Daily News By Xtreamforex

Discussion in 'Forex - Currencies Forums' started by xtreamforex, Jan 3, 2019.

  1. xtreamforex

    xtreamforex Senior Investor

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    Technical Overview of GBP/USD, NZD/USD and USD/JPY Currency Pairs

    GBP USD

    The GBP traded higher against the USD and closed at 1.3239.

    The Michigan Consumer Sentiment Index released by the University of Michigan is a survey of personal consumer confidence in economic activity. It shows a picture of whether or not consumers are willing to spend money. Generally speaking, a high reading anticipates positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

    According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.31853, and a fall through could take it to the next support level of 1.31319. The pair is expected to find its first resistance at 1.33140, and a rise through could take it to the next resistance level of 1.33893.

    Previous Day range was 128.7 and Current Day Range is 49.9.

    NZD USD

    The NZD traded higher against the USD and closed at 0.6817.

    BusinessNZ Performance of Manufacturing Index (PMI) is compiled based on a monthly survey. It serves as a leading indicator of New Zealand's manufacturing sector activity.

    The pair is expected to find support at 0.67951, and a fall through could take it to the next support level of 0.67735. The pair is expected to find its first resistance at 0.68518, and a rise through could take it to the next resistance level of 0.68869.

    NZD USD previous Day range was 56.7 and Current Day Range is 30.3.

    USD JPY

    The USD traded little lower against JPY and closed at 111.693.

    BoJ Interest Rate Decision is made 8 times a year. The regulator's interest rate is used to provide loans to commercial banks. Establishing an interest rate is one of the main tools of the monetary policy used by the Bank of Japan to regulate the strength of its currency.

    Interest rate growth can have a positive impact on yen quotes.

    According to the analysis, pair is expected to find support at 111.274, and a fall through could take it to the next support level of 110.855. The pair is expected to find its first resistance at 111.971, and a rise through could take it to the next resistance level of 112.249.

    USD JPY previous day range was 6970 and current day range is 4020.
     
  2. xtreamforex

    xtreamforex Senior Investor

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    Technical Overview of EUR/USD, USD/CAD and AUD/USD Currency Pairs

    EUR USD

    The EUR traded higher against the USD and closed at 1.1324.

    According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.12993, and a fall through could take it to the next support level of 1.12750. The pair is expected to find its first resistance at 1.13460, and a rise through could take it to the next resistance level of 1.13684.

    Previous Day range was 46.7 and Current Day Range is 18.8.

    USD CAD

    The USD traded lower against the CAD and closed at 1.3341.

    The pair is expected to find support at 1.32963, and a fall through could take it to the next support level of 1.32517. The pair is expected to find its first resistance at 1.33782, and a rise through could take it to the next resistance level of 1.34155.

    USD CAD previous Day range was 81.9 and Current Day Range is 30.2.

    AUD USD

    The AUD traded higher against USD and closed at 0.7085.

    According to the analysis, pair is expected to find support at 0.70652, and a fall through could take it to the next support level of 0.70456. The pair is expected to find its first resistance at 0.71007, and a rise through could take it to the next resistance level of 0.71166.

    AUD USD previous day range was 35.5 and current day range is 36.8.
     
  3. xtreamforex

    xtreamforex Senior Investor

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    Technical Overview of AUD/USD, USD/JPY and GBP/USD Currency Pairs

    AUD USD

    The AUD traded higher against the USD and closed at 0.7102.

    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, Four hour chart shows that the pair is expected to find support at 0.70803, and a fall through could take it to the next support level of 0.70583. The pair is expected to find its first resistance at 0.71218, and a rise through could take it to the next resistance level of 0.71413.

    Previous Day range was 41.5 and Current Day Range is 21.6.

    USD JPY

    The USD traded lower against the JPY and closed at 111.425.

    The Bank of Japan publishes a study of economic movements in Japan after the actual meeting. These meetings are held to review economic developments inside and outside of Japan and indicate a sign of new fiscal policy. Any changes in this report tend to affect the JPY volatility.

    Generally speaking, if the BoJ minutes show a hawkish outlook, that is seen as positive (or bullish) for the JPY, while a dovish outlook is seen as negative (or bearish).

    The pair is expected to find support at 111.274, and a fall through could take it to the next support level of 111.123. The pair is expected to find its first resistance at 111.601, and a rise through could take it to the next resistance level of 111.777.

    USD JPY previous Day range was 3270 and Current Day Range is 2850.

    GBP USD

    The GBP traded higher against USD and closed at 1.3252.

    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 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).

    According to the analysis, pair is expected to find support at 1.31909, and a fall through could take it to the next support level of 1.31299. The pair is expected to find its first resistance at 1.33056, and a rise through could take it to the next resistance level of 1.33593.

    GBP USD previous day range was 114.7 and current day range is 37.3.
     
