XtreamForex Daily Technical Analysis

xtreamforex26

Trader
Feb 25, 2019
73
0
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34
Technical Overview of EUR/USD, NZD/USD and USD/JPY Currency Pairs

EUR USD

The EUR traded lower against the USD and closed at 1.1234.

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, The pair is expected to find support at 1.11975, and a fall through could take it to the next support level of 1.11613. The pair is expected to find its first resistance at 1.12577, and a rise through could take it to the next resistance level of 1.12817.

Previous Day range was 60.2 and Current Day Range is 14.
NZD USD

The NZD traded lower against the USD and closed at 0.6804.

Electronic Card Retail Sales m/m reflect a percentage change in electronic card transactions over the reported month compared to the previous one. The indicator can be used in the estimation of consumer spendings and economic activity.

The indicator values are seasonally adjusted and can be revised on a monthly basis, while monthly movements can fluctuate.

The pair is expected to find support at 0.67648, and a fall through could take it to the next support level of 0.67251. The pair is expected to find its first resistance at 0.68272, and a rise through could take it to the next resistance level of 0.68499.

NZD USD previous Day range was 62.4 and Current Day Range is 19.8.

USD JPY

The USD traded little lower against JPY and closed at 111.168.

According to the analysis, pair is expected to find support at 110.761, and a fall through could take it to the next support level of 110.353. The pair is expected to find its first resistance at 111.612, and a rise through could take it to the next resistance level of 112.055.

USD JPY previous day range was 8510 and current day range is 2750.
 

xtreamforex26

Trader
Feb 25, 2019
73
0
17
34
Technical Overview of GBP/USD, AUD/USD and USD/CHF Currency Pairs

GBP USD

The GBP traded higher against the USD and closed at 1.3149.

· GBP/USD struggles to hold recent strength as it trades near 1.3220 ahead of London open on Tuesday.
· The pair rose to 1.3290 during early-day increase after Brexit optimists welcomed the meeting between the UK PM Theresa May and the EU Commission Chief Jean-Claude Juncker.

The UK Parliament will decide whether the UK PM May's Brexit Plan is valid or not. In the case the Parliament don't approve it, chances of a hard Brexit will increase exponentially.

Nothing is more important this week than the Brexit votes on Tuesday, Wednesday and possibly also Thursday. There's no exact time for the vote but it will be after the debates, which usually end evening time in the UK. That puts a vote somewhere after 18/19 GMT or 2pm/3pm NY time. It could be even later but it shouldn't be earlier than 18 GMT. This week's vote will determine 3 things -
  1. Will the UK accept the EU's withdrawal agreement
  2. Will the UK rule out leaving with no deal
  3. Will Article 50 be extended?
According to the Analysis, The pair is expected to find support at 1.30160, and a fall through could take it to the next support level of 1.28829. The pair is expected to find its first resistance at 1.32251, and a rise through could take it to the next resistance level of 1.33011.

Previous Day range was 209.1 and Current Day Range is 139.3.

AUD USD

The AUD traded higher against the USD and closed at 0.7068.

FED Chair Speech affects USD depending on the speech rhetoric. If the speech is seen as an intention to raise the rates at the next FOMC meeting, this has a positive impact on USD and vice versa.

]The FED Chair's statements have the greatest impact on the market compared to other members of the FED Board of Governors.

The pair is expected to find support at 0.70375, and a fall through could take it to the next support level of 0.70069. The pair is expected to find its first resistance at 0.70876, and a rise through could take it to the next resistance level of 0.71071.

AUD USD previous Day range was 50.1 and Current Day Range is 22.8.

USD CHF

The USD traded little higher against CHF and closed at 1.0105.
According to the analysis, pair is expected to find support at 1.00768, and a fall through could take it to the next support level of 1.00483. The pair is expected to find its first resistance at 1.01266, and a rise through could take it to the next resistance level of 1.01479.

USD CHF previous day range was 49.8 and current day range is 14.
 

xtreamforex26

Trader
Feb 25, 2019
73
0
17
34
Technical Overview of GBP/USD, EUR/USD and USD/CAD Currency Pairs
GBP USD


The GBP traded higher against the USD and closed at 1.3068.
Overnight, it was another loss for UK Prime Minister May which now means lawmakers are likely to push for a delay to the 29 March deadline. However, 149-vote loss sets the bar seriously high for Theresa May to turn the tables around.

Spring Forecast Statement is a statement made annually by HM Treasury to Parliament upon publication of economic forecasts.
The statement features analysis of the economic situation in the UK and in the world, describes economic outlooks and provides previews of the government budget for the next year.

The event has a short-term impact on financial markets depending on the HM Treasury rhetoric. Positive outlooks have a positive impact on the pound sterling.

