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Friday, July 15th
GBP/USD
Current price: 1.3406 (0.5%)
Session range: Open 1.3343 High 1.3482 Low 1.3324
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2939 R. 1.3676
Main drivers: Speech of BoE Gov M.Carney, US CPI, US Retail Sales.
Overview: The GBP/USD tested two-week high this morning winged by BoE Interest Rate Decision to leave a rate in flat, thereby squashing markets expectations of a rate cut in July. Also, part of gains of the cable could be related to improved risk appetite fueled by better-then-expected Chinese macro data released this morning.
USD/JPY
Current price: 105.87 (0.5%)
Session range: Open 105.34 High 106.33 Low 105.04
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 103.11 R. 107.07
Main drivers: US CPI, US Retail Sales.
Overview: The pair is still moving in north direction flirting with fresh this month highs in 106.30 area mainly driven by better risk sentiments. However, sharp pull back during this day could be related to profit-taking actions performed by market participants.
EUR/USD
Current price: 1.1147 (0.3%)
Session range: Open 1.1119 High 1.1150 Low 1.1101
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1043 R. 1.1204
Main drivers: EU CPI, US CPI, US Retail Sales.
Overview: The pair has been keeping its bullish trend since Monday on the back of prevailing risk-on sentiment across the market. Yesterday the pair also responded on BoE decision to leave a rate as it was spiking the level 1.1170 last seen seven days ago. However, the spike faded quickly sending the pair to its normal range near 1.1100 level.
AUD/USD
Current price: 0.7652 (0.3%)
Session range: Open 0.7631 High 0.7678 Low 0.7607
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7563 R. 0.7687
Main drivers: US CPI, US Retail Sales.
Overview: The pair spiked its over than two-month high at 0.7676 level in response to the upbeat Chinese data. However, the pair has lost its upside momentum and now is trading in flat range near 0.7630 as traders are awaiting for major data releases from US.
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Thursday, July 21st
GBP/USD
Current price: 1.3245 (0.3%)
Session range: Open 1.3208; High 1.3276; Low 1.3203
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.3003 R. 1.3329
Main drivers: UK Retail Sales, Philadelphia Fed Manufacturing Index, US Existing Home Sales
Overview: Broad based US dollars’ weakness coupled with upbeat data from UK’s labor market has allowed pound bulls to take control over the pair and break through the level of 1.3200. Today the pair is consolidating part of its gains hovering in the region 1.3020-40 awaiting for fresh impute from the upcoming UK retail sales data for further direction. Furthermore, EU Interest Rate Decision also will be closely watched, as it is the main risk event of this week.
EUR/USD
Current price: 1.1026 (0.1%)
Session range: Open 1.1014; High 1.1048; Low 1.1005
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.0959 R. 1.1057
Main drivers: EU Interest Rate Decision, Philadelphia Fed Manufacturing Index, Speech of ECB President Draghi, US Existing Home Sales
Overview: Euro is trading on a firm note against US dollar as new wave of risk-on sentiment are pushing the pair to todays high at 1.1047. However the pair won’t perform any sharp actions as investors are staying cautious ahead of the most volatile event of this week ECB Interest Rate Decision watching for the impact of the Brexit vote.
USD/JPY
Current price: 107.01 (0.2%)
Session range: Open 106.84; High 107.49; Low 106.87
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 105.38 R. 107.76
Main drivers: Philadelphia Fed Manufacturing Index, US Existing Home Sales
Overview: The pair refreshed its six-week high in Asia after Japanese government announced its intention to expand stimulus package, sending the pair to the level of 107.50. However, the pair has retreated from its highs and now is holding near the level of 107 as shrinking risk appetite across the market during Asia has supported the yen as safe-haven currency. Moreover, the minor pull back could be related to the price correction as yens bulls are receiving support from profit taking actions after pairs tow-week climb for over the 700 pips.
NZD/USD
Current price: 0.6991 (-0.4%)
Session range: Open 106.84; High 107.49; Low 106.87
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.6950 R. 0.7087
Main drivers: Philadelphia Fed Manufacturing Index, US Existing Home Sales
Overview: The pair sinks for 7th session in a row losing up to 300 points mainly driven by speculations of RBNZ with further rate cut. The pair broke through its key support level of 0.70 in early Asia completely ignoring higher oil prices. Moreover, the pair received additional bearish pressure earlier this week after NZ has released lower-than-expected CPI data.
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Wednesday, July 13th
GBP/USD
Current price: 1,3230 (-0,1%)
Session range: Open 1,3245; High 1,3336; Low 1.3220
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2848, R. 1.3496
Main drivers: Speech of FOMC Member P.Harker, Speech of FOMC Member R.Kaplan, US Crude Oil Inventories
Overview: The pair is still keeping its upward momentum, gaining more than 4 cents since lows witnessed near the level of 1.2800. The pair has been supported after BoE M.Carney added optimism in the UK political arena with his Financial Stability Report yesterday. Furthermore, the market also has gained some positive note after Theresa May was appointed as new PM of Britain. However, the traders will keep their focus on the main event of this week – UK’s Interest Rate Decision scheduled for tomorrow.
USD/CAD
Current price: 1.3060 (0.1%)
Session range: Open 1.3041; High 1.3085; Low 1.3034
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.2898; R. 1.3207
Main drivers: BoC Monetary Policy Report, Canadian Interest Rate Decision, US Crude Oil Inventories, Speech of BoC Gov S.Poloz
Overview: Today the pair is experiencing pressure from both sides as broad based US dollars weakness is sending the major lower, however, softer oil prices are activating Loonie bears. Now traders will await for BoC Monetary Policy Report and Interest Rate Decision for further momentum.
