Daily Forex News

Posts: 77 · #61 - February 11, 2019, 06:23:11 AM

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

GBP USD
Daily Forex News in General Forex Discussion_cb0ss-75nb3

The GBP traded lower against the USD and closed at 1.2938.

Manufacturing Production m/m shows the change in the value of goods produced in the manufacturing sector of the UK industry in the given month compared to the previous month.
Manufacturing (production of foods, pharmaceuticals, light industry, metal processing, etc.) accounts for about 80% of the overall UK industrial production.

The indicator growth may have a positive effect on the pound quotes.

According to the Analysis, The pair is expected to find support at 1.29147, and a fall through could take it to the next support level of 1.28909. The pair is expected to find its first resistance at 1.29678, and a rise through could take it to the next resistance level of 1.29971.

Previous Day range was 53.1 and Current Day Range is 12.1.

NZD USD
Daily Forex News in General Forex Discussion_cba34-rksj8

Daily Forex News in General Forex Discussion_cba34-rksj8

The NZD traded higher against the USD and closed at 0.6745.

Electronic Card Retail Sales m/m reflect a percentage change in electronic card transactions over the reported month compared to the previous one. The indicator can be used in the estimation of consumer spending and economic activity.

The indicator values are seasonally adjusted and can be revised on a monthly basis, while monthly movements can fluctuate.

The pair is expected to find support at 0.67274, and a fall through could take it to the next support level of 0.67099. The pair is expected to find its first resistance at 0.67643, and a rise through could take it to the next resistance level of 0.67837.

NZD USD previous Day range was 36.9 and Current Day Range is 32.3.

EUR USD
Daily Forex News in General Forex Discussion_cb290-8lbqv

Daily Forex News in General Forex Discussion_cb290-8lbqv

The EUR traded bit lower against USD and closed at 1.1323.

FED Chair Speech affects USD depending on the speech rhetoric. If the speech is seen as an intention to raise the rates at the next FOMC meeting, this has a positive impact on USD and vice versa.

The FED Chair's statements have the greatest impact on the market compared to other members of the FED Board of Governors.

According to the analysis, pair is expected to find support at 1.13129, and a fall through could take it to the next support level of 1.13024. The pair is expected to find its first resistance at 1.13423, and a rise through could take it to the next resistance level of 1.13612.

EUR USD previous day range was 29.4 and current day range is 12.8.

Posts: 77 · #62 - February 12, 2019, 06:56:02 AM

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

AUD USD
Daily Forex News in General Forex Discussion_cbmtn-r8tqa

The AUD traded lower against the USD and closed at 0.7061.

The National Australia Bank (NAB) Business Confidence Index is calculated based on a business survey of Australian companies conducted by NAB. The report reflects business expectations for 17 different factors, including tax regulation, housing prices, interest rates, wages, geopolitical risks, federal and regional policies, and other factors.

A reading above zero indicates improving business conditions and can affect AUD quotes positively. A negative value indicates worsening conditions.

According to the Analysis, The pair is expected to find support at 0.70428, and a fall through could take it to the next support level of 0.70423. The pair is expected to find its first resistance at 0.70937, and a rise through could take it to the next resistance level of 0.71261.

Previous Day range was 50.9 and Current Day Range is 33.5.

USD CAD
Daily Forex News in General Forex Discussion_cby6c-us30m

Daily Forex News in General Forex Discussion_cby6c-us30m

The USD traded lower against the CAD and closed at 1.3301.

JOLTS Job Openings is a monthly report on job vacancies in the US commercial, industrial and office areas. The calculation includes all vacancies that are open as of the last business day of a month.

The indicator is included in the JOLTS (Job Openings and Labor Turnover Survey) report based on employers' survey. In addition to job openings, it includes data on employment, hires and separations.

JOLTS characterizes the US labor market. Index growth may have a positive effect on dollar quotes.

The pair is expected to find support at 1.32688, and a fall through could take it to the next support level of 1.32369. The pair is expected to find its first resistance at 1.33257, and a rise through could take it to the next resistance level of 1.33507.

USD CAD previous Day range was 56.9 and Current Day Range is 27.

USD JPY
Daily Forex News in General Forex Discussion_cbyje-yqk46

Daily Forex News in General Forex Discussion_cbyje-yqk46

The USD traded higher against JPY and closed at 110.367.

