| EURUSD: 1.1846 |
| Preferred Strategy: It looks as though the Euro is about to break the H/S neckline, in which case the objective is somewhere near 1.1560. Prefer to trade from the short side. Sell EurUsd @ 1.1880. SL @ 1.1940 TP @ 1.1735. | |||
| 24 Hour: Bearish | Medium Term: Prefer to sell rallies | ||
| Resistance | Support | ||
| 1.1980 | Minor | 1.1831 | Session low |
| 1.1950 | Minor | 1.1822 | 31 Aug low |
| 1.1935 | Session high /200 HMA/100 HMA | 1.1800 | Rising trend support |
| 1.1900 | Minor | 1.1772 | 25 Aug low |
| 1.1880 | Minor | 1.1730 | (23.6% of 1.1570/1.2091) |
Economic data highlights will include:
T: US Case Shiller House Price Index, New Home Sales, Richmond Fed Mfg Index, API weekly Crude Oil Stock Inventory
…
| USDJPY: 111.72 |
| Preferred Strategy: The charts are mixed, with the short term momentum indicators hinting at further near term dollar weakness, while the dailies still remain positive. I would therefore remain square today or look to buy into weakness towards 111.00. Note that there are some decent support points ahead of 111.00, which may help to prop the dollar up. BOJ Minutes later. | |||
| 24 Hour: Mildly Bearish. | Medium Term: Mildly Bullish | ||
| Resistance | Support | ||
| 112.78 | (76.4% of 114.49/107.32) | 111.52 | Daily cloud top |
| 112.71 | 21 Sept high | 111.46 | Session low /200 HMA |
| 112.52/54 | Session high/Friday high | 111.35 | Weekly cloud top |
| 112.20 | Minor | 111.10/00 | 100 DMA /100 WMA |
| 112.00 | 110.65 | (38.2% of 107.31/112.71) | |
Economic data highlights will include:
T: BOJ Minutes
…
| GBPUSD: 1.3463 |
| Preferred Strategy: The charts had been somewhat positive but any upside momentum seems to be waning so a neutral stance is currently required. Perhaps look to trade the range of 1.34/1.35, with a 30 point SL on each side. | |||
| 24 Hour: Prefer to sell rallies | Medium Term: Neutral | ||
| Resistance | Support | ||
| 1.3610 | 18 Sept high | 1.3450 | Minor |
| 1.3595 | Friday high | 1.3430 | Session low |
| 1.3570 | Session high | 1.3400 | (23.6% of 1.2588/1.3656)/Rising trend support |
| 1.3520 | 100 HMA | 1.3375 | Minor |
| 1.3500 | Minor | 1.3320 | (23.6% of 1.2588/1.3656) |
Economic data highlights will include:
T: Inflation Report Hearing
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| USDCHF: 0.9663 |
| Preferred Strategy: The Chf was in demand today following the German election result, with the dollar falling hard to a low of 0.9642. Stay square for now. | |||
| 24 Hour: Neutral | Medium Term: Neutral | ||
| Resistance | Support | ||
| 0.9772 | 8 Aug high/(38.2% of 1.0343/0.9420) | 0.9641 | Session low |
| 0.9746 | Session high/21 Sept high | 0.9622 | (38.2% of 0.9420/0.9746) |
| 0.9725 | Minor | 0.9600 | Minor |
| 0.9700 | Minor | 0.9587 | 20 Sept low |
| 0.9680 | Minor | 0.9565 | 15 Sept low |
…
| AUDUSD: 0.7935 |
| Preferred Strategy: While the dailies look heavy, the short term momentum indicators are fairly neutral so another rangebound session may be in store. I prefer to be short but would not chase it lower. Sell into near term strength towards 0.7960/70 with a SL above 0.8000. TP @ 0.7865. | |||
| 24 Hour: Neutral – Prefer to sell rallies | Medium Term: Mildly Bearish | ||
| Resistance | Support | ||
| 0.8055 | Minor | 0.7925 | Session low |
| 0.8035 | 21 Sept high | 0.7907 | Friday low |
| 0.7995 | 200 HMA | 0.7876 | Daily cloud top |
| 0.7985 | Friday high | 0.7866 | 24 Aug low |
| 0.7973 | Session high | 0.7850 | Minor |
…
| NZDUSD: 0.7262 |
| Preferred Strategy: The Kiwi is lower today following the election result but the dailies are neutral, so standing aside for the coming session seems to be a prudent move. The 4 hour charts point lower so possibly selling into strength above 0.7300 may be a plan. SL @ 0.7330. TP @ 0.7200. | |||
| 24 Hour: Neutral | Medium Term: Neutral | ||
| Resistance | Support | ||
| 0.7363 | 21 Sept high | 0.7251/47 | Session low /(61.8% of 0.7131/0.7434) |
| 0.7343 | Friday high | 0.7235 | Minor |
| 0.7327 | Session high | 0.7215 | Minor |
| 0.7315 | 200 HMA | 0.7200 | (76.4% of 0.7131/0.7434) |
| 0.7290 | 100 HMA | 0.7183 | 14 Sept low |
Economic data highlights will include:
T: Trade Balance, ANZ Activity Outlook
By September 26, 2017
Source: FXCharts