  4. xtreamforex

    xtreamforex Senior Investor

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    Technical Overview of EUR/USD, USD/CHF and NZD/USD Currency Pairs

    EUR USD
    [​IMG]
    The EUR traded lower against the USD and closed at 1.1351.

    This report, released by Federal Reserve, includes the FOMC's projection for inflation and economic growth over the next 2 years and, more importantly, a breakdown of individual FOMC member's interest rate forecasts.

    According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.13357, and a fall through could take it to the next support level of 1.13202. The pair is expected to find its first resistance at 1.13639, and a rise through could take it to the next resistance level of 1.13766.

    Previous Day range was 28.2 and Current Day Range is 13.9.

    USD CHF
    [​IMG]
    The USD traded higher against the CHF and closed at 0.9991.

    Following the Fed's rate decision, the FOMC releases its statement regarding monetary policy. The statement may influence the volatility of USD and determine a short-term positive or negative trend. A hawkish view is considered as positive, or bullish for the USD, whereas a dovish view is considered as negative, or bearish.

    The pair is expected to find support at 0.99791, and a fall through could take it to the next support level of 0.99668. The pair is expected to find its first resistance at 1.00092, and a rise through could take it to the next resistance level of 1.00270.

    USD CHF previous Day range was 30.1 and Current Day Range is 13.8.

    NZD USD
    [​IMG]
    The NZD traded lower against USD and closed at 0.6853.

    The Gross Domestic Product released by the Statistics New Zealand is a measure of the total value of all goods and services produced by New Zealand. The GDP is considered as a broad measure of New Zealand economic activity and health. Generally speaking, a high reading is seen as positive (or bullish) for the NZD, while a falling trend is seen as negative (or bearish) for the NZD.

    According to the analysis, pair is expected to find support at 0.68389, and a fall through could take it to the next support level of 0.68245. The pair is expected to find its first resistance at 0.68694, and a rise through could take it to the next resistance level of 0.68855.

    NZD USD previous day range was 30.5 and current day range is 28.
     
  5. xtreamforex

    xtreamforex Senior Investor

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    Technical Overview of USD/CAD, GBP/USD and USD/JPY Currency Pairs

    USD CAD

    The USD traded higher against the CAD and closed at 1.3363.

    Canada Retail Sales m/m show changes in the value of goods sold in retail stores in the specified month compared to the previous month. The indicator is calculated based on statistics from several thousand retail stores, and the data is then extrapolated to the whole country.

    The indicator evaluates the consumer activity and inflation. The indicator growth can have a positive effect on CAD quotes.

    Canada Retail Sales m/m show changes in the value of goods sold in retail stores in the specified month compared to the previous month. The indicator is calculated based on statistics from several thousand retail stores, and the data is then extrapolated to the whole country.

    The indicator evaluates the consumer activity and inflation. The indicator growth can have a positive effect on CAD quotes.

    According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.32922, and a fall through could take it to the next support level of 1.32216. The pair is expected to find its first resistance at 1.34165, and a rise through could take it to the next resistance level of 1.34702.

    Previous Day range was 124.3 and Current Day Range is 23.9.

    GBP USD

    The GBP traded higher against the USD and closed at 1.3103.

    Existing Home Sales shows the amount of the secondary housing sales for the given month. Only closed deals are considered in the report.

    The report is used to evaluate the US real estate market.
    The indicator growth can have a positive effect on US dollar quotes.

    The pair is expected to find support at 1.29957, and a fall through could take it to the next support level of 1.28887. The pair is expected to find its first resistance at 1.32175, and a rise through could take it to the next resistance level of 1.33323.

    GBP USD previous Day range was 221.8 and Current Day Range is 42.9.

    USD JPY

    The USD traded lower against JPY and closed at 110.808.

    Existing Home Sales shows the amount of the secondary housing sales for the given month. Only closed deals are considered in the report.

    The report is used to evaluate the US real estate market.
    The indicator growth can have a positive effect on US dollar quotes.

    According to the analysis, pair is expected to find support at 110.419, and a fall through could take it to the next support level of 110.031. The pair is expected to find its first resistance at 111.074, and a rise through could take it to the next resistance level of 111.314.

    USD JPY previous day range was 6550 and current day range is 2390.
     
  6. xtreamforex

    xtreamforex Senior Investor

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    Technical Overview of AUD/USD, USD/JPY and GBP/USD Currency Pairs

    AUD USD

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

    According to the Analysis, Four hour chart shows that the pair is expected to find support at 0.70786, and a fall through could take it to the next support level of 0.70463. The pair is expected to find its first resistance at 0.71299, and a rise through could take it to the next resistance level of 0.71489.

    Previous Day range was 51.3 and Current Day Range is 19.5.

    USD JPY

    The USD traded higher against the JPY and closed at 109.956.

    The pair is expected to find support at 109.702, and a fall through could take it to the next support level of 109.448. The pair is expected to find its first resistance at 110.223, and a rise through could take it to the next resistance level of 110.490.