According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.29535, and a fall through could take it to the next support level of 1.28386. The pair is expected to find its first resistance at 1.32341, and a rise through could take it to the next resistance level of 1.33998.

Previous Day range was 280.6 and Current Day Range is 30.6.

EUR USD

The EUR traded lower against the USD and closed at 1.1287.

The Nondefense Capital Goods Orders Excluding Aircraft, released by the US Census Bureau, measures the cost of orders received by manufacturers for capital goods (capital goods are durable goods used in the production of goods or services), which means goods planned to last for three years or more, excluding the defense and aircraft sectors. As those durable products often involve large investments they are sensitive to the US economic situation. Generally speaking, a high reading is bullish for the USD, while a low reading is seen as Bearish.

The pair is expected to find support at 1.12530, and a fall through could take it to the next support level of 1.12185. The pair is expected to find its first resistance at 1.13133, and a rise through could take it to the next resistance level of 1.13391.

EUR USD previous Day range was 60.3 and Current Day Range is 6.8.

USD CAD

The USD traded little higher against CAD and closed at 1.3353.
Core Durable Goods Orders m/m reflect the value of orders received by manufacturers of durable goods in the given month compared to the previous one. The production of transport industry is excluded from the calculation.

The index allows forecasting future production volumes in the short term.
The value growth can have a positive effect on dollar quotes.

According to the analysis, pair is expected to find support at 1.33307, and a fall through could take it to the next support level of 1.33089. The pair is expected to find its first resistance at 1.33957, and a rise through could take it to the next resistance level of 1.34389.

USD CAD previous day range was 65 and current day range is 21.1.
 

xtreamforex26

Trader
Feb 25, 2019
73
0
17
34
Technical Overview of EUR/USD, GBP/USD and USD/CHF Currency Pairs

EUR USD
The EUR traded Higher against the USD and closed at 1.122.

The New Home Sales indicator reflects sales of newly constructed residences in the United States in the specified month. It measures new single-family home sales.

The indicator is used for measuring the US housing market conditions. Index growth may have a positive effect on dollar quotes.
According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.12023, and a fall through could take it to the next support level of 1.11848. The pair is expected to find its first resistance at 1.12492, and a rise through could take it to the next resistance level of 1.12786.

Previous Day range was 46.9 and Current Day Range is 16.3.

GBP USD
The GBP traded higher against the USD and closed at 1.304.

United Kingdom Gross Domestic Product q/q is the key indicator of the national economy growth. The index shows changes in the market value of goods and services produced in the country in the given quarter compared to the previous quarter. The GDP is calculated using statistical information (using national economic indicators), forecast models and expert evaluations.
GDP growth can be seen as positive for the pound sterling.

The pair is expected to find support at 1.29794, and a fall through could take it to the next support level of 1.29186. The pair is expected to find its first resistance at 1.31551, and a rise through could take it to the next resistance level of 1.32700.

GBP USD previous Day range was 175.7 and Current Day Range is 34.8.

USD CHF


The USD traded higher against CHF and closed at 0.9956.

According to the analysis, pair is expected to find support at 0.99365, and a fall through could take it to the next support level of 0.99169. The pair is expected to find its first resistance at 0.99744, and a rise through could take it to the next resistance level of 0.99927.

USD CHF previous day range was 37.9 and current day range is 15.7.
 

xtreamforex26

Trader
Feb 25, 2019
73
0
17
34
Technical Overview of AUD/USD, USD/JPY and NZD/USD Currency Pairs

AUD USD

The AUD traded lower against the USD and closed at 0.7111.

Decisions regarding this interest rate are made by the Reserve Bank Board, and are explained in a media release which announces the decision at 2.30 pm after each Board meeting.

RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.

According to the Analysis, The pair is expected to find support at 0.70994, and a fall through could take it to the next support level of 0.70874. The pair is expected to find its first resistance at 0.71275, and a rise through could take it to the next resistance level of 0.71436.

Previous Day range was 28.1 and Current Day Range is 47.5.

USD JPY

The USD traded higher against the JPY and closed at 111.342.

The Nondefense Capital Goods Orders Excluding Aircraft, released by the US Census Bureau, measures the cost of orders received by manufacturers for capital goods (capital goods are durable goods used in the production of goods or services), which means goods planned to last for three years or more, excluding the defense and aircraft sectors. As those durable products often involve large investments they are sensitive to the US economic situation. Generally speaking, a high reading is bullish for the USD, while a low reading is seen as Bearish.

The pair is expected to find support at 110.967, and a fall through could take it to the next support level of 110.593. The pair is expected to find its first resistance at 111.577, and a rise through could take it to the next resistance level of 111.813.

