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10/06/2021 3:22 am  #221


Re: XtreamForex Daily Technical Analysis

EUR/USD struggles for a clear direction within a bearish chart pattern

In general, EUR/USD is moving downwards. As of late, EUR/USD bounced off the resistance zone of 1.16300. The danger is slanted to the disadvantage, as per the day-by-day chart, as specialized pointers have continued their decays after revising outrageous oversold readings. Simultaneously, the pair continues to foster well beneath its moving midpoints as a whole, with the 20 SMA keeping a solidly negative slant more than 100 pips over the current level.

Presently, EUR/USD is trying to break beneath the vital resistance of 1.16. Its next support zone is at 1.15000 and the following resistance zone is at 1.16300. Search for selling chances of EUR/USD if it breaks beneath the vital resistance of 1.16.

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10/07/2021 2:36 am  #222


Re: XtreamForex Daily Technical Analysis

EUR/USD seesaws around mid-1.1500s in the Asian session

The EUR/USD pair combines losses toward the finish of the American meeting, at levels last found in July 2020. The decrease could keep as per specialized readings in the everyday graph, as markers keep up with their negative slants, with the RSI inside oversold readings. The 20 SMA continues to speed up south beneath the more extended ones or more the current cost, showing significant selling interest. In general, EUR/USD is moving downwards.

As of late, EUR/USD broke underneath the vital resistance of 1.16. EUR/USD’s next support zone is at 1.15000 and the following resistance zone is at 1.16300. Search for momentary selling chances of EUR/USD.

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10/11/2021 2:56 am  #223


Re: XtreamForex Daily Technical Analysis

EUR/USD flirts with short-term resistance below 1.1600

Generally speaking, EUR/USD is moving downwards. The US Nonfarm Payrolls report showed that the nation added simply 194K positions in September. Opinions flipped from negative to positive, with mobilizing values harming the dollar. EUR/USD solidifies losses close to its 2021 low, has space to expand its droop. Furthermore testing the pair’s potential gain moves is the region involving September 22-23 lows near 1.1680-85. Then again, the expressed support close 1.1550 confines momentary decreases of the EUR/USD in front of the new multi-month low of 1.1529. EUR/USD’s next support zone is at 1.15000 and the following resistance zone is at 1.16300. Search for transient selling chances of EUR/USD up until the arrival of the U.S. Non-Farm Payroll occupations report later at 2030 (GMT+8).

GBP/USD has corrected into a critical daily resistance following the last September

On the four-hour outline, GBP/USD is trying the climbing pattern line coming from late September. With a break underneath that help, the pair could expand its slide toward 1.3550 (50-period SMA) in front of 1.3500 (mental level). On the potential gain, the underlying obstacle is situated in the 1.3630/40 region, where the 100-time frame SMA builds up the static opposition. Just a day-by-day close past that level could be viewed as a bullish improvement that is probably going to make ready for a more grounded bounce back toward 1.3720 (200-period SMA). After contacting a day-by-day high of 1.3640, GBP/USD turned around its course and was losing 0.2% on the day at 1.3590 at the hour of the press. Hazard streams offered help to the GBP while covering the dollar’s potential gain yet financial backers appear to have taken a careful position in front of the basic US September occupations report.

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Last edited by xtreamforex (10/11/2021 2:57 am)

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10/12/2021 2:26 am  #224


Re: XtreamForex Daily Technical Analysis

Xtreamforex Forex Market Update: Australian weekly survey of consumer sentiment 105.6

It was a meeting of minor moves after the occasion Monday in North America (US stock trades were open) … which was a sorry occasion for business sectors with enormous FX moves and some value falls.

Forex development here during Asia has been substantially more restricted with little ranges overall and not a ton of net change.

The news and information stream was not enormous either but rather there were some outstanding turns of events (that didn’t move FX as verified previously).

Japan discount swelling hit a 13-year high, this turns up the pressure on industry benefits as costlier information costs are not being given to shoppers (CPI stays incurable). This will burden business CAPEX ahead, fewer benefits mean less yen to spend on business speculation.

Business trust in Australia in September bobbed emphatically, offset by a fall in business conditions. The ‘conditions’ measure is estimated more dispassionately than the certainty feeling.

