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  • Technical Overview of AUD/USD and EUR/JPY Currency Pair

    AUD USD

    AUD traded higher against USD and closed at 0.7008.

    Higher After Post-Aus Jobs Short-Covering
    AUD/NZD rallied from a 4-month low at 1.0404 to 1.0435.
    AUD/USD rally was short-covering as it doesn't change RBA expectations.
    Resistance at 0.7045 while 10-day MA at 0.6991 is support.

    According to the Analysis, pair is expected to find support at 0.69948 and a fall through could take it to the next support level of 0.69811. The pair is expected to find its first resistance at 0.70233, and a rise through could take it to the next resistance level of 0.70381.

    EUR JPY

    EUR traded lower against JPY and closed at 121.15.

    JPY breaking its lows on daily candle as well as weekly candle.
    The losers against the JPY are USD and EUR for now.
    Pretty decent Harmonic patterns found on H4 charts that are in confluence with the Fundamental expects.

    According to the Analysis, pair is expected to find support at 121.038 and a fall through could take it to the next support level of 120.926. The pair is expected to find its first resistance at 121.371, and a rise through could take it to the next resistance level of 121.592.

    For Detailed analysis visit XtreamForex YouTube Channel.

    Comment


    • Technical Overview of EUR/AUD, AUD/JPY and GBP/AUD Currency Pair

      EUR AUD

      EUR traded higher against AUD and closed at 1.5936.
      • Below 200 and 50 EMA.
      • Making a series of Lower Highs and Lower Lows.
      • A Bearish/Resistance Trend line Formed.
      • Better option is to trade the strength of AUD and Remain short.
      • Alternatively
      • Go long if the pair breaches the Resistance Trend Line.
      According to the Analysis, pair is expected to find support at 1.58949 and a fall through could take it to the next support level of 1.58541. The pair is expected to find its first resistance at 1.60044, and a rise through could take it to the next resistance level of 1.60731.

      AUD JPY

      AUD traded higher against JPY and closed at 75.898.According to the Analysis, pair is expected to find support at 75.563 and a fall through could take it to the next support level of 75.227. The pair is expected to find its first resistance at 76.109, and a rise through could take it to the next resistance level of 76.319.

      GBP AUD

      GBP traded higher against AUD and closed at 1.773.
      • Perfect Example of Currency Strength Analysis.
      • Strength of AUD leads the pair to South.
      • The recent bearish News on the Pound supports the movement.
      • It has already breached through Weekly Lows and is below 200 and 50 EMA.
      • For now it's in a Daily Chart Mother bar inside Bar.
      • A break below will be trend continuation.
      According to the Analysis, pair is expected to find support at 1.76797 and a fall through could take it to the next support level of 1.76296. The pair is expected to find its first resistance at 1.77716, and a rise through could take it to the next resistance level of 1.78134.

      For Detailed analysis visit XtreamForex YouTube Channel.

      Comment


      • Technical Overview of EUR/USD, AUD/NZD and EUR/JPY Currency Pair

        EUR USD

        EUR traded higher against USD and closed at 1.1220.

        Below 200 and 50 EMA with the trend towards the down side.
        Making a series of Lower Highs and Lower Lows.
        Stalling in the Weekly Inside bar Pattern.
        Break on either side may lead the trend.
        The most important factor is the Fed rate cut.

        According to the Analysis, pair is expected to find support at 1.1214 and a fall through could take it to the next support level of 1.1207. The pair is expected to find its first resistance at 1.1226, and a rise through could take it to the next resistance level of 1.1231.

        AUD NZD

        AUD traded lower against NZD and closed at 1.0401.

        Below 200 and 50 EMA with the trend towards the down side.
        Making a series of Lower Highs and Lower Lows.
        Broke the Weekly inside Bar Pattern to the down side.
        Broke the low of Monthly candle,
        Any Selling opportunity may be good option.

        According to the Analysis, pair is expected to find support at 1.0383 and a fall through could take it to the next support level of 1.0376. The pair is expected to find its first resistance at 1.0396, and a rise through could take it to the next resistance level of 1.0402.

        EUR JPY

        EUR traded lower against JPY and closed at 120.77.

        Bears in control as they broke the Weekly In sidebar and are to target the bearish ABCD Pattern, heading towards minimum 127 extension.

        ECB steers the market towards more easing later in the year.
        Quantitative Easing and Further rate cut by 10 Basis Points will weaken the EURO.
        This rate cut may occur in September.
        Until then EURO may remain sideways.