USD/JPY
Current price: 104.35 (-0.33%)
Session range: Open 104.66; High 104.87; Low 103.94
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 101.50; R. 106.60
Main drivers: Chinese Trade Balance, Speech of FOMC Member P.Harker, Speech of FOMC Member R.Kaplan
Overview: Yen bears took a breath this morning leaving the pair wobbling just above 104 level. The pair rose sharply from sub-100 levels since Monday with the main trigger - expectations of additional fiscal stimulus from Japanese government. However, the pair slowed down this morning as traders are staying cautious in front of upcoming Chinese Trade Balance boosting the yen as safe-haven currency.
EUR/USD
Current price: 1.1060 (0.0%)
Session range: Open 1.1060; High 1.1071; Low 1.1042
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.1005; R. 1.1155
Main drivers: EU Industrial Production , Speech of FOMC Member P.Harker, Speech of FOMC Member R.Kaplan
Overview: The pair has lost its positions after two days of consecutive gains with the highest point at 1.1130 mainly driven by lowered risk appetite. In absence of fundamental drivers, the pair will stay influenced by global market sentiments during this day.
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Thursday, July 14th
GBP/USD
Current price: 1,3235 (0.7%)
Session range: Open 1.3147 High 1.3275 Low 1.3105
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.3001 R. 1.3407
Main drivers: BoE Interest Rate Decision, BoE MPC Meeting Minutes, US PPI.
Overview: The pair has recovered part of its losses on the back of improved risk-on sentiment this day. However, the pound recovery seems to be very fragile, as investors are staying cautious today on the back of upcoming BoE MPC Meeting Minutes. It is the first BoE meeting since “Brexit” vote and market participants are expecting that BoE will decrease its rate for 25 of base points for the first time in seven years.
USD/JPY
Current price: 105.60 (1.1%)
Session range: Open 104.48 High 105.76 Low 103.97
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 103.43 R. 105.92
Main drivers: US Initial Jobless Claims, US PPI.
Overview: Today the yen once again came under bearish pressure as market is still digesting Japanese PM Sh.Abe announcement about further economic stimulation. The pair has resumed its upward momentum after Wednesdays short-term pause, hitting its key resistance level of 105 that is the highest mark since “Brexit” vote.
USD/CAD
Current price: 1.2936 (-0.3%)
Session range: Open 1.2977 High 1.2989 Low 1.2906
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2849 R. 1.3145
Main drivers: US Initial Jobless Claims, US PPI, Canadian New Housing Price Index.
Overview: Loonies bid tone is still prevailing in the pair sending USD/CAD to the region near 1.29 level. The pair bears are still fueled by yesterdays BoC Interest Rate Decision to leave its rate in flat with upper oil price despite yesterdays growth in oil inventories. Today the pair will remain at the mercy of oil price until the block of macro data from US with Canadian New Housing Price Index.
EUR/USD
Current price: 1.1105 (0.1%)
Session range: Open 1.1089 High 1.1127 Low 1.1085
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.1006 R. 1.1160
Main drivers: US Initial Jobless Claims, US PPI.
Overview: The pair has continued to follow its bullish trend since Monday on the back of the expanding risk appetite as concerns about “Brexit” potential consequences are ceasing. In absence of fundamental drivers from EU, the pair will track Euro cross with Sterling for further momentum until NY session with US macro releases.
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Friday, July 15th
GBP/USD
Current price: 1.3406 (0.5%)
Session range: Open 1.3343 High 1.3482 Low 1.3324
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2939 R. 1.3676
Main drivers: Speech of BoE Gov M.Carney, US CPI, US Retail Sales.
Overview: The GBP/USD tested two-week high this morning winged by BoE Interest Rate Decision to leave a rate in flat, thereby squashing markets expectations of a rate cut in July. Also, part of gains of the cable could be related to improved risk appetite fueled by better-then-expected Chinese macro data released this morning.
USD/JPY
Current price: 105.87 (0.5%)
Session range: Open 105.34 High 106.33 Low 105.04
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 103.11 R. 107.07
Main drivers: US CPI, US Retail Sales.
Overview: The pair is still moving in north direction flirting with fresh this month highs in 106.30 area mainly driven by better risk sentiments. However, sharp pull back during this day could be related to profit-taking actions performed by market participants.
EUR/USD
Current price: 1.1147 (0.3%)
Session range: Open 1.1119 High 1.1150 Low 1.1101
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1043 R. 1.1204
Main drivers: EU CPI, US CPI, US Retail Sales.
Overview: The pair has been keeping its bullish trend since Monday on the back of prevailing risk-on sentiment across the market. Yesterday the pair also responded on BoE decision to leave a rate as it was spiking the level 1.1170 last seen seven days ago. However, the spike faded quickly sending the pair to its normal range near 1.1100 level.
AUD/USD
Current price: 0.7652 (0.3%)
Session range: Open 0.7631 High 0.7678 Low 0.7607
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7563 R. 0.7687
Main drivers: US CPI, US Retail Sales.
Overview: The pair spiked its over than two-month high at 0.7676 level in response to the upbeat Chinese data. However, the pair has lost its upside momentum and now is trading in flat range near 0.7630 as traders are awaiting for major data releases from US.
