended
1 - We may see a Weakness in GBP as 3 of its High Impact news are not in a positive zone.
2 - Westpac Now Forecasts 3 RBA Interest-Rate Cuts in 2019.
3 - It confirmed that market is in a state of Risk Aversion/Risk Off.
GBP USD
The GBP traded higher against the USD and closed at 1.2711.
1) The pair closed in its weekly value areas.
2) A bullish sentiment after test of the VPOC may take the market upwards to the VPOC of last week and last 5th week.
3) Pair is in between its 5 DAY ADR levels.
4) Pair is continuously making high volume candles.
5) Breakout zones are drawn on chart.
According to the Analysis, The pair is expected to find support at 1.26608, and a fall through could take it to the next support level of 1.26110. The pair is expected to find its first resistance at 1.27464, and a rise through could take it to the next resistance level of 1.27822.
GBP USD Previous Day range was 85.6 and Current Day Range is 29.6.
Fundamental Overview
1 - GBP/USD - Boosted Slightly After PM May Resigns.
2 - GBP: Time To Start Trimming Shorts, adding long GBPCHF.
For Detailed Technical Analysis Visit XtramForex YouTube Channel.
USD JPY
The USD traded lower against the JPY and closed at 109.483.
1) Pair stalls between the quarter and year pivot.
2) Keep in mind that market is in RISK AVERSION.
3) Breakout of 127 extension may lead the pair to a short trend.
According to the Analysis, The pair is expected to find support at 109.314, and a fall through could take it to the next support level of 109.144. The pair is expected to find its first resistance at 109.618, and a rise through could take it to the next resistance level of 109.752.
USD JPY Previous Day range was 3040 and Current Day Range is 2010.
EUR AUD
The EUR traded lower against the AUD and closed at 1.6176.
1) PIVOT support line broken.
2) Market is below the golden cross EMA.
3) 127 Extensions level may decide the move direction.
According to the Analysis, The pair is expected to find support at 1.61570, and a fall through could take it to the next support level of 1.61376. The pair is expected to find its first resistance at 1.61917, and a rise through could take it to the next resistance level of 1.62070.
EUR AUD Previous Day range was 34.7 and Current Day Range is 47.