Denis Joeli Fatiaki
Independent Analyst
Insights for the Asian Forex trading session Friday 9/11/2018
* AUD/USD: Australian dollar stalled at 0.72990; critical support at 0.7600
* GBP/USD: British Pound slipped below 1.31000 and now attempts to defend its position at 1.30460
* EUR/USD: Euro slipped below 1.14050 and now and attempts to regain control at 1.13600
* USD/JPY: US dollar reached another target at 114.070; the next target is at 114.240
* USD/CAD: US dollar retrace to 1.31535 following a snap burst to the upside; critical support at 1.31445
** Switzerland Unemployment Rate n.s.a. - (2.4% vs 2.4% forecast)
** Switzerland Unemployment Rate s.a. - (2.5% vs 2.5% forecast)
** Germany Trade Balance - Down 17.6B vs 18.0B forecast
** Canada Housing Starts - Up 205.9K vs 200.0K forecast
*** U.S. Federal Open Market Committee (FOMC) Statement- 06.00 hrs
*** U.S. Fed Funds Target Rate - 06.00 hrs
Fridays critical macro summary
** Australia Home Loans MoM - 11.30 hrs
** China Consumer Price Index (CPI) MoM - 12.30 hrs
** China Consumer Price Index (CPI) YoY - 12.30 hrs
** China Producer Price Index (PPI) YoY - 12.30 hrs
** U.K. Exports QoQ - 20.30 hrs
*** U.K. Gross Domestic Product (GDP) YoY - 20.30 hrs
*** U.K. Gross Domestic Product (GDP) MoM - 20.30 hrs
*** U.K. Gross Domestic Product (GDP) QoQ - 20.30 hrs
** U.K. Industrial Production MoM - 20.30 hrs
*** U.K. Manufacturing Production MoM (Sep) - 20.30 hrs
*** U.K. Monthly Gross Domestic Product (GDP) 3M/3M Change - 20.30 hrs
** U.K. Trade Balance (Sep) - 20.30 hrs
** U.K. Trade Balance Non-EU (Sep) - 20.30 hrs
*** U.S. Producer Price Index (PPI) MoM (Oct) - 00.30 hrs
The FX Majors Current positions and its future forecast
What is going on now with AUD/USD?
AUD/USD: The Australian dollar fell in yesterdays session but only up to 0.72600 support. The pair bounced and headed back up during the European session only to be pushed back down at 0.72990 resistance. The pair failed again on its third attempt to cross over at 0.72990 and fell to 0.72788.
Our forecast
AUD/USD: The Australian dollar currently trades at 0.72820 and still needs to break and maintain above 0.72990 to continue to the upside. The pair could continue down to its previous support at 0.72600 if it fails to continue at 0.72990. A break below 0.72600 could push the pair further down to 0.72520 and 0.72365 support.
Support/ Short - 0.72600, 0.72520, 0.72365, and 0.72105
Resistance/ Long - 0.72990, 0.73223, 0.73345, and 0.73535
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 Pound remained under 1.31375 during the Asian session in yesterdays trades. The pair attempted to cross over at 1.31375 during the European session but failed and was pushed back down to 1.31000 support. The Pound slipped below 1.31000 support and fell to 1.30457 support in this mornings session.
Our forecast
GBP/USD: The Pound is currently trading at 1.30563 and needs to maintain above 1.30460 to head back up to 1.30670 and 1.31000. The pound could continue down to its 500 EMA at 1.29900 if it fails to maintain above 1.30457
Support/ short Target - 1.30460, 1.29900, 1.29695, and 1.29440
Resistance/ Long Target - 1.30670, 1.3100, and 1.31375
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 fell below 1.14280 and bounced at 1.14050 during the Asian session, but failed at its 500 EMA and fell to 1.14050 during the European session. The pair slipped below 1.14050 in this mornings session and fell to 1.13600 support.
Our forecast
EUR/USD: The Euro has fallen further into negative territory following its pullback in this mornings session. The Euro currently trades at 1.13604 and needs to break and maintain above 1.13710 to head back up. The pair could continue further down to 1.13420 and 1.13165 if it fails to maintain above 1.13600
Support/short target -1.13600, 1.13420, and 1.13165
Resistance/Long Target -1.13710, 1.13820, 1.13945, and 1.14050
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 broke through 113.485 as indicated in yesterdays session and reached my estimated long target at 113.710. The US dollar continued to the upside and reached my second long target at 114.070 in this mornings session.
Our forecast
USD/JPY: The US dollar has taken out two major target points since breaking into bullish territory and continues to build momentum to the upside. However, The US dollar needs to break and maintain above 114.070 to continue to 114.240. The next medium-term target is estimated at 114.565. The US dollar could pull back to 113.850 and 113.710 if it fails to continue at 114.070.
Support/Short - 113.850, 113.710, 113.560, and113.485
Resistance/ Long - 114.070, 114.240, 114.380, and 114.565
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 to 1.30925 support in yesterdays session after failing to maintain above 1.31110 support. The pair made attempts to head back up but failed at 1.31110 and pulled back to 1.30925 support. The US dollars break occurred this morning after FOMC interest rate announcement/statement. The US dollar exploded from 1.30925 support and reached 1.31775 resistance before pulling back to 1.31535 support
Our forecast
USD/CAD: The US dollar has fallen below 1.31535 support and is now heading down towards 1.31445 support. The US dollar could react to two major support points at 1.31445 and 1.31255 as it continues to fall. The pair might attempt to bounce at 1.31445 to head back up. If it fails then, the pair could continue down to 1.31225.
Support/Short Target -1.31445, 1.31355, 1.31255, and 1.31110
Resistance/Long Target -1.31535, 1.31620, and 1.31775
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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