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Daily Forex Technical Analysis
Technical Overview of USD/CAD, EUR/USD and USD/CHF Currency Pairs
USD CAD
The USD traded higher against the CAD and closed at 1.3292.
Fed Industrial Production m/m reflects the production volume in the US in the given month compared to the previous one. The calculation includes the monthly industrial production of factories, mining enterprises and electric networks. Publishing business and periodicals are included as well. The index is calculated relative to the base period having a reference level of 100% (currently, it is the year of 2002).
The Fed uses this report for evaluating inflation and the country's manufacturing sector. The indicator can also be used to forecast the current period's GDP.
A higher than expected reading can have a positive effect on dollar quotes.
According to the Analysis, The pair is expected to find support at 1.32341, and a fall through could take it to the next support level of 1.31757. The pair is expected to find its first resistance at 1.33454, and a rise through could take it to the next resistance level of 1.33983.
Previous Day range was 111.3 and Current Day Range is 23.5.
EUR USD
The EUR traded higher against the USD and closed at 1.1294.
ECB Executive Board Member Speech can have an impact on the euro depending on the speech rhetoric and hints that analysts can find in the speech. Executive board members vote on interest rate and the monetary policy of the European regulator.
The pair is expected to find support at 1.12597, and a fall through could take it to the next support level of 1.12250. The pair is expected to find its first resistance at 1.13189, and a rise through could take it to the next resistance level of 1.13434.
EUR USD previous Day range was 59.2 and Current Day Range is 12.8.
USD CHF
The USD traded higher against CHF and closed at 1.0047.
Fed Industrial Production m/m reflects the production volume in the US in the given month compared to the previous one. The calculation includes the monthly industrial production of factories, mining enterprises and electric networks. Publishing business and periodicals are included as well. The index is calculated relative to the base period having a reference level of 100% (currently, it is the year of 2002).
The Fed uses this report for evaluating inflation and the country's manufacturing sector. The indicator can also be used to forecast the current period's GDP.
A higher than expected reading can have a positive effect on dollar quotes.
According to the analysis, pair is expected to find support at 1.00281, and a fall through could take it to the next support level of 1.00097. The pair is expected to find its first resistance at 1.00815, and a rise through could take it to the next resistance level of 1.01165.
USD CHF previous day range was 53.4 and current day range is 13.3.
Technical Overview of EUR/USD, GBP/USD and USD/CHF Currency Pairs
EUR USD
The EUR traded lower against the USD and closed at 1.1308.
ZEW Economic Sentiment Indicator is calculated monthly by the Center of European Economic Research on the basis of a survey of around 300 experts from banks, insurance companies and financial departments of corporations. The survey participants are asked about their expectations concerning the economy, inflation rates, interest rates, stock markets, and oil prices for the next six months. The index reflects the sentiment of institutional investors.
Index growth may have a positive impact on euro quotes.
According to the Analysis, The pair is expected to find support at 1.12868, and a fall through could take it to the next support level of 1.12604. The pair is expected to find its first resistance at 1.13298, and a rise through could take it to the next resistance level of 1.13510.
Previous Day range was 44.7 and Current Day Range is 19.8.
GBP USD
The GBP traded lower against the USD and closed at 1.2919.
Claimant Count Change presents the change in the number of people claiming unemployment benefits during the given month.
An increase in the claimant count is an indication of weakness in the labor narket and can have a negative effect on the GDP quotes.
The pair is expected to find support at 1.28939, and a fall through could take it to the next support level of 1.28692. The pair is expected to find its first resistance at 1.29400, and a rise through could take it to the next resistance level of 1.29614.
GBP USD previous Day range was 46.1 and Current Day Range is 29.6.
USD CHF
The USD traded higher against CHF and closed at 1.0038.
Federal Open Market Committee (FOMC) Member Speech may contain indications on the possible future changes in the Fed's monetary policy.
Committee members participate in interest rate voting, determine appropriate monetary policy measures and assess the risks to long-run goals of price stability and sustainable economic growth.
According to the analysis, pair is expected to find support at 1.00243, and a fall through could take it to the next support level of 1.00104. The pair is expected to find its first resistance at 1.00516, and a rise through could take it to the next resistance level of 1.00650.
USD CHF previous day range was 27.3 and current day range is 17.9.
