TRENDING:

Trade War

XAU/USD

Insights for the Asian trading session

Denis Joeli Fatiaki Independent Analyst

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

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 struggles near 1.1850, with all eyes on US CPI data

EUR/USD holds losses while keeping its range near 1.1850 in European trading on Friday. A broadly cautious market environment paired with a steady US Dollar undermines the pair ahead of the critical US CPI data. Meanwhile, the Eurozone Q4 GDP second estimate has little to no impact on the Euro.

GBP/USD recovers above 1.3600, awaits US CPI for fresh impetus

GBP/USD recovers some ground above 1.3600 in the European session on Friday, though it lacks bullish conviction. The US Dollar remains supported amid a softer risk tone and ahead of the US consumer inflation figures due later in the NA session on Friday.

Gold remains below $5,000 as US inflation report looms

Gold retreats from the vicinity of the $5,000 psychological mark, though sticks to its modest intraday gains in the European session. Traders now look forward to the release of the US consumer inflation figures for more cues about the Fed policy path. The outlook will play a key role in influencing the near-term US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.

US CPI data set to show modest inflation cooling as markets price in a more hawkish Fed

The US Bureau of Labor Statistics will publish January’s Consumer Price Index data on Friday, delayed by the brief and partial United States government shutdown. The report is expected to show that inflationary pressures eased modestly but also remained above the Federal Reserve’s 2% target.

The weekender: When software turns the blade on itself

Autonomous AI does not just threaten trucking companies and call centers. It challenges the cognitive toll booths that legacy software has charged for decades. This is not a forecast. No one truly knows the end state of AI.

Solana Price Forecast: Mixed market sentiment caps recovery

Solana (SOL) is trading at $79 as of Friday, following a correction of over 9% so far this week. On-chain and derivatives data indicates mixed sentiment among traders, further limiting the chances of a price recovery.