Daily Forex News

jimmyforex

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Technical Overview of Bitcoin by XtreamForex

BTC traded a bit lower against USD and closed at 3653.36.

Bitcoin breaks key levels again after breaching $4k.
Long term bottom is not in place yet.

According to the Analysis, The BTC/USD pair is expected to find support at 3589.71, and a fall through could take it to the next support level of 3526.05. The pair is expected to find its first resistance at 3708.30, and a rise through could take it to the next resistance level of 3763.23. Previous Day range was 118.59 and Current Day Range is 37.66.

Bitcoin, the king of Cryptocurrencies, has broken down of some key levels after breaking below $4,000 and is now at the risk of breaching $3,000 too as long term bottom is not yet in place for the largest crypto.
BTC/USD trading flat on day at $3,633 and in less than one percent range for the day - typical low volume and even lower volatility weekend trading that is. Earlier this week, Bitcoin and all the other major coins saw massive sell-off all over again, resulting in BTC breaking $4,000 again and as a result also broke some key levels on the short term (180-minute) as well as long term (daily) chart.
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jimmyforex

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Technical Overview of EUR/USD, GBP/USD and USD/CAD Currency Pairs

EUR USD

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The EUR traded lower against the USD and closed at 1.1454.

The EUR/USD pair advanced for a second consecutive week, unable, however, to make a relevant bullish breakout and finishing the week right below 1.1460.

Unemployment Change reflects a change in the total number of unemployed Spanish citizens. 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 1.14297, and a fall through could take it to the next support level of 1.14055. The pair is expected to find its first resistance at 1.14829, and a rise through could take it to the next resistance level of 1.15119.

Previous Day range was 53.2 and Current Day Range is 13.5.


GBP USD
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The GBP traded lower against the USD and closed at 1.3075.

GBP/USD running out of steam faded at 1.3217 highs. Brexit Secretary Stephen Barclay and senior government officials are due to discuss alternative arrangements to the Irish backstop this week.

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.

The pair is expected to find support at 1.30409, and a fall through could take it to the next support level of 1.30064. The pair is expected to find its first resistance at 1.31111, and a rise through could take it to the next resistance level of 1.31468.

GBP USD previous Day range was 70.2 and Current Day Range is 19.7.


USD CAD

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The USD traded bit higher against CAD and closed at 1.3098.

The USD/CAD pair broke below the key 1.3115/20 support area and tumbled to 1.3082, the lowest level since November 7. The pair resumed the move lower that started early January from above 1.3600.

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.

According to the analysis, pair is expected to find support at 1.30582, and a fall through could take it to the next support level of 1.30188. The pair is expected to find its first resistance at 1.31471, and a rise through could take it to the next resistance level of 1.31966.

USD CAD previous day range was 88.9 and current day range is 14.1.

 

jimmyforex

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Technical Overview of AUD/USD, NZD/USD and USD/JPY Currency Pairs

AUD USD

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The AUD traded higher against the USD and closed at 0.7225.

Australia Retail Sales m/m show a change in the turnover of goods and services sold in retail outlets in the given month compared to the previous month.

The turnover of goods and services sold in retail outlets include retail sales, wholesales, takings from repairs, sales in public places, commission from agency activity, as well as the goods and services tax.

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

According to the Analysis, The pair is expected to find support at 0.72060, and a fall through could take it to the next support level of 0.71873. The pair is expected to find its first resistance at 0.72486, and a rise through could take it to the next resistance level of 0.72725.

Previous Day range was 42.6 and Current Day Range is 60.1.


NZD USD
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The NZD traded higher against the USD and closed at 0.6896.

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 0.68754, and a fall through could take it to the next support level of 0.68548. The pair is expected to find its first resistance at 0.69111, and a rise through could take it to the next resistance level of 0.69262.

NZD USD previous Day range was 35.7 and Current Day Range is 30.4.


USD JPY

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The USD traded bit higher against JPY and closed at 109.874.

Household Spending y/y measures the total expenditure by Japanese households in the given month compared to the same month of the previous year. The index is calculated based on a statistical sample of households in the country. The calculation includes expenditures on food, housing, utilities, furniture, closing, health, education, transport, communication, leisure activities, etc.

The index is viewed as an indicator of economic growth and consumer optimism. It allows measuring the level of inflation in the country.

The indicator growth can have a positive effect on the yen quotes.

According to the analysis, pair is expected to find support at 109.484, and a fall through could take it to the next support level of 109.093. The pair is expected to find its first resistance at 110.212, and a rise through could take it to the next resistance level of 110.549.

USD JPY previous day range was 7280 and current day range is 2010.
 

jimmyforex

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Technical Overview of EUR/USD, USD/CAD and USD/CHF Currency Pairs

EUR USD


The EUR traded lower against the USD and closed at 1.1405.

