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Friday, August 26th
EUR/USD
Current price: 1.1287 (0.0%)
Session range: Open 1.1285 High 1.1310 Low 1.1278
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.1242 R. 1.1318
Main drivers: US prelim. GDP, Fed Chair J.Yellen Speech
Overview: Today the pair is showing very low volatility as markets are frozen in front of main risky event of this week - J.Yellen’s speech. Currently market participants are refraining from opening new positions as J.Yellen’s speech at the economic Symposium, held in Jackson Hole expectedly will provide massive rally today in NY session. Markets are expecting that Fed Chairwoman will shed the light on broadly exciting question of this year - Fed rate-hike. Amid data light calendar from Euroland and lack of momentum the euro/dollar pair will get some correlative sentiment from crosses with pound as Britain will announce preliminary GDP report today.
GBP/USD
Current price: 1.3222 (0.2%)
Session range: Open 1.3191 High 1.3234 Low 1.3185
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.3112 R. 1.3300
Main drivers: UK prelim. GDP, US prelim. GDP, Fed Chair J.Yellen Speech
Overview: The pair has managed to regain positive mood as now all eyes are focused on Fed Chair J.Yellen’s comments due later today that insignificantly suppressing the dollar. Today UK also will provide important data that will be closely watched. However, expected that Britain’s GDP will provide limited reaction across the market as traders are staying cautious ahead of Jackson Hole Symposium that most likely will entail the main market movements of this day.
USD/JPY
Current price: 100.44 (-0.1%)
Session range: Open 100.52 High 100.60 Low 100.38
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 100.17 R. 100.79
Main drivers: US prelim. GDP, Fed Chair J.Yellen Speech
Overview: The upcoming J.Yellen’s speech is boosting risk aversion sentiments thereby bringing demand to safe-haven currency such as yen, sending the pair is the red zone. Today amid absence of fundamentals from Japanese side and increased nervousness across the market the pair will stay in the mercy of risk sentiments until main event of the week.
NZD/USD
Current price: 0.7322 (0.3%)
Session range: Open 0.7301 High 0.7327 Low 0.7297
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 0.7258 R. 0.7356
Main drivers: US prelim. GDP, Fed Chair J.Yellen Speech
Overview: Today the kiwi is trading on a firm note against its American counterpart breaking through the level of 0.7300. The pair has regained its upside momentum on the back of better oil price seen during Asian session and weaker US dollar as uncertainty around upcoming J.Yellen’s is suppressing US currency.
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Friday, August 26th
EUR/USD
Current price: 1.1287 (0.0%)
Session range: Open 1.1285 High 1.1310 Low 1.1278
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.1242 R. 1.1318
Main drivers: US prelim. GDP, Fed Chair J.Yellen Speech
Overview: Today the pair is showing very low volatility as markets are frozen in front of main risky event of this week - J.Yellen’s speech. Currently market participants are refraining from opening new positions as J.Yellen’s speech at the economic Symposium, held in Jackson Hole expectedly will provide massive rally today in NY session. Markets are expecting that Fed Chairwoman will shed the light on broadly exciting question of this year - Fed rate-hike. Amid data light calendar from Euroland and lack of momentum the euro/dollar pair will get some correlative sentiment from crosses with pound as Britain will announce preliminary GDP report today.
GBP/USD
Current price: 1.3222 (0.2%)
Session range: Open 1.3191 High 1.3234 Low 1.3185
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.3112 R. 1.3300
Main drivers: UK prelim. GDP, US prelim. GDP, Fed Chair J.Yellen Speech
Overview: The pair has managed to regain positive mood as now all eyes are focused on Fed Chair J.Yellen’s comments due later today that insignificantly suppressing the dollar. Today UK also will provide important data that will be closely watched. However, expected that Britain’s GDP will provide limited reaction across the market as traders are staying cautious ahead of Jackson Hole Symposium that most likely will entail the main market movements of this day.
