Forex today: Daily analysis

Trading Discussion Trade Journals
270

Another chance for the USD

10.06.2019

The level of retail sales and core retail sales will be out on June 14, at 15:30 MT time.

The indicator of retail sales represents the change in the total value of sales at the retail level. Its core level excludes the sales of autos due to their high volatility. Last time both of the indicators came out lower than the forecasts. The level of retail sales declined to 0.2% (vs. the anticipated increase to 0.2%), while its core level advanced only by 0.1% (vs. the forecast of 0.7%). If this time the situation changes, the USD will rise.

• If the actual levels of indicators are higher than the expectations, the USD will rise;

• If the actual levels of indicators are lower than the expectations, the USD will fall.

271

Market updates on June 11

11.06.2019

On Tuesday, the improved market sentiment supported risky assets such as stocks, emerging-market currencies, and crude oil.

Oil benchmarks have been trying to recover on the improved market sentiment. Talks that OPEC and its allies would continue its program of oil output cuts supported the oil market. However, the effect was limited. WTI moved up but with small gains. Up to now, the oil benchmark has been trading near 53.60. The resistance is located at 54.48. However, the downward pressure is high. If the benchmark is not able to break above 54.48. We will see a decline to 51.70. Brent rose less than WTI. The benchmark reached a high at 62.86. However, bears were stronger and Brent moved down. The support is located at 60.60.

The Chinese yuan succeeds to appreciate against the USD. On Friday, USD/CNH reached the highest level of the year at 6.9613. However, the improved sentiment encouraged Chinese currency. Up to now, the pair has been trading near 6.9242 moving to the support at 6.9165. A close below this level will lead to the further appreciation of the CNH. The next level to touch is 6.90. In the case of risk aversion, USD/CNH will turn around and will move towards 6.9470 targeting the top near 6.9614.

The Mexican peso keeps gaining strength against the US dollar. USD/MXN has been moving down for the 3 days in a row. If bears manage to pull the pair below 50-day simple MA at 19.08, we will see a further decline to 19.02. If the pair rebounds, we may anticipate a rise towards 19.24. The next resistance is at 19.3120.

272

Risk management

Risk management is the key element of Forex trading. It’s better to understand this simple fact rather sooner than later and put a lot of efforts into mastering this science. By definition, risk management is the identification, analysis, assessment, control, and avoidance, minimization, or elimination of unacceptable risks. The risk that exists for Forex traders is simple to understand: it’s the ever-present risk of a bad trade that is closed with a loss.

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273

MARKET UPDATES

13.06.2019

The Australian dollar weakened because of the bigger-than-expected unemployment rate figure. On H4, AUD/USD has been targeting the first support at 0.69. A close below this level will provoke a further decline to 0.6870 with a test of 0.6887. RSI and Stochastic Oscillators are in the oversold area, the rise of the pair will be confirmed as soon as RSI crosses the 30 level bottom up and Stochastic oscillator crosses the signal line. In the case of the rebound, the important resistance is located at 0.6933.

The Swiss franc rose on the Swiss National Bank statement. Although, the central bank kept the interest rate on hold and didn’t provide any hints on a soon increase, comments about the possible weakness of the euro and the USD supported the Swiss currency. As a result, USD/CHF fell. On H4, the pair reached the support at 0.9921 (50-period MA) but rebounded. The first resistance is located at 0.9956, a break above this level will signal a continuation of the upward movement. However, the resistance is strong and we may see a re-test of 0.9921. A break below this level will lift risks of the decline to 0.9888.

Brent has risen significantly after news about oil tankers being attacked in the Gulf of Oman. Up to now, the oil benchmark has been moving to the first resistance at 63.73 with a test of 63.

274

Heads up to the FOMC statement

17.06.2019

The Federal Open Market Committee will make its statement and announce the official rate on June 19, at 21:00 MT time.

Despite the demands by US President Donald Trump to cut the interest rate, no changes to it are expected. Now, policymakers keep the interest rate at 2.5%. However, we may find out the hints on the possibility of a rate cut later this year. Wednesday’s statement will show how the US-China trade war and recent weaker economic data affect the Fed decisions.

• If the Fed is hawkish, the USD will go up;

• If the Fed is dovish, the USD will go down.

275

The new stimulus for the euro? Mario Draghi sent EUR/USD lower on the dovish
hints.

