25 Sept: Forecast: FX: US$/Majors + Trade Ideas: FXCharts

EURUSD: 1.1905
Preferred Strategy: The dallies remain negative so selling into strength is preferred. Sell EurUsd @ 1.1960. SL @ 1.2010. TP @1.1600
24 Hour: Neutral. Medium Term: Prefer to sell rallies
Resistance Support
1.2055 Minor 1.1900 Minor
1.2033 20 Sept high 1.1885 Minor
1.2003 Friday high 1.1860 (23.6% of 1.1118/1.2091)/20 Sept low
1.1980 Minor 1.1838 14 Sept low
1.1955/60 200 HMA/100 HMA 1.1800 Minor

Economic data highlights will include:

M: German IFO, Chicago Fed National Activity Index, Dallas Fed Mfg Business Climate

T: US Case Shiller House Price Index, New Home Sales, Richmond Fed Mfg Index, API weekly Crude Oil Stock Inventory

W: US Durable Goods, Pending Home Sales, EIA weekly crude oil stock change

T: German Consumer Confidence, CPI, EU Economic Sentiment Indicator, Industrial Confidence, Services Sentiment, Business Climate, US Jobless Claims, Q2 GDP, Kansas Fed Mfg Activity, Personal Consumption/Expenditure Q2

F: German Retail Sales, Unemployment, US Personal Consumption/Expenditure Index, Michigan Consumer Sentiment Index



USDJPY: 111.99
Preferred Strategy: Although the short term charts look toppish, the dailies still look positive so buying dips is preferred. Buy US$Jpy @ 111.70. SL @ 110.90. TP @ 113.15.
24 Hour: Neutral Medium Term: Mildly Bullish
Resistance Support
113.00 Minor 111.80 Minor
112.78 (76.4% of 114.49/107.32) 111.64 Friday low
112.71 21 Sept  high 111.52 Daily cloud top
112.54 Friday high 111.35 Weekly cloud top
112.20 Minor 111.10 100 DMA

Economic data highlights will include:

M: Nikkei Mfg PMI, Japan Leading Economic Index, Coincident Index

T: BOJ Minutes

W:

T: Foreign Bond/Stocks Investment

F: CPI, Retail Trade, Industrial Production, Unemployment



GBPUSD: 1.3496
Preferred Strategy: Sterling seems to have run out of some steam on the topside so a neutral stance is currently required as some choppy conditions seem likely early in the week.
24 Hour: Neutral Medium Term: Neutral
Resistance Support
1.3610 18 Sept high 1.3465 Minor
1.3595 Friday high 1.3449/45 Friday low/(23.6% of 1.2777/1.3656)
1.3570 Minor 1.3425 Minor
1.3450 Minor 1.3400 (23.6% of 1.2588/1.3656)
1.3430 100 HMA 1.3375 Minor

Economic data highlights will include:

M: FPC Statement

T: Inflation Report Hearing

W: Q2 GDP, Current Account, CBI Industrial Trends Survey – Realised

T:

F: CPI



USDCHF: 0.9708
Preferred Strategy: Neutral
24 Hour: Neutral Medium Term: Neutral
Resistance Support
0.9808 30 May high 0.9667/70 Friday low/(23.6% of 0.9420/0.9746)
0.9772 8 Aug high/(38.2% of 1.0343/0.9420) 0.9650 Minor
0.9746 21 Sept  high 0.9622 (38.2% of 0.9420/0.9746)
0.9725 Minor 0.9600 Minor
0.9708 Friday high 0.9587 20 Sept low


AUDUSD: 0.7961
Preferred Strategy: AudUsd looks heavy on the daily charts although it attempting a short term recovery so selling rallies towards 0.7970/85 seems to be a plan, looking for an eventual retest of 0.7900. Sell Audusd @ 0.7975. SL @ 0.8010. TP @ 0.7885
24 Hour: Neutral Medium Term: Mildly Bearish
Resistance Support
0.8055 Minor 0.7945 Minor
0.8035 21 Sept  high 0.7925 Minor
0.7995 200 HMA 0.7907 Friday low
0.7985 Friday high /100 HMA 0.7876 Daily cloud top
0.7975 Minor 0.7866 24 Aug low


NZDUSD: 0.7304
Preferred Strategy: An early Monday gap lower, following the weekend election, is now being filled in. Stay square for the time being. The dailies are hinting at the chance of some mild upside momentum.
24 Hour: Neutral Medium Term: Neutral
Resistance Support
0.7433 20 Sept high 0.7310 100 HMA
0.7400 Minor 0.7290 200 HMA
0.7380 Minor 0.7280 Friday low
0.7363 21 Sept  high 0.7250 Minor
0.7343 Friday high 0.7215 Minor

Economic data highlights will include:

M:

T: Trade Balance, ANZ Activity Outlook

W:

T: RBNZ Interest Rate Decision/Statement

F: Building Permits

By | September 25, 2017
Source: FXCharts

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