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  1. #241
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    Daily Market News by Xtreamforex.com
    Technical Overview of USD/JPY,EUR/USD and AUD/USD Currency Pairs

    USD JPY

    The USD traded lower against the JPY and closed at 111.709.

    BOJ Governor Speech is an event having the greatest impact on JPY among all public statements made by the Japanese regulator. The Governor's rhetoric reflects the official position of the Bank of Japan.

    If some hints at tightening the monetary policy by the Bank of Japan are detected in the Governor speech, it may affect JPY positively.

    According to the Analysis, The pair is expected to find support at 111.594, and a fall through could take it to the next support level of 111.479. The pair is expected to find its first resistance at 111.820, and a rise through could take it to the next resistance level of 111.931.

    Previous Day range was 2260 and Current Day Range is 3820.


    EUR USD

    The EUR traded higher against the USD and closed at 1.1216.

    The pair is expected to find support at 1.12035, and a fall through could take it to the next support level of 1.11908. The pair is expected to find its first resistance at 1.12355, and a rise through could take it to the next resistance level of 1.12548.

    EUR USD previous Day range was 32 and Current Day Range is 21.3.

    AUD USD

    The AUD traded lower against USD and closed at 0.7106.

    According to the analysis, pair is expected to find support at 0.70880, and a fall through could take it to the next support level of 0.70704. The pair is expected to find its first resistance at 0.71274, and a rise through could take it to the next resistance level of 0.71492.

    AUD USD previous day range was 39.4 and current day range is 21.1.

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    Technical Overview of GBP/USD, NZD/USD and AUD/CAD Currency Pairs

    GBP USD

    The GBP traded higher against the USD and closed at 1.3048.

    The European Council is set to meet in Brussels to discuss Brexit one day ahead of the deadline, trying to come to an agreement on an extension or the UK withdrawal from the EU. This meeting involves the Heads of State and Government of European Union member states.

    The Consumer Price Index (CPI) Ex Food & Energy released by the US Department of Labor Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. Those volatile products such as food and energy are excluded in order to capture an accurate calculation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).

    According to the Analysis, The pair is expected to find support at 1.30122, and a fall through could take it to the next support level of 1.29763. The pair is expected to find its first resistance at 1.31008, and a rise through could take it to the next resistance level of 1.31535.

    Previous Day range was 88.6 and Current Day Range is 19.2.


    NZD USD

    The NZD traded higher against the USD and closed at 0.674.

    The Consumer Price Index (CPI) Ex Food & Energy released by the US Department of Labor Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. Those volatile products such as food and energy are excluded in order to capture an accurate calculation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).

    The pair is expected to find support at 0.67315, and a fall through could take it to the next support level of 0.67232. The pair is expected to find its first resistance at 0.67531, and a rise through could take it to the next resistance level of 0.67664.

    NZD USD previous Day range was 21.6 and Current Day Range is 14.6.

    AUD USD

    The AUD traded higher against USD and closed at 0.7121.

    FOMC stands for The Federal Open Market Committee that organizes 8 meetings in a year and reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. FOMC Minutes are released by the Board of Governors of the Federal Reserve and are a clear guide to the future US interest rate policy.

    According to the analysis, pair is expected to find support at 0.71092, and a fall through could take it to the next support level of 0.70973. The pair is expected to find its first resistance at 0.71425, and a rise through could take it to the next resistance level of 0.71639.

    AUD USD previous day range was 33.3 and current day range is 33.1.

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


    EUR USD

    The EUR traded higher against the USD and closed at 1.1298.

    The Economic Sentiment published by the Zentrum fŁr Europšische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).

    According to the Analysis, The pair is expected to find support at 1.12584, and a fall through could take it to the next support level of 1.12189. The pair is expected to find its first resistance at 1.13304, and a rise through could take it to the next resistance level of 1.13629.

    Previous Day range was 72 and Current Day Range is 15.

    GBP USD

    The GBP traded higher against the USD and closed at 1.3071.

