Daily Forex News
#13
Technical Overview of EUR/CNY, USD/JPY and USD/CAD Currency Pair


EUR CNY

EUR traded higher against CNY and closed at 7.9029.

The core Consumer Price Index released by Eurostat is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services excluding the volatile components like food, energy, alcohol and tobacco. The core CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive or bullish for the EUR, while a low reading is seen as negative.
 
The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. Generally, a high reading anticipates a hawkish attitude which will be positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).
 
The Caixin China Manufacturing PMI™, released by Market Economics, is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private manufacturing sector companies.
                                      
According to the Analysis, pair is expected to find support at 7.881 and a fall through could take it to the next support level of 7.860. The pair is expected to find its first resistance at 7.934 and a rise through could take it to the next resistance level of 7.967.

USD JPY

USD traded lower against JPY and closed at 106.5200.

Retail Sales m/m show the total volume of retail sales of goods and services in the past month compared with the previous one. This is a highly volatile indicator, it is seasonally adjusted.
The index allows evaluating consumer spending which is an important indicator of the national inflation.
The indicator growth can have a positive effect on yen quotes.

According to the Analysis, pair is expected to find support at 105.55 and a fall through could take it to the next support level of 105.33. The pair is expected to find its first resistance at 106.03, and a rise through could take it to the next resistance level of 106.29.

USD CAD

USD traded higher against CAD and closed at 1.3287.
 
The Gross Domestic Product released by the Statistics Canada is a measure of the total value of all goods and services produced by Canada. The GDP is considered as a broad measure of Canadian economic activity and health. A rising trend has a positive effect on the CAD, while a falling trend is seen as negative (or bearish) for the CAD.

According to the Analysis, pair is expected to find support at 1.3239 and a fall through could take it to the next support level of 1.3194. The pair is expected to find its first resistance at 1.3315, and a rise through could take it to the next resistance level of 1.3346.
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Daily Forex News - by xtreamforex - 02-14-2019, 11:05 AM
Re: Daily Forex News - by xtreamforex - 04-22-2019, 09:56 AM
RE: Daily Forex News - by xtreamforex - 04-23-2019, 12:19 PM
RE: Daily Forex News - by xtreamforex - 08-05-2019, 06:31 AM
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RE: Daily Forex News - by xtreamforex - 08-09-2019, 06:21 AM
RE: Daily Forex News - by xtreamforex - 08-14-2019, 06:07 AM
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RE: Daily Forex News - by xtreamforex - 08-20-2019, 06:00 AM
RE: Daily Forex News - by xtreamforex - 08-27-2019, 07:27 AM
RE: Daily Forex News - by xtreamforex - 08-28-2019, 06:33 AM
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RE: Daily Forex News - by xtreamforex - 09-26-2019, 09:17 AM
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RE: Daily Forex News - by xtreamforex - 09-30-2019, 09:08 AM
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