|Day's Range||80.39 - 80.551|
|52 Week Range||80.390 - 90.225|
Yesterday and today, EURAUD is climbing higher but just to test the super important horizontal resistance. EURAUD met a combination of three crucial elements. The second one is the horizontal resistance, which previously, for many weeks was a support and the third one is the mid-term down trendline.
The U.S. dollar remains slightly stronger versus its rivals on Wednesday as the Federal Reserve affirms expectations for more rate increases in 2018 and trade war worries rise.
Notwithstanding the AUDUSD’s sustained trading above a fortnight long ascending trend-line, the pair can’t be termed strong as immediate downward slanting TL, at 0.7455, followed by the 0.7480-85 horizontal-region, still stand tall to challenge the buyers. In case the pair surpasses the 0.7485, the 0.7500 may offer an intermediate halt during its rally to 0.7555 resistance-level. On the contrary, dip below the 0.7395 support-line can drag prices to the 0.7360 and the 0.7320 numbers. Though. pair’s additional weakness past-0.7320 might not respect the July-month low around 0. ...
According to different estimates, there is a risk now for Japan to get involved in the trade wars between the US and China. As of yet, there are no compelling reasons to be afraid of it, but in theory, such possibility really exists.
Should Bears refrain to respect the 0.7255 mark, the medium-term descending trend-line, at 0.7145, and the 100% FE level of 0.7115 might not hesitate to appear on the chart. AUDJPY presently struggles with three-week old ascending trend-line, at 81.95, break of which can further drag the quote to 81.60 and the 81.25 supports. Meanwhile, the 82.20, the 82.55 and the 82.80 can confine the pair’s nearby upside, which if cleared may escalate the recovery in direction to the 83.00 horizontal-line, the 83.20 and the 83.55 number that accompanies more than a month long descending trend-line.
Trump’s comments may have ignited the initial sell-off in the Dollar/Yen, however, they are now an afterthought due to the reports that the BOJ is considering a shift in monetary policy. The story is still breaking and details are sparse, but investors are wasting no time waiting for official word which probably won’t come out until next week’s central bank meeting.
Worse CPI in the UK sends the GBP lower. On the GBPCAD it helps to break the long-term up trendline and the lower line of the rectangle. That is a strong sell.
The European Union and Japan signed a historic deal on Tuesday that will remove any tariffs on products they exchange.
The end of the last week and the start of this one are great for the currencies from the antipodes: AUD and NZD. In the battle of those two, the AUD seems a bit stronger, that is why we will focus on the first one. On the AUDJPY, we can see a very interesting buying opportunity.
The AUD is going down again after taking a short break. The RBA meeting minutes did not affect the currency very much, as everything was quite clear beforehand. The Chinese stats were, on the contrary, very influential.
Following its U-turn from 0.7805–0.7800 horizontal-resistance, the AUDUSD seems declining towards 0.7725-20 support test, but oversold RSI may confine the pair’s further downside, failing to which can highlight the 0.7700 and the 0.7670 rest-points. During the pair’s additional south-run beneath the 0.7670, the 0.7650 may become an important level to watch that if broken might not hesitate dragging the quote to 61.8% FE level of 0.7595. Meanwhile, an upside break of 0.7805 can trigger the pair’s recovery in direction to 0.7840 and then to the 0.7850-55. ...
Wednesday is a Head and Shoulders day in our analysis! Today we do have three great trading occasions for you based on this popular pattern. First one is the USDCAD, where the price created a big Head and Shoulders pattern. Next one is the AUDJPY, where we do have an Inverse Head and Shoulders formation.
Even after bouncing off the 105.50-45 support-zone, the USDJPY still struggles with two-month old descending trend-line, at 106.85 now, before the crucial US NFP. Should the employment details please USD buyers, the pair may surpass 106.85 and can rise towards 107.20 and the 107.60 but its following recovery has to conquer the 107.90-95 horizontal-line in order to visit the 108.40 and the 109.00 resistance-levels. In case if the Jobs report disappoint greenback Bulls and trigger the pair’s pullback, the 106.50, the 106.20 and the 105.80 are likely consecutive supports to appear on the chart. ...
