Daily Forex News
#21
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!
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#22
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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.

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#23
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!
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#24
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!
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#25
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!
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#26
Technical Overview of EUR/USD, AUD/USD and USD/JPY Currency Pair


EUR USD

EUR traded lower against USD and closed at 1.1169.

EUR/USD's may have a hard time extending preceding three week's rally, courtesy of warning Brexit optimism. The common currency may face selling pressure if the European Union announces retaliatory tariffs on imports from the US.

According to the Analysis, pair is expected to find support at 1.1150 and a fall through could take it to the next support level of 1.1146. The pair is expected to find its first resistance at 1.1164 and a rise through could take it to the next resistance level of 1.1168.

AUD USD

AUD traded higher against USD and closed at 0.6855

•          AUD/USD remains buoyant in Asia as hopes recede of an early RBA rate cut
•          Bolstered by last week's upbeat AU jobs data, increasingly gloomy US data
•          Australia home prices keep rising as auctions heat up in boost for economy
•          Chance of Nov rate cut pared back to just 17% compared to 34% a week ago

According to the Analysis, pair is expected to find support at 0.6842 and a fall through could take it to the next support level of 0.6839. The pair is expected to find its first resistance at 0.6854, and a rise through could take it to the next resistance level of 0.6857.

USD JPY

USD traded higher against JPY and closed at 108.42

Although 200-day SMA becomes the key upside for USD/JPY, the quote refrains from further declines while taking rounds to 108.50 during early Monday. The pair is seesaws around four day low.

According to the Analysis, pair is expected to find support at 108.32 and a fall through could take it to the next support level of 108.27. The pair is expected to find its first resistance at 108.50, and a rise through could take it to the next resistance level of 108.55.

For more information: https://xtreamforex.com/
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#27
Technical Overview of USD/CAD and EUR/USD Currency Pair


USD CAD

USD traded lower against CAD and closed at 1.3048.

USD/CAD is trimming gains on reports calling a victory for Canada's PM Trudeau. The pair may come under pressure if Trudeau forms a minority government with NDP's support.

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.

Canada Core Retail Sales m/m reflects the change in retail sales in the reported month compared to the previous one. The indicator is calculated based on statistics from retail stores of different types and sizes. The index calculation does not include sales of autos and spare parts.

Retails Sales are an indicator of consumer activity in Canada, and an important component of national GDP. The indicator growth can have a positive effect on CAD quotes.

According to the Analysis, pair is expected to find support at 1.3077 and a fall through could take it to the next support level of 1.3063. The pair is expected to find its first resistance at 1.3123 and a rise through could take it to the next resistance level of 1.3137.

EUR USD

EUR traded higher against USD and closed at 1.1148.
·        Positive risk extends in Asia, E-mini S&P +0.1% and AsiaxJP stocks +0.3%
·        Flat in a low key 1.1147/1.1156 range - fundamentals unchanged look to techs
·        Charts - daily momentum studies, 5, 10 & 21 MAs head higher - bullish setup
·        Sustained cloud break, 1st since July - 1.1104 horizontal cloud top supports

According to the Analysis, pair is expected to find support at 1.1142 and a fall through could take it to the next support level of 1.1132. The pair is expected to find its first resistance at 1.1172, and a rise through could take it to the next resistance level of 1.1182.

Important Economic Events of the Day

·        CAD: Retail Sales m/m
·        CAD: Core Retail Sales m/m
·        USD: Existing Home Sales

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