Key support placed at 1.1725The Euro advanced against the US Dollar in the last session, shrugging off data that indicated an unexpected fall in the Eurozone’s retail sales to its lowest level in nearly two years. As of now, the pair is trading in a short range of 1.1745-1.1765 on the 1H chart, reflecting at a neutral technical picture. However, a recent centreline crossover by the MACD indicator to trade into the negative territory, suggests at possible bearishness over intraday basis. Immediate support is aligned at the 1.1725 level, a move back below which lead to negativity in the pair, clearing the way for the 1.1690 and 1.1660 levels. On the contrary, the key technical barrier is situated at the 1.1780 level, followed by the 1.1815 and 1.1850 levels. A break above the latter might trigger further upside momentum in the pair.
Weak if breaches below 22615The Dow Jones index continued to trade higher in the previous session, buoyed by gains in healthcare sector stocks. Moreover, comments from the US Secretary of State, Rex Tillerson, dismissing market rumours of his resignation, further added positivity to the index. Currently, the index is trading with a slightly weak bias on the 1H chart, hinting at bearishness in the coming session. Also, the MACD indicator is directing towards the south, further endorsing the above stance. Key technical support is located at the 22615 level, followed by the 22560 and 22500 levels. A breach below the latter might reverse the main trend to bearish. On the contrary, key resistance is positioned at the 22715 level, followed by the 22750 and 22800 levels. A break above the latter might lead to further bullish momentum in the index.
Bullish if breaks above 1.3335The Pound posted modest gains against the US Dollar in the previous session, after the British services sector activity surprisingly accelerated in September from an eleven-month low level in August. At present, the pair is trading with a positive tone on the 1H chart, reflecting at a bullish technical scenario. In addition, the MACD indicator is likely to cross the signal line from below, further validating the above stance. Important resistance is seen at the 1.3270 level where EMA 55 is placed, followed by the 1.3300 and 1.3335 levels. A sustained break above the latter might lead to further strength in the pair. On the contrary, key support is positioned at the 1.3210 level, followed by the 1.3180 and 1.3150 levels. A breach below the latter might trigger selling pressure on the pair.
Bearish if breaches below 7375The FTSE 100 index ended flat in the prior session, as early gains in the index were later trimmed by decline in energy sector stocks after the UK Prime Minister announced plans to introduce price cap on energy bills. As of now, the index is trading in a short range of 7455-7475 on the 1H chart, indicating at possible near-term consolidation in the index. However, the MACD indicator is heading south, hinting at likely correction in the coming session. Important support is aligned at the 7430 level, followed by the 7405 where EMA 55 is located and 7375 levels. A move back below the latter might lead to downside momentum in the index. Conversely, key resistance resides at the 7500 level, followed by the 7535 and 7570 levels. A surge above the latter might trigger positivity in the index.
Bearish if breaches below 111.80Yesterday, the US Dollar started the session against the Yen on a bearish note and fell as low as 112.32. However, the pair recovered at a later stage after the US non-manufacturing activity surged by its fastest pace in twelve years in September. Currently, the pair is trading in a narrow range of 112.65-112.85 on the 1H chart, ahead of the US factory orders and weekly jobless claims data, to be released today. However, a likely signal line crossover from above the MACD indicator, suggests at possible weakness over intraday basis. Crucial support is seen at the 112.45 level where EMA 200 is located, followed by the 112.15 and 111.80 levels. A breach back below the latter might lead to increased selling pressure on the pair. Conversely, key resistance is situated at the 112.95 level, followed by the 113.30 and 113.65 levels.
Weak intraday biasThe yellow metal recorded marginal losses in the last session and closed at $1273.70, as upbeat economic releases in the US led to a decline in the demand in the safe haven commodity. As of now, the precious metal is trading below its short-term and long-term EMAs on the 1H chart, reflecting at the bearish momentum in the coming session. Additionally, the MACD indicator is tranquil below its centreline, further affirming the above stance. Key near-term support is observed at the $1270 level, a breach below which might lead to further acceleration to the downside, clearing its way for the $1267 and $1264 levels. On the contrary, key resistance is placed at the $1277 level, followed by the $1280 and $1283 where EMA 200 is located. A sustained break above the latter might trigger upside momentum in the precious metal.
Bearish if crosses below $54.30Following six straight bearish sessions, the Brent Crude traded in the green in the previous session, after data released by the Energy Information Administration (EIA) surprisingly indicated a significant drop in the US crude oil inventories in the last week. At present, the commodity is trading below the short-term and long-term EMAs on the 1H chart, reflecting at a negative technical outlook. Moreover, the MACD indicator is trading below its centreline, further confirming the above stance. Important intraday support is aligned at the $55.35 level, followed by the $54.80 and $54.30 levels. A move back below the latter might lead to negativity in the Brent oil. On the other hand, key resistance is placed at the $56.15 level, followed by the $56.70 and $57.40 levels. A surge above the latter might trigger a further acceleration to the upside.
This communication is intended solely for the person or entity to whom it is addressed. Such person or entity is prohibited from disseminating, distributing, transmitting or forwarding this communication to any other person or entity. This communication may not be used in whole or in part by any person or entity which it was not originally directed to by ADS Securities LLC (“ADSS”, “us” or “we”). Trading foreign exchange, foreign exchange options, foreign exchange forwards, contracts for difference, bullion and other over-the-counter products carries a high level of risk and may not be suitable for all investors. All opinions, news, analysis, prices or other information contained in this communication are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation for you to buy or sell any over-the-counter product or other financial instrument. Further, this information has been prepared without regard to any specific investment objectives or financial position (including deposit size, leverage, risk appetite and risk exposure) of any specific person. Any reference to historical price movements is informational and based on our analysis. We do not represent or warranty that any such movements are likely to occur in the future, as past performance is not necessarily indicative of future results. While we believe the information contained herein to be reliable, we do not guarantee its accuracy or completeness. You understand that we do not produce the information with the intent of impacting your investment decisions, therefore, you release us from any liability for any losses, including without limitation, any loss of profit you may incur as a result of reliance on such information or entering into any transaction. By receiving this material, you confirm and agree that you have read, received and understood ADSS’s Risk Disclosure.
Get Bonus No Deposite in your Trading Account now and add this currency pair to your forex portfolio, enjoy your trading with us!
No comments:
Post a Comment