USD JPY previous Day range was 6100 and Current Day Range is 1640.

NZD USD

The NZD traded lower against USD and closed at 0.6805.
According to the analysis, pair is expected to find support at 0.67931, and a fall through could take it to the next support level of 0.67815. The pair is expected to find its first resistance at 0.68267, and a rise through could take it to the next resistance level of 0.68487.

NZD USD previous day range was 33.6 and current day range is 27.5.
 

xtreamforex26

Trader
Feb 25, 2019
73
0
17
34
Technical Overview of USD/CHF, AUD/USD and USD/JPY Currency Pairs

USD CHF

The USD traded lower against the CHF and closed at 0.9981.
Nonfarm Payrolls present the number of new jobs created during the given month, in all non-agricultural sectors of the U.S.

The indicator growth can have a positive effect on dollar quotes.
According to the Analysis, The pair is expected to find support at 0.99606, and a fall through could take it to the next support level of 0.99400. The pair is expected to find its first resistance at 0.99946, and a rise through could take it to the next resistance level of 1.00080.

Previous Day range was 34 and Current Day Range is 16.6.

AUD USD
The AUD traded higher against the USD and closed at 0.7112.

The Average Hourly Earnings released by the US Department of Labor is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.

The pair is expected to find support at 0.70675, and a fall through could take it to the next support level of 0.70231. The pair is expected to find its first resistance at 0.71428, and a rise through could take it to the next resistance level of 0.71737.

AUD USD previous Day range was 75.3 and Current Day Range is 17.8.

USD JPY
The USD traded lower against JPY and closed at 111.482.

According to the analysis, pair is expected to find support at 111.271, and a fall through could take it to the next support level of 111.060. The pair is expected to find its first resistance at 111.632, and a rise through could take it to the next resistance level of 111.782.

USD JPY previous day range was 3610 and current day range is 1630.
 

xtreamforex26

Trader
Feb 25, 2019
73
0
17
34
Technical Overview of EUR/USD, NZD/USD and GBP/USD Currency Pairs

EUR USD

The EUR traded higher against the USD and closed at 1.122.
Nonfarm Payrolls present the number of new jobs created during the given month, in all non-agricultural sectors of the U.S.

The indicator growth can have a positive effect on dollar quotes.
According to the Analysis, The pair is expected to find support at 1.12015, and a fall through could take it to the next support level of 1.11832. The pair is expected to find its first resistance at 1.12427, and a rise through could take it to the next resistance level of 1.12656.

Previous Day range was 41.2 and Current Day Range is 11.6.

NZD USD

The NZD traded higher against the USD and closed at 0.6752.

The Average Hourly Earnings released by the US Department of Labor is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.

The pair is expected to find support at 0.67336, and a fall through could take it to the next support level of 0.67150. The pair is expected to find its first resistance at 0.67850, and a rise through could take it to the next resistance level of 0.68178.

NZD USD previous Day range was 51.4 and Current Day Range is 15.1.

GBP USD

The GBP traded higher against USD and closed at 1.3071.

According to the analysis, pair is expected to find support at 1.30236, and a fall through could take it to the next support level of 1.29759. The pair is expected to find its first resistance at 1.31539, and a rise through could take it to the next resistance level of 1.32365.

GBP USD previous day range was 130.3 and current day range is 23.5.
 

xtreamforex26

Trader
Feb 25, 2019
73
0
17
34
Gold Prices moves around $1300 as Bulls concentrates on Geopolitics

The news reports signaling the US-EU trade rift and likely renewed geopolitical tensions between the US and Saudi Arabia triggered risk-off.
Buyers target 50-day SMA during further upside.

Gold prices are taking the rounds near $1297 early on Tuesday as investors give more emphasis to the latest news reports signaling an increase in global geopolitical tension.

According to the analysis XAUUSD.x pair is expected to find support at 1291.14 and a fall through could take it to the next support level of 1285.14. The pair is expected to find its first resistance at 1303.41, and a rise through could take it to the next resistance level of 1309.68.

Previous Day range was 12.27 and Current Day Range is 34800.

The yellow metal rose to a two-week high on Monday as conflict in Libya and the US President’s another hit to Iran grabbed market concentration. Headlines regarding the Libyan National Army’s March to obtain the capital Tripoli and Donald Trump declaring Iran's revolutionary guard as a terrorist organization helped the Gold to remain strong yesterday.

During early Tuesday, investors welcomed the development from the UK that favored an amendment rejecting no-deal Brexit.
However, the hopefulness couldn’t last long after the Financial Times reported that the US is proposing tariffs worth $11 billion on the EU products, as well as the Airbus.

