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Technical Analysis
XtreamForex Daily Technical Analysis
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[QUOTE="xtreamforex26, post: 167857, member: 59158"] [B][SIZE=6][COLOR=#ff0000]Technical Overview of EUR/USD, AUD/USD and NZD/USD Currency Pair[/COLOR][/SIZE][/B] [COLOR=#ff0000][B]EUR USD[/B][/COLOR] 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. [COLOR=#ff0000][B]AUD USD[/B][/COLOR] AUD traded lower against USD and closed at 0.6799. [LIST] [*]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? [/LIST] 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. [B][COLOR=#ff0000]NZD USD[/COLOR][/B] NZD traded lower against USD and closed at 0.6540 [LIST] [*]A number of downward slopping trend lines indicate weakness of NZD/USD. [*]10-week old support-line grabs bears’ attention. [*]In addition to a two-day long descending trend-line, the NZD/USD pair’s sustained trading below a resistance-line stretched since late-July also portrays its weakness as the quote seesaws near 0.6510 during early Monday. [/LIST] The Employment Change released by the Statistics New Zealand is a measure of the change in the number of employed people in New Zealand. Generally speaking, today a rise in this indicator has positive implications for consumer spending which stimulates economic growth. A high reading is seen as positive (or bullish) for the NZ dollar, while a low reading is seen as negative (or bearish). According to the Analysis, pair is expected to find support at 0.6521 and a fall through could take it to the next support level of 0.6513. The pair is expected to find its first resistance at 0.6533, and a rise through could take it to the next resistance level of 0.6537. [/QUOTE]
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