one to one coaching

Daily Forex News

jimmyforex

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

USD JPY


USD traded lower against JPY and closed at 107.92

USD/JPY is currently trading largely unchanged on the day at 107.93, having faced rejection at 108.00 in Asia. The psychological resistance proved a tough nut to crack despite the uptick in the futures on the S&P 500.

According to the Analysis, pair is expected to find support at 107.88 and a fall through could take it to the next support level of 107.85. The pair is expected to find its first resistance at 108.00 and a rise through could take it to the next resistance level of 108.03.

USD CNY

USD traded higher against CNY and closed at 7.1218.

According to the Analysis, pair is expected to find support at 7.1192 and a fall through could take it to the next support level of 7.1146. The pair is expected to find its first resistance at 7.1344, and a rise through could take it to the next resistance level of 1.1390.

Important Economic Events of the Day
  • JPY: Retail Sales m/m
  • CNY: China Manufacturing Purchasing Managers Index (PMI)
  • CNY: China Non-Manufacturing Purchasing Managers Index (PMI)
  • GBP: United Kingdom Gross Domestic Product (GDP) q/qUSD: Pending Home Sales m/m
For More information about the release time of news and its impact visit
 

jimmyforex

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

AUD USD


AUD traded lower against USD and closed at 0.6749.

The bid tone around the US dollar strengthened across the board, now pushing AUD/USD back into the red to hit four-week lows near 0.6740. The focus now shifts to the RBA rate decision while poor Australian housing data and US-China trade uncertainty continue to weigh.

According to the Analysis, pair is expected to find support at 0.6743 and a fall through could take it to the next support level of 0.6736. The pair is expected to find its first resistance at 0.6765 and a rise through could take it to the next resistance level of 0.6772.

USD CAD

USD traded higher against CAD and closed at 1.3239.

With its failure to cross 1.3263/65 resistance-confluence, USD/CAD drops back towards near-term horizontal support as it trades near 1.3240 during the Asian session on Tuesday. Three-week-old horizontal-line restricts immediate downside.

According to the Analysis, pair is expected to find support at 1.3228 and a fall through could take it to the next support level of 1.3220. The pair is expected to find its first resistance at 1.3256, and a rise through could take it to the next resistance level of 1.3264.

Important Economic Events of the Day

  • JPY: Bank of Japan (BoJ) Tankan Large Manufacturing Index
  • JPY: Bank of Japan (BoJ) Tankan Large Non-Manufacturing Index
  • AUD: Reserve Bank of Australia (RBA) Interest Rate Decision
  • AUD: Reserve Bank of Australia (RBA) Governor Lowe Speech
  • CAD: Canada Gross Domestic Product (GDP) m/m
  • USD: ISM United States Manufacturing Purchasing Managers Index (PMI)
For More information about the release time of news and its impact visit
 

jimmyforex

Member
Why Would Forex Traders Use Forex VPS hosting servers?

VPS or Virtual Private Servers are software’s used by many computer users for many industries businesses and personal uses. VPS are becoming popular among Forex users because they offer an entirely independent operating system for forex trading.

Using a VPS for your Forex trading can be very efficient if you only have a desktop, or you do not like trading on your lap top or smaller devices. The VPS can be accessed through any computer as long as there is a network connection. So whether you are in the office, at a friend’s house, at a hotel or abroad, you can turn any computer into your own by accessing your VPS and executing your trades.

If you use a trading Robot the VPS can continue trading even if your power goes off. So in the case that you are using a VPS then once the power is cut off you don’t have to worry about what will come out of your positions, because the VPS will still be functioning even if you cannot see it.

When you purchase a VPS from a reputable company you will also receive a security package, and constant security check ups to make sure your VPS’s security is up to date, this way you know you’re trading won’t be effected by a problem or a virus on your computer.

VPSs are much faster than a computer, and they will be much faster at transmitting orders than your computer. So by using a VPS you will be avoiding any form of slippage, and avoid any cases of losing money.

A VPS needs to have a good RAM to take the bare minimum of disk space on your computer, and even though it may be costly it is cheaper than buying an entirely new device to trade on and on the long run it can prove to be efficient.

XtreamForex Team:

XtreamForex is all around the globe, committed to provide superior Forex trading services. Our whole team is committed to offering industry leading products and services to both retail and institutional clients. XtreamForex team offers you a safe trading environment, competitive pricing, high-tech trading tools, best trading platform and fast and reliable trade order execution.
 

jimmyforex

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

EUR USD


EUR traded lower against USD and closed at 1.0964.

