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Monday, September 19th
EUR/USD
Current price: 1.1156 (0.0%)
Session range: Open 1.1156 High 1.1174 Low 1.1152
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1084 R. 1.1284
Main drivers: None
Overview: Currently the pair is retreating from its daily top posted at 1.1173 spot as markets are still digesting Friday’s strong US figures. However, the American dollar remains highly pressured today despite positive US CPI data as the probability of Fed rate hike this Wednesday is only 12%, while chances of rate hike in December remain under 50%. Today amid absence of releases from Euroland, the pair will follow the global market sentiments that are driven lately by expectations of Fed Interest Rate decision.
GBP/USD
Current price: 1.3059 (0.4%)
Session range: Open 1.3001 High 1.3062 Low 1.2997
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.2829 R. 1.3329
Main drivers: None
Overview: The GBP/USD pair is performing moderate recovery move after refreshing its monthly lows under the resistance level of 1.3000. Today the pound is showing minor recovery as traders are performing profit-taking actions after significant Friday’s down surge triggered by “dovish” comments of UK finance minister that Britain may give up on possibility to access the EU market in order to achieve immigration restrictions. Today in absence of fundamental drivers the pair will follow USD dynamics ahead crucial FOMC meeting on Wednesday.
USD/JPY
Current price: 101.79 (-0.5%)
Session range: Open 102.15 High 102.43 Low 101.70
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 101.38 R. 102.90
Main drivers: None
Overview: Currently the yen is trading modestly flat consolidating its gains near the level of 102.00 vs. American currency, as dollar is broadly weaker this morning after Friday’s rally. Looking ahead, the most significant events of this week remain BOJ and Fed monetary policy decisions scheduled for this Wednesday. There were a lot of rumors lately that Japanese central bank will cut down its interest rate, but in its turn Fed expectedly will leave its rate flat amid of streak of recent downbeat US fundamentals. Moreover, today Japanese market remains silent on the occasion of Respect for the Aged Day, leaving the pair in mercy of global market sentiments.
AUD/USD
Current price: 0.7548 (0.8%)
Session range: Open 0.7481 High 0.7551 Low 0.7478
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 0.7446 R. 0.7570
Main drivers: RBA Meeting Minutes
Overview: Today the aussie is trading on a firm note against its American counterpart reaching its five-day top at 0.7551 spot supported by a pullback in the US currency across the board. Expectedly the major will keep its bullish tone today as higher commodity prices seen lately with shrinking expectations of any action from the Fed are majorly supporting the pair. Next on tap for the pair remains RBA Meeting Minutes coming later in Asia.
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Tuesday, September 20th
EUR/USD
Current price: 1.1188 (0.1%)
Session range: Open 1.1175 High 1.1214 Low 1.1168
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1126 R. 1.1220
Main drivers: US Housing Starts, US Building Permits
Overview: The pair has performed sharp upsurge breaking through the level of 1.1200 as aggressive sell-off sentiments have gripped the dollar in early Europe. Moreover, seems that markets have majorly ignored poor German PPI this morning providing no bearish impetus to the euro. However, amid of absence of any fundamental releases from Euroland the pair will follow market sentiments that are mainly driven by speculations of Fed rate hike this Wednesday, while US will provide data from housing market later in NY session.
USD/JPY
Current price: 101.74 (-0.2%)
Session range: Open 101.92 High 102.08 Low 101.53
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 101.14 R. 102.80
Main drivers: US Housing Starts, US Building Permits
Overview: Today the pair keeps its bearish tone dipping under the level of 102.00 as chances of Fed rate hike this Wednesday are fading. However, prevailing uncertainty around BOJ monetary policy decision also is limiting pair’s movement range. Moreover, the pair will keep thin trading range, as traders remain cautious ahead of both central banks decisions. Expectedly, BOJ and the Fed announcements will trigger fresh wave of volatility across the market that will knock out the pair out of its mid-term tight trading range.
USD/CHF
Current price: 0.9775 (-0.3%)
Session range: Open 0.9799 High 0.9812 Low 0.9761
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.9766 R. 0.9836
Main drivers: US Housing Starts, US Building Permits
Overview: The pair fails to keep its trading range above the level of 0.9800, which the dollar has been holding since Friday. The pair has dropped to its session lows that are marked at 0.9767 spot as strong selling pressure behind the dollar hits the market this Tuesday. Moreover, risk aversion sentiments are gathering pace lately supporting Swiss franc’s safe haven status. Nothing important is scheduled in Swiss economic calendar so the pair will follow global market sentiments, while US will announce housing data later in NY session.
NZD/USD
Current price: 0.7341 (0.7%)
Session range: Open 0.7293 High 0.7358 Low 0.7291
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7214 R. 0.7364
Main drivers: US Housing Starts, US Building Permits
Overview: Currently the pair is expanding retreat from its overnight lows as the dollar remains suspended on the back of diminishing hopes of the Fed rate hike this Wednesday. However, the upside momentum is also capped as lower oil prices are pressuring on the pair this morning. Now all focus shifts to the Fed Interest Rate Decision that will able determine mid-term pair’s direction, however, RBNZ will also announce its decision Thursday in early Asia that will be closely watched for fresh impetus.
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Wednesday, September 21st
USD/JPY
Current price: 102.29 (0.6%)
Session range: Open 101.70 High 102.81 Low 101.01
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 101.22, R. 102.30
Main drivers: Fed Interest Rate Decision, Speech of Fed Chair J.Yellen.
Overview: Today the pair witnessed a huge swing after BOJ has announced its decision to keep benchmark rate unchanged during its policy review meeting refreshing its 4-week lows in region of 101.01 level. However, the pair has bounced back to its 5-day highs posted at 102.78 as BOJ has showed readiness of monetary policy further easing until inflation exceeds the level of 2%. Later in NY session the Fed monetary policy decision that could determine further near-term direction for the pair will take center stage.
EUR/USD
Current price: 1.1148 (0.0%)
Session range: Open 1.1150 High 1.1158 Low 1.1123
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.1107 R. 1.1235
Main drivers: Fed Interest Rate Decision, Speech of Fed Chair J.Yellen.
Overview: After modestly flat Asia the major has dropped to its weekly lows mainly driven by dollars significant strength across the market as BOJ meeting review has boosted the demand for the US currency. However, seems that dollar bulls have took a breath, allowing the pair to regain its positions as we are moving toward the main event of this week Federal Reserve monetary policy decision that will determine near-term trajectory for the pair. Expectedly that Fed will not make a move this time, but hawkish comments of Chair J.Yellen during her press conference could leave doors open for potential moves by the Fed in the next months.