Technical Overview of EUR/USD, USD/CAD and USD/CHF Currency Pairs
EUR USD
The EUR traded higher against the USD and closed at 1.134.
ECB Executive Board Member Speech can have an impact on the euro depending on the speech rhetoric and hints that analysts can find in the speech. Executive board members vote on interest rate and the monetary policy of the European regulator.
According to the Analysis, The pair is expected to find support at 1.12914, and a fall through could take it to the next support level of 1.12429. The pair is expected to find its first resistance at 1.13711, and a rise through could take it to the next resistance level of 1.14053.
Previous Day range was 81.2 and Current Day Range is 20.1.
USD CAD
The USD traded lower against the CAD and closed at 1.3211.
Federal Open Market Committee (FOMC) Member Speech may contain indications on the possible future changes in the Fed's monetary policy.
Committee members participate in interest rate voting, determine appropriate monetary policy measures and assess the risks to long-run goals of price stability and sustainable economic growth.
The pair is expected to find support at 1.31837, and a fall through could take it to the next support level of 1.31551. The pair is expected to find its first resistance at 1.32591, and a rise through could take it to the next resistance level of 1.33060.
USD CAD previous Day range was 75.4 and Current Day Range is 32.
USD CHF
The USD traded higher against CHF and closed at 1.0007
FOMC Minutes is a detailed report of the Federal Open Market Committee meeting. The meetings are held 8 times a year and focus on the country's economic and financial conditions, monetary policy and Fed interest rates.
The minutes reveal the position of Fed and individual FOMC members concerning the monetary policy and contain data on the interest rate voting: distribution of "for" and "against" votes, as well as the rhetoric of the voting Committee members.
The minutes are published in two weeks after the FOMC meeting. Depending on their content, they can affect USD either positively or negatively.
According to the analysis, pair is expected to find support at 0.99844, and a fall through could take it to the next support level of 0.99622. The pair is expected to find its first resistance at 1.00420, and a rise through could take it to the next resistance level of 1.00762.
USD CHF previous day range was 58.7 and current day range is 13.2.
Technical Overview of EUR/USD,
USD/CAD and GBP/USD Currency Pairs
EUR USD
The EUR traded higher against the USD and closed at 1.1336.
ECB Executive Board Member Speech can have an impact on the euro depending on the speech rhetoric and hints that analysts can find in the speech. Executive board members vote on interest rate and the monetary policy of the European regulator.
According to the Analysis, The pair is expected to find support at 1.13159, and a fall through could take it to the next support level of 1.12983. The pair is expected to find its first resistance at 1.13630, and a rise through could take it to the next resistance level of 1.13897.
Previous Day range was 45.7 and Current Day Range is 18.6.
USD CAD
The USD traded lower against the CAD and closed at 1.3175.
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.
The pair is expected to find support at 1.31448, and a fall through could take it to the next support level of 1.31146. The pair is expected to find its first resistance at 1.32105, and a rise through could take it to the next resistance level of 1.32460.
USD CAD previous Day range was 65.7 and Current Day Range is 25.8.
GBP USD
The GBP traded lower against USD and closed at 1.3048
BoE MPC members are responsible for setting the interest rate and their speeches often contain indications on the future possible direction of monetary policy.
According to the analysis, pair is expected to find support at 1.30038, and a fall through could take it to the next support level of 1.29594. The pair is expected to find its first resistance at 1.30992, and a rise through could take it to the next resistance level of 1.31502.
GBP USD previous day range was 95.4 and current day range is 23.3.
Technical Overview of EUR/USD, USD/CAD and USD/CHF Currency Pairs
EUR USD
The EUR traded lower against the USD and closed at 1.1334.
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.
According to the Analysis, The pair is expected to find support at 1.13156, and a fall through could take it to the next support level of 1.12973. The pair is expected to find its first resistance at 1.13591, and a rise through could take it to the next resistance level of 1.13843.
Previous Day range was 43.5 and Current Day Range is 11.6.
USD CAD
The USD traded higher against the CAD and closed at 1.3231.
Canada Retail Sales m/m show changes in the value of goods sold in retail stores in the specified month compared to the previous month. The indicator is calculated based on statistics from several thousand retail stores, and the data is then extrapolated to the whole country.
The indicator evaluates the consumer activity and inflation. The indicator growth can have a positive effect on CAD quotes.
