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XtreamForex  
#1 Posted : Friday, June 21, 2019 9:52:49 AM(UTC)
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Hello My name is Anu. Official Representative of XtreamForex. In this thread we will share daily technical analysis of Forex Pairs. For any kind of query you can ask here, I will assist you as soon as possible! With Regards Anu

XtreamForex  
#2 Posted : Friday, June 21, 2019 9:54:38 AM(UTC)
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Technical Overview of GBP/USD and AUD/USD Currency Pair

GBP USD

GBP traded lower against USD and closed at 1.2697.

Sterling slips after BoE holds rates but cuts growth forecast

The BoE message was far less dovish than the U.S. Federal Reserve  and European Central Bank, which this week opened the door to rate cuts.

Sterling has rallied in recent days, pulling away from five-month lows, as investors dumped the dollar following the Fed’s dovish signaling.

According to the Analysis, pair is expected to find support at 1.26437 and a fall through could take it to the next support level of 1.25904. The pair is expected to find its first resistance at 1.27385, and a rise through could take it to the next resistance level of 1.27800.

AUD USD

AUD traded higher against USD and closed at 0.6919.

Black Rock Inc. is shorting the Australian dollar.

The currency has been out of favor this year as the RBA turned dovish and cut rates for the first time in three years. The central bank trimmed its cash rate by 25 basis points to 1.25% on June 4, with Governor Philip saying the decision would help reduce unemployment and boost inflation.

According to the Analysis, pair is expected to find support at 0.68858, and a fall through could take it to the next support level of 0.68523. The pair is expected to find its first resistance at 0.69441, and a rise through could take it to the next resistance level of 0.69689.

Key Fundamentals of the Day

FED has a next move, Opportunity to Sell

Fed easing will eventually pull USD lower. It’s believed that any additional USD firmness over the next 1-2 weeks will set up for a sell opportunity.

Suicide Rates among Young Americans Accelerates To Highest Level Since 2000.

XtreamForex  
#3 Posted : Tuesday, June 25, 2019 7:02:40 AM(UTC)
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Technical Overview of USD/JPY, EUR/USD and AUD/USD Currency Pair

USD JPY

USD traded lower against JPY and closed at 107.29.

The Citigroup analysts make a case for buying the dips in the USD/JPY pair below 107.50  support area, as they believe the downside doesn’t look more compelling.

USD: Weakness Likely To Extend As Key Technical Support Levels Are Broken.

The dollar index finally broke below its 200-day moving average on Friday at 96.600 which opens the door to further weakness in the near-term.

Flags a scope for further weakness in the future.

According to the Analysis, pair is expected to find support at 107.179 and a fall through could take it to the next support level of 107.068. The pair is expected to find its first resistance at 107.468, and a rise through could take it to the next resistance level of 107.646.

EUR USD

EUR traded higher against USD and closed at 1.1397.

Longs Super-Trade In The Month Heading To Fed's Cut.

EUR/USD position as the second-best G-10 FX trade in months leading up to the first Fed cut, only outpaced by a long EUR/NZD position.

ECB easing is also a done deal now, as Draghi hinted of easing unless the outlook improves (more QE and a rate cut).

The outlook will not improve (before 2020), but the ECB usually delivers when projections are updated – i.e. in September (they will ease with a time-lag after the Fed.

According to the Analysis, pair is expected to find support at 1.13742, and a fall through could take it to the next support level of 1.13511. The pair is expected to find its first resistance at 1.14120, and a rise through could take it to the next resistance level of 1.14267.

AUD USD

AUD traded lower against USD and closed at 0.6958.

RBA Maintains Call For Infrastructure Investment.

Rate cuts at low yield levels may not be enough to boost economy.

Quantitative Easing may be done.

According to the Analysis, pair is expected to find support at 0.69354, and a fall through could take it to the next support level of 0.69122. The pair is expected to find its first resistance at 0.69750, and a rise through could take it to the next resistance level of 0.69914.

Key Fundamentals of the Day

Gold- Fed is seen cutting rates by a 50bp in July

Analysts at Morgan Stanley raises their gold price forecast for the second half of this year and the year after, in the face of the dovish Fed rate expectations, broad dollar weakness, global economic slowdown and falling US rates.

Real yields close to zero would reduce demand for yielding USD assets, could increase the demand for gold.