The risk-off sentiment got supplementary support when the Trump administration announced a ban on 16 Saudi nationals from entering the U.S. due to their roles in the murder of journalist Jamal Khashoggi. Saudi Arabia is still to respond to the ban and may generate news reports during the day.

Yields on the US 10-year note remained unchanged near 2.519%.
Investors may now concentrate more on the qualitative catalysts like Brexit and the geopolitical plays including the US.
 

xtreamforex26

Trader
Feb 25, 2019
73
0
17
34
Technical Overview of EUR/USD, GBP/USD and AUD/USD Currency Pairs

EUR USD

The EUR traded higher against the USD and closed at 1.1298.

The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).
According to the Analysis, The pair is expected to find support at 1.12584, and a fall through could take it to the next support level of 1.12189. The pair is expected to find its first resistance at 1.13304, and a rise through could take it to the next resistance level of 1.13629.

Previous Day range was 72 and Current Day Range is 15.

GBP USD

The GBP traded higher against the USD and closed at 1.3071.

The Average Earing Excluding Bonus released by the National Statistics is a key short-term indicator of how levels of pay are changing within the UK economy. It can be seen as a measure of growth in "basic pay". Generally speaking, the positive earnings growth anticipates positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).

The ILO Unemployment Rate released by the National Statistics is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the UK Economy. If the rate is up, it indicates a lack of expansion within the U.K. labor market. As a result, a rise leads to weaken the U.K. economy. Generally, a decrease of the figure is positive (or bullish) for the GBP, while an increase is negative.

The pair is expected to find support at 1.30368, and a fall through could take it to the next support level of 1.30023. The pair is expected to find its first resistance at 1.31180, and a rise through could take it to the next resistance level of 1.31647.

GBP USD previous Day range was 81.2 and Current Day Range is 32.2.

AUD USD

The AUD traded higher against USD and closed at 0.7171.

The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.
According to the analysis, pair is expected to find support at 0.71273, and a fall through could take it to the next support level of 0.70835. The pair is expected to find its first resistance at 0.72035, and a rise through could take it to the next resistance level of 0.72359.

AUD USD previous day range was 76.2 and current day range is 15.9.
 

xtreamforex26

Trader
Feb 25, 2019
73
0
17
34
Technical Overview of EUR/USD, USD/JPY and NZD/USD Currency Pairs

EUR USD

The EUR traded lower against the USD and closed at 1.1257.

The Ifo Business Climate Index reflects the current economic situation and forecasts for the next six months from the point of view of German companies. The indicator is compiled based on a survey of more than seven thousand companies. A higher than expected reading is seen as favorable for the euro quotes, while lower readings are seen as negative.

According to the Analysis, The pair is expected to find support at 1.12411, and a fall through could take it to the next support level of 1.12254. The pair is expected to find its first resistance at 1.12672, and a rise through could take it to the next resistance level of 1.12776.

Previous Day range was 26.1 and Current Day Range is 15.8.

USD JPY

The USD traded lower against the JPY and closed at 111.931.

The New Home Sales indicator reflects sales of newly constructed residences in the United States in the specified month. It measures new single-family home sales.

The indicator is used for measuring the US housing market conditions. Index growth may have a positive effect on dollar quotes.

The pair is expected to find support at 111.851, and a fall through could take it to the next support level of 111.772. The pair is expected to find its first resistance at 112.000, and a rise through could take it to the next resistance level of 112.070.

USD JPY previous Day range was 1490 and Current Day Range is 3240.

NZD USD

The NZD traded lower against USD and closed at 0.6677.

According to the analysis, pair is expected to find support at 0.66701, and a fall through could take it to the next support level of 0.66629. The pair is expected to find its first resistance at 0.66870, and a rise through could take it to the next resistance level of 0.66967.

NZD USD previous day range was 16.9 and current day range is 13.
 

xtreamforex26

Trader
Feb 25, 2019
73
0
17
34
Technical Overview of CAD/CHF, GBP/AUD, USD/CHF and GBP/CAD Currency Pairs
CAD CHF

cb7bc-j7ete.jpg

The CAD traded lower against the CHF and closed at 0.7575.
CAD CHF formed a Mother Bar Inside Bar @ the Quarterly and Yearly Pivots.
It's in a range now.

Scenario 1: In order to Go Bullish it needs to Break the upper Mother Bar High of 0.76000 and make a retest with LOW VOLUME to ensure that all supply from market is over.

Scenario 2: In order to be bearish it needs to push through the Quarterly /Yearly Pivots (0.75469) then the Low of Mother Br, A successful test with LOW VOLUME is required to ensure that all Demand has ended...

According to the Analysis, The pair is expected to find support at 0.75586, and a fall through could take it to the next support level of 0.75425. The pair is expected to find its first resistance at 0.75897, and a rise through could take it to the next resistance level of 0.76047.

