Suggestion XtreamForex Technical Analysis

Technical Overview of EUR/USD, AUD/USD and USD/CAD Currency Pairs

EUR USD



The EUR traded higher against the USD and closed at 1.1343.

ADP Nonfarm Employment Change shows the monthly change in 19 manufacturing sectors in the United States. The indicator does not take agriculture into account. The calculation includes data collected from about 400 000 private enterprises.
The indicator characterizes the labor market and industrial sector activity. Employment growth can have a positive effect on dollar quotes.

According to the Analysis, The pair is expected to find support at 1.12801, and a fall through could take it to the next support level of 1.12176. The pair is expected to find its first resistance at 1.14507, and a rise through could take it to the next resistance level of 1.15588. Previous Day range was 170.6 and Current Day Range is 61.6.


AUD USD



The AUD traded a bit lower against the USD and closed at 0.6984.

ISM Manufacturing PMI reflects business conditions in the US manufacturing sector in the specified month. The indicator is based on a survey of representatives from more than 400 companies. Unlike Markit, ISM considers not only private companies but is based on the common NAICS (North American Industrial Classification System) list. The questionnaire considers employment, production level, inventories, new orders and supplier deliveries.

Readings above 50 can have a positive effect on US dollar quotes.

The pair is expected to find support at 0.69596, and a fall through could take it to the next support level of 0.69351. The pair is expected to find its first resistance at 0.70303, and a rise through could take it to the next resistance level of 0.70765.

AUD USD previous Day range was 70.7 and Current Day Range is 223.6.


USD CAD



The USD traded higher against CAD and closed at 1.3577.

Canada Employment Change shows a change in the number of officially employed Canadians in the reported month.
The indicator is used when measuring Canada's labor market. The indicator growth can have a positive effect on CAD quotes.
According to the analysis, USD/CAD pair is expected to find support at 1.35433, and a fall through could take it to the next support level of 1.35094. The pair is expected to find its first resistance at 1.36367, and a rise through could take it to the next resistance level of 1.36962.

USD/CAD previous day range was 93.4 and current day range is 71.8.

 

Technical Overview of NZD/USD, AUD/USD and EUR/USD Currency Pairs

NZD USD

The NZD traded higher against the USD and closed at 0.6736.

Factory Orders m/m show the changes in the volume of orders for durable and non-durable goods received by US companies in the given month compared to the previous one. This is a composite indicator including new industrial orders for durable and non-durable goods; orders unfilled by the end of a month; shipments (indicating the current sales); total reserves of raw materials and products by the end of the given month.

The indicator growth can have a positive effect on dollar quotes.

According to the Analysis, The pair is expected to find support at 0.66880, and a fall through could take it to the next support level of 0.66397. The pair is expected to find its first resistance at 0.67681, and a rise through could take it to the next resistance level of 0.67999.

Previous Day range was 80.1 and Current Day Range is 29.1.

AUD USD

The AUD traded a bit higher against the USD and closed at 0.7117.

ISM Non-Manufacturing PMI reflects activity in the US service sector in the reporting month. The indicator is based on a survey of representatives from more than 400 companies. Unlike Markit, ISM considers not only private companies but is based on the common NAICS (North American Industrial Classification System) list.

Readings above 50 can have a positive effect on US dollar quotes.
The pair is expected to find support at 0.70326, and a fall through could take it to the next support level of 0.69477. The pair is expected to find its first resistance at 0.71631, and a rise through could take it to the next resistance level of 0.72087.

AUD USD previous Day range was 130.5 and Current Day Range is 28.5.

EUR USD

The EUR traded higher against USD and closed at 1.1396.
Retail Sales m/m reflect a change in the euro area retail sails in the reported month compared to the previous one. The calculation is adjusted for inflation.

The index is often called the consumer spending indicator and allows assessing inflation in the euro area.
The indicator growth can have a positive effect on the euro quotes.

According to the analysis, EUR/USD pair is expected to find support at 1.13552, and a fall through could take it to the next support level of 1.13147. The pair is expected to find its first resistance at 1.14273, and a rise through could take it to the next resistance level of 1.14589.

EUR/USD previous day range was 72.1 and current day range is 34.3.

 

Overview of Gold: $1,300 Break Remains Indefinable Despites the Weak tone in US Dollar

XAU traded a bit lower against USD and closed at 1288.78.

· Gold picked up a bid on Monday, tracking the weak spot in the US dollar, but the bull momentum ran out of steam at $1,295.
· The dollar index (DXY) fell to 2.5-month lows below the 100-day MA.
· The yellow metal is still struggling to break past $1,300.
· $1,276 is the level to beat for the bears.