The pair is expected to find support at 1.31842, and a fall through could take it to the next support level of 1.31377. The pair is expected to find its first resistance at 1.32556, and a rise through could take it to the next resistance level of 1.32805.
USD CAD previous Day range was 71.4 and Current Day Range is 16.6.
USD CHF
The USD traded higher against CHF and closed at 1.0006.
Federal Open Market Committee (FOMC) Member Speech may contain indications on the possible future changes in the Fed's monetary policy.
Committee members participate in interest rate voting, determine appropriate monetary policy measures and assess the risks to long-run goals of price stability and sustainable economic growth.
According to the analysis, pair is expected to find support at 0.99923, and a fall through could take it to the next support level of 0.99786. The pair is expected to find its first resistance at 1.00213, and a rise through could take it to the next resistance level of 1.00366.
USD CHF previous day range was 29 and current day range is 11.7.
Learn Technical Analysis about EUR USD, USD CAD, USD CHF. Two pairs USD CAD, USD CHF look higher then EUR USD.
Technical Overview of NZD/USD,
GBP/USD and USD/CAD Currency Pairs
NZD USD
The NZD traded higher against the USD and closed at 0.6847.
Retail Sales m/m reflect a change in New Zealand's retail sales in the reported month compared to the previous one. The calculation is adjusted for inflation. The index is often referred to as the consumer spending indicator, which allows assessing inflation in New Zealand. The indicator growth can have a positive effect on NZD quotes.
According to the Analysis, The pair is expected to find support at 0.67853, and a fall through could take it to the next support level of 0.67239. The pair is expected to find its first resistance at 0.68806, and a rise through could take it to the next resistance level of 0.69145.
Previous Day range was 95.3 and Current Day Range is 31.1.
GBP USD
The GBP traded higher against the USD and closed at 1.3053.
Bank of England Inflation Report Hearings comprise speeches of the BoE Governor and several Monetary Policy Committee members in the British Parliament. Hearings cover latest inflation an financial stability reports; the MPC members answer questions of Parliament members.
New appointments and new members of the BoE Committees are also discussed at the hearings.
The event may have a short-term impact on GBP quotes.
The pair is expected to find support at 1.29878, and a fall through could take it to the next support level of 1.29231. The pair is expected to find its first resistance at 1.30968, and a rise through could take it to the next resistance level of 1.31411.
GBP USD previous Day range was 10.9 and Current Day Range is 20.8.
USD CAD
The USD traded higher against CAD and closed at 1.3142.
FED Chair Testimony in the Congress or its individual committees (for example, the Joint Economic Committee) describes the current prospects of the US economy and explains Fed's recent actions related to the monetary policy.
The statement consists of two parts: the Fed 's Chair testimony and a series of questions and answers. The second part may have a strong short-term impact on dollar quotes.
According to the analysis, pair is expected to find support at 1.31030, and a fall through could take it to the next support level of 1.30643. The pair is expected to find its first resistance at 1.32111, and a rise through could take it to the next resistance level of 1.32805.
USD CAD previous day range was 108.1 and current day range is 18.2.
Technical Overview of USD/JPY, AUD/USD and USD/CHF Currency Pairs
USD JPY
The USD traded lower against the JPY and closed at 111.051.
Building Permits show the number of permits for the construction of new facilities issued by the government or other regulatory authority for the given month compared to the previous one.
The medium-term state of the real estate market is predicted based on this indicator. Index growth may have a positive effect on dollar quotes.
According to the Analysis, The pair is expected to find support at 110.676, and a fall through could take it to the next support level of 110.301. The pair is expected to find its first resistance at 111.329, and a rise through could take it to the next resistance level of 111.607.
Previous Day range was 6530 and Current Day Range is 3180.
AUD USD
The AUD traded lower against the USD and closed at 0.7165.
Consumer Confidence Index displays the level of consumer confidence in the stability of the country's economy. It is based on the data from the monthly survey of more than 5000 households and is designed to evaluate the relative financial status, purchasing power and confidence of an average consumer. The survey consists of five questions, two of which are associated with the current economic conditions, while three deal with expectations. Since 60% of the survey has to do with expectations, the indicator is considered to be a leading market indicator. The indicator growth assumes an increase in consumer spending.
The pair is expected to find support at 0.71358, and a fall through could take it to the next support level of 0.71061. The pair is expected to find its first resistance at 0.71896, and a rise through could take it to the next resistance level of 0.72137.
