Forex Outlook as Risk Appetite Wane

Updated 09:17AM 16/10/2019

CHF and JPY are the top G10 FX gainers today, up 0.18% and 0.15% vs the dollar while NOK and GBP are the top losers, down -0.54% and -0.38% vs the dollar. The U.S dollar is headed for a 4-week low on worries that rising trade tensions between the U.S. and China will continue to weigh down on global growth. Risk appetite was lacking with the Japanese Yen and Swiss Franc firming and AUD falling.


The British Pound fell from its 5-month highs as talks to secure a Brexit deal continue and are likely to go down to the very end. The volatility in Sterling is likely to remain high with any outcome to cause sharp moves.


In the Asian equities space, the Nikkei 225 closed up +1.20% at 22,472.92, Hang Seng closed 0.61% at 26664.28 and Kospi ended 0.71% at 2082.83. The European equities were trading weaker with the FTSE down -0.21% at 7196.82, DAX down -0.11% at 12615.95, and CAC down -0.3% at 5684.99. In the rates market, global yields were trading mixed; the US 10-year yield was trading at 1.729% and the Bund 10-year yield trading at -0.421%. In the energy space, the Brent (front month) is trading down (-0.34%) for the day at $58.54.


Our New Free Forex Analysis Website is also a mobile app on Android devices Features live Forex Charts with 10+ indicators, Pivots, Forex News, ABCD Fibonacci Patterns, Intra-day Analysis for more than 20+ forex pairs, Movements vs USD, Candlestick Pattern Recognition, Market High/Low Alerts, Custom RSS News Feed.



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 1.1061 for 1.1000
Short-term view: EUR/USD resistance at 1.1060, MACD and RSI are looking to move lower. Hence, we see a move to 1.1000, likely 1.0950. Above 1.1060 to open 1.1120.


GBPUSD Chart (Two-week)


Strategy: Resistance at 1.2802 for 1.2572
Short-term view: GBP/USD resistance at 1.2802, MACD and RSI are weak. We see risk of a dip to 1.2572. Above 1.2802 to open 1.2900.


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 108.00, likely 107.64. Above 109.15 opens 109.47.


AUDUSD Chart (Two-week)


Strategy: Resistance at 0.6774 for 0.6700
Short-term view: AUD/USD MACD and RSI are weak, resistance at 0.6774 for a move lower towards 0.6700, likely 0.6650. Above 0.6774 to open 0.6830.

Most Recent Posts
Risk On Risk Off Continues in the FX Market

Updated: May 18, 2020 10:00 UTC

Risk Off on Second Wave Worries Ahead of The Weekend

Updated: May 15, 2020 09:20 UTC

Forex Driven by Coronavirus Second Wave Worries

Updated: May 12, 2020 09:11 UTC

Risk On As Major Economies Lift Lock-down

Updated: May 11, 2020 10:56 UTC

BoE Helps Pound But Market Still Risk Averse

Updated: May 07, 2020 09:39 UTC

Pound Weakens, Yen at Multi Week High

Updated: May 06, 2020 09:32 UTC

Oil Rallies but Trade War Fears Remain

Updated: May 05, 2020 08:15 UTC

Trump Reignites Trade War Fears

Updated: May 01, 2020 09:06 UTC

Oil Recovery Helps Sentiments

Updated: Apr 30, 2020 10:28 UTC

Risk Sentiments Up With a Vaccine in Sight

Updated: Apr 29, 2020 09:18 UTC

FX Outlook Ahead of ECB and Fed

Updated: Apr 28, 2020 08:47 UTC

Boris Returns but Lock-down Extension May Weigh Heavy Sterling

Updated: Apr 27, 2020 08:58 UTC

Sterling Likely to Struggle, Here's Why?

Updated: Apr 24, 2020 08:36 UTC

Oil Surge Dollar Fell, What Next?

Updated: Apr 23, 2020 10:08 UTC

Crude Oil Making Financial Markets Nervous

Updated: Apr 22, 2020 10:37 UTC

Crude Oil Fall Unnerves Markets, What to Do

Updated: Apr 21, 2020 08:58 UTC

Sterling in Trouble, Risk Sentiments Fragile

Updated: Apr 20, 2020 09:05 UTC

Coronavirus - We Have Not Seen the Bottom Yet

Updated: Apr 17, 2020 08:55 UTC

Economic Downturn Likely to Worsen Further, Here's Why

Updated: Apr 16, 2020 09:21 UTC

Riskier Assets Vulnerable Here's Why

Updated: Apr 15, 2020 09:03 UTC