According to the Analysis, The XAU/USD.X pair is expected to find support at 1282.62, and a fall through could take it to the next support level of 1276.47. The pair is expected to find its first resistance at 1294.99, and a rise through could take it to the next resistance level of 1301.21. Previous Day range was 12.37 and Current Day Range is 7.69.

The yellow metal failed to cross the psychological barrier of $1,300 on Friday and carved out a bearish-lower high of $1,288 yesterday, despite the drop in the US dollar - gold's biggest retribution.

Notably, the dollar index found acceptance below the 100-day moving average (MA) yesterday and fell to 95.64 - a level last seen on Oct. 22.
The greenback is indeed on the defensive, having closed below the 100-day MA for the first time since Sept. 27 amid dovish Fed expectations.

The yellow metal is still struggling to pick up a strong bid. As of writing, it is reporting moderate losses at $1,286 per Oz. Gold's inability to capitalize on DXY's break below the 100-day MA likely indicates the bulls are facing exhaustion.

 

Overview of Crude Oil: WTI Continues to Climb on Trade Hopes

US Oil – also known as West Texas Intermediate (WTI) and Texas Sweet Light – is another type of ‘sweet light’ crude oil, that has a lower sulphur content and density than UK Oil. It is drilled in North America, primarily in Texas, Louisiana and North Dakota, and sent via pipeline to Cushing, Oklahoma for price settlement. As this is a landlocked area, most WTI oil is consumed in the US, making this the primary benchmark for the US market.

According to the analysis, USOil.x pair is expected to find support at 48.95, and a fall through could take it to the next support level of 47.89. The pair is expected to find its first resistance at 50.60, and a rise through could take it to the next resistance level of 51.89.


USOil.x previous day range was 16500 and current day range is 9000.


· US-China trade talks continue, and markets continue to bid up on hopes of progress.

· Commodities are catching a relief run on hopes of improving trade, after a tense ending to 2018.

Crude energies markets are continuing to spin higher as investors hope for peaceful trade talks to resolve between the US and China, which are at present underway at the vice-ministerial level, extending into a third day of talks with traders awaiting announcements following the trade meetings. Trade tensions between the US and China have spun out broader market sentiment in recent months, and investors are looking for any signs of a recovery in global trade in order to offset the increasing signs of economic slowdown across the planet for 2019.

The Energy Information Administration's (EIA) Crude Oil Stocks Change Indicator is published weekly. It measures the number of barrels of commercial crude oil held by US companies. It is one of the indicators affecting world oil prices.

Growing crude oil stocks indicate a weaker demand for oil and can have a negative impact on the oil barrel price.

 

Technical Overview of GBP/USD, AUD/USD and NZD/USD Currency Pairs

GBP USD

The GBP traded higher against the USD and closed at 1.2746.
The GBP/USD pair trades at the upper end of its weekly range as the dollar remains weak. Upside capped by Brexit uncertainty, looming Parliamentary discussions.

Manufacturing Production m/m shows the change in the value of goods produced in the manufacturing sector of the UK industry in the given month compared to the previous month.
Manufacturing (production of foods, pharmaceuticals, light industry, metal processing, etc.) accounts for about 80% of the overall UK industrial production. The indicator growth may have a positive effect on the pound quotes.

According to the Analysis, The pair is expected to find support at 1.27154, and a fall through could take it to the next support level of 1.26853. The pair is expected to find its first resistance at 1.27874, and a rise through could take it to the next resistance level of 1.28293.

Previous Day range was 72 and Current Day Range is 25.3.

AUD USD

The AUD traded lower against the USD and closed at 0.7185.
AUD prints session highs above 0.72 following a better-than-expected Aussie retail sales release.

The pair is struggling to find acceptance above 0.72 and could feel the pull of gravity during the day ahead as both the USD/CNH pair and gold are hinting at a recovery rally in the US dollar.

Australia Retail Sales m/m show a change in the turnover of goods and services sold in retail outlets in the given month compared to the previous month.
The turnover of goods and services sold in retail outlets include retail sales, wholesales, takings from repairs, sales in public places, commission from agency activity, as well as the goods and services tax.

The indicator growth can have a positive effect on the Australian dollar quotes.
The pair is expected to find support at 0.71548, and a fall through could take it to the next support level of 0.71248. The pair is expected to find its first resistance at 0.72059, and a rise through could take it to the next resistance level of 0.72270.

AUD USD previous Day range was 51.1 and Current Day Range is 31.6.

NZD USD

The NZD traded higher against USD and closed at 0.6779.