    The Average Earing Excluding Bonus released by the National Statistics is a key short-term indicator of how levels of pay are changing within the UK economy. It can be seen as a measure of growth in "basic pay". Generally speaking, the positive earnings growth anticipates positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).

    The ILO Unemployment Rate released by the National Statistics is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the UK Economy. If the rate is up, it indicates a lack of expansion within the U.K. labor market. As a result, a rise leads to weaken the U.K. economy. Generally, a decrease of the figure is positive (or bullish) for the GBP, while an increase is negative.

    The pair is expected to find support at 1.30368, and a fall through could take it to the next support level of 1.30023. The pair is expected to find its first resistance at 1.31180, and a rise through could take it to the next resistance level of 1.31647.

    GBP USD previous Day range was 81.2 and Current Day Range is 32.2.

    AUD USD

    The AUD traded higher against USD and closed at 0.7171.

    The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.

    According to the analysis, pair is expected to find support at 0.71273, and a fall through could take it to the next support level of 0.70835. The pair is expected to find its first resistance at 0.72035, and a rise through could take it to the next resistance level of 0.72359.

    AUD USD previous day range was 76.2 and current day range is 15.9.
    Technical Overview of EUR/USD,GBP/USD and AUD/USD Currency Pairs

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    Technical Overview of NZD/USD, USD/JPY and USD/CHF Currency Pairs

    NZD USD

    The NZD traded lower against the USD and closed at 0.6762.

    Consumer Price Index released by the Statistics New Zealand 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 NZD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative.

    According to the Analysis, The pair is expected to find support at 0.67471, and a fall through could take it to the next support level of 0.67326. The pair is expected to find its first resistance at 0.67794, and a rise through could take it to the next resistance level of 0.67972.

    Previous Day range was 32.3 and Current Day Range is 27.5.

    USD JPY

    The USD traded lower against the JPY and closed at 112.033.

    Eric Rosengren has been President and CEO of the Federal Reserve Bank of Boston since July 2007. Previously he headed the Bankís supervision, regulation, and credit group, and was active in domestic and international regulatory policy.

    Tertiary Industry Index released by the Ministry of Economy, Trade and Industry indicates the domestic service sector in Japan such as information and communication, electricity, gas heat and water, services, transport, wholesale and retail trade, finance and insurance ,and welfare. As the Japanese economy relies upon its exports, this event is expected to generate low volatility for the JPY. Generally, a high reading is positive (or bullish) for the JPY, while a low reading is negative (or bearish).

    The pair is expected to find support at 111.918, and a fall through could take it to the next support level of 111.803. The pair is expected to find its first resistance at 112.120, and a rise through could take it to the next resistance level of 112.207.

    USD JPY previous Day range was 2020 and Current Day Range is 1520.

    USD CHF

    The USD traded lower against CHF and closed at 1.0039.
    According to the analysis, pair is expected to find support at 1.00169, and a fall through could take it to the next support level of 0.99944. The pair is expected to find its first resistance at 1.00539, and a rise through could take it to the next resistance level of 1.00684.

    USD CHF previous day range was 37 and current day range is 14.3.
    Technical Overview of NZD/USD, USD/JPY and USD/CHF Currency Pairs - Forex Educations & Market Research

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    Technical Overview of USD/CAD, GBP/USD and USD/JPY Currency Pairs

    USD CAD

    The USD traded lower against the CAD and closed at 1.335.

    Consumer Price Index Core is released by the Bank of Canada. ďCoreĒ CPI excludes fruits, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transportation, and tobacco products. These volatile core 8 are considered as the key indicator for inflation in Canada. Generally speaking, a high reading anticipates a hawkish attitude by the BoC, and that is said to be positive (or bullish) for the CAD.

    According to the Analysis, The pair is expected to find support at 1.33294, and a fall through could take it to the next support level of 1.33094. The pair is expected to find its first resistance at 1.33861, and a rise through could take it to the next resistance level of 1.34228.

    Previous Day range was 56.7 and Current Day Range is 44.2.