NZD/USD
Current price: 0.7302 (-0.2%)
Session range: Open 0.7315 High 0.7323 Low 0.7278
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 0.7251 R. 0.7389
Main drivers: US Crude Oil Inventories, Fed Interest Rate Decision, Speech of Fed Chair J.Yellen, RBNZ Interest Rate Decision.
Overview: Currently the kiwi recovers smile against its American counterpart performing a solid comeback from the region of 0.7278. Now kiwi is trading on a firm note as higher oil prices are lending support to the resource-linked NZ currency. Moreover, the American dollar is giving away part of its gained positions after massive rally in its cross with the yen as US bulls are losing its momentum. Looking ahead now focus shifts to the Fed and RBNZ interest rate decisions that will take center stage later in NY session.
GBP/USD
Current price: 1.2974 (-0.1%)
Session range: Open 1.2988 High 1.3005 Low 1.2945
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.2881 R. 1.3117
Main drivers: Fed Interest Rate Decision, Speech of Fed Chair J.Yellen.
Overview: The pound/dollar pair is trimming losses retreating from 5-week lows marked in the region of mid-1.2900 level. The pair has dropped sharply after the dollar picked up a solid strength following BOJ’s dovish announcement. However, seems that dollar’s bulls are out of steam allowing the pair to retreat from session lows. Next on tap remains Fed policy decision that will bring a massive wave of volatility across the market amid data light calendar from UK.
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Thursday, September 22nd
EUR/USD
Current price: 1.1232 (0.4%)
Session range: Open 1.1188 High 1.1250 Low 1.1183
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1095 R. 1.1243
Main drivers: Speech of the ECB President M.Draghi, US Existing Home Sales
Overview: Finally, the major breaks through its key resistance level of 1.1200 as European session opens doors. Yesterday market participants remained unsatisfied by dovish FOMC Statement that left situation around this year Fed rate hike even more unclear as it was before. Moreover, yesterday as it was expected the Fed left its interest rate unchanged adding some bearish momentum to the dollar.
NZD/USD
Current price: 0.7336 (-0.2%)
Session range: Open 0.7349 High 0.7372 Low 0.7316
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 0.7247 R. 0.7419
Main drivers: US Existing Home Sales
Overview: Currently the kiwi is trading on a firm note against its American peer in early Europe. Yesterday, RBNZ kept its rate unchanged but did trigger new wave of speculations of possible official cash rate cut in months ahead weakening NZ dollar. However, the pair has reversed its downside momentum on the back of broadly based US dollar’s sell-off triggered by a cautious Fed approach that has forced the pair to retest its weekly highs. Most likely, the pair will keep its bullish trend during this day as markets are still digesting yesterday’s Fed decision.
USD/JPY
Current price: 100.65 (0.3%)
Session range: Open 100.32 High 100.92 Low 100.09
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 98.62 R. 103.62
Main drivers: US Existing Home Sales
Overview: Seems that dollar’s bears has weakened its control over the pair allowing the major to bounce-off post-FOMC Interest Rate Decision lows near posted in the region of 100.00. Currently US currency is recovering its heavy losses after significant drop in wake of yesterday’s FOMC dovish statement. Today market will continue to digest both BOJ and FOMC policy outcomes but the impact will be limited, as Japanese market will stay closed due to a public holiday.
USD/CAD
Current price: 1.3032 (-0.5%)
Session range: Open 1.3101 High 1.3105 Low 1.3026
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.3008 R. 1.3280
Main drivers: US Existing Home Sales
Overview: The pair extends its bearish momentum for the fourth session in a row. Yesterday the pair came under the strong selling pressure on the back of dovish FOMC statement showing uncertainty around this year rate hike. Moreover, significantly higher oil prices after unexpectedly strong drop in Crude Oil Inventories also provided the pair with additional bearish momentum supporting commodity-linked loonie. Today the pair will stay under the influence of the latest events, as traders will continue to digest yesterday’s FOMC decision. However, nothing much is scheduled in data calendar for the pair except US Existing Home Sales that will be released later in the NA session.
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Friday, September 23rd
EUR/USD
Current price: 1.1197 (-0.1%)
Session range: Open 1.1208 High 1.1220 Low 1.1193
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.1143 R. 1.1289
Main drivers: None
Overview: Seems that euro bulls remained unimpressed by mixed data from Eurozone. Currently the euro has lost its smile and retreats to the red zone printed near the level of 1.1200 down from this session highs marked at 1.1220 as Eurozone preliminary PMI and several local releases has shown mixed results this morning. Most likely, today the pair will stay in mercy of global market sentiment as nothing important in scheduled for the end of this week.
GBP/USD
Current price: 1.2990 (-0.7%)
Session range: Open 1.3078 High 1.3089 Low 1.2988
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.2975 R. 1.3171
Main drivers: None
Overview: The pound keeps trading under bearish pressure in early Europe as the dollar is performing price corrective actions after two consecutive sessions of losses. Currently the dollar is recovering its positions sending the pair down from yesterday’s high marked at 1.3121 spot to print a session low of 1.2988 level. Moreover, lack of fundamentals from both sides will leave the pair under the pressure, as the dollar will keep its corrective tone during this day.
NZD/USD
Current price: 0.7253 (-0.8%)
Session range: Open 0.7312 High 0.7316 Low 0.7242
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 0.7247 R. 0.7399
Main drivers: None
Overview: The pair continues to keep its bearish tone posting its daily lows at 0.7269 spot, as recent dovish RBNZ statement is still suppressing the kiwi. Moreover, broadly based US dollar’s rebound witnessed during Asia and weakness over the commodity market additionally are weighing the major this Friday. Today amid of absence of fundamentals the pair will remain under the influence of USD dynamics and oil price-action.
USD/JPY
Current price: 100.88 (0.1%)
Session range: Open 100.75 High 101.25 Low 100.69
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 99.75 R. 101.43
Main drivers: None
Overview: The yen has reversed part of its losses and now is trading under the level of 101.00. Yesterday despite broadly based dollar’s weakness the intervention talks from Japanese side have supported the pair forcing it to extend its recovery from 4-week lows posted near the key support level of 100.00. Today the dollar has recovered smile against its major peers but cautious sentiments across the market are supporting the yen, as it is safe haven currency muting dollar’s positive tone. Amid a lack of fundamental triggers from both sides today US dollar’s dynamics and risk sentiment will remain the main drivers for the pair.
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Monday, September 26th
EUR/USD
Current price: 1.1239 (0.1%)
Session range: Open 1.1228 High 1.1244 Low 1.1221
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1171 R. 1.1265
Main drivers: US New Home Sales, Speech of the ECB President M.Draghi.