The NZD/USD pair is probing the trendline falling from December highs for the third day straight. As of writing, the trendline resistance is located at 0.6786. Interestingly, the 100-period moving average (MA) on the 4-hour chart is also located at that level.

Building Consents m/m reflect summary data on permits for the construction of residential and non-residential buildings priced at 5000$ and higher, granted by New Zealand consent authorities. The indicator is calculated as a change in the reported month compared to the previous one. The calculation accounts for taxes on goods and services, however it is not adjusted for inflation.

Data on construction approvals are considered as an indicator of confidence in the domestic economy, therefore construction consents are also considered as a leading indicator of the construction sector activity.

According to the analysis, NZD/USD pair is expected to find support at 0.67684, and a fall through could take it to the next support level of 0.67581. The pair is expected to find its first resistance at 0.67915, and a rise through could take it to the next resistance level of 0.68043.

NZD/USD previous day range was 23.1 and current day range is 42.5.

 

Technical Overview of Bitcoin by XtreamForex

BTC traded a bit lower against USD and closed at 3653.36.
Bitcoin breaks key levels again after breaching $4k.

Long term bottom is not in place yet.
According to the Analysis, The BTC/USD pair is expected to find support at 3589.71, and a fall through could take it to the next support level of 3526.05. The pair is expected to find its first resistance at 3708.30, and a rise through could take it to the next resistance level of 3763.23. Previous Day range was 118.59 and Current Day Range is 37.66.

Bitcoin, the king of Cryptocurrencies, has broken down of some key levels after breaking below $4,000 and is now at the risk of breaching $3,000 too as long term bottom is not yet in place for the largest crypto.

BTC/USD trading flat on day at $3,633 and in less than one percent range for the day - typical low volume and even lower volatility weekend trading that is. Earlier this week, Bitcoin and all the other major coins saw massive sell-off all over again, resulting in BTC breaking $4,000 again and as a result also broke some key levels on the short term (180-minute) as well as long term (daily) chart.

 

Technical Overview of EUR/USD, AUD/USD and NZD/USD Currency Pairs

EUR USD

The EUR traded higher against the USD and closed at 1.1468.
EUR/USD slipped back below the pivot at 1.1468 on Friday, falling from a high of 1.1540 to a low of 1.1451, consolidating between there and 1.1480 in a sideways drift in the main.

ECB President Speech reflects the official position of the European Central Bank, therefore every speech is carefully examined by the market participants and analysts. If the ECB President's speech suggests any conclusions on the monetary policy or a clear assessment of the economic and financial situation of the euro zone, the speech influences the EU currency.

If the speech suggests the tightening of the monetary policy, it is seen as positive for the euro.
According to the Analysis, The pair is expected to find support at 1.14519, and a fall through could take it to the next support level of 1.14360. The pair is expected to find its first resistance at 1.14825, and a rise through could take it to the next resistance level of 1.14972.

Previous Day range was 30.6 and Current Day Range is 24.4.

AUD USD

The AUD traded higher against the USD and closed at 0.7194.
The AUD/USD bounce gained further traction last hour, with the bulls testing highs into the 0.7220 level following fresh monetary and fiscal stimulus measures announced by China. The spot is on its way to test the monthly tops at 0.7236.

Federal Open Market Committee (FOMC) Member Speech may contain indications on the possible future changes in the Fed's monetary policy. Committee members participate in interest rate voting, determine appropriate monetary policy measures and assess the risks to long-run goals of price stability and sustainable economic growth.

The pair is expected to find support at 0.71737, and a fall through could take it to the next support level of 0.71537. The pair is expected to find its first resistance at 0.72158, and a rise through could take it to the next resistance level of 0.72379.

AUD USD previous Day range was 42.1 and Current Day Range is 31.5.

NZD USD

The NZD traded higher against USD and closed at 0.6821.

Electronic Card Retail Sales m/m reflect a percentage change in electronic card transactions over the reported month compared to the previous one. The indicator can be used in the estimation of consumer spendings and economic activity.

The indicator values are seasonally adjusted and can be revised on a monthly basis, while monthly movements can fluctuate.
According to the analysis, NZD/USD pair is expected to find support at 0.68006, and a fall through could take it to the next support level of 0.67803. The pair is expected to find its first resistance at 0.68367, and a rise through could take it to the next resistance level of 0.68525.

NZD/USD previous day range was 36.1 and current day range is 34.2.

 

Technical Overview of GBP/USD, USD/JPY and USD/CHF Currency Pairs

GBP USD

The GBP traded lower against the USD and closed at 1.2858.
The GBP/USD pair is struggling to cross the 9-month-long falling trendline for the third day straight, having charted a big doji candle at that diagonal line yesterday.