AUD USD previous Day range was 53.8 and Current Day Range is 22.5.
USD CHF
The USD traded lower against CHF and closed at 1.0006.
FED Vice Chairman 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.
Among the public statements made by the members of the Fed Board of Governors, the speech of the Vice Chairman is the second most important event after the Chair's speech.
According to the analysis, pair is expected to find support at 0.99887, and a fall through could take it to the next support level of 0.99717. The pair is expected to find its first resistance at 1.00171, and a rise through could take it to the next resistance level of 1.00285.
USD CHF previous day range was 28.4 and current day range is 12.4.
Technical Overview of EUR/USD, NZD/USD and GBP/USD Currency Pairs
EUR USD
The EUR traded lower against the USD and closed at 1.1388.
FED Chair Testimony in the Congress or its individual committees (for example, the Joint Economic Committee) describes the current prospects of the US economy and explains Fed's recent actions related to the monetary policy.
The statement consists of two parts: the Fed 's Chair testimony and a series of questions and answers. The second part may have a strong short-term impact on dollar quotes.
According to the Analysis, The pair is expected to find support at 1.13552, and a fall through could take it to the next support level of 1.13219. The pair is expected to find its first resistance at 1.14119, and a rise through could take it to the next resistance level of 1.14353.
Previous Day range was 56.7 and Current Day Range is 17.1.
NZD USD
The NZD traded higher against the USD and closed at 0.6882.
Pending Home Sales m/m reflect the number of home sales contracts signed in the given month as compared to the previous one.
Since a contract completion takes an average of 6-8 weeks, Pending Home Sales is a leading indicator of the US housing market forecasting final sales for two months in advance.
The indicator growth can have a positive effect on dollar quotes.
The pair is expected to find support at 0.68673, and a fall through could take it to the next support level of 0.68532. The pair is expected to find its first resistance at 0.68991, and a rise through could take it to the next resistance level of 0.69168.
NZD USD previous Day range was 31.8 and Current Day Range is 18.8.
GBP USD
The GBP traded lower against USD and closed at 1.3249.
Markit/CIPS Manufacturing PMI is calculated by Markit together with the Chartered Institute of Procurement & Supply (CIPS). It characterizes the state of the industrial sector.
The index is calculated based on surveys of purchasing managers in the manufacturing sector. The mangers answer a number of questions about the production development, as well as their economic and financial expectations. The survey data is compiled into a leading indicator of overall economic performance.
A reading above 50 indicates growth in the sector and can have a positive effect on the pound quotes.
According to the analysis, pair is expected to find support at 1.31353, and a fall through could take it to the next support level of 1.30218. The pair is expected to find its first resistance at 1.33242, and a rise through could take it to the next resistance level of 1.33996.
GBP USD previous day range was 188.9 and current day range is 19.9.
Technical Overview of USD/CAD,
USD/CHF and USD/JPY Currency Pairs
USD CAD
The USD traded lower against the CAD and closed at 1.3155.
Canada Gross Domestic Product (GDP) m/m is the macroeconomic indicator of the national economy state. It reflects the value of all goods and services produced in all sectors of economy on the territory of Canada. The indicator shows the GDP change in the reported month compared to the previous one.
GDP growth can have a positive effect on CAD quotes.
According to the Analysis, The pair is expected to find support at 1.31231, and a fall through could take it to the next support level of 1.30914. The pair is expected to find its first resistance at 1.31813, and a rise through could take it to the next resistance level of 1.32078.
Previous Day range was 58.2 and Current Day Range is 17.9.
USD CHF
The USD traded lower against the CHF and closed at 1.0013.
Switzerland Gross Domestic Product (GDP) q/q reflects changes in the market value of domestically produced goods and services, in the reported quarter compared to the previous quarter.
The indicator shows GDP calculated using the value-added statistics (i.e. using the so-called production approach). Value added is determined as a difference between the total income and material production costs.
GDP growth can have a positive effect on CHF quotes.
The pair is expected to find support at 0.99786, and a fall through could take it to the next support level of 0.99441. The pair is expected to find its first resistance at 1.00309, and a rise through could take it to the next resistance level of 1.00487.
USD CHF previous Day range was 52.3 and Current Day Range is 26.3.
USD JPY
The USD traded lower against JPY and closed at 110.985.