18.06.2019

During today’s speech, the ECB President Mario Draghi made remarks on using a rate cut as a primary tool for an economic stimulus.
On the H4, EUR/USD fell to the support at 1.1179 during the European trading hours. At the moment, the pair is correcting to the upside. The first resistance is placed at 1.1211. If the positive momentum is short-lived, the pair will break the 1.1179 level and try to test the support at 1.1165.

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276

Market updates on June 19

19.06.2019

Key events ahead:

British CPI – 11:30 MT time

Forecast: 2%

Canadian CPI – 15:30 MT time

Forecast: +0.1%

Speech by the ECB president Mario Draghi – 17:00 MT time

FOMC statement – 21:00 MT time

After the plunge of the euro on the dovish comments by the ECB President, EUR/USD has been consolidating near the support at 1.1187 on the H4. If bears manage to break this level, the next support levels will lie at 1.1173 and 1.1165. Bulls need to push the pair higher to the resistance at 1.1209 to confirm their strength. The next resistance will lie at 1.1221. Traders will focus their attention to the fresh comments by the ECB president later today and to the FOMC meeting at 21:00 MT.

US President Donald Trump had a telephone conversation with Chinese President Xi yesterday. The leaders agreed to meet during the G20 Summit in Japan. The news increased the risk appetite in the market. The risk-on sentiment pushed the oil prices and the Canadian dollar up.

The price for WTI retested the $54.28 level on the news. On the daily chart, from the upside, the next resistance levels are placed at $55.71 and $57.60. Bears need to push the pair back to the support at $50.78 to confirm their strength. The next key level lies at $48.47.

Brent, in its turn, retested the upper border of the consolidation range at $62.66. The next resistance is placed at $63.6. In the case of the fall, we need to keep an eye on the lower border of the consolidation at $57.6. The next support is at $57.5.

On the H4, USD/CAD bounced from the 200-period SMA at 1.3427 and plunged below the 100-period SMA. The pair has tested the lows below the 1.3373 level. If bears continue to drive the loonie down, the next support will lie at 1.3357. On the other hand, pay attention to the resistance at 1.3409. The next level for bulls will lie at 1.3419. Next, the CPI release and the FOMC meeting will likely determine the direction for the pair.

277

Market updates on June 20

Read at: News for today

20.06.2019

Key events ahead:

The BOE monetary policy summary – 14:00 MT time

Yesterday, the Fed Chair Jerome Powell hinted the possibility of a rate cut as early as next month. His impatient tone pushed the EUR/USD pair higher. On H4, bulls successfully broke the 50-period SMA. At the moment the EUR is testing the resistance at 1.1294. The next resistance lies at 1.1316. If this level is broken, the next level in focus for bulls will be placed close to the descending trendline at 1.1344. From the downside, we need to pay attention to the support at 1.1257. As soon as it’s broken, the next support will lie at 1.1234 (100-period SMA). After that, bears will target the zone between 1.1224 and 1.1213.

USD/JPY fell on the dovish Fed, too. On H4, the pair found the support at 107.64. If the USD continues to weaken, the next support will lie at 107.29. On the flipside, we need to pay attention to the resistance levels at 108.3 and 108.64.

GBP/USD has been supported ahead of the BOE monetary policy summary. At the moment, it is trading near the resistance at 1.2710 on the H4. The next resistance levels lie at 1.2749 and 1.2780. If the GBP is supported today by the comment of Mark Carney, the next key level will lie at 1.2837. Bears need to keep an eye on the support levels at 1.2651 (100-period SMA), 1.2612 and 1.2557.

The Australian dollar has been rising on the hawkish comments by the RBA governor. Right now, the aussie is rising towards the resistance at 0.6931 (100-period SMA). If this level is broken, the next resistance will be placed between 0.6958 and 0.6966. Bears need to pull AUD/USD below 0.6913-0.6905 to confirm their strength. In that case, the next key level for them will lie at 0.6873.

278

Weekly Cryptonews

21.06.2019

Brian Kelly, chief executive of investment management firm BKCM:

Bitcoin is … digital gold. And, in my opinion, it’s probably a lot better than gold, but there is no trusted third party involved, and that’s the huge difference.

This week was super optimistic for Bitcoin bulls. Many positive events in the crypto market, including the announcement of Facebook’s crypto project Libra, pushed the digital asset higher. At the moment, it is looking forward to the breakout of the $9,800 level on the daily chart. If it happens, the next resistance will lie at $10,700. As far as it is broken, the further rise may be limited by the $11,420-$11,777 levels. From the downside, we need to pay attention to the $8,940, $8,664 and $7,970 levels. Awesome oscillator is moving upwards, which is a good signal of the possible further rise.

