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  1. #211
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    Technical Overview of EUR/USD, AUD/USD and USD/JPY Currency Pairs

    EUR USD

    The EUR traded higher against the USD and closed at 1.136.

    Producer Price Index (PPI) m/m reflects an average change in goods selling prices from the producer perspective in Germany, in the reported month compared to the previous month. A higher than expected reading can be seen as positive for the euro quotes.

    According to the Analysis, The pair is expected to find support at 1.13307, and a fall through could take it to the next support level of 1.13017. The pair is expected to find its first resistance at 1.13952, and a rise through could take it to the next resistance level of 1.14309. Previous Day range was 64.5 and Current Day Range is 26.9.

    AUD USD

    The AUD traded a bit higher against the USD and closed at 0.7178.

    Existing Home Sales shows the amount of the secondary housing sales for the given month. Only closed deals are considered in the report.
    The report is used to evaluate the US real estate market.
    The indicator growth can have a positive effect on US dollar quotes.

    The pair is expected to find support at 0.71607, and a fall through could take it to the next support level of 0.71435. The pair is expected to find its first resistance at 0.71984, and a rise through could take it to the next resistance level of 0.72199.

    AUD/USD previous Day range was 38.2 and Current Day Range is 26.2.

    USD JPY

    The USD traded lower against JPY and closed at 112.509.

    The Energy Information Administration's (EIA) Crude Oil Stocks Change Indicator is published weekly. It measures the number of barrels of commercial crude oil held by US companies. It is one of the indicators affecting world oil prices.
    Growing crude oil stocks indicate a weaker demand for oil and can have a negative impact on the oil barrel price.

    According to the analysis, USD/JPY pair is expected to find support at 112.222, and a fall through could take it to the next support level of 111.931. The pair is expected to find its first resistance at 112.817, and a rise through could take it to the next resistance level of 113.132.

    USD/JPY previous day range was 6030 and current day range is 3930.
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  2. #212
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    Technical Overview of USD/CAD, GBP/USD and USD/JPY Currency Pairs

    USD CAD

    USDCAD.jpg

    The USD traded higher against the CAD and closed at 1.3484.

    In Canada, the organizations and people that affect the most the moves of the pair are:
    • Bank of Canada (BoC, Canada’s Central bank) that issues statements and decides on the interest rates of the country. Its president is Stephen Poloz.
    • Canadian Government (headed by Justin Trudeau) and its Department of Finance (whose minister is Bill Morneau) that implement policies that affect the economy of the country.
    • CAPP (Canadian Association of Petroleum Producers): Canada being a prominent oil and natural gas producer, the trade organization of that industry is very important.

    According to the Analysis, The pair is expected to find support at 1.34306, and a fall through could take it to the next support level of 1.33774. The pair is expected to find its first resistance at 1.35216, and a rise through could take it to the next resistance level of 1.35594. Previous Day range was 91 and Current Day Range is 30.1.


    GBP USD

    GBPUSD.jpg
    The British Pound traded a bit higher against the USD and closed at 1.2608.

    The FOMC's decision was unanimous, hiking rates by 25 basis points to 2.25% - 2.50%, repeating in the statement that risks to the economy appear 'roughly balanced' and will "continue to monitor economic and financial conditions for their effects on the economic outlook."

    The pair is expected to find support at 1.25840, and a fall through could take it to the next support level of 1.25600. The pair is expected to find its first resistance at 1.26543, and a rise through could take it to the next resistance level of 1.27006.

    GBP/USD previous Day range was 70.3 and Current Day Range is 25.


    USD JPY

    USDJPY.jpg
    The USD traded lower against JPY and closed at 112.47.

    The USD/JPY is barely moving after the Bank of Japan's (BOJ) status quo announcement. The Japanese central bank offered little hawkish or dovish surprises by keeping its short-term rate target at minus 0.1 percent and the 10-year yield target around zero percent under a policy dubbed yield curve control (YCC).
    Moreover, the BOJ is stuck between the rock and a hard place - maintaining current stimulus is proving costly, however, there is limited scope for policy normalization amid signs of global economic slowdown and ahead of next year's consumption tax hike.

    According to the analysis, USD/JPY pair is expected to find support at 112.155, and a fall through could take it to the next support level of 111.840. The pair is expected to find its first resistance at 112.720, and a rise through could take it to the next resistance level of 112.970.

    USD/JPY previous day range was 5650 and current day range is 3400.
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  3. #213
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    Technical Overview of AUD/USD, EUR/USD and USD/CAD Currency Pairs

    AUD USD


    The AUD traded higher against the USD and closed at 1.3484.

    Gross Domestic Product q/q (GDP) is a monetary valuation of all goods and services produced in the United States in the given quarter compared with the previous one minus the price of goods and services used in production.
    GDP growth can have a positive effect on dollar quotes.

