|Day's Range||0.932 - 0.941|
|52 Week Range||0.9189 - 1.0169|
EURUSD’s recent pullback from 1.2553 seems all set to re-test the two-month old ascending trend-line support of 1.2285, breaking which an intermediate TL figure of 1.2220, together with oversold RSI, might try restricting its follow-on downside. If the pair refrains to respect the 1.2220 level, the 1.2160 and the 1.2100 are likely consecutive stops that it can avail prior to resting on the 1.2085-80 horizontal-line. On the upside, the 1.2415, the 1.2455 and the 1.2520 may entertain short-term buyers before making them confront the latest high around 1.2555. ...
Having breached 107.00 and the 106.70 support-marks, the USDJPY seems all set to test an upward slanting trend-line support on the weekly chart, which stays around 106.00 now; however, its further south-run can be restricting by a downward slanting TL support of 105.50, which if broken could enable Bears to demand 104.20 and the 102.80 numbers. Meanwhile, an upside break of 106.70 and the 107.00 could trigger the pair’s recovery in direction to 108.00, the 108.50 and then to the 108.80 resistances. Should prices manage to rise beyond 108.80, the 109.50 and the 110.20 may please the buyers. ...
Investing.com - The dollar was little changed against a basket of the other major currencies on Friday but recorded its strongest week in almost 15 months after a turbulent week in stock and bond markets around the world.
Investing.com - The Commodity Futures Trading Commission released its weekly Commitments of Traders report for the week ending February 6 on Friday.
Looking at the USDCHF’s bounce-off the resistance-turned-support, coupled with immediate ascending TL, the pair seems capable enough to aim for 0.9420-25 area; however, its following upside might be restricted by the 0.9465-70 horizontal-line. Should the pair manage to surpass the 0.9470, the 0.9500 and the 0.9550 are likely consecutive resistances to appear on the chart. Meanwhile, the 0.9365 and the 0.9330 may become nearby supports for the pair to clear before it can target 0.9300 round-figure during its further downside. Given the pair’s sustained declines beneath 0.9300, the 0.9280, the ...
Notwithstanding the RBNZ’s dovish outcome, the NZDUSD is still left to close below the 0.7205–0.7195 horizontal-region, which if remains unbroken could trigger the pair’s U-turn towards 0.7235 and then to the 0.7280 nearby resistances. Alike NZDUSD, the AUDNZD also struggles with 200-day SMA, which is around 1.0845 in this case. Given the pair prints a D1 close beyond 1.0845 and sustains the up-move then after, the 1.0910 and the 50-day SMA level of 1.0950 are expected immediate resistances to watch.
During its gradual recovery from 108.50, the USDJPY now aims to confront the 109.75-80 resistance-confluence, which if broken could trigger the pair’s upward trajectory towards 110.30 and then to the 110.50. Should prices continue rising beyond 110.50, the 111.00 and the 111.35 are likely numbers to appear on the chart. In case if the pair fails to surpass the 109.80, it can come back to 109.40 and to the 109.00 nearby supports prior to revisiting the 108.50 rest-point. Moreover, pair’s sustained trading below 108.50 makes it weaker enough to test 108.25 and the 61.8% FE level of 107.90. ...
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.15% to 88.89 by 11:57 AM ET (16:57 GMT), not far from last week’s low of 88.25, its weakest level since December 2014. A faster rate of monetary tightening outside the U.S. would lessen the divergence between the Federal Reserve and other central banks. The Federal Open Market Committee ends its two day meeting today but is not expected to make any changes to monetary policy.
Investing.com - The U.S. dollar remained broadly lower against other major currencies on Wednesday, as investors remained cautious ahead of the Federal Reserve's monthly policy decision due later in the day.
Investing.com - The U.S. dollar erased gains against other major currencies on Tuesday, as investors were cautious ahead of the U.S. State of the Union speech due later in the day and the Federal Reserve's monthly policy decision on Wednesday.