ISM Manufacturing PMI reflects business conditions in the US manufacturing sector in the specified month. The indicator is based on a survey of representatives from more than 400 companies. Unlike Markit, ISM considers not only private companies but is based on the common NAICS (North American Industrial Classification System) list. The questionnaire considers employment, production level, inventories, new orders and supplier deliveries.
Readings above 50 can have a positive effect on US dollar quotes.
According to the analysis, pair is expected to find support at 110.536, and a fall through could take it to the next support level of 110.086. The pair is expected to find its first resistance at 111.253, and a rise through could take it to the next resistance level of 111.520.
USD JPY previous day range was 7170 and current day range is 1660.
Technical Overview of EUR/USD, AUD/USD and GBP/USD Currency Pairs
EUR USD
The EUR traded lower against the USD and closed at 1.137.
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.
According to the Analysis, The pair is expected to find support at 1.13474, and a fall through could take it to the next support level of 1.13242. The pair is expected to find its first resistance at 1.14065, and a rise through could take it to the next resistance level of 1.14424.
Previous Day range was 59.1 and Current Day Range is 10.8.
AUD USD
The AUD traded higher against the USD and closed at 0.7092.
Jerome H. Powell took office as a member of the Board of Governors of the Federal Reserve System on May 25, 2012, to fill an unexpired term. On November 2, 2017, President Donald Trump nominated Powell to serve as the next Chairman of the Federal Reserve. Powell assumed office as Chair on February 5, 2018.
The pair is expected to find support at 0.70658, and a fall through could take it to the next support level of 0.70398. The pair is expected to find its first resistance at 0.71419, and a rise through could take it to the next resistance level of 0.71920.
AUD USD previous Day range was 76.1 and Current Day Range is 24.2.
GBP USD
The GBP traded little higher against USD and closed at 1.326.
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).
According to the analysis, pair is expected to find support at 1.32355, and a fall through could take it to the next support level of 1.32111. The pair is expected to find its first resistance at 1.33008, and a rise through could take it to the next resistance level of 1.33417.
GBP USD previous day range was 65.3 and current day range is 13.1.
Technical Overview of AUD/USD,
EUR/USD and USD/CAD Currency Pairs
AUD USD
The AUD traded lower against the USD and closed at 0.7083.
Reserve Bank of Australia (RBA) Governor Speech may contain information about the expected change in the bank's interest rates or in the monetary policy.
Australia Gross Domestic Product (GDP) q/q provides a monetary gauge of all goods and services produced in Australia (less the value of goods and services used in production) in the reported quarter compared to the previous one.
The GDP calculation formula includes consumer and government spending, amount of all investments and total net export of the country.
GDP growth can have a positive effect on AUD quotes.
According to the Analysis, The pair is expected to find support at 0.70623, and a fall through could take it to the next support level of 0.70418. The pair is expected to find its first resistance at 0.70996, and a rise through could take it to the next resistance level of 0.71164.
Previous Day range was 37.3 and Current Day Range is 63.2.
EUR USD
The EUR traded higher against the USD and closed at 1.1307.
ADP Nonfarm Employment Change shows the monthly change in 19 manufacturing sectors in the United States. The indicator does not take agriculture into account. The calculation includes data collected from about 400 000 private enterprises.
The indicator characterizes the labor market and industrial sector activity. Employment growth can have a positive effect on dollar quotes.
The pair is expected to find support at 1.12849, and a fall through could take it to the next support level of 1.12624. The pair is expected to find its first resistance at 1.13347, and a rise through could take it to the next resistance level of 1.13620.
EUR USD previous Day range was 49.8 and Current Day Range is 17.5.
USD CAD
The USD traded little higher against CAD and closed at 1.3349.
Canada Ivey Purchasing Managers Index (PMI) shows economic activity in the past month calculated by the Ivey School of Business.
The indicator is calculated based on a survey of purchasing managers in the private and public sector companies. The survey involves representatives of 175 companies selected in view of their field of activity and geographical location. Respondents answer questions about whether purchases, employment, supplies and prices in their sector have become better, worse or has not changed over the reported month.
Survey results are seasonally adjusted.
A reading above 50 indicates that the economic activity is expanding, a reading below 50 suggests the economy is in contraction. The index growth can have a positive effect on CAD quotes.
Bank of Canada announces its decisions on interest rate eight times a year. It is one of the key events influencing the Canadian dollar quotes. The decision is made depending on the current economic conditions and financial outlook in the country.