The negative territory could generate considerable further upside for gold's price.

Gold price forecast to average USD 1,435 in H2 of this year and USD 1,338 in 2020. 

For Detailed analysis visit XtreamForex YouTube Channel.

XtreamForex  
#4 Posted : Wednesday, June 26, 2019 7:06:45 AM(UTC)
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Technical Overview of EUR/USD and GBP/USD Currency Pair

EUR USD

EUR traded lower against USD and closed at 1.1365.

EUR/USD position as the second-best G-10 FX trade in months leading up to the first Fed cut, only outpaced by a long EUR/NZD position.

ECB easing is also a done deal now, as Draghi hinted of easing unless the outlook improves (more QE and a rate cut).

The outlook will not improve (before 2020), but the ECB usually delivers when projections are updated – i.e. in September (they will ease with a time-lag after the Fed.

Break of ADR Highs to further extensions or Break of Support to form a Double top.

According to the Analysis, pair is expected to find support at 1.13353 and a fall through could take it to the next support level of 1.13059. The pair is expected to find its first resistance at 1.14030, and a rise through could take it to the next resistance level of 1.14413.

GBP USD

GBP traded lower against USD and closed at 1.2675.

Pair @ support from previous 3 week Pivot.

Pair @ support from Pivot support candle.

Preparing for Pre G-20 Meeting.

Resistance @ Pivot resistance candle.

Resistance @ Monthly Pivot.

According to the Analysis, pair is expected to find support at 1.26366, and a fall through could take it to the next support level of 1.25980. The pair is expected to find its first resistance at 1.27488, and a rise through could take it to the next resistance level of 1.28224.

Key Fundamentals of the Day

The dollar fell against most major currencies on Tuesday, hitting a three-month low against the euro.

As expectations of multiple decreases of U.S. interest rates by the Federal Reserve have spurred selling of the U.S. currency.

Growing tensions between Iran and the United States stoked fresh safe-haven buying of the yen.

President Donald Trump believes the U.S. dollar is too strong, and the euro is. 

For Detailed analysis visit XtreamForex YouTube Channel.

XtreamForex  
#5 Posted : Thursday, June 27, 2019 6:25:05 AM(UTC)
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Technical Overview of EUR/CHF, EUR/JPY and AUD/JPY Currency Pair

EUR CHF

EUR traded higher against CHF and closed at 1.1116.

Long-term trend: Neutral. The weekly close below support around 1.1130 suggests further selling pressure.

Short-term trend: Down. The consolidation below the lower end trading of the trading range around 1.1150 is bearish.

According to the Analysis, pair is expected to find support at 1.10864 and a fall through could take it to the next support level of 1.10571. The pair is expected to find its first resistance at 1.11345, and a rise through could take it to the next resistance level of 1.11533.

EUR JPY

EUR traded higher against JPY and closed at 122.527.

Long-term trend: Down. A test of the solid horizontal support around 111.95 should be expected.

Short-term trend: Neutral. Higher prices are still possible, although the upside potential remains limited.

According to the Analysis, pair is expected to find support at 121.983, and a fall through could take it to the next support level of 121.440. The pair is expected to find its first resistance at 122.848, and a rise through could take it to the next resistance level of 123.170.

AUD JPY

AUD traded higher against JPY and closed at 75.271.

Long-term trend: Down. Long-term solid horizontal support comes in around 72.15.

Short-term trend: Neutral: Bottoming scenario confirmed by breaking upper end falling trend channel around 74.70.

According to the Analysis, pair is expected to find support at 74.745, and a fall through could take it to the next support level of 74.220. The pair is expected to find its first resistance at 75.572, and a rise through could take it to the next resistance level of 75.874.

For Detailed analysis visit XtreamForex YouTube Channel.

XtreamForex  
#6 Posted : Monday, July 1, 2019 6:56:18 AM(UTC)
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Technical Overview of USD/CNH, USD/CHF and USD/CAD Currency Pair

USD CNH

USD traded higher against CNH and closed at 6.8679.

G20 Summit is over now, it’s expected that the weakness of the USD may continue.

On the other hand we may see strength in the safe heaven and CNH.

President Donald Trump wants a weaker dollar to help boost exports, and is counting on the Federal Reserve to help make that happen. But the central bank’s chairman, Jerome Powell, has made clear it’s not his job.