EUR/USD again aims for 1.0987 resistance - confluence while taking the bids to 1.0980 amid the initial trading session on Friday. 23.6% Fibonacci retracement, immediate support-line questions pair’s declines.

According to the Analysis, pair is expected to find support at 1.0949 and a fall through could take it to the next support level of 1.0935. The pair is expected to find its first resistance at 1.0993 and a rise through could take it to the next resistance level of 1.1007.

AUD USD

AUD traded higher against USD and closed at 0.6741.

AUD/USD is keeping gains despite the weaker-than-expected Aussie retail sales data. The pair may extend gains on dovish Federal Reserve expectations. RBA's Financial Stability Report cites housing market as key risk to the economy.

According to the Analysis, pair is expected to find support at 0.6713 and a fall through could take it to the next support level of 0.6701. The pair is expected to find its first resistance at 0.6753, and a rise through could take it to the next resistance level of 0.6765.

Important Economic Events of the Day
  • AUD: Australia Retail Sales m/m
  • USD: United States Nonfarm Payrolls
  • CAD: Ivey Canada Purchasing Managers Index (PMI)
  • USD: Federal Reserve System (Fed) Chair Powell Speech
For More information about the release time of news and its impact visit
 

jimmyforex

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

AUD USD

AUD traded lower against USD and closed at 0.6752.

AUD/USD -0.25% as China reacts to US House taking hard line over Hong Kong
China says US House should stop interfering in HKG
Undermined by weak AXJ currencies as PBOC Yuan fix on high side of forecasts

The "retail sales control group", published by US Census Bureau, represents the total industry sales that are used to prepare the estimates of PCE for most goods.

According to the Analysis, pair is expected to find support at 0.6744 and a fall through could take it to the next support level of 0.6733. The pair is expected to find its first resistance at 0.6780 and a rise through could take it to the next resistance level of 0.6791.

GBP USD

GBP traded lower against USD and closed at 1.2786.

The Consumer Price Index released by the National Statistics 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 GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or Bearish).

According to the Analysis, pair is expected to find support at 1.2646 and a fall through could take it to the next support level of 1.2600. The pair is expected to find its first resistance at 1.2796, and a rise through could take it to the next resistance level of 1.2842.

Important Economic Events of the Day
  • GBP: Consumer Price Index (YoY) (Sep)
  • GBP: BoEs Governor Carney Speech
  • USD: Retail Sales Control Group (Sep)
  • CAD: BoCs Consumer Price Index Core (YoY) (Sep)
For More information about the release time of news and its impact visit
 

jimmyforex

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

EUR USD

EUR traded lower against USD and closed at 1.1169.

EUR/USD's may have a hard time extending preceding three week's rally, courtesy of warning Brexit optimism. The common currency may face selling pressure if the European Union announces retaliatory tariffs on imports from the US.

According to the Analysis, pair is expected to find support at 1.1150 and a fall through could take it to the next support level of 1.1146. The pair is expected to find its first resistance at 1.1164 and a rise through could take it to the next resistance level of 1.1168.

AUD USD

AUD traded higher against USD and closed at 0.6855

• AUD/USD remains buoyant in Asia as hopes recede of an early RBA rate cut

• Bolstered by last week's upbeat AU jobs data, increasingly gloomy US data

• Australia home prices keep rising as auctions heat up in boost for economy

• Chance of Nov rate cut pared back to just 17% compared to 34% a week ago

According to the Analysis, pair is expected to find support at 0.6842 and a fall through could take it to the next support level of 0.6839. The pair is expected to find its first resistance at 0.6854, and a rise through could take it to the next resistance level of 0.6857.

USD JPY

USD traded higher against JPY and closed at 108.42

Although 200-day SMA becomes the key upside for USD/JPY, the quote refrains from further declines while taking rounds to 108.50 during early Monday. The pair is seesaws around four day low.

According to the Analysis, pair is expected to find support at 108.32 and a fall through could take it to the next support level of 108.27. The pair is expected to find its first resistance at 108.50, and a rise through could take it to the next resistance level of 108.55.

For more information:
 

jimmyforex

Member
Technical Overview of USD/CAD and EUR/USD Currency Pair

USD CAD

USD traded lower against CAD and closed at 1.3048.