        According to the Analysis, pair is expected to find support at 120.94 and a fall through could take it to the next support level of 120.86. The pair is expected to find its first resistance at 121.10, and a rise through could take it to the next resistance level of 121.20.

        For Detailed analysis visit XtreamForex YouTube Channel.

        Comment


        • Technical Overview of EUR/USD and GBP/CHF Currency Pair

          EUR USD

          EUR traded lower against USD and closed at 1.1208.

          EUR/USD - Bears get clear signals ahead of ECB Meet.
          We have break below close below of Daily Ib and Weekly Ib.
          Bollinger bands facing towards south.
          EUR/USD near-term downside limited to channel base 1.1158
          Quiet Trading Expected Ahead Of Key Event Risks
          ECB meeting Thursday and FOMC next week likely be catalysts for breakout.

          According to the Analysis, pair is expected to find support at 1.12013 and a fall through could take it to the next support level of 1.11941. The pair is expected to find its first resistance at 1.12204, and a rise through could take it to the next resistance level of 1.12323.

          GBP CHFFundamentals of the Day

          1) Dollar rises as fears of a 50 point interest-rate cut fade
          The U.S. dollar rose in afternoon trade on Friday as fears of a larger-than-expected 50-basis-point interest rate cut in July abated after the New York Federal Reserve walked back dovish comments from its president the prior day.

          2) ECB Bank Lending Survey3) FPC Meeting Minutes
          Bank of England Financial Policy Committee Minutes is a detailed record of the FPC's most recent meeting. The report, which is released quarterly, provides in-depth insights into the financial conditions and decisions towards financial stability.

          4) Tory Leadership Contest Result Announcement
          The UK Conservative Party is set to announce the results of the vote for its new leadership. UK tories have been voting for weeks and the race has been trimmed to two candidates: Boris Johnson and Jeremy Hunt. The winner of the contest will become the new British Prime Minister, succeeding Theresa May at the Number 10 Downing Street office.

          For Detailed analysis visit XtreamForex YouTube Channel.

          Comment


          • Technical Overview of EUR/USD and GBP/USD Currency Pair

            EUR USD

            EUR traded lower against USD and closed at 1.1121.

            Staying Tactically Bearish For 1.1050; A 50bp Fed Cut Would Be A Game Changer.

            According to the Analysis, pair is expected to find support at 1.12150 and a fall through could take it to the next support level of 1.11543. The pair is expected to find its first resistance at 1.14118, and a rise through could take it to the next resistance level of 1.14725.

            GBP USD

            GBP traded higher against USD and closed at 1.2343.

            To New 2019 Low As EU Affirms No Reopening Of Brexit Deal.

            According to the Analysis, pair is expected to find support at 1.25558 and a fall through could take it to the next support level of 1.24902. The pair is expected to find its first resistance at 1.27682, and a rise through could take it to the next resistance level of 1.28338.

            COT Report for Different Currencies this week

            COT Report for Swisse

            cbs7t-lnuwf.jpg


            Swissie Net Commercials volume is above the 0 mark and in a positive side showing Net Long positions in strength.
            Its a wise decision to remain Long on swissie.

            COT Report for Canadian Dollar

            cbp6g-6l57x.jpg


            Here In Canadian Dollar Net Commercials we see that from the 11th June- 18th June.
            The Canadian Dollar has weighted towards a Net Commercial Short Position.
            Means that Shorting Canadian Will be a wise decision ,Alternatively Going Long on the retracments can also be entertained.

            COT Report for US Dollar

            cb2pt-fmzk0.jpg


            US Dollar Net Commercial Positions Weighs towards the Net Short side.
            It can be clerly seen that from the Year start , the commercials have been interested in shorting the US Dollar.

            COT Report for GBP

            cbykl-kjeam.jpg


            After facing turbulance from 19 March to almost a month, GBP Net commercials weigh towards the Long Net Positions.
            GBP may show some reaction to the COT Report this week.

            For Detailed analysis visit XtreamForex YouTube Channel.
            Attached Files
            Last edited by xtreamforex26; 07-29-2019, 07:45 AM.

            Comment


            • Technical Overview of EUR/USD, AUD/USD and NZD/USD Currency Pair

              EUR USD

              EUR traded higher against USD and closed at 1.1107.