According to the Analysis, pair is expected to find support at 6.85980 and a fall through could take it to the next support level of 6.85170. The pair is expected to find its first resistance at 6.87757, and a rise through could take it to the next resistance level of 6.88724.

USD CHF

USD traded higher against CHF and closed at 0.9764.

According to the Analysis, pair is expected to find support at 0.97432, and a fall through could take it to the next support level of 0.97225. The pair is expected to find its first resistance at 0.97793, and a rise through could take it to the next resistance level of 0.97947.

USD CAD

USD traded higher against CAD and closed at 1.3099.

According to the Analysis, pair is expected to find support at 1.30715, and a fall through could take it to the next support level of 1.30440. 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 1.31294.

Major Economic Events of the Day

The Caixin China Manufacturing PMI, released by Market, is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private manufacturing sector companies.

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).

For Detailed analysis visit XtreamForex YouTube Channel.

XtreamForex  
#7 Posted : Tuesday, July 2, 2019 6:25:39 AM(UTC)
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Technical Overview of AUD/USD Currency Pair

AUD USD

AUD traded higher against USD and closed at 0.6963.

The Reserve Bank of Australia (RBA), as was widely expected, decided to cut interest rates for the second month in a row to a historic low level of 1.0% at its July monetary policy meeting held this Tuesday.

The decision was on expected lines and hence, did little to prompt any fresh selling around the Australian Dollar, with the AUD/USD pair holding steady above mid-0.6900s.

According to the Analysis, pair is expected to find support at 0.69344 and a fall through could take it to the next support level of 0.69057. The pair is expected to find its first resistance at 0.70132, and a rise through could take it to the next resistance level of 0.70633.

Major Economic Events of the Day

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.

Philip Lowe replaced Glenn Stevens as governor of Australia’s central bank. Lowe was the Deputy Governor of the Reserve Bank of Australia, a position he held since February 2012.

For Detailed analysis visit XtreamForex YouTube Channel.

XtreamForex  
#8 Posted : Monday, July 8, 2019 6:36:30 AM(UTC)
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Technical Overview of GBP/USD and EUR/JPY Currency Pair

GBP USD

GBP traded higher against USD and closed at 1.2527.

GBP/USD - Charts Suggest the 2019 Low Is Vulnerable.

D1 and H4 200 EMA Heads to south. Broke D1 Ib towards the down side. Broke the Quarter Support and Month Support.

Series of Lower Lows and Lower Highs.

 

According to the Analysis, pair is expected to find support at 1.24759 and a fall through could take it to the next support level of 1.24252. The pair is expected to find its first resistance at 1.25822, and a rise through could take it to the next resistance level of 1.26378.

 

EUR JPY

EUR traded lower against JPY and closed at 121.779.

EUR/JPY: Scope for Retesting 120.82.

D1 and H4 200 EMA Heads to south. Broke D1 Ib towards the down side.

It's in range but projects towards the down side.

According to the Analysis, pair is expected to find support at 121.596 and a fall through could take it to the next support level of 121.414. The pair is expected to find its first resistance at 121.943, and a rise through could take it to the next resistance level of 122.108.

 

Major Economic Events of the Day

Bank of Japan Governor Haruhiko Kuroda will hold a press conference about monetary policies in Tokyo. Mr Kuroda exercises general control over the Bank's business. He is in charge of the Internal Auditors' Office.

For Detailed analysis visit XtreamForex YouTube Channel.

XtreamForex  
#9 Posted : Wednesday, July 10, 2019 9:12:22 AM(UTC)
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Technical Overview of EUR/USD and AUD/USD and GBP/NZD Currency Pair

EUR USD

EUR traded higher against USD and closed at 1.1208.

EUR is expected to trade sideways, likely within a 1.1190/1.1230 range.

According to the Analysis, pair is expected to find support at 1.11943 and a fall through could take it to the next support level of 1.11810. The pair is expected to find its first resistance at 1.12198, and a rise through could take it to the next resistance level of 1.12320.

 

AUD USD

AUD traded lower against USD and closed at 0.6926.

AUD/USD - Edges Lower After Weak Consumer Confidence Bears Seem Confident Ahead Of Fed 

According to the Analysis, pair is expected to find support at 0.69059 and a fall through could take it to the next support level of 0.68858. The pair is expected to find its first resistance at 0.69604, and a rise through could take it to the next resistance level of 0.69948.

