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Forex in Risk-Off Mode

Created 11/14/2019 at 10:20AM

CHF and JPY are the top G10 FX gainers today, up 0.26% and 0.22% vs the dollar while AUD and NZD are the top losers, down -0.61% and -0.27% vs the dollar. Weak Chinese data and Worries over Beijing and Washington trade deal pushed investors to safe-haven assets. The Australian dollar fell after weak domestic employment data raised fears that RBA may loosen policy once again. In the Asian equities space, the Nikkei 225 closed lower -0.76% at 23,141.55, Hang Seng closed -0.93% at 26323.69 and Kospi ended 0.79% at 2139.23. The European equities were trading weaker with the FTSE down -0.39% at 7322.42, DAX down -0.23% at 13200.25, and CAC down -0.01% at 5906.24. In the rates market, global yields were trading weaker; the US 10-year yield was trading at 1.8376% and the Bund 10-year yield trading at -0.327%. In the energy space, the Brent (front month) is trading up (0.71%) for the day at $62.81.


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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)


(Content and Data by Tradermade)


Major Currency Pairs


EURUSD Chart (Two-week)


Strategy: Resistance at 1.1037 for 1.0950
Short-term view: EUR/USD resistance at 1.1061, MACD and RSI are weak. Hence, we see a move to 1.1000, likely 1.0950. Above 1.1061 to open 1.1194.


GBPUSD Chart (Two-week)


Strategy: Resistance at 1.2900, for 1.2750
Short-term view: GBP/USD resistance at 1.2900, MACD and RSI are weak. We see dip to 1.2750, likely 1.2700. Above 1.2900 to open 1.2950.


USDJPY Chart (Two-week)


Strategy: Resistance at 109.01 for 108.01
Short-term view: USD/JPY has resistance around 109.01, MACD and RSI are weak. Hence, we see a move lower to 108.01, likely 107.64. Above 109.01 opens 109.47.


AUDUSD Chart (Two-week)


Strategy: Resistance at 0.6862 for 0.6780
Short-term view: AUD/USD MACD and RSI are weak and resistance at 0.6862. A move towards 0.6820 likely 0.6780. Above 0.6862 to open 0.6920.