Industrial Production m/m reflects changes in the Japanese industrial sector outputs in the given month compared to the previous month. The report includes data of all production sectors in Japan, including industry, mining and energy.

Industrial production growth may have a positive effect on yen quotes.

According to the analysis, pair is expected to find support at 109.936, and a fall through could take it to the next support level of 109.505. The pair is expected to find its first resistance at 110.631, and a rise through could take it to the next resistance level of 110.895.

USD JPY previous day range was 6950 and current day range is 3020.

Posts: 77 · #63 - February 14, 2019, 07:58:15 AM

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

GBP USD
Daily Forex News in General Forex Discussion_cbn73-ksz7q

The GBP traded higher against the USD and closed at 1.2843.

Retail Sales m/m reflect a change in the US retail sails in the reported month compared to the previous one. The indicator is calculated based on statistics received from 5,000 retail stores of different types and sizes, and the data are then extrapolated to the whole country.

The indicator is used for estimating inflation. Its growth may have a positive effect on dollar quotes.

According to the Analysis, The pair is expected to find support at 1.28052, and a fall through could take it to the next support level of 1.27675. The pair is expected to find its first resistance at 1.29183, and a rise through could take it to the next resistance level of 1.29937.

Previous Day range was 113.1 and Current Day Range is 24.9.

AUD USD
Daily Forex News in General Forex Discussion_cbs3f-ohadb

Daily Forex News in General Forex Discussion_cbs3f-ohadb

The AUD traded higher against the USD and closed at 0.7088.

Initial Jobless Claims show the number of people filing to receive unemployment insurance benefits for the first time over the past week.

The indicator is used to assess the state of the labor market. Since the weekly flow of data causes high volatility, the four-week average values are used most often for interpretation.
The indicator growth can have a negative effect on US dollar quotes.

The pair is expected to find support at 0.70703, and a fall through could take it to the next support level of 0.70531. The pair is expected to find its first resistance at 0.71205, and a rise through could take it to the next resistance level of 0.71535.

AUD USD previous Day range was 50.2 and Current Day Range is 35.5.

USD JPY
Daily Forex News in General Forex Discussion_cbfxo-904c3

Daily Forex News in General Forex Discussion_cbfxo-904c3

The USD traded higher against JPY and closed at 111.

Gross Domestic Product (GDP) q/q reflects the monetary value of all goods and services produced in Japan during a given quarter compared to the previous one. The calculation takes into account private consumption, government spending, the costs of all enterprises and net exports of the country.
GDP growth can have a positive effect on yen quotes.

According to the analysis, pair is expected to find support at 110.599, and a fall through could take it to the next support level of 110.197. The pair is expected to find its first resistance at 111.226, and a rise through could take it to the next resistance level of 111.451.

USD JPY previous day range was 6270 and current day range is 2550.

Posts: 177 · #64 - February 14, 2019, 02:58:07 PM

hello bro, thank you for the very useful information that you provided, I followed what you submitted updates, very good news that you delivered and became a reference for high accuracy.

Posts: 77 · #65 - February 15, 2019, 08:17:26 AM

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

USD CAD
Daily Forex News in General Forex Discussion_cby9a-lcwkl

The USD traded higher against the CAD and closed at 1.3292.

Fed Industrial Production m/m reflects the production volume in the US in the given month compared to the previous one. The calculation includes the monthly industrial production of factories, mining enterprises and electric networks. Publishing business and periodicals are included as well. The index is calculated relative to the base period having a reference level of 100% (currently, it is the year of 2002).

The Fed uses this report for evaluating inflation and the country's manufacturing sector. The indicator can also be used to forecast the current period's GDP.

A higher than expected reading can have a positive effect on dollar quotes.

According to the Analysis, The pair is expected to find support at 1.32341, and a fall through could take it to the next support level of 1.31757. The pair is expected to find its first resistance at 1.33454, and a rise through could take it to the next resistance level of 1.33983.

Previous Day range was 111.3 and Current Day Range is 23.5.

EUR USD
Daily Forex News in General Forex Discussion_cbv6c-okoow

Daily Forex News in General Forex Discussion_cbv6c-okoow

The EUR traded higher against the USD and closed at 1.1294.