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Monday, July 18th
EUR/USD
Current price: 1.1057 (0.2%)
Session range: Open 1.1047; High 1.1073; Low 1.1044
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1031 R. 1.1070
Main drivers: None
Overview: The pair is losing its upside momentum consolidating its minor recovery from this day low near 1.1044 area after failed coup attempt in Turkey over the weekend. However, the strong Fridays US data is still weighing the pair limiting its recovery. Due to data light calendar today the pair will follow risk sentiment to gain further direction.
GBP/USD
Current price: 1.3268 (0.6%)
Session range: Open 1.3186; High 1.3291; Low 1. 3183
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.3150 R.1.3312
Main drivers: None
Overview: The pound has recovered the smile against its US dollar and now is trading on a firm note. The pair dipped to 1.3190 in response to the latest news from Turkey. Nevertheless, the pair has recovered its losses and now is keeping its bullish trend in the light of opportunity to trade with countries directly outside EU.
NZD/USD
Current price: 0.7133 (0%)
Session range: Open 0.7133; High 0.7154; Low 0.7068
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7014 R. 0.7185
Main drivers: None
Overview: The pair is erasing its last week gains from 26-month high level amid speculations about a rate cut from the RBNZ. Moreover, lower-than-expected NZ CPI has added pressure to Kiwi this morning sending the pair under the key support level of 0.7100.
USD/JPY
Current price: 105.60 (0.7%)
Session range: Open 105.35; High 106.02; Low 105.31
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 104.93 R.106.28
Main drivers: None
Overview: The pair has ignored new wave of risk aversion after the latest news from Turkey advancing the level of 105 as traders are still digesting Japanese PM Sh.Abe announcement about additional fiscal stimulus. Today most likely the pair will keep its bullish trend remaining under the risk sentiment influence coupled with inactive Japanese markets in observance of Marine Day.
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Tuesday, July 19th
GBP/USD
Current price: 1.3221 (-0.3%)
Session range: Open 1.3255 High 1.3277 Low 1.3171
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.3121 R.1.3379
Main drivers: UK CPI, US Building Permits
Overview: The pair has erased part of its yesterdays gains descending back to level 1.3200. At the moment market participants are staying cautious limiting the pairs actions ahead of Britain’s CPI that most likely will show upbeat results against previous May’s figure.
EUR/USD
Current price: 1.1057 (-0.2%)
Session range: Open 1.1075 High 1.1081 Low 1.1048
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.1018 R.1.1112
Main drivers: German ZEW Economic Sentiment, EU ZEW Economic Sentiment, US Building Permits.
Overview: EUR/USD is trading in 20 pips narrow range this morning near 1.1075 level. The pair remained directionless on the back of absence of fundamentals during the Asia. However, now traders are staying alert towards German and Eurozone ZEW economic sentiment that will set up further pairs direction. Meantime, the most expected event of this week for the main currency pair remains ECB Interest Rate Decision scheduled for this Thursday that will determine mid-term pairs direction.
AUD/USD
Current price: 0.7503 (-1.2%)
Session range: Open 0.7591 High 0.7593 Low 0.7490.
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 0.7438 R. 0.7622
Main drivers: US Building Permits
Overview: The pair is losing its positions but still is trading above the level of 0.75. Currently the pair is testing 7-day lows falling sharply as RBA provided more dovish overview about employment and housing sector on its Meeting Minutes in Asia. Moreover, softer oil prices added some weigh to oil linked AUD today.
USD/CAD
Current price: 1.3014 (0.5%)
Session range: Open 1.2944 High 1.3027 Low 1.2939
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2868 R. 1.3058
Main drivers: US Building Permits
Overview: The pair has consolidated part of its recovered positions after yesterdays rally as we can see oil price stabilization over the last couple of hours. Meanwhile, further upside momentum was muted as dollar has stopped its upside momentum against its major peers on the back of data-empty calendar during Asia.
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Thursday, July 21st
GBP/USD
Current price: 1.3245 (0.3%)
Session range: Open 1.3208; High 1.3276; Low 1.3203
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.3003 R. 1.3329
Main drivers: UK Retail Sales, Philadelphia Fed Manufacturing Index, US Existing Home Sales
Overview: Broad based US dollars’ weakness coupled with upbeat data from UK’s labor market has allowed pound bulls to take control over the pair and break through the level of 1.3200. Today the pair is consolidating part of its gains hovering in the region 1.3020-40 awaiting for fresh impute from the upcoming UK retail sales data for further direction. Furthermore, EU Interest Rate Decision also will be closely watched, as it is the main risk event of this week.
EUR/USD
Current price: 1.1026 (0.1%)
Session range: Open 1.1014; High 1.1048; Low 1.1005
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.0959 R. 1.1057
Main drivers: EU Interest Rate Decision, Philadelphia Fed Manufacturing Index, Speech of ECB President Draghi, US Existing Home Sales
Overview: Euro is trading on a firm note against US dollar as new wave of risk-on sentiment are pushing the pair to todays high at 1.1047. However the pair won’t perform any sharp actions as investors are staying cautious ahead of the most volatile event of this week ECB Interest Rate Decision watching for the impact of the Brexit vote.