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Regulations:

·The South Korean crypto regulator promised to pay damages to users in case of hackers’ attacks or system lags.

·The Brazilian authorities obligated local and international crypto exchange platforms to share almost all of the users’ transactions.

Crypto announces:

·The Ethereum developer Justin Drake announced that the switch to Ethereum 2.0 was planned to start on January 3, 2020.

·On Tuesday, Facebook’s crypto project Libra was presented. Mark Zuckerberg introduced a new website, where you can find the white paper of a project. After the critics by different governments, the developers noted that the project would share with authorities the users’ data. Also, Libra Investment token was introduced. The launch of Facebook’s cryptocurrency is expected next year.

·Litecoin Foundation together with Bibox exchange platform and Ternio startup will release a debit crypto card.

·CEO of TRON announced the update of the network to the new version called Odyssey 3.6, to increase the protection and the possibility of dApps creation.
New developments:

·100 of leading Japanese producers, including Mitsubishi Electric and Yaskawa Electric, agreed to launch a collaborative blockchain system for the data exchange.

·The IT department of Samsung launches products for using blockchain in different types of business.

·Firefox developers detected and eliminated the vulnerability which could be used for stealing crypto. It’s recommended to update the browser to the latest version.

·The leading international consulting company PwC launched the Halo instrument for providing guarantee services in crypto payments.

·Japanese messenger LINE can get a resolution to create its own crypto exchange platform soon.
Current prices (last update 15:16 MT time):

Bitcoin $9,835

DASH $165.78

Ethereum $233.05

Litecoin: $138.94

279

5 important events this week will bring us!

24.06.2019

Speech by the Fed chair Jerome Powell (Tue, 20:00 MT (17:00 GMT time)) – After the dovish Federal Reserve, it would be interesting to hear the fresh comments by Jerome Powell.

RBNZ rate statement (Wed, 5:00 MT (2:00 GMT time)) – The Reserve bank of New Zealand will keep its interest rate on hold this time, but we will pay attention to the hints on the future changes to its monetary policy.

US final GDP growth (Thu, 15:30 MT (12:30 GMT time)) – According to the forecasts, the level of final GDP growth for the United States will advance by 3.1%. Higher figures will be supportive for the USD.

G20 meetings (Friday-Saturday) – The event is highly important as US president Donald Trump and Chinese President Xi Jinping are expected to meet there to discuss trade issues. The positive outcome of the meeting will set the risk mood in the market.

Canadian GDP growth (Fri, 15:30 MT (12:30 GMT) – The indicator is expected to increase by 0.2%. If the actual figures are higher, the Canadian dollar will rise.

Hot news:

As the market patiently anticipates the meeting between the US and Chinese presidents during the G20 Summit, the risk sentiment in the market has got softer on the comments by the Chinese Commerce Ministry. According to his words, both countries should be willing to make compromises.

After the victory of the opposition party in Istanbul mayor election, the Turkish lira has strengthened. This is a big hit to Erdogan’s ruling party.

The price for Bitcoin has tested the levels above $11,000 during the weekend.

US Secretary of State Mike Pompeo promised significant sanctions on Iran soon. It pushed the oil prices higher.

280

The GDP growth may push the USD up

25.06.2019

The United States will release the level of final GDP growth on June 27, at 15:30 MT.

This indicator is the broadest measure of economic activity, that is why traders pay high attention to it. Last time it came out lower than the expectations (2.2% vs. 2.4%). The negative data raised concerns over the slowdown of the US economy and was one of the reasons behind the projections of the rate cut by the Fed. As a result, the USD weakened. However, this time the figures may lead to a different outcome.

• If the actual level of GDP growth is higher than the forecasts, the USD will go up;

• If the actual level of GDP growth is lower than the forecasts, the USD will go down

281

Weekly Cryptonews

http://bit.ly/2Lna9WK

28.06.2019

Joe Kerner, CNBC journalist:

“Fiat currency is the currency for government, Libra is for corporations and the only Bitcoin was the asset for the people. I feel like a Bitcoin evangelist right now and stand by it. First of all, who made Facebook in charge to give out currency as and when they please. Who even anointed them, especially with their history?”