Bank of England Governor Speech is given by the head of the BOE's Monetary Policy Committee and has the greatest influence over sterling's value among all members of the Committee. The BoE Governor's public engagements suggest clues regarding the change in the exchange rate and future monetary policy of the Bank of England.

According to the Analysis, The pair is expected to find support at 1.27176, and a fall through could take it to the next support level of 1.25770. The pair is expected to find its first resistance at 1.29563, and a rise through could take it to the next resistance level of 1.30544.

Previous Day range was 238.7 and Current Day Range is 47.1.

USD JPY

The USD traded lower against the JPY and closed at 108.631.
USD/JPY is on the retreat, having faced multiple rejections near 108.75 in the last 24 hours.

Risk-reset is likely on shaky grounds. China stimulus pledge could be overshadowed by the global growth slowdown.
BOJ Governor Speech is an event having the greatest impact on JPY among all public statements made by the Japanese regulator. The Governor's rhetoric reflects the official position of the Bank of Japan.

If some hints at tightening the monetary policy by the Bank of Japan are detected in the Governor speech, it may affect JPY positively.

The pair is expected to find support at 108.253, and a fall through could take it to the next support level of 107.875. The pair is expected to find its first resistance at 108.884, and a rise through could take it to the next resistance level of 109.137.
USD JPY previous Day range was 6310 and Current Day Range is 3350.

USD CHF

The USD traded higher against CHF and closed at 0.9876.

With major European currencies remaining under strong selling pressure on Tuesday, the greenback attracted investors' attention and the US Dollar Index recovered all of the losses it recorded last week and broke above 96 to refresh its highest level since January 4 at 96.23.

Retail Sales m/m reflect a change in the US retail sails in the reported month compared to the previous one. The indicator is calculated based on statistics received from 5,000 retail stores of different types and sizes, and the data are then extrapolated to the whole country.

The indicator is used for estimating inflation. Its growth may have a positive effect on dollar quotes.

According to the analysis, pair is expected to find support at 0.98208, and a fall through could take it to the next support level of 0.97656. The pair is expected to find its first resistance at 0.99124, and a rise through could take it to the next resistance level of 0.99488.

USD/CHF previous day range was 91.6 and current day range is 8.1.

 

Technical Overview of EUR/USD, GBP/USD and NZD/USD Currency Pairs

EUR USD

The EUR traded higher against the USD and closed at 1.1388.

Federal Open Market Committee (FOMC) Member Speech may contain indications on the possible future changes in the Fed's monetary policy. Committee members participate in interest rate voting, determine appropriate monetary policy measures and assess the risks to long-run goals of price stability and sustainable economic growth.

According to the Analysis, The pair is expected to find support at 1.13708, and a fall through could take it to the next support level of 1.13535. The pair is expected to find its first resistance at 1.14055, and a rise through could take it to the next resistance level of 1.14229.

Previous Day range was 34.7 and Current Day Range is 13.9.

GBP USD

The GBP traded lower against the USD and closed at 1.2983.

Retail Sales m/m show the changes in the value of retail goods sold in the UK for the given month compared to the previous one. The calculation uses season-adjusted data from British retailers.

The indicator is used in forecasting, budgeting and in the development of the UK financial and economic policy. The retail sales growth can affect the British pound quotes positively.

The pair is expected to find support at 1.28772, and a fall through could take it to the next support level of 1.27714. The pair is expected to find its first resistance at 1.30437, and a rise through could take it to the next resistance level of 1.31044.

GBP USD previous Day range was 166.5 and Current Day Range is 25.6.

NZD USD

The NZD traded higher against USD and closed at 0.6761.

BusinessNZ Performance of Manufacturing Index (PMI) is compiled based on a monthly survey. It serves as a leading indicator of New Zealand's manufacturing sector activity.
According to the analysis, pair is expected to find support at 0.67303, and a fall through could take it to the next support level of 0.66995. The pair is expected to find its first resistance at 0.67892, and a rise through could take it to the next resistance level of 0.98173.

NZD USD previous day range was 58.9 and current day range is 22.4.

 

With this long technical analysis, what action should be taken?

 

Technical Overview of EUR/USD, USD/CAD and USD/JPY Currency Pairs

EUR USD



The EUR traded higher against the USD and closed at 1.1359.

ECB Deposit Rate Decision is announced after the European Central Bank meetings, on which the monetary policy of the euro zone is discussed. The regulator takes decisions on deposit rates depending on the inflationary outlook and economic growth.