 

GBP NZD

GBP traded lower against NZD and closed at 1.8856.

Overnight NZD was struck by a massive selling order. It was almost 34 pips in Asian session.

UK Manufacturing Production today

We can see that the expected 2.1 is way lot better than previous –3.9 if we have a positive tone from GBP then the Technical and fundamental bounce from the lows will be supported.

According to the Analysis, pair is expected to find support at 1.88115 and a fall through could take it to the next support level of 1.87673. The pair is expected to find its first resistance at 1.88989, and a rise through could take it to the next resistance level of 1.89421.

 

Major Economic Events of the Day

CAD: BOC Tone On Wed Likely A Bit More Optimistic Than Markets Assuming – CIBC “While not a stunner for markets, the tone will tend to be a bit more optimistic than what markets are now assuming.”

The Consumer Price Index is released by the National Bureau of Statistics of China. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative (or Bearish) for the CNY.

Federal Reserve Chair Jerome Powell testifies before Congress, providing a broad overview of the economy and monetary policy. Powell's prepared remarks are published ahead of the appearance on Capitol Hill.

For Detailed analysis visit XtreamForex YouTube Channel.

XtreamForex  
#10 Posted : Friday, July 12, 2019 7:41:43 AM(UTC)
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Technical Overview of USD/CAD and USD/JPY Currency Pair

 

USD CAD

USD traded lower against CAD and closed at 1.3069.

Trades near the yearly-low (1.3037) even though the Bank of Canada (BoC) endorses a wait-and-see approach for monetary policy, and recent price action keeps the downside targets on the radar as the exchange rate fails to break out of the monthly opening range.

According to the Analysis, pair is expected to find support at 1.30436 and a fall through could take it to the next support level of 1.30179. The pair is expected to find its first resistance at 1.30931, and a rise through could take it to the next resistance level of 1.31169.

 

USD JPY

USD traded lower against JPY and closed at 108.487.

USD/JPY to find support from yields may face resistance above 109.00. Its approaching resistance level and fundamentally the weakness of USD may drive the pair lower.

According to the Analysis, pair is expected to find support at 108.053 and a fall through could take it to the next support level of 107.618. The pair is expected to find its first resistance at 108.726, and a rise through could take it to the next resistance level of 108.964.

For Detailed analysis visit XtreamForex YouTube Channel.

XtreamForex  
#11 Posted : Monday, July 15, 2019 6:53:26 AM(UTC)
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Technical Overview of AUD/USD and USD/JPY Currency Pair

AUD USD

AUD traded higher against USD and closed at 0.7022.

Maintain a bullish data; Staying Long is more favorable as compared to short. Daily chart has a break above close above 10 EMA. Targets may be 0.73, Daily High and Weekly High has also been breached over night. Looking for a break meaningfully above resistance earlier this week at 0.7036 and remain long AUDUSD targeting 0.7300.

According to the Analysis, pair is expected to find support at 0.69868 and a fall through could take it to the next support level of 0.69515. The pair is expected to find its first resistance at 0.70409, and a rise through could take it to the next resistance level of 0.70597.

 

USD JPY

USD traded higher against JPY and closed at 107.885.

3 - Bearish Days for the Dollar, Expectations are the Rate cut by end of July. Bearish sentiment leads the currency against the basket of CHF and JPY. Selling rallies may be a positive approach in trading the safe-heaven. The basket trades below Quarterly and Yearly Pivots.

According to the Analysis, pair is expected to find support at 107.589 and a fall through could take it to the next support level of 107.292. The pair is expected to find its first resistance at 108.394, and a rise through could take it to the next resistance level of 108.902.

 

Major Events of the Day

NZD: Consumer Price Index (YoY) (Q2)

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.

 

CNY: Gross Domestic Product (QoQ) (Q2)

The Gross Domestic Product (GDP) released by the National Bureau of Statistics of China studies the gross value of all goods and services produced by China. The indicator presents the pace at which the Chinese economy is growing or decreasing. As the Chinese economy has influence on the global economy, this economic event would have an impact on the Forex market. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative (or Bearish).

For Detailed analysis visit XtreamForex YouTube Channel.

