Daily Forex News By XtreamForex.com

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Re: Daily Forex News By XtreamForex.com

Beitragvon xtreamforex26 » 09.04.2019, 09:07

Gold Prices moves around $1300 as Bulls concentrates on Geopolitics

The news reports signaling the US-EU trade rift and likely renewed geopolitical tensions between the US and Saudi Arabia triggered risk-off.
Buyers target 50-day SMA during further upside.

Gold prices are taking the rounds near $1297 early on Tuesday as investors give more emphasis to the latest news reports signaling an increase in global geopolitical tension.

According to the analysis XAUUSD.x pair is expected to find support at 1291.14 and a fall through could take it to the next support level of 1285.14. The pair is expected to find its first resistance at 1303.41, and a rise through could take it to the next resistance level of 1309.68.

Previous Day range was 12.27 and Current Day Range is 34800.

The yellow metal rose to a two-week high on Monday as conflict in Libya and the US President’s another hit to Iran grabbed market concentration. Headlines regarding the Libyan National Army’s March to obtain the capital Tripoli and Donald Trump declaring Iran's revolutionary guard as a terrorist organization helped the Gold to remain strong yesterday.
During early Tuesday, investors welcomed the development from the UK that favored an amendment rejecting no-deal Brexit.
However, the hopefulness couldn’t last long after the Financial Times reported that the US is proposing tariffs worth $11 billion on the EU products, as well as the Airbus.
The risk-off sentiment got supplementary support when the Trump administration announced a ban on 16 Saudi nationals from entering the U.S. due to their roles in the murder of journalist Jamal Khashoggi. Saudi Arabia is still to respond to the ban and may generate news reports during the day.
Yields on the US 10-year note remained unchanged near 2.519%.
Investors may now concentrate more on the qualitative catalysts like Brexit and the geopolitical plays including the US.
xtreamforex26
 
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Re: Daily Forex News By XtreamForex.com

Beitragvon xtreamforex26 » 14.06.2019, 08:11

Technical Overview of USD/CNH Currency Pair

USD CNH

USD traded higher against CNH and closed at 6.9286
G-20 Meeting Ahead on 28th June for US China Issues!

4 Possible outcomes at the coming G20 meeting:
(1) President Xi does not show at the G20 and the US imposes more tariffs - USDCNH likely breaks 7.00 fairly quickly.
(2) Xi and Trump meet but talks do not go well and US threatens further tariffs - USDCNH likely breaks 7.00 but more gradually.
(3) Status quo scenario: Xi and Trump meet, agree to disagree, tariffs go up as planned but USDCNH likely tests 7.00 later in July.
(4) Max bull scenario: Xi and Trump meet, agree to re-start negotiations in coming weeks, risk bounces, USDCNH to 6.80-85.

According to the Analysis, The USD/CNH is expected to find support at 6.92356, and a fall through could take it to the next support level of 6.91848. The pair is expected to find its first resistance at 6.93474, and a rise through could take it to the next resistance level of 6.94084.

For Detailed analysis visit XtreamForex YouTube Channel.
xtreamforex26
 
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Re: Daily Forex News By XtreamForex.com

Beitragvon xtreamforex26 » 17.06.2019, 06:16

Technical Overview of AUD/USD, CHF/JPY, AUD/CAD and EUR/JPY Currency Pair

AUD USD

AUD traded higher against USD and closed at 0.6869.
1 - 1 month long consolidation 0.6850-0.7000 threatens to be below because of the rate cut news.
2 - RBA will be cutting rates to 0.75% till November.
3 - On a daily chart we see a perfect resistance trend line indicating a downwards movement
4 - On daily chart the 1Month long support level can be seen
5 - The pair is below Yearly, Quarterly, Weekly and monthly pivots
6 - We can expect a bearish sentiment in the AUD till November as we know there may be massive rate cuts (4) Max bull scenario: Xi and Trump meet, agree to re-start negotiations in coming weeks, risk bounces, USDCNH to 6.80-85.
According to the Analysis, The AUD/USD is expected to find support at 0.68478, and a fall through could take it to the next support level of 0.68260. The pair is expected to find its first resistance at 0.69046, and a rise through could take it to the next resistance level of 0.69396.

CHF JPY

CHF traded lower against JPY and closed at 108.654.
As we already see that market is in a risk aversion state. There is more room for USDJPY to do down. China and Russia are shaking hands against USD, This may strengthen the CHY and devaluate the USD.
Keep in mind that now a day’s its only fundamentals that are playing in the market. In my opinion The strong currencies are JPY CHF CNY and Weak are USD GBP AUD.

According to the Analysis, The CHF/JPY is expected to find support at 108.384, and a fall through could take it to the next support level of 108.113. The pair is expected to find its first resistance at 109.020, and a rise through could take it to the next resistance level of 109.385.

AUD CAD

AUD traded higher against CAD and closed at 0.9212.
Fundamentally we know that AUD is weaker due to 2 rate cuts expected in 2019 and low to 0.75% basis points. Hence we can compare it with the strength of CAD.
Here we see that the pair has found a support at the low from 01.03.2019.
As this is a very major support and has been the low of last year, we may expect a short term bounce but the Fundamental bias is towards South.

According to the Analysis, The CHF/JPY is expected to find support at 0.91924, and a fall through could take it to the next support level of 0.91728. The pair is expected to find its first resistance at 0.92257, and a rise through could take it to the next resistance level of 0.92394.

EUR JPY

EUR traded higher against JPY and closed at 121.677.
Risk Aversion is an open secret now. We all know that the investors are after the strength of CHF and JPY. Here in the EURJPY we see 5 bullish candles moving ahead to the 5-day ADR
Monthly Pivot
Weekly Pivot
So, we can expect a breakout from the ADR high or
A low volume test candle signaling a bearish continuation.

According to the Analysis, The EUR/JPY is expected to find support at 121.422, and a fall through could take it to the next support level of 121.168. The pair is expected to find its first resistance at 122.095, and a rise through could take it to the next resistance level of 122.514.

Fundamentals of the Day

BCC announced that it may see a slowed growth in the British Chamber of Commerce.
As this announcement may have a negative impact on the GBP, Its advised to stay short on GBP.

The People’s Bank of China (PBOC), China's central bank, announced on Monday that the second phase of a cut in the reserve requirement ratio. This process is adapted by economies who want to stabilize their economy. Keep in mind that there is G-20 Meeting ahead, that’s why China is Stabilizing itself to face any sort of bad effect of the meeting.

For Detailed analysis visit XtreamForex YouTube Channel.
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