2018-08-14
In Asia, Japan will release the Revised Industrial Production m/m data, and the US will release some Economic Data such as Import Prices m/m and NFIB Small Business Index. So there is a probability the USD/JPY will move with a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Resistance. 3: 111.36.
Resistance. 2: 111.14.
Resistance. 1: 110.93.
Support. 1: 110.66.
Support. 2: 110.45.
Support. 3: 110.23.
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or Investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Technical analysis: Intraday Level For EUR/USD, Aug 14, 2018
2018-08-14
When the European market opens, some Economic Data will be released such as ZEW Economic Sentiment, Industrial Production m/m, German ZEW Economic Sentiment, Flash GDP q/q, French Final CPI m/m, German Final CPI m/m, and German Prelim GDP q/q. The US will release the Economic Data too, such as Import Prices m/m and NFIB Small Business Index, so amid the reports, EUR/USD will move in a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1457.
Strong Resistance:1.1450.
Original Resistance: 1.1439.
Inner Sell Area: 1.1428.
Target Inner Area: 1.1401.
Inner Buy Area: 1.1374.
Original Support: 1.1363.
Strong Support: 1.1352.
Breakout SELL Level: 1.1345.
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or Investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Fundamental Analysis of GBP/USD for August 14, 2018
2018-08-14
GBP/USD has been quite non-volatile with the bearish trend earlier which has led the price to reside below 1.2850 support area with a daily close. Ahead of the GBP and USD high impact economic reports this week, certain volatility is expected in this pair for the coming days.
Today GBP Average Earning Index report is going to be published which is expected to be unchanged at 2.5%, Claimant Count Change is expected to have a positive impact with a decrease to 2.3k from the previous figure of 7.8k and Unemployment Rate is expected to be unchanged at 4.2%. Moreover, tomorrow GBP CPI report is going to be published which is expected to have a slight increase to 2.5% from the previous value of 2.4%. Though there are still some questions about how BREXIT is going to play out but having certain tensions in the process, better economic reports are expected to boost the GBP gains in the future.
On the USD side, today NFIB Small Business Index report is going to be published which is expected to slightly decrease to 106.9 from the previous figure of 107.2 and Import Price is expected to increase to 0.1% from the previous value of -0.4% in the process. Additionally, tomorrow USD Retail Sales report is going to be published which is expected to decrease to 0.2% from the previous value of 0.5% and Core Retail Sales is expected to be unchanged at 0.4%.
As of the current scenario, the acceleration of US economy this year is expected to slow down in 2019 whereas other major economies are expected to dominate US in several ways. Before that currently ahead of the UK high impact economic reports, USD forecasts are quite dovish and expected to inject certain volatility and bullish pressure in the process before the bearish trend continues to push lower.
Now let us look at the technical view. The price is currently quite bullish as residing below 1.2850 area which is expected to be retested before the price continues to push lower with target towards 1.2550 in the coming days. The trend is non-volatile and expected to push the price impulsively after certain bullish retracement in the process. As the price remains below 1.30 area with a daily close, the bearish bias is expected to continue.
SUPPORT: 1.2550
RESISTANCE: 1.2850, 1.30
BIAS: BEARISH
MOMENTUM: VOLATILE
Fundamental Analysis of USD/CAD for August 14, 2018
2018-08-14
USD/CAD had been quite volatile until it breached above 1.3050 with a daily close. The price is currently retracing to retest the resistance as support. USD has been quite impulsive with the recent gains which lead CAD to lose some grounds in the process despite better-than-expected economic reports.
Recently, Canada's Employment Change report was published with a significant increase to 54.1k from the previous figure of 31.8k which was expected to decrease to 17.0k and Unemployment Rate also decreased to 5.8% from the previous value of 6.0% which was expected to be at 5.9%. The positive economic report helped CAD to strengthen for a certain period but CAD could not extend it further. This week on Thursday, Canada's Manufacturing Sales report is going to be published which previously was at 1.4% and ADP Non-Farm Employment Change report which previously was at -10.5k. Both economic reports are expected to reveal positive results. Moreover, on Friday, CAD CPI report is going to be published which previously was at 0.1% and this time a certain increase is expected as well.
On the other hand, today US NFIB Small Business Index report is going to be published which is expected to decrease marginally to 106.9 from the previous figure of 107.2 and Import Price is expected to increase to 0.1% from the previous value of -0.4%. Additionally, tomorrow US Retail Sales report is going to be published which is expected to decrease to 0.2% from the previous value of 0.5% and Core Retail Sales is expected to be unchanged at 0.4%.
Meanwhile, certain volatility is expected in this pair as high impact economic reports from both Canada and the US are due in the coming days of the week. If CAD performs well with the economic reports, then further bearish momentum will go on in this pair. Otherwise, USD has higher chances to advance in the short term.
Now let us look at the technical chart. As the price broke above 1.3050 area with a daily close, the previous momentum below 1.3050 is currently being assumed as false break momentum. Currently, the price is going to retrace towards 1.3050 area for a retest before pushing higher towards 1.3300 resistance area in the coming days. As the price remains above 1.2950 area, the bullish bias is expected to continue further.
SUPPORT: 1.3050, 1.2950
RESISTANCE: 1.3300
BIAS: BULLISH
MOMENTUM: VOLATILE
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