The week has been emotionally unstable for BTC traders. After the surge during the first part of the week, when the price for Bitcoin tested the levels above $13,800, the digital asset fell below $11,000 on Thursday. At the moment of writing, the digital currency has been trying to recover. It has already tested the resistance at $12,020. If bulls manage to break this level, the next resistance will be placed at $12,927. From the downside, the first support is placed at $10,563. After the break of this level, the further fall will be limited by the $9,168 level.

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Regulations:

· The Chinese authorities unexpectedly named Bitcoin as a safe haven for investors.

· US CFTC allowed the trading of Bitcoin futures on the LedgerX crypto exchange platform.

· The authorities of Malta wants to obligate the registration on the blockchain of all the transactions with the real estate.
Crypto announces:

· During the dump of BTC, Coinbase and BitMEX crypto exchange platform failed stress test and were functioning with glitches.

· The Singapore exchange platform Bitrue was hacked on Thursday. Hackers withdrew around $4.2 million in XRP and ADA.

· JPMorgan prepares to test its token with some of its corporate clients.
New developments:

· The Brave blockchain browser’s developers are working on the integration of the Ethereum, Ledger and Trezor crypto wallets.

· SWIFT will offer the usage of instant payments through the GPI platform to blockchain companies.

Current prices (last update 17:19 MT time)

Bitcoin $11,790

DASH $165.11

Ethereum $306.24

Litecoin: $119.19

282

Charts in MT4

In this video, we’ll talk about the key part of the trading terminal – price charts.

In the previous video, we saw that there are several ways to open a new chart in MT4.

You can either click “File” – “New chart” or the “New Chart Icon” in the standard toolbar.

Let’s know more about to use our account!

http://bit.ly/325QSPQ

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283

Market updates on July 2

02.07.2019

During the early trading hours, the Australian central bank cut its interest rate to 1% with the dovish outlook. As the decision was already priced in, the Australian dollar tested the ground below 50-period SMA ahead of the meeting but bounced back on the H4 chart. At the moment it is moving towards the resistance at 0.6994. The next resistance is placed at 0.7007. After the breakout of this level, keep an eye on the resistance at 0.7022. From the downside, bears need to pull the pair towards the 0.6963-0.6956 zone. After the breakout, the fall towards the support at 0.6947 is possible.

·Yesterday, the US threatened to raise tariffs on $4 billion of additional EU goods due to the dispute over aircraft subsidies. Combined with the comments on the further easing by the ECB policymakers, the news pulled the euro below the 50-period and 100-period SMAs on H4. Bears need to break the support at 1.1280 to pull EUR/USD lower. The next support levels will be placed at 1.1269 and 1.1257. On the other hand, if bulls try to push the pair up, they will, at first, reach the resistance at 1.1306 (100-period SMA). After that, they face resistance at 1.3190. If this level is broken, the next one will lie at 1.1348 (50-period SMA). RSI oscillator is about to leave the oversold zone, which may provide a buying opportunity. Pay attention to the speech by the FOMC member Williams, which may affect the EUR/USD pair.

·The uncertainties for the British pound remain, as one of the leading candidates on the post of the UK Prime Minister plans to leave the EU without a deal on October 31. The cable has been trying to stick below the 1.2623 on H4. The next support levels will be placed at 1.2612 and 1.2603. From the upside, buyers will pay attention to the 1.2648 level. After the breakout, the pair will rise as far as the 1.2670 level (100-period SMA) is reached.

·The greenback has risen significantly against the Chinese yuan. The USD/CNH has been testing the resistance at 6.8855 on the H4. The next significant level is placed at 6.8917. The PBOC set USD/CNY reference rate for today at 6.8513, that is why we may anticipate the fall of the pair. Keep an eye on the support levels at 6.8636, 6.8578 and 6.8486.

· Gold has been trading in a narrow range between $1,383 and $1,393 levels on H4. If the $1,393 level is broken, the next resistance lies at $1,404. After the breakout, the bullish strength may be limited by the resistance at $1,411. Bears need to pay attention to the $1,383 and $1,364 levels.

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Positive news from the US-China trade front is moving the aussie

More at: http://bit.ly/2Xp02TI

03.07.2019

The Australian dollar gained on the news that China considers buying more agricultural goods from the US. On H4, AUD/USD has risen higher above the 0.7022 level and is currently targeting the resistance at 0.7047. The next key level for bulls will lie at 0.7061. If the rise is limited, the pair will fall to the 0.7011 level. The next support will lie at 0.7.

