2018-09-10
In Asia, Japan will release the Economy Watchers Sentiment, Final GDP q/q, Final GDP Price Index y/y, Current Account, and Bank Lending y/y data, and the US will release some Economic Data such as Consumer Credit m/m. 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: 111.50.
Resistance. 2: 111.28.
Resistance. 1: 111.06.
Support. 1: 110.80.
Support. 2: 110.58.
Support. 3: 110.36.
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 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, Sept 10, 2018
2018-09-10
When the European market opens, some Economic Data will be released such as Sentix Investor Confidence. The US will release the economic data too, such as Consumer Credit 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: 1.1616.
Strong Resistance:1.1609.
Original Resistance: 1.1598.
Inner Sell Area: 1.1587.
Target Inner Area: 1.1560.
Inner Buy Area: 1.1533.
Original Support: 1.1522.
Strong Support: 1.1511.
Breakout SELL Level: 1.1504.
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 EUR/USD for September 10, 2018
2018-09-10
EUR/USD has been quite impulsive with the recent bearish momentum which leads the price to reside below the trend line resistance with daily close. The positive high impact economic reports of USD published recently provided the required push for the currency to gain sustainable momentum over EUR in the process which is expected to push further lower in the coming days.
EURO has been quite mixed with the recent economic reports which did not quite help the currency to sustain the bullish momentum it had earlier. Ahead of the EURO Main Refinancing Rate to be published which is expected to be unchanged at 0.00% and ECB Press Conference to be held this week on Thursday, EURO is expected to be quite volatile and indecisive. Today EURO Sentix Investor Confidence report is going to be published which is expected to decrease to 13.8 from the previous figure of 14.7. Moreover, EURO is still struggling with the Greece issues which are expected to come to a solution very fast and Brexit issue is also expected to wrap up by the first quarter of 2019 which does indicate that EURO is going to be quite weak since the end of 2018.
On the USD side, as of the recent observation, the higher rates leading to higher inflation and increased in Jobs sector did provide the required push for the economy as well the currency to gain momentum. Though the monetary policies are suggested to be tighter how FED is going to manage that is going to be the number question for the coming days. This week US PPI, CPI and Retail Sales reports are going to be published which are expected to have mixed outcome whereas better than expected actual results may lead to further add to the impulsive gains of the USD in the process. Today FOMC Member Bostic is going to speak in Georgia about the nation's key interest rates and upcoming monetary policies which are expected to be quite neutral in nature.
As of the current scenario, the EURO is expected to struggle further to gain momentum whereas USD positive economic reports are expected to gain further bearish pressure in the process. Though upcoming economic reports are expected to have a greater influence on the upcoming price action in the pair but analyzing the fundamental facts, USD is quite ahead of EURO in the process and expected to lead the price much lower in the coming days.
Now let us look at the technical view. The price has been quite impulsive with the bearish gains which lead the price to reside below 1.1600 area with an intention to push lower towards 1.1500 area in the coming days. Though the price has been quite impulsive with the recent bearish pressure but the decisive bearish gains are still not confirmed. So, a daily close below 1.1500 is needed for further continuation of the bearish momentum in the pair with target towards 1.1300 support area in the coming days.
SUPPORT: 1.1500, 1.1300
RESISTANCE: 1.1600, 1.1750
BIAS: BEARISH
MOMENTUM: IMPULSIVE
Fundamental Analysis of USD/JPY for September 10, 2018
2018-09-10
USD/JPY is still quite corrective and volatile while residing above 110.50 area with a daily close. Despite the recent positive economic reports of USD employment statistics, USD could not manage to engulf the previous bearish momentum in the pair which does indicate the strength of JPY in the process.
JPY has been meeting the economic expectations for which the sustainability of the gains based on a better performing economy is quite appreciable. Today JPY Bank Lending report was published with an increase to 2.2% which was expected to be unchanged at 2.0%, Current Account decreased to 1.48T from the previous value of 1.76T which was expected to be at 1.56T, Final GDP Price Index report was published unchanged as expected at 0.1% and Final GDP increased to 0.7% as expected from the previous value of 0.5%. The average performance of the economic reports is quite hawkish and expected to provide the required momentum to sustain the bearish pressure in the pair.
On the other hand, this week US PPI, CPI and Retail Sales reports are going to be published which are expected to have mixed outcome whereas better than expected actual results may lead to further add to the impulsive gains of the USD in the process. Today FOMC Member Bostic is going to speak in Georgia about the nation's key interest rates and upcoming monetary policies which are expected to be quite neutral in nature.
As of the current scenario, USD is still quite strong having increased job statistics and economic growth backed by the recent rate hikes and expected inflation. Though JPY is also quite successful in sustaining its gains over USD, certain volatility is expected in this pair. Upcoming USD and JPY reports are expected to provide the required clue for the decisive definite momentum in the pair which is expected to lead to an imbalance market momentum in the pair.
Now let us look at the technical view. The price has recently rejected off the 110.50 with another False Break price action which does indicate the area of bulls in the pair from where certain bullish momentum can be expected. Currently, the price is residing below the dynamic level of 20 EMA with a daily close which if broken with a daily close is expected to inject further bullish momentum in the pair to push the price higher towards 112.00 and later towards 113.00 area in the coming days. As the price remains above 110.50 with a daily close, the bullish bias is expected to continue.
SUPPORT: 110.50
RESISTANCE: 112.00, 113.00
BIAS: BULLISH
MOMENTUM: VOLATILE
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