USD/JPY
Current price: 107.01 (0.2%)
Session range: Open 106.84; High 107.49; Low 106.87
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 105.38 R. 107.76
Main drivers: Philadelphia Fed Manufacturing Index, US Existing Home Sales
Overview: The pair refreshed its six-week high in Asia after Japanese government announced its intention to expand stimulus package, sending the pair to the level of 107.50. However, the pair has retreated from its highs and now is holding near the level of 107 as shrinking risk appetite across the market during Asia has supported the yen as safe-haven currency. Moreover, the minor pull back could be related to the price correction as yens bulls are receiving support from profit taking actions after pairs tow-week climb for over the 700 pips.
NZD/USD
Current price: 0.6991 (-0.4%)
Session range: Open 106.84; High 107.49; Low 106.87
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.6950 R. 0.7087
Main drivers: Philadelphia Fed Manufacturing Index, US Existing Home Sales
Overview: The pair sinks for 7th session in a row losing up to 300 points mainly driven by speculations of RBNZ with further rate cut. The pair broke through its key support level of 0.70 in early Asia completely ignoring higher oil prices. Moreover, the pair received additional bearish pressure earlier this week after NZ has released lower-than-expected CPI data.
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Friday, July 22nd
GBP/USD
Current price: 1.3268 (0.3%)
Session range: Open 1.3233 High 1.3289 Low 1.3210
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.3102 R. 1.3342
Main drivers: Prelim. UK Manufacturing PMI, Prelim. UK Services PMI, Prelim. US Manufacturing PMI
Overview: The pound is trading with slightly better mood vs. dollar this morning keeping its spot above the level of 1.32 on the back of broadly based dollars’ weakness. However, poor UK’s Retail Sales are still limiting the pairs’ upside momentum.
EUR/USD
Current price: 1.1020 (0.0%)
Session range: Open 1.1026 High 1.1036 Low 1.1016
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.0942 R. 1.1101
Main drivers: Prelim. EU Manufacturing PMI, Prelim. EU Services PMI, Prelim. US Manufacturing PMI
Overview: Currently the pair is running in a flat mode amidst lack of direction. Yesterday as it was expected ECB left its Interest Rate in flat triggering pairs upsurge to level of 1.1060. However, the spike faded quickly as M.Draghi has failed to provide confidence in his press conference about implications of recent UK’s referendum.
USD/JPY
Current price: 105.92 (0.1%)
Session range: Open 105.81 High 106.28 Low 105.56
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 104.16 R. 108.34
Main drivers: Prelim. US Manufacturing PMI
Overview: The yen is consolidating its gains this morning keeping range below the level of 106. Yesterday the pair performed a sharp fall for 200 pips after BoJ Governor H.Koruda denied rumors of a possible further monetary easing by the central bank. However, the pair has failed to recover erasing a short spike witnessed this morning as a new wave of risk-off sentiment with take-profit actions are weighing the pair.
AUD/USD
Current price: 0.7474 (-0.3%)
Session range: Open 0.7494 High 0.7510 Low 0.7462
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 0.7426 R. 0.7551
Main drivers: Prelim. US Manufacturing PMI
Overview: Seems that Aussie is attempting to recover from sharp fall to region of 0.7460 triggered by RBA speculations around further rate cut in August. However, the pairs’ recovery seems to be fragile as better-than-expected US Existing Home Sales data released on Thursday is still supporting US dollar.
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Monday, July 25th
GBP/USD
Current price: 1.3146 (0.0%)
Session range: Open 1.3143 High 1.3150 Low 1.3110
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2947 R.1.3369
Main drivers: CBI Industrial Trends Orders in UK
Overview: The pair is recovering from two-cent dip after Friday’s pullback to 1.3080 low triggered by last week poor figure from UK’s Services PMI coupled with strengthened dollar across the board. However, dollar seems to be weaker today as investors are performing corrective actions allowing pound to take advantage at the beginning of this week.
EUR/USD
Current price: 1.0965 (-0.1%)
Session range: Open 1.0971 High 1.0980 Low 1.0951
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.0905 R. 1.1075
Main drivers: German Ifo Business Climate Index
Overview: The pair is trading modestly flat at the beginning of the week keeping its level at the lowest point since Brexit vote. The pair has fallen sharply on the back of upbeat preliminary US Manufacturing PMI released last Friday. Now EUR/USD awaits for upcoming German IFO release for further momentum.
[B]
USD/JPY
[/B]Current price: 106.25 (0.0%)
Session range: Open 106.20 High 106.74 Low 106.01
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 105.17 R. 106.83
Main drivers: None
Overview: Currently the pair is retreating from daily tops on the back of positive Japanese trade data released this morning. Moreover, fresh wave of risk aversion witnessed during Asia is pressuring the yen as safe-haven currency. Nothing important is scheduled in data calendar for the pair so today USD/JPY will gather further direction from global markets sentiment.
USD/CAD
Current price: 1.3153 (0.2%)
Session range: Open 1.3126 High 1.3156 Low 1.3123
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.2991 R 1.3253
Main drivers: None
Overview: Canadian dollar has managed to perform moderate recovery against its US neighbor from lows last seen in May. Last Friday, the pair surged to level of 1.3185 despite better-then-expected Canadian Retail sales data and CPI. Moreover, the pair received additional bearish pressure from softer oil price weighing CAD as commodity-linked currency. In addition, positive preliminary US Manufacturing PMI released at the end of the last week also pushed US currency to its highs.
