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6/18/2019 5:57 am  #1


XtreamForex Daily Technical Analysis

Hello

My name is Anu.
Official Representative of XtreamForex. In this thread we will share daily technical analysis of Forex Pairs.
For any kind of query you can ask here, I will assist you as soon as possible!

With Regards
Anu

 

6/19/2019 2:50 am  #2


Re: XtreamForex Daily Technical Analysis

Technical Overview of EUR/USD, USD/JPY and EUR/JPY Currency Pair
 
EUR USD
 
EUR traded higher against USD and closed at 1.1193.
Long-term trend: Down
EUR USD still moving within 8 years of falling trend channel.
 
Short-term trend: Neutral
Breaking below solid support around 1.1220.
 
According to the Analysis, pair is expected to find support at 1.11686, and a fall through could take it to the next support level of 1.11442. The pair is expected to find its first resistance at 1.12301, and a rise through could take it to the next resistance level of 1.12672.
 
USD JPY
 
USD traded lower against JPY and closed at 108.442.
Long-term trend: Down
On the verge of completing a large triangle on the downside.
 
Short-term trend: Down
Developing a bear flag formation, indicating a continuation of the downtrend.
 
According to the Analysis, pair is expected to find support at 108.108, and a fall through could take it to the next support level of 107.774. The pair is expected to find its first resistance at 108.726, and a rise through could take it to the next resistance level of 109.010.
 
EUR JPY
 
EUR traded lower against JPY and closed at 121.376.
Long-term trend: Down
A test of the solid horizontal support around 111.95 should be expected.
 
Short-term trend: Down
The picture is weakening, waiting for a break below the crucial support around 120.90.
 
According to the Analysis, pair is expected to find support at 121.003, and a fall through could take it to the next support level of 120.629. The pair is expected to find its first resistance at 121.808, and a rise through could take it to the next resistance level of 122.239.
 
Key Fundamentals of the Day
G10: Markets Consolidate Ahead Of FOMC; AUD/NZD: Downside
FX market is likely to consolidate ahead of the Fed
While flagging a scope for further downside in AUD/NZD
In anticipation of another RBA cut.
At the central bank coming policy meeting.
 
Trump comments on Trade War
The US President Donald Trump announced on Tuesday that the US and Chinese trade talk teams will restart talks ahead of the G20 summit.
This could result in a down fall in the USD/CNH Pair
 
Facebook goes into cryptocurrencies
On Tuesday, it was announced by Facebook that the company plans to launch its Cryptocurrency, which is named Libra. 
Moreover, the social network will offer crypto wallets named Calibra.
 
For Detailed analysis visit XtreamForex YouTube Channel.

     Thread Starter
 

6/21/2019 2:30 am  #3


Re: XtreamForex Daily Technical Analysis

Technical Overview of GBP/USD and AUD/USD Currency Pair
 
GBP USD
 
GBP traded lower against USD and closed at 1.2697.
Sterling slips after BoE holds rates but cuts growth forecast
 
The BoE message was far less dovish than the U.S. Federal Reserve  and European Central Bank, which this week opened the door to rate cuts.
Sterling has rallied in recent days, pulling away from five-month lows, as investors dumped the dollar following the Fed’s dovish signaling.
 
According to the Analysis, pair is expected to find support at 1.26437 and a fall through could take it to the next support level of 1.25904. The pair is expected to find its first resistance at 1.27385, and a rise through could take it to the next resistance level of 1.27800.
 
AUD USD
 
AUD traded higher against USD and closed at 0.6919.
Black Rock Inc. is shorting the Australian dollar.
The currency has been out of favor this year as the RBA turned dovish and cut rates for the first time in three years.
The central bank trimmed its cash rate by 25 basis points to 1.25% on June 4, with Governor Philip saying the decision would help reduce unemployment and boost inflation.
 
According to the Analysis, pair is expected to find support at 0.68858, and a fall through could take it to the next support level of 0.68523. The pair is expected to find its first resistance at 0.69441, and a rise through could take it to the next resistance level of 0.69689.
 
Key Fundamentals of the Day
 
FED has a next move, Opportunity to Sell
Fed easing will eventually pull USD lower.
It’s believed that any additional USD firmness over the next 1-2 weeks will set up for a sell opportunity.
Suicide Rates among Young Americans Accelerates To Highest Level Since 2000.
 
For Detailed analysis visit XtreamForex YouTube Channel.