Cut in deposit rates leads to a lower euro rate.

According to the Analysis, The pair is expected to find support at 1.13393, and a fall through could take it to the next support level of 1.13195. The pair is expected to find its first resistance at 1.13761, and a rise through could take it to the next resistance level of 1.13931.

Previous Day range was 36.8 and Current Day Range is 9.

USD CAD



The USD traded lower against the CAD and closed at 1.3354.

Canada Core Retail Sales m/m reflect the change in retail sales in the reported month compared to the previous one. The indicator is calculated based on statistics from retail stores of different types and sizes. The index calculation does not include sales of autos and spare parts.

Retails Sales are an indicator of consumer activity in Canada, and an important component of national GDP. The indicator growth can have a positive effect on CAD quotes.

The pair is expected to find support at 1.33105, and a fall through could take it to the next support level of 1.32671. The pair is expected to find its first resistance at 1.33773, and a rise through could take it to the next resistance level of 1.34007.

USD/CAD previous Day range was 66.8 and Current Day Range is 32.4.

USD JPY



The USD traded higher against JPY and closed at 109.361.

BoJ Press Conference is a main PR event of the Japanese regulator. During the Press Conference, the Bank of Japan Governor or Deputy Governor explains decisions concerning the monetary policy, describes their views on the prospects of economic development and answers questions.

If the regulator's statement contains some hints at the upcoming tightening of the monetary policy, this has a short-term positive impact on JPY.

According to the analysis, pair is expected to find support at 109.110, and a fall through could take it to the next support level of 108.859. The pair is expected to find its first resistance at 109.650, and a rise through could take it to the next resistance level of 109.939.

USD JPY previous day range was 5400 and current day range is 4550.

 

Technical Overview of GBP/USD, AUD/USD and NZD/USD Currency Pairs

GBP USD



The GBP traded higher against the USD and closed at 1.3066.

According to the Analysis, The pair is expected to find support at 1.29795, and a fall through could take it to the next support level of 1.28929. The pair is expected to find its first resistance at 1.31155, and a rise through could take it to the next resistance level of 1.31649.

Previous Day range was 136 and Current Day Range is 27.4.

AUD USD



The AUD traded lower against the USD and closed at 0.7139.

Australia Employment Change measures a change in the number of officially employed Australians in the reported month.

Employment growth is a sign of a stronger labor market and can be seen as positive for the Australian dollar quotes.

The pair is expected to find support at 0.71229, and a fall through could take it to the next support level of 0.71070. The pair is expected to find its first resistance at 0.71492, and a rise through could take it to the next resistance level of 0.71956.

AUD USD previous Day range was 26.3 and Current Day Range is 46.

NZD USD



The NZD traded higher against USD and closed at 0.6786.

Core Durable Goods Orders m/m reflect the value of orders received by manufacturers of durable goods in the given month compared to the previous one. The production of transport industry is excluded from the calculation.

The index allows forecasting future production volumes in the short term.
The value growth can have a positive effect on dollar quotes.

According to the analysis, pair is expected to find support at 0.67528, and a fall through could take it to the next support level of 0.67193. The pair is expected to find its first resistance at 0.68089, and a rise through could take it to the next resistance level of 0.68315.

NZD USD previous day range was 56.1 and current day range is 24.8.

 

Technical Overview of EUR/USD, USD/CHF and AUD/USD Currency Pairs

EUR USD

The EUR traded higher against the USD and closed at 1.1404.
EUR/USD made a strong recovery on Friday in a risk on the environment with headlines that an agreement has been reached to temporarily end the US government shutdown.

ECB President Speech reflects the official position of the European Central Bank, therefore every speech is carefully examined by the market participants and analysts. If the ECB President's speech suggests any conclusions on the monetary policy or a clear assessment of the economic and financial situation of the eurozone, the speech influences the EU currency.

If the speech suggests the tightening of the monetary policy, it is seen as positive for the euro.

According to the Analysis, The pair is expected to find support at 1.13306, and a fall through could take it to the next support level of 1.12572. The pair is expected to find its first resistance at 1.14473, and a rise through could take it to the next resistance level of 1.14906.

Previous Day range was 116.7 and Current Day Range is 23.5.

USD CHF

The USD traded lower against the CHF and closed at 0.9931.

The pair is expected to find support at 0.99107, and a fall through could take it to the next support level of 0.98903. The pair is expected to find its first resistance at 0.99613, and a rise through could take it to the next resistance level of 0.99945.

USD CHF previous Day range was 52.1 and Current Day Range is 14.7.

AUD USD

The AUD traded lower against USD and closed at 0.718.

