Friday, January 31, 2020

forex Canada November GDP 1/31

Canada's stronger-than-expected November GDP report makes an interest-rate cut look less likely in the near term, Capital Economics says. Statistics Canada reported a slight 0.1% advance in November GDP from the previous month, surpassing market expectations for a flat reading. CapEcon's Stephen Brown anticipates the December data will show at least a 0.2% monthly gain, which he said should be enough to convince policy makers their fears of a further slowdown are unwarranted. That kind of advance in December "will ensure the Bank keeps policy on hold in the coming months

Silver Ounce 1/31



The following assumptions that have been made:
- At least 20 pip forecast
- The key level and chart pattern were at most 5 candles apart at time of identification
 



Symbol : COMP Silver Ounce (USD)   

Direction :
Identified time : 2020-01-31 16:03 GMT
Breakout price : 18.0504
Forecast price : 18.49112
Forecast pips : 44
Probability : 64.55 %
Pattern : Double Bottom
Interval : 30 Min

Pattern : Resistance
Interval : 30 Min

Thursday, January 30, 2020

forex chart GBP/JPY 1/30



The following assumptions that have been made:
- At least 20 pip forecast
- The key level and chart pattern were at most 5 candles apart at time of identification
 



Symbol : GBPJPY   

Direction :
Identified time : 2020-01-31 01:01 GMT
Breakout price : 142.866
Forecast price : 143.13151
Forecast pips : 27
Probability : 64.16 %
Pattern : Ascending Triangle
Interval : 30 Min

Pattern : Resistance
Interval : 30 Min

Wednesday, January 29, 2020

US Dollar 1/29

The US Dollar strengthened against the Euro and British Pound overnight but eased slightly against the Japanese Yen and Swiss Franc, both boosted by haven flows. It left the Dollar Index futures almost unchanged at New York’s close.

In the developing market space, local Asian currencies continue to hold their own for now, despite concerns about a Wuhan virus-induced slowdown in the region. The retreat in regional currencies has been more of a slow grind than a full-blown charge for the exit, perhaps reflecting the currency market’s preference for more information on the evolution of the Wuhan virus situation. It also reflects the lack of extreme positioning evident in equity and bond markets.

USD/CNH continues to trade around 6.9800, unable or unwilling to test, and or break, the pivotal 7.0000 level. That implies that official selling interest lies in wait up here, helping to “calm” things.

Overall, US Dollar strength is expected to continue, boosted by yields and haven flows into US treasuries.

forex chart USD/INR 1/29



The following assumptions that have been made:
- At least 20 pip forecast
- The key level and chart pattern were at most 5 candles apart at time of identification
 



Symbol : USDINR   

Direction :
Identified time : 2020-01-29 15:01 GMT
Breakout price : 71.344
Forecast price : 71.435
Forecast pips : 910
Probability : 59.77 %
Pattern : Triangle
Interval : 60 Min

Pattern : Resistance
Interval : 60 Min

Tuesday, January 28, 2020

USD/MXN 1/28



The following assumptions that have been made:
- At least 20 pip forecast
- The key level and chart pattern were at most 5 candles apart at time of identification
 



Symbol : USDMXN   

Direction :
Identified time : 2020-01-28 13:01 GMT
Breakout price : 18.8251
Forecast price : 18.77344
Forecast pips : 52
Probability : 60.88 %
Pattern : Triangle
Interval : 30 Min

Pattern : Triangle
Interval : 60 Min

Monday, January 27, 2020

Brazilian

The Brazilian real weakened to 4.22 per dollar, from 4.17 per dollar on Friday. Economist Andre Perfeito, from Necton brokerage, says it will end the year at 4.30 per dollar. He points to deteriorating current account balance released today by the central bank showing a shrinking trade surplus that could worsen if the economy rebounds, as expected. Perfeito says the depreciation stems also from historic low interest rates in Brazil, which make the real less attractive for carry trade. Perfeito notes, however, that the central bank's robust $357 billion foreign-currency reserves can avoid a full-blown crisis.

Sunday, January 26, 2020

Forex charts for 1/27


USD/JPY 1st support - 107.65 (major) 1st resistance - 110.25 (major) 2nd support - 106.45 (major) 2nd resistance - 111.00 (major) USD/JPY (last 108.87): The pair, as shown on a daily chart, has breached the key support at 108.85 turning the short-term outlook bearish. Currently it has returned to levels below both 20-day and 50-day moving averages, as the relative strength index is badly directed in the 40s showing strong downward momentum for the pair. Unless the key resistance at 110.25 is surpassed, the pair should target 107.65 and 106.45 on the downside.

  EUR/USD 1st support - 1.0980 (major) 1st resistance - 1.1160 (major) 2nd support - 1.0880 (major) 2nd resistance - 1.1240 (major) EUR/USD (last 1.1030): The pair has posted a bearish pattern of lower highs while striking against the lower Bollinger band, calling for acceleration to the downside. The descending 20-day moving average has just crossed below the 50-day one, helping to maintain short-term bearishness. Trading below the key resistance at 1.1160, the pair should sink toward 1.0980 and 1.0880 on the downside.

AUD/USD 1st support - 0.6750 (major) 1st resistance - 0.6900 (major) 2nd support - 0.6670 (major) 2nd resistance - 0.6950 (major) AUD/USD (last 0.6808): The pair keeps striking against the lower Bollinger band calling for acceleration to the downside. Meanwhile, it remains capped by the descending 20-day moving average, which has crossed below the 50-day one. Therefore, the short-term technical configuration continues to be very bearish. The trailing key resistance has been lowered to 0.6900. Trading below this level, the pair should fall toward 0.6750 and 0.6670 on the downside.

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Friday, January 24, 2020

forex GBP/JPY chart 1/24



The following assumptions that have been made:
- At least 20 pip forecast
- The key level and chart pattern were at most 5 candles apart at time of identification
 



Symbol : GBPJPY   

Direction :
Identified time : 2020-01-24 16:02 GMT
Breakout price : 143.001
Forecast price : 142.56182
Forecast pips : 44
Probability : 62.75 %
Pattern : Descending Triangle
Interval : 60 Min

Pattern : Support
Interval : 60 Min