Dollar posts modest gains in Asia

August 22, 2016

The US dollar index was seen trading stronger earlier this morning in the Asian session boosted by hawkish comments from Fed members last week and vice-president Fischer on Sunday. The day ahead is quiet with no major releases on the tap with prices likely to settle in a range into the European and US trading sessions. This week’s Jackson Hole symposium and speech from Janet Yellen will be the main events that traders will be looking forward to.

EURUSD Daily Analysis

EURUSD (1.127): EURUSD formed an inside bar on Friday with price action currently bearish and trading below Thursday's low of 1.1284. A bearish close below Thursday's low could see EURUSD post a pullback towards 1.120 to establish support. On the 4-hour chart, price action is seen currently testing the lower median line which could offer dynamic support for a minor bounce towards 1.130. Support at 1.120 will be critical as a break down below this level could see EURUSD slide towards 1.1150 and eventually back to 1.110. The upside remains limited unless support is formed near 1.120.

USDJPY Daily Analysis

USDJPY (100.84): USDJPY is seen bouncing off the 100.00, psychological support level with the daily chart showing a bullish divergence. Resistance at 102.00 will need to be cleared for price action to see any bullish follow through. The longer term resistance is seen at 106.00. On the 4-hour chart, USDJPY's price action could remain consolidating at the 101 - 100 level with a test to 102 likely only on a breakout from the falling trend line. Major resistance near 102 - 103 will need to be cleared for further gains to the upside.

GBPUSD Daily Analysis

GBPUSD (1.3039): GBPUSD has gapped lower this morning with price action likely to fall towards 1.30 to establish support. On the 4-hour chart following last week's rally to 1.3170, GBPUSD could be seen retesting the previously broken resistance level at 1.30 for support. In the near term, price could remain range bound within 1.317 and 1.30 with further bias established on a breakout from the support or the resistance levels.

Gold Daily Analysis

XAUUSD (1333.77): Gold prices are bearish following Friday's close below 1347.20 with a likely decline in prices towards 1315.00 support. On the 4-hour chart price action remains trading flat with no clear direction being established just as yet. The 4-hour Stochastics is currently in the oversold area which could indicate a near-term pullback. Resistance is seen at 1341 - 1340 which could cap prices, while support is seen at 1327.50.

Publication source
Orbex information  Orbex reviews

December 2, 2016
Equities headed broadly south in Asia overnight
Revealed a solid 53.2 November ISM reading and a 0.5% October construction spending rise that followed big upward Q3 revisions, both of which lifted prospects for GDP. We also saw a 17k Thanksgiving week spike in claims that reversed the remarkably tight 333k Veteran's Day figure...
December 2, 2016
Silver lining for precious metals?
I do apologise in advance for bombarding you with lots of commodity reports, but ahead of Friday’s NFP report, the FX markets tend to create lots of false moves, so it is difficult to make much of todays moves...
December 2, 2016
Payrolls Friday. USDJPY doji, third time's a charm
Its payrolls Friday and the markets are expecting to see a solid print for November following Wednesday's ADP payrolls increase. Yesterday, the ISM and Markit's manufacturing PMI showed a strong increase in the reading...

Grand Capital Rating
FxPro Rating
HYCM Rating
OANDA Rating
FIBO Group Rating
OctaFX Rating

OptionFair Rating
TopOption Rating
Grand Option Rating
OptionRally Rating
IQ Option Rating
365BinaryOption Rating