     Thread Starter
 

6/25/2019 1:58 am  #4


Re: XtreamForex Daily Technical Analysis

Technical Overview of USD/JPY, EUR/USD and AUD/USD Currency Pair
 
USD JPY
 
USD traded lower against JPY and closed at 107.29.
The Citigroup analysts make a case for buying the dips in the USD/JPY pair below 107.50
 support area, as they believe the downside doesn’t look more compelling.
USD: Weakness Likely To Extend As Key Technical Support Levels Are Broken.
The dollar index finally broke below its 200-day moving average on Friday at 96.600 which opens the door to further weakness in the near-term.
Flags a scope for further weakness in the future.
 
According to the Analysis, pair is expected to find support at 107.179 and a fall through could take it to the next support level of 107.068. The pair is expected to find its first resistance at 107.468, and a rise through could take it to the next resistance level of 107.646.
 
EUR USD
 
EUR traded higher against USD and closed at 1.1397.
Longs Super-Trade In The Month Heading To Fed's Cut.
EUR/USD position as the second-best G-10 FX trade in months leading up to the first Fed cut, only outpaced by a long EUR/NZD position.
ECB easing is also a done deal now, as Draghi hinted of easing unless the outlook improves (more QE and a rate cut).
The outlook will not improve (before 2020), but the ECB usually delivers when projections are updated – i.e. in September (they will ease with a time-lag after the Fed.
 
According to the Analysis, pair is expected to find support at 1.13742, and a fall through could take it to the next support level of 1.13511. The pair is expected to find its first resistance at 1.14120, and a rise through could take it to the next resistance level of 1.14267.
 
AUD USD
 
AUD traded lower against USD and closed at 0.6958.
RBA Maintains Call For Infrastructure Investment.
Rate cuts at low yield levels may not be enough to boost economy.
Quantitative Easing may be done.
 
According to the Analysis, pair is expected to find support at 0.69354, and a fall through could take it to the next support level of 0.69122. The pair is expected to find its first resistance at 0.69750, and a rise through could take it to the next resistance level of 0.69914.
 
Key Fundamentals of the Day
 
Gold- Fed is seen cutting rates by a 50bp in July
Analysts at Morgan Stanley raises their gold price forecast for the second half of this year and the year after, in the face of the dovish Fed rate expectations, broad dollar weakness, global economic slowdown and falling US rates.
Real yields close to zero would reduce demand for yielding USD assets, could increase the demand for gold.
The negative territory could generate considerable further upside for gold's price.
Gold price forecast to average USD 1,435 in H2 of this year and USD 1,338 in 2020.
 
For Detailed analysis visit XtreamForex YouTube Channel.

     Thread Starter
 

6/26/2019 2:01 am  #5


Re: XtreamForex Daily Technical Analysis

Technical Overview of EUR/USD and GBP/USD Currency Pair
 
EUR USD
 
EUR traded lower against USD and closed at 1.1365.
EUR/USD position as the second-best G-10 FX trade in months leading up to the first Fed cut, only outpaced by a long EUR/NZD position.
ECB easing is also a done deal now, as Draghi hinted of easing unless the outlook improves (more QE and a rate cut).
The outlook will not improve (before 2020), but the ECB usually delivers when projections are updated – i.e. in September (they will ease with a time-lag after the Fed.
Break of ADR Highs to further extensions or Break of Support to form a Double top.
 
According to the Analysis, pair is expected to find support at 1.13353 and a fall through could take it to the next support level of 1.13059. The pair is expected to find its first resistance at 1.14030, and a rise through could take it to the next resistance level of 1.14413.

 
GBP USD
 
GBP traded lower against USD and closed at 1.2675.
Pair @ support from previous 3 week Pivot.
Pair @ support from Pivot support candle.
Preparing for Pre G-20 Meeting.
Resistance @ Pivot resistance candle.
Resistance @ Monthly Pivot.
 
According to the Analysis, pair is expected to find support at 1.26366, and a fall through could take it to the next support level of 1.25980. The pair is expected to find its first resistance at 1.27488, and a rise through could take it to the next resistance level of 1.28224.

 
Key Fundamentals of the Day
 
The dollar fell against most major currencies on Tuesday, hitting a three-month low against the euro.
As expectations of multiple decreases of U.S. interest rates by the Federal Reserve have spurred selling of the U.S. currency.
Growing tensions between Iran and the United States stoked fresh safe-haven buying of the yen.
President Donald Trump believes the U.S. dollar is too strong, and the euro is.
 
For Detailed analysis visit XtreamForex YouTube Channel.