Changes in the interest lead to a short-term volatility of the Canadian dollar. An increase in the interest rate is seen as positive for the national currency.
According to the analysis, pair is expected to find support at 1.33134, and a fall through could take it to the next support level of 1.32778. The pair is expected to find its first resistance at 1.33723, and a rise through could take it to the next resistance level of 1.33956.
USD CAD previous day range was 58.9 and current day range is 25.
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 -
- Will the UK accept the EU's withdrawal agreement
- Will the UK rule out leaving with no deal
- 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 USD/JPY,
AUD/USD and USD/CHF Currency Pairs
USD JPY
The USD traded higher against the JPY and closed at 111.137.
BoJ Interest Rate Decision is made 8 times a year. The regulator's interest rate is used to provide loans to commercial banks. Establishing an interest rate is one of the main tools of the monetary policy used by the Bank of Japan to regulate the strength of its currency.
Interest rate growth can have a positive impact on yen quotes.
According to the Analysis, Four hour chart shows that the pair is expected to find support at 110.941, and a fall through could take it to the next support level of 110.746. The pair is expected to find its first resistance at 111.396, and a rise through could take it to the next resistance level of 111.656.
Previous Day range was 4550 and Current Day Range is 4850.
AUD USD
The AUD traded lower against the USD and closed at 0.7093.
The New Home Sales indicator reflects sales of newly constructed residences in the United States in the specified month. It measures new single-family home sales.
The indicator is used for measuring the US housing market conditions. Index growth may have a positive effect on dollar quotes.
The pair is expected to find support at 0.70621, and a fall through could take it to the next support level of 0.70310. The pair is expected to find its first resistance at 0.71110, and a rise through could take it to the next resistance level of 0.71288.
AUD USD previous Day range was 48.9 and Current Day Range is 35.1.
USD CHF
The USD traded little higher against CHF and closed at 1.0036.
According to the analysis, pair is expected to find support at 1.00136, and a fall through could take it to the next support level of 0.99908. The pair is expected to find its first resistance at 1.00719, and a rise through could take it to the next resistance level of 1.01074.
USD CHF previous day range was 58.3 and current day range is 15.4.
Technical Overview of GBP/USD, NZD/USD and USD/JPY Currency Pairs
GBP USD
The GBP traded higher against the USD and closed at 1.3239.
The Michigan Consumer Sentiment Index released by the University of Michigan is a survey of personal consumer confidence in economic activity. It shows a picture of whether or not consumers are willing to spend money. Generally speaking, a high reading anticipates positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.31853, and a fall through could take it to the next support level of 1.31319. The pair is expected to find its first resistance at 1.33140, and a rise through could take it to the next resistance level of 1.33893.
Previous Day range was 128.7 and Current Day Range is 49.9.
NZD USD
The NZD traded higher against the USD and closed at 0.6817.
BusinessNZ Performance of Manufacturing Index (PMI) is compiled based on a monthly survey. It serves as a leading indicator of New Zealand's manufacturing sector activity.
The pair is expected to find support at 0.67951, and a fall through could take it to the next support level of 0.67735. The pair is expected to find its first resistance at 0.68518, and a rise through could take it to the next resistance level of 0.68869.
NZD USD previous Day range was 56.7 and Current Day Range is 30.3.
USD JPY
The USD traded little lower against JPY and closed at 111.693.
BoJ Interest Rate Decision is made 8 times a year. The regulator's interest rate is used to provide loans to commercial banks. Establishing an interest rate is one of the main tools of the monetary policy used by the Bank of Japan to regulate the strength of its currency.
Interest rate growth can have a positive impact on yen quotes.
According to the analysis, pair is expected to find support at 111.274, and a fall through could take it to the next support level of 110.855. The pair is expected to find its first resistance at 111.971, and a rise through could take it to the next resistance level of 112.249.
USD JPY previous day range was 6970 and current day range is 4020.
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 AUD/USD,
USD/JPY and GBP/USD Currency Pairs
AUD USD
The AUD traded higher against the USD and closed at 0.7102.
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, Four hour chart shows that the pair is expected to find support at 0.70803, and a fall through could take it to the next support level of 0.70583. The pair is expected to find its first resistance at 0.71218, and a rise through could take it to the next resistance level of 0.71413.