Overview: Today the pair has managed to regain its bullish momentum in early Europe. Amid lack of momentum the euro has muted its bullish momentum during Asia based on dovish comments from FOMC members after its meeting that took place last week. However, positive data from Germany has recommenced pair’s growth pushing it through the level of 1.1200. Later President of ECB M.Draghi will give a speech and US economy will release data from housing market that will determine further pair’s direction.
GBP/USD
Current price: 1.2932 (-0.2%)
Session range: Open 1.2967 High 1.2988 Low 1.2915
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.2814 R. 1.3160
Main drivers: US New Home Sales
Overview: The major is retreating for the second session in a row, coming down from its last week peaks printed at 1.3130 as renewed interest around US currency is forcing the pair to keep its bearish momentum. Britain will introduce only secondary data due today that means that the pair will stay in mercy of relevant shrinking risk appetite trend additionally tracing USD-dynamics for further impact.
USD/JPY
Current price: 100.50 (-0.5%)
Session range: Open 101.02 High 101.13 Low 100.43
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 100.39 R. 101.53
Main drivers: US New Home Sales
Overview: Today the dollar/yen pair was unable to consolidate its positions above the level of 101 as prevalent risk aversion sentiments are supporting safe-haven currency. However, the latest comments from BOJ Governor H. Kuroda that the central bank is ready for further monetary policy easing in order to achieve its target are limiting pair’s downside traction keeping its trading range capped near mid-100.00 level.
AUD/USD
Current price: 0.76156 (-0.8%)
Session range: Open 0.7623 High 0.7632 Low 0.7602
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7584 R. 0.7672
Main drivers: US New Home Sales
Overview: The AUD/USD pair is retreating from overnight lows marked at 0.7607 spot generally guided by higher oil prices. The latest upbeat comments from Algeria’s Energy Minister are pushing black gold prices higher thereby supporting commodity linked Australian dollar. However, chances of further oil output freeze are still very low that are increasing pressure on oil price. Additionally, turned lower risk sentiments are stalling the upside momentum of the pair. Today nothing much is scheduled in Australian economic calendar that means that the pair will stay under the influence of commodity price dynamics.
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Tuesday, September 27th
EUR/USD
Current price: 1.1244 (-0.1%)
Session range: Open 1.1254 High 1.1260 Low 1.1235
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1191 R. 1.1309
Main drivers: US prelim. Services PMI, US CB Consumer Confidence
Overview: Seems that the euro has lost ground against its American peer after four session of winning streak. Today the pair came under selling pressure in response to H.Clinton’s win at the first US presidential debate against her Republican opponent, D.Trump. Additionally, pair’s bears were supported this morning by renewed risk-on sentiments across the financial markets. On the data front the Eurozone today will remain silent with only secondary releases due today while US fundamentals will take center stage later in NA session.
USD/JPY
Current price: 100.50 (0.2%)
Session range: Open 100.32 High 101.00 Low 100.08
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 99.71 R. 101.37
Main drivers: US prelim. Services PMI, US CB Consumer Confidence
Overview: The dollar/yen pair has performed a solid comeback in the Asia as fresh wave of risk-on sentiments hits the market reversing pair’s direction. The pair has refreshed its daily tops this morning marked in the region of 101.00 level as the first US presidential debates between D.Trump and H.Clinton took a place recently triggering risk appetite across the market. Additionally, the yen remains under pressure as markets are still digesting recent release of BOJ meeting minutes that showed central bank’s readiness of easing its monetary policy if it would be needed.
USD/CAD
Current price: 1.3223 (0.0%)
Session range: Open 1.3227 High 1.3277 Low 1.3163
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.3093 R. 1.3309
Main drivers: US prelim. Services PMI, US CB Consumer Confidence
Overview: The Canadian dollar has staged massive recovery vs. its American neighbor. Today during Asian session Loonie came under strong selling pressure renewing its half-year highs at 1.3275 spot following dovish Governor S.Poloz’s remarks. However, the CAD has managed to recover ground as risky sentiments across the market that were boosted after H.Clinton came out on top against her Republican opponent on the first presidential debates in US. Today the Canadian currency will remain under the influence of oil price dynamic that shows underpin results lately supporting commodity linked CAD.
NZD/USD
Current price: 0.7311 (0.5%)
Session range: Open 0.7273 High 0.7330 Low 0.7260
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 0.7190 R. 0.7328
Main drivers: US prelim. Services PMI, US CB Consumer Confidence
Overview: Currently the Kiwi is extending its Monday’s recovery as global market sentiments has turned in favor of the riskier assets. Massive wave of risk-on sentiments has approached the market, as traders perceive Secretary H.Clinton as the winner of the first presidential debate. However, pair’s growth remains capped as markets are still digesting yesterday’s worse-than-expected NZ Trade Balance. Now traders remain in anticipation of US macroeconomic releases that will provide the pair with short-term impetus.
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Thursday, September 29th
USD/CAD
Current price: 1.3086 (0.1%)
Session range: Open 1.3079 High 1.3104 Low 1.3048
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.2946 R. 1.3334
Main drivers: US GDP, US Pending Home Sales, Fed Chair J.Yellen’s Speech
Overview: Seems that CAD bulls took a breather after massive downside rally witnessed yesterday. Currently Canadian dollar is trading almost unchanged vs. its American neighbor consolidating its two-cent down surge since yesterday’s highs. Yesterday OPEC members agreed to limit oil production levels that should be executed at its next meeting scheduled for November. This announcement brought massive wave of buying interest to resource-linked Loonie. Looking ahead, the pair will stay in mercy of oil price dynamics until the NA session where US will release its GDP report followed by several Fed speaks.
AUD/USD
Current price: 0.7675 (-0.2%)
Session range: Open 0.7692 High 0.7710 Low 0.7660
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7629 R. 0.7723
Main drivers: US GDP, US Pending Home Sales, Fed Chair J.Yellen’s Speech
Overview: The Aussie is retreating from its three-week highs printed at 0.7710 as traders are performing profit-taking actions after yesterday’s strong rally. Yesterday OPEC made an agreement about first output cut in eight years thereby lifting all resource-linked currencies such as Australian dollar. However, the pair has lost its upside momentum giving away part of post-OPEC gains after three consecutive north directed sessions as traders are taking some profits off table sending the pair back under 0.7700 resistance level.