USD/JPY
Current price: 100.44 (-0.1%)
Session range: Open 100.52 High 100.60 Low 100.38
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 100.17 R. 100.79
Main drivers: US prelim. GDP, Fed Chair J.Yellen Speech
Overview: The upcoming J.Yellen’s speech is boosting risk aversion sentiments thereby bringing demand to safe-haven currency such as yen, sending the pair is the red zone. Today amid absence of fundamentals from Japanese side and increased nervousness across the market the pair will stay in the mercy of risk sentiments until main event of the week.
NZD/USD
Current price: 0.7322 (0.3%)
Session range: Open 0.7301 High 0.7327 Low 0.7297
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 0.7258 R. 0.7356
Main drivers: US prelim. GDP, Fed Chair J.Yellen Speech
Overview: Today the kiwi is trading on a firm note against its American counterpart breaking through the level of 0.7300. The pair has regained its upside momentum on the back of better oil price seen during Asian session and weaker US dollar as uncertainty around upcoming J.Yellen’s is suppressing US currency.
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[B]
Monday, August 29th [/B]
EUR/USD
Current price: 1.1185 (-0.1%)
Session range: Open 1.1178 High 1.1209 Low 1.1172
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.1077 R. 1.1397
Main drivers: US Core PCE Price Index, US Personal Spending
Overview: The Euro is trying to fight back part of its positions against its American counterpart this morning testing the level of 1.1200 after major slide down to 1.1179 spot. However, the markets are still digesting Friday’s hawkish J.Yellen’s speech thereby fueling dollar bulls and leaving the pair under pressure. Moreover, today UK markets are closed due to Bank Holiday taking away part of volatility across the market.
GBP/USD
Current price: 1.3092 (-0.3%)
Session range: Open 1.3111 High 1.3140 Low 1.3086
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.3019 R. 1.3333
Main drivers: US Core PCE Price Index, US Personal Spending
Overview: Currently the dollar is consolidating its gains against pound after Friday’s massive downside rally. Eventually, the pair is running in a quite mode wobbling between 1.3110 and 1.3140 levels. Today the GBP/USD cross will continue to trade under dollar’s pressure as UK markets are closed due to Summer Bank Holiday leaving the pair at risk sentiment mercy.
USD/JPY
Current price: 102.22 (0.4%)
Session range: Open 102.07 High 102.40 Low 101.81
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 99.37 R. 103.15
Main drivers: US Core PCE Price Index, US Personal Spending, Japanese Household Spending
Overview: The pair has met strong support near its psychological level of 100.00 and now is moving in a north direction expanding its 11-day highs above the level of 102.00. Reacting on a hawkish speech of Fed Chair J.Yellen that has fueled expectations of this year rate-hike dollar bulls have accelerated upside momentum of the pair strengthening dollar’s positions across the board.
USD/CAD
Current price: 1.3005 (0.0%)
Session range: Open 1.2993 High 1.3026 Low 1.2987
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.2767 R. 1.3127
Main drivers: US Core PCE Price Index, US Personal Spending
Overview: Today loonie is trading in a red zone against its American neighbor staying near its psychological level of 1.3000. The pair managed to break through the level of 1.3000 after hawkish speech of J.Yellen during Jackson Hole Symposium seen last Friday. Furthermore, Canadian dollar has received additional bearish pressure from lower oil prices witnessed this morning.
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[B]
Tuesday, August 30th[/B]
EUR/USD
Current price: 1.1168 (-0.2%)
Session range: Open 1.1189 High 1.1193 Low 1.1155
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.1136 R. 1.1234
Main drivers: US CB Consumer Confidence
Overview: Currently the common currency is still losing positions against its American counterpart, sliding down for nearly 200 pips since Friday Fed Chairwoman J.Yellen’s hawkish speech at Jackson Hole Symposium. Furthermore, fresh wave of speculations around this year Fed rate-hike is supporting further growth of the American currency across the board.