Previous Day range was 41.5 and Current Day Range is 21.6.
USD JPY
The USD traded lower against the JPY and closed at 111.425.
The Bank of Japan publishes a study of economic movements in Japan after the actual meeting. These meetings are held to review economic developments inside and outside of Japan and indicate a sign of new fiscal policy. Any changes in this report tend to affect the JPY volatility.
Generally speaking, if the BoJ minutes show a hawkish outlook, that is seen as positive (or bullish) for the JPY, while a dovish outlook is seen as negative (or bearish).
The pair is expected to find support at 111.274, and a fall through could take it to the next support level of 111.123. The pair is expected to find its first resistance at 111.601, and a rise through could take it to the next resistance level of 111.777.
USD JPY previous Day range was 3270 and Current Day Range is 2850.
GBP USD
The GBP traded higher against USD and closed at 1.3252.
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 1.31909, and a fall through could take it to the next support level of 1.31299. The pair is expected to find its first resistance at 1.33056, and a rise through could take it to the next resistance level of 1.33593.
GBP USD previous day range was 114.7 and current day range is 37.3.
Technical Overview of EUR/USD,
USD/CHF and NZD/USD Currency Pairs
EUR USD
The EUR traded lower against the USD and closed at 1.1351.
This report, released by Federal Reserve, includes the FOMC's projection for inflation and economic growth over the next 2 years and, more importantly, a breakdown of individual FOMC member's interest rate forecasts.
According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.13357, and a fall through could take it to the next support level of 1.13202. The pair is expected to find its first resistance at 1.13639, and a rise through could take it to the next resistance level of 1.13766.
Previous Day range was 28.2 and Current Day Range is 13.9.
USD CHF
The USD traded higher against the CHF and closed at 0.9991.
Following the Fed's rate decision, the FOMC releases its statement regarding monetary policy. The statement may influence the volatility of USD and determine a short-term positive or negative trend. A hawkish view is considered as positive, or bullish for the USD, whereas a dovish view is considered as negative, or bearish.
The pair is expected to find support at 0.99791, and a fall through could take it to the next support level of 0.99668. The pair is expected to find its first resistance at 1.00092, and a rise through could take it to the next resistance level of 1.00270.
USD CHF previous Day range was 30.1 and Current Day Range is 13.8.
NZD USD
The NZD traded lower against USD and closed at 0.6853.
The Gross Domestic Product released by the Statistics New Zealand is a measure of the total value of all goods and services produced by New Zealand. The GDP is considered as a broad measure of New Zealand economic activity and health. Generally speaking, a high reading is seen as positive (or bullish) for the NZD, while a falling trend is seen as negative (or bearish) for the NZD.
According to the analysis, pair is expected to find support at 0.68389, and a fall through could take it to the next support level of 0.68245. The pair is expected to find its first resistance at 0.68694, and a rise through could take it to the next resistance level of 0.68855.
NZD USD previous day range was 30.5 and current day range is 28.
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 EUR/USD, GBP/USD and USD/CHF Currency Pairs
EUR USD
The EUR traded Higher against the USD and closed at 1.122.
The New Home Sales indicator reflects sales of newly constructed residences in the United States in the specified month. It measures new single-family home sales.
The indicator is used for measuring the US housing market conditions. Index growth may have a positive effect on dollar quotes.
According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.12023, and a fall through could take it to the next support level of 1.11848. The pair is expected to find its first resistance at 1.12492, and a rise through could take it to the next resistance level of 1.12786.
Previous Day range was 46.9 and Current Day Range is 16.3.
GBP USD
The GBP traded higher against the USD and closed at 1.304.
United Kingdom Gross Domestic Product q/q is the key indicator of the national economy growth. The index shows changes in the market value of goods and services produced in the country in the given quarter compared to the previous quarter. The GDP is calculated using statistical information (using national economic indicators), forecast models and expert evaluations.
GDP growth can be seen as positive for the pound sterling.
The pair is expected to find support at 1.29794, and a fall through could take it to the next support level of 1.29186. The pair is expected to find its first resistance at 1.31551, and a rise through could take it to the next resistance level of 1.32700.
GBP USD previous Day range was 175.7 and Current Day Range is 34.8.
USD CHF
The USD traded higher against CHF and closed at 0.9956.