USD/JPY
Current price: 101.51 (0.8%)
Session range: Open 0.7692 High 0.7710 Low 0.7660
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 100.02 R. 101.14
Main drivers: US GDP, US Pending Home Sales, Fed Chair J.Yellen’s Speech
Overview: The yen suffers heavy losses as massive wave of risk-on sentiments has approached the market. Yesterday OPEC members on its meeting made a deal of oil output levels cut causing to appear strong risk appetite across the market thereby sending the pair to refresh its weekly highs near the 101.50 region. However, seems that risk associated bulls has took a breath in early Europe giving a chance to the yen to recover some pips. Furthermore, the pair will continue to trace global markets sentiments as interest to risky assets is still on.
EUR/USD
Current price: 1.1221 (0.0%)
Session range: Open 1.1217 High 1.1236 Low 1.1212
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1156 R. 1.1266
Main drivers: US GDP, US Pending Home Sales, Fed Chair J.Yellen’s Speech
Overview: Currently the pair is consolidating its overnight gains despite prevailing risk-on sentiments across the market triggered by OPEC’s output cut agreement. And again the pair has found strong support near the 1.1185 region and performed solid recovery after as ECB President M.Draghi provided some support to Euro by his slightly hawkish remarks during his speech given to the Bundestag. Moreover, today the pair will stay firmer as broadly based dollar’s weakness also is supporting the pair.
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Friday, September 30th
EUR/USD
Current price: 1.1186 (-0.3%)
Session range: Open 1.1221 High 1.1227 Low 1.1168
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1169 R. 1.1275
Main drivers: EU prelim. CPI, US Personal Spending
Overview: After modestly flat Asian session the pair has faced strong rejection dropping below 1.1200 support as the latest German data had shown slightly worse results as it was expected. Moreover, uncertainty around Deutsche Bank has gripped European market decreasing risk associated sentiments thereby boosting the euro bears. Focus now shifts to the preliminary EU CPI data, that expectedly will provide the pair with fresh impetus.
GBP/USD
Current price: 1.2949 (0.2%)
Session range: Open 1.2967 High 1.2978 Low 1.2936
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2888 R. 1.3096
Main drivers: US Personal Spending
Overview: Currently the pound is attempting to recover against its American peer bouncing off three-day lows printed near the mid-point of 1.2900 level. However, the pound remains weaker at the end of this week as shrinking risk-on sentiments across the market are leaving the GBP/USD pair in red zone. Moreover, relatively stronger US currency additionally exerting bearish pressure on the pair.
USD/CAD
Current price: 1.3165 (0.2%)
Session range: Open 1.3145 High 1.3195 Low 1.3140
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.2989 R. 1.3261
Main drivers: US Personal Spending, Canadian GDP
Overview: The pair has caught fresh bids this morning and now is trying to break out of its narrow range on the back of lower oil prices. US dollar’s bulls have taken a breather in Asia but it seems that they are gathering pace as oil extends its profit-taking slide into early Europe. Today traders focus will remain on Canadian GDP report. Meanwhile, the oil price dynamics also will be one of the main drivers for the pair during this day.
USD/JPY
Current price: 100.97 (-0.1%)
Session range: Open 101.03 High 101.78 Low 100.74
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 99.98 R. 102.36
Main drivers: US Personal Spending
Overview: The pair breaks out of its consolidation phase this morning performing wild upper swing of 80 pips with no reason for that. However, the spike has faded quickly and now the pair is eyeing to expand its daily lows toward the region of 100.50 amid still strong risk-aversion sentiments. Nothing of note for the major, so the pair will continue to track broader markets sentiment for further momentum.
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Monday, October 3rd
GBP/USD
Current price: 1.2858 (-0.9%)
Session range: Open 1.2919 High 1.2947 Low 1.2845
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.2847 R. 1.3064
Main drivers: UK Manufacturing PMI, US ISM Manufacturing PMI
Overview: Currently the pair remains just a few pips away from post-Brexit lows leaded generally by Brexit Article 50 impact that approaches the end of UK’s membership in EU. The UK’s PM T.May has stated that control over the migration is more important than “hard Brexit” times that are coming ahead. Today Brexit uncertainty will cause strong influence on the GBP while UK and US PMI’s also will be watched for a short-term impact.
EUR/USD
Current price: 1.1235 (-0.1%)
Session range: Open 1.1230 High 1.1245 Low 1.1226
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1117 R. 1.1311
Main drivers: US ISM Manufacturing PMI
Overview: Currently the pair is trading in a tight range of 15 pips at the start of this week as German and bloc of Asian markets will remain closed due to holydays. Meanwhile, the pair has consolidated its major gains performed after American economy had released mixed macroeconomic data leaving US bulls unimpressed. Moreover, the pair was supported lately by the latest developments surrounding Deutsche bank as payment amount of a fine hasn’t reached estimated volume, thereby lending support to the common currency. However, lack of investors today will be compensated by upcoming data flow that expectedly will shake the market. The pack of PMI’s will be released during this Monday including EU Manufacturing PMI with bunch of local Eurozone PMI’s and ISM Manufacturing PMI across the pond.
AUD/USD
Current price: 0.7655 (-0.1%)
Session range: Open 0.7658 High 0.7667 Low 0.7640
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7557 R. 0.7721
Main drivers: US ISM Manufacturing PMI
Overview: Today Aussie remains slightly negative against its American counterpart however, keeping its gains after massive rebound seen last Friday supported by prevailing risk appetite across the market. Today expectedly the pair will remain in its narrow range as traders prefer to keep stay-and-watch mood ahead of tomorrow’s Australian Interest Rate Decision. Furthermore, most of major Asian markets will remain closed during this day, taking away part of volatility. However, today’s US data coupled with broader risk sentiment will assist traders to catch some pips during this Monday.
USD/JPY
Current price: 101.43 (0,2%)
Session range: Open 101.23 High 101.67 Low 101.20
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 100.25 R. 102.31
Main drivers: US ISM Manufacturing PMI
Overview: The USD/JPY pair is retreating from its session highs posted at 101.65 despite prevalent investors’ interest to risky assets that is limiting major’s trading range. Moreover, disappointing data released this morning are continuing to fuel offered tone around Japanese currency. Today US ISM manufacturing PMI will be closely eyed for a fresh impetus in NY session, but until than risk sentiment will remain as key driver for the pair.
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Tuesday, October 4th
GBP/USD
Current price: 1.2773 (-0.5%)
Session range: Open 1.2842 High 1.2861 Low 1.2756
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2737 R. 1.2997
Main drivers: UK Construction PMI, FOMC Member J.Lacker’s Speech.
Overview: The pound is experiencing strong selling pressure since the start of this week following the latest comments of PM of UK T.May noting that Article 50 could be invoked by the end of the March, 2017. Currently the pair is losing almost two cents since this Monday continuing its downside rally and breaking post-Brexit lows under the crucial support level of 1.2800. Moreover, stronger positions seen behind the dollar are additionally boosting pound bears as market is still digesting yesterday’s strong US manufacturing PMI figures. Traders now await for UK Construction PMI which could bring some relief to the pair supporting bulls by positive data.
