Insights for the Asian Forex trading session Thursday 17/10/2018
|Insights for the Asian Forex trading session Thursday 17/10/2018
* U.K. Consumer Price Index (CPI) YoY (SeP) - Down 2.4% vs 2.6% forecast
* U.K. Consumer Price Index (CPI) MoM (SeP) - Dow 0.1% vs 0.2% forrcast
* Eurozone Core Consumer Price Index (CPI) YoY (Sep) - 0.9% vs 0.9% forecast
* Eurozone Consumer Price Index (CPI) YoY (SeP) - 2.1% vs 2.1% forecast
* Eurozone Consumer Price Index (CPI) MoM (Sep) - 0.5% vs 0.5% forecast
* U.S. Building Permits (Sep)- Down 1.241M vs 1.287M forecast
* U.S. Crude Oil Inventories - Up 6.490M vs 1.600M forecast
Thursday's macro summary
* Japan Adjusted Trade Balance - 10.50 hrs
* Japan Exports YoY (Sep) - 10.50 hrs
* Japan Trade Balance (Sep) - 10.50 hrs
* Australia Employment Change (Sep) - 11.30 hrs
* Australia Full Employment Change (Sep) - 11.30 hrs
* National Australia Bank Quarterly Business Confidence - 11.30 hrs
* Australia Unemployment Rate (Sep) - 11.30 hrs
* U.K. Core Retail Sales MoM (Sep) - 19.30 hrs
* U.K. Core Retail Sales YoY (Sep) - 19.30 hrs
* U.K. Retail Sales MoM (Sep) - 19.30 hrs
* U.K. Retail Sales YoY (Sep) - 19.30 hrs
* Spain 10-Year Obligacion Auction - 19.40 hrs
* U.S. Initial Jobless Claims - 23.30 hrs
* U.S. Philadelphia Fed Manufacturing Index (Oct) - 23.30 hrs
The FX Majors Current positions and its future forecast
What is going on now with AUD/USD?
AUD/USD: The Australian dollar held on above 0.71360 in yesterdays session and reached 0.71580 before pulling back to the middle of the price channel at 0.71220 during the European session. The pair bounced at 0.71220 but failed to continue to the upside and continued its downward moves to 0.71100 in this mornings session.
Our forecast
AUD/USD: The Australian dollar has slipped below 0.71100 support in this mornings trades and could continue down to 0.70935. The pair needs to get back and hold above 0.71220 to continue to the upside.
Support - 0.70935, 0.70800, and 0.70680
Resistance/Target - 0.71220, 0.71360, and 0.71580
The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx
Chart 1: The short-term view of the AUD/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points
Chart 2: The short-term view of the AUD/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points
What is going on now with EUR/USD?
EUR/USD: The Euro Fell to 1.15560 in yesterdays session and made many attempts to break out at 1.15785 but failed and was pushed down to 1.15370 as indicated on the 60 minutes price chart. The pair continued its downward moves during the European session and had taken out two major support price points at 1.15370 and 1.15070 in this mornings trades.
Our forecast
EUR/USD: The Euro has slipped below 1.15070 in this morning session and could continue down to the next support at 1.14850. The pair currently trades at 1.14983 and needs to hold above 1.14946 to make a change to the current trend. A significant retracement price level is estimated at 1.14670 that if the prices continued below 1.14946 and 1.14850
Support- 1.14946, 1.14850, and 1.14670
Resistance/Target - 1.15070, 1.15370, and 1.15560
The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx
Chart 1: The short-term view of the EUR/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points
Chart 2: The short-term view of the EUR/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points
What is going on now with GBP/USD?
GBP/USD: The Pound fell to 1.31435 as indicated in yesterdays update after failing to hold above 1.31785. The pair continued down and bounced at its 500 EMA during the European session but failed to maintain above 1.31435 and was pushed back down to its 500 EMA in this morning's trades.
Our forecast
GBP/USD: The Pound dipped below its 500 EMA and 1.31020 in this mornings session but managed to pull itself up and closed the last 60 minutes price candle above 1.31020 support. The pair currently trades at 1.31045 and might head back up to retest 1.31435 resistance if it holds above its 500 EMA and 1.31020. The pair could also continue down to 1.30735 if it fails to maintain above its 500 EMA in the 60 minutes time frame.
Support -1.31020, 1.30735, and 1.30335
Resistance -1.31170, 1.31435, and 1.31785
The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx
Chart 1: The short-term view of the GBP/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points
Chart 2: The short-term view of the GBP/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points
What is going on now with USD/JPY?
USD/JPY: The US dollar broke through 112.250 and reached 112.385 estimates in yesterdays session but failed to continue and pulled back to 112.095 support. The pair bounced at 112.095 during the European session and rallied reaching its 500 EMA at 112.600 in this mornings session.
Our forecast
USD/JPY: The US dollar has reached a significant price level in this mornings session breaking through its 500 EMA in the 60 minutes price chart. However, the US dollar needs to maintain above its 500 EMA to continue its recovery. The pair currently trades at 112.638 and could continue to 112.900 if it maintains above 112.600 and its 500 EMA. If it fails at its 500 EMA, then we expect the pair to pull back to 112.385.
Support -112.600, 112.385, and 112.250
Resistance/ target - 112.825, 112.900, and 113.195
The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx
Chart 1: The short-term view of the USD/JPY price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points
Chart 2: The short-term view of the USD/JPY price action in the four hours price chart highlights the direction of the trend and the support and resistance price points
What is going on now with USD/CAD?
USD/CAD: The US dollar did very well in the last 24 hours. The US dollar broke through 1.29535 and its 500 EMA at 1.29770 and continued it's upwards run during the overnight session. The pair pierced through 1.29945 a significant resistance line in this mornings session and pushed on towards 1.30390.
Our forecast
USD/CAD: The US dollar currently trades at 1.30274 in the 60 minutes time frame and looks to be heading to 1.30390. The pair has achieved a significant price point in this last 24 hours pushing prices above and beyond its 500 EMA in the 60 minutes price chart. However, The US dollar needs to maintain above 1.29945 to hold the current trend.
Support - 1.30234, 1.30095, and 1.29940
Resistance/Target - 1.30390 and 1.30720, and 1.31110
The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx
Chart 1: The short-term view of the USD/CAD price action in the 30 minutes price chart highlights the direction of the trend and the support and resistance price points
Chart 2: The short-term view of the USD/CAD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points
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