Denis Joeli Fatiaki
Independent Analyst
Insights for the Asian Forex trading session Friday 12/10/2018
* U.S. Core Consumer Price Index (CPI) YoY (Sep) (Down 2.2% from 2.3% forecast and 2.2% from the previous period)
* U.S. Core Consumer Price Index (CPI) MoM (Sep) (Down 0.1% from 0.2% forecast and 0.1% from the previous period)
* U.S. Consumer Price Index (CPI) MoM (SeP) (Down 0.1% from 0.2% forecast and 0.2% from the previous period)
* U.S. Initial Jobless Claims - ( Increased to 214K from 206K forecast and 207K from the previous period)
* U.S. Crude Oil Inventories - (5.987M from 2.620M forecast and 7.975M from the previous period)
Friday's macro summary
* Australia Home Loans MoM (AUG) - 11.30 hrs
* Reserve Bank of Australia Financial Stability Review - 11.30 hrs
* Germany Consumer Price Index (CPI) MoM (Sep) - 17.00 hrs
* Eurozone Industrial Production MoM (Aug) - 20.00 hrs
* U.S. Export Price Index MoM (Sep) - 23.30 hrs
* U.S. Import Price Index MoM (Sep) - 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 continued its pullback in yesterdays session to 0.70410 before reversing at 0.70560. The pair made its way back to 0.71220 resistance price level during the overnight session and made several attempts to cross over the line in but was unsuccessful.
Our forecast
AUD/USD: The Australian dollar made some reasonable gains in the past 24 hours and currently attempts to break at 0.71220 to extend its run to 0.71580. The pair currently trades at 0.71219 and needs to break and hold above 0.71220 to continue to the upside. The pair might pull back to 0.70935 if it fails to break at 0.71220
Support - 0.70935, 0.70800, and 0.70680
Resistance/Target - 0.71360, 0.71580, and 0.71880
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 dipped below 1.15370 in yesterdays session but managed to reverse close to 1.15070 and maintain its position throughout the overnight session. The pair came down on two occasions but managed to hold and continued to the upside.
Our forecast
EUR/USD: The Euro currently trades above its 500 EMA in the 60 minutes time frame at 1.15941. The pair has made it above a critical resistance point at 1.5930; however, it needs to maintain above this point to continue to its next target at 1.16235. The Euro might pull back to 1.15560 if it fails to continue at 1.15930
Support- 1.15785, 1.15560, and 1.15370
Resistance/Target - 1.15930, 1.16235, and 1.16470
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 has been fluctuating in a wide price range between 1.31785 and 1.32500 for the past 24 hours in the 60 minutes time frame. The pair still maintains its uptrend position; however, the situation could change if the Pound falls below 1.31785.
Our forecast
GBP/USD: We expect the Pound to continue its current trend until it breaks out. The Pound currently trades at 1.32285 moving towards 1.32500 for another attempt to break out. The pair needs to break and maintain above 1.32500 to continue to its next target at 1.32795. Support remains at 1.32145 and 1.31785.
Support -1.32145,1.31785, and 1.31435
Resistance -1.32500, 1.32795, and 1.33190
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 consolidated between 112.385 and 112.095 in the 60 minutes price chart for 12 hours in yesterdays session before breaking out to the upside. The breakout failed to progress to the upside, and the pair retreated to the consolidation range.
Our forecast
USD/JPY: The US dollar fell out of the consolidation range in this mornings session and attempted to get back up but now started to slide at 112.066. The breakout point to the upside remains at 112.385. The pair needs to break and hold above this point to continue to 112.600 and 112.900. The pair could fall to around 111.920 and 111.720 if it fails at 112.095
Support -111.920,111.720, and 111.550
Resistance/ target - 112.385,112.600, and 112.900
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 held on above 1.30390 support in the 60 minutes time frame and consolidated for several hours in yesterdays session but slipped below 1.30390 during the European session and started to slide.
Our forecast
USD/CAD: The US dollar continues to slide in this morning session. The pair currently trades at 1.30287 moving towards 1.29945 support in the 60 minutes time frame. The pair needs to hold at 1.29945 to maintain the current trend. The pair could fall to its 500 EMA at 1.29770 if it fails at 1.29945. The uptrend could continue if the US dollar breaks and hold above 1.30720
Support - 1.29945, 1.29770, and 1.29535
Resistance/Target - 1.30720, 1.31110, and 1.311290
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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