              The ISM Non-Manufacturing Index released by the Institute for Supply Management (ISM) today shows business conditions in the US non-manufacturing sector. It is worth noting that the non-manufacturing sector does not influence, either positively or negatively, the GDP as much as the ISM Manufacturing does. A result above 50 is positive (or bullish) for the USD.

              According to the Analysis, pair is expected to find support at 1.1121 and a fall through could take it to the next support level of 1.1117. The pair is expected to find its first resistance at 1.1130 and a rise through could take it to the next resistance level of 1.1135.

              AUD USD

              AUD traded lower against USD and closed at 0.6799.

              AUD/USD down 0.5% in sympathy with a weakening Yuan as China fights back.
              USD/CNY blasts through pivotal 7.00 as US-China trade tensions escalate.
              Leads to risk aversion in Asia as risk/EM assets sold across board.
              Havens JPY, XAU +0.5%, US-10 year yield hits 1.7890, lowest since Nov 9, 2016.
              Risk barometer AUD/JPY -1% to a new 2019 low; RBA to sound more dovish Tues?

              According to the Analysis, pair is expected to find support at 0.6776 and a fall through could take it to the next support level of 0.6768. The pair is expected to find its first resistance at 0.6789, and a rise through could take it to the next resistance level of 0.6794.

              NZD USD
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              Comment


              • Technical Overview of AUD/USD, GBP/USD and USD/JPY Currency Pair

                AUD USD

                AUD traded lower against USD and closed at 0.6756.
                • AUD/USD remains upbeat as the RBA renounce from the policy change.
                • The central bank stepped back from suggesting further rate cuts.
                • Trade/political news will be followed for fresh impulse.
                According to the report of The Reserve Bank of Australia (RBA), there will be no change in the monetary policy, offers a 1.0% interest rate. The central bank avoid from supporting further rate cuts while leaving the door open based on future growth conditions. Earlier during the day, upbeat trade balance data for June also pleased Aussie buyers.
                According to the Analysis, pair is expected to find support at 0.678 and a fall through could take it to the next support level of 0.677. The pair is expected to find its first resistance at 0.6797 and a rise through could take it to the next resistance level of 0.6803.

                GBP USD

                GBP traded higher against USD and closed at 1.2143.
                • GBP/USD stays on defensive 100 hour exponential moving average.
                • 4-day old support-line seems immediate rest ahead of 1.2080.
                According to the Analysis, pair is expected to find support at 1.2101 and a fall through could take it to the next support level of 1.2057. The pair is expected to find its first resistance at 1.2189, and a rise through could take it to the next resistance level of 1.2233.

                USD JPY

                USD traded higher against JPY and closed at 105.9500.

                The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time. GDP is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing. A high reading or a better than expected number is seen as positive for the JPY, while a low reading is negative.
                • Previous reading for Gross Domestic Product was 0.6%.
                • Expected GDP is 0.1%.
                According to the Analysis, pair is expected to find support at 106.43 and a fall through could take it to the next support level of 106.17. The pair is expected to find its first resistance at 107.02, and a rise through could take it to the next resistance level of 107.36.

                Comment


                • Technical Overview of NZD/USD, EUR/USD and USD/CNY Currency Pair

                  NZD USD

                  NZD traded lower against USD and closed at 0.6446.
                  • Lower than expected USD/CNY fix and comments from RBNZ calming markets.
                  • RBNZ asst Governor Hawkes by is confident inflation will rise after 50 BP cut.
                  • Hawkes by said unconventional tools an option only if inflation tanks.
                  • NZD/USD resistance at former support at 0.6480/90 where sellers are tipped.
                  The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time. GDP is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing. A high reading or a better than expected number is seen as positive for the JPY, while a low reading is negative. According To consensus GDP rate is expected to be lower than previous rate.

                  According to the Analysis, pair is expected to find support at 0.6455 and a fall through could take it to the next support level of 0.6452. The pair is expected to find its first resistance at 0.6461 and a rise through could take it to the next resistance level of 0.6463.

                  EUR USD

                  EUR traded higher against USD and closed at 1.1199.

                  Danske Research discusses EUR/USD outlook and expects a dip back towards 1.10 in EUR/USD on 1-3M on yet another Fed disappointment in September.

                  According to the Analysis, pair is expected to find support at 1.1211 and a fall through could take it to the next support level of 1.1209. The pair is expected to find its first resistance at 1.1214, and a rise through could take it to the next resistance level of 1.1216.