    According to the Analysis, The pair is expected to find support at 0.70794, and a fall through could take it to the next support level of 0.70513. The pair is expected to find its first resistance at 0.71421, and a rise through could take it to the next resistance level of 0.71767. Previous Day range was 62.7 and Current Day Range is 20.2.


    EUR USD

    The EUR traded a bit higher against the USD and closed at 1.1446.

    France Gross Domestic Product (GDP) q/q reflects changes in the market value of domestically produced goods and services, in the reported quarter compared to the previous quarter. The GDP is calculated based on statistical information (using national economic indicators), forecast models and expert evaluations. GDP growth can have a positive effect on euro quotes.

    The pair is expected to find support at 1.3826, and a fall through could take it to the next support level of 1.13185. The pair is expected to find its first resistance at 1.14969, and a rise through could take it to the next resistance level of 1.15480.

    EUR/USD previous Day range was 114.3 and Current Day Range is 18.2.


    USD CAD

    The USD traded lower against CAD and closed at 1.3508.

    Canada Gross Domestic Product (GDP) m/m is the macroeconomic indicator of the national economy state. It reflects the value of all goods and services produced in all sectors of economy on the territory of Canada. The indicator shows the GDP change in the reported month compared to the previous one.
    GDP growth can have a positive effect on CAD quotes.

    According to the analysis, USD/CAD pair is expected to find support at 1.34592, and a fall through could take it to the next support level of 1.34106. The pair is expected to find its first resistance at 1.35433, and a rise through could take it to the next resistance level of 1.35788.

    USD/CAD previous day range was 84.1 and current day range is 15.7.
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  4. #214
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    Technical Overview of EUR/USD, USD/CHF and USD/JPY Currency Pairs

    EUR USD


    The EUR traded higher against the USD and closed at 1.1366.

    The New Home Sales indicator reflects sales of newly constructed residences in the United States in the specified month. It measures new single-family home sales.
    The indicator is used for measuring the US housing market conditions. Index growth may have a positive effect on dollar quotes.

    According to the Analysis, The pair is expected to find support at 1.13234, and a fall through could take it to the next support level of 1.12812. The pair is expected to find its first resistance at 1.14406, and a rise through could take it to the next resistance level of 1.15156. Previous Day range was 117.2 and Current Day Range is 30.6.


    USD CHF

    The USD traded a bit lower against the CHF and closed at 0.9955.

    KOF Switzerland Economic Barometer provides a composite economic outlook for the next six months. The indicator calculation formula includes about 200 statistical values. The list of variables is revised annually. The main criterion for selecting a variable is its influence on the national economy and business cycles.
    The indicator growth can have a positive effect on CHF quotes.

    The pair is expected to find support at 0.98922, and a fall through could take it to the next support level of 0.98289. The pair is expected to find its first resistance at 0.99877, and a rise through could take it to the next resistance level of 1.00199.

    USD/CHF previous Day range was 95.5 and Current Day Range is 17.6.


    USD JPY

    The USD traded lower against JPY and closed at 111.209.

    BOJ Governor Speech is an event having the greatest impact on JPY among all public statements made by the Japanese regulator. The Governor's rhetoric reflects the official position of the Bank of Japan.
    If some hints at tightening the monetary policy by the Bank of Japan are detected in the Governor speech, it may affect JPY positively.

    According to the analysis, USD/JPY pair is expected to find support at 110.946, and a fall through could take it to the next support level of 110.684. The pair is expected to find its first resistance at 111.463, and a rise through could take it to the next resistance level of 111.718.

    USD/JPY previous day range was 5170 and current day range is 2240.
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  5. #215
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    Technical Overview of EUR/USD, AUD/USD and USD/CAD Currency Pairs

    EUR USD

    EURUSD.jpg
    The EUR traded higher against the USD and closed at 1.1400.

    Jobseekers Total reflects the total number of unemployed French citizens registered with the National Employment Agency (Pôle emploi). Unemployment data is published at the end of the month. The indicator growth is usually accompanied with a decrease in the purchasing power of the population, which may have a negative effect on euro quotes.

    According to the Analysis, The pair is expected to find support at 1.13613, and a fall through could take it to the next support level of 1.13221. The pair is expected to find its first resistance at 1.14388, and a rise through could take it to the next resistance level of 1.14771. Previous Day range was 77.5 and Current Day Range is 29.


    AUD USD

    AUDUSD.jpg
    The AUD traded a bit higher against the USD and closed at 0.7041.