USD/CAD
Current price: 1.3042 (0.3%)
Session range: Open 1.3011 High 1.3049 Low 1.3009
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2952 R. 1.3076
Main drivers: Canadian RMPI, US CB Consumer Confidence
Overview: Today the Canadian dollar has failed to get upside momentum from better oil prices as possibility of this year Fed rate-hike is still supporting American currency. Seems that USD buying interest is gaining pace led by increased talks around this year Fed rate-hike after Friday’s hawkish speech of Fed Chair J.Yellen. Now all focus shifts to key event of this week – NFP scheduled for this Friday.
USD/JPY
Current price: 102.29 (0.4%)
Session range: Open 101.91 High 102.46 Low 101.75
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 101.47 R. 102.61
Main drivers: US CB Consumer Confidence
Overview: Today the pair has reclaimed its yesterday’s highs above the level of 102 despite positive dataflow from Japanese market. The dollar/yen pair has managed to perform minor price corrective actions during Asian session, but fresh wave of risk appetite coupled with broadly based dollar’s strength have forced the pair to refresh its daily highs.
AUD/USD
Current price: 0.7550 (-0.3%)
Session range: Open 0.7569 High 0.7582 Low 0.7542
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7501 R. 0.7615
Main drivers: US CB Consumer Confidence, Australian ANZ Business Confidence
Overview: Today Aussie is losing its upside momentum and retreating to its daily lows near 0.7500 spot ignoring positive report of Australian Building Approvals released this morning. In fact, renewed selling pressure is explained by the fact that markets are still digesting fresh cues of this year rate-hike provided by J.Yellen in her speech at Jackson Hole Symposium. Moreover, lower gold price witnessed this morning is additionally suppressing Australian dollar’s commodity-linked currency status.
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[B]
Thursday, September 1st[/B]
GBP/USD
Current price: 1.3141 (0.0%)
Session range: Open 1.3137 High 1.3156 Low 1.3128
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.3024 R. 1.3268
Main drivers: UK Manufacturing PMI, US ISM Manufacturing PMI
Overview: Despite that the pound is still growing against its American peer, pair’s bullish impetus is running of steam forcing the pair to consolidate near mid-1.3100 level. Moreover, upcoming UK Manufacturing PMI is also taking away part of volatility as traders are staying vigilant expecting to see growth in activity level of purchasing managers in the manufacturing sector despite Brexit-vote outcome.
EUR/USD
Current price: 1.1133 (-0.2%)
Session range: Open 1.1157 High 1.1167 Low 1.1127
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1105 R. 1.1191
Main drivers: US ISM Manufacturing PMI
Overview: The pair is retreating from its daily highs witnessed at 1.1166 spot keeping its calm mood. However, the euro is not giving up today, recovering moderate part of its overnight losses especially looking at dollar’s bid tone on the back of positive data from labor and housing markets showed yesterday. Currently the market is not showing any significant moves as traders are staying alert ahead of German and Eurozone Manufacturing PMI coming up in early Europe.
USD/JPY
Current price: 103.55 (0.1%)
Session range: Open 103.42 High 103.66 Low 103.05
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 102.58 R. 103.94
Main drivers: US ISM Manufacturing PMI
Overview: The pair is extending its growth for a sixth session in a row once again refreshing its monthly highs near the level of 103.60. The yen remains under selling pressure as ongoing talks about further monetary easing by the BoJ continue to weigh the currency of Japan. Moreover, the pair is strongly supported today by expectations of crucial Non-Farm Payrolls scheduled for this Friday, which will help market participants to determine next Fed monetary policy move. Today in view of Japanese data light calendar the pair most likely will stay under shrinking risk appetite as traders will stay cautions in anticipation of key risk event of this week limiting pairs upside momentum.
AUD/USD
Current price: 0.7533 (0.2%)
Session range: Open 0.7517 High 0.7550 Low 0.7512
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 0.7470 R. 0.7556
Main drivers: US ISM Manufacturing PMI
Overview: The aussie is extending its recovery from yesterday lows last seen since August 2. The Australian dollar, often used as a proxy of China-related trades, received its upside impetus after China has provided market with positive Manufacturing PMI this morning, while Australian dataflow has indicated not so confident results restricting pair’s gains.