    GBP USD

    The GBP traded higher against the USD and closed at 1.3043.

    Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.

    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).

    The pair is expected to find support at 1.30231, and a fall through could take it to the next support level of 1.30031. The pair is expected to find its first resistance at 1.30812, and a rise through could take it to the next resistance level of 1.31193.

    GBP USD previous Day range was 58.1 and Current Day Range is 34.7.

    USD JPY

    The USD traded lower against JPY and closed at 112.012.

    James Bullard is the President of the Federal Reserve Bank of St. Louis. Dr. Bullard took office on April 1, 2008, as the twelfth chief executive of the Eighth District Federal Reserve Bank, at St. Louis. He is currently serving a full term that began March 1, 2011. In 2013, he serves as a voting member of the Federal Open Market Committee.

    According to the analysis, pair is expected to find support at 111.892, and a fall through could take it to the next support level of 111.772. The pair is expected to find its first resistance at 112.087, and a rise through could take it to the next resistance level of 112.162.

    USD JPY previous day range was 1950 and current day range is 2410.

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    Technical Overview of CHF/JPY, USD/CHF and EUR/USD Currency Pairs

    CHF JPY

    cbdn9-fs0sw.jpg
    The CHF traded lower against the JPY and closed at 109.923.

    CHFJPY has formed a MB/IB on D1. It is in confluence with Yearly and Quarter Pivot.
    Keep in mind that both the currencies may share equal strength in short term due to weakness in USD( Yet to come).

    According to the Analysis, The pair is expected to find support at 109.592, and a fall through could take it to the next support level of 109.261. The pair is expected to find its first resistance at 110.127, and a rise through could take it to the next resistance level of 110.331.

    Previous Day range was 5350 and Current Day Range is 3170.

    USD CHF

    cbguc-1fl6c.jpg
    The USD traded higher against the CHF and closed at 1.0200.

    The pair has already stretched above 2618 %. Now it has formed MB/IB and is in confluence with the Quarter/Year Pivot Levels. A breakout towards up or down may eventually change the trend.

    The pair is expected to find support at 1.01727, and a fall through could take it to the next support level of 1.01453. The pair is expected to find its first resistance at 1.02234, and a rise through could take it to the next resistance level of 1.02467.

    USD CHF previous Day range was 50.7 and Current Day Range is 16.5.

    EUR USD

    cbc3d-qu8q7.jpg
    The EUR traded higher against USD and closed at 1.1154.

    The Pair formed a No Demand No Supply. VPOC level, 61% retracement & Quarter Pivot is in confluence at the market zone. A retracement may lead to further selling or alternatively it may make a new Impulse leg.

    According to the analysis, pair is expected to find support at 1.11210, and a fall through could take it to the next support level of 1.10882. The pair is expected to find its first resistance at 1.12063, and a rise through could take it to the next resistance level of 1.12588.

    EUR USD previous day range was 85.3 and current day range is 15.5.

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    Technical Overview of USD/CAD,USD/CHF, EUR/GBP and USD/JPY Currency Pairs

    USD CAD

    The USD traded lower against the CAD and closed at 1.3485.

    The pair stalls at the Quarter Pivot and Monthly Pivot. It also made a Bullish Climax at the Resistance Level. Keep in mind that Pair had also completed Bullish AB=CD Pattern.

    According to the Analysis, The pair is expected to find support at 1.34719, and a fall through could take it to the next support level of 1.34591. The pair is expected to find its first resistance at 1.35070, and a rise through could take it to the next resistance level of 1.35293.

    Previous Day range was 35.1 and Current Day Range is 18.2.

    USD CHF

    The USD traded lower against the CHF and closed at 1.0202.

    The pair stalls at the Quarter Pivot and Monthly Pivot. Itís in a Mother bar In side bar Formation
    The daily Moving Average presents a Bullish Momentum( after the resistances are broken)
    Or else there shall be a successful close below the daily Moving Average to go further down.