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Wednesday, July 27th
USD/JPY
Current price: 105.66 (1.0%)
Session range: Open 104.65 High 106.56 Low 104.59
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 102.92 R. 106.72
Main drivers: US Pending Home Sales, US Core Durable Goods Orders, FOMC Statement, Fed Interest Rate Decision
Overview: USD/JPY is experiencing high volatility this morning after Prime Minister of Japan S.Abe has confirmed the size of the stimulus package at 28 trillion yen. However, the final decision of the size of the stimulus package will be taken next week. Most likely, today the pair will stay in condition of high volatility amid ongoing headlines from Japanese market.
GBP/USD
Current price: 1.3112 (-0.1%)
Session range: Open 1.3131 High 1.3163 Low 1.3104
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2999, R 1.3239
Main drivers: UK GBP, US Pending Home Sales, US Core Durable Goods Orders, FOMC Statement, Fed Interest Rate Decision
Overview: After a minor pullback witnessed this morning the pair has found support near the level of 1.3100. Currently the pair is running in quite mode ahead of the UK preliminary GDP report. Expected that UK’s economy didn’t grow up in this quarter on the back of Brexit vote.
EUR/USD
Current price: 1.0987 (0.0%)
Session range: Open 1.0986 High 1.1003 Low 1.0979
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.0946 R. 1.1050
Main drivers: US Pending Home Sales, US Core Durable Goods Orders, FOMC Statement, Fed Interest Rate Decision
Overview: Currently the pair is wobbling near the level of 1.0990 finding resistance at 1.1000. Today US dollar is trading on a firm note against shared currency finding support in significant grow in cross with yen amid of the Japanese stimulus talks. Furthermore, all attention now shifts to upcoming Fed Interest Rate Decision that most likely will stay unchanged, also, market participants will follow up FOMC Statement hoping on more hawkish comments that will provide support to US currency.
AUD/USD
Current price: 0.7469 (-0.5%)
Session range: Open 0.7502 High 0.7568 Low 0.7458
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 0.7421 R. 0.7579
Main drivers: US Pending Home Sales, US Core Durable Goods Orders, US Crude Oil Inventories, FOMC Statement, Fed Interest Rate Decision
Overview: Australian CPI has met expectations at 0.4% sending the pair to refresh 6-day highs this morning. However, the spike faded quickly as possibility of further rate cut by the RBA in August still persists. Now all focus shifts to FOMC monetary policy decision scheduled on NA session that will set up further direction for the pair.
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Thursday, July 28th
USD/JPY
Current price: 104.56 (-0.8%)
Session range: Open 105.39 High 105.45 Low 104.48
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 103.59 R. 107.43
Main drivers: US Initial Jobless Claims
Overview: The pair came over significant selling pressure yesterday after FOMC statement, where Fed members provided more dovish comments sending the pair to this day lows near 105 level. Moreover, fresh risk aversion wave additionally has pressured the yen this morning. In absence of significant catalysts, traders will closely watch for developments around latest Japanese stimulus talks.
EUR/USD
Current price: 1.1102 (0.4%)
Session range: Open 1.1058 High 1.1104 Low 1.1050
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.0922 R. 1.1132
Main drivers: Prelim. German CPI, US Initial Jobless Claims
Overview: The pair is consolidating its gains after rally triggered by dovish FOMC statement released yesterday in late NY. However, Fed members in their comments announced that near term risks to the economic outlook have diminished and the economic growth is expanding in moderate pace. This announcement has triggered speculation between market participants of rate hike in September.
GBP/USD
Current price: 1.3198 (-0.2%)
Session range: Open 1.3222 High 1.3250 Low 1.3165
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.3014 R. 1.3338
Main drivers: US Initial Jobless Claims
Overview: The pound is performing price corrective moves over the last hours after overnight rally triggered by FOMC statement. However, downside moves are limited today as cable continues getting support from yesterday’s upbeat preliminary UK GDP with streak of weak releases from US.
USD/CAD
Current price: 1.3199 (-0.5%)
Session range: Open 1.3188 High 1.3191 Low 1.3111
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.3101 R. 1.3293
Main drivers: US Initial Jobless Claims
Overview: Today American dollar is losing position against its Canadian neighbor on the back of post Fed broad based US dollar’s weakness. The pair failed attempt to recover part of its loses triggered by softer oil prices and now is retreating to lows last seen 5 days ago. Yesterday EIA has shown sharp grow in US crude oil inventories weighing the commodity linked CAD.
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Monday, August 8th
GBP/USD
Current price: 1.3055 (-0.1%)
Session range: Open 1.3080 High 1.3097 Low 1.3045
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.3047 R. 1.3096
Main drivers: None
Overview: Pound is regaining part of its positions from Friday’s low last seen four weeks ago after unexpectedly strong US NFP. However, the GBP/USD pair is still experiencing strong bearish pressure following the recent BoE’s policy easing measures of lowering its interest rate to 0.25%.
USD/CAD
Current price: 1.3161 (-0.1%)
Session range: Open 1.3177 High 1.3190 Low 1.3160
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.3156 R 1.3200
Main drivers: Canadian Building Permits
Overview: The pair is retreating from six-day highs near the level of 1.3200 as better tone in crude oil prices induces Canadian dollar to regain bullish tone against its American neighbor. However, CAD’s recovery seems to be fragile this morning as markets are still digesting combination of better figure from US NFP and downbeat results from Canadian labor market.