The AUD/USD pair edged higher and regained the 0.72 handle briefly, as the selling pressure around the greenback remained unabated. However, downbeat Chinese industrial profits data appears to cap the further upside in the Aussie.

According to the analysis, pair is expected to find support at 0.71084, and a fall through could take it to the next support level of 0.70377. The pair is expected to find its first resistance at 0.72179, and a rise through could take it to the next resistance level of 0.72559.

AUD USD previous day range was 109.1 and current day range is 29.

 

Technical Overview of GBP/USD, EUR/USD and USD/JPY Currency Pairs

GBP USD

The GBP traded higher against the USD and closed at 1.3064.

Bank of England Governor Speech is given by the head of the BOE's Monetary Policy Committee and has the greatest influence over sterling's value among all members of the Committee. The BoE Governor's public engagements suggest clues regarding the change in the exchange rate and future monetary policy of the Bank of England.

According to the Analysis, The pair is expected to find support at 1.30144, and a fall through could take it to the next support level of 1.29642. The pair is expected to find its first resistance at 1.31577, and a rise through could take it to the next resistance level of 1.32468.

Previous Day range was 141.3 and Current Day Range is 34.7.

EUR USD

The EUR traded higher against the USD and closed at 1.1431.

France Gross Domestic Product (GDP) q/q reflects changes in the market value of domestically produced goods and services, in the reported quarter compared to the previous quarter. The GDP is calculated based on statistical information (using national economic indicators), forecast models and expert evaluations. GDP growth can have a positive effect on euro quotes.

The pair is expected to find support at 1.14117, and a fall through could take it to the next support level of 1.13923. The pair is expected to find its first resistance at 1.14502, and a rise through could take it to the next resistance level of 1.14693.

EUR USD previous Day range was 38.5 and Current Day Range is 16.6.

USD JPY

The USD traded lower against JPY and closed at 109.389.
Retail Sales m/m show the total volume of retail sales of goods and services in the past month compared with the previous one. This is a highly volatile indicator, it is seasonally adjusted.

The index allows evaluating consumer spending which is an important indicator of the national inflation.
The indicator growth can have a positive effect on yen quotes.

According to the analysis, pair is expected to find support at 109.168, and a fall through could take it to the next support level of 108.948. The pair is expected to find its first resistance at 109.573, and a rise through could take it to the next resistance level of 109.758.

USD JPY previous day range was 4050 and current day range is 2260.

 

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Technical Overview of USD/CAD, USD/CHF and NZD/USD Currency Pairs

USD CAD

The USD traded lower against the CAD and closed at 1.3148.
Fed says that it will stay patient on further rate hikes.

US Dollar Index falls sharply on the dovish shift in the language. WTI settles above $54 on Wednesday.

FOMC Press Conference is a quarterly event that attracts the attention of financial analysts and economists from around the world. During the press conference, the US Federal Open Market Committee members respond to journalists' questions about the US monetary policy, inflation prospects and measures taken to achieve its target level.

The index allows making conclusions about the terms of interest rate changes or changes in the monetary policy, depending on the speaker's rhetoric. Indirect hints at the coming growth of interest rates are seen as positive for the dollar.

According to the Analysis, The pair is expected to find support at 1.30838, and a fall through could take it to the next support level of 1.30201. The pair is expected to find its first resistance at 1.32461, and a rise through could take it to the next resistance level of 1.33447.

Previous Day range was 162.3 and Current Day Range is 26.5.

USD CHF

The USD traded lower against the CHF and closed at 0.9941.
US Dollar Index rises toward 96 on strong ADP data.

Wall Street starts the day on a strong footing.
FOMC is expected to keep its policy rate unchanged at 2.5%.

FED Interest Rate Decision is made on a predetermined date during the vote among the members of the Federal Open Market Committee (FOMC) concerning the Federal Reserve short-term interest rates to be charged from credits and commercial bank loans.

The increasing rate can have a positive effect on USD, while a decrease can affect USD negatively. If the rate remains unchanged, the analysts evaluate the number of "for" and "against" votes and discuss statements of voters after the minutes of meeting are published in order to forecast the results of the next meeting.

The pair is expected to find support at 0.99169, and a fall through could take it to the next support level of 0.98928. The pair is expected to find its first resistance at 0.99799, and a rise through could take it to the next resistance level of 1.00188.

USD CHF previous Day range was 63 and Current Day Range is 19.4.

NZD USD

The NZD traded higher against USD and closed at 0.6888.
The NZD/USD pair jumped 24 pips to a session high of 0.6824 after the ratings agency S&P raised New Zealand outlook to positive from stable and left rating unchanged at AA.