    The pair is expected to find support at 1.01873, and a fall through could take it to the next support level of 1.01728. The pair is expected to find its first resistance at 1.02219, and a rise through could take it to the next resistance level of 1.02420.

    USD CHF previous Day range was 34.6 and Current Day Range is 9.9.

    EUR GBP

    The EUR traded higher against GBP and closed at 0.8628.

    The pair stalls at the Quarter Pivot and Monthly Pivot. It also made a Double Top,
    Iy closed below the D1 Moving Average. As we know the weakness in EURO is present so, this pair can follow the Classic Double Top Pattern.

    According to the analysis, pair is expected to find support at 0.86182, and a fall through could take it to the next support level of 0.86080. The pair is expected to find its first resistance at 0.86462, and a rise through could take it to the next resistance level of 0.86640.

    EUR GBP previous day range was 28 and current day range is 8.9.

    USD JPY

    The USD traded higher against JPY and closed at 111.603.

    The pair stalls at the Quarter Pivot and Monthly Pivot. Itís in a range now. But pair started to move. Best option is to wait for pivot breakouts...

    According to the analysis, pair is expected to find support at 111.235, and a fall through could take it to the next support level of 110.866. The pair is expected to find its first resistance at 112.105, and a rise through could take it to the next resistance level of 112.606.

    USD JPY previous day range was 8700 and current day range is 3360.

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    Technical Overview of EUR/CHF,NZD/USD and GBP/CHF Currency Pairs

    EUR CHF

    cb8ca-7yeq4.jpg
    The EUR traded higher against the CHF and closed at 1.1392.

    1- Mother bar @ Middle Quarter Resistance 2
    2-The top is the 786 Level retracement
    3- The D1 Trend line has also broken. Indicating a Bearish Movement

    Scenario 1: If there is a bearish breakout of Mother bar followed by a test with low volume then we may see an AB= CD pattern, With D point in confluence with the Middle Quarter Resistance 1.

    Scenario 2: If there is a bullish breakout above the yearly Pivot with a low volume retest then we may see a new Impulse leg which then extend or make a Double Top.

    According to the Analysis, The pair is expected to find support at 1.13750, and a fall through could take it to the next support level of 1.13577. The pair is expected to find its first resistance at 1.14244, and a rise through could take it to the next resistance level of 1.14565.

    Previous Day range was 49.4 and Current Day Range is 23.9.

    NZD USD

    cbjuc-e97do.jpg
    The NZD traded higher against the USD and closed at 0.662.

    1- H4 Mother bar @MSup1Q1
    2-The 61% Level retracement

    Scenario 1: If there is a bearish breakout of Mother bar followed by a test with low volume then we may see an AB= CD pattern, With D point in confluence with the Msup1Y1 & Msup1Q1

    Scenario 2: If there is a bullish breakout above the yearly Pivot with a low volume retest then we may see a new Impulse leg which then extend or make a Double Top.

    The pair is expected to find support at 0.65978, and a fall through could take it to the next support level of 0.65754. The pair is expected to find its first resistance at 0.66608, and a rise through could take it to the next resistance level of 0.67014.

    NZD USD previous Day range was 63 and Current Day Range is 27.5.

    GBP CHF

    cbbby-f0xss.jpg
    The GBP traded higher against CHF and closed at 1.3278.

    1- An Effort candle followed by climax candle.
    2- Formed candles @ the previous month resistance
    3- Followed by no demand no supply
    4- Followed by vpoc with low volume

    Scenario1: If the pair retraces to the no demand no supply area with low volume then we may see a downward movement.
    Scenario 2: If we see a bullish breakout then we will need further conformations to go long.

    According to the analysis, pair is expected to find support at 1.32556, and a fall through could take it to the next support level of 1.32332. The pair is expected to find its first resistance at 1.33018, and a rise through could take it to the next resistance level of 1.33256.

    GBP CHF previous day range was 46.2 and current day range is 50.1.
    Technical Overview of EUR/CHF, NZD/USD and GBP/CHF Currency Pairs

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    Technical Overview of GBP/JPY and AUD/NZD Currency Pairs

    GBP JPY

    The GBP traded higher against the JPY and closed at 146.344.

