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Daily Forex News 2 months 1 week ago #3904

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Technical Overview of GBP/USD, AUD/USD and USD/CHF Currency Pairs

GBP USD

The GBP traded higher against the USD and closed at 1.3149.

• GBP/USD struggles to hold recent strength as it trades near 1.3220 ahead of London open on Tuesday.
• The pair rose to 1.3290 during early-day increase after Brexit optimists welcomed the meeting between the UK PM Theresa May and the EU Commission Chief Jean-Claude Juncker.

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

Nothing is more important this week than the Brexit votes on Tuesday, Wednesday and possibly also Thursday. There's no exact time for the vote but it will be after the debates, which usually end evening time in the UK. That puts a vote somewhere after 18/19 GMT or 2pm/3pm NY time. It could be even later but it shouldn't be earlier than 18 GMT. This week's vote will determine 3 things -
1. Will the UK accept the EU's withdrawal agreement
2. Will the UK rule out leaving with no deal
3. Will Article 50 be extended?
According to the Analysis, The pair is expected to find support at 1.30160, and a fall through could take it to the next support level of 1.28829. The pair is expected to find its first resistance at 1.32251, and a rise through could take it to the next resistance level of 1.33011.

Previous Day range was 209.1 and Current Day Range is 139.3.

AUD USD

The AUD traded higher against the USD and closed at 0.7068.

FED Chair Speech affects USD depending on the speech rhetoric. If the speech is seen as an intention to raise the rates at the next FOMC meeting, this has a positive impact on USD and vice versa.

The FED Chair's statements have the greatest impact on the market compared to other members of the FED Board of Governors.

The pair is expected to find support at 0.70375, and a fall through could take it to the next support level of 0.70069. The pair is expected to find its first resistance at 0.70876, and a rise through could take it to the next resistance level of 0.71071.
AUD USD previous Day range was 50.1 and Current Day Range is 22.8.

USD CHF

The USD traded little higher against CHF and closed at 1.0105.

According to the analysis, pair is expected to find support at 1.00768, and a fall through could take it to the next support level of 1.00483. The pair is expected to find its first resistance at 1.01266, and a rise through could take it to the next resistance level of 1.01479.

USD CHF previous day range was 49.8 and current day range is 14.

Daily Forex News 2 months 1 week ago #3905

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.

Daily Forex News 2 months 1 week ago #3906

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.

Daily Forex News 2 months 1 week ago #3907

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.

Daily Forex News 2 months 1 week ago #3908

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.
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