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10/13/2021 1:48 am  #225


Re: XtreamForex Daily Technical Analysis

EUR/USD is trading above 1.1550, extending the bounce from yearly lows of 1.1524

Generally speaking, EUR/USD is moving downwards. The EUR/USD pair exchanges a small bunch of pips over the referenced 2021 low, down for a second successive day. Specialized readings in the day-by-day outline favor another leg lower as the pair grows well underneath immovably negative moving midpoints. Simultaneously, specialized pointers stay inside bad levels, with the RSI continuing its decay inside oversold readings. G20 gatherings will be held today. EUR/USD’s next support zone is at 1.15000 and the following resistance zone is at 1.16300. Search for transient selling chances of EUR/USD up until the arrival of the gathering minutes by the FOMC tomorrow at 0200 (GMT+8).

GBP/USD faces strong resistance near 1.3650 inside the symmetrical triangle.

GBP/USD is moving downwards. G20 gatherings will be held today. The close term specialized standpoint for GBP/USD appears to have turned negative with the pair breaking underneath the rising pattern line coming from late September. Also, GBP/USD is trading beneath the 50-time frame SMA on the four-hour chart and the Relative Strength Index (RSI) marker is pushing lower toward 40. Right now, GBP/USD is trying the resistance zone of 1.36000 and the following support zone is at 1.34000. On the off chance that GBP/USD rejects the resistance zone of 1.36000, search for transient selling openings up until the arrival of the gathering minutes by the FOMC tomorrow at 0200 (GMT+8).

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10/14/2021 1:27 am  #226


Re: XtreamForex Daily Technical Analysis

Xtreamforex Asia session news wrap: Bank of Japan Governor Kuroda says (US) inflation is transitory

USD/JPY rose from lows just shy of 113.25 to highs above 113.50 during the meeting here in Asia, Not a huge reach yet outstanding in the midst of the smaller ranges somewhere else in all cases.

The News stream was light yet we had a lot of information stream, the majority of the attention on the Australian positions market report for September and Chinese CPI and PPI, likewise for September.

The Australian work market report showed a bigger than anticipated number of employment misfortunes in the month and a higher joblessness rate. Interest fell forcefully. Hours worked rose. In short a mishmash yet dispassionately a more terrible instead of better report. It was to a great extent disregarded as a proceeding with the effect of lockdowns covering almost 50% of Australia’s populace. Further, both of the states affected are in transit towards resuming, NSW having started more rapidly than Victoria’s. In this way, assumptions are of a Q4 economic skip back and better information stream ahead. AUD/USD is down around 15 focuses from its pre-information meeting high. RBA Deputy Governor Debelle talked before in the meeting yet with very little effect (the perspectives on the RBA are notable at this point, tightening ahead however no rate rise conjecture until 2024).

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Last edited by xtreamforex (10/14/2021 1:27 am)

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10/18/2021 2:15 am  #227


Re: XtreamForex Daily Technical Analysis

EUR/USD, GBP/USD, USD/JPY & XAU/USD Affected!

EUR/USD remains pressured towards 1.1600 amid rising Treasury yields

At the hour of the press, EUR/USD trades a generally close reach of around 1.1600. The 100-period SMA on the four-hour outline and the Fibonacci 23.6% retracement of the downtrend that began toward the beginning of September appears to have framed intense opposition in the 1.1615-20 region. If the pair transcends that level and starts utilizing it as help, 1.1670 (Fibonacci 38.2% retracement) could be viewed as the following objective in front of 1.1700/10 region (mental level, Fibonacci half retracement, 200-period SMA). On the drawback, 1.1570 (50-period SMA, 20-period SMA) could be viewed as the main help before 1.1525 (15-month low) and 1.1500 (mental level).

GBP/USD contains above 1.3750 amid USD weakness

GBP/USD shut the keep going candle on the four-hour outline over the 200-period SMA and is right now testing the upper line of the climbing relapse channel coming from late September at 1.3740. Albeit the close term, specialized viewpoint stays bullish, the Relative Strength Index (RSI) marker is, by and by, surrounding the overbought region. On Thursday, the pair organized a 60-pip amendment after the RSI contacted 70 and a comparative response could be anticipated. 1.3750 (September 23 high) adjusts as the following opposition before the pair could target 1.3800 (mental level).