XtreamForex  
#12 Posted : Thursday, July 18, 2019 12:54:39 PM(UTC)
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Technical Overview of AUD/USD and EUR/JPY Currency Pair

AUD USD

AUD traded higher against USD and closed at 0.7008.

  • Higher After Post-Aus Jobs Short-Covering
  • AUD/NZD rallied from a 4-month low at 1.0404 to 1.0435.
  • AUD/USD rally was short-covering as it doesn't change RBA expectations.
  • Resistance at 0.7045 while 10-day MA at 0.6991 is support.

According to the Analysis, pair is expected to find support at 0.69948 and a fall through could take it to the next support level of 0.69811. The pair is expected to find its first resistance at 0.70233, and a rise through could take it to the next resistance level of 0.70381.

EUR JPY

EUR traded lower against JPY and closed at 121.15.

  • JPY breaking its lows on daily candle as well as weekly candle.
  • The losers against the JPY are USD and EUR for now.
  • Pretty decent Harmonic patterns found on H4 charts that are in confluence with the Fundamental expects.

According to the Analysis, pair is expected to find support at 121.038 and a fall through could take it to the next support level of 120.926. The pair is expected to find its first resistance at 121.371, and a rise through could take it to the next resistance level of 121.592.

For Detailed analysis visit XtreamForex YouTube Channel.

XtreamForex  
#13 Posted : Monday, July 22, 2019 10:17:22 AM(UTC)
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Technical Overview of EUR/USD, AUD/NZD and EUR/JPY Currency Pair EUR USD EUR traded higher against USD and closed at 1.1220. Below 200 and 50 EMA with the trend towards the down side. Making a series of Lower Highs and Lower Lows. Stalling in the Weekly Inside bar Pattern. Break on either side may lead the trend. The most important factor is the Fed rate cut. According to the Analysis, pair is expected to find support at 1.1214 and a fall through could take it to the next support level of 1.1207. The pair is expected to find its first resistance at 1.1226, and a rise through could take it to the next resistance level of 1.1231. AUD NZD AUD traded lower against NZD and closed at 1.0401. Below 200 and 50 EMA with the trend towards the down side. Making a series of Lower Highs and Lower Lows. Broke the Weekly inside Bar Pattern to the down side. Broke the low of Monthly candle, Any Selling opportunity may be good option. According to the Analysis, pair is expected to find support at 1.0383 and a fall through could take it to the next support level of 1.0376. The pair is expected to find its first resistance at 1.0396, and a rise through could take it to the next resistance level of 1.0402. EUR JPY EUR traded lower against JPY and closed at 120.77. Bears in control as they broke the Weekly In sidebar and are to target the bearish ABCD Pattern, heading towards minimum 127 extension. ECB steers the market towards more easing later in the year. Quantitative Easing and Further rate cut by 10 Basis Points will weaken the EURO. This rate cut may occur in September. Until then EURO may remain sideways. According to the Analysis, pair is expected to find support at 120.94 and a fall through could take it to the next support level of 120.86. The pair is expected to find its first resistance at 121.10, and a rise through could take it to the next resistance level of 121.20. For Detailed analysis visit XtreamForex YouTube Channel.

Edited by user Monday, July 22, 2019 10:20:43 AM(UTC)  | Reason: Not specified

XtreamForex  
#14 Posted : Tuesday, July 23, 2019 9:09:10 AM(UTC)
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Technical Overview of EUR/USD and GBP/CHF Currency Pair

EUR USD

EUR traded lower against USD and closed at 1.1208. EUR/USD - Bears get clear signals ahead of ECB Meet. We have break below close below of Daily Ib and Weekly Ib. Bollinger bands facing towards south. EUR/USD near-term downside limited to channel base 1.1158 Quiet Trading Expected Ahead Of Key Event Risks ECB meeting Thursday and FOMC next week likely be catalysts for breakout. According to the Analysis, pair is expected to find support at 1.12013 and a fall through could take it to the next support level of 1.11941. The pair is expected to find its first resistance at 1.12204, and a rise through could take it to the next resistance level of 1.12323.

GBP CHF

​​​​​​​GBP traded higher against CHF and closed at 1.225. The GBP/CHF continued to trade downwards, targeting the lower area located @1.2000. 

Given that the currency pair is pressured by the 55-, 100– and 200-hour moving averages and has breached low of Monthly candle currently located in the 1.2285/1.2325 range, it is expected, that the British Pound could continue to depreciate against the Swiss Franc.