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[B]
Monday, September 5th[/B]
GBP/USD
Current price: 1.3300 (0.0%)
Session range: Open 1.3300 High 1.3329 Low 1.3290
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.3198 R. 1.3398
Main drivers: UK Services PMI
Overview: Currently the pound is trading on a firm note against American currency on the back of broadly based dollars’ sell-off seen after poor data from US labor market released last Friday. However, talks around further Fed rate-hike have limited pairs rally, sending it back to the region of 1.3300 spot. Today traders will closely watch for UK Services PMI, taking into account that both previous manufacturing and construction PMIs’ have showed positive data.
EUR/USD
Current price: 1.1177 (0.2%)
Session range: Open 1.1156 High 1.1183 Low 1.1152
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.1083 R. 1.1287
Main drivers: EU Services PMI, EU Retail Sales
Overview: The pair is running in a calm mode at the start of this week slowly reclaiming its positions. Last Friday after poor NFP data the pair has refreshed its 5-day highs at 1.1252 spot but spike was faded quickly as The Goldman Sachs Group moved up the probability of September’s Fed rate-hike to 55% forcing the pair to lose all gained positions. Today the pair will witness thin trading range as Canadian and US markets are closed due to celebrating Labor Day.
USD/JPY
Current price: 103.39 (-0.6%)
Session range: Open 104.09 High 104.13 Low 103.28
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 102.16 R. 105.20
Main drivers: None
Overview: The pair came under fresh selling pressure at the start of this week and now is trading near the level of 103.50 as dollar is still weak after poor NFP figure provided last Friday. However, today yen will continue to experience bearish pressure as new wave of risk-on sentiments and dovish comments from BoJ Governor H.Kuroda are suppressing Japanese currency. Today the volatility level will likely remain at low level as US market is closed in observance of Labor Day.
USD/CHF
Current price: 0.9784 (-0.2%)
Session range: Open 0.9803 High 0.9809 Low 0.9772
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.9705 R. 0.9865
Main drivers: None
Overview: Today US currency continues to lose positions against Swiss franc as dollar is performing its price corrections after disappointing US jobs report, seen last Friday. However, gains after NFP rally were quickly erased after Fed’s member J.Lacker hawkish comments. Today in light of lack of momentum the pair will remain influenced majorly by global markets’ sentiment.
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[B]
Tuesday, September 6th
[/B]
AUD/USD
Current price: 0.7638 (0.7%)
Session range: Open 0.7584 High 0.7656 Low 0.7580
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 0.7540 R. 0.7648
Main drivers: US ISM Non-Manufacturing PMI, Australian GDP
Overview: Today RBA has left its cash rate flat at record low level 1.5% leaving bulls unimpressed by uneventful decision. However, the pair has performed moderate growth over the Asia as RBA in its monetary policy announcement provided traders with neutral hints of Australian economic growth. Moreover, positive data from Australian released earlier also has breathed in some bullish sentiment to the pair. Now all focus shifts to data from US that will be released in NY session and Australian GDP that will also set up further pair’s direction. But for now markets will continue to digest RBA monetary policy decision leading the pair in north direction.
EUR/USD
Current price: 1.1156 (0.1%)
Session range: Open 1.1148 High 1.1159 Low 1.1140
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.1112 R. 1.1200
Main drivers: US ISM Non-Manufacturing PMI
Overview: Today the main currency pair keeps its narrow trading range of 15 pips near the mid-1.11 level. The pair has ignored lower-than-expected German data as now all traders attention shifts to ECB Interest Rate Decision scheduled for this Thursday that is limiting pairs’ volatility, as it remains key event of this week. However, euro bears stay strong lately on the back of political instability across the Eurozone as A.Merkel is suffering a defeat in regional elections with upcoming critical referendum in Italy that is impugning its EU membership.
USD/CAD
Current price: 1.2900 (-0.2%)
Session range: Open 1.2930 High 1.2935 Low 1.2887
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2853 R. 1.3031
Main drivers: US ISM Non-Manufacturing PMI
Overview: Today Canadian dollar is trading on a firm note against its American neighbor majorly underpinned by continuing rally of the crude oil price. Moreover, dollar’s sell-off across the market seen since the beginning of this week continues suppressing the pair sending it refresh 8-day low breaking the key resistance level of 1.2900. Next in focus remains BoC meeting which is expected tomorrow.