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10/19/2021 2:20 am  #228


Re: XtreamForex Daily Technical Analysis

EUR, JPY, GBP & XAU Saw a Market Retracement

EUR/USD is trading close to 1.1650, recovering ground to clinch three-week highs

The EUR/USD pair is trading at around the 23.6% retracement of its most recent everyday droop, estimated at 1.1908 and the year low at 1.1523. As per the everyday graph, the bullish potential is still very much restricted. An immovably negative 20 SMA continues to cover the potential gain, while the more drawn-out moving midpoints keep up with their negative slants well over the more limited one. Specialized markers are recuperating some ground with lopsided strength however holding inside regrettable levels, recommending a remedial stage as opposed to affirming a potential base. The 4-hour chart shows that the pair is over its 20 and 100 SMAs, with the more limited one going to cross over the more one.

GBP/USD: Upside needs validation above the descending trendline near 1.3780

On the daily chart, the GBP/USD pair has been in a consistent descending pattern since the high made on July 30 at 1.3983. The dropping trendline from the referenced level goes about as a solid obstruction for GBP/USD. The spot exchanges over the 50-day Simple Moving Average (SMA) at 1.3716 make bulls confident of some recuperation. On the off chance that the pair supports the intraday high alongside the break of the negative sloping line that would mean GBP/USD bulls can test the mental 1.3800 imprints. A fruitful break of the 100-day SMA at 1.3812 could clear the way for the 1.3850 even obstruction level.

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10/20/2021 2:24 am  #229


Re: XtreamForex Daily Technical Analysis

Mexican Peso Improves as USD/MXN Degrades and EMFX Became Strong

USD/MXN was high for the previous six months till it got near 20.90 last week. It was a major breakdown for the currency pair, as nobody expected it because of its amazing performance in the past. It was challenging because energy prices went down in the US but there is a significant help provided by the start of the quarterly earnings season as the corporate profits have helped the dollar to get strong easily.

There is a solid bounce in the US equities along with the S & P 500 and Nasdaq 100 for nearly 6% and 7% from their monthly lows, even after the concerns about the fed policy normalization. EMFX works fine when things are going well on Wall Street and traders are also confident about doing risky trades that will give them the potential income they want. If the United States stocks perform well and the treasury curve becomes as per order, the Mexican peso will stand in a dominant position to fight against the US dollar.

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Last edited by xtreamforex (10/20/2021 2:24 am)

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10/22/2021 1:26 am  #230


Re: XtreamForex Daily Technical Analysis

USD/TRY Increases When Turkish Central Bank Delivers an Unexpected Large Cut

USD/TRY has increased when central banks have released a large cut. It’s seen that the Turkish central bank has cut down the rates that it uses to lend money to commercial banks in the event of a paucity of funds. They have cut it to 16% that including 200bps mark that is unexpected by the Turkish government officials. Its shocking news that comes straight from the market as they only used to cut it to 50-100bps in the past. Not to ignore that this cut has arrived in the middle of the atmosphere where there is inflation pressure rose on the Turkish government.

Inflation has occurred as the currency of Turkey (USD/TRY) is not strong and the EM central banks have a tight policy regarding their rules. The present president of Turkey Mr. Recep Tayyip Erdogan has suggested the staff to lower the interest rates so the inflation rates are also get lowered automatically. However, this may not be the right step taken by the government in this situation no matter the Turkish central bank is finding it comfortable. Things should be changed soon to improve the Turkish lira.

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10/25/2021 3:29 am  #231


Re: XtreamForex Daily Technical Analysis

Canadian Dollar Dropped its Growth, Traders Waiting for Bank of Canada Statements

Traders are waiting for the bank of canada’s statement over the CAD. The Canadian dollar that was moving with high strength has dropped its progress in the last week of October. But despite heavy a weak week, the currency has got dominance over the US dollar, British pound, Euro, and Japanese Yen since June. It’s a matter of great concern for traders that the cash will benefit from the downfall and it’s going to increase in November month.

The currency of Canada offers the benefits from the global rising inflation situations as the prices of energy; commodities are rising and doing great. West taxes intermediate has leveled the position since 2014. The Canadian commodity can affect the local inflation and monetary policy too. There was a growth of 4.4% was seen in the last week’s CPI data as compared, which is also great news for the Canadian dollar. This has grown after a long time since the year 2003.

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