According to the Analysis, pair is expected to find support at 1.22173 and a fall through could take it to the next support level of 1.21845. The pair is expected to find its first resistance at 1.22931, and a rise through could take it to the next resistance level of 1.23361.

 

Fundamentals of the Day

1) Dollar rises as fears of a 50 point interest-rate cut fade

The U.S. dollar rose in afternoon trade on Friday as fears of a larger-than-expected 50-basis-point interest rate cut in July abated after the New York Federal Reserve walked back dovish comments from its president the prior day.

2) ECB Bank Lending Survey

The bank lending survey (BLS) for the euro area was launched in 2003. Its main objective is to enhance the Eurosystem’s knowledge of financing conditions in the euro area. The BLS provides input to the ECB Governing Council’s assessment of monetary and economic developments, on which it bases its monetary policy decisions.

3) FPC Meeting Minutes

Bank of England Financial Policy Committee Minutes is a detailed record of the FPC's most recent meeting. The report, which is released quarterly, provides in-depth insights into the financial conditions and decisions towards financial stability.

4) Tory Leadership Contest Result Announcement

The UK Conservative Party is set to announce the results of the vote for its new leadership. UK tories have been voting for weeks and the race has been trimmed to two candidates: Boris Johnson and Jeremy Hunt. The winner of the contest will become the new British Prime Minister, succeeding Theresa May at the Number 10 Downing Street office. For Detailed analysis visit XtreamForex YouTube Channel.

Edited by user Tuesday, July 23, 2019 9:10:05 AM(UTC)  | Reason: Not specified

XtreamForex  
#15 Posted : Monday, July 29, 2019 10:03:31 AM(UTC)
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Technical Overview of EUR/USD and GBP/USD Currency Pair

EUR USD

EUR traded lower against USD and closed at 1.1121. Staying Tactically Bearish For 1.1050; A 50bp Fed Cut Would Be A Game Changer. According to the Analysis, pair is expected to find support at 1.12150 and a fall through could take it to the next support level of 1.11543. The pair is expected to find its first resistance at 1.14118, and a rise through could take it to the next resistance level of 1.14725.

GBP USD

​​​​​​​GBP traded higher against USD and closed at 1.2343.

To New 2019 Low As EU Affirms No Reopening Of Brexit Deal.

According to the Analysis, pair is expected to find support at 1.25558 and a fall through could take it to the next support level of 1.24902. The pair is expected to find its first resistance at 1.27682, and a rise through could take it to the next resistance level of 1.28338.

COT Report for Different Currencies this week

COT Report for Swisse

Swissie Net Commercials volume is above the 0 mark and in a positive side showing Net Long positions in strength.

Its a wise decision to remain Long on swissie.

COT Report for Canadian Dollar

Here In Canadian Dollar Net Commercials we see that from the 11th June- 18th June.

The Canadian Dollar has weighted towards a Net Commercial Short Position.

Means that Shorting Canadian Will be a wise decision, Alternatively Going Long on the retracements can also be entertained.

COT Report for US Dollar

US Dollar Net Commercial Positions Weighs towards the Net Short side.

It can be clearly seen that from the Year start , the commercials have been interested in shorting the US Dollar.

COT Report for GBP

After facing turbulance from 19 March to almost a month ,GBP Net commercials weigh towards the Long Net Positions.

GBP may show some reaction to the COT Report this week. For Detailed analysis visit XtreamForex YouTube Channel.

XtreamForex  
#16 Posted : Monday, August 5, 2019 6:13:25 AM(UTC)
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Technical Overview of EUR/USD, AUD/USD and NZD/USD Currency Pair

EUR USD

EUR traded higher against USD and closed at 1.1107. The ISM Non-Manufacturing Index released by the Institute for Supply Management (ISM) today shows business conditions in the US non-manufacturing sector. It is worth noting that the non-manufacturing sector does not influence, either positively or negatively, the GDP as much as the ISM Manufacturing does. A result above 50 is positive (or bullish) for the USD. According to the Analysis, pair is expected to find support at 1.1121 and a fall through could take it to the next support level of 1.1117. The pair is expected to find its first resistance at 1.1130 and a rise through could take it to the next resistance level of 1.1135.