                  USD CNY

                  Comment


                  • Technical Overview of AUD/USD, GBP/USD and USD/CAD Currency Pair

                    AUD USD

                    AUD traded lower against USD and closed at 0.6802.
                    • RBA quarterly SOMP just released is in line with dovish market assumptions
                    • RBA said economic forecasts based on market pricing nRUA8JEF6D
                    • RBA notes the downside risks posed by US-China trade war escalation
                    • AUD/USD off early high (0.6822), but still holding above 0.6800
                    The RBA Monetary Policy Statement released by the Reserve bank of Australia reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. It is considered as a clear guide to the future RBA interest rate policy. Any changes in this report affect the AUD volatility. If the RBA statement shows a hawkish outlook, that is seen as positive (or bullish) for the AUD, while a dovish outlook is seen as negative (or bearish).
                    According to the Analysis, pair is expected to find support at 0.6713 and a fall through could take it to the next support level of 0.6666. The pair is expected to find its first resistance at 0.6789 and a rise through could take it to the next resistance level of 0.6818.

                    GBP USD

                    GBP traded higher against USD and closed at 1.2133.

                    The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).

                    According to the Analysis, pair is expected to find support at 1.2113 and a fall through could take it to the next support level of 1.2082. The pair is expected to find its first resistance at 1.2182, and a rise through could take it to the next resistance level of 1.2221.

                    USD CAD

                    USD traded lower against CAD and closed at 1.3227.

                    The employment Change released by the Statistics Canada is a measure of the change in the number of employed people in Canada. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive, or bullish for the CAD, while a low reading is seen as negative or bearish.

                    The Unemployment Rate released by the Statistics Canada is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the Canadian Economy. If the rate is up, it indicates a lack of expansion within the Canadian labor market. As a result, a rise leads to weaken the Canadian economy. Normally, a decrease of the figure is seen as positive (or bullish) for the CAD, while an increase is seen as negative or bearish.

                    According to the Analysis, pair is expected to find support at 1.3279 and a fall through could take it to the next support level of 1.3251. The pair is expected to find its first resistance at 1.334, and a rise through could take it to the next resistance level of 1.3373.

                    Comment


                    • Technical Overview of USD/JPY, NZD/USD and USD/CHF Currency Pair

                      USD JPY

                      USD traded lower against JPY and closed at 105.6900.
                      • USD/JPY: Bears staying in control in the Asian session.
                      • USD/JPY4-hour chart: The pair is also at risk of extending its decline,
                      USD/JPY has lost some ground as the yen takes up another bid while geopolitics keep the yen bulls in business ahead of a key week on the US calendar.
                      According to the Analysis, pair is expected to find support at 105.3 and a fall through could take it to the next support level of 104.92. The pair is expected to find its first resistance at 106.04 and a rise through could take it to the next resistance level of 106.39.

                      NZD USD

                      NZD traded lower against USD and closed at 0.6468.
                      • NZD/USD jumps 20 pips on comments by New Zealand's Treasury that QE is less appealing.
                      • Treasury feels RBNZ could cut rates to the negative territory if required.

                      NZD/USD is recovering lost ground on comments by New Zealand's Treasury that asset purchases or quantitative easing (QE) are a less appealing tool of monetary easing.

                      According to the Analysis, pair is expected to find support at 0.6402 and a fall through could take it to the next support level of 0.6359. The pair is expected to find its first resistance at 0.6478, and a rise through could take it to the next resistance level of 0.6512.

                      USD CHF

                      USD traded lower against CHF and closed at 0.9727.
                      • USD/CHF's 4-hour and daily charts are showing signs of seller exhaustion.
                      • The pair could rise to the 10-day moving average resistance during the day ahead.
                      USD/CHF could see a corrective bounce to the 10-day moving average (MA) of 1.0938 during the day ahead as technical charts are flashing early signs of a bearish-to-bullish trend change.

                      According to the Analysis, pair is expected to find support at 0.9703 and a fall through could take it to the next support level of 0.9680. The pair is expected to find its first resistance at 0.9755, and a rise through could take it to the next resistance level of 0.9784.

                      Comment


                      • Technical Overview of EUR/USD, GBP/USD and AUD/USD Currency Pair

                        EUR USD

                        EUR traded higher against USD and closed at 1.1169.
                        • EUR/USD aims to revisit 4H 100MA after taking another U-turn from near-term resistance-line.
                        • While 1.1283/87 can please buyers during upside break, 23.6% Fibonacci retracement can lure during post-1.1158 declines.
                        The Gross Domestic Product released by the Statistisches Bundesamt Deutschland is a measure of the total value of all goods and services produced by Germany. The GDP is considered as a broad measure of the German economic activity and health. A high reading or a better than expected number has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).

