Insights for the Asian trading session
|Insights for the Asian trading session
* Japan BoJ Interest Rate Decision - ( Remains at 0.1%)
* United Kingdom Retail Price Index (YoY) - (Up 3.5% from 3.2% forecast and 3.2% from the previous period)
* United Kingdom Retail Price Index (MoM) - (Up 0.9% from 0.1% forecast and 0.6% from the previous period)
* United Kingdom Consumer Price Index (YoY) -(Up 2.7% from 2.4% forecast and 2.5% from the previous period)
* United Kingdom Consumer Price Index (MoM) - (Up 0.7% from 0.5% forecast and 0.0% from the previous period)
* United Kingdom Core Consumer Price Index (YoY) -( Up 2.1% from 1.8% forecast and 1.9% the previous period)
* Germany 10-y Bond Auction - ( Up 0.49% from 0.33% the previous period)
* United States Housing Starts (MoM) - ( Up 1.282M from 1.235M forecast and 1.174M from the previous period)
* United States Building Permits (MoM) - ( Down to 1.229M from 1.310M forecast and 1.303M from the previous period)
* New Zealand Gross Domestic Product (YoY) - Wed, Sep 19, 2018, 22:45 GMT
* New Zealand Gross Domestic Product (QoQ) - Wed, Sep 19, 2018, 22:45 GMT
Thursday's macro summary
* European Monetary Union EU leaders summit
* Australia RBA Bulletin
* Switzerland SNB Interest Rate Decision - Thu, Sep 20, 2018, 07:30 GMT
* Switzerland SNB monetary policy assessment - Thu, Sep 20, 2018, 07:30 GMT
* United Kingdom Retail Sales ex-Fuel (MoM), (YoY)- Thu, Sep 20, 2018, 08:30 GMT
* United Kingdom Retail Sales (YoY),(MoM) - Thu, Sep 20, 2018, 08:30 GMT
* United States Continuing Jobless Claims and Initial Jobless Claims- Thu, Sep 20, 2018, 12:30 GMT
* United States Philadelphia Fed Manufacturing Survey - Thu, Sep 20, 2018, 12:30 GMT
The FX Majors Current positions and its future forecast
What is going on now with AUD/USD?
AUD/USD: The Australian dollar continued its uptrend run above its 500 EMA and broke through the head and shoulder price pattern in the 60 minutes price chart during the European trading session.
Our forecast
AUD/USD: The Australian dollar has taken out two critical technical price points in the last 24 hours and looking quite strong as it holds on to its gains at 0.72660. However, The Australian dollar needs to maintain trading activities above 0.72572 to stay in the current trend. The pair also needs to break and hold above 0.72753 to continue to its next two targets at 0.72905 and 0.73032
The trade signals are going to be posted on to our Telegram channel as per the link below.
https://t.me/leoprimefx
Chart 1: The short-term view of the AUD/USD 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 AUD/USD price action in the 60 minutes 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 continues to hold on to its gains in the 60 minutes price channel; however the pair seems to be struggling as it spends most of its activities in the last 24 hours hanging on along the bottom of the price channel.
Our forecast
EUR/USD: The Euro currently trades at the bottom of the price channel in the 60 minutes price chart at 1.16748. The pair needs to break and hold above 1.6800 to continue to its next two targets at 1.16955 and 1.17114. A break below 1.6678 might push prices out of the price channel and down to 1.6558.
The trade signals are going to be posted on to our Telegram channel as per the link below.
https://t.me/leoprimefx
Chart 1: The short-term view of the EUR/USD 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 EUR/USD price action in the 60 minutes 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 increased its volatility during the European trading session with unpredictable swings from highs of 1.32148 to the lows of 1.30979. The pair had three successful bounces at around 1.31228 support in the last 24 hours; however, it has taken a slow approach in the middle of the price channel at the beginning of the Asian Treading session.
Our forecast
GBP/USD: The Better than expected UK economic data had created a very volatile and profitable session for the day traders taking on both direction; however, the bears seem to have benefited the most as the Pound settled at the bottom of the channel at the end of the overnight session. The Pound needs to break and hold above 1.31478 to head back up to 1.31570. Failure to hold at 1.31398 support could push the pound down to 1.31228 support.
Chart 1: The short-term view of the GBP/USD 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 GBP/USD price action in the 60 minutes 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 failed to continue to the upside at 112.362 and pulled back to 112.205 as indicated in yesterdays update. The pair fell from 112.320 support during the overnight session but managed to bounce at 112.168 support. The US dollar finished the overnight session above 112.255 support.
Our forecast
USD/JPY: The US dollar is still in a short-term downtrend, trading in a downward price channel. The pair needs to break and hold above 112.320 to get out of the price channel and head towards its price target at 112.362 and 112.460. Support remains at 112.255 and 112.205
Chart 1: The short-term view of the USD/JPY 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/JPY price action in the 60 minutes 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 continued its downward move in yesterday's session after falling to get back above 1.29843 as indicated in yesterdays session. The pair fell below 1.29843 to 1.2944 support; however, reversed with an erratic price swing to 1.30142 resistance. The US dollar reversed at 1.31042 and fell all the way to 1.2920 support.
Our forecast
USD/CAD: The US dollar now consolidates between 1.29264 and 1.2920 in the 30 minutes price chart. The pair currently trades at 1.29188 and needs to break and hold above 1.29264 to continue to the upside. The pair also needs to maintain above 1.2920 to avoid drifting further south.
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-hour price chart highlights the direction of the trend and the support and resistance price points
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