AUD USD

​​​​​​​AUD traded lower against USD and closed at 0.6799.

  • AUD/USD down 0.5% in sympathy with a weakening Yuan as China fights back.
  • USD/CNY blasts through pivotal 7.00 as US-China trade tensions escalate.
  • Leads to risk aversion in Asia as risk/EM assets sold across board.
  • Havens JPY, XAU +0.5%, US-10 year yield hits 1.7890, lowest since Nov 9, 2016.
  • Risk barometer AUD/JPY -1% to a new 2019 low; RBA to sound more dovish Tues?

According to the Analysis, pair is expected to find support at 0.6776 and a fall through could take it to the next support level of 0.6768. The pair is expected to find its first resistance at 0.6789, and a rise through could take it to the next resistance level of 0.6794.

NZD USD

NZD traded lower against USD and closed at 0.6540

  • A number of downward slopping trend lines indicate weakness of NZD/USD.
  • 10-week old support-line grabs bears’ attention.
  • In addition to a two-day long descending trend-line, the NZD/USD pair’s sustained trading below a resistance-line stretched since late-July also portrays its weakness as the quote seesaws near 0.6510 during early Monday.

The Employment Change released by the Statistics New Zealand is a measure of the change in the number of employed people in New Zealand. Generally speaking, today a rise in this indicator has positive implications for consumer spending which stimulates economic growth. A high reading is seen as positive (or bullish) for the NZ dollar, while a low reading is seen as negative (or bearish).

According to the Analysis, pair is expected to find support at 0.6521 and a fall through could take it to the next support level of 0.6513. The pair is expected to find its first resistance at 0.6533, and a rise through could take it to the next resistance level of 0.6537.

Edited by user Monday, August 5, 2019 6:14:18 AM(UTC)  | Reason: Not specified

XtreamForex  
#17 Posted : Tuesday, August 6, 2019 8:43:51 AM(UTC)
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Technical Overview of AUD/USD, GBP/USD and USD/JPY Currency Pair

AUD USD

AUD traded lower against USD and closed at 0.6756.

  • AUD/USD remains upbeat as the RBA renounce from the policy change.
  • The central bank stepped back from suggesting further rate cuts.
  • Trade/political news will be followed for fresh impulse.

According to the report of The Reserve Bank of Australia (RBA), there will be no change in the monetary policy, offers a 1.0% interest rate. The central bank avoid from supporting further rate cuts while leaving the door open based on future growth conditions. Earlier during the day, upbeat trade balance data for June also pleased Aussie buyers.

According to the Analysis, pair is expected to find support at 0.678 and a fall through could take it to the next support level of 0.677. The pair is expected to find its first resistance at 0.6797 and a rise through could take it to the next resistance level of 0.6803.

GBP USD

​​​​​​​GBP traded higher against USD and closed at 1.2143.

  • GBP/USD stays on defensive 100 hour exponential moving average.
  • 4-day old support-line seems immediate rest ahead of 1.2080.

According to the Analysis, pair is expected to find support at 1.2101 and a fall through could take it to the next support level of 1.2057. The pair is expected to find its first resistance at 1.2189, and a rise through could take it to the next resistance level of 1.2233.

USD JPY

USD traded higher against JPY and closed at 105.9500.

The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time. GDP is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing. A high reading or a better than expected number is seen as positive for the JPY, while a low reading is negative.

Previous reading for Gross Domestic Product was 0.6%.

Expected GDP is 0.1%.

According to the Analysis, pair is expected to find support at 106.43 and a fall through could take it to the next support level of 106.17. The pair is expected to find its first resistance at 107.02, and a rise through could take it to the next resistance level of 107.36.

Edited by user Tuesday, August 6, 2019 8:45:46 AM(UTC)  | Reason: Not specified

XtreamForex  
#18 Posted : Thursday, August 8, 2019 9:12:44 AM(UTC)
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Technical Overview of NZD/USD, EUR/USD and USD/CNY Currency Pair

NZD USD

NZD traded lower against USD and closed at 0.6446.

  • Lower than expected USD/CNY fix and comments from RBNZ calming markets.
  • RBNZ asst Governor Hawkes by is confident inflation will rise after 50 BP cut.
  • Hawkes by said unconventional tools an option only if inflation tanks.
  • NZD/USD resistance at former support at 0.6480/90 where sellers are tipped.