     Thread Starter
 

6/27/2019 1:16 am  #6


Re: XtreamForex Daily Technical Analysis

Technical Overview of EUR/CHF, EUR/JPY and AUD/JPY Currency Pair
 
EUR CHF
 
EUR traded higher against CHF and closed at 1.1116.
Long-term trend: Neutral. The weekly close below support around 1.1130 suggests further selling pressure.
Short-term trend: Down. The consolidation below the lower end trading of the trading range around 1.1150 is bearish.
 
According to the Analysis, pair is expected to find support at 1.10864 and a fall through could take it to the next support level of 1.10571. The pair is expected to find its first resistance at 1.11345, and a rise through could take it to the next resistance level of 1.11533.
 
EUR JPY
 
EUR traded higher against JPY and closed at 122.527.
Long-term trend: Down. A test of the solid horizontal support around 111.95 should be expected.
Short-term trend: Neutral. Higher prices are still possible, although the upside potential remains limited.
 
According to the Analysis, pair is expected to find support at 121.983, and a fall through could take it to the next support level of 121.440. The pair is expected to find its first resistance at 122.848, and a rise through could take it to the next resistance level of 123.170.
 
AUD JPY
 
AUD traded higher against JPY and closed at 75.271.
Long-term trend: Down. Long-term solid horizontal support comes in around 72.15.
Short-term trend: Neutral: Bottoming scenario confirmed by breaking upper end falling trend channel
 around 74.70.
 
According to the Analysis, pair is expected to find support at 74.745, and a fall through could take it to the next support level of 74.220. The pair is expected to find its first resistance at 75.572, and a rise through could take it to the next resistance level of 75.874.
 
For Detailed analysis visit XtreamForex YouTube Channel.

     Thread Starter
 

7/01/2019 1:54 am  #7


Re: XtreamForex Daily Technical Analysis

Technical Overview of USD/CNH, USD/CHF and USD/CAD Currency Pair
 
USD CNH
 
USD traded higher against CNH and closed at 6.8679.

G20 Summit is over now, it’s expected that the weakness of the USD may continue.
On the other hand we may see strength in the safe heaven and CNH.
President Donald Trump wants a weaker dollar to help boost exports, and is counting on the Federal Reserve to help make that happen. But the central bank’s chairman, Jerome Powell, has made clear it’s not his job.
 
According to the Analysis, pair is expected to find support at 6.85980 and a fall through could take it to the next support level of 6.85170. The pair is expected to find its first resistance at 6.87757, and a rise through could take it to the next resistance level of 6.88724.
 
USD CHF
 
USD traded higher against CHF and closed at 0.9764.

According to the Analysis, pair is expected to find support at 0.97432, and a fall through could take it to the next support level of 0.97225. The pair is expected to find its first resistance at 0.97793, and a rise through could take it to the next resistance level of 0.97947.
 
USD CAD
 
USD traded higher against CAD and closed at 1.3099.

According to the Analysis, pair is expected to find support at 1.30715, and a fall through could take it to the next support level of 1.30440. The pair is expected to find its first resistance at 1.31142, and a rise through could take it to the next resistance level of 1.31294.
 
Major Economic Events of the Day

The Caixin China Manufacturing PMI, released by Market, is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private manufacturing sector companies.
The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).
 
For Detailed analysis visit XtreamForex YouTube Channel.

     Thread Starter
 

7/02/2019 1:23 am  #8


Re: XtreamForex Daily Technical Analysis

Technical Overview of AUD/USD Currency Pair
 
AUD USD
 
AUD traded higher against USD and closed at 0.6963.
The Reserve Bank of Australia (RBA), as was widely expected, decided to cut interest rates for the second month in a row to a historic low level of 1.0% at its July monetary policy meeting held this Tuesday.
The decision was on expected lines and hence, did little to prompt any fresh selling around the Australian Dollar, with the AUD/USD pair holding steady above mid-0.6900s.
 
According to the Analysis, pair is expected to find support at 0.69344 and a fall through could take it to the next support level of 0.69057. The pair is expected to find its first resistance at 0.70132, and a rise through could take it to the next resistance level of 0.70633.
 
Major Economic Events of the Day
Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.
 
Philip Lowe replaced Glenn Stevens as governor of Australia’s central bank. Lowe was the Deputy Governor of the Reserve Bank of Australia, a position he held since February 2012.
 
For Detailed analysis visit XtreamForex YouTube Channel.

     Thread Starter
 

7/08/2019 1:32 am  #9


Re: XtreamForex Daily Technical Analysis

Technical Overview of GBP/USD and EUR/JPY Currency Pair
 
GBP USD
 
GBP traded higher against USD and closed at 1.2527.
GBP/USD - Charts Suggest the 2019 Low Is Vulnerable.
D1 and H4 200 EMA Heads to south.
Broke D1 Ib towards the down side.
Broke the Quarter Support and Month Support.
Series of Lower Lows and Lower Highs.
 