USD/CAD is trimming gains on reports calling a victory for Canada's PM Trudeau. The pair may come under pressure if Trudeau forms a minority government with NDP's support.

Canada Retail Sales m/m show changes in the value of goods sold in retail stores in the specified month compared to the previous month. The indicator is calculated based on statistics from several thousand retail stores, and the data is then extrapolated to the whole country.

The indicator evaluates the consumer activity and inflation. The indicator growth can have a positive effect on CAD quotes.

Canada Core Retail Sales m/m reflects the change in retail sales in the reported month compared to the previous one. The indicator is calculated based on statistics from retail stores of different types and sizes. The index calculation does not include sales of autos and spare parts.

Retails Sales are an indicator of consumer activity in Canada, and an important component of national GDP. The indicator growth can have a positive effect on CAD quotes.

According to the Analysis, pair is expected to find support at 1.3077 and a fall through could take it to the next support level of 1.3063. The pair is expected to find its first resistance at 1.3123 and a rise through could take it to the next resistance level of 1.3137.

EUR USD

EUR traded higher against USD and closed at 1.1148.
  • Positive risk extends in Asia, E-mini S&P +0.1% and AsiaxJP stocks +0.3%
  • Flat in a low key 1.1147/1.1156 range - fundamentals unchanged look to techs
  • Charts - daily momentum studies, 5, 10 & 21 MAs head higher - bullish setup
  • Sustained cloud break, 1st since July - 1.1104 horizontal cloud top supports
According to the Analysis, pair is expected to find support at 1.1142 and a fall through could take it to the next support level of 1.1132. The pair is expected to find its first resistance at 1.1172, and a rise through could take it to the next resistance level of 1.1182.

Important Economic Events of the Day
  • CAD: Retail Sales m/m
  • CAD: Core Retail Sales m/m
  • USD: Existing Home Sales
For More information about the release time of news and its impact visit
 

jimmyforex

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

EUR USD

EUR traded higher against USD and closed at 1.1021
Early bounce on US data gives some relief to longs
Pair heavy on safe haven flows but holds above 61.8 Fib of 1.0879-1.1180
Daily RSI diverges & bull hammer forms, daily techs warn shorts
Monthly RSI still falling, says downside momentum could resume
Global growth concerns, soured risk could sink EUR/USD

According to the Analysis, pair is expected to find support at 1.1010 and a fall through could take it to the next support level of 1.0972. The pair is expected to find its first resistance at 1.1132 and a rise through could take it to the next resistance level of 1.1170.

USD JPY

USD traded higher against JPY and closed at 108.39.
  • USD/JPY's breaks key props at 108.50 , close is key
  • IMM USD/JPY specs long largely above 108 are at risk on 107.89/99 break
  • Treasury yields sliding faster than JGBs, '20 Fed cuts pricing back in
  • USD/JPY's topping formation reinforced by AUD/JPY's reversal
  • Risk flows could change on a dime if trade deal gets completed, signed
According to the Analysis, pair is expected to find support at 108.57 and a fall through could take it to the next support level of 108.56. The pair is expected to find its first resistance at 108.59, and a rise through could take it to the next resistance level of 108.60.

Important Economic Events of the Week (11 Nov, 19 to 15 Nov, 19)
  • USD: Retail Sales m/m
  • GBP: Retail Sales m/m
  • NZD: Electronic Card Retail Sales m/m
For More information about the release time of news and its impact visit
 

jimmyforex

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

AUD USD

AUD traded higher against USD and closed at 0.6784


Flat in a quiet tight 0.6785/0.6795 range as options contain

0.6785-95 1.1BLN and 0.6900 500M strikes dominated in Asia

Risk bounce in Asia after a soft week, Nikkei +0.6%, AsiaxJP +0.3%

Charts - momentum studies, 5, 10 & 21 DMAs head south - bearish setup

Dip recently stalled at 0.6769, which remains pivotal and vulnerable

NY 0.6783 low and earlier 0.6795 high initial support and resistance

According to the Analysis, pair is expected to find support at 0.6786 and a fall through could take it to the next support level of 0.6785. The pair is expected to find its first resistance at 0.6788 and a rise through could take it to the next resistance level of 0.6789.

GBP USD

GBP traded higher against USD and closed at 1.2913.