Previous Day range was 31.1 and Current Day Range is 16.2.
GBP AUD
cbu2g-idpwt.jpg

The GBP traded lower against the AUD and closed at 1.8337.
GBPAUD formed a Mother Bar Inside Bar @ the Yearly Pivots Middle R1
It's in a range now.

Scenario 1: In order to Go Bullish it needs to Break the upper Mother Bar High of 1.8448 and make a retest with LOW VOLUME to ensure that all supply from market is Over .

Scenario 2: In order to be bearish it needs to push through the Quarterly (1.8275) then the Low of Mother Bar, (1.8200)
Break Below Quarter Pivot may confluence with the Previous Day Candle Low Broken .A successful test with LOW VOLUME is required to ensure that all Demand has ended...

The pair is expected to find support at 1.82996, and a fall through could take it to the next support level of 1.82621. The pair is expected to find its first resistance at 1.83840, and a rise through could take it to the next resistance level of 1.84309.

GBP AUD previous Day range was 84.4 and Current Day Range is 38.7.

USD CHF
cb1qy-n5niq.jpg

The USD traded lower against CHF and closed at 1.0197.

USDCHF formed a Mother Bar Inside Bar @ the Quarterly and Yearly Pivots.
It's in a range now.

Scenario 1: In order to Go Bullish it needs to Break the upper Mother Bar High + MQR2 1.0241 and make a retest with LOW VOLUME to ensure that all supply from market is Over .

Scenario 2: In order to be bearish it needs to push through the Quarterly Resistance (1.0143) the Low of Mother Bar is the almost the same value, A successful test with LOW VOLUME is required to ensure that all Demand has ended...

The Pair has been in range between Pivots since 7 days

According to the analysis, pair is expected to find support at 1.01754, and a fall through could take it to the next support level of 1.01534. The pair is expected to find its first resistance at 1.02280, and a rise through could take it to the next resistance level of 1.02586.

USD CHF previous day range was 52.6 and current day range is 12.

GBP CAD
cbqg8-r9324.jpg

The GBP traded higher against CAD and closed at 1.7384.
GBPCAD formed a Multiple Mother Bar in side Bar It's in a range now.
Its in a range of Pivots ( Quarterly and Yearly ) 1.7315-1.7463

The Pair has been In range between Pivots since 19 days
Once breakout occurs The pair may lead to a prominent trend

According to the analysis, pair is expected to find support at 1.73558, and a fall through could take it to the next support level of 1.73274. The pair is expected to find its first resistance at 1.74190, and a rise through could take it to the next resistance level of 1.74680.

GBP CAD previous day range was 63.2 and current day range is 22.
 

xtreamforex26

Trader
Feb 25, 2019
73
0
17
34
Technical Overview of GBP/USD, GBP/JPY and NZD/USD Currency Pairs

GBP USD

The GBP traded higher against the USD and closed at 1.3029.
The pair formed an Outside/Inside bar. Exactly on the monthly Pivot with a series of LH and LL

It formed a Fibonacci setup called AB=CD.
Scenario 1=A break above the Outside bar high and trend line may trigger bullish momentum.

Scenario 2- A break below the outer bar low and trend line may lead the pair downwards.
Employment Report for April increased by nearly 200,000 in March, while unemployment rate stood steady at 3.8 percent. The ISM Non-Manufacturing PMI for April rate of the services sector expansion slowed down in March, but the index remains at an elevated level of slightly more than 56 percent.

According to the Analysis, The pair is expected to find support at 1.30043, and a fall through could take it to the next support level of 1.29800. The pair is expected to find its first resistance at 1.30667, and a rise through could take it to the next resistance level of 1.31048.

GBP USD Previous Day range was 62.4 and Current Day Range is 23.6.

GBP JPY

The GBP traded higher against the JPY and closed at 145.235.
The pair formed an Outside/Inside bar. Exactly on the monthly AND yearly Pivot with a series of LH and LL

It formed a Fibonacci setup called AB=CD
Scenario 1=A break above the Outside bar high and trend line may trigger bullish momentum.

Scenario 2- A break below the outer bar low and trend line may lead the pair downwards
The pair is expected to find support at 144.914, and a fall through could take it to the next support level of 144.592. The pair is expected to find its first resistance at 145.698, and a rise through could take it to the next resistance level of 146.160.

GBP JPY previous Day range was 7840 and Current Day Range is 1700.

NZD USD

The NZD traded higher against USD and closed at 0.6616.
1- H4 Outside bar Inside bar.

2- Pivot high candles forming a trend line.
Scenario 1=A break above the Outside bar high and trend line may trigger bullish momentum.