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285

Market updates on July 4

04.07.2019

What currency pairs to watch today?

After the test of the 61.8% Fibo near the 1.1270 level on H4, the EUR/USD pair has been ranging between this level and resistance at 1.1294 (50% Fibo level). The bullish strength will be confirmed if the pair manages to break the current resistance and stick above the 100-period SMA. In that case, the rise may be limited by the next resistance at 1.1343 (50-period SMA). From the downside, the break of the 1.1270 level will increase the risks of the further fall towards the 1.1252 level (200-period SMA). This is also the border of the ascending trading channel.

Yesterday, GBP/USD slid towards the 1.2556 level. On H4, the pair is currently consolidating between 1.2556 and 1.2589-1.2597 levels. The weakness of the GBP will put additional pressure to the pair. As a result, if the 1.2556 level is broken, the next support will lie at 1.2510. On the other hand, the inability of bears to break the 1.2556 level will help bulls to retest the upper border of the consolidation range between 1.2589 and 1.2597. If these levels are broken, the pair will rise to the next resistance at 1.2632.

AUD/USD was unable to stick near the strong resistance at 0.7047 and fell below the 0.7022 level at the beginning of the day. Bulls need to break this level to restore the upward moving channel. However, MACD formed a bearish divergence with the price that is why we may expect further fall. From the downside, the 0.7011 and 0.7 levels are important for bears.

The kiwi has fallen below the 0.6693 level towards the 0.6674 level, which lies close to the 23.6% Fibo and 50-period SMA. The strength of bears will be confirmed if the pair manages to fall below this level and target the next support at 0.6656. The next key level for sellers will lie at 0.6629. If buyers take back control over the market, the kiwi will retest the resistance at 0.6693. The break of this level make it possible to retest the 0.6717 level.

286

Non-farm payrolls: what pairs to watch?

05.07.2019

Analysts anticipate the level of non-farm payrolls to increase by 162K jobs (vs. 75K previously). At the same time, the level of average hourly earnings is forecast to advance by 0.3% (vs. 0.2% previously) and the unemployment rate is expected to stay stable at 3.6%. If the NFP and average hourly earnings are higher and the unemployment rate is lower than the forecasts, the USD will go up. Be careful with your trades as the USD gets super volatile after the release.

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The USD has got stronger ahead of the release, but will the situation change after 15:30 MT?

· On H4, EUR/USD has crossed the 1.1270 level (61.8% Fibo) and is currently moving downwards to the 1.1257 level, which lies close to the 200-period SMA and the lower border of the ascending channel. If the employment data is positive, the pair will fall below the 1.1257 level towards the next support at 1.1223. There is the possibility for EUR/USD to reach the next support at 1.1219 and test the next level at 1.1202, of bearish pressure is strong. On the other hand, if the employment data disappoints, EUR/USD will rise back to the resistance at 1.1288, jump above the 50% Fibo level and go higher to the next resistance at 1.1319.

· GBP/USD has been testing the lower border of the consolidation range at 1.2556 on H4. If the USD gets stronger on the release, the fall towards the next support at 1.2510 will be possible. From the upside, pay attention to the resistance levels at 1.2589, 1.2604 and 1.2635.

· USD/JPY has jumped above the 100-period SMA on H4 in anticipation of the release. The next resistance levels for the pair lie at 108.12, 108.36 and 108.49. In case of a negative release, USD/JPY will fall back to 107.74. If this level is broken, the next support will lie at 107.56. Stochastic indicator is about to form a crossover within the oversold zone, which may provide us selling opportunity.

287

Market updates on July 8

Check the charts: News for today

08.07.2019

Last Friday the NFP outperformed the estimates. It increased by 224 thousand jobs (vs. 162 thousand expected). As a result, the USD strengthened and pulled EUR/USD down. On H4, the pair has been making modest gains towards the 1.1232 level. If this level is broken, the next resistance will lie at 1.1246. RSI is moving close to the 30 level and may signal a buying opportunity if it crosses this level from bottom to top. If the USD gets stronger, there is a possibility for the pair to break the 1.1219 level. The next support will lie at 1.1202.

GBP/USD tested the lows at 1.2480 on Friday after the employment release for the US and stuck near the 1.2510 level. On H4, bulls need to push the pair above the 1.2541 level to confirm their strength. In that case, the cable will rise as far as the 1.2589 level will be reached. From the downside, pay attention to the 1.2510 and 1.2480 levels.