                        The Gross Domestic Product released by the Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).

                        The Gross Domestic Product released by the Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).

                        According to the Analysis, pair is expected to find support at 1.1170 and a fall through could take it to the next support level of 1.1156. The pair is expected to find its first resistance at 1.1214 and a rise through could take it to the next resistance level of 1.1228.

                        GBP USD

                        GBP traded lower against USD and closed at 1.2058.
                        • GBP/USD remains on a back foot amid recent UK political news.
                        • Rebel MPs readying for early-September action.
                        • UK CPI, trade/political news in the spotlight.

                        The Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or Bearish).

                        According to the Analysis, pair is expected to find support at 1.2046 and a fall through could take it to the next support level of 1.2033. The pair is expected to find its first resistance at 1.2090, and a rise through could take it to the next resistance level of 1.2103.

                        AUD USD

                        AUD traded lower against USD and closed at 0.6800.The Employment Change released by the Australian Bureau of Statistics is a measure of the change in the number of employed people in Australia. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).

                        The Unemployment Rate release by the Australian Bureau of Statistics is the number of unemployed workers divided by the total civilian labor force. If the rate hikes, indicates a lack of expansion within the Australian labor market. As a result, a rise leads to weaken the Australian economy. A decrease of the figure is seen as positive (or bullish) for the AUD, while an increase is seen as negative (or bearish).

                        According to the Analysis, pair is expected to find support at 0.6760 and a fall through could take it to the next support level of 0.6743. The pair is expected to find its first resistance at 0.6814, and a rise through could take it to the next resistance level of 0.6831.

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                        Comment


                        • Technical Overview of AUD/USD, USD/JPY and USD/CHF Currency Pair

                          AUD USD

                          AUD traded higher against USD and closed at 0.6747.
                          • AUD/USD maintaining bid tone as markets send mixed signals regarding risk.
                          • US yields hitting historic lows in Asia with 30-year yield below 2.0%.
                          • Bond market is pricing in strong chance of recession nL4N25B0GG.
                          • Despite moves in US Treasuries. S&P futures up over 0.40%.
                          • AUD/USD steady around 0.6775 - up 0.41% after better than expected Aus jobsnAZN0QH300.
                          • Unless bond market wrong, AUD/USD should struggle on global growth concerns.
                          • AUD/USD resistance at 0.6820/35 where daily highs converge with 38.2 fibo.

                          According to the Analysis, pair is expected to find support at 0.6738 and a fall through could take it to the next support level of 0.6721. The pair is expected to find its first resistance at 0.6794 and a rise through could take it to the next resistance level of 0.6811.

                          USD JPY

                          USD traded lower against JPY and closed at 105.89.

                          Retail Sales m/m reflect a change in the US retail sails in the reported month compared to the previous one. The indicator is calculated based on statistics received from 5,000 retail stores of different types and sizes, and the data are then extrapolated to the whole country.
                          The indicator is used for estimating inflation. Its growth may have a positive effect on dollar quotes.

                          According to the Analysis, pair is expected to find support at 105.70 and a fall through could take it to the next support level of 105.48. The pair is expected to find its first resistance at 106.44, and a rise through could take it to the next resistance level of 106.66.

                          USD CHF

                          USD traded higher against CHF and closed at 0.9732.

                          According to the Analysis, pair is expected to find support at 0.9712 and a fall through could take it to the next support level of 0.9697. The pair is expected to find its first resistance at 0.9762, and a rise through could take it to the next resistance level of 0.9777.

                          According to Citi Research report "With risk sentiment continuing to deteriorate by the week, investors may look to extend risk aversion trades into 2020 as:

                          Comment


                          • Technical Overview of USD/CAD, USD/JPY and EUR/USD Currency Pair

                            USD CADUSD JPY

                            USD traded lower against JPY and closed at 106.62.

                            FOMC stands for The Federal Open Market Committee that organizes 8 meetings in a year and reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. FOMC Minutes are released by the Board of Governors of the Federal Reserve and are a clear guide to the future US interest rate policy.

                            According to the Analysis, pair is expected to find support at 106.36 and a fall through could take it to the next support level of 106.25. The pair is expected to find its first resistance at 106.70, and a rise through could take it to the next resistance level of 106.81.