EUR/USD
Current price: 1.1174 (-0.3%)
Session range: Open 1.1211 High 1.1217 Low 1.1165
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1158 R. 1.1258
Main drivers: FOMC Member J.Lacker’s Speech
Overview: The euro remains vulnerable against its major counterpart so far. Currently the pair is extending its Monday’s downside rally as the buying interest around US currency is gathering pace. The dollar continues to keep its firmer note as markets are still digesting better-than expected US manufacturing PMI, which is rising chances of this year Fed rate hike. Today in absence of crucial releases the pair will stay under influence of global market’s sentiment and the latest news about Deutsche bank situation.
USD/JPY
Current price: 102.37 (0.7%)
Session range: Open 101.64 High 102.49 Low 101.56
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 100.96 R. 102.83
Main drivers: FOMC Member J.Lacker’s Speech
Overview: The dollar/yen pair is gathering its bullish momentum hitting two-week highs on the back of risk hunger triggered by the latest developments around Brexit. Today the pair is extending its north directed rally for the sixth day in a row breaking through the level of 102.00. Moreover, auspicious US economy results released yesterday are also supporting the pair. Today, strong risk appetite will remain as the key driver for the pair amid data light calendar.
AUD/USD
Current price: 0.7656 (-0.2%)
Session range: Open 0.7673 High 0.7691 Low 0.7647
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7623 R. 0.7705
Main drivers: FOMC Member J.Lacker’s Speech
Overview: Australian interest rate remained flat at its lowest level of 1.5% leaving bulls unimpressed with RBA’s decision. As it was expected the RBA has left its interest rate flat noting that the rate will remain unchanged until the economy will achieve the inflation target. Today the pair will remain directionless as market is still digesting the latest monetary policy decision. Nothing much is scheduled in today’s data calendar except FOMC Member J.Lacker’s speech and Australian Retail Sales that are expected in early Asian session.
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Wednesday, October 5th
EUR/USD
Current price: 1.1217 (0.1%)
Session range: Open 1.1204 High 1.1230 Low 1.1199
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1092 R. 1.1294
Main drivers: US ADP Nonfarm Employment Change, US ISM Non-Manufacturing PMI
Overview: Currently the pair is extending its yesterday’s rebound performed after Bloomberg agency had stated that ECB could cut off its further monetary policy easing program. Yesterday on the back of Bloomberg’s announcement the pair has reversed its two-week lows spiking the level of 1.1200. Adding to that, US bulls are out of steam today in wake of American dollar’s price correction actions. Yesterday, USD index hit a new three-month high triggered by risen probability of this year Fed rate hike.
GBP/USD
Current price: 1.2714 (-0.1%)
Session range: Open 1.2727 High 1.2747 Low 1.2685
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.2626 R. 1.2910
Main drivers: UK Services PMI, US ADP Nonfarm Employment Change, US ISM Non-Manufacturing PMI
Overview: The pound is extremely weak today suppressed by ongoing “hard Brexit” fears. Currently the pair is dipping to the red zone refreshing its three-decade lows at the level of 1.2685. Yesterday, the pair has ignored UK Construction PMI and continued its downside surge pressured by comments of Britain’s PM T.May coupled with strong fall of pound in cross with euro. Today, UK will release single and the most important release of this Wednesday - Services PMI which expectedly will show slight expansion in the service sector but glancing back on yesterday’s situation Brexit fears could mute positive results of UK’s data.
USD/JPY
Current price: 102.85 (0.0%)
Session range: Open 102.90 High 103.02 Low 102.67
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 101.07 R. 103.87
Main drivers: US ADP Nonfarm Employment Change, US ISM Non-Manufacturing PMI
Overview: Continuing risk hunger is still pushing the yen lower against US dollar. Currently the pair has stuck near its monthly highs finding strong resistance at 103.00 level. Moreover, unceasing BOJ talks of further monetary policy easing are also granting extra leg to the USD/JPY further upside. The major will continue to track global market sentiment awaiting for US dataflow for fresh impetus.
AUD/USD
Current price: 0.7615 (0.0%)
Session range: Open 0.7618 High 0.7647 Low 0.7596
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 0.7557 R. 0.7721
Main drivers: US ADP Nonfarm Employment Change, US ISM Non-Manufacturing PMI, Crude Oil Inventories.
Overview: The pair has performed a solid comeback finding resistance at mid-0.7600 level generally driven by positive Australian Retail Sales that were released today in early Asia. However, the pair trimmed off part of its gains and now is eyeing back on its overnight lows near the level of 0.7600 as US bulls are staying in charge as American dollar is showing strong recovery across the board. On the other hand, continuing demand for higher-yield assets is supporting Aussie capping downside traction.
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Thursday, October 6th
EUR/USD
Current price: 1,1185 (-0,2%)
Session range: Open 1.1205 High 1.1214 Low 1.1184
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1165 R. 1.1253
Main drivers: US Initial Jobless Claims
Overview: Today American dollar trades on a firm note against its rivals majorly supported by risen probability of Fed hawkish interest rate move. Once again the major has broken through the level of 1.1200 as the market is still digesting yesterdays, stronger-than-expected economic data provided by US economy. Only secondary data releases are scheduled in today’s data calendar. Meanwhile, the US NFP report will take center-stage tomorrow.
GBP/USD
Current price: 1.2724 (-0.2%)
Session range: Open 1.2748 High 1.2761 Low 1.2696
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.2650 R. 1.2820
Main drivers: US Initial Jobless Claims
Overview: And once again the pound gets under fresh selling pressure on the back of ongoing “hard Brexit” fears triggered by PM of UK T.May last Sunday. The pound has stalled its recovery seen in Asia and now is eyeing to retest its key resistance level of 1.2700. Moreover, the cable stays impervious to recent streak of bullish UK economic releases as pound bears remain extremely strong lately. Today amid lack of relevant macro releases from Britain traders will await for latest data from US labor market due later in NA session.
USD/JPY
Current price: 103.64 (0.1%)
Session range: Open 103.50 High 103.75 Low 103.34
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 102.28 R. 104.28
Main drivers: US Initial Jobless Claims
Overview: The pair has regained its bullish momentum trimming yen’s overnight recovery and climbing back above mid-103 level. The pair continues its north directed marathon for the eighth session in a row gaining for 250 pips since the beginning of this week. Moreover, the US dollar remains well bid today as market participants are still digesting yesterday’s strong macro releases from US economy which are rising probability of Fed rate-hike move in this year. Today in absence of any significant data releases risk sentiment will remain as the key driver for the pair.