According to the analysis, pair is expected to find support at 0.99365, and a fall through could take it to the next support level of 0.99169. The pair is expected to find its first resistance at 0.99744, and a rise through could take it to the next resistance level of 0.99927.
USD CHF previous day range was 37.9 and current day range is 15.7.
Technical Overview of AUD/USD,
USD/JPY and NZD/USD Currency Pairs
AUD USD
The AUD traded lower against the USD and closed at 0.7111.
Decisions regarding this interest rate are made by the Reserve Bank Board, and are explained in a media release which announces the decision at 2.30 pm after each Board meeting.
RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.
According to the Analysis, The pair is expected to find support at 0.70994, and a fall through could take it to the next support level of 0.70874. The pair is expected to find its first resistance at 0.71275, and a rise through could take it to the next resistance level of 0.71436.
Previous Day range was 28.1 and Current Day Range is 47.5.
USD JPY
The USD traded higher against the JPY and closed at 111.342.
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 110.967, and a fall through could take it to the next support level of 110.593. The pair is expected to find its first resistance at 111.577, and a rise through could take it to the next resistance level of 111.813.
USD JPY previous Day range was 6100 and Current Day Range is 1640.
NZD USD
The NZD traded lower against USD and closed at 0.6805.
According to the analysis, pair is expected to find support at 0.67931, and a fall through could take it to the next support level of 0.67815. The pair is expected to find its first resistance at 0.68267, and a rise through could take it to the next resistance level of 0.68487.
NZD USD previous day range was 33.6 and current day range is 27.5.
Technical Overview of USD/CHF,
AUD/USD and USD/JPY Currency Pairs
USD CHF
The USD traded lower against the CHF and closed at 0.9981.
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 0.99606, and a fall through could take it to the next support level of 0.99400. The pair is expected to find its first resistance at 0.99946, and a rise through could take it to the next resistance level of 1.00080.
Previous Day range was 34 and Current Day Range is 16.6.
AUD USD
The AUD traded higher against the USD and closed at 0.7112.
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 0.70675, and a fall through could take it to the next support level of 0.70231. The pair is expected to find its first resistance at 0.71428, and a rise through could take it to the next resistance level of 0.71737.
AUD USD previous Day range was 75.3 and Current Day Range is 17.8.
USD JPY
The USD traded lower against JPY and closed at 111.482.
According to the analysis, pair is expected to find support at 111.271, and a fall through could take it to the next support level of 111.060. The pair is expected to find its first resistance at 111.632, and a rise through could take it to the next resistance level of 111.782.
USD JPY previous day range was 3610 and current day range is 1630.
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.
Gold Prices moves around $1300 as Bulls concentrates on Geopolitics
The news reports signaling the US-EU trade rift and likely renewed geopolitical tensions between the US and Saudi Arabia triggered risk-off.
Buyers target 50-day SMA during further upside.
Gold prices are taking the rounds near $1297 early on Tuesday as investors give more emphasis to the latest news reports signaling an increase in global geopolitical tension.
According to the analysis XAUUSD.x pair is expected to find support at 1291.14 and a fall through could take it to the next support level of 1285.14. The pair is expected to find its first resistance at 1303.41, and a rise through could take it to the next resistance level of 1309.68.
Previous Day range was 12.27 and Current Day Range is 34800.
The yellow metal rose to a two-week high on Monday as conflict in Libya and the US President’s another hit to Iran grabbed market concentration. Headlines regarding the Libyan National Army’s March to obtain the capital Tripoli and Donald Trump declaring Iran's revolutionary guard as a terrorist organization helped the Gold to remain strong yesterday.
During early Tuesday, investors welcomed the development from the UK that favored an amendment rejecting no-deal Brexit.
However, the hopefulness couldn’t last long after the Financial Times reported that the US is proposing tariffs worth $11 billion on the EU products, as well as the Airbus.
The risk-off sentiment got supplementary support when the Trump administration announced a ban on 16 Saudi nationals from entering the U.S. due to their roles in the murder of journalist Jamal Khashoggi. Saudi Arabia is still to respond to the ban and may generate news reports during the day.
Yields on the US 10-year note remained unchanged near 2.519%.
Investors may now concentrate more on the qualitative catalysts like Brexit and the geopolitical plays including the US.
Visit:- https://xtreamforex.com/academy/gold-prices-moves-around-1300-as-bulls-concentrates-on-geopolitics/
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 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.