    Consumer Confidence Index displays the level of consumer confidence in the stability of the country's economy. It is based on the data from the monthly survey of more than 5000 households and is designed to evaluate the relative financial status, purchasing power and confidence of an average consumer. The survey consists of five questions, two of which are associated with the current economic conditions, while three deal with expectations. Since 60% of the survey has to do with expectations, the indicator is considered to be a leading market indicator. The indicator growth assumes an increase in consumer spending.

    The pair is expected to find support at 0.70721, and a fall through could take it to the next support level of 0.70128. The pair is expected to find its first resistance at 0.70621, and a rise through could take it to the next resistance level of 0.70828.

    AUD USD previous Day range was 35 and Current Day Range is 23.7.


    USD CAD

    USDCAD.jpg
    The USD traded higher against CAD and closed at 1.3598.

    According to the analysis, USD/CAD pair is expected to find support at 1.35697, and a fall through could take it to the next support level of 1.35417. The pair is expected to find its first resistance at 1.36206, and a rise through could take it to the next resistance level of 1.36435.

    USD/CAD previous day range was 50.9 and current day range is 34.2.
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  6. #216
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    Technical Overview of EUR/USD, AUD/USD and USD/JPY Currency Pairs

    EUR USD


    The EUR traded higher against the USD and closed at 1.1429.

    According to the Analysis, The pair is expected to find support at 1.13691, and a fall through could take it to the next support level of 1.13090. The pair is expected to find its first resistance at 1.14715, and a rise through could take it to the next resistance level of 1.15138. Previous Day range was 102.4 and Current Day Range is 40.1.


    AUD USD

    The AUD traded a bit higher against the USD and closed at 0.7041.

    The pair is expected to find support at 0.69798, and a fall through could take it to the next support level of 0.70036. The pair is expected to find its first resistance at 0.700643, and a rise through could take it to the next resistance level of 0.71012.

    AUD USD previous Day range was 60.7 and Current Day Range is 27.5.


    USD JPY

    The USD traded lower against JPY and closed at 110.96.

    According to the analysis, USD/JPY pair is expected to find support at 110.493, and a fall through could take it to the next support level of 110.027. The pair is expected to find its first resistance at 111.390, and a rise through could take it to the next resistance level of 111.821.

    USD/JPY previous day range was 8970 and current day range is 4860.
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  7. #217
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    Technical Overview of EUR/USD, AUD/USD and USD/CAD Currency Pairs

    EUR USD


    The EUR traded higher against the USD and closed at 1.1343.

    ADP Nonfarm Employment Change shows the monthly change in 19 manufacturing sectors in the United States. The indicator does not take agriculture into account. The calculation includes data collected from about 400 000 private enterprises.
    The indicator characterizes the labor market and industrial sector activity. Employment growth can have a positive effect on dollar quotes.

    According to the Analysis, The pair is expected to find support at 1.12801, and a fall through could take it to the next support level of 1.12176. The pair is expected to find its first resistance at 1.14507, and a rise through could take it to the next resistance level of 1.15588. Previous Day range was 170.6 and Current Day Range is 61.6.

    AUD USD

    The AUD traded a bit lower against the USD and closed at 0.6984.

    ISM Manufacturing PMI reflects business conditions in the US manufacturing sector in the specified month. The indicator is based on a survey of representatives from more than 400 companies. Unlike Markit, ISM considers not only private companies but is based on the common NAICS (North American Industrial Classification System) list. The questionnaire considers employment, production level, inventories, new orders and supplier deliveries.

    Readings above 50 can have a positive effect on US dollar quotes.

    The pair is expected to find support at 0.69596, and a fall through could take it to the next support level of 0.69351. The pair is expected to find its first resistance at 0.70303, and a rise through could take it to the next resistance level of 0.70765.

    AUD USD previous Day range was 70.7 and Current Day Range is 223.6.

    USD CAD

    The USD traded higher against CAD and closed at 1.3577.

    Canada Employment Change shows a change in the number of officially employed Canadians in the reported month.
    The indicator is used when measuring Canada's labor market. The indicator growth can have a positive effect on CAD quotes.
    According to the analysis, USD/CAD pair is expected to find support at 1.35433, and a fall through could take it to the next support level of 1.35094. The pair is expected to find its first resistance at 1.36367, and a rise through could take it to the next resistance level of 1.36962.

    USD/CAD previous day range was 93.4 and current day range is 71.8.
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  8. #218
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    Technical Overview of NZD/USD, AUD/USD and EUR/USD Currency Pairs

    NZD USD


    The NZD traded higher against the USD and closed at 0.6736.

    Factory Orders m/m show the changes in the volume of orders for durable and non-durable goods received by US companies in the given month compared to the previous one. This is a composite indicator including new industrial orders for durable and non-durable goods; orders unfilled by the end of a month; shipments (indicating the current sales); total reserves of raw materials and products by the end of the given month.

    The indicator growth can have a positive effect on dollar quotes.

