Key To Markets - Support

GBPUSD: Erased the four-week falling channel.

1. Rebounded after re-testing the support trend line.
2. GBPUSD ran to the 20WMA.
3. The second round of Brexit negotiations begins on August 28.
4. Near term trading pattern remains in a range-bound.

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BRENT: Resistance gradually moving down.

1. Brent oil daily price pattern remains in an ascending wedge.
2. Multiple tops placed at 52.75.
3. Hurricane “Harvey” supporting the oil prices.

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EURGBP: Spotted with a triple top.

1. Spotted with a triple top
2. 0.9230/0.9200 is the key to confirm the retracement
3. Resistance seems between 0.9270 and 0.9300

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EURUSD: Offering limited upside risk.

1. Potential resistance seems between 1.2000-1.2040.
2. Pricing the September ECB meeting.
3. US nonfarm payroll is the central theme this week.

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AUDJPY : Supply zone seems between 87.60-88.20

1. AUDJPY re-tested the 100EMA again.
2. It has a parallel support finds between 85.65 and 85.45.
3. The Near term trading range remains between 88.20 and 85.40.

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USDJPY: Near term resistance seems between 109.90 and 110.20

1. USDJPY retraced and rebound.
2. On a verge of a trend line breakout.
3. Probably made a double bottom.

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NZDJPY: Interesting trend line in focus.

1. Retraced near 70.0% (Mid April-July rally).
2. Interesting trend line in focus.
3. Positive divergence visible.

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KTM overview in FX and commodities breakouts and breakdowns.

1. USD buying witness across the board.
2. GBPNZD chart of the week and month.
3. Natural gas term trend reversal expected.
4. CHFJPY large H&S pattern.
5. GBPAUD and GBPCAD currently trading on a verge of a breakout.

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USDCAD technical view ahead of NFP.

1. CAD boosted with Q2 GDP growth.
2. Medium-term potential support zone remains between 1.2360 and 1.2320 levels.
3. The strong GDP data supports another BoC rate hike in September.

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NZDCAD: Spotted with a classic bearish H&S shoulder

1. Medium term perspective we believe it could drop to 0.8600.
2. The 61.8% finds at 0.8920 (Aug2015-Nov 2016 rally).
3. We are watching 0.8920 and 0.8880 levels.

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CADJPY: Spotted with an inverse H&S pattern on the weekly chart.

1. CADJPY likely to cap between 90.00 and 90.70.
2. Spotted with an inverse H&S pattern on the weekly chart.
3. A neck line breakout needed to erase the “Topish” view.

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USDJPY: Deep cut expected

1. The brand new week likely to open with hile volatile again
2. North Korea on Sunday conducted its sixth and most powerful nuclear test,
3. USDJPY supports moved to 109.80

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EUR strength will shift the focus to ECB staff projection.

1. We believe the inflation and ECB's growth forecast will be quiet.
2. We recommended sell trade last week, retraced beyond our targets.
3. We are not expecting a new information in this week’s ECB meeting

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AUDUSD: Supports are moving gradually higher.

1. We believe the RBA likely to keep the rates on hold.
2. Aussie bulls are gearing up with a higher low pattern.
3. Facing resistance at 200WMAs for seven straight weeks.

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Central Banks out this week

1. A number of central bank meeting grab the attention.
2. Focus on EURUSD,EURCHF,EURGBP,AUDUSD,AUDNZD and USDCAD.
3. Policy action not expected widely.

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Natural Gas update 2: Another breakout looms

1. Snapped the three-month falling streak.
2. Break through a large symmetrical triangle
3. It has been facing resistance at 200DEMA.

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Divergence observed between BRENT and WTI

1. Brent oil price was pulled down marginally on Monday session after North Korea hydrogen bomb test.
2. Last month price action consolidated in a tight range but traded mostly above 52$.
3. The price action divergence observed between BRENT and WTI.
4. Hedge funds and money managers cut their bullish bets on U.S.

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EURUSD: The recent price action elevated the nose.

1. The Higher low pattern remains in play.
2. Focus to ECB staff projection.
3. The weekly trading range expected between 1.1600 and 1.2150.

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EURGBP: A breakdown below 0.9150 needed to retrace further

1. UK political uncertainty pressures the GBP.
2. EUR underperformance lifted GBP last week.
3. Near term, trend casts on the ECB meeting.

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AUDUSD update 2: Aussie bulls are gearing up with a higher low pattern.

1. RBA leaves the cash rate on hold at 1.5% a record low.
2. Further swing cast on upcoming GDP data today.
3. Supports are moving gradually higher to 0.7860 from 0.7800.

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