Scenario 2- A break below the outer bar low and trend line may lead the pair downwards
According to the analysis, pair is expected to find support at 0.66029, and a fall through could take it to the next support level of 0.65896. The pair is expected to find its first resistance at 0.66344, and a rise through could take it to the next resistance level of 0.66526.

NZD USD previous day range was 31.5 and current day range is 18.4.
 

xtreamforex

Master Trader
Technical Overview of CHF/JPY and EUR/AUD Currency Pair

CHF JPY

The CHF traded higher against the JPY and closed at 108.824.

The followed the following actions.
1 - It broke he Monthly support upwards
2 - It broke the Quarterly support upwards
3 - Formed A Resistance Trend Line and broke it to the upside
4 - The Daily 9 ema is to the upside
5 - If the pair breaks the Up 127 extension then we may see an extended move
or
6 - If the pair breaks the down 127 extension then this may be a double top.

According to the Analysis, The pair is expected to find support at 108.467, and a fall through could take it to the next support level of 108.111. The pair is expected to find its first resistance at 109.076, and a rise through could take it to the next resistance level of 109.329.

CHF JPY Previous Day range was 6090 and Current Day Range is 2530.

EUR AUD

The EUR traded higher against the AUD and closed at 1.6245.

The followed the following actions.
1- It broke the Quarterly Pivot upwards.
2 - Making a series of HH and HL.
3 - Formed A Support Trend Line.
4 - The Daily 9 ema is to the upside.
5 - If the pair breaks the Up 127 extension then we may see an extended move.
or
6 - If the pair breaks the down 127 extension then this may be a double top.
7 - The up 127 Extension is in confluence with Quarter and Year Resistance.

According to the Analysis, The pair is expected to find support at 1.62134, and a fall through could take it to the next support level of 1.61818. The pair is expected to find its first resistance at 1.62689, and a rise through could take it to the next resistance level of 1.62928.

EUR AUD Previous Day range was 55.5 and Current Day Range is 89.4.

Fundamental Overview
  • Inflation in the euro area is not at the level of 2% the ECB wants it to be, the ECB policy maker Klaas Knot says.
  • Japan: GDP shows strong fundamentals are supporting demand US Pres. Trump: “Starting Monday, our great Farmers can begin doing business again with Mexico and Canada.
 

xtreamforex

Master Trader
Technical Overview of EUR/AUD Currency Pair

EUR AUD

The EUR traded higher against the AUD and closed at 1.6201.

I have been watching this pair since 4 days as it has many aspects lying inside it.

1 - Making a series of HH and HL.
2 - Formed a Motherbar Inside bar @ D1.
3 - In confluence with.
Quarter Pivot
Yearly and Quarter Resistance
5 DAY ADR
3 - Formed A Support Trend Line.

Break above 127 Extension may form a Bullish Momentum.
Break below 127 Extension may form a Bearish Momentum.

According to the Analysis, The pair is expected to find support at 1.61709, and a fall through could take it to the next support level of 1.61406. The pair is expected to find its first resistance at 1.62347, and a rise through could take it to the next resistance level of 1.62682.

EUR AUD Previous Day range was 63.8 and Current Day Range is 61.3.

Fundamental Overview

Market is Over Extended

1 - We may see a Weakness in GBP as 3 of its High Impact news are not in a positive zone.
2 - Westpac Now Forecasts 3 RBA Interest-Rate Cuts in 2019.
3 - It confirmed that market is in a state of Risk Aversion/Risk Off.
 

xtreamforex

Master Trader
Technical Overview of USD/JPY and EUR/AUD Currency Pair

USD JPY

The USD traded lower against the JPY and closed at 109.483.
1) Pair stalls between the quarter and year pivot.
2) Keep in mind that market is in RISK AVERSION.
3) Breakout of 127 extension may lead the pair to a short trend.

According to the Analysis, The pair is expected to find support at 109.314, and a fall through could take it to the next support level of 109.144. The pair is expected to find its first resistance at 109.618, and a rise through could take it to the next resistance level of 109.752.

USD JPY Previous Day range was 3040 and Current Day Range is 2010.

EUR AUD

The EUR traded lower against the AUD and closed at 1.6176.
1) PIVOT support line broken.
2) Market is below the golden cross EMA.
3) 127 Extensions level may decide the move direction.

According to the Analysis, The pair is expected to find support at 1.61570, and a fall through could take it to the next support level of 1.61376. The pair is expected to find its first resistance at 1.61917, and a rise through could take it to the next resistance level of 1.62070.

EUR AUD Previous Day range was 34.7 and Current Day Range is 47.
 

xtreamforex

Master Trader
Technical Overview of AUD/JPY Currency Pair

AUD JPY

The AUD traded higher against the JPY and closed at 75.703.