USD/JPY
Current price: 102.14 (0.3%)
Session range: Open 101.99 High 102.27 Low 101.85
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 101.64 R 102.48
Main drivers: None
Overview: The pair is keeping its range near the level of 102 as US NFP have showed better-than-expected results for the second time in a row. Moreover, an upbeat Chinese trade balance data released this morning triggered new wave of risk appetite preventing any recovery moves from yen’s side. Amid absence of important fundamental releases from both sides the pair will follow risk sentiment during this day.
EUR/USD
Current price: 1.1088 (0.0%)
Session range: Open 1.1085 High 1.1106 Low 1.1079
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.1073 R 1.1100
Main drivers: None
Overview: The pair has failed the attempt of recovery to the level of 1.1100 triggered by positive German Industrial Production and now is sliding to daily lows located near the level of 1.1080. EUR/USD is keeping bearish mood today as dust around Friday’s upbeat NFP report still has not settled down. Today the pair will follow global market sentiment with only a few second-tier economic releases scheduled for this Monday.
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Tuesday, August 9th
GBP/USD
Current price: 1.2981 (-0.5%)
Session range: Open 1.3040 High 1.3050 Low 1.2967
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2945 R. 1.3122
Main drivers: UK Manufacturing Production, Prelim. US Nonfarm Productivity
Overview: Currently is attempting to recover part of its losses after downside rally to fresh monthly lows performed this morning. The pair has dipped today to the level of 1.2973 triggered by suggestion of BoE’s member of further rate cut closer to zero.
EUR/USD
Current price: 1.1072 (-0.1%)
Session range: Open 1.1087 High 1.1092 Low 1.1070
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.1054 R. 1.1120
Main drivers: Prelim. US Nonfarm Productivity
Overview: The pair is failing all attempts to break through the level of 1.1100 facing resistance near that level during Asia. Euro recovery appears to lack momentum as US dollar is trading on a firm note today against its major peers on the back of positive data witnessed last week coupled with speculations of Fed rate hike this year.
NZD/USD
Current price: 0.7115 (0.3%)
Session range: Open 0.7138 High 0.7161 Low 0.7110
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 0.7065 R. 0.7179
Main drivers: Prelim. US Nonfarm Productivity
Overview: Today Kiwi is trimming gains as US dollar is still gaining benefits from last week’s impressive data release. However, the pair has managed to recover from Monday’s multiweek lows as traders remain cautious in front of Thursday’s RBNZ monetary policy decision. Expected that RBNZ will make a move and ease its monetary policy by lowering its rate by 0.25%.
USD/CHF
Current price: 0.9838 (0.1%)
Session range: Open 0.9824 High 0.9843 Low 0.9822
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 0.9765 R. 0.9871
Main drivers: Prelim. US Nonfarm Productivity
Overview: The pair remains bid toned for the fifth day in a row expanding its weekly highs toward the level of 0.9850, mostly driven by broad based dollar’s strength on the back of speculations of further Fed rate hike. However, franc has received some positive momentum this morning from neutral data of Swiss labor market, but downside movement range has been limited especially taking in account ignoring yesterday’s positive Swiss CPI.
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Wednesday, August 10th
USD/CAD
Current price: 1.3070 (-0.4%)
Session range: Open 1.3119 High 1.3126 Low 1.3051
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.3057 R. 1.3219
Main drivers: OPEC Monthly Report, JOLTs Job Openings, US Crude Oil Inventories
Overview: The pair is expanding its lows for the third day majorly driven by oil price recovery that supports commodity linked Canadian dollar. Today market participants will closely watch for OPEC Monthly Report expecting to find there any cues of further oil output freeze. However, the main event for the pair remains US Crude Oil Inventories.
EUR/USD
Current price: 1.1144 (0.2%)
Session range: Open 1.1116 High 1.1157 Low 1.1110
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.1051 R. 1.1155
Main drivers: JOLTs Job Openings
Overview: The dollar has lost its Friday’s Payrolls boost and now is experiencing major sell-off across the market as latest US Nonfarm Productivity has shown negative figure for a third straight quarter allowing the pair to break through the level of 1.1100. Today Euroland’s data-free calendar will leave the pair’s direction at global markets sentiment mercy.
AUD/USD
Current price: 0.7699 (0.3%)
Session range: Open 0.7672 High 0.7708 Low 0.7661
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7595 R. 0.7725
Main drivers: JOLTs Job Openings
Overview: Seems that US currency is losing a grip against its major peers after yesterday’s US Nonfarm Productivity report that has shown unexpected decline for the third time in a row. Currently the pair is posting moderate gains ignoring latest RBA Governor G. Stevens comments provided this morning that inflation might keep its low rate that eventually will lead to further monetary policy easing.
USD/JPY
Current price: 101.49 (0.4%)
Session range: Open 101.88 High 101.99 Low 101.12
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 101.32 R. 102.80
Main drivers: JOLTs Job Openings
Overview: The major is performing a minor recovery from this day lows marked at 101.12 as renewed optimism in Asian equity market is cooling off the risk-off sentiments thereby ceasing the safe-haven bids for the yen. However, the pair is still trading in a red zone as broad based US dollar’s weakness with positive data from Japan continue to drive the pair. Nothing important is scheduled for the pair until Friday, so the major will follow markets global risk sentiment.
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Friday, August 12th
GBP/USD
Current price: 1,2954 (0.0%)
Session range: Open 1.2956 High 1.2979 Low 1.2944
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.2880 R. 1.3064
Main drivers: US PPI, US Retail Sales
Overview: Pound has recovered smile against its American counterpart this morning lifting the pair to daily maximums near the level of 1.2980 as renewed broad based risk appetite is hitting up demand for risky assets such as GBP. However, the possibility of further BoE’s monetary policy easing continues weighing the pair.