Having been defeated by 107.90 again, the USDJPY seem declining towards 107.00 re-test, breaking which 106.70 and the 106.40 are likely to appear on the chart. In case if the pair continue trading down below 106.40, the 106.00 may act as a small barrier during its south-run in direction to 105.50 and then to the 61.8% FE level of 104.80. Should prices take a U-turn from present levels and surpasses 107.90, also clears the 108.00 round-figure, six-week long downward slanting TL, at 108.40, may try to restrict its following up-side, breaking which 108.80 and 109.10 can become buyers’ favorites. ...
AUDUSD’s gradual recovery from 0.7758 recently reversed from 0.7890 horizontal-line, which in-turn signals the pair’s pullback to 0.7850 TL support. Should the pair break 0.7850, the 0.7830 and the 0.7790 are likely intermediate halts that it can avail before re-testing the 0.7760-55 support-zone. Moreover, pair’s declines below 0.7755 can make it vulnerable to rest on the 61.8% FE level of 0.7710. Meanwhile, break of 0.7890 could escalate the pair’s up-moves to 0.7910 and then to the 0.7955-60 horizontal-region. If at all Bulls conquer the 0.7960, the 0.8000 round-figure and 0. ...
The Australian dollar has rallied in the last 2 weeks from a low of US75c to around US76.60c against the greenback, defying analysts’ predictions that the currency would tumble if the US Federal Reserve stuck to their plan to hike rates further next year and if new tax legislation in the US was passed. Also, A new tax legislation that was introduced by US President Donald Trump which envisions cutting the corporate tax rate to 20 percent among other things is sure to be signed into law this week by the US president after his own Republican party passed the tax bill through both the Senate and the house of representatives.
The Australian dollar surprisingly jumped after yesterday’s rate hike from the US Federal Reserve and even held steady against the following monetary statement which raises the question, is there still genuine interest in the Aussie battler.
Gold made a significant move yesterday which actually triggers a sell signal on this instrument. The price broke the up trendline, lower line of the triangle and the horizontal support on the 1267 USD/oz. Dollar index broke the upper line of the flag and defended the horizontal support on the 92.7 points.
The AUD/JPY is following a bearish zigzag pattern that could reach D camarilla support levels as I showed during my Real-Time Daily Trading Ideas Live Webinar today. The AUD/JPY could reject from the POC zone 85.90-95 (50.0, W L5, EMA89, D H3) and as long as 85.18-25 holds we might see a drop towards 85.50 and 85.35. … Continue reading AUD/JPY Bearish Zig Zag Pattern Aiming for 85.35 if 86.25 holds
The Yen has weakened in early trading against the U.S Dollar this morning, but it is approaching important resistance levels which have proven to be strong since March of this year. Traders with a speculative taste may be tempted to sell the U.S Dollar against the Yen. Yen Weakening in Early Trading The Yen has … Continue reading Yen Churns Within Known Range
The Australian CPI rose 1.8 percent for the year which was lower than 2 percent expectation. The data hurt the AUD and it made a direct drop to W L4 with an extension to 87.78. At this point shorting on rallies is the option. Short term scalps could come around 88.08 while positional short trades could … Continue reading AUD/JPY Drops on Worse Than Expected CPI
AUD/USD Having breached the 0.7750-40 horizontal-line, the AUDUSD seems all set to test the 200-day SMA level of 0.7690 prior to visiting the 0.7630 support-mark. However, the pair’s declines beneath 0.7630 may find it hard to clear nearly eleven-month old ascending trend-line, at 0.7560, which if broken could open the door for its plunge towards … Continue reading Technical Checks For Important AUD Pairs: 25.10.2017
USD/JPY USDJPY’s sustained trading below three week old ascending trend-channel indicates brighter chances of its additional downside with 111.80 and the 111.00 being likely nearby supports for the pair before it could avail the 110.65-70 horizontal-line as rest-point. Given the pair’s dip below 110.65, the 110.30 and the 109.80 may reappear on the chart. On … Continue reading Important JPY Pairs’ Technical Update: 11.10.2017