1) Pair in a tight range.
2) Pair forms a Support @ 77.50.
3) keep in mind that AUD announces time rate Cut in 2019 and total 4 times till 2020.
4) So it makes no sense to waiting for resistance to be broker as we know JPY is safe heaven in this RISK Aversion state.

According to the Analysis, The pair is expected to find support at 75.517, and a fall through could take it to the next support level of 75.330. The pair is expected to find its first resistance at 75.919, and a rise through could take it to the next resistance level of 76.134.

AUD JPY Previous Day range was 4020 and Current Day Range is 2230.

Economic Events

1) RBNZ Financial Stability Report (It provides insights into the bank's view of inflation, growth, and other economic conditions that will affect interest rates in the future).
2) Bank of Canada (BOC) Interest Rate Announcement.
3) GBP/USD: UK’s political uncertainty favors bears targeting 1.2600.

For Detailed Technical Analysis Visit our YouTube Channel.
 

xtreamforex

Master Trader
Overview of Gold – Bearish Sentiment Seen in This Week

The XAU traded lower against the USD and closed at 1280.34.

What do we have in the shiny material?
1) Bearish ABCD Pattern.
2) "C" @ 50% Retracement.
3) "C" @ Monthly Pivot.
4) "C" @ the Value Area Low of - 2 Week.
5) "C" forms a Double Top in it - self, followed by 61.8% retracement.
6) Forms a support trendline from D1 Pivot Candles.

Scenarios:

  1. Bulls need to break above Month Pivot.
  2. Bears need to break below the D1 support trend line.
According to the Analysis, The XAU/USD pair is expected to find support at 1277.77, and a fall through could take it to the next support level of 1275.20. The pair is expected to find its first resistance at 1284.25, and a rise through could take it to the next resistance level of 1288.16.

XAU USD Previous Day range was 6.48 and Current Day Range is 31100.
 

xtreamforex

Master Trader
Technical Overview of the Commodities Gold and Silver

Overview of Gold

1) It is expected, that the price for gold could continue to decline. A potential downside target is the support level at 1,273 & Stalls @ the monthly pivot.
2) As it has formed a Large Bullish High volume Candle, It represents that the aggressive news buying is over and if the Highs r not broken then we may see it to decline again.
3) It’s making a series of Lower Highs and Lower Lows, Representing a declining position.
4) It’s in a formation of Gartley Pattern.
5) The D1 Price and Change in Candle Chart below For May 2019. We can see whenever the price and change in candle r in close proximity with each other they repell, triggering a change in trend.

Overview of Silver
1) It is expected, that the price for silver could continue to decline.
2) From the past 10 weeks, Silver is declining and making a series of Lower Lows and Higher Lows.
3) Now the Metal made a High Volume Candle.
4) At the Weekly Pivot.
5) Below the Last week Pivot.
6) At the previous and current Value Area High.
7) Test of 20 EMA from Daily 1 Chart.
8) A break below close below candle may trigger a selling bias again.
9) With Strong support @ SUP1 Week 1 = 14.38.
10) With Strong Support @ SUP2 Month 1 =14.36.
 

xtreamforex

Master Trader
Technical Overview of AUD/CAD and AUD/CHF Currency Pair

AUD CAD

The AUD traded higher against the CAD and closed at 0.9174.
1-After making a down move of 406 pips, the pair begin ascending.
2 - It’s above the 60/80 ema.
3 - Its above the weekly and monthly Pivot.
4 - It formed a Double Top Pattern, A breakout above the 127 Extension may lead the pair to covet the space made by 406 Pip down Move.
5 - If we have a look at the Futures data then we may see that the slope of AUD is towards UP side and CAD is towards Down.

According to the Analysis, The pair is expected to find support at 0.93363, and a fall through could take it to the next support level of 0.92984. The pair is expected to find its first resistance at 0.94012, and a rise through could take it to the next resistance level of 0.94282.

AUD CAD Previous Day range was 64.9 and Current Day Range is 30.3.

AUD CHF

The AUD traded lower against the CHF and closed at 0.6941.
1 - The Pair formed a double top.
2 - It could not breach the Up extension off 127 hence it confirms a double top.
3 - The 60/80 ema is facing towards down.
4 - Fundamentally as we know market is in Risk Off Scenario so we can gain help from the strength of Safe Heaven CHF to support this trade.
5 - A space with many Open orders left to cover while going towards the down side remaining.
6 - Pair is below the Yearly, Quarterly, Monthly and weekly forming a Proper Sync formation of trend.