USD/JPY
Current price: 103.33 (-0.1%)
Session range: Open 103.44 High 103.82 Low 103.26
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 102.58 R. 104.54
Main drivers: US ISM Non-Manufacturing PMI
Overview: Seems that the JPY bulls continue to regain lost ground in early Europe as sell-off seen behind the US dollar is pressuring on the pair. Yesterday the pair managed to erase all its post-NFP gained positions moving toward resistance level of 103.00. However, yens growth seems to be fragile as markets are still digesting dovish speech of BoJ Governor H.Kurodas of policy easing measures that is still weakening the Japanese currency. Today due to absence of fundamentals from Japanese side, the pair will keep tracing markets risky sentiments until NY session that will bring some US releases setting up pair’s short-term direction.
Your European ECN-broker,
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[B]
Thursday, September 8th[/B]
EUR/USD
Current price: 1.1267 (0.3%)
Session range: Open 1.1238 High 1.1271 Low 1.1234
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.1203 R. 1.1289
Main drivers: EU Deposit Facility Rate, EU Interest Rate Decision, Speech of ECB President M.Draghi
Overview: The dollar extends its weakness witnessed since the beginning of this week this time suffering from US PMI from ISM released last Tuesday. The pair continues to consolidate its gains currently hovering near the level of 1.1250 as traders are refraining from making important decisions on the back of upcoming ECB Interest Rate Decision followed by M.Draghi’s Speech. Most probably, ECB will leave its rate unchanged but M.Draghi’s comments definitely will be closely watched in view of EU economy growth and inflation outlook.
GBP/USD
Current price: 1.3358 (0.1%)
Session range: Open 1.3340 High 1.3366 Low 1.3328
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.3246 R. 1.3484
Main drivers: US Initial Jobless Claims
Overview: The pound is trying to keep its positive mood regarding the US dollar after yesterday’s retreat on the back of poor UK Manufacturing Production. The pound has lost more than a cent since this week highs above the level of 1.3400. Nothing important is scheduled for the pair from both sides so traders will focus their attention on the ECB meeting to track some impetus from pound’s cross with the single currency.
USD/CAD
Current price: 1.2858 (-0.2%)
Session range: Open 1.2884 High 1.2896 Low 1.2850
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.2781 R. 1.2965
Main drivers: US Initial Jobless Claims, Canadian Building Permits, US Crude Oil Inventories
Overview: Currently the pair is performing minor price corrections after decision of BOC to keep its interest rate unchanged at 0.50%. Majorly the pair is following higher oil prices that are supporting resource-linked Canadian currency. Moreover, broadly based dollar’s weakness against its major peers additionally weighing the pair.
USD/JPY
Current price: 101.54 (-0.2%)
Session range: Open 101.74 High 101.93 Low 101.41
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 100.74 R. 102.62
Main drivers: US Initial Jobless Claims
Overview: The dollar/yen pair is progressing its downside direction moving away from this week highs posted above the level 104.00 as dollar is still weak against its major peers. However, the pair has faced support today bouncing off the level of 101.41 performing minor corrective moves on the back of weak Chinese Trade Balance despite better-than-expected Japanese GDP and prevailing risk aversion sentiments across the market. However, amidst lack of fundamentals from both economies the pair most likely will trace risk sentiments to gain some further momentum.
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[B]
Friday, September 9th[/B]
EUR/USD
Current price: 1.1271 (0.1%)
Session range: Open 1.1257 High 1.1286 Low 1.1257
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1181 R. 1.1367
Main drivers: Speech of FOMC Member E.Rosengren, Speech of FOMC Member R.Kaplan, Eurogroup Meetings.
Overview: Currently the pair is keeping its steady recovery mode refreshing daily highs near the region of 1.1280, as the dollar remains defensive this morning. Yesterday the pair rose on expectations of ECB Interest Rate Decision climbing above 1.1300 handle. However, the pair lost its ground facing strong resistance near the level of 1.1330 after ECB disappointing announcement of lowering its projections for further inflation growth.