AUD/USD
Current price: 0.7597 (-0.3%)
Session range: Open 0.7621 High 0.7624 Low 0.7577
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 0.7567 R. 0.7671
Main drivers: US Initial Jobless Claims
Overview: Today the AUD/USD major extends its bearish trend refreshing its two-week lows below the level of 0.7600 despite better-than-expected Australian Trade Balance released during Asia. Yesterday the pair managed to recover part of its losses majorly supported by drop in Crude Oil Inventories. However, strong releases from US economy have risen chances of this year Fed rate-hike thereby muting all Aussie’s attempts to recover. Today in view of light data calendar all traders will set up their focus on main event of this week – NFP that are scheduled for tomorrow.
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Friday, October 7th
GBP/USD
Current price: 1.2453 (-1.3%)
Session range: Open 1.2615 High 1.2625 Low 1.1991
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.2399 R. 1.2715
Main drivers: UK Manufacturing Production, US Nonfarm Payrolls, US Unemployment Rate
Overview: The pound is consolidating part of its unseen drop of 5 figures. Today in the mid-Asia the GBP/USD pair fell from 1.2610 to its record lows of 1.1991 and there are no direct cues on what caused this collapse. Some analytics believe that it is market’s reaction on French President F.Hollande comments regarding Brexit negotiations, some others think that “Fat finger” or crash in bank liquidity system could cause this type of consequences. But for sure it became possible only after T.May comments of “hard Brexit” that had triggered major sell-off of the pound. Currently the GBP/USD pair is trading near mid-1.24 level partially recovering its position.
EUR/USD
Current price: 1.1124 (-0.2%)
Session range: Open 1.1150 High 1.1153 Low 1.1104
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1095 R. 1.1241
Main drivers: US Nonfarm Payrolls, US Unemployment Rate
Overview: The EUR/USD pair has followed global markets sentiment and hit its two-month lows at 1.1100 region. Currently euro remains in its bearish trend majorly led by strong demand for US currency triggered by massive dollar’s upsurge in cross with GBP. Moreover, ongoing speculations of a stronger-than-expected NFP are also supporting USD this Friday. However, the downside of the pair remains limited as euro also has refreshed its 7-year highs in cross with pound thereby preventing further drop in the pair.
USD/JPY
Current price: 103.88 (-0.1)
Session range: Open 103.94 High 104.04 Low 103.53
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 103.00 R. 104.64
Main drivers: US Nonfarm Payrolls, US Unemployment Rate
Overview: The yen has erased its recovery led by pound’s-crash and now again is eyeing on its yesterday’s highs in the region of 104.00. However, after wave of nervousness triggered by pounds huge drop the pair met fresh bids as BOJ Governor H. Kuroda provided markets with fresh portion of dovish comments regarding Japanese monetary policy. Now focus shifts to the much awaited US Nonfarm Payrolls lending some support to the safe-haven currencies such as Japanese yen.
USD/CHF
Current price: 0.9816 (0.1%)
Session range: Open 0.9809 High 0.9834 Low 0.9800
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 0.9702 R. 0.9870
Main drivers: US Nonfarm Payrolls, US Unemployment Rate
Overview: Today the US dollar is trading on a firm note against its Swiss counterpart. The dollar remains well bid across the market lately on the expectations of a stronger NFP report coupled with sharp cable’s fall of 6%. Furthermore, weaker-than-expected Swiss CPI and positive US Initial Jobless Claims released on Thursday additionally are stimulating pair’s bulls. However, the upside also remains capped on the back of expanding risk-off sentiments ahead of crucial NFP release that is lending some support to the safe-haven currency such as Switzerland’s franc.
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Monday, October 17th
GBP/USD
Current price: 1,2160 (-0,2%)
Session range: Open 1.2155 High 1.2198 Low 1.2150
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.2110 R. 1.2296
Main drivers: US Industrial Production
Overview: The GBP/USD cross has opened today with 30 pips gap thereby attracting major part of investors’ attention. The pound continues to wobble near its record low level remaining under strong selling pressure as rumors of “hard Brexit” are still influencing the market. Moreover, the latest comments from French President F.Hollande and German Chancellor A.Merkel are also adding fuel to “hard Brexit” fears. Meanwhile, growing probability of this year Fed rate-hike is accelerating US bulls limiting pound’s chances of immediate recovery.
EUR/USD
Current price: 1,0986 (0,1%)
Session range: Open 1.0972 High 1.1001 Low 1.0963
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.0910 R. 1.1086
Main drivers: EU CPI, US Industrial Production, ECB President M.Draghi’s Speech
Overview: Today the euro has recovered a smile against its American peer bouncing-off its three-month lows and getting closer to psychological mark of 1.1000. Seems that USD bulls are out of steam at the start of this week as traders are taking profit off the table after strong rally witnessed last week. Despite the current recovery, the major remains under bearish pressure in light of increasing chances of interest rate-hike by Fed on its meeting in December, 2016. However, the ongoing talks of cutting the ECB monetary policy easing program are supporting the pair allowing the euro to take some advantage over the dollar. Across the pond, the Eurozone’s CPI will take center stage this Monday with ECB President M.Draghi and FOMC Member S.Fischer speeches scheduled later in NA session.
USD/JPY
Current price: 104.05 (-0.1%)
Session range: Open 104.35 High 104.37 Low 103.92
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 103.21 R. 104.95
Main drivers: US Industrial Production
Overview: The dollar/yen pair is hovering near 104 level at the beginning of this week posting its daily gains 104.37. Following market’s sentiment the yen stays weaker against its American counterpart as raising chances of this year Fed hawkish move are supporting US currency. Adding to that, disappointing Japanese Industrial Production on the monthly basis released in Asia is helping the pair to hold its current level. Nothing much is scheduled for the pair so it will follow the global market’s direction.
USD/CAD
Current price: 1.3164 (0.2%)
Session range: Open 1.3126 High 1.3184 Low 1.3126
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.3031 R. 1.3271
Main drivers: US Industrial Production
Overview: The pair has recovered part of its losses this Monday after two consecutive south directed sessions. For two past trading session the pair has lost more than two cents after facing strong resistance near the region of 1.3100. Today Canadian dollar has lost its upbeat mood against its neighbor as softer oil price are dragging the loonie lower at the start of this week. Only secondary data ahead today so the oil price will remain as a key driver for the pair.