EUR/USD
Current price: 1,1151 (0,1%)
Session range: Open 1.1137 High 1.1157 Low 1.1130
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.1098 R. 1.1210
Main drivers: Prelim. EU GDP, US PPI, US Retail Sales
Overview: The pair has broken out of its narrow range of 15 pips and now is moving higher reacting on positive German data released this morning. The pair had entered its consolidation phase after heavy losses witnessed this Thursday staying directionless during Asia. Moreover, broad based US dollar’s weakness is letting bulls to take control over the pair today.
AUD/USD
Current price: 0.7692 (-0.1%)
Session range: Open 0.7699 High 0.7705 Low 0.7670
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 0.7657 R. 0.7765
Main drivers: US PPI, US Retail Sales
Overview: Currently aussie is trimming gains as weaker-than-expected Chinese economic data released this morning is forcing the pair to retreat from its multi-month highs marked near the level of 0.7750 after 250 pips rally witnessed since the last week. Moreover, profit-taking actions performed by investors lately additionally are weighing the pair.
USD/CAD
Current price: 1.2966 (-0.2%)
Session range: Open 1.2994 High 1.2995 Low 1.2964
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.2888 R. 1.3132
Main drivers: US PPI, US Retail Sales
Overview: Loonie is recovering bid tone against its American neighbor refreshing daily lows near the level of 1.3000. The pair remains majorly influenced by higher oil prices fueled by recent comments of Minister of Energy of Saudi Arabia that question about crude oil output freeze is not closed yet and will be discussed on the next OPEC meeting scheduled on September. Moreover, dollar is performing price corrective moves after yesterday’s growth additionally supporting CAD bulls.
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Monday, August 15th
EUR/USD
Current price: 1.1167 (0.0%)
Session range: Open 1.1169 High 1.1177 Low 1.1153
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.1081 R. 1.1261
Main drivers: NY Empire State Manufacturing Index
Overview: After relatively volatile session witnessed last Friday investors have decided to take a breather leaving the pair in deadly flat 10 pips narrow range at the beginning of this week. Looking ahead nothing important is scheduled in data calendar for the pair leaving it to the mercy of global market’s sentiment.
AUD/USD
Current price: 0.7673 (0.3%)
Session range: Open 0.7656 High 0.7681 Low 0.7636
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 0.7595 R. 0.7751
Main drivers: NY Empire State Manufacturing Index
Overview: The pair is losing a grip this morning despite post Friday’s broad based dollar’s weakness. Massive sell-off of US dollar has triggered profit taking actions across the market forcing the pair to fade its spike witnessed on Friday after disappointing data flow from US with further decrease especially after refreshing multy-month highs posted earlier last week.
USD/CAD
Current price: 1.2933 (-0.2%)
Session range: Open 1.2959 High 1.2977 Low 1.2927
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.2888 R. 1.3024
Main drivers: NY Empire State Manufacturing Index
Overview: The major is recovering smile at the start of this week after five days of consecutive decline. Currently the pair is trading near its daily highs as new wave of investors’ interest to US dollar is pushing it higher against its Canadian neighbor. However, the pair remains highly pressured today as crude oil recovery on the back of talks about potential production freezes are supporting commodity linked CAD.
USD/JPY
Current price: 101.08 (-0.2%)
Session range: Open 101.13 High 101.48 Low 101.01
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 100.01 R. 102.89
Main drivers: NY Empire State Manufacturing Index
Overview: The pair remains flat this Monday due to low volatility in global financial markets. Currently the dollar/yen pair is retreating from daily highs posted near 101.50 region despite poor quarter Japanese GDP. Furthermore, the pair will remain pressured during this day as latest hawkish comments from Japanese finance minister T.Aso and economy minister N.Ishihara in economic outlook are still supporting yen.
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Wednesday, August 17th
EUR/USD
Current price: 1.1264 (0.1%)
Session range: Open 1.1279 High 1.1291 Low 1.1255
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.1114 R. 1.1404
Main drivers: FOMC Meeting Minutes
Overview: Today euro is consolidating part of its massive gains after extreme rally witnessed day before. Currently the pair is hovering in the region of 1.1260 retreating from two-month highs posted at 1.1323 as traders are performing profit-taking actions lately breathing in fresh positive tone to US currency.
GBP/USD
Current price: 1,3040 (0,0%)
Session range: Open 1.3046 High 1.3072 Low 1.3007
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.2812 R. 1.3166
Main drivers: UK Average Earnings Index +Bonus, UK Claimant Count Change, FOMC Meeting Minutes
Overview: The pair is erasing small part of its gains as sentiments around US dollar are regaining smile across the board. Yesterday the pair performed a massive rally on the back of poor inflation reports seen from US side additionally boosted by positive data from UK refreshing its five-day highs above the level of 1.3000.
NZD/USD
Current price: 0.7252 (-0.4%)
Session range: Open 0.7280 High 0.7323 Low 0.7245
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 0.7154 R. 0.7366
Main drivers: US Crude Oil Inventories, FOMC Meeting Minutes
Overview: Today Kiwi has continued its rally expanding its weekly highs beyond the level of 0.7300 with the highest point witnessed at 0.7322 as upbeat NZ jobs report has reactivated NZD bulls. However, the pair has faded the spike quickly and now is trading near the region of 0.7250 as lower oil prices coupled with ongoing speculations of RBNZ about further rate cut are still suppressing the pair.
