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  1. #21
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    XtreamForex.com
    Technical Overview of EUR/USD and USD/JPY Currency Pair

    EUR USD


    EUR traded higher against USD and closed at 1.1021
    • Early bounce on US data gives some relief to longs
    • Pair heavy on safe haven flows but holds above 61.8 Fib of 1.0879-1.1180
    • Daily RSI diverges & bull hammer forms, daily techs warn shorts
    • Monthly RSI still falling, says downside momentum could resume
    • Global growth concerns, soured risk could sink EUR/USD

    According to the Analysis, pair is expected to find support at 1.1010 and a fall through could take it to the next support level of 1.0972. The pair is expected to find its first resistance at 1.1132 and a rise through could take it to the next resistance level of 1.1170.

    USD JPY

    USD traded higher against JPY and closed at 108.39.

    • USD/JPY's breaks key props at 108.50 , close is key
    • IMM USD/JPY specs long largely above 108 are at risk on 107.89/99 break
    • Treasury yields sliding faster than JGBs, '20 Fed cuts pricing back in
    • USD/JPY's topping formation reinforced by AUD/JPY's reversal
    • Risk flows could change on a dime if trade deal gets completed, signed

    According to the Analysis, pair is expected to find support at 108.57 and a fall through could take it to the next support level of 108.56. The pair is expected to find its first resistance at 108.59, and a rise through could take it to the next resistance level of 108.60.

    Important Economic Events of the Week (11 Nov, 19 to 15 Nov, 19)
    • USD: Retail Sales m/m
    • GBP: Retail Sales m/m
    • NZD: Electronic Card Retail Sales m/m
    For More information about the release time of news and its impact visit Economic Calendar Page!

  2. #22
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    Technical Overview of AUD/USD and GBP/USD Currency Pair

    AUD USD


    AUD traded higher against USD and closed at 0.6784

    • Flat in a quiet tight 0.6785/0.6795 range as options contain
    • 0.6785-95 1.1BLN and 0.6900 500M strikes dominated in Asia
    • Risk bounce in Asia after a soft week, Nikkei +0.6%, AsiaxJP +0.3%
    • Charts - momentum studies, 5, 10 & 21 DMAs head south - bearish setup
    • Dip recently stalled at 0.6769, which remains pivotal and vulnerable
    • NY 0.6783 low and earlier 0.6795 high initial support and resistance

    According to the Analysis, pair is expected to find support at 0.6786 and a fall through could take it to the next support level of 0.6785. The pair is expected to find its first resistance at 0.6788 and a rise through could take it to the next resistance level of 0.6789.

    GBP USD

    GBP traded higher against USD and closed at 1.2913.

    • Cable saw steady interest and trades +0.1% in a 1.2903/1.2921 range
    • Conservatives to raise property purchase tax for non-UK residents
    • A revenue raiser that will be popular with UK voters
    • FT's poll tracker, Conservatives hot favorites, +13pts from +11 over Labour
    • Charts - 5, 10 & 21 DMAs gently edge higher - modest topside bias
    • Six week 1.2770/1.3012 range looks set to extend unless the USD trends

    According to the Analysis, pair is expected to find support at 1.2917 and a fall through could take it to the next support level of 1.2916. The pair is expected to find its first resistance at 1.2923, and a rise through could take it to the next resistance level of 1.2924.

    Important Economic Events of the Week (18 Nov, 19 to 24 Nov, 19)
    • CAD: Core Retail Sales m/m
    • EUR: ECB President Lagarde Speech
    • EUR: GDP q/q
    • SGD: GDP q/q
    • USD: EIA Crude Oil Stocks Change

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

  3. #23
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    Default Technical Overview of AUD/USD and NZD/USD Currency Pair

    AUD USD

    AUD traded higher against USD and closed at 0.6777.

    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.

    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.

    The Aussie dollar, a G-7 proxy for China, is not impressed by reports of US-China trade talks gaining momentum. AUD/USD failed to take out key average hurdle despite renewed trade optimism. RBA's Debelle said slower wage growth is a new norm in Australia.

    According to the Analysis, pair is expected to find support at 0.6769 and a fall through could take it to the next support level of 0.6761. The pair is expected to find its first resistance at 0.6793 and a rise through could take it to the next resistance level of 0.6801.

    NZD USD

    NZD traded higher against USD and closed at 0.6416.

    Retail Sales m/m reflects 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.

    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.

    • NZD/USD is facing pullback risks after multiple failures at the 100-day MA hurdle.
    • A close above the key average will likely invite stronger buying pressures.

    According to the Analysis, pair is expected to find support at 0.6400 and a fall through could take it to the next support level of 0.6392. The pair is expected to find its first resistance at 0.6426, and a rise through could take it to the next resistance level of 0.6434.

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

  4. #24
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    Default Technical Overview of GBP/USD and USD/JPY Currency Pair

    GBP USD

    GBP traded higher against USD and closed at 1.3155.

    • Flat in a 1.3153/1.3161 range, but decent interest once Asia fully opened
    • EUR/GBP saw modest volumes with a very tight 0.8438/0.8341 range
    • Conservative election victory expectations attracted fresh demand this week
    • Initial significant resistance at 1.3168/90, 50% 2018/19 fall and May high
    • 1.3168 capped in NY, but is under pressure - strong resistance into 1.3200
    • Close above 1.3200 would be a strong positive into the election next week
    • Sustained 1.3200 break would open the door to the 1.3380 2019 high in March
    • Close below the prior 1.3000 range high needed to undermine topside bias

    According to the Analysis, pair is expected to find support at 1.3120 and a fall through could take it to the next support level of 1.3105. The pair is expected to find its first resistance at 1.3166 and a rise through could take it to the next resistance level of 1.3181.

    USD JPY

    USD traded lower against JPY and closed at 108.75.

    USD/JPY's CTA positioning and notes that it's mainly close to neutral and sidelined around current levels.
    "CTAs having held back on going long in the USD/JPY market (buying USD and selling yen) during the recent risk-on phase, they have managed to avoid simultaneous stock selling and yen buying.

    CTAs' USD/JPY positions are close to neutral at present, and they are not currently moving either to buy or to sell.

    "With the latent risk of yen appreciation being suppressed, if fundamentals-oriented investors begin tentatively dip-buying below 23,000, this downward move by the Nikkei 225 could be brought to a close relatively soon.

    According to the Analysis, pair is expected to find support at 108.66 and a fall through could take it to the next support level of 108.58. The pair is expected to find its first resistance at 108.92, and a rise through could take it to the next resistance level of 109.00.

    Important Economic Events of the day

    • JPY: Household Spending y/y
    • USD: Nonfarm Payrolls
    • USD: Baker Hughes US Oil Rig Count
    • CAD: Employment Change

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

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