                            EUR USD

                            EUR traded higher against USD and closed at 1.1087.

                            According to the Analysis, pair is expected to find support at 1.1075 and a fall through could take it to the next support level of 1.1066. The pair is expected to find its first resistance at 1.1105, and a rise through could take it to the next resistance level of 1.1114.

                            Comment


                            • Technical Overview of GBP/USD, NZD/USD and USD/CHF Currency Pair

                              GBP USD

                              GBP traded lower against USD and closed at 1.2130.

                              GBP/USD seesaws inside a choppy range between 10 and 21-DMA.
                              MACD flashes bullish signal.

                              The Jackson Hole Economic Policy Symposium is an annual symposium sponsored by the Federal Reserve Bank of Kansas City since 1978, and held in Jackson Hole, Wyoming, since 1981. It is a forum for central bankers, policy experts and academics to come together to focus on a topic.

                              According to the Analysis, pair is expected to find support at 1.2108 and a fall through could take it to the next support level of 1.2086. The pair is expected to find its first resistance at 1.2156 and a rise through could take it to the next resistance level of 1.2181.

                              NZD USD

                              NZD traded lower against USD and closed at 0.6404.

                              Retail Sales m/m reflect a change in New Zealand's retail sales in the reported month compared to the previous one. The calculation is adjusted for inflation. The index is often referred to as the consumer spending indicator, which allows assessing inflation in New Zealand. The indicator growth can have a positive effect on NZD quotes.

                              Jerome H. Powell took office as a member of the Board of Governors of the Federal Reserve System on May 25, 2012, to fill an unexpired term. On November 2, 2017, President Donald Trump nominated Powell to serve as the next Chairman of the Federal Reserve. Powell assumed office as Chair on February 5, 2018.

                              According to the Analysis, pair is expected to find support at 0.6393 and a fall through could take it to the next support level of 0.6381. The pair is expected to find its first resistance at 0.6418, and a rise through could take it to the next resistance level of 0.6431.

                              USD CHF

                              EUR traded higher against USD and closed at 0.9819.

                              The number of New Home Sales released by the US Census Bureau is an important measure of housing market conditions. House buyers spend money on furnishing and financing their homes so as a result the demand for goods, services and the employees is stimulated. Generally, a high reading is seen as bullish for the USD, whereas a low reading is seen as bearish.

                              According to the Analysis, pair is expected to find support at 0.9790 and a fall through could take it to the next support level of 0.9868. The pair is expected to find its first resistance at 0.9848, and a rise through could take it to the next resistance level of 0.9868.

                              Comment


                              • Technical Overview of EUR/USD, USD/CAD and AUD/USD Currency Pair

                                EUR USD

                                EUR traded lower against USD and closed at 1.1102.

                                EUR/USD failed to confirm a bullish reversal with a close above 1.1153 on Monday.
                                German GDP is expected to have contracted by 0.1% in the second quarter.

                                HICP is an index of consumer prices calculated and published by Destatis, the Statistical Office of the European Union, on the basis of a statistical methodology that has been harmonized across all EU member states. HICP is a measure of prices used by Governing Council of EU to define and assess price stability in the euro area as a whole in quantitative terms.

                                According to the Analysis, pair is expected to find support at 1.1079 and a fall through could take it to the next support level of 1.1057. The pair is expected to find its first resistance at 1.1138 and a rise through could take it to the next resistance level of 1.1175.

                                USD CAD

                                USD traded lower against CAD and closed at 1.3254.

                                The Gross Domestic Product Annualized released by the US Bureau of Economic Analysis shows the monetary value of all the goods, services and structures produced within a country in a given period of time. GDP Annualized is a gross measure of market activity because it indicates the pace at which a country's economy is growing or decreasing. Generally speaking, a high reading or a better than expected number is seen as positive for the USD, while a low reading is negative.

                                According to the Analysis, pair is expected to find support at 1.3229 and a fall through could take it to the next support level of 1.3203. The pair is expected to find its first resistance at 1.3298, and a rise through could take it to the next resistance level of 1.3342.

                                AUD USD

                                AUD traded higher against CAD and closed at 0.6775.

                                The Aussie ignored upbeat Chinese data and risk-on trades on the Asian stocks. Focus remains on trade and US data.

                                According to the Analysis, pair is expected to find support at 0.6732 and a fall through could take it to the next support level of 0.6713. The pair is expected to find its first resistance at 0.6774, and a rise through could take it to the next resistance level of 0.6797.

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