    According to the Analysis, The pair is expected to find support at 0.66880, and a fall through could take it to the next support level of 0.66397. The pair is expected to find its first resistance at 0.67681, and a rise through could take it to the next resistance level of 0.67999.

    Previous Day range was 80.1 and Current Day Range is 29.1.


    AUD USD

    The AUD traded a bit higher against the USD and closed at 0.7117.

    ISM Non-Manufacturing PMI reflects activity in the US service sector in the reporting month. The indicator is based on a survey of representatives from more than 400 companies. Unlike Markit, ISM considers not only private companies but is based on the common NAICS (North American Industrial Classification System) list.

    Readings above 50 can have a positive effect on US dollar quotes.

    The pair is expected to find support at 0.70326, and a fall through could take it to the next support level of 0.69477. The pair is expected to find its first resistance at 0.71631, and a rise through could take it to the next resistance level of 0.72087.

    AUD USD previous Day range was 130.5 and Current Day Range is 28.5.


    EUR USD

    The EUR traded higher against USD and closed at 1.1396.

    Retail Sales m/m reflect a change in the euro area retail sails in the reported month compared to the previous one. The calculation is adjusted for inflation.
    The index is often called the consumer spending indicator and allows assessing inflation in the euro area.
    The indicator growth can have a positive effect on the euro quotes.

    According to the analysis, EUR/USD pair is expected to find support at 1.13552, and a fall through could take it to the next support level of 1.13147. The pair is expected to find its first resistance at 1.14273, and a rise through could take it to the next resistance level of 1.14589.

    EUR/USD previous day range was 72.1 and current day range is 34.3.
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  9. #219
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    Overview of Gold: $1,300 Break Remains Indefinable Despites the Weak tone in US Dollar

    XAU traded a bit lower against USD and closed at 1288.78.

    • Gold picked up a bid on Monday, tracking the weak spot in the US dollar, but the bull momentum ran out of steam at $1,295.
    • The dollar index (DXY) fell to 2.5-month lows below the 100-day MA.
    • The yellow metal is still struggling to break past $1,300.
    • $1,276 is the level to beat for the bears.

    According to the Analysis, The XAU/USD.X pair is expected to find support at 1282.62, and a fall through could take it to the next support level of 1276.47. The pair is expected to find its first resistance at 1294.99, and a rise through could take it to the next resistance level of 1301.21. Previous Day range was 12.37 and Current Day Range is 7.69.

    The yellow metal failed to cross the psychological barrier of $1,300 on Friday and carved out a bearish-lower high of $1,288 yesterday, despite the drop in the US dollar - gold's biggest retribution.
    Notably, the dollar index found acceptance below the 100-day moving average (MA) yesterday and fell to 95.64 - a level last seen on Oct. 22.
    The greenback is indeed on the defensive, having closed below the 100-day MA for the first time since Sept. 27 amid dovish Fed expectations.
    The yellow metal is still struggling to pick up a strong bid. As of writing, it is reporting moderate losses at $1,286 per Oz. Gold's inability to capitalize on DXY's break below the 100-day MA likely indicates the bulls are facing exhaustion.

  10. #220
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    Overview of Crude Oil: WTI Continues to Climb on Trade Hopes

    US Oil – also known as West Texas Intermediate (WTI) and Texas Sweet Light – is another type of ‘sweet light’ crude oil, that has a lower sulphur content and density than UK Oil. It is drilled in North America, primarily in Texas, Louisiana and North Dakota, and sent via pipeline to Cushing, Oklahoma for price settlement. As this is a landlocked area, most WTI oil is consumed in the US, making this the primary benchmark for the US market.

    According to the analysis, USOil.x pair is expected to find support at 48.95, and a fall through could take it to the next support level of 47.89. The pair is expected to find its first resistance at 50.60, and a rise through could take it to the next resistance level of 51.89.

    USOil.x previous day range was 16500 and current day range is 9000.

    • US-China trade talks continue, and markets continue to bid up on hopes of progress.
    • Commodities are catching a relief run on hopes of improving trade, after a tense ending to 2018.

    Crude energies markets are continuing to spin higher as investors hope for peaceful trade talks to resolve between the US and China, which are at present underway at the vice-ministerial level, extending into a third day of talks with traders awaiting announcements following the trade meetings. Trade tensions between the US and China have spun out broader market sentiment in recent months, and investors are looking for any signs of a recovery in global trade in order to offset the increasing signs of economic slowdown across the planet for 2019.

    The Energy Information Administration's (EIA) Crude Oil Stocks Change Indicator is published weekly. It measures the number of barrels of commercial crude oil held by US companies. It is one of the indicators affecting world oil prices.

    Growing crude oil stocks indicate a weaker demand for oil and can have a negative impact on the oil barrel price.
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