| EURUSD: 1.1734 |
| Preferred Strategy: While we may need some short term consolidation, the dailies are looking heavy and selling rallies is preferred. Sell EurUsd @ 1.1780. SL @ 1.1820, TP @ 1.1650. | |||
| 24 Hour: Neutral – Prefer to sell rallies | Medium Term: Prefer to sell rallies | ||
| Resistance | Support | ||
| 1.1860 | 26 Sept high / (50% of 1.2005/1.1716) | 1.1729 | Session low |
| 1.1825 | (38.2% of 1.2005/1.1716) | 1.1720/16 | (38.2% of 1.1118/1.2091)/Daily cloud top/27 Sept low |
| 1.1815 | Session high | 1.1700 | Minor |
| 1.1800 | Minor | 1.1685 | Minor |
| 1.1780 | Minor | 1.1661 | 17 Aug low |
Economic data highlights will include:
T: EU PPI, Fed’s Powel Speech, ISM NY Index – Business Conditions, API Weekly Crude Oil Stock Inventory
…
| USDJPY: 112.72 |
| Preferred Strategy: Short term choppy trade looks likely but I think the dollar is likely to head higher eventually so buying dips is preferred. Buy UsdJpy @ 112.30. SL @ 111.90, TP @ 113.20 | |||
| 24 Hour: Neutral | Medium Term: Mildly Bullish – Prefer to buy dips | ||
| Resistance | Support | ||
| 113.70 | Minor | 112.43 | Session low |
| 113.55 | Minor | 112.32 | 29 Sept low |
| 113.20/25 | 29 Sept high/27 Sept high | 112.20 | 27 Sept low |
| 113.05 | Session high | 112.05 | 200 DMA /Daily Tenkan |
| 112.85 | Minor | 111.80 | Minor |
Economic data highlights will include:
T: Consumer Confidence
…
| GBPUSD: 1.3278 |
| Preferred Strategy: Cable is heavy and looks as though it has further downside potential. The upcoming Construction PMI will be closely watched and the risk is probably to a better than expected figure. Stay square till then and then go with the flow. Given that the US$ looks bid though trading from the short side is preferred. | |||
| 24 Hour: Neutral | Medium Term: Prefer to sell rallies | ||
| Resistance | Support | ||
| 1.3390 | 100 HMA | 1.3255 | Session low |
| 1.3375 | Minor | 1.3243 | (38.2% of 1.2588/1.3656) |
| 1.3345 | (23.6% of 1.3656/1.3255) | 1.3213 | (50% pivot of 1.2773/1.3656) |
| 1.3325 | Minor | 1.3180 | Minor |
| 1.3300 | Minor | 1.3149 | 14 Sept low |
Economic data highlights will include:
T: UK Construction PMI
…
| USDCHF: 0.9748 |
| Preferred Strategy: US$Chf is choppy but is closing on a positive note and I suspect that at some stage soon we are in for another test of 0.9770. Trading from the long side is preferred or look to buy a break of 0.9770.Buy US$Chf @ 0.9715. SL @ 0.9680, TP @ 0.9805. | |||
| 24 Hour: Prefer to buy dips | Medium Term: Neutral – Buy a break of 0.9770 | ||
| Resistance | Support | ||
| 0.9808 | 30 May high | 0.9725 | Minor |
| 0.9785 | Minor | 0.9700 | Minor |
| 0.9772 | 8 Aug high/(38.2% of 1.0343/0.9420) | 0.9676 | Session low |
| 0.9769 | 27 Sept high | 0.9641 | 25 Sept low |
| 0.9758/54 | 29 Sept high /Session high | 0.9635 | (38.2% of 0.9420/0.9769) |
…
| AUDUSD: 0.7825 |
| Preferred Strategy: The RBA will provide the direction today and although I prefer to be short for the medium term trade we could yet see a spike higher so looking to sell rallies is preferred. Sell AudUsd @ 0.7870. SL @ 0.7905, TP @ 0.7785. | |||
| 24 Hour: Mildly Bullish | Medium Term: Mildly Bearish | ||
| Resistance | Support | ||
| 0.7935 | (38.2% of 0.8102/0.7835) | 0.7815 | Minor |
| 0.7900 | (23.6% of 0.8102/0.7835) | 0.7800 | Minor |
| 0.7882 | 27 Sept high | 0.7794 | Session low |
| 0.7859 | 29 Sept high | 0.7785 | 18 July low |
| 0.7847 | Session high | 0.7760 | Minor |
Economic data highlights will include:
T: New Home Sales, Building Permits, RBA Interest Rate Decision
…
| NZDUSD: 0.7190 |
| Preferred Strategy: The Kiwi is still chopping around near 0.7200 and now has a triple bottom at 0.7165. A neutral stance is currently required although I do prefer to sell into strength, looking for an eventual break lower, initially targeting the 200 DMA.NB. The NZ Business Confidence has just been released – falling hard from 18 to 5 – an 18 month low. This won’t do the Kiwi any good and the increasing preference is to sell into strength. Note that the latest GDT figure will be released in London. | |||
| 24 Hour: Neutral | Medium Term: Neutral | ||
| Resistance | Support | ||
| 0.7285 | Minor | 0.7180 | Minor |
| 0.7268 | (38.2% of 0.7434/0.7166) /200 HMA | 0.7167/66 | 26 Sept low/29 Sept low/Session low |
| 0.7255 | Minor | 0.7142/47 | 4 Sept low/200 DMA |
| 0.7238/39 | 29 Sept high/27 Sept high | 0.7131 | 31 Aug low |
| 0.7225 | Session high | 0.7105 | (61.8% of 0.6817/0.7558) |
Economic data highlights will include:
T: NZIER Business Confidence, Global Dairy Trade Index, API Weekly Crude Oil Stock Inventory
By October 3, 2017
Source: FXCharts