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Tuesday, October 18th
GBP/USD
Current price: 1.2246 (0.5%)
Session range: Open 1.2184 High 1.2274 Low 1.2176
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.2106 R. 1.2274
Main drivers: UK CPI, US CPI
Overview: The greenback is losing its bullish momentum across the board as market is still digesting yesterday’s tepid US macroeconomic data allowing the pair to build some recovery during Asia. Moreover, seems that fears of a ‘hard Brexit’ are slowly cooling-off thereby bringing relief to UK’s currency. Today, center stage will take UK consumer price index which expectedly will show that cost of living ticked higher.
EUR/USD
Current price: 1.1014 (0.1%)
Session range: Open 1.0999 High 1.1027 Low 1.0995
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.0946 R. 1.1034
Main drivers: US CPI
Overview: The euro/dollar consolidates above key level of 1.1000 amid broadly based USD selling pressure. The euro has managed to build some recovery this morning as the greenback remains weaker today amid worse-than-expected yesterday’s data releases. Next in focus remains US inflation report that will be eagerly watched for fresh clues regarding further Fed rate-hike.
NZD/USD
Current price: 0.7196 (0.9%)
Session range: Open 0.7133 High 0.7199 Low 0.7128
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7052 R. 0.7221
Main drivers: US CPI
Overview: The NZD/USD cross extends its growth seen since the beginning of the week refreshing its 7-day highs near 0.7200 region. The kiwi has performed 50 pips jump this morning majorly reacting on better-than-expected NZ CPI report released earlier. Moreover, oil and metals’ prices are also showing moderate growth thereby supporting commodity-linked NZ dollar.
AUD/USD
Current price: 0.7679 (0.7%)
Session range: Open 0.7628 High 0.7692 Low 0.7624
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7565 R. 0.7690
Main drivers: US CPI
Overview: The Aussie performs significant upsurge move refreshing to its two-week highs marked near the region of 0.77 in Asia reacting on RBA meeting minutes’ outcome and Governor P.Lowe’s comments. RBA’s Governor noted that AUD current level is suitable for the further economic growth. Moreover, higher commodity prices are also supporting resource-linked Australian currency lately extending its bullish momentum for a fifth-day. Now all focus shifts to US CPI report, while Chinese GDP scheduled on next Asia will also bring some impetus for the major.
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Thursday, October 20th
EUR/USD
Current price: 1,0976 (0,0%)
Session range: Open 1.0973 High 1.0981 Low 1.0951
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.0928 R. 1.1026
Main drivers: ECB Interest Rate Decision, Philadelphia Fed Manufacturing Index, ECB Press Conference, US Existing Home Sales, EU Leaders Summit
Overview: Today the US dollar extends its bullish mood following H.Clinton’s win on the third and final presidential election debate. However, growing caution across the market ahead of crucial ECB Interest Rate Decision is limiting pair’s movement range. It is widely expected that ECB wont surprise the market with its decision today but the pair could replicate the tone of the statement that will be digested later across the market.
AUD/USD
Current price: 0.7668 (-0.7%)
Session range: Open 0.7721 High 0.7736 Low 0.7654
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 0.7634 R. 0.7774
Main drivers: Philadelphia Fed Manufacturing Index, US Existing Home Sales
Overview: The Aussie loses its smile today and breaks six-day winning streak responding on the negative Australian jobs report. As it was said on the last RBA meeting minutes weaker labor market wellness remains a key factor for the next RBA interest rate decision thereby heating concerns of further monetary policy easing. Moreover, minor slide in oil prices combined with growing demand for the greenback are also adding bullish momentum to the pair.
USD/CAD
Current price: 1.3170 (0.4%)
Session range: Open 1.3114 High 1.3178 Low 1.3109
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.2950 R. 1.3222
Main drivers: Philadelphia Fed Manufacturing Index, US Existing Home Sales
Overview: Currently the USD/CAD pair is giving away the most part of its losses and now is eyeing to refresh its weekly highs. Yesterday the pair has performed significant down surge as BoC interest rate decision met market’s expectations at 0.5% coupled with strong drop in crude oil inventories that supported resource-linked Canadian currency. However, the spike was faded quickly as more dovish comments from BoC Governor S.Poloz of lowering economic growth forecast forced the pair to retreat from its multi-week lows. Moreover, minor correction in oil price and expanding risk-on mood triggered by H.Clinton win in the third election debate are pushing the pair in north direction.
USD/CHF
Current price: 0.9890 (0.0)
Session range: Open 0.9890 High 0.9910 Low 0.9883
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.9860 R. 0.9920
Main drivers: Philadelphia Fed Manufacturing Index, US Existing Home Sales
Overview: Seems that CHF bulls remain unimpressed by positive Swiss Trade Balance allowing the pair to grow above the level of 0.9900 this morning. Moreover, new wave of risk appetite hits the market as the final US election debates are over with H.Clinton’s lead thereby suppressing Swiss franc’s safe-haven status. While upbeat sentiments around US dollar remain as a main driver for the major, market participants have set up their focus on the upcoming ECB Interest Rate Decision that also could bring some impetus for the pair during Europe.
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Friday, October 21st
EUR/USD
Current price: 1.0882 (-0.4%)
Session range: Open 1.0929 High 1.0931 Low 1.0879
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.0837 R. 1.1085
Main drivers: EU Leaders Summit, FOMC Member D.Tarullo Speech
Overview: The common currency remains well offered against its American counterpart refreshing its 7-month lows below the level of 1.0900 mainly driven by yesterday’s ECB Governor M.Draghi dovish comments. Yesterday on ECB Press Conference Draghi stated that bank did not discuss monetary policy easing program. Moreover, the ECB President has noted that the question about ending of the monetary policy easing program also has not been discussed so bank will keep it stay-and-see mode to determine further direction despite numerous talks regarding this question. In the day ahead, markets will continue to digest the latest developments around ECB while Europe remains deadly quite.
USD/JPY
Current price: 103.77 (-0.2%)
Session range: Open 103.95 High 104.22 Low 103.74
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 103.02 R. 104.56
Main drivers: FOMC Member D.Tarullo Speech
Overview: Despite shrinking risk appetite today the dollar/yen pair keeps it buying interest as dollar remains strong lately. The demand for the US dollar was mainly driven by a strong fall of the EUR/USD pair after dovish statement of the ECB President during press conference. However, the upside also remains capped as markets are digesting the latest comments from BOJ Chief H.Kuroda that inflation level is moving toward its goal level of 2% thereby lending support to the Japanese currency.
GBP/USD
Current price: 1.2226 (-0.2%)
Session range: Open 1.2254 High 1.2262 Low 1.2223
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.2164 R. 1.2340
Main drivers: FOMC Member D.Tarullo Speech
Overview: Currently the major extends its retreat from weekly highs amid broadly based dollar’s strength seen lately. Yesterday US dollar has picked up its bid tone after comments of the ECB President M.Draghi considered by market as dovish. Moreover, the pair is losing points as risk aversion sentiment is gathering pace thereby stimulating major’s bears. Only secondary releases are scheduled in data calendar for Friday, so the pair will remain floating influenced only by global markets sentiment.