ECB Executive Board Member Speech can have an impact on the euro depending on the speech rhetoric and hints that analysts can find in the speech. Executive board members vote on interest rate and the monetary policy of the European regulator.

The pair is expected to find support at 1.12597, and a fall through could take it to the next support level of 1.12250. The pair is expected to find its first resistance at 1.13189, and a rise through could take it to the next resistance level of 1.13434.

EUR USD previous Day range was 59.2 and Current Day Range is 12.8.

USD CHF
Daily Forex News in General Forex Discussion_cb1u1-xlmhp

Daily Forex News in General Forex Discussion_cb1u1-xlmhp

The USD traded higher against CHF and closed at 1.0047.

Fed Industrial Production m/m reflects the production volume in the US in the given month compared to the previous one. The calculation includes the monthly industrial production of factories, mining enterprises and electric networks. Publishing business and periodicals are included as well. The index is calculated relative to the base period having a reference level of 100% (currently, it is the year of 2002).

The Fed uses this report for evaluating inflation and the country's manufacturing sector. The indicator can also be used to forecast the current period's GDP.

A higher than expected reading can have a positive effect on dollar quotes.

According to the analysis, pair is expected to find support at 1.00281, and a fall through could take it to the next support level of 1.00097. The pair is expected to find its first resistance at 1.00815, and a rise through could take it to the next resistance level of 1.01165.

USD CHF previous day range was 53.4 and current day range is 13.3.

Posts: 77 · #66 - February 19, 2019, 09:28:15 AM

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

EUR USD
Daily Forex News in General Forex Discussion_cbjak-e8n61

The EUR traded lower against the USD and closed at 1.1308.

ZEW Economic Sentiment Indicator is calculated monthly by the Center of European Economic Research on the basis of a survey of around 300 experts from banks, insurance companies and financial departments of corporations. The survey participants are asked about their expectations concerning the economy, inflation rates, interest rates, stock markets, and oil prices for the next six months. The index reflects the sentiment of institutional investors.

Index growth may have a positive impact on euro quotes.

According to the Analysis, The pair is expected to find support at 1.12868, and a fall through could take it to the next support level of 1.12604. The pair is expected to find its first resistance at 1.13298, and a rise through could take it to the next resistance level of 1.13510.

Previous Day range was 44.7 and Current Day Range is 19.8.

GBP USD
Daily Forex News in General Forex Discussion_cbbvm-psyvu

Daily Forex News in General Forex Discussion_cbbvm-psyvu

The GBP traded lower against the USD and closed at 1.2919.
Claimant Count Change presents the change in the number of people claiming unemployment benefits during the given month.
An increase in the claimant count is an indication of weakness in the labor narket and can have a negative effect on the GDP quotes.
The pair is expected to find support at 1.28939, and a fall through could take it to the next support level of 1.28692. The pair is expected to find its first resistance at 1.29400, and a rise through could take it to the next resistance level of 1.29614.

GBP USD previous Day range was 46.1 and Current Day Range is 29.6.

USD CHF
Daily Forex News in General Forex Discussion_cbxlx-ki3o1

Daily Forex News in General Forex Discussion_cbxlx-ki3o1

The USD traded higher against CHF and closed at 1.0038.

Federal Open Market Committee (FOMC) Member Speech may contain indications on the possible future changes in the Fed's monetary policy.
Committee members participate in interest rate voting, determine appropriate monetary policy measures and assess the risks to long-run goals of price stability and sustainable economic growth.

According to the analysis, pair is expected to find support at 1.00243, and a fall through could take it to the next support level of 1.00104. The pair is expected to find its first resistance at 1.00516, and a rise through could take it to the next resistance level of 1.00650.

USD CHF previous day range was 27.3 and current day range is 17.9.

Posts: 98 · #67 - February 19, 2019, 05:18:05 PM

Quote from: xtreamforex26 on February 19, 2019, 09:28:15 AM

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

EUR USD

The EUR traded lower against the USD and closed at 1.1308.

ZEW Economic Sentiment Indicator is calculated monthly by the Center of European Economic Research on the basis of a survey of around 300 experts from banks, insurance companies and financial departments of corporations. The survey participants are asked about their expectations concerning the economy, inflation rates, interest rates, stock markets, and oil prices for the next six months. The index reflects the sentiment of institutional investors.

