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Technical Analysis
XtreamForex Daily Technical Analysis
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[QUOTE="xtreamforex26, post: 161186, member: 59158"] [B]Technical Overview of GBP/USD, AUD/USD and USD/CHF Currency Pairs[/B] [B]GBP USD[/B] 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 - [LIST=1] [*]Will the UK accept the EU's withdrawal agreement [*]Will the UK rule out leaving with no deal [*]Will Article 50 be extended? [/LIST] 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. [B]AUD USD[/B] 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. [B]USD CHF[/B] 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. [/QUOTE]
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