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FxWirePro: USD/ZAR rejects key support at 12.38 mark, bias remains slightly bullish

FxWirePro: USD/THB moves in stiff boundaries, sustained close below 31.91 requires for downside rally

FxWirePro: AUD/NZD forms streaks of bearish patterns to signal overbought pressures, major downtrend stuck in range – Trade boundary binaries

FxWirePro: GBP/JPY trades weak on renewed geo political tension between US-North Korea, good to sell on rallies

FxWirePro: USD/CAD recovers slightly on US auto tariff worries, good to buy on dips

FxWirePro: Singapore dollar trades marginally lower ahead of manufacturing output data

FxWirePro: USD/CHF trades lower on safe haven demand, good to sell on rallies

FxWirePro: AUD/JPY pauses downside at 50-DMA support, further weakness only on break below

FxWirePro: Indian rupee trades marginally higher against U.S. dollar, faces strong resistance at 68.43 mark

FxWirePro: GBP/JPY trades well below trend line support, dip till 145 likely

FxWirePro: USD/CHF trade Idea

FxWirePro:Nikkei Daily Outlook

FxWirePro: Japanese yen depreciates in early Asia as Tokyo core CPI data misses expectations

FxWirePro: USD/CNY stabilizes above 6.37 mark, PBOC sets yuan mid-point at 6.3867

FxWirePro: EUR/CHF breaks below 200-DMA, eyes 38.2% Fib at 1.1477, stay short

FxWirePro: Go long on XAG/USD around $16.58 with stop loss at $16.53 and target of $16.80

FxWirePro: 50-DMA caps upside in AUD/CAD, break above targets 38.2% Fib at 0.9817

FxWirePro: AUD/USD holds support at 38.2% Fib at 0.7893, break below to see further weakness

Monday, February 5, 2018 6:28 AM UTC
0
comments
  • AUD/USD broke below 20-DMA at 0.7980, hit 4-week low at 0.7890, bias remains bearish.
     
  • The pair has held support at 38.2% Fib at 0.7893, break below will see resumption of weakness.
     
  • We see the major is extending downside after formation of bearish divergence on RSI and Stochs.
     
  • Immediate support is seen at 0.7893 (38.2% Fib retrace of 0.7501 to 0.8135 rally), while immediate resistance is seen at 20-DMA at 0.7983.
     
  • Focus on Australia retail sales and RBA monetary policy decision for further impetus.
     
  • The RBA likely to stay pat, while commentary will be more upbeat after a positive run of data both domestically and globally.

Support levels - 0.7893 (38.2% Fib retrace of 0.7501 to 0.8135 rally), 0.7818 (50% Fib), 0.7778 (100-DMA)

Resistance levels - 0.7983 (20-DMA), 0.8005 (5-DMA), 0.8043 (Feb 2 high)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-USD-struggles-at-080-handle-break-below-20-DMA-at-07986-to-accentuate-weakness-1129904) has hit all targets.

Recommendation: Book partial profits, trail stop loss to 0.80, watch out for break below 38.2% Fib for further weakness.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

 

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