According to the analysis, pair is expected to find support at 0.68352, and a fall through could take it to the next support level of 0.67826. The pair is expected to find its first resistance at 0.69257, and a rise through could take it to the next resistance level of 0.69636.

NZD USD previous day range was 90.5 and current day range is 37.1.

 

Technical Overview of XAU/USD, BTC/USD and ETH/USD

XAU USD.x

The XAU traded lower against the USD and closed at 1321.27.
Gold could trade in a sideways-to-negative manner as a key technical indicator is reporting the loss of bullish momentum.

According to the Analysis, The pair is expected to find support at 1317.09, and a fall through could take it to the next support level of 1312.91. The pair is expected to find its first resistance at 1325.85, and a rise through could take it to the next resistance level of 1330.43.

Previous Day range was 8.76 and Current Day Range is 43000.

BTC USD

The BTC traded lower against the USD and closed at 3498.84.

Cryptocurrency market slipped back in the red zone on Thursday and continued consolidating with bearish bias during early Asian hours on Friday. All major coins demonstrate moderate losses

The pair is expected to find support at 3462.14, and a fall through could take it to the next support level of 3425.45. The pair is expected to find its first resistance at 3551.55, and a rise through could take it to the next resistance level of 3604.27.

BTC USD previous Day range was 89.41 and Current Day Range is 50.24.

ETH USD

The ETH traded lower against USD and closed at 108.31.
Bears take over the ETH/USD market as it loses 1.75% of its overall value.

Heavy resistance at $107.50 and $109 severely limits ETH/USD’s growth

According to the analysis, pair is expected to find support at 105.95, and a fall through could take it to the next support level of 103.60. The pair is expected to find its first resistance at 111.96, and a rise through could take it to the next resistance level of 115.62.

ETH USD previous day range was 6.01 and current day range is 36600.

 

Technical Overview of EUR/USD, GBP/USD and USD/CAD Currency Pairs

Eur usd

The EUR traded lower against the USD and closed at 1.1454.

The EUR/USD pair advanced for a second consecutive week, unable, however, to make a relevant bullish breakout and finishing the week right below 1.1460.

Unemployment Change reflects a change in the total number of unemployed Spanish citizens. The indicator growth is usually accompanied with a decrease in the purchasing power of the population, which may have a negative effect on euro quotes.

According to the Analysis, The pair is expected to find support at 1.14297, and a fall through could take it to the next support level of 1.14055. The pair is expected to find its first resistance at 1.14829, and a rise through could take it to the next resistance level of 1.15119.

revious Day range was 53.2 and Current Day Range is 13.5.

GBP USD

The GBP traded lower against the USD and closed at 1.3075.

GBP/USD running out of steam faded at 1.3217 highs. Brexit Secretary Stephen Barclay and senior government officials are due to discuss alternative arrangements to the Irish backstop this week.

Factory Orders m/m show the changes in the volume of orders for durable and non-durable goods received by US companies in the given month compared to the previous one. This is a composite indicator including new industrial orders for durable and non-durable goods; orders unfilled by the end of a month; shipments (indicating the current sales); total reserves of raw materials and products by the end of the given month.

The indicator growth can have a positive effect on dollar quotes.

The pair is expected to find support at 1.30409, and a fall through could take it to the next support level of 1.30064. The pair is expected to find its first resistance at 1.31111, and a rise through could take it to the next resistance level of 1.31468.

GBP USD previous Day range was 70.2 and Current Day Range is 19.7.

USD CAD

The USD traded bit higher against CAD and closed at 1.3098.

The USD/CAD pair broke below the key 1.3115/20 support area and tumbled to 1.3082, the lowest level since November 7. The pair resumed the move lower that started early January from above 1.3600.

ISM Non-Manufacturing PMI reflects activity in the US service sector in the reporting month. The indicator is based on a survey of representatives from more than 400 companies. Unlike Markit, ISM considers not only private companies but is based on the common NAICS (North American Industrial Classification System) list.

Readings above 50 can have a positive effect on US dollar quotes.

According to the analysis, pair is expected to find support at 1.30582, and a fall through could take it to the next support level of 1.30188. The pair is expected to find its first resistance at 1.31471, and a rise through could take it to the next resistance level of 1.31966.

USD CAD previous day range was 88.9 and current day range is 14.1.

 

Technical Overview of AUD/USD, NZD/USD and USD/JPY Currency Pairs

AUD USD

The AUD traded higher against the USD and closed at 0.7225.
Australia Retail Sales m/m show a change in the turnover of goods and services sold in retail outlets in the given month compared to the previous month.