Despite macroeconomic data released this Tuesday favored an advance in EUR/USD the pair ends the day with losses at pre-FOMC levels. 1.1315 at sight should the 1.1400 figure gives up.

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, The pair is expected to find support at 1.13907, and a fall through could take it to the next support level of 1.13767. The pair is expected to find its first resistance at 1.14293, and a rise through could take it to the next resistance level of 1.14539.

Previous Day range was 38.6 and Current Day Range is 13.


USD CAD

The USD traded higher against the CAD and closed at 1.1325.

The USD/CAD pair trades little changed around 1.3130 on early Wednesday. The pair has strong resistance confluence near 1.3205-1.3210 that includes 100-day simple moving average (SMA) and a month old descending trend-line.

Canada Ivey Purchasing Managers Index (PMI) shows economic activity in the past month calculated by the Ivey School of Business.

The indicator is calculated based on a survey of purchasing managers in the private and public sector companies. The survey involves representatives of 175 companies selected in view of their field of activity and geographical location. Respondents answer questions about whether purchases, employment, supplies and prices in their sector have become better, worse or has not changed over the reported month.

Survey results are seasonally adjusted.

A reading above 50 indicates that the economic activity is expanding, a reading below 50 suggests the economy is in contraction. The index growth can have a positive effect on CAD quotes.

The pair is expected to find support at 1.31002, and a fall through could take it to the next support level of 1.30757. The pair is expected to find its first resistance at 1.31511, and a rise through could take it to the next resistance level of 1.31755.

USD CAD previous Day range was 50.9 and Current Day Range is 26.1.

USD CHF

The USD traded bit higher against CHF and closed at 0.9995.

US Dollar Index struggles to break above 96.
10-year T-bond yield erases gains to weigh on the greenback.
Coming up: ISM and Markit non-manufacturing PMI data from the U.S.

According to the analysis, pair is expected to find support at 0.99706, and a fall through could take it to the next support level of 0.99464. The pair is expected to find its first resistance at 1.00198, and a rise through could take it to the next resistance level of 1.00448.

USD CHF previous day range was 49.2 and current day range is 16.9.
 

jimmyforex

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Technical Overview of GBP/USD, AUD/USD and NZD/USD Currency Pairs

GBP USD


The GBP traded lower against the USD and closed at 1.2927.

Bank of England Interest Rate Decision is taken by monetary policy committee members and is published two weeks after the meeting.

The interest rate decision is one of the most important events. Interest rate growth is seen as positive for the sterling.

According to the Analysis, The pair is expected to find support at 1.29085, and a fall through could take it to the next support level of 1.28900. The pair is expected to find its first resistance at 1.29614, and a rise through could take it to the next resistance level of 1.29958.

Previous Day range was 52.9 and Current Day Range is 11.8.


AUD USD

The AUD traded higher against the USD and closed at 0.7104.

FED Chair Speech affects USD depending on the speech rhetoric. If the speech is seen as an intention to raise the rates at the next FOMC meeting, this has a positive impact on USD and vice versa.

The FED Chair's statements have the greatest impact on the market compared to other members of the FED Board of Governors.

The pair is expected to find support at 0.70551, and a fall through could take it to the next support level of 0.70059. The pair is expected to find its first resistance at 0.71994, and a rise through could take it to the next resistance level of 0.72945.

AUD USD previous Day range was 144.3 and Current Day Range is 16.6.

NZD USD

The NZD traded bit lower against USD and closed at 0.6774.

New Zealand Employment Change q/q shows the change in the number of citizens officially employed in New Zealand resident companies in the given quarter compared to the previous one. Employment growth is a sign of a stronger labor market and can be seen as positive for the New Zealand dollar quotes.
According to the analysis, pair is expected to find support at 0.67251, and a fall through could take it to the next support level of 0.66760. The pair is expected to find its first resistance at 0.68640, and a rise through could take it to the next resistance level of 0.69538.

NZD USD previous day range was 138.9 and current day range is 33.5.
 

jimmyforex

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Technical Overview of AUD/USD, USD/CAD and USD/JPY Currency Pairs

AUD USD


The AUD traded lower against the USD and closed at 0.7100.

Reserve Bank of Australia (RBA) Monetary Policy Statement is published quarterly. It provides explanations to the current monetary policy and description of economic state and inflation prospects.

According to the Analysis, The pair is expected to find support at 0.70871, and a fall through could take it to the next support level of 0.70740. The pair is expected to find its first resistance at 0.71152, and a rise through could take it to the next resistance level of 0.71302.

Previous Day range was 28.1 and Current Day Range is 43.3.


USD CAD

The USD traded higher against the CAD and closed at 1.3307.

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.

The pair is expected to find support at 1.32344, and a fall through could take it to the next support level of 1.31619. The pair is expected to find its first resistance at 1.33482, and a rise through could take it to the next resistance level of 1.33895.