Index growth may have a positive impact on euro quotes.

According to the Analysis, The pair is expected to find support at 1.12868, and a fall through could take it to the next support level of 1.12604. The pair is expected to find its first resistance at 1.13298, and a rise through could take it to the next resistance level of 1.13510.

Previous Day range was 44.7 and Current Day Range is 19.8.

GBP USD

The GBP traded lower against the USD and closed at 1.2919.
Claimant Count Change presents the change in the number of people claiming unemployment benefits during the given month.
An increase in the claimant count is an indication of weakness in the labor narket and can have a negative effect on the GDP quotes.
The pair is expected to find support at 1.28939, and a fall through could take it to the next support level of 1.28692. The pair is expected to find its first resistance at 1.29400, and a rise through could take it to the next resistance level of 1.29614.

GBP USD previous Day range was 46.1 and Current Day Range is 29.6.

USD CHF

The USD traded higher against CHF and closed at 1.0038.

Federal Open Market Committee (FOMC) Member Speech may contain indications on the possible future changes in the Fed's monetary policy.
Committee members participate in interest rate voting, determine appropriate monetary policy measures and assess the risks to long-run goals of price stability and sustainable economic growth.

According to the analysis, pair is expected to find support at 1.00243, and a fall through could take it to the next support level of 1.00104. The pair is expected to find its first resistance at 1.00516, and a rise through could take it to the next resistance level of 1.00650.

USD CHF previous day range was 27.3 and current day range is 17.9.

Good evening sir, responding to the pair gu, now the price is testing resistance at 13000
may be corrected first or maybe it will go up higher immediately
but in my opinion if tomorrow's closing price is capable of above 130000 the odds of going up will be greater and will test the next resistance at the level of 13100

Posts: 77 · #68 - February 20, 2019, 07:44:01 AM

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

EUR USD

The EUR traded higher against the USD and closed at 1.134.

ECB Executive Board Member Speech can have an impact on the euro depending on the speech rhetoric and hints that analysts can find in the speech. Executive board members vote on interest rate and the monetary policy of the European regulator.

According to the Analysis, The pair is expected to find support at 1.12914, and a fall through could take it to the next support level of 1.12429. The pair is expected to find its first resistance at 1.13711, and a rise through could take it to the next resistance level of 1.14053.

Previous Day range was 81.2 and Current Day Range is 20.1.

USD CAD

The USD traded lower against the CAD and closed at 1.3211.

Federal Open Market Committee (FOMC) Member Speech may contain indications on the possible future changes in the Fed's monetary policy.

Committee members participate in interest rate voting, determine appropriate monetary policy measures and assess the risks to long-run goals of price stability and sustainable economic growth.

The pair is expected to find support at 1.31837, and a fall through could take it to the next support level of 1.31551. The pair is expected to find its first resistance at 1.32591, and a rise through could take it to the next resistance level of 1.33060.

USD CAD previous Day range was 75.4 and Current Day Range is 32.

USD CHF

The USD traded higher against CHF and closed at 1.0007

FOMC Minutes is a detailed report of the Federal Open Market Committee meeting. The meetings are held 8 times a year and focus on the country's economic and financial conditions, monetary policy and Fed interest rates.
The minutes reveal the position of Fed and individual FOMC members concerning the monetary policy and contain data on the interest rate voting: distribution of "for" and "against" votes, as well as the rhetoric of the voting Committee members.
The minutes are published in two weeks after the FOMC meeting. Depending on their content, they can affect USD either positively or negatively.
According to the analysis, pair is expected to find support at 0.99844, and a fall through could take it to the next support level of 0.99622. The pair is expected to find its first resistance at 1.00420, and a rise through could take it to the next resistance level of 1.00762.

USD CHF previous day range was 58.7 and current day range is 13.2.

Posts: 77 · #69 - February 21, 2019, 07:50:40 AM

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

EUR USD
Daily Forex News in General Forex Discussion_cbuef-1pmgs

The EUR traded higher against the USD and closed at 1.1336.

ECB Executive Board Member Speech can have an impact on the euro depending on the speech rhetoric and hints that analysts can find in the speech. Executive board members vote on interest rate and the monetary policy of the European regulator.