The turnover of goods and services sold in retail outlets include retail sales, wholesales, takings from repairs, sales in public places, commission from agency activity, as well as the goods and services tax.

The indicator growth can have a positive effect on the Australian dollar quotes.

According to the Analysis, The pair is expected to find support at 0.72060, and a fall through could take it to the next support level of 0.71873. The pair is expected to find its first resistance at 0.72486, and a rise through could take it to the next resistance level of 0.72725.

Previous Day range was 42.6 and Current Day Range is 60.1.

NZD USD

The NZD traded higher against the USD and closed at 0.6896.

ISM Non-Manufacturing PMI reflects activity in the US service sector in the reporting month. The indicator is based on a survey of representatives from more than 400 companies. Unlike Markit, ISM considers not only private companies but is based on the common NAICS (North American Industrial Classification System) list.

Readings above 50 can have a positive effect on US dollar quotes.

The pair is expected to find support at 0.68754, and a fall through could take it to the next support level of 0.68548. The pair is expected to find its first resistance at 0.69111, and a rise through could take it to the next resistance level of 0.69262.

NZD USD previous Day range was 35.7 and Current Day Range is 30.4.

USD JPY

The USD traded bit higher against JPY and closed at 109.874.

Household Spending y/y measures the total expenditure by Japanese households in the given month compared to the same month of the previous year. The index is calculated based on a statistical sample of households in the country. The calculation includes expenditures on food, housing, utilities, furniture, closing, health, education, transport, communication, leisure activities, etc.
The index is viewed as an indicator of economic growth and consumer optimism. It allows measuring the level of inflation in the country.

The indicator growth can have a positive effect on the yen quotes.

According to the analysis, pair is expected to find support at 109.484, and a fall through could take it to the next support level of 109.093. The pair is expected to find its first resistance at 110.212, and a rise through could take it to the next resistance level of 110.549.

USD JPY previous day range was 7280 and current day range is 2010.

 

Technical Overview of EUR/USD, USD/CAD and USD/CHF Currency Pairs

EUR USD

The EUR traded lower against the USD and closed at 1.1405.
Despite macroeconomic data released this Tuesday favored an advance in EUR/USD the pair ends the day with losses at pre-FOMC levels. 1.1315 at sight should the 1.1400 figure gives up.

The Energy Information Administration's (EIA) Crude Oil Stocks Change Indicator is published weekly. It measures the number of barrels of commercial crude oil held by US companies. It is one of the indicators affecting world oil prices.

Growing crude oil stocks indicate a weaker demand for oil and can have a negative impact on the oil barrel price.

According to the Analysis, The pair is expected to find support at 1.13907, and a fall through could take it to the next support level of 1.13767. The pair is expected to find its first resistance at 1.14293, and a rise through could take it to the next resistance level of 1.14539.

Previous Day range was 38.6 and Current Day Range is 13.

USD CAD

The USD traded higher against the CAD and closed at 1.1325.
The USD/CAD pair trades little changed around 1.3130 on early Wednesday. The pair has strong resistance confluence near 1.3205-1.3210 that includes 100-day simple moving average (SMA) and a month old descending trend-line.


Canada Ivey Purchasing Managers Index (PMI) shows economic activity in the past month calculated by the Ivey School of Business.

The indicator is calculated based on a survey of purchasing managers in the private and public sector companies. The survey involves representatives of 175 companies selected in view of their field of activity and geographical location. Respondents answer questions about whether purchases, employment, supplies and prices in their sector have become better, worse or has not changed over the reported month.

Survey results are seasonally adjusted.
A reading above 50 indicates that the economic activity is expanding, a reading below 50 suggests the economy is in contraction. The index growth can have a positive effect on CAD quotes.

The pair is expected to find support at 1.31002, and a fall through could take it to the next support level of 1.30757. The pair is expected to find its first resistance at 1.31511, and a rise through could take it to the next resistance level of 1.31755.

USD CAD previous Day range was 50.9 and Current Day Range is 26.1.

USD CHF

The USD traded bit higher against CHF and closed at 0.9995.
US Dollar Index struggles to break above 96.

10-year T-bond yield erases gains to weigh on the greenback.
Coming up: ISM and Markit non-manufacturing PMI data from the U.S.

According to the analysis, pair is expected to find support at 0.99706, and a fall through could take it to the next support level of 0.99464. The pair is expected to find its first resistance at 1.00198, and a rise through could take it to the next resistance level of 1.00448.

USD CHF previous day range was 49.2 and current day range is 16.9.