Key To Markets - Support

Brent: Range bound trading expected.

1. Suadi Arabia promised to cut exports.
2. Trading with lower highs and lower lows patterns.
3. The daily RSI and oscillator are remained bullish

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DXY: Retraced more than 80.0%

1. US dollar index temporarily paused the downtrend.
2. Potential support zone remains between 93.30 and 93.
3. We forecast it has a potential to rebound.

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USDJPY: Erased the falling channel but the descending trend line in focus.

1. USDJPY continues to bounce after retraced to a support zone.
2. It rallied beyond the descending trendline.
3. The near term trading zone remains between 113.00 and 110.00.

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USDCAD: Selling likely to be moderated.

1. The relentless selling temporarily paused at 200WEMA.
2. It has a parallel support finds at 1.2460.
3. The near term potential resistance moved down to 1.2830.

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USDCHF: Range bound trading expected

1. It has a potential resistance at 0.9550/0.9560.
2. We forecast it will consolidate in a tight range.
3. If settles above 0.9560, a rebound expected.

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FOMC review and DXY technical view

1. As market participants expected Fed left interest rates unchanged.
2. The statement was without any major changes.
3. The US dollar down across the board especially against NZD,TRY and MXN, it was down a percent.

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USDJPY: As we forecast, it was rejected at a descending trendline. What’s next?

1. Pay attention to 110.80 and 110.50.
2. The trading range remains between 110 and 112.40.

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EURUSD: Ran to resistance zone.

1. EURUSD rose more than 38.2% (1.3993-1.0339 fall).
2. DXY slips to support zone, besides EURUSD ran to resistance zone.

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AUDUSD: Welcome to 0.8000.

1. A$ finally climbs above 0.80 for the first time after April 2015.
2. The subdued June quarter inflation unable to stop the A$ rally.
3. The cross has been moving higher for three consecutive weeks.

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DXY technical view. Daily oscillator turns to bullish.

1. The dollar index calls for the maximum thrust across the board.
2. The daily RSI is oversold and the oscillator turns bullish.
3. Q2 GDP data in focus.

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USDJPY: Lower high pattern remains in play.

1. USDJPY slightly down after Bank of Japan released the July policy meeting summary.
2. The daily oscillator turns to bullish.
3. US Q2 GDP in focus.

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CHF crosses technical overview.

1. USDCHF: Off nearly 3% from last Friday low.
2. EURCHF: Trading above 200WMAs for the first time.
3. CHFJPY: Parallel support in focus.

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FX Weekly 31 July 2017, TECHNICAL ANALYSIS

1. DXY: Bullish reaction expected
2. USDJPY: Parallel support in focus
3. USDCAD: Triple bottom in place
4. USDCHF: Attempting a breakout
5. EURUSD: Testing resistance
6. AUDUSD: Topping in progress

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EURUSD: The bullish momentum pushed the EURUSD above mid-2015 levels

1. The higher lows and higher highs pattern has been printing since February.
2. The bullish momentum pushed the EURUSD above mid-2015 levels.
3. Last week CFTC leveraged positioning data for the week ending 25 July revealed, funds were net sellers of EUR.

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Brent: Ended the month on the strongest note.

1. It has snapped the five-month bearish trend.
2. Posted biggest monthly gains since April 2016.
3. Net crude oil long positions were increased.

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EURGBP: Failed at 0.90 but settles above 61.8% fib

1. The cross has been consolidating at higher levels.
2. BOE policy outcome and guidance in focus.
3. GBP will be in the lime light as key risk events scheduled.

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It is important to always keep in mind the risks involved in trading with leveraged instruments.

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It is important to always keep in mind the risks involved in trading with leveraged instruments.

What is your Technical View?

Do you have a different idea? Please leave us a comment and get an answer from our professional analysts.

NZDUSD remains in a bullish trend

1. Kiwi dollar fell 0.65% against the crosses.
2. Q2 Unemployment rate down but employment drops.
3. The final push looms.

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UDNZD: Range bound trading expected.

1. Before retrace to 1.0590 the cross rejected at 50MA (monthly).
2. Support base finds between 1.0600 and 1.0590.
3. AUDNZD gave an upside breakout through minor trading range.

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NZDCAD: Spotted a bearish H&S pattern.

1. The near term trading range remains between 0.7175 and 0.7450.
2. We can observe the higher low and higher high pattern.
3. A dip below 0.9250 will be a buying opportunity.

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EURNZD: Pause the rally at 200WEMA.

1. A nine-month descending trend line in focus.
2. Near term potential support finds between 1.5800 and 1.5760.
3. Medium term finds between 1.5530 and 1.5450.

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It is important to always keep in mind the risks involved in trading with leveraged instruments.

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