Send us a message! +44 (0)208 313 0992 Twitter Logo FaceBook Logo
Kingfisher House, 21-23 Elmfield Road, Bromley, Kent

Created 08/06/2019 at 09:16AM

FX Strategy 06 Aug 19

 

AUD and NOK are the top G10 FX gainers today, up 0.5% and 0.35% vs the dollar while JPY and CHF are the top losers, down -0.49% and -0.16% vs the dollar. The Chinese Yuan recovered from record lows as China took steps to curb the currency from falling further. The PBoC also set the daily reference rate to 6.9683, firmer than market expectations. Elsewhere, the British Pound rose slightly but in our view remains vulnerable to a further fall given that the market is still worried about a no-deal Brexit. In the Asian equities space, the Nikkei 225 closed -0.65% lower at 20,585.31, Hang Seng closed -0.67% at 25976.24 and Kospi ended -1.51% at 1917.5. The European equities were trading mixed with the FTSE -0.3% at 7201.98, DAX 0.31% at 11694.52, and CAC 0.46% at 5265.57. In the rates market, global yields were trading mixed; the US 10-year yield was trading at 1.7615% and the Bund 10-year yield trading at -0.522%. In the energy space, the Brent (front month) is trading up (0.38%) for the day at $60.04.

 

For live high low alerts, more trade ideas 24X7, FX percentage movers and key market levels visit us at https://twitter.com/tradermade

 

Daily Pivots for Key Currency Pairs

 
 

Economic Calendar

 
 

10-year Yields Chart (6-month)

 
 

USD-Index Daily Chart (6-month)

 
 

Brent Front Month 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 1.1234 for 1.1167
Short-term view: EUR/USD resistance at 1.1234, MACD and RSI is looking to top out. Hence, we see a move lower to 1.1167, likely 1.1110. Above 1.1234 to open 1.1280.

 

GBPUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.2243 for 1.2112
Short-term view: GBP/USD resistance at 1.2243, momentum is still bearish and we see a dip to 1.2112, likely 1.2046. Above 1.2243 to open 1.2306.

 

USDJPY Chart (Two-week)

 
 

Strategy: Resistance at 107.05 for 105.50
Short-term view: USD/JPY has resistance around 107.05, momentum is still bearish hence, we see a move lower to 105.50 and 105.03 Above 107.05 opens 107.48

 

AUDUSD Chart (Two-week)

 
 

Strategy: Resistance at 0.6830 for 0.6650Short-term view:__ AUD/USD short-term downtrend continues, we look for resistance at 0.6830 for a move lower towards 0.6725, likely 0.6650. Above 0.6830 we look for 0.6869 in the immediate short-term.


TraderMade Systems, © 2019

The FXNavigator On-line Research Service (the "Service") is provided by Tradermade Systems Ltd ("TraderMade"). The Service is comprised of annotated charts ("Charts"), technical commentary ("Commentary"), TraderMade strategies ("Strategies") and technical alerts ("Alerts"). The Service is delivered to end-users through a variety of mechanisms, including but not limited to TraderMade's own proprietary platforms, Thomson Reuters own proprietary platforms, email, RSS, Twitter, Facebook and LinkedIn.

This document outlines TraderMade's specific disclaimers about usage of the content of this Service. TraderMades General Terms and Conditions for use of the service are located here: Terms and Conditions.

TraderMade is an independent information supplier and does not provide trading accounts or hold any Clients funds or monies for trading or trading related activities.

General nature of the Service.

The content of this Service is of a general nature without specific knowledge of any end-users personal or financial circumstances and is therefore presented for the end-user viewers information and entertainment only.

Any trading Strategies outlined in the Service are no more than the opinions of Analysts and are hypothetical disclosures based upon general predictions and interpretations of the Market being analysed.

Service Delivery and Delays.

The content of the Service is delivered as quickly as is reasonably possible using multiple routing venues and internet technologies.

By using the Service, end-users acknowledge that the Service may be delayed for reasons beyond the reasonable control of TraderMade.

For the avoidance of doubt, each part of the Service is current only as at the date and time shown on the part in question, not the date and time delivered and not the time first viewed by the end-user.

Indicative Prices.

Charts, Alerts and other quantitative Market information supplied within the Service are based upon the market data that is supplied to TraderMade by reputable third parties, and TraderMade use this information in the Service in good faith.

TraderMade provide no assertion or warrantee that prices or market levels indicated in any part of the Service will in fact be reflected in any exchange, any market place or any trading platform.

Markets Trading

Trading or investing in any market-traded financial instrument, including foreign exchange, contains significant levels of inherent financial risk. End Users involved in trading activities may lose some or all of the money they invest in those trading activities, and in certain cases may lose more than they have invested.

TraderMade strongly recommend that all end-users take independent advice from a financial or trading professional who is apprised of their individual circumstances before commencing trading activities.

Only true discretionary income should be used for trading in the Foreign Exchange market. If you are considering trading in the Foreign Exchange market before you trade make sure you understand how the spot market operates and be thoroughly familiar with the operation of and the limitations of the platform on which you are going to trade.

No parts of the Service, including the Strategies, are a solicitation or enticement by TraderMade or any person or any organisation to transact any financial instrument now or at any time in the future.

Due to the inherent risks and unknowable nature of the future behaviour of financial markets, TraderMade take no responsibility for any individual investment decisions taken by any end-user based upon any part of the Service.

TraderMade LogoTraderMade © 2019 TraderMade Systems. All Rights Reserved