According to the Analysis, pair is expected to find support at 1.24759 and a fall through could take it to the next support level of 1.24252. The pair is expected to find its first resistance at 1.25822, and a rise through could take it to the next resistance level of 1.26378.
 
EUR JPY
 
EUR traded lower against JPY and closed at 121.779.
EUR/JPY: Scope for Retesting 120.82.
D1 and H4 200 EMA Heads to south.
Broke D1 Ib towards the down side.
It's in range but projects towards the down side.
 
According to the Analysis, pair is expected to find support at 121.596 and a fall through could take it to the next support level of 121.414. The pair is expected to find its first resistance at 121.943, and a rise through could take it to the next resistance level of 122.108.
 
Major Economic Events of the Day

Bank of Japan Governor Haruhiko Kuroda will hold a press conference about monetary policies in Tokyo. Mr Kuroda exercises general control over the Bank's business. He is in charge of the Internal Auditors' Office.
 
For Detailed analysis visit XtreamForex YouTube Channel.

     Thread Starter
 

7/10/2019 4:08 am  #10


Re: XtreamForex Daily Technical Analysis

Technical Overview of EUR/USD and AUD/USD and GBP/NZD Currency Pair
 
EUR USD
 
EUR traded higher against USD and closed at 1.1208.
EUR is expected to trade sideways, likely within a 1.1190/1.1230 range.
According to the Analysis, pair is expected to find support at 1.11943 and a fall through could take it to the next support level of 1.11810. The pair is expected to find its first resistance at 1.12198, and a rise through could take it to the next resistance level of 1.12320.
 
AUD USD
 
AUD traded lower against USD and closed at 0.6926.
AUD/USD - Edges Lower After Weak Consumer Confidence
Bears Seem Confident Ahead Of Fed 
 
According to the Analysis, pair is expected to find support at 0.69059 and a fall through could take it to the next support level of 0.68858. The pair is expected to find its first resistance at 0.69604, and a rise through could take it to the next resistance level of 0.69948.
 
GBP NZD
 
GBP traded lower against NZD and closed at 1.8856.
Overnight NZD was struck by a massive selling order. It was almost 34 pips in Asian session.
UK Manufacturing Production today
We can see that the expected 2.1 is way lot better than previous –3.9
if we have a positive tone from GBP then the Technical and fundamental bounce from the lows will be supported.
 
According to the Analysis, pair is expected to find support at 1.88115 and a fall through could take it to the next support level of 1.87673. The pair is expected to find its first resistance at 1.88989, and a rise through could take it to the next resistance level of 1.89421.
 
Major Economic Events of the Day

CAD: BOC Tone On Wed Likely A Bit More Optimistic Than Markets Assuming – CIBC
“While not a stunner for markets, the tone will tend to be a bit more optimistic than what markets are now assuming.”
The Consumer Price Index is released by the National Bureau of Statistics of China. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative (or Bearish) for the CNY.
Federal Reserve Chair Jerome Powell testifies before Congress, providing a broad overview of the economy and monetary policy. Powell's prepared remarks are published ahead of the appearance on Capitol Hill.
 
For Detailed analysis visit XtreamForex YouTube Channel.

     Thread Starter
 

7/12/2019 2:37 am  #11


Re: XtreamForex Daily Technical Analysis

Technical Overview of USD/CAD and USD/JPY Currency Pair
 
USD CAD
 
USD traded lower against CAD and closed at 1.3069.
Trades near the yearly-low (1.3037) even though the Bank of Canada (BoC) endorses a wait-and-see approach for monetary policy, and recent price action keeps the downside targets on the radar as the exchange rate fails to break out of the monthly opening range.
 
According to the Analysis, pair is expected to find support at 1.30436 and a fall through could take it to the next support level of 1.30179. The pair is expected to find its first resistance at 1.30931, and a rise through could take it to the next resistance level of 1.31169.
 
USD JPY
 
USD traded lower against JPY and closed at 108.487.
USD/JPY to find support from yields may face resistance above 109.00.
Its approaching resistance level and fundamentally the weakness of USD may drive the pair lower.
 
According to the Analysis, pair is expected to find support at 108.053 and a fall through could take it to the next support level of 107.618. The pair is expected to find its first resistance at 108.726, and a rise through could take it to the next resistance level of 108.964.
 
For Detailed analysis visit XtreamForex YouTube Channel.

     Thread Starter
 

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