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Forex Daily Technical Analysis

Discussion in 'Forex Forum' started by xtreamforex, Feb 14, 2019.

  1. xtreamforex

    xtreamforex Member

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

    GBP USD

    GBP traded lower against USD and closed at 1.2281.

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

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

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

    AUD USD

    AUD traded higher against USD and closed at 0.6846.

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

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

    USD JPY

    USD traded lower against JPY and closed at 106.90.

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

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

    xtreamforex Member

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

    EUR USD

    EUR traded higher against USD and closed at 1.1046.

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

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

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

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

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

    NZD USD

    NZD traded higher against USD and closed at 0.6422.

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

    GBP USD

    GBP traded lower against USD and closed at 1.2345.

    The ILO Unemployment Rate released by the National Statistics is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the UK Economy. If the rate is up, it indicates a lack of expansion within the U.K. labor market. As a result, a rise leads to weaken the U.K. economy. Generally, a decrease of the figure is positive (or bullish) for the GBP, while an increase is negative.

    The Average Earing Excluding Bonus released by the National Statistics is a key short-term indicator of how levels of pay are changing within the UK economy. It can be seen as a measure of growth in "basic pay". Generally speaking, the positive earnings growth anticipates positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).

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

    xtreamforex Member

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

    USD JPY

    USD traded higher against JPY and closed at 107.53.

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

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

    USD CHF

    USD traded lower against CHF and closed at 0.9919.

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

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

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

    AUD USD

    AUD traded higher against USD and closed at 0.6859.

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

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

    xtreamforex Member

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

    NZD USD

    NZD traded lower against USD and closed at 0.6271.

    · NZD/USD rebounding after staging key reversal lower yesterday

    · Pair is up close to 0.59% from the NY close and nearing 0.6300

    · Move up coincided with speech by RBNZ Governor Orr

    · Orr says rates will remain low for long time, but QE unlikely

    · Adds that low rates provides excellent investment opportunities

    · Resistance at 10-day MA at 0.6314 and break eases downward pressure Bank of America Merrill

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

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

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

    GDP growth can have a positive effect on dollar quotes.

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

    USD JPY

    USD traded lower against JPY and closed at 107.76.

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

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

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

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

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

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

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

    Important Economic Events of the Day

    · JPY: BoJ Governor Kuroda Speech

    · USD: United States Gross Domestic Product (GDP) q/q

    · EUR: ECB President Draghi Speech

    · GBP: BoE Governor Carney Speech

    · USD: Pending Home Sales m/m

    · MXN: Bank of Mexico Interest Rate Decision

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

    xtreamforex Member

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

    USD JPY

    USD traded lower against JPY and closed at 107.92

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

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

    USD CNY

    USD traded higher against CNY and closed at 7.1218.

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

    Important Economic Events of the Day

    · JPY: Retail Sales m/m

    · CNY: China Manufacturing Purchasing Managers Index (PMI)

    · CNY: China Non-Manufacturing Purchasing Managers Index (PMI)

    · GBP: United Kingdom Gross Domestic Product (GDP) q/qUSD: Pending Home Sales m/m

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

    xtreamforex Member

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

    AUD USD

    AUD traded lower against USD and closed at 0.6749.

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


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

    USD CAD

    USD traded higher against CAD and closed at 1.3239.

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


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

    Important Economic Events of the Day

    · JPY: Bank of Japan (BoJ) Tankan Large Manufacturing Index

    · JPY: Bank of Japan (BoJ) Tankan Large Non-Manufacturing Index

    · AUD: Reserve Bank of Australia (RBA) Interest Rate Decision

    · AUD: Reserve Bank of Australia (RBA) Governor Lowe Speech

    · CAD: Canada Gross Domestic Product (GDP) m/m

    · USD: ISM United States Manufacturing Purchasing Managers Index (PMI)

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

    xtreamforex Member

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    Why Would Forex Traders Use Forex VPS hosting servers?

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    Using a VPS for your Forex trading can be very efficient if you only have a desktop, or you do not like trading on your lap top or smaller devices. The VPS can be accessed through any computer as long as there is a network connection. So whether you are in the office, at a friend’s house, at a hotel or abroad, you can turn any computer into your own by accessing your VPS and executing your trades.

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    When you purchase a VPS from a reputable company you will also receive a security package, and constant security check ups to make sure your VPS’s security is up to date, this way you know you’re trading won’t be effected by a problem or a virus on your computer.

    VPSs are much faster than a computer, and they will be much faster at transmitting orders than your computer. So by using a VPS you will be avoiding any form of slippage, and avoid any cases of losing money.

    A VPS needs to have a good RAM to take the bare minimum of disk space on your computer, and even though it may be costly it is cheaper than buying an entirely new device to trade on and on the long run it can prove to be efficient.

    XtreamForex Team:

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  8. xtreamforex

    xtreamforex Member

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

    EUR USD

    EUR traded lower against USD and closed at 1.0964.

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

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

    AUD USD

    AUD traded higher against USD and closed at 0.6741.

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

    According to the Analysis, pair is expected to find support at 0.6713 and a fall through could take it to the next support level of 0.6701. The pair is expected to find its first resistance at 0.6753, and a rise through could take it to the next resistance level of 0.6765.

    Important Economic Events of the Day

    · AUD: Australia Retail Sales m/m

    · USD: United States Nonfarm Payrolls

    · CAD: Ivey Canada Purchasing Managers Index (PMI)

    · USD: Federal Reserve System (Fed) Chair Powell Speech

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

    xtreamforex Member

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

    GBP USD

    GBP traded lower against USD and closed at 1.2217.

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

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

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

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

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

    EUR USD

    EUR traded higher against USD and closed at 1.0954.

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

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

    Important Economic Events of the Day

    · USD: Fed’s Chair Powell Speech

    · USD: FOMC Minutes

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

    xtreamforex Member

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

    AUD USD

    AUD traded lower against USD and closed at 0.6752.

    · AUD/USD -0.25% as China reacts to US House taking hard line over Hong Kong

    · China says US House should stop interfering in HKG

    · Undermined by weak AXJ currencies as PBOC Yuan fix on high side of forecasts

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

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

    GBP USD


    GBP traded lower against USD and closed at 1.2786.

    The Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or Bearish).

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

    Important Economic Events of the Day

    · GBP: Consumer Price Index (YoY) (Sep)

    · GBP: BoEs Governor Carney Speech

    · USD: Retail Sales Control Group (Sep)

    · CAD: BoCs Consumer Price Index Core (YoY) (Sep)

    For More information about the release time of news and its impact visit Economic Calendar Page!
     
  11. S1lver

    S1lver New Member

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    I can't understand one thing in the analysis like yours - why don't you make money with them but share them here? Who would give away their goldfish? I guess he's not gold in the end.
     

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