USD CAD previous Day range was 113.8 and Current Day Range is 31.

USD JPY

The USD traded bit lower against JPY and closed at 109.799.

Federal Open Market Committee (FOMC) Member Speech may contain indications on the possible future changes in the Fed's monetary policy. Committee members participate in interest rate voting, determine appropriate monetary policy measures and assess the risks to long-run goals of price stability and sustainable economic growth.

According to the analysis, pair is expected to find support at 109.577, and a fall through could take it to the next support level of 109.354. The pair is expected to find its first resistance at 110.051, and a rise through could take it to the next resistance level of 110.302.

USD JPY previous day range was 4740 and current day range is 1890.
 

jimmyforex

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Technical Overview of GBP/USD, NZD/USD and EUR/USD Currency Pairs

GBP USD


The GBP traded lower against the USD and closed at 1.2938.

Manufacturing Production m/m shows the change in the value of goods produced in the manufacturing sector of the UK industry in the given month compared to the previous month.
Manufacturing (production of foods, pharmaceuticals, light industry, metal processing, etc.) accounts for about 80% of the overall UK industrial production.

The indicator growth may have a positive effect on the pound quotes.

According to the Analysis, The pair is expected to find support at 1.29147, and a fall through could take it to the next support level of 1.28909. The pair is expected to find its first resistance at 1.29678, and a rise through could take it to the next resistance level of 1.29971.

Previous Day range was 53.1 and Current Day Range is 12.1.


NZD USD

The NZD traded higher against the USD and closed at 0.6745.

Electronic Card Retail Sales m/m reflect a percentage change in electronic card transactions over the reported month compared to the previous one. The indicator can be used in the estimation of consumer spending and economic activity.

The indicator values are seasonally adjusted and can be revised on a monthly basis, while monthly movements can fluctuate.

The pair is expected to find support at 0.67274, and a fall through could take it to the next support level of 0.67099. The pair is expected to find its first resistance at 0.67643, and a rise through could take it to the next resistance level of 0.67837.

NZD USD previous Day range was 36.9 and Current Day Range is 32.3.

EUR USD

The EUR traded bit lower against USD and closed at 1.1323.

FED Chair Speech affects USD depending on the speech rhetoric. If the speech is seen as an intention to raise the rates at the next FOMC meeting, this has a positive impact on USD and vice versa.

The FED Chair's statements have the greatest impact on the market compared to other members of the FED Board of Governors.

According to the analysis, pair is expected to find support at 1.13129, and a fall through could take it to the next support level of 1.13024. The pair is expected to find its first resistance at 1.13423, and a rise through could take it to the next resistance level of 1.13612.

EUR USD previous day range was 29.4 and current day range is 12.8.
 

jimmyforex

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Online Trading

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Over all in this day and age, online money trading is far from the risky taboo that it was at the dawn of the world wide web, when nobody trusted this new alien they could not understand. Instead it is a part of the global economy, and a part of pretty much every body's life.

Online trading is today’s most common way of making money in forex market. Read this article in brief to know What is Online Trading with XtreamForex.
 

jimmyforex

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Technical Overview of AUD/USD, USD/CAD and USD/JPY Currency Pairs

AUD USD

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The AUD traded lower against the USD and closed at 0.7061.

The National Australia Bank (NAB) Business Confidence Index is calculated based on a business survey of Australian companies conducted by NAB. The report reflects business expectations for 17 different factors, including tax regulation, housing prices, interest rates, wages, geopolitical risks, federal and regional policies, and other factors.

A reading above zero indicates improving business conditions and can affect AUD quotes positively. A negative value indicates worsening conditions.

According to the Analysis, The pair is expected to find support at 0.70428, and a fall through could take it to the next support level of 0.70423. The pair is expected to find its first resistance at 0.70937, and a rise through could take it to the next resistance level of 0.71261.

Previous Day range was 50.9 and Current Day Range is 33.5.


USD CAD
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The USD traded lower against the CAD and closed at 1.3301.

JOLTS Job Openings is a monthly report on job vacancies in the US commercial, industrial and office areas. The calculation includes all vacancies that are open as of the last business day of a month.

The indicator is included in the JOLTS (Job Openings and Labor Turnover Survey) report based on employers' survey. In addition to job openings, it includes data on employment, hires and separations.

JOLTS characterizes the US labor market. Index growth may have a positive effect on dollar quotes.

The pair is expected to find support at 1.32688, and a fall through could take it to the next support level of 1.32369. The pair is expected to find its first resistance at 1.33257, and a rise through could take it to the next resistance level of 1.33507.

USD CAD previous Day range was 56.9 and Current Day Range is 27.

USD JPY
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The USD traded higher against JPY and closed at 110.367.