According to the Analysis, The pair is expected to find support at 1.13159, and a fall through could take it to the next support level of 1.12983. The pair is expected to find its first resistance at 1.13630, and a rise through could take it to the next resistance level of 1.13897.

Previous Day range was 45.7 and Current Day Range is 18.6.

USD CAD
Daily Forex News in General Forex Discussion_cbiey-3tc0h

Daily Forex News in General Forex Discussion_cbiey-3tc0h

The USD traded lower against the CAD and closed at 1.3175.

Core Durable Goods Orders m/m reflect the value of orders received by manufacturers of durable goods in the given month compared to the previous one. The production of transport industry is excluded from the calculation.
The index allows forecasting future production volumes in the short term.
The value growth can have a positive effect on dollar quotes.
The pair is expected to find support at 1.31448, and a fall through could take it to the next support level of 1.31146. The pair is expected to find its first resistance at 1.32105, and a rise through could take it to the next resistance level of 1.32460.

USD CAD previous Day range was 65.7 and Current Day Range is 25.8.

GBP USD
Daily Forex News in General Forex Discussion_cb6d7-ojjj9

Daily Forex News in General Forex Discussion_cb6d7-ojjj9

The GBP traded lower against USD and closed at 1.3048

BoE MPC members are responsible for setting the interest rate and their speeches often contain indications on the future possible direction of monetary policy.

According to the analysis, pair is expected to find support at 1.30038, and a fall through could take it to the next support level of 1.29594. The pair is expected to find its first resistance at 1.30992, and a rise through could take it to the next resistance level of 1.31502.

GBP USD previous day range was 95.4 and current day range is 23.3.

Posts: 77 · #70 - February 22, 2019, 10:05:54 AM

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

EUR USD

The EUR traded lower against the USD and closed at 1.1334.

The Ifo Business Climate Index reflects the current economic situation and forecasts for the next six months from the point of view of German companies. The indicator is compiled based on a survey of more than seven thousand companies.

A higher than expected reading is seen as favorable for the euro quotes, while lower readings are seen as negative.

According to the Analysis, The pair is expected to find support at 1.13156, and a fall through could take it to the next support level of 1.12973. The pair is expected to find its first resistance at 1.13591, and a rise through could take it to the next resistance level of 1.13843.

Previous Day range was 43.5 and Current Day Range is 11.6.

USD CAD

The USD traded higher against the CAD and closed at 1.3231.

Canada Retail Sales m/m show changes in the value of goods sold in retail stores in the specified month compared to the previous month. The indicator is calculated based on statistics from several thousand retail stores, and the data is then extrapolated to the whole country.
The indicator evaluates the consumer activity and inflation. The indicator growth can have a positive effect on CAD quotes.

The pair is expected to find support at 1.31842, and a fall through could take it to the next support level of 1.31377. The pair is expected to find its first resistance at 1.32556, and a rise through could take it to the next resistance level of 1.32805.

USD CAD previous Day range was 71.4 and Current Day Range is 16.6.

USD CHF

The USD traded higher against CHF and closed at 1.0006.

Federal Open Market Committee (FOMC) Member Speech may contain indications on the possible future changes in the Fed's monetary policy.
Committee members participate in interest rate voting, determine appropriate monetary policy measures and assess the risks to long-run goals of price stability and sustainable economic growth.

According to the analysis, pair is expected to find support at 0.99923, and a fall through could take it to the next support level of 0.99786. The pair is expected to find its first resistance at 1.00213, and a rise through could take it to the next resistance level of 1.00366.

USD CHF previous day range was 29 and current day range is 11.7.

Learn Technical Analysis about EUR USD, USD CAD, USD CHF. Two pairs USD CAD, USD CHF look higher then EUR USD.

Posts: 32 · #71 - February 25, 2019, 07:37:42 PM

Please correct the links to all your images. Thanks

Posts: 77 · #72 - February 26, 2019, 07:13:20 AM

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

USD JPY

The USD traded lower against the JPY and closed at 111.051.

Building Permits show the number of permits for the construction of new facilities issued by the government or other regulatory authority for the given month compared to the previous one.

The medium-term state of the real estate market is predicted based on this indicator. Index growth may have a positive effect on dollar quotes.

