TRENDING:

XAU/USD

Silver

Insights for the Asian Forex trading session Thursday 11/10/2018

Denis Joeli Fatiaki Independent Analyst

Insights for the Asian Forex trading session Thursday 11/10/2018

* Australia Westpac Consumer Sentiment (October) - (Up1.0% from -3.0% the previous period)

* U.K. Gross Domestic Product (GDP) MoM - (Down to 0.0% from 0.1% forecast and 0.4% from the previous period)

* U.K. Industrial Production MoM (Aug) - (Up 0.2% from 0.1% forecast and 0.4% from the previous period)

* U.K. Manufacturing Production MoM (Aug) - (Down -0.2% from 0.1% forecast and -0.2% from the previous period)

* U.K. Trade Balance (Aug) - ( -11.20B from -10.90B forecast and -10.39B from the previous period)

* U.K. Trade Balance Non-EU (Aug) - (-4.22B from -3.10B forecast and -3.14B)

* U.S. Producer Price Index (PPI) MoM (Sep) - (0.2% from 0.2% forecast and -0.1% from the previous period)

Thursday's macro summary

* OPEC Monthly Report - 22.20 hrs

* ECB Publishes Account of Monetary Policy Meeting - 22.30 hrs

* U.S. Core Consumer Price Index (CPI) YoY (Sep) - 23.30 hrs

* U.S. Core Consumer Price Index (CPI) MoM (Sep) - 23.30 hrs

* U.S. Consumer Price Index (CPI) MoM (SeP) - 23.30 hrs

* U.S. Initial Jobless Claims - 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 reached its estimated target at 0.71220 in yesterdays session before retreating to 0.70935 during the overnight session. The pair continued down below 0.70935 in this mornings session after failing to hold.

Our forecast

AUD/USD: The Australian dollar currently trades at 0.70723 just above 0.70680 and might attempt to bounce at this point. If it fails to hold at 0.70680, then we expect the Australian dollar to continue down to 0.70560

Support - 0.70680,0.70560, and 0.70410

Resistance/Target - 0.70800, 0.70935, 0.71100, and 0.71220

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 broke through to1.15070 on its second attempt in yesterdays session; however it failed to continue and retreated to 1.14850 support. The Euro was successful on its third attempt during the European session and made it to its target price at 1.15370 before retreating to the bottom of the price channel in this mornings trades.

Our forecast

EUR/USD: The Euro currently trades at 1.15174 and might head down to the bottom of the price channel at 1.15070 before continuing its run to the upside. The pair is in a reasonable uptrend channel and might continue its run to the upside as long as it maintains within the price channel. The Euro needs to maintain above 1.15070 to avoid falling to 1.14850

Support- 1.15070,1.14850, and1.14670

Resistance/Target - 1.15370, 1.15560, and 1.15785

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 managed to maintain its position above 1.31435 in yesterdays session and continued to its estimated targets at 1.31785 and 1.32145 before retreating to 1.31785 in this morning's trades.

Our forecast

GBP/USD: The Pound did very well in the last two sessions holding on to its gains well above major technical price points. The pair currently trades at 1.31970 after bouncing at 1.31785 and heads back towards 1.32145. The pound could proceed to 132.500 if it holds above 1.32145. Support price points are estimated at 1.31435 and 1.31170.

Support -1.31785, 1.31435, and 1.31170

Resistance -1.32145, 1.32500, and 1.32795

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 held on to its position above its 500 EMA in yesterdays session and reached its estimated target at 113.300 before pulling back to its 500 EMA at 112.900 during the European session. The pair failed to hold at its 500 EMA at 112.900 and fell all the way down to 112.095 support.

Our forecast

USD/JPY: The US dollar is now down to 112.224 in this mornings session. The pair is currently attempting to break above 112.250 resistance to head back up to 112.385. The pair could continue down to 112.095 and 111.920 if it fails at 112.385.

Support -112.095, 111.920, and 111.720

Resistance/ target - 112.250, 112.385, 112.600, and 112.825

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 fell below its 500 EMA in the 60 minutes time frame in yesterdays session; however it was supported at 1.29365 and made its way back above its 500 EMA at 1.29535. The pair pierced through the price channel at 1.29770 and continued its run to 1.30390 during the European session.

Our forecast

USD/CAD: The US dollar broke through the top of the price channel in this mornings session and reached 1.30690 before retreating to 1.30390. The pair needs to hold above 1.30390 to continue to 1.30720. If it fails at 1.30390, then the pair might pull back into the price channel at 1.29445 before it makes its next move.

Support - 1.30390,1.29940, and 1.29770

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

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.