The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time. GDP is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing. A high reading or a better than expected number is seen as positive for the JPY, while a low reading is negative. According To consensus GDP rate is expected to be lower than previous rate.  

According to the Analysis, pair is expected to find support at 0.6455 and a fall through could take it to the next support level of 0.6452. The pair is expected to find its first resistance at 0.6461 and a rise through could take it to the next resistance level of 0.6463. EUR USD EUR traded higher against USD and closed at 1.1199.

Danske Research discusses EUR/USD outlook and expects a dip back towards 1.10 in EUR/USD on 1-3M on yet another Fed disappointment in September.

According to the Analysis, pair is expected to find support at 1.1211 and a fall through could take it to the next support level of 1.1209. The pair is expected to find its first resistance at 1.1214, and a rise through could take it to the next resistance level of 1.1216.

 

USD CNY

USD traded lower against CNY and closed at 7.0602.

USD/CNY fix at 7.0039, which was below market estimates.

The Consumer Price Index is released by the National Bureau of Statistics of China. It is a measure of retail price variations within a representative basket of goods and services. The result is a comprehensive summary of the results extracted from the urban consumer price index and rural consumer price index. The purchase power of the CNY is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A substantial consumer price index increase would indicate that inflation has become a destabilizing factor in the economy, potentially prompting The People’s Bank of China to tighten monetary policy and fiscal policy risk. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative (or Bearish) for the CNY.

According to the Analysis, pair is expected to find support at 7.0359 and a fall through could take it to the next support level of 7.0116. The pair is expected to find its first resistance at 7.0749, and a rise through could take it to the next resistance level of 7.0896.

XtreamForex  
#19 Posted : Friday, August 9, 2019 6:14:13 AM(UTC)
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Technical Overview of AUD/USD, GBP/USD and USD/CAD Currency Pair

AUD USD

AUD traded lower against USD and closed at 0.6802.

  • RBA quarterly SOMP just released is in line with dovish market assumptions
  • RBA notes the downside risks posed by US-China trade war escalation
  • AUD/USD off early high (0.6822), but still holding above 0.6800

The RBA Monetary Policy Statement released by the Reserve bank of Australia 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. It is considered as a clear guide to the future RBA interest rate policy. Any changes in this report affect the AUD volatility. If the RBA statement shows a hawkish outlook, that is seen as positive (or bullish) for the AUD, while a dovish outlook is seen as negative (or bearish).

According to the Analysis, pair is expected to find support at 0.6713 and a fall through could take it to the next support level of 0.6666. The pair is expected to find its first resistance at 0.6789 and a rise through could take it to the next resistance level of 0.6818.

GBP USD

GBP traded higher against USD and closed at 1.2133.

The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).

According to the Analysis, pair is expected to find support at 1.2113 and a fall through could take it to the next support level of 1.2082. The pair is expected to find its first resistance at 1.2182, and a rise through could take it to the next resistance level of 1.2221.

USD CAD

 USD traded lower against CAD and closed at 1.3227.

The employment Change released by the Statistics Canada is a measure of the change in the number of employed people in Canada. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive, or bullish for the CAD, while a low reading is seen as negative or bearish.

 The Unemployment Rate released by the Statistics Canada is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the Canadian Economy. If the rate is up, it indicates a lack of expansion within the Canadian labor market. As a result, a rise leads to weaken the Canadian economy. Normally, a decrease of the figure is seen as positive (or bullish) for the CAD, while an increase is seen as negative or bearish.

According to the Analysis, pair is expected to find support at 1.3279 and a fall through could take it to the next support level of 1.3251. The pair is expected to find its first resistance at 1.334, and a rise through could take it to the next resistance level of 1.3373.

Edited by user Friday, August 9, 2019 6:15:27 AM(UTC)  | Reason: Not specified

XtreamForex  
#20 Posted : Monday, August 12, 2019 6:00:46 AM(UTC)
XtreamForex

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

USD JPY

USD traded lower against JPY and closed at 105.6900.

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

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

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

NZD USD

NZD traded lower against USD and closed at 0.6468.

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

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

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

USD CHF

USD traded lower against CHF and closed at 0.9727.

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

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

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

Edited by user Monday, August 12, 2019 6:01:52 AM(UTC)  | Reason: Not specified

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