Cable saw steady interest and trades +0.1% in a 1.2903/1.2921 range

Conservatives to raise property purchase tax for non-UK residents

A revenue raiser that will be popular with UK voters

FT's poll tracker, Conservatives hot favorites, +13pts from +11 over Labour

Charts - 5, 10 & 21 DMAs gently edge higher - modest topside bias

Six week 1.2770/1.3012 range looks set to extend unless the USD trends

According to the Analysis, pair is expected to find support at 1.2917 and a fall through could take it to the next support level of 1.2916. The pair is expected to find its first resistance at 1.2923, and a rise through could take it to the next resistance level of 1.2924.

Important Economic Events of the Week (18 Nov, 19 to 24 Nov, 19)

CAD: Core Retail Sales m/m

EUR: ECB President Lagarde Speech

EUR: GDP q/q

SGD: GDP q/q

USD: EIA Crude Oil Stocks Change

For More information about the release time of news and its impact visit
 

jimmyforex

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

AUD USD

AUD traded higher against USD and closed at 0.6777.

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.

Reserve Bank of Australia (RBA) Governor Speech may contain information about the expected change in the bank's interest rates or in the monetary policy.

The Aussie dollar, a G-7 proxy for China, is not impressed by reports of US-China trade talks gaining momentum. AUD/USD failed to take out key average hurdle despite renewed trade optimism. RBA's Debelle said slower wage growth is a new norm in Australia.

According to the Analysis, pair is expected to find support at 0.6769 and a fall through could take it to the next support level of 0.6761. The pair is expected to find its first resistance at 0.6793 and a rise through could take it to the next resistance level of 0.6801.

NZD USD

NZD traded higher against USD and closed at 0.6416.

Retail Sales m/m reflects a change in New Zealand's retail sales in the reported month compared to the previous one. The calculation is adjusted for inflation. The index is often referred to as the consumer spending indicator, which allows assessing inflation in New Zealand. The indicator growth can have a positive effect on NZD quotes.

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.

• NZD/USD is facing pullback risks after multiple failures at the 100-day MA hurdle.
• A close above the key average will likely invite stronger buying pressures.

According to the Analysis, pair is expected to find support at 0.6400 and a fall through could take it to the next support level of 0.6392. The pair is expected to find its first resistance at 0.6426, and a rise through could take it to the next resistance level of 0.6434.

For More information about the release time of news and its impact visit
 

jimmyforex

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

GBP USD

GBP traded higher against USD and closed at 1.3155.
  • Flat in a 1.3153/1.3161 range, but decent interest once Asia fully opened
  • EUR/GBP saw modest volumes with a very tight 0.8438/0.8341 range
  • Conservative election victory expectations attracted fresh demand this week
  • Initial significant resistance at 1.3168/90, 50% 2018/19 fall and May high
  • 1.3168 capped in NY, but is under pressure - strong resistance into 1.3200
  • Close above 1.3200 would be a strong positive into the election next week
  • Sustained 1.3200 break would open the door to the 1.3380 2019 high in March
  • Close below the prior 1.3000 range high needed to undermine topside bias
According to the Analysis, pair is expected to find support at 1.3120 and a fall through could take it to the next support level of 1.3105. The pair is expected to find its first resistance at 1.3166 and a rise through could take it to the next resistance level of 1.3181.

USD JPY

USD traded lower against JPY and closed at 108.75.

USD/JPY's CTA positioning and notes that it's mainly close to neutral and sidelined around current levels.
"CTAs having held back on going long in the USD/JPY market (buying USD and selling yen) during the recent risk-on phase, they have managed to avoid simultaneous stock selling and yen buying.

CTAs' USD/JPY positions are close to neutral at present, and they are not currently moving either to buy or to sell.

"With the latent risk of yen appreciation being suppressed, if fundamentals-oriented investors begin tentatively dip-buying below 23,000, this downward move by the Nikkei 225 could be brought to a close relatively soon.

According to the Analysis, pair is expected to find support at 108.66 and a fall through could take it to the next support level of 108.58. The pair is expected to find its first resistance at 108.92, and a rise through could take it to the next resistance level of 109.00.

Important Economic Events of the day
  • JPY: Household Spending y/y
  • USD: Nonfarm Payrolls
  • USD: Baker Hughes US Oil Rig Count
  • CAD: Employment Change
For More information about the release time of news and its impact visit
 
one to one coaching
Top