    GBPJPY @ a very strong resistance
    Reasons
    1- The Long Blue candle Represents Climax candle (indicating that smart money may be interested in selling).
    2- Abcd formed @ 127Extension.
    3- 127 level in confluence with trendline of Pivot Candles.
    4- Price approaching the Middle Resistance 1 of 1st Quarter.
    5- RSI H4 & D1 Already in Over Bought level.
    6- High of Previous Daily & Weekly Candle also Broken.
    So Scenarios
    If we see A Low Volume Test (two bullish candles followed by a bearish one with low volume then we can expect selling).
    If we break above the 161 Level with 2 bearish candles followed by 1 bullish low volume candle may resume uptrend.

    According to the Analysis, The pair is expected to find support at 145.254, and a fall through could take it to the next support level of 144.164. The pair is expected to find its first resistance at 146.951, and a rise through could take it to the next resistance level of 147.558.

    GBP JPY Previous Day range was 16970 and Current Day Range is 9510.

    AUD NZD

    The AUD traded higher against the NZD and closed at 1.0572.

    The Pair Formed
    1- Mother bar in side bar @ the Quarterly Resistance, Previous Month Resistance and Monthly Pivot Levels. Itís in a range for now.
    2- 55 and 21 Period Moving average has a downward slope.
    3- Pair has made a series of LH and LL and the Trendline from the PIVOT CANDLES has been formed.

    Scenarios

    1- A break below the Low of Mother bar may continue the trend.
    Or
    2- A break above the Mother bar High may have a change in bias towards the up side.
    The pair is expected to find support at 1.05557, and a fall through could take it to the next support level of 1.05396. The pair is expected to find its first resistance at 1.05833, and a rise through could take it to the next resistance level of 1.05948.

    AUD NZD previous Day range was 27.6 and Current Day Range is 32.4.
    Technical Overview of GBP/JPY and AUD/NZD Currency Pairs

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    Technical Overview of AUD/CHF and EUR/AUD Currency Pair

    AUD CHF

    The AUD traded lower against the CHF and closed at 0.7128.

    Itís an interesting pair; letís see what it has for us today. The same Directions apply to almost all of the AUD pairs.

    1-It formed A daily Motherboard Inside bar
    2- Itís in confluence with Yearly Pivots
    3- Itís in confluence with Quarter Pivots
    4- Itís in confluence with Month Pivots
    5- The Pair has been making a series of LL and LH.
    6- The Pivotal Trend line has broken to the upside.
    7- The Trendline has been Tested

    Scenario 1-If we get a break above the 0.7160 -0.7175 Zone of Year/Quarter & Month Pivot then we may Expect to move UP
    Scenario 2- If we break the lows of Mother bar Inside bar then we may go Down

    According to the Analysis, The pair is expected to find support at 0.71082, and a fall through could take it to the next support level of 0.70884. The pair is expected to find its first resistance at 0.71540, and a rise through could take it to the next resistance level of 0.71800.

    AUD CHF Previous Day range was 45.8 and Current Day Range is 26.7.

    EUR AUD

    The EUR traded higher against the AUD and closed at 1.6011.

    Pair has formed

    1 - It formed a daily Mother bar Inside bar.
    2 - Itís in confluence with Yearly Pivots.
    3 - Itís in confluence with Quarter Pivots.
    4 - Range of Quarter and Year Pivots.
    5 - The Pair has been making a series of HH and HL.
    6 - Break Above or below the 127 Extension may lead pair to the short term trend.

    According to the Analysis, The pair is expected to find support at 1.59644, and a fall through could take it to the next support level of 1.59184. The pair is expected to find its first resistance at 1.60376, and a rise through could take it to the next resistance level of 1.60648.

    EUR AUD Previous Day range was 73.2 and Current Day Range is 62.
    Technical Overview of AUD/CHF and EUR/AUD Currency Pair

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