    USD JPY previous Day range was 5210 and Current Day Range is 3280.

    GBP USD

    The GBP traded lower against USD and closed at 1.3191.

    According to the analysis, pair is expected to find support at 1.31516, and a fall through could take it to the next support level of 1.31124. The pair is expected to find its first resistance at 1.32369, and a rise through could take it to the next resistance level of 1.32830.

    GBP USD previous day range was 85.3 and current day range is 41.
     
  7. xtreamforex

    xtreamforex Senior Investor

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    Technical Overview of USD/JPY, USD/CAD and AUD/USD Currency Pairs

    USD JPY

    The USD traded lower against the JPY and closed at 110.507.

    The Tokyo Consumer Price Index released by the Statistics Bureau is a measure of price movements obtained by comparison of the retail prices of a representative shopping basket of goods and services, excluding fresh food. The index captures inflation in Tokyo. The purchase power of JPY is dragged down by inflation. Generally a high reading is seen as positive for the JPY.

    According to the Analysis, Four hour chart shows that the pair is expected to find support at 110.260, and a fall through could take it to the next support level of 110.014. The pair is expected to find its first resistance at 110.730, and a rise through could take it to the next resistance level of 110.954.

    Previous Day range was 4700 and Current Day Range is 4110.

    USD CAD

    The USD traded lower against the CAD and closed at 1.3408.

    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.

    The pair is expected to find support at 1.33769, and a fall through could take it to the next support level of 1.33456. The pair is expected to find its first resistance at 1.34395, and a rise through could take it to the next resistance level of 1.34708.

    USD CAD previous Day range was 62.6 and Current Day Range is 22.1.

    AUD USD

    The AUD traded higher against USD and closed at 0.7083.

    According to the analysis, pair is expected to find support at 0.70535, and a fall through could take it to the next support level of 0.70244. The pair is expected to find its first resistance at 0.71265, and a rise through could take it to the next resistance level of 0.71704
    AUD USD previous day range was 73 and current day range is 25.9.
     
  8. xtreamforex

    xtreamforex Senior Investor

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    Technical Overview of EUR/USD, USD/CAD and GBP/USD Currency Pairs

    EUR USD

    The EUR traded higher against the USD and closed at 1.1218.

    The core Consumer Price Index released by Eurostat is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services excluding the volatile components like food, energy, alcohol and tobacco. The core 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 EUR, while a low reading is seen as negative.


    The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. Generally, a high reading anticipates a hawkish attitude which will be positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).


    According to the Analysis, The pair is expected to find support at 1.12030, and a fall through could take it to the next support level of 1.11883. The pair is expected to find its first resistance at 1.12392, and a rise through could take it to the next resistance level of 1.12607.


    Previous Day range was 36.2 and Current Day Range is 13.3.



    USD CAD


    The USD traded higher against the CAD and closed at 1.3352.


    The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).

    The pair is expected to find support at 1.33149, and a fall through could take it to the next support level of 1.32777. The pair is expected to find its first resistance at 1.34157, and a rise through could take it to the next resistance level of 1.34793.

    USD CAD previous Day range was 100.8 and Current Day Range is 15.2.

    GBP USD

    The GBP traded higher against USD and closed at 1.3027.

    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.

    According to the analysis, pair is expected to find support at 1.29584, and a fall through could take it to the next support level of 1.28898. The pair is expected to find its first resistance at 1.31142, and a rise through could take it to the next resistance level of 1.32014.

    GBP USD previous day range was 155.8 and current day range is 31.2.
    Visit:- https://xtreamforex.com/academy/technical-overview-of-eur-usd-usd-cad-and-gbp-usd-currency-pairs-2/
     
  9. xtreamforex

    xtreamforex Senior Investor

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    Weekly Forecast of Crude Oil (USOil.x)

    Oil ignores the bearish API inventory report released day before yesterday and hit five-month highs a few minutes before press time.
    OPEC's output hit a four-year low in March. The Energy Information Administration is expected to show the US oil inventories dropped last week.

    US crude oil inventories unexpectedly rose by 3 million barrels last week, the American Petroleum Institute said on Tuesday. Oil prices, however, have shrugged off the bearish inventory report, and continue to cheer the OPEC-led supply cuts.

    According to the analysis, USOil.x pair is expected to find support at 61.91, and a fall through could take it to the next support level of 61.21. The pair is expected to find its first resistance at 63.02, and a rise through could take it to the next resistance level of 63.43.

    USOil.x previous day range was 11100 and current day range is 4300.

    The Energy Information Administration (EIA) data due later today is expected to show the US crude inventories dropped 100,000 barrels last week. A bigger drawdown could end up pushing WTI higher to $63.59 (resistance of the June 2018 low as per the weekly chart).
    Visit:-https://xtreamforex.com/academy/weekly-forecast-of-crude-oil-usoil-x/
    [​IMG]
     
  10. xtreamforex

    xtreamforex Senior Investor

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    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.
     

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