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jimmyforex

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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.
 

jimmyforex

Member
Technical Overview of AUD/USD and USD/JPY Currency Pair

AUD USD


AUD traded higher against USD and closed at 0.7022.
Maintain a bullish data; Staying Long is more favorable as compared to short. Daily chart has a break above close above 10 EMA. Targets may be 0.73, Daily High and Weekly High has also been breached over night. Looking for a break meaningfully above resistance earlier this week at 0.7036 and remain long AUDUSD targeting 0.7300.

According to the Analysis, pair is expected to find support at 0.69868 and a fall through could take it to the next support level of 0.69515. The pair is expected to find its first resistance at 0.70409, and a rise through could take it to the next resistance level of 0.70597.

USD JPY

USD traded higher against JPY and closed at 107.885.
3 - Bearish Days for the Dollar, Expectations are the Rate cut by end of July.
Bearish sentiment leads the currency against the basket of CHF and JPY.
Selling rallies may be a positive approach in trading the safe-heaven. The basket trades below Quarterly and Yearly Pivots.

According to the Analysis, pair is expected to find support at 107.589 and a fall through could take it to the next support level of 107.292. The pair is expected to find its first resistance at 108.394, and a rise through could take it to the next resistance level of 108.902.

Major Events of the Day

NZD: Consumer Price Index (YoY) (Q2)

Consumer Price Index released by the Statistics New Zealand is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services . The purchase power of NZD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative.

CNY: Gross Domestic Product (QoQ) (Q2)
The Gross Domestic Product (GDP) released by the National Bureau of Statistics of China studies the gross value of all goods and services produced by China. The indicator presents the pace at which the Chinese economy is growing or decreasing. As the Chinese economy has influence on the global economy, this economic event would have an impact on the Forex market. 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 Detailed analysis visit
XtreamForex YouTube Channel.
 

jimmyforex

Member
Technical Overview of AUD/USD and EUR/JPY Currency Pair

AUD USD


AUD traded higher against USD and closed at 0.7008.

Higher After Post-Aus Jobs Short-Covering
AUD/NZD rallied from a 4-month low at 1.0404 to 1.0435.
AUD/USD rally was short-covering as it doesn't change RBA expectations.
Resistance at 0.7045 while 10-day MA at 0.6991 is support.

According to the Analysis, pair is expected to find support at 0.69948 and a fall through could take it to the next support level of 0.69811. The pair is expected to find its first resistance at 0.70233, and a rise through could take it to the next resistance level of 0.70381.

EUR JPY

EUR traded lower against JPY and closed at 121.15.
JPY breaking its lows on daily candle as well as weekly candle.
The losers against the JPY are USD and EUR for now.
Pretty decent Harmonic patterns found on H4 charts that are in confluence with the Fundamental expects.

According to the Analysis, pair is expected to find support at 121.038 and a fall through could take it to the next support level of 120.926. The pair is expected to find its first resistance at 121.371, and a rise through could take it to the next resistance level of 121.592.

For Detailed analysis visit XtreamForex YouTube Channel.
 

jimmyforex

Member
Technical Overview of EUR/AUD, AUD/JPY and GBP/AUD Currency Pair

EUR AUD


EUR traded higher against AUD and closed at 1.5936.
  • Below 200 and 50 EMA.
  • Making a series of Lower Highs and Lower Lows.
  • A Bearish/Resistance Trend line Formed.
  • Better option is to trade the strength of AUD and Remain short.
    Alternatively
  • Go long if the pair breaches the Resistance Trend Line.
According to the Analysis, pair is expected to find support at 1.58949 and a fall through could take it to the next support level of 1.58541. The pair is expected to find its first resistance at 1.60044, and a rise through could take it to the next resistance level of 1.60731.

AUD JPY

AUD traded higher against JPY and closed at 75.898.
  • The pair is in a Weekly MBIB formation.
  • The pair slashed the Daily and Weekly Highs.
  • Making a triangle formation as well on the H4.
  • It’s above 50 and 200 EMA Breakout Levels Marked.
  • Target the breakout of 127 Extension on either side.
According to the Analysis, pair is expected to find support at 75.563 and a fall through could take it to the next support level of 75.227. The pair is expected to find its first resistance at 76.109, and a rise through could take it to the next resistance level of 76.319.

GBP AUD

GBP traded higher against AUD and closed at 1.773.
  • Perfect Example of Currency Strength Analysis.
  • Strength of AUD leads the pair to South.
  • The recent bearish News on the Pound supports the movement.
  • It has already breached through Weekly Lows and is below 200 and 50 EMA.
  • For now it's in a Daily Chart Mother bar inside Bar.
  • A break below will be trend continuation.
According to the Analysis, pair is expected to find support at 1.76797 and a fall through could take it to the next support level of 1.76296. The pair is expected to find its first resistance at 1.77716, and a rise through could take it to the next resistance level of 1.78134.

For Detailed analysis visit XtreamForex YouTube Channel.
 
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