Industrial Production m/m reflects changes in the Japanese industrial sector outputs in the given month compared to the previous month. The report includes data of all production sectors in Japan, including industry, mining and energy.

Industrial production growth may have a positive effect on yen quotes.

According to the analysis, pair is expected to find support at 109.936, and a fall through could take it to the next support level of 109.505. The pair is expected to find its first resistance at 110.631, and a rise through could take it to the next resistance level of 110.895.

USD JPY previous day range was 6950 and current day range is 3020.
 

jimmyforex

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Technical Overview of GBP/USD, AUD/USD and USD/JPY Currency Pairs

GBP USD


The GBP traded higher against the USD and closed at 1.2843.

Retail Sales m/m reflect a change in the US retail sails in the reported month compared to the previous one. The indicator is calculated based on statistics received from 5,000 retail stores of different types and sizes, and the data are then extrapolated to the whole country.

The indicator is used for estimating inflation. Its growth may have a positive effect on dollar quotes.

According to the Analysis, The pair is expected to find support at 1.28052, and a fall through could take it to the next support level of 1.27675. The pair is expected to find its first resistance at 1.29183, and a rise through could take it to the next resistance level of 1.29937.

Previous Day range was 113.1 and Current Day Range is 24.9.


AUD USD

The AUD traded higher against the USD and closed at 0.7088.

Initial Jobless Claims show the number of people filing to receive unemployment insurance benefits for the first time over the past week.

The indicator is used to assess the state of the labor market. Since the weekly flow of data causes high volatility, the four-week average values are used most often for interpretation.
The indicator growth can have a negative effect on US dollar quotes.

The pair is expected to find support at 0.70703, and a fall through could take it to the next support level of 0.70531. The pair is expected to find its first resistance at 0.71205, and a rise through could take it to the next resistance level of 0.71535.

AUD USD previous Day range was 50.2 and Current Day Range is 35.5.

USD JPY

The USD traded higher against JPY and closed at 111.

Gross Domestic Product (GDP) q/q reflects the monetary value of all goods and services produced in Japan during a given quarter compared to the previous one. The calculation takes into account private consumption, government spending, the costs of all enterprises and net exports of the country.
GDP growth can have a positive effect on yen quotes.

According to the analysis, pair is expected to find support at 110.599, and a fall through could take it to the next support level of 110.197. The pair is expected to find its first resistance at 111.226, and a rise through could take it to the next resistance level of 111.451.

USD JPY previous day range was 6270 and current day range is 2550.
 

jimmyforex

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Technical Overview of USD/CAD, EUR/USD and USD/CHF Currency Pairs

USD CAD


The USD traded higher against the CAD and closed at 1.3292.

Fed Industrial Production m/m reflects the production volume in the US in the given month compared to the previous one. The calculation includes the monthly industrial production of factories, mining enterprises and electric networks. Publishing business and periodicals are included as well. The index is calculated relative to the base period having a reference level of 100% (currently, it is the year of 2002).

The Fed uses this report for evaluating inflation and the country's manufacturing sector. The indicator can also be used to forecast the current period's GDP.

A higher than expected reading can have a positive effect on dollar quotes.

According to the Analysis, The pair is expected to find support at 1.32341, and a fall through could take it to the next support level of 1.31757. The pair is expected to find its first resistance at 1.33454, and a rise through could take it to the next resistance level of 1.33983.

Previous Day range was 111.3 and Current Day Range is 23.5.


EUR USD

The EUR traded higher against the USD and closed at 1.1294.

ECB Executive Board Member Speech can have an impact on the euro depending on the speech rhetoric and hints that analysts can find in the speech. Executive board members vote on interest rate and the monetary policy of the European regulator.

The pair is expected to find support at 1.12597, and a fall through could take it to the next support level of 1.12250. The pair is expected to find its first resistance at 1.13189, and a rise through could take it to the next resistance level of 1.13434.

EUR USD previous Day range was 59.2 and Current Day Range is 12.8.

USD CHF

The USD traded higher against CHF and closed at 1.0047.

Fed Industrial Production m/m reflects the production volume in the US in the given month compared to the previous one. The calculation includes the monthly industrial production of factories, mining enterprises and electric networks. Publishing business and periodicals are included as well. The index is calculated relative to the base period having a reference level of 100% (currently, it is the year of 2002).

The Fed uses this report for evaluating inflation and the country's manufacturing sector. The indicator can also be used to forecast the current period's GDP.

A higher than expected reading can have a positive effect on dollar quotes.

According to the analysis, pair is expected to find support at 1.00281, and a fall through could take it to the next support level of 1.00097. The pair is expected to find its first resistance at 1.00815, and a rise through could take it to the next resistance level of 1.01165.

USD CHF previous day range was 53.4 and current day range is 13.3.
 
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