NZD/USD
Current price: 0.7384 (-0.2%)
Session range: Open 0.7399 High 0.7414 Low 0.7380
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7322 R. 0.7520
Main drivers: Speech of FOMC Member E.Rosengren, Speech of FOMC Member R.Kaplan.
Overview: And once again, the pair tested its multi month highs yesterday breaking it psychological barrier at 0.7400. In the second half of the week the pair has reached 0.7485 spot that is the highest level last seen since May 2015. Today the kiwi is still trading on a firm note against its American counterpart entering consolidative phase as hopes for Fed rate-hike in September is gradually fading thereby boosting US dollar’s bears.
USD/JPY
Current price: 102.12 (-0.4%)
Session range: Open 102.49 High 102.51 Low 101.96
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 100.97 R. 103.35
Main drivers: Speech of FOMC Member E.Rosengren, Speech of FOMC Member R.Kaplan.
Overview: The pair has managed to perform sharp upsurge from yesterday lows in Asia and to regain its positions at 102.00 level. However, today the pair is still trading in a red zone as fresh wave of risk aversion sentiments hit the market on the back of headlines that North Korea conducted nuclear tests. Also, the pair got additional pressure from dollar’s weakness across the board. Today both sides have data light economic calendars so traders will follow developments from North Korea that might have some impact on Japanese currency.
USD/CAD
Current price: 1.2938 (0.0%)
Session range: Open 1.2936 High 1.2959 Low 1.2910
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.2821 R. 1.2993
Main drivers: Speech of FOMC Member E.Rosengren, Canadian Employment Change, Speech of FOMC Member R.Kaplan.
Overview: Today Canadian dollar is trading on a firm note against its American neighbor refreshing its daily lows at 1.2911 spot. Pair’s downside momentum is majorly based on dollar’s price corrective moves and higher oil prices boosted by yesterday’s positive data of its inventories. Today loonie will take center stage as key data from Canadian labor market are coming ahead in NY session.
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Monday, September 12th
GBP/USD
Current price: 1.3275 (0.1%)
Session range: Open 1.3269 High 1.3287 Low 1.3254
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.3183 R. 1.3375
Main drivers: FOMC Member L.Brainard Speech
Overview: The pair GBP/USD now is re-attempting to take back the level of 1.3300 after solid rally seen last Friday after hawkish comments of Fed E.Rosengren. However, following dovish speech of Fed N.Kashkari has limited pair’s downside jerk and now is supporting the pair as markets are still digesting his announcement that monetary policy is doing what it can to support US economic growth. Today traders will await for speech of Fed Governor L.Brainard for another dose of speculative impetus.
EUR/USD
Current price: 1.1246 (0.1%)
Session range: Open 1.1236 High 1.1265 Low 1.1229
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.1152 R. 1.1324
Main drivers: FOMC Member L.Brainard Speech
Overview: The pair is trading relatively quiet at the start of this week unable to break through the resistance level of 1.1250. The ongoing speculations of Fed members about Fed rate-hike are confusing markets lately bringing fresh impetuses to the pair. However, currently the pair is moving in a north direction majorly driven by dollar’s minor price corrections after another hawkish comment of Fed E.Rosengren who considers that it is appropriate to gradually tighten monetary policy this year.
USD/JPY
Current price: 102,12 (0,5%)
Session range: Open 102.58 High 102.68 Low 102.10
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 101.46 R. 103.66
Main drivers: FOMC Member L.Brainard Speech
Overview: After sharp rally seen last Friday the yen has managed to recover part of its losses against its US counterpart on the back of more dovish comments of Fed N.Kashkari. Moreover, the continuing speculations of this year Fed rate-hike have triggered strong risk-off sentiments across the market that are majorly driving the pair at the start of this week.
