| EURUSD: 1.1742 |
| Preferred Strategy: The short term momentum indicators look a little more positive today so the downside momentum that is building in the dailies looks to be on hold for the coming session. A squeeze back towards 1.1800 would not surprise, but selling rallies remains the preferred strategy. Sell EurUsd @ 1.1800. SL @ 1.1840, TP @ 1.1650. | |||
| 24 Hour: Neutral – Prefer to sell rallies | Medium Term: Prefer to sell rallies | ||
| Resistance | Support | ||
| 1.1850 | (50% pivot of 1.2005/1.1995) | 1.1725 | Minor |
| 1.1832 | 29 Sept high | 1.1700 | 200 WMA |
| 1.1815 | 2 Oct high /(38.2% of 1.2005/1.1995) | 1.16955 | Session low |
| 1.1800 | Minor | 1.1661 | 17 Aug low |
| 1.1773 | Session high | 1.1612 | 26 July low |
Economic data highlights will include:
W: ECB Non- MP Minutes, EU Composite, Services PMIs, EU Retail Sales, US Services, Composite PMIs, ISM Non-Mfg PMI, ADP Jobs data, EIA Crude Oil Stocks Weekly Change, Mario Draghi Speech, Janet Yellen Speech
…
| USDJPY: 112.86 |
| Preferred Strategy: The dollar looks a little top heavy after another failed attempt above 113.00 and we may head a little lower. It may be though that we are in for further choppy trade and I think the dollar will head higher eventually, so buying dips is preferred. Buy UsdJpy @ 112.25. SL @ 111.90, TP @ 113.20 | |||
| 24 Hour: Neutral | Medium Term: Mildly Bullish – Prefer to buy dips | ||
| Resistance | Support | ||
| 114.00 | Minor | 112.61 | Session low |
| 113.70 | Minor | 112.43 | 2 Oct low |
| 113.55 | Minor | 112.32 | 29 Sept low |
| 113.19/20/25 | Session high /29 Sept high/27 Sept high | 112.20 | 27 Sept low |
| 113.00 | Minor | 112.05 | 200 DMA /Daily Tenkan |
…
| GBPUSD: 1.3236 |
| Preferred Strategy: Cable remains heavy following the poor outcome from the UK Construction PMI and further medium term downside momentum seems likely. The short term momentum indicators are becoming a little oversold so for the time being it is best to stay square, and looking to sell rallies would seem to be the plan. | |||
| 24 Hour: Neutral | Medium Term: Prefer to sell rallies | ||
| Resistance | Support | ||
| 1.3375 | Minor | 1.3221 | Session low |
| 1.3345 | (23.6% of 1.3656/1.3255) | 1.3213 | (50% pivot of 1.2773/1.3656) |
| 1.3315 | 100 WMA | 1.3180 | Minor |
| 1.3300 | Minor | 1.3149 | 14 Sept low |
| 1.3287 | Session high | 1.3110 | (61.8 of 1.2773/1.3656) |
…
| USDCHF: 0.9736 |
| Preferred Strategy: For the time being US$Chf remains within its choppy uptrend, but having made a new high at 0.9785 the dollar is currently looking a bit heavy at 0.9735, with the short term momentum indicators suggesting that further weakness may lie ahead today. The dailies still look positive, so buying dips remains the favoured plan, looking for an eventual run to/beyond 0.9800. Buy US$Chf @ 0.9710. SL @ 0.9665, TP @ 0.9805. | |||
| 24 Hour: Prefer to buy dips | Medium Term: Mildly Bullish | ||
| Resistance | Support | ||
| 0.9850 | 200 WMA | 0.9728 | Session low |
| 0.9840 | 200 DMA | 0.9710 | 200 HMA /Rising trend support |
| 0.9808 | 30 May high | 0.9885 | Minor |
| 0.9785 | Session high | 0.9676 | 2 Oct low |
| 0.9750 | Minor | 0.9650 | 100 DMA |
…
| AUDUSD: 0.7832 |
| Preferred Strategy: Having been down to 07785 the Aud has recovered well and looks as though it may have formed a short term base, with the chance of a squeeze back towards 0.7875/85. The dailies still look heavy though, so selling into strength remains the medium term strategy. | |||
| 24 Hour: Mildly Bullish | Medium Term: Mildly Bearish | ||
| Resistance | Support | ||
| 0.7925 | Minor | 0.7820 | Minor |
| 0.7905 | (38.2% of 0.8102/0.7785) | 0.7800 | Minor |
| 0.7882 | 27 Sept high | 0.7785 | Session low/18 July low |
| 0.7859 | (23.6% of 0.8102/0.7785) | 0.7767 | 100 DMA |
| 0.7847 | 2 Oct high | 0.7750 | Minor |
Economic data highlights will include:
W: AIG Services PMI
…
| NZDUSD: 0.7157 |
| Preferred Strategy: The Kiwi remains heavy following the Milk Auction (GDT PI -2.4%, WMP -2.7%) and the techs look bearish so trading from the short side is preferred. Given the slightly heavy feel of the US$ elsewhere, looking to sell any near term rally towards 0.7200 would seem to be the plan. | |||
| 24 Hour: Neutral | Medium Term: Neutral | ||
| Resistance | Support | ||
| 0.7250 | Minor | 0.7142/47 | 4 Sept low/200 DMA/Session low |
| 0.7238/39 | 29 Sept high/27 Sept high | 0.7131 | 31 Aug low |
| 0.7225 | 2 Oct high/23.6% of 0.7434/0.7157 | 0.7100 | (61.8% of 0.6817/0.7558) |
| 0.7197 | Session high | 0.7085 | Minor |
| 0.7180 | Minor | 0.7070 | Minor |
By October 4, 2017
Source: FXCharts