By Stephanie Kelly NEW YORK (Reuters) - The dollar rose on Monday against a basket of currencies as U.S. bond yields climbed and traders waited for a Federal Reserve meeting and a U.S. jobs report later in the week, while the euro and pound were both down. Against a basket of currencies, the dollar index rose 0.28 percent to 89.319 as of 3:41 p.m. ET (2041 GMT). "At the end of the day, we've got a fairly eventful week, and it's a slow start to an eventful week where consolidation is a primary driver for FX flows," said Kathy Lien, managing director for BK Asset Management in New York.
Investing.com - The U.S. dollar held onto modest gains against other major currencies on Monday, but gains were expected to remain limited amid concerns over the U.S. administration's currency policy.
Following its break of longer-term ascending trend-line on Wednesday, the USDCHF now trades beneath the 0.9440-20 horizontal-support, which in-turn gives rise to probabilities of the pair’s extended south-run to the 0.9350, the 0.9290 and then to the 0.9255-50 rest-points. Given the quote’s additional downturn below 0.9250, it becomes vulnerable to revisit the 0.9150, the 0.9110 and the 0.9000 psychological-magnet. Should the pair fail to provide a weekly closing below 0.9420, the 0.9440 and the TL support-turned-resistance, at 0.9490, gain buyers’ attention, breaking which 0.9530 and the 0. ...
Considering the strength of three-month old descending trend-channel’s support, coupled with oversold RSI, the USDCHF’s latest U-turn from 0.9665 might find it hard to stretch its decline beneath the 0.9560 rest-point. However, break of 0.9560 can quickly trigger the pair’s south-run towards 0.9525 and then to the 0.9500 support-marks, which if broken could further fetch the quote to September 2017 low around 0.9420. Meanwhile, an upside break above 0.9665 can help the quote to flash 0.9700 and the 0.9750 on the chart before confronting the 100-day SMA level of 0.9790. ...
Investing.com - The Commodity Futures Trading Commission released its weekly Commitments of Traders report for the week ending January 9 on Friday.
Switzerland's retail sector is expected to partially recover in 2018 due to a buoyant Swiss economy, which has largely overcome problems triggered by a strong franc following the scrapping in 2015 of a central bank cap against the euro. Swiss shoppers who flocked to neighbouring Germany, France and Italy to pick up bargains are expected to spend more money at home and sales by the country's retailers are forecast to rise by 0.3 percent this year, Credit Suisse said on Tuesday. Although Switzerland's retail market is relatively small at around 90 billion Swiss francs (67.72 billion pounds) per year, it is an important market for luxury brands in particular.
Following its failure to surpass the 1.2080-90 region, the EURUSD dropped below an immediate ascending trend-line, which in-turn dragged the pair towards conquering the 1.1960-55 horizontal-support. As a result, the pair’s further downside in direction to 1.1910 and then to the 1.1850 become more likely; however, two-month old upward slanting TL, at 1.1825, might confine the quote’s additional declines, failing to which can quickly flash 1.1800 and the 1.1760 numbers on the chart. Meanwhile, the 1.1980 could restrict the pair’s pullback from present levels, breaking which the 1.2000 and the 1. ...
Investing.com - The Commodity Futures Trading Commission released its weekly Commitments of Traders report for the week ending December 26 on Friday.
Having cleared a month-old descending trend-line resistance, the GBPUSD seems all set to meet the 1.3520 number; however, it’s following advances might find it hard to surpass the 1.3540-50 region, which if broken could quickly propel the quote towards 61.8% FE level of 1.3615. In case if overbought RSI drags the pair to south, the 1.3455, the 1.3425 and the 1.3400 are likely nearby supports to appear on the chart while an upward slanting TL support, at 1.3360, could restrict its declines then after. Should sellers refrain to respect the 1.3360, the 1.3330 and the 1. ...
The Euro has been able to achieve noteworthy gains the past two days against the U.S Dollar, but trading volumes remain light and strong resistance looms ahead.
The USD is weaker against all the majors today, continuing the pressure from yesterday. End of year liquidity is light and many of the themes from earlier in the month are reversing.
First one is Cable, GBPUSD, where the price is pushing higher. Actually, the upper line of the wedge is already broken so the buy signal is around the corner. Next one is an exotic instrument – CADCHF, which is also in an uptrend and is now breaking the upper line of the correction pattern.
Good morning, traders, we hope you have had great Christmas, but now it’s time for another edition of the Support and Resistance Level Report.