Range Markets

NZD and JPY are the top G10 FX gainers today, up 0.16% and 0.11% vs the dollar while AUD and EUR are the top losers, down -0.38% and -0.2% vs the dollar. GBP is vulnerable to Brexit news and we also have Mark Carney’s testimony to the parliament where he may be asked questions on BoE’s response to a no deal Brexit. Elsewhere, the safe havens have caught a bid following an equity sell-off. In the Asian equities space, the Nikkei 225 closed down -1.09% at 21,583.12, Hang Seng closed -2.02% at 25840.34 and Kospi ended -0.86% at 2082.58. The European equities were trading weaker with the FTSE down -0.45% at 6969.39, DAX down -1.01% at 11130.42, and CAC down -0.77% at 4946.88. In the rates market, global yields were trading weaker; the US 10-year yield was trading at 3.0464% and the Bund 10-year yield trading at 0.358%. In the energy space, the Brent (front month) is trading down (-0.94%) for the day at $66.16.


Economic Calendar



Yields Daily Chart (5-month)



USD-Index Daily Chart (5-month)



Brent Front Month Daily Chart (6-month)



Trade Weighted Basket Hourly (one-week)




Major Currency Pairs


EURUSD Chart (Two-week)



Strategy: Resistance at 1.1483 for 1.1332
Short-term view: EUR/USD resistance level at 1.1483, RSI and MACD are reversing from the overbought area. Hence, we may see a correction to 1.1380, possibly 1.1332. Above 1.1483 to open 1.1544



GBPUSD Chart (Two-week)



Strategy: Resistance at 1.2893 for 1.2750
Short-term view: GBP/USD has resistance at 1.2893 and momentum is flat, hence, we see a correction to 1.2808, possibly 1.2750. Above 1.2893 to open 1.2940



USDJPY Chart (Two-week)



Strategy: Resistance at 112.73 for 111.39
Short-term view: USD/JPY resistance at 112.73 and MACD is still negative. We look for 112.18, possibly 111.39. Above 112.73 to open 113.15, possibly 113.58



AUDUSD Chart (Two-week)



Strategy: Resistance at 0.7334 for 0.7193
Short-term view: AUD/USD resistance at 0.7334, MACD and RSI are weakening. Hence, we see a correction towards .7258, possibly .7193. A move above 0.7334 to open 0.7386.


Leave a Reply

Your email address will not be published. Required fields are marked *