According to the Analysis, The pair is expected to find support at 0.69279, and a fall through could take it to the next support level of 0.69151. The pair is expected to find its first resistance at 0.69624, and a rise through could take it to the next resistance level of 0.69841.

AUD CHF Previous Day range was 34.5 and Current Day Range is 37.1.

Weekly Briefing

On Sunday, the Chinese government published a paper in which it was announced that China will not back off in the US-China trade war despite recent tariffs.
The Chinese securities and markets regulators announced that the impact of trade wars on financial markets can be controlled.
This may Strengthen The CNY because a few days earlier the officials said that those who short the CNY will face many Losses.

The Saudi Arabian Monetary Authority stated on Sunday steady slowdown of world economy growth could negatively affect oil market and, as a result, the country's economy temps of growth. It signals that when there will be instability then Who WILL BUY OIL? The Supply may exceed Demand.

The J.P. Morgan analytics department stated on Saturday that escalating trade tensions with China and other countries could force the Federal Reserve to hike interest rates two more times in 2019- High interest Rate = Strength of the Economy

A fundamental surge has occurred. Due to another Trump tariff announcement the USD dropped like a brick. As a result of that commodity prices have jumped. Gold touched the 1,300.00 level on Friday.

For Detailed Technical Analysis Visit XtreamForex YouTube Channel.
 

xtreamforex

Master Trader
Technical Overview of USD/JPY and NZD/CAD Currency Pair

USD JPY

The USD traded higher against the JPY and closed at 108.055.
  • The pair formed an AB= CD pattern.
  • It’s below Yearly, Quarterly and Monthly pivot.
  • NO Price Action Signal.
  • It broke the Pivot support trend line.
  • But
  • Fundamentally as we know that Safe Heaven is in demand and USD has announced a rate cut so we can assume to sell on the rallies.
  • As we can see the VPOC level 108.22 is a good Value area to go short.
  • This may be a purely fundamental trade if shorts take over the market.
According to the Analysis, The pair is expected to find support at 107.809, and a fall through could take it to the next support level of 107.564. The pair is expected to find its first resistance at 108.372, and a rise through could take it to the next resistance level of 108.690.

USD JPY Previous Day range was 5630 and Current Day Range is 3320.

NZD CAD

The NZD traded lower against the CAD and closed at 0.8864.
  • The main trend heads towards North.
  • Pivot support trendline formed.
  • Price successfully trading above the current and previous weekly pivot level.
  • Price breached towards north the - 3 week Pivots.
  • A Buy on the dips will be preferable.
  • For now
  • NZD is the strongest and USD and CAD are Weakest.
According to the Analysis, The pair is expected to find support at 0.88309, and a fall through could take it to the next support level of 0.87977. The pair is expected to find its first resistance at 0.88876, and a rise through could take it to the next resistance level of 0.89111.

NZD CAD Previous Day range was 56.7 and Current Day Range is 30.6.

Morning Briefing
  • The U.S. dollar fell on Monday after St. Louis Federal Reserve President James Bullard said an interest rate cut "may be warranted soon," given the rising economic risk posed by global trade tensions as well as weak U.S. inflation.
  • Hedge funds stepped up their negative bets on sterling.
  • While sterling edged further off five-month lows on Monday, rising 0.15% to $1.2645, short positions are slowly building up in the background, reflecting growing uncertainty among investors on the outlook for the British economy.
  • Short positions are at their highest level since March 17.
  • The RBA is expected to cut the cash rate on Tuesday to a new record low of 1.25%. We expect a follow-up cut in August, with the risk of additional stimulus by early 2020.
  • ING discusses EUR/USD: We are still expecting a downside breakout below the crucial horizontal support around 1.1115 in the coming weeks. This will trigger a serious Sell signal
  • EUR/USD Bulls May Retreat If ECB Tilts Dovish On Thursday.
  • Squawk: Prefer to sell USD/JPY on rallies, while maintains a long NZD/CAD as its trade of this week targeting a move towards 0.8950.
Overview of Gold
  • From a theoretical point of view, it is expected, that a reversal south could occur in the nearest future.
  • In this case, the rate has to surpass the 1,309.31 level.
  • If the given support level holds, it is likely, that gold could trade sideways between it and the upper channel line.
  • It is unlikely, that the price for gold could jump higher than 1,333.68 due to the resistance of the Q1 R1.
  • Gold is above the yearly and Quarterly Pivots.
  • Better to wait for the Metal to form a Double Top and Fill the space it made.
  • Technically if we look at the Futures Data then we see that the data is making a formation of Double Top. If we break the neck line then we may have a down movement.
  • On the other hand we can see downwards slope in the USD Futures a crossover may strengthen USD.
For Detailed Technical Analysis Visit XtreamForex YouTube Channel.