AUD/USD
Current price: 0,7512 (-0,3%)
Session range: Open 0.7539 High 0.7551 Low 0.7501
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7451 R. 0.7697
Main drivers: FOMC Member L.Brainard Speech
Overview: Currently the pair is extending its downside move for fourth consecutive session and is testing 7-day lows near the level of 0.7525 fueled by hawkish comments of one of the FOMC members E.Rosengren. The pair has reversed its direction last week after reaching its 3-week highs at 0.7732 spot. Today in absence of any economic releases the center stage will take speech of the Fed Governor L.Brainard that most likely will provide fresh signals of Interest Rate Decision by Fed at its meeting on September 20.
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Tuesday, September 13th
GBP/USD
Current price: 1.3317 (-0.1%)
Session range: Open 1.3336 High 1.3342 Low 1.3312
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.3193 R. 1.3417
Main drivers: UK CPI
Overview: Currently the pound is losing ground sliding down from its consolidative corridor to its daily lows towards the level of 1.3300, as US currency is gathering pace in early Europe. However, the upcoming UK CPI is limiting pairs moving range as traders refrain to make important decisions, as it remains the most risky event of this Tuesday. Moreover, further downside move appears capped as markets are still digesting yesterday’s dovish comments of Fed Governor L.Brainard, as she noted that Fed shouldn’t rush on rate rising.
EUR/USD
Current price: 1.1223 (-0.1%)
Session range: Open 1.1235 High 1.1243 Low 1.1219
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.1180 R. 1.1294
Main drivers: German ZEW Economic Sentiment, EU ZEW Economic Sentimen, Speech of ECB President M.Draghi
Overview: At the moment the pair remains almost unchanged as the euro consolidates its gained positions after dovish speech of the Fed Governor L.Brainard. However, the pair has started this week not very well as ongoing speculations around this year Fed rate-hike are keeping wind under dollar’s wings. Moreover, the unclear situation around Interest Rate Decision is holding the pair in narrow range lately as traders remain confused what to expect from US economy. Today for the pair center stage will take German ZEW Economic Sentiment and ECB President Draghi’s Speech scheduled in Europe session that will set up pair’s further direction.
AUD/USD
Current price: 0.7520 (-0.6%)
Session range: Open 0.7566 High 0.7570 Low 0.7519
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 0.7468 R. 0.7614
Main drivers: None
Overview: At the moment of writing the pair is trading near its daily lows as Australian bulls are out of steam in early Europe. Today the pair is back in the red zone despite positive Chinese data seen this morning as prevailing risk-off sentiments across the market are pressuring on the pair. Moreover, weakness around oil prices seen lately also collaborates well with aussie bears as Australian dollar remains resource linked currency.
USD/CHF
Current price: 0.9720 (0.0%)
Session range: Open 0.9719 High 0.9728 Low 0.9713
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.9651 R. 0.9797
Main drivers: None
Overview: Now the USD/CHF is trading in a flat mode tracking USD index direction as it remains down capped after dovish performance of Fed Governor L.Brainard. Moreover, today fresh wave of risk aversion also is supporting Swiss franc’s safe-haven currency status keeping the pair downsided near the level of 0.9700.
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Wednesday, September 14th
GBP/USD
Current price: 1.3212 (0.1%)
Session range: Open 1.3190 High 1.3229 Low 1.3166
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.3059 R. 1.3405
Main drivers: UK Average Earnings Index +Bonus, Claimant Count Change
Overview: Currently the pound is attempting to recover part of its losses after yesterday’s aggressive sell-off. Yesterday the major lost nearly two cents on the back of poor UK CPI refreshing 8-day lows at 1.3167 spot. However, the pound has met fresh bid tone today as traders are performing profit-taking actions this morning coupled with renewed risk-on sentiments that are supporting UK currency and pushing it higher above the level of 1.3200.
EUR/USD
Current price: 1.1222 (0.0%)
Session range: Open 1.1219 High 1.1242 Low 1.1210
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.1170 R. 1.1284
Main drivers: EU Industrial Production
Overview: Today the pair has recovered smile and now is moving in north direction. Softer tone behind US currency witnessed last hours is helping the euro to move away from overnight lows marked at 1.1210 level. However, ongoing speculations around next Fed Interest Rate Decision are still dominating across the market. Nothing noteworthy is scheduled for the pair on Wednesday, so the pair most likely will trace global markets sentiments to determine its further direction.