USD/CHF
Current price: 0.9627 (0.1%)
Session range: Open 0.9619 High 0.9642 Low 0.9607
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.9500 R. 0.9792
Main drivers: FOMC Meeting Minutes
Overview: Currently Swiss franc is losing a grip sending the pair from nearly two-month lows under the level of 0.9600 to today highs posted in the region of 0.9640 after massive rally witnessed yesterday. Following Tuesday’s sharp drop dollar is attempting to recover against its major peers fueled by yesterday’s hawkish comments of FOMC member B.Dudley which provided fresh cues of further Fed rate-hike.
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Tuesday, August 23rd
EUR/USD
Current price: 1.1339 (0.2%)
Session range: Open 1.1320 High 1.1356 Low 1.1312
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.1247 R. 1.1367
Main drivers: US New Home Sales
Overview: Today the pair continues its bullish momentum witnessed since the beginning of this week bouncing off yesterday’s low marked at 1.1271 spot as ahead of upcoming Fed Chair J.Yellen’s speech that brings cautious sentiment across the market. Moreover, today the pair has received additional upside momentum from positive preliminary German Manufacturing PMI sending euro to the mid-level of 1.13.
GBP/USD
Current price: 1.3190 (0.4%)
Session range: Open 1.3136 High 1.3211 Low 1.3128
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.2985 R. 1.3231
Main drivers: UK CBI Industrial Trends Orders, US New Home Sales
Overview: Yesterday the market ignored fresh headlines from UK about upcoming invoke of Article 50 already in April that will end up Britain’s membership in EU. Moreover, the pair is expanding its upside momentum getting closer to its last week highs as market remains very cautious regarding US dollar ahead of Chair of the Fed’s Board J.Yellen’s speech scheduled later this week which expectedly will provide fresh cues of further Fed rate-hike.
USD/CAD
Current price: 1.2912 (-0.3%)
Session range: Open 1.2946 High 1.2951 Low 1.2884
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.2833 R. 1.3021
Main drivers: US New Home Sales
Overview: Currently the USD/CAD is retreating from its five-day tops witnessed near the level of 1.2965 as the US dollar is extending its corrective move against its Canadian neighbor. However, softer oil prices are limiting pair’s downside move today sending lower commodity linked Canadian dollar.
NZD/USD
Current price: 0.7326 (0.8%)
Session range: Open 0.7268 High 0.7341 Low 0.7266
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7173 R. 0.7341
Main drivers: US New Home Sales
Overview: Kiwi is still keeping its bullish trend on the back of the broad based US dollar’s weakness currently trading near the level of its two-week high at this Tuesday. Moreover, the pair was additionally boosted after RBNZ Governor G.Wheeler’s hawkish comments that rejected market’s expectations of further economy easing by the central bank of New Zealand.
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Thursday, August 25th
EUR/USD
Current price: 1.1269 (0.0%)
Session range: Open 1.1264 High 1.1280 Low 1.1258
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.1207 R. 1.1339
Main drivers: US Core Durable Goods Orders, US Initial Jobless Claims
Overview: Currently the pair is retreating from its daily highs marked at the level of 1.1280 after poor data of German Ifo Business Climate Index released in early Europe. However, the euro is still keeping its positive mood against its American counterpart facing support near the level of 1.1270. Furthermore, today traders will stay cautious limiting pair’s rally in front of main event of this week Federal Reserve Chairwoman Janet Yellen’s speech at the summer economic Symposium, held in Jackson Hole.
GBP/USD
Current price: 1.3215 (-0.1%)
Session range: Open 1.3232 High 1.3265 Low 1.3201
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.3109 R. 1.3333
Main drivers: US Core Durable Goods Orders, US Initial Jobless Claims
Overview: The pound has performed minor retreat from session high marked at 1.3264 spot and now is consolidating near the level of 1.3223. The pair was trading in a quite mode so far as traders remain cautious ahead of the most risky event of this week Fed Chair J.Yellen’s speech that is scheduled for tomorrow. Moreover, the pair is experiencing low volatility conditions lately as dust around Brexit is slowly settling down calming traders sentiments around pound.
USD/CAD
Current price: 1.2912 (-0.1%)
Session range: Open 1.2927 High 1.2938 Low 1.2911
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.2872 R. 1.2984
Main drivers: US Core Durable Goods Orders, US Initial Jobless Claims
Overview: The USD/CAD pair is following global markets uncertain sentiment staying quite this morning. Currently loonie is performing minor upsurge move following oil price recovery after yesterday’s EIA report that showed unexpected growth in crude oil stockpiles. Today the pair will stay directionless as traders refrain from important moves ahead of upcoming Jackson Hole Symposium.
USD/CHF
Current price: 0.9657 (-0.1%)
Session range: Open 0.9669 High 0.9679 Low 0.9651
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.9598 R. 0.9718
Main drivers: US Core Durable Goods Orders, US Initial Jobless Claims
Overview: Today the pair has been trading in a flat-line during the Asian session after 4-day consecutive growth. The US dollar is still suppressed by yesterday’s downbeat data from US housing market allowing the pair to consolidate in 0.9660-75 narrow range. Moreover, today the pair won’t perform any massive rally as traders are staying alert ahead of Jackson Hole Symposium with Fed Chair Yellen speech scheduled during it.
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