According to the Analysis, The pair is expected to find support at 110.676, and a fall through could take it to the next support level of 110.301. The pair is expected to find its first resistance at 111.329, and a rise through could take it to the next resistance level of 111.607.

Previous Day range was 6530 and Current Day Range is 3180.

AUD USD

The AUD traded lower against the USD and closed at 0.7165.

Consumer Confidence Index displays the level of consumer confidence in the stability of the country's economy. It is based on the data from the monthly survey of more than 5000 households and is designed to evaluate the relative financial status, purchasing power and confidence of an average consumer. The survey consists of five questions, two of which are associated with the current economic conditions, while three deal with expectations. Since 60% of the survey has to do with expectations, the indicator is considered to be a leading market indicator. The indicator growth assumes an increase in consumer spending.

The pair is expected to find support at 0.71358, and a fall through could take it to the next support level of 0.71061. The pair is expected to find its first resistance at 0.71896, and a rise through could take it to the next resistance level of 0.72137.

AUD USD previous Day range was 53.8 and Current Day Range is 22.5.

USD CHF

The USD traded lower against CHF and closed at 1.0006.

FED Vice Chairman Speech affects USD depending on the speech rhetoric. If the speech is seen as an intention to raise the rates at the next FOMC meeting, this has a positive impact on USD and vice versa.
Among the public statements made by the members of the Fed Board of Governors, the speech of the Vice Chairman is the second most important event after the Chair's speech.

According to the analysis, pair is expected to find support at 0.99887, and a fall through could take it to the next support level of 0.99717. The pair is expected to find its first resistance at 1.00171, and a rise through could take it to the next resistance level of 1.00285.

USD CHF previous day range was 28.4 and current day range is 12.4.

Posts: 77 · #73 - February 27, 2019, 06:14:48 AM

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

EUR USD
Daily Forex News in General Forex Discussion_cbn7u-zbc2c

The EUR traded lower against the USD and closed at 1.1388.

FED Chair Testimony in the Congress or its individual committees (for example, the Joint Economic Committee) describes the current prospects of the US economy and explains Fed's recent actions related to the monetary policy.

The statement consists of two parts: the Fed 's Chair testimony and a series of questions and answers. The second part may have a strong short-term impact on dollar quotes.

According to the Analysis, The pair is expected to find support at 1.13552, and a fall through could take it to the next support level of 1.13219. The pair is expected to find its first resistance at 1.14119, and a rise through could take it to the next resistance level of 1.14353.

Previous Day range was 56.7 and Current Day Range is 17.1.

NZD USD
Daily Forex News in General Forex Discussion_cbetj-dda94

Daily Forex News in General Forex Discussion_cbetj-dda94

The NZD traded higher against the USD and closed at 0.6882.

Pending Home Sales m/m reflect the number of home sales contracts signed in the given month as compared to the previous one.
Since a contract completion takes an average of 6-8 weeks, Pending Home Sales is a leading indicator of the US housing market forecasting final sales for two months in advance.
The indicator growth can have a positive effect on dollar quotes.

The pair is expected to find support at 0.68673, and a fall through could take it to the next support level of 0.68532. The pair is expected to find its first resistance at 0.68991, and a rise through could take it to the next resistance level of 0.69168.

NZD USD previous Day range was 31.8 and Current Day Range is 18.8.

GBP USD
Daily Forex News in General Forex Discussion_cb7kk-n3rcv

Daily Forex News in General Forex Discussion_cb7kk-n3rcv

The GBP traded lower against USD and closed at 1.3249.

Markit/CIPS Manufacturing PMI is calculated by Markit together with the Chartered Institute of Procurement & Supply (CIPS). It characterizes the state of the industrial sector.

The index is calculated based on surveys of purchasing managers in the manufacturing sector. The mangers answer a number of questions about the production development, as well as their economic and financial expectations. The survey data is compiled into a leading indicator of overall economic performance.
A reading above 50 indicates growth in the sector and can have a positive effect on the pound quotes.

According to the analysis, pair is expected to find support at 1.31353, and a fall through could take it to the next support level of 1.30218. The pair is expected to find its first resistance at 1.33242, and a rise through could take it to the next resistance level of 1.33996.

GBP USD previous day range was 188.9 and current day range is 19.9.