AUD/USD
Current price: 0.7630 (0.0%)
Session range: Open 0.7626 High 0.7653 Low 0.7617
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 0.7547 R. 0.7773
Main drivers: FOMC Member D.Tarullo Speech
Overview: Seems that US bulls are losing control over the pair as Aussie bounces-off its overnight lows located near the level of 0.7600. Following sharp reversal the Australian dollar performs minor recovery this morning after disappointing jobs report seen on Thursday. However, pair’s recovery remains limited as persisting broadly based USD strength is still weighing the pair. Nothing much is scheduled in economic data calendar from both sides, so the pair will stay under influence of global market’s sentiment during the day.
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Tuesday, October 25th
EUR/USD
Current price: 1.0872 (-0.1%)
Session range: Open 1.0881 High 1.0887 Low 1.0866
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.0840 R. 1.0920
Main drivers: US CB Consumer Confidence, ECB President M.Draghi’s Speech
Overview: Currently the EUR/USD pair remains flat trading in 20 pips narrow range in its comfort zone around 1.0880 spot. Yesterday the pair failed to break through the level of 1.0900 as several Feadspeaks provided market with fresh cues of Fed rate-hike before the end of the year thereby supporting US currency. However, yesterday’s auspicious bloc of PMIs is still supporting common currency thereby preventing pair’s sharp fall. Today center stage will take ECB Chief M.Draghi with his lecture about stability, equity, and monetary policy in Berlin during NA session.
GBP/USD
Current price: 1.2223 (-0.1%)
Session range: Open 1.2239 High 1.2240 Low 1.2210
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2160 R. 1.2286
Main drivers: US CB Consumer Confidence, BoE Governor M.Carney’s Speech
Overview: The British pound remains capped in its narrow range of 20 pips this morning despite broadly based dollar’s strength. Seems that the pair has stuck near the level of 1.2230 as several hawkish speeches of the FOMC members have raised expectations of this year Fed rate hike. However, the ongoing demand for higher-yielding assets coupled with decreasing worries around “hard Brexit” are supporting sterling lately. Nevertheless, today’s speech of BoE Governor M.Carney about the economic consequences of the Brexit will be able to bring some volatility around the sterling and crash pair’s narrow range.
USD/JPY
Current price: 104.43 (0.2%)
Session range: Open 104.17 High 104.50 Low 104.13
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.2160 R. 1.2286
Main drivers: US CB Consumer Confidence
Overview: Seems that US bulls have regained a smile after short consolidative phase seen in Asia. Now the pair is eyeing to retake its key resistance level of 104.50 as traders have started to price-in next Fed hawkish move after most of the FOMC members had stated that they are expecting to rise rates this year. Moreover, ongoing risk-on sentiment is additionally weighing on Japanese currency last days. Looking ahead, the pair will remain tracing risk trend until CB Consumer Confidence hits the wire during NA session.
USD/CAD
Current price: 1.3333 (0.3%)
Session range: Open 1.3286 High 1.3364 Low 1.3277
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.3209 R. 1.3435
Main drivers: US CB Consumer Confidence
Overview: The pair has entered in consolidative phase after sharp rally triggered by BoC Governor S.Poloz, Yesterday S.Poloz stated that his latest comments of further monetary policy easing were not related to rate decrease thereby stimulating demand for Canadian currency. However, risen expectations of this year Fed rate-hike have forced the pair to retreat from its lows to its comfort zone. Expectedly the pair will continue to stay under pressure as growing prospects of this year Fed rate-hike are strongly supporting greenback. On the other hand, higher oil prices are also boosting demand for commodity-linked Loonie limiting pair’s downside traction.
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Thursday, October 27th
GBP/USD
Current price: 1.2208 (-0.3%)
Session range: Open 1.2246 High 1.2250 Low 1.2200
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2123 R. 1.2309
Main drivers: UK GBP, US Core Durable Goods Orders, US Pending Home Sales
Overview: The GBP plays defensively this week but nevertheless has recovered from its multi-week lows marked near 1.2080 level. Currently the pound is running in a quiet mode keeping its narrow range of 20 pips as upcoming UK preliminary GDP report expected in early Europe brings cautious sentiment across the market. After UK data traders will shift their focus to the US data bloc scheduled for NA session that also will be able to provide the pair with short term impetus.
EUR/USD
Current price: 1.0907 (0.0%)
Session range: Open 1.0908 High 1.0917 Low 1.0892
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.0837 R. 1.0981
Main drivers: US Core Durable Goods Orders, US Pending Home Sales
Overview: It seems like buying interest around the greenback has run out of steam however leaving the pair capped near the level of 1.0900. The pair manages to keep its consolidative pattern in anticipation of crucial reports from US side following dollar’s dynamics as it remains the almost exclusive driver during this week. Now traders are awaiting US Durable Goods Orders, US Pending Home Sales and reports from US labor market for a fresh insight on the US interest rates decision.
NZD/USD
Current price: 0.7160 (0.1%)
Session range: Open 0.7153 High 0.7163 Low 0.7144
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 0.7124 R. 0.7198
Main drivers: US Core Durable Goods Orders, US Pending Home Sales
Overview: Seems that Kiwi bulls somehow have fought back control over pair pushing it to its daily highs posted in the region of 0.7160. However, expanding NZ trade deficit released this morning and persisting risk-off moods are capping pair’s upside traction holding it in its comfort zone around the mid-0.71 level. For today NZ’s docket is empty so traders will focus their attention on US Durable Goods Orders and Pending Home Sales that will be released later in NA session.
USD/JPY
Current price: 104.65 (0.2%)
Session range: Open 104.47 High 104.74 Low 104.29
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 103.76 R. 104.96
Main drivers: US Core Durable Goods Orders, US Pending Home Sales
Overview: The dollar/yen pair keeps its minor growth intensity for the fourth session in a row now eyeing on the multi-month highs marked at 104.80 region on Tuesday. Moreover, the yen keeps losing position against its American counterpart despite low risk appetite and the latest hawkish comments of BoJ Governor H.Koruda. Today during interview H.Koruda noted that he doesn’t see immediate need of expanding short-term monetary policy easing program thereby supporting Japanese currency. Strength around greenback is explained by growing expectations of Fed hawkish move regarding its interest rate by the end of the year. Today most likely the pair will continue to keep its upward trajectory, until of US data bloc release, which will be published in the NA session.
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