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

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

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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

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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

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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

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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

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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