Posts: 77 · #74 - February 28, 2019, 06:22:56 AM

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

USD CAD
Daily Forex News in General Forex Discussion_cb9ud-nvg36

The USD traded lower against the CAD and closed at 1.3155.

Canada Gross Domestic Product (GDP) m/m is the macroeconomic indicator of the national economy state. It reflects the value of all goods and services produced in all sectors of economy on the territory of Canada. The indicator shows the GDP change in the reported month compared to the previous one.

GDP growth can have a positive effect on CAD quotes.

According to the Analysis, The pair is expected to find support at 1.31231, and a fall through could take it to the next support level of 1.30914. The pair is expected to find its first resistance at 1.31813, and a rise through could take it to the next resistance level of 1.32078.

Previous Day range was 58.2 and Current Day Range is 17.9.

USD CHF
Daily Forex News in General Forex Discussion_cbaxo-pvvnu

Daily Forex News in General Forex Discussion_cbaxo-pvvnu

The USD traded lower against the CHF and closed at 1.0013.

Switzerland Gross Domestic Product (GDP) q/q reflects changes in the market value of domestically produced goods and services, in the reported quarter compared to the previous quarter.
The indicator shows GDP calculated using the value-added statistics (i.e. using the so-called production approach). Value added is determined as a difference between the total income and material production costs.
GDP growth can have a positive effect on CHF quotes.

The pair is expected to find support at 0.99786, and a fall through could take it to the next support level of 0.99441. The pair is expected to find its first resistance at 1.00309, and a rise through could take it to the next resistance level of 1.00487.

USD CHF previous Day range was 52.3 and Current Day Range is 26.3.

USD JPY
Daily Forex News in General Forex Discussion_cbcew-6iu18

Daily Forex News in General Forex Discussion_cbcew-6iu18

The USD traded lower against JPY and closed at 110.985.

ISM Manufacturing PMI reflects business conditions in the US manufacturing sector in the specified month. The indicator is based on a survey of representatives from more than 400 companies. Unlike Markit, ISM considers not only private companies but is based on the common NAICS (North American Industrial Classification System) list. The questionnaire considers employment, production level, inventories, new orders and supplier deliveries.
Readings above 50 can have a positive effect on US dollar quotes.

According to the analysis, pair is expected to find support at 110.536, and a fall through could take it to the next support level of 110.086. The pair is expected to find its first resistance at 111.253, and a rise through could take it to the next resistance level of 111.520.

USD JPY previous day range was 7170 and current day range is 1660.

Posts: 77 · #75 - March 01, 2019, 07:10:43 AM

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

EUR USD
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The EUR traded lower against the USD and closed at 1.137.

The core Consumer Price Index released by Eurostat is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services excluding the volatile components like food, energy, alcohol and tobacco. The core CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive or bullish for the EUR, while a low reading is seen as negative.

According to the Analysis, The pair is expected to find support at 1.13474, and a fall through could take it to the next support level of 1.13242. The pair is expected to find its first resistance at 1.14065, and a rise through could take it to the next resistance level of 1.14424.

Previous Day range was 59.1 and Current Day Range is 10.8.

AUD USD
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Daily Forex News in General Forex Discussion_cb3hy-eeh2k

The AUD traded higher against the USD and closed at 0.7092.

Jerome H. Powell took office as a member of the Board of Governors of the Federal Reserve System on May 25, 2012, to fill an unexpired term. On November 2, 2017, President Donald Trump nominated Powell to serve as the next Chairman of the Federal Reserve. Powell assumed office as Chair on February 5, 2018.

The pair is expected to find support at 0.70658, and a fall through could take it to the next support level of 0.70398. The pair is expected to find its first resistance at 0.71419, and a rise through could take it to the next resistance level of 0.71920.

AUD USD previous Day range was 76.1 and Current Day Range is 24.2.

GBP USD
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Daily Forex News in General Forex Discussion_cbfnn-yp3c4

The GBP traded little higher against USD and closed at 1.326.

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

According to the analysis, pair is expected to find support at 1.32355, and a fall through could take it to the next support level of 1.32111. The pair is expected to find its first resistance at 1.33008, and a rise through could take it to the next resistance level of 1.33417.

GBP USD previous day range was 65.3 and current day range is 13.1.

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