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Brexit Blue Returns, Here's Why

Created 10/17/2019 at 09:25AM


AUD and NZD are the top G10 FX gainers today, up 0.71% and 0.4% vs the dollar while GBP and NOK are the top losers, down -0.18% and -0.09% vs the dollar. NOK fell to an all-time low versus the euro, reaching 10.1800; lack of risk appetite may have contributed to the move.

 

The dollar remained near one-month low as weak data raised fears that the U.S. economy may be slowing. The British pound remained the top loser as Brexit fears returned after Northern Ireland's DUP said that it cannot support the current Brexit deal.

 

In the Asian equities space, the Nikkei 225 closed 0.09% lower at 22,451.86, Hang Seng closed 0.69% at 26848.49 and Kospi ended -0.23% at 2077.94. The European equities were trading firm with the FTSE up +0.39% at 7195.72, DAX up +0.2% at 12694.86, and CAC up +0.04% at 5699.41. In the rates market, global yields were trading firmer; the US 10-year yield was trading at 1.7535% and the Bund 10-year yield trading at -0.374%. In the energy space, the Brent (front month) is trading down (-0.52%) for the day at $59.11.

 

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Daily Pivots for Key Currency Pairs

 
 

Economic Calendar

 
 

10-year Yields Chart (6-month)

 
 

Brent Front Month Daily Chart (6-month)

 
 

USD-Index Daily Chart (6-month)

 
 

Trade Weighted Basket Hourly (two-week)

 
 

(Content and Data by Tradermade)

 

Major Currency Pairs

 

EURUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.1097 for 1.1000
Short-term view: EUR/USD resistance at 1.1097, MACD and RSI are giving mixed signals. Hence, we see a move to 1.1000. Above 1.1097 to open 1.1167.

 

GBPUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.2900 for 1.2650
Short-term view: GBP/USD resistance at 1.2900, MACD and RSI are weak. We see risk of a dip to 1.2750, likely 1.2650. Above 1.2900 to open 1.2961.

 

USDJPY Chart (Two-week)

 
 

Strategy: Resistance at 109.15 for 108.00
Short-term view: USD/JPY has resistance around 109.15, MACD and RSI are topping out. Hence, we see a move lower to 108.43, likely 108.01. Above 109.15 opens 109.47.

 

AUDUSD Chart (Two-week)

 
 

Strategy: Resistance at 0.6830 for 0.6740
Short-term view: AUD/USD MACD and RSI are lacks upside momentum and resistance at 0.6830 for a move lower towards 0.6740, likely 0.6700. Above 0.6830 to open 0.6869.