After the Turkish president Recep Tayyip Erdoğan fired the head of the central bank as the Governor had not cut the interest rate, the Turkish lira fell down. On H4, USD/TRY formed a gap up at the beginning of the trading day. The rise of the pair was limited by the 100-period SMA near the 5.7557 level. If the Turkish lira continues to weaken, the next resistance levels will lie at 5.7794 and 5.8. On the other hand, the pair may correct to the support at 5.6967. The next support will lie at 5.6616.

288

Market updates on July 9

Check the charts: News for today

09.07.2019

The US dollar has continued to gain strength on the improved outlook and the cooling in the US-China trade tensions. On H4, EUR/USD slid towards the support at 1.1202. If this level is broken, the next support will lie at 1.1185. Bulls need to push the pair above the 1.1217 level. If they succeed, buying action will be limited by the 1.1232 level.

GBP/USD has tested the lows below the 1.2480 level on H4. The next support is placed at the level of the January’s flash crash at 1.2418. If the British pound is supported, the cable will try to break the descending trading channel and rise towards the resistance at 1.2541. The next key level will lie at 1.2604.

The Australian dollar weakened on the poor Business confidence data. The indicator dropped to 2 (vs. 7 previously). Combined with a stronger USD, this release pulled the aussie down. On H4, the AUD/USD pair has fallen below the 100- and 200- period SMA. The downward movement will complete the double top pattern. The next major support for the pair will be at 0.6920. After that pay attention to the 61.8% Fibo level at 0.6913. From the upside, levels at 0.6968 (38.2% Fibo) and 0.6989 will be important for bulls.

The New Zealand dollar has fallen below the support at the 50% Fibo level at 0.6608 on H4. The next support will lie at 0.6581, which is close to the 61.6% Fibo. Alternatively, the strong bullish surge may push the kiwi above the 100-period SMA at 0.6629. After that, reaching the 0.6641 and 0.6652 resistance levels seem possible.

Gold continues falling down due to the firmer USD. At the moment, it is targeting the support at $1,384. After the breakout, sellers will pay attention to the next support at $1,364. From the upside, the traders of the yellow metal will keep an eye on the $1,397 and $1,416 resistance levels.

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Market updates on July 10

10.07.2019

Key events ahead:

BOC rate statement – 17:00 MT

The bank won’t change its rate, that is why pay attention to its tone

Testimony by the Fed chair – 17:00 MT

More hints on the expected rate cut will weaken the USD

FOMC meeting minutes – 21:00 MT

Less dovish insights will bring positive momentum to the USD

· GBP/USD has continued to move within the downward trading channel on H4. If the British pound is supported today, the pair will break the 1.2459 level. After that, the rise above the 1.2476 level seems possible. The next key level for bulls will be placed at 1.2521. From the downside, the first support lies at 1.2439, the next one – at 1.2379.

· EUR/USD has been knocking the resistance at 1.1217 on H4. If this level is broken, the further rise will be limited by the 1.1232 level. The next resistance will lie at 1.1246. If the USD gets stronger today, the pair will fall below the 1.12 level which is correlated with the long-term trendline and target the next support at 1.1187. After that, the next key level in focus of bears will be placed at 1.1178.

· USD/CAD has been awaiting the central bank’s decision and testimony by the Fed chair. The pair has been trading within a narrow range on H4. Hawkish comments for the CAD will pull the pair below the 1.3119 level. The next support level will lie at 1.3104. After the breakout, the pair may fall below the 50-period SMA and target the 1.3084 level. On the other hand, strong USD will push the pair above the 1.3132 level. The next resistance levels will lie at 1.3146 and 1.3158. There is a possibility for the pair to complete the formation of the double bottom pattern if the pair manages to break the 1.3132 and 1.3146 levels.

· During the Asian trading session, the NZD/USD pair has tested the 0.6567 level. There was no clear reason behind this sellout. At the moment, the pair is trying to recover. On H4, it is moving towards the 50% Fibo above the 200-period SMA. If it manages to stick above this level, the rise will continue until the 0.6618 level will be reached. The support levels from the downside are 0.6581 (61.8% Fibo) and 0.6567.

· USD/JPY has been trading within the uptrend on H4. If the USD is supported today, the pair will break the resistance at 109. The next resistance will lie at 109.21. If the Fed chair provides dovish comments, the fall below the 108.71 level will be inevitable. The next support will lie at 108.51.