2018-08-24
In Asia, Japan will release the SPPI y/y, National Core CPI y/y and the US will release some Economic Data such as Durable Goods Ordersm/m, and Core Durable Goods Orders m/m. So there is a probability the USD/JPY pair will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL: Resistance. 3: 111.97. Resistance. 2: 111.75. Resistance. 1: 111.53. Support. 1: 111.26. Support. 2: 111.04. Support. 3: 110.83.
Disclaimer: Trading Forex (foreign exchange) on margin carries a highlevel 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 carefullyconsider your investment objectives, level of experience, and riskappetite. The possibility exists that you could sustain a loss of someor all of your initial investment and therefore you should not investmoney that you cannot afford to lose. You should be aware of all therisks associated with foreign exchange trading, and seek advice froman independent financial advisor if you have any doubts.
Technical analysis: Intraday Level For EUR/USD, Aug 24, 2018
2018-08-24
When the European market opens, some Economic Data will be released such as Belgian NBB Business Climate, and German Final GDP q/q. The US will release the Economic Data too such as Durable Goods Orders m/m, and Core Durable Goods Orders m/m, so amid the reports, EUR/USD will move in a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL: Breakout BUY Level: 1.1599. Strong Resistance:1.1592. Original Resistance: 1.1581. Inner Sell Area: 1.1570.Target Inner Area: 1.1543. Inner Buy Area: 1.1516. Original Support: 1.1505. Strong Support: 1.1494. Breakout SELL Level: 1.1487.
Disclaimer: Trading Forex (foreign exchange) on margin carries a highlevel 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 carefullyconsider your investment objectives, level of experience, and riskappetite. The possibility exists that you could sustain a loss of someor all of your initial investment and therefore you should not investmoney that you cannot afford to lose. You should be aware of all therisks associated with foreign exchange trading, and seek advice froman independent financial advisor if you have any doubts.
Fundamental Analysis of USD/CHF for August 24, 2018
2018-08-24
USD/CHF has recently breached below the 0.9850 area with a daily close which was not quite sufficient to keep pushing the price down consistently with target towards the 0.97 area. CHF has been dominating in the pair recently despite the recent positive USD economic reports.
Despite having worse economic report results, certain gain on the CHF side is quite surprising, but indicating a shift in the market sentiment in the process. Recently, CHF Trade Balance report has been published with a decrease to 2.26B from the previous figure of 2.56B which was expected to increase to 2.85B. Ahead of the Credit Suisse Economic Expectations report next week, certain volatility may be observed on the gains of CHF in the process.
On the USD side, today, Core Durable Goods Orders report is going to be published which is expected to increase to 0.5% from the previous value of 0.2% and Fed Chair Powell's speech is going to be held which is expected to impact the current momentum of USD in the process. Though USD has been quite weak against CHF, but any positive outcome of the speech is expected to regain the lost momentum for further USD gains.
As of the current scenario, today's high impact USD economic reports and events are expected to provide definite momentum in the market, whereas a positive outcome is expected to inject strength for the USD to regain momentum against CHF in the process or else CHF may lead the way further in the coming days.
Now let us look at the technical view. The price has been quite volatile and corrective at the edge of the 0.9850 area from where the price is expected to retrace higher towards the 0.9950 area before pushing lower towards the 0.9700 area in the coming days. As the price remains below the 0.9980 area, the bearish bias is expected to continue further.
SUPPORT: 0.9700, 0.9850
RESISTANCE: 0.9980
BIAS: BEARISH
MOMENTUM: VOLATILE
Technical analysis of Gold for August 24, 2018
2018-08-24
The Gold price pulled back towards $1,183 as expected after the short-term top just above $1,200. The Gold price was expected to pull back at least towards the 38% Fibonacci retracement and it did. Correction might be over. A new higher high above $1,203 will open the way for a push towards $1,220.
The Gold price reached the 38% Fibonacci retracement and is bouncing. If price breaks the recent low we should expect it to move towards the 61.8% Fibonacci retracement next around $1,175. If gold price does not break the recent $1,183 low and breaks above Monday's highs, we should then expect Gold to see $1,220 over the next few weeks.
So keep an eye on $1,183 and $1,175 which are the most important support levels. Breaking below $1,175 will open the way for a move towards $1,160 and even lower. Resistance levels above are found at $1,203. Recapturing the $1,200 level will give at least a short-term boost towards $1,220 or higher.
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