Denis Joeli Fatiaki
Independent Analyst
Insights for the Asian Forex trading session Wednesday 21/11/2018
*** AUD/USD: Australian dollar looks for support at its 500 EMA
*** GBP/USD: Pound attempts to secure its position at 1.27685
*** EUR/USD: Euro needs to break above 1.13820 to head back up
*** USD/JPY: US dollar bounced at 112.305 and headed towards critical resistance at 112.900
***USD/CAD: US dollar could pull back to 1.32365 before continuing to the upside
*** U.S. Building Permits - Up 1.263M vs 1.260M forecast
** U.S. Housing Starts (Oct)- Up 1228M vs 1225M forecast
The FX Majors Current positions and its future forecast
What is going on now with AUD/USD?
AUD/USD: The Australian dollar's recovery has been cut short as It continued its sell-off in the overnight session. The pair made numerous attempts to head back up at 0.72990 but failed and continued its run down to its 500 EMA at 0.72115 in this mornings session.
Our forecast
AUD/USD: The Australian dollar is currently trading at 0.72197 and needs to secure its position above its 500 EMA at 0.72145 to head back up. If it fails at 0.72145, then the pair could continue down to 0.71980 and 0.71745.
Support/short target - 0.72145,0.71980, 0.71745, and 0.71580
Resistance/Long Target-0.72365, 0.72520, 0.72600, and 0.72835
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 GBP/USD?
GBP/USD: The British Pound slipped below 1.28480 support and fell against the strong US dollar during the European session. The pair continued down in this mornings session to around 1.27685 support but appeared to be settling down around the current support.
Our forecast
GBP/USD: The Pound currently trades at 1.27855 and could head back up to 1.28065 and 1.28480 if it maintains above 1.27685. The Pound could continue down to 1.27245 if it fails at 1.27685.
Support/ Short-1.27685, 1.27245, and 1.26965
Resistance/ Long - 1.28065, 1.28480, and 1.28845
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 EUR/USD?
EUR/USD: The Euro held on above 1.14465 support in yesterdays session and reached 1.14670 but failed to continue to the upside and fell to 1.14280. The pair slipped below 1.14280 during the European session and continued down to 1.13600 support in this morning's trades.
Our forecast
EUR/USD: The Euro currently trades at 1.13702 and could head back up to its 500 EMA at 1.13945 if it crosses the resistance at 1.13820. The pair could continue to 1.14160 if it holds above its 500 EMA. The pair could also continue down to 1.13420 and 1.13275 if it fails at 1.13600
Support/short - 1.13600, 1.13420, and 1.13275
Resistance/Long - 1.13820, 1.13945, and 1.14160
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 USD/JPY?
USD/JPY: The US dollar slipped twice below 112.425 support in yesterdays session but bounced at 112.305 and returned to 112.425. The US dollar bounced at 112.425 support in its second attempt during the European session and managed to push through 112.600 in this morning's trades.
Our forecast
USD/JPY: The US dollar could continue to its next challenge at 112.900 if it maintains above 112.600 support. The pair could also continue further to its 500 EMA at 113.195 if it remains above 112.900. The US dollar could head back down to its previous support at 112.425 if it fails at 112.600 support.
Support/short target - 112.600, 112.425, 112.305, and 112.120
Resistance/Long Target-112.900, 113.195, 113.310, and 113.485
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 1.31620 support and broke through 1.32025, scoring a great run during the overnight session. The pair broke through two significant resistance at 1.32340 and 1.32635 before reaching 1.33165 in this morning's trades.
Our forecast
USD/CAD: The US dollar has retreated from this mornings highs at 1.33165 and currently trades at 1.32970. The pair might retreat to 1.32365 before making its next move. The US dollar needs to break and maintain above 1.33165 to continue to 1.33485.
Support/Short Target -1.32875, 1.32635, and 1.32340
Resistance/Long Target -1.33165, 1.33485, and 1.33685
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 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/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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