USD/CAD
Current price: 1.3173 (0.0%)
Session range: Open 1.3176 High 1.3181 Low 1.3127
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.2971 R. 1.3291
Main drivers: US Crude Oil Inventories
Overview: Today US dollar is losing the ground across the market allowing the loonie to reclaim part of its losses after refreshing its multi-week highs at 1.3190 mark yesterday. Weakness seen behind American currency is majorly based on the price correction moves after US dollar’s sharp rally. Moreover, higher oil prices seen this Wednesday are also lending some support to resource-linked Canadian dollar.
NZD/USD
Current price: 0.7260 (0.1%)
Session range: Open 0.7252 High 0.7290 Low 0.7237
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 0.7154 R. 0.7412
Main drivers: US Crude Oil Inventories, NZ GDP
Overview: The kiwi continues its recovery against American counterpart as higher oil prices with muted US dollar across the board are keeping the pair bid toned. Moreover, seems that traders have ignored negative data from New Zealand released this morning as strong bullish pressure keeps the pair buoyed. Today focus remains on weekly report from EIA of Crude Oil Inventories in NY session followed by final NZ GDP report.
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Thursday, September 15th
GBP/USD
Current price: 1.3237 (0.0%)
Session range: Open 1.3235 High 1.3280 Low 1.3199
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.3100 R. 1.3306
Main drivers: UK Interest Rate Decision, BoE MPC Meeting Minutes, US Retail Sales, US PPI, Philadelphia Fed Manufacturing Index
Overview: The GBP/USD pair has retreated from its today high posted at 1.3278 spot and now is wobbling near the mid-1.3200 level. The pair is moving in north direction for the second session in a row after refreshing August lows at 1.3140 level ahead of major event of this week – BOE Interest Rate Decision followed by MPC Meeting Minutes. Currently traders are staying in stay-and-see mode anticipating for fresh comments regarding post-Brexit concerns.
EUR/USD
Current price: 1.1231 (0.2%)
Session range: Open 1.1248 High 1.1255 Low 1.1219
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.1180 R. 1.1278
Main drivers: EU CPI, US Retail Sales, US PPI, Philadelphia Fed Manufacturing Index
Overview: Currently the euro is losing the grip vs. its American counterpart after having faced strong resistance at 1.1274 and now the pair is navigating to the negative territory. However, the pair is trading modestly flat as traders are staying alert ahead of crucial releases from both sides. Today on the data front market participants will find EU CPI, with US Retail Sales figure and Philadelphia Fed Manufacturing Index that will set up mid-term direction for the pair. Also, today BOE will announce its Interest Rate Decision that will be closely watched for any impact on the EUR.
USD/CAD
Current price: 1.3218 (0.2%)
Session range: Open 1.3196 High 1.3237 Low 1.3185
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.3097 R. 1.3257
Main drivers: US Retail Sales, US PPI, Philadelphia Fed Manufacturing Index
Overview: The US dollar extends its bullish momentum against its Canadian neighbor for the seventh session in a row refreshing its seven-week highs above its key resistance level of 1.3200. Today the loonie remains dismal majorly driven by decline in oil prices seen lately. Additionally, broadly based US dollar’s strength breathe in some bullish momentum to the pair. However, traders remain cautious lately awaiting for a flurry of economic data during NA session.
NZD/USD
Current price: 0.7256 (-0.4%)
Session range: Open 0.7283 High 0.7302 Low 0.7241
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 0.7201 R. 0.7351
Main drivers: US Retail Sales, US PPI, Philadelphia Fed Manufacturing Index
Overview: Today the pair is staying in the lower end of trading session after disappointing GDP figure from NZ. Moreover, the prevalent risk aversion sentiments and ongoing speculations around next Fed move regarding interest rate decision are additionally weighing the pair. Today key event of this Thursday remains BOE Interest Rate Decision that will have major impact across the FX market.
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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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