Trade Talks Progress, Lagarde Up Next

Updated 09:35AM 04/11/2019


NZD and SEK are the top G10 FX gainers today, up 0.39% and 0.1% vs the dollar while JPY and CHF are the top losers, down -0.16% and -0.16% vs the dollar. The euro edged lower ahead of Lagarde's debut speech as ECB president though hopes that the U.S. may not impose tariffs on European automobiles kept it at elevated levels. Investors expect Lagarde to stick with the policy script of Mario Draghi; any divergence from it may lead to sharp moves in the euro. Risk sentiments were improved on rising optimism about Sino-U.S. trade talks. The U.S. and China said they made progress in trade negotiations that have harmed the global economy. The U.S. officials said a deal could be signed in the month of November. In the Asian equities space, Hang Seng closed 1.65% at 27547.3 and Kospi ended 1.43% at 2130.24. The European equities were trading firm with the FTSE up +0.44% at 7334.22, DAX up +0.83% at 13068.33, and CAC up +0.67% at 5800.7. In the rates market, global yields were trading firmer; the US 10-year yield was trading at 1.7523% and the Bund 10-year yield trading at -0.361%. In the energy space, the Brent (front month) is trading up (0.02%) for the day at $61.7.

 

Forward Calculator

 

https://research.tradermade.com/forward-calculator

 

Latest Forex-alerts at

 

https://research.tradermade.com/forex-alerts

 

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 1.1167 for 1.1094
Short-term view: EUR/USD resistance at 1.1167, MACD and RSI are toppping out. Hence, we see a move to 1.1094. Above 1.1167 to open 1.1200.

 

GBPUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.3000, for 1.2850
Short-term view: GBP/USD resistance at 1.3000, MACD and RSI are topping out. We see dip to 1.2900, likely 1.2850. Above 1.3000 to open 1.3060.

 

USDJPY Chart (Two-week)

 
 

Strategy: Resistance at 108.43 for 107.64
Short-term view: USD/JPY has resistance around 108.43, MACD and RSI lacks upside momentum. Hence, we see a move lower to 107.64, likely 107.20. Above 108.43 opens 108.81.

 

AUDUSD Chart (Two-week)

 
 

Strategy: Resistance at 0.6920 for 0.6820
Short-term view: AUD/USD MACD and RSI are topping out and resistance at 0.6920. A move towards 0.6883 likely 0.6820. Above 0.6920 to open 0.6983.

 
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