Currency movers for October 19, 2015

19 October, 2015

AUDUSD, Daily

AUDUSD 5-day change is lower against other major currencies in what seems to be a pause in the recent price rally from the September 29th low (0.6936) to the Oct 12th high (.7380). Daily technical observations spots a bullish 10,50 SMA cross, consecutive higher tops and bottoms on price from September 4th – October 12th (0.69 L / .7380 H ) and the fact that current price is trading above the 10,50 SMA brings me to the conclusion that price remains in a short term uptrend. If today’s low on price holds above the 0.7230 area this could create a lower top above last week’s low (0.72) that may open up the way towards 0.7380; my ultimate short term price objective near 0.7440. However, traders should be on alert for any break below the 0.72 support that may support a deeper price retracement from the September Low to October’s current high with relevant support in this case spotted around the 0.71-0.7110′s.

GBPAUD, Weekly

GBPAUD weekly chart analysis, price touched a six year high at 2.24 late August and since has made a series of lower tops on price. Current price is trading below both the tentative downward slopping trend line, and the 10 period SMA. Stochastic oscillator analysis spots a bullish cross below the 20 line indicating a possible pause in the current downward price direction. My conclusion for the weekly chart trader is to sell into any strength higher up from current price, ideally near the 2.14 area for a 2.03 target.


Source link  
Stock market recovery continued

Still, U.K. and U.S. futures are also moving higher, indicating that abating fears over North Korea are keeping markets underpinned, while earnings optimism...

NZDJPY beneficiary of Asian session

With a the NZD is overvalued on one side and Sabre rattling between North Korea and the US continuing overnight there was really only...

Euro above 1.18 against the dollar

Asian stock markets moved higher, with a rally in banks underpinned by earnings reports and helping to offset pressure on exporters and automakers...


Gold support at 1258 but rolled over 15m

Gold remains bullish having posted at high over 1265 yesterday. My bias remains long and I entered again at 1258 last night. However, the intraday...

FOMC held rates steady

The Fed’s reluctance to commit to a time for QT beyond “relatively soon” and the fact that the Fed appeared to be moderately more concerned...

FOMC decision to outline its balance

U.S. markets will have a lot on their plates this week as they continue to assess the June jobs data, global developments in the aftermath of the G20 meeting...


Dollar majors have been challenged

EURUSD has settled around 1.1350, modestly above the five-session low posted yesterday at 1.1336. USDJPY has been trading on either side of 113.00...

Yen crosses keep ascending

The yen is coming under pressure across-the-board, with the 0% yielding yen converting back to the funding currency of choice in the forex market...

Oil prices hold above USD 44 per barrel

Asian stock markets mostly headed south, with Australia’s ASX a notable exception. Elsewhere markets followed Wall Street lower...

  


Share: