Buz Investors EURUSD Marginally Higher A very light economic calendar and some easing political concerns are resulting in a modest gain in EUR/USD in today’s trading. The pair is currently at 1.0619, up 0.10% over Friday’s close.

EURUSD FOREX EXCHANGE Higher MIDDAY Friday August 18

EURUSD FOREX EXCHANGE Higher MIDDAY Friday August 18

EURUSD FOREX EXCHANGE increased 0.0019 or 0.16% to 1.1742 on Friday August 18 from 1.1723
EUR/USD’s corrective fall from 1.1908 is still in progress and outlook is unchanged. While deeper pull back could be seen, downside should be contained by 38.2% retracement of 1.1119 to 1.1908 at 1.1606 to bring rebound. On the upside, break of 1.1908 will extend recent up trend to 1.2042 long term support turned resistance next.

EURUSD FOREX EXCHANGE increased 0.0019 or 0.16% to 1.1742 on Friday August 18 from 1.1723 in the previous trading session. Historically, the Euro Dollar Exchange Rate – EUR/USD reached an all time high of 1.87 in July of 1973 and a record low of 0.70 in February of 1985. The euro was only introduced as a currency on the first of January of 1999. However, synthetic historical prices going back much further can be modeled if we consider a weighted average of the previous currencies.

The EUR/USD pair touched a 3-week low level of 1.1662 on Thursday and was being weighed down by the release of dovish ECB monetary policy meeting minutes. The ECB’s July meeting showed policy makers were concerned with the recent Euro appreciation and believed that underlying inflation has not yet shown convincing signs of a pickup.



EURUSD FOREX EXCHANGE

 

The central bank also raised concerns over the possible risk of exchange-rate overshoot in the future and dragged the pair to fresh monthly lows. The pair, however, managed to recover from lows and was being supported by fizzling post-FOMC minutes US Dollar recovery, especially after rumors that National Economic Council Chairman Gary Cohn was set to resign, though was quashed by the White House later.

From a technical perspective, the pair has managed to rebound from an important support marked by a short-term descending trend-channel formation on 4-hourly chart. The pair is now holding comfortably above the 1.1700 handle and a subsequent up-move beyond 1.1750 level now seems to pave way for extension of the appreciating move towards the trend-channel resistance, currently near the 1.1820 region. Intermediate resistance is seen at 1.1780 level and the 1.1800 round figure mark.




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AUDUSD flirting with 2-month lows

AUDUSD FOREX EXCHANGE HIGHER MIDDAY Friday August 18

AUDUSD FOREX EXCHANGE HIGHER MIDDAY Friday August 18

AUDUSD FOREX EXCHANGE increased 0.0051 or 0.64% to 0.7935 on Friday August 18 from 0.7884
As noted before, the corrective pull back from 0.8065 should have completed at 0.7807, ahead of 0.7785 cluster support (38.2% retracement of 0.7328 to 0.8065 at 0.7783) as expected. Intraday bias remains mildly on the upside for retesting 0.8065 first. Firm break there will resume the medium term rise and target 100% projection of 0.6826 to 0.7833 from 0.7328 at 0.8335.

AUDUSD FOREX EXCHANGE increased 0.0051 or 0.64% to 0.7935 on Friday August 18 from 0.7884 in the previous trading session. Historically, the Australian Dollar reached an all time high of 1.10 in July of 2011 and a record low of 0.48 in April of 2001.

24-hour view: “We indicated yesterday that while extension higher is likely, “a sustained move above 0.7955 is not expected”. AUD briefly touched a high of 0.7962 but the subsequent sharp drop from the top came as a surprise.



AUDUSD FOREX EXCHANGE

The decline appears to have scope to extend lower to 0.7855/60 but a clear break below this level is not expected for now (next support is at 0.7830). Resistance is at 0.7905 followed by 0.7935. The high of 0.7962 is not expected to come into the picture”.

Next 1-3 weeks: “We turned neutral on AUD yesterday and were of the view that the immediate upward pressure could carry it higher but the 0.7980 level is expected to offer solid resistance. AUD hit a high of 0.7962 but the up-move was quickly reversed. From here, as long as 0.7850 is intact, another attempt to test 0.7980 is not ruled out even though the odds for such a move have diminished after the sharp pullback yesterday. A clear move back below 0.7850 would increase the risk of a break of the major support near 0.7805 (rising daily trend-line support which coincides with the 0.7806 low seen earlier this week)”.




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USDCAD Trump Shock Pushes Canadian Dollar Down

USDCAD FOREX EXCHANGE OPENED HIGHER Friday August 18

USDCAD FOREX EXCHANGE OPENED HIGHER Friday August 18

USDCAD FOREX EXCHANGE increased 0.0072 or 0.57% to 1.2686 on Friday August 18 from 1.2614
USD/CAD down 1.09% Daily outlook – USD/CAD down 1.09% The USD/CAD currency exchange rate had a quite turbulent Wednesday, as the Greenback depreciated against the Loonie by 1.09% and, in the result, broke through the southern boundaries of a medium-term and short-term channels. To a large extent the downfall was caused by disappointing news coming from both the White House and …

USDCAD FOREX EXCHANGE increased 0.0072 or 0.57% to 1.2686 on Friday August 18 from 1.2614 in the previous trading session. Historically, the Canadian Dollar reached an all time high of 1.61 in January of 2002 and a record low of 0.92 in November of 2007.

USD/CAD’s fall and break of 1.2652 minor support suggests that recovery from 1.2412 has completed at 1.2777 already. Intraday bias is turned back to the downside for retesting 1.2412 low. Break there will resume the larger decline and target next long term fibonacci level at 1.2048. On the upside, above 1.2777 will extend the recovery. But we’d expect upside to be limited by 38.2% retracement of 1.3793 to 1.2412 at 1.2940 to bring fall resumption.



USDCAD FOREX EXCHANGE

 

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Such corrective fall is still expected to extend to 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. Nonetheless, on the upside, sustained break of 1.2968, 38.2% retracement of 1.3793 to 1.2412 at 1.2940 will be the first sign of completion of the correction and will turn focus back to 1.3793 key resistance.




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AUDUSD flirting with 2-month lows

AUDUSD FOREX EXCHANGE OPENED Higher Friday August 18

FOREX EXCHANGE OPENED Higher Friday August 18

 AUDUSD FOREX EXCHANGE decreased 0.0048 or 0.60% to 0.7875 on Friday August 18 from 0.7922
It is true that this pair is on the rise. But as a trader, you need to think ahead. I am seeing possible BEAR attack near 0.7985 level and it gonna be hard. From there, we need to see how candle form by then. I am expecting more bears will unleashed soon. Trade

 

 AUDUSD FOREX EXCHANGE decreased 0.0048 or 0.60% to 0.7875 on Friday August 18 from 0.7922 in the previous trading session. Historically, the Australian Dollar reached an all time high of 1.10 in July of 2011 and a record low of 0.48 in April of 2001

AUD/USD’s strong rebound and break of 0.7918 resistance suggests that pull back fro 0.8065 has completed at 0.7807. The pair was supported by 0.7785 cluster support (38.2% retracement of 0.7328 to 0.8065 at 0.7783) as expected. Intraday bias is turned back to the upside for retesting 0.8065 first. Firm break there will resume the medium term rise and target 100% projection of 0.6826 to 0.7833 from 0.7328 at 0.8335.



 AUDUSD FOREX EXCHANGE

In the bigger picture, rise from 0.6826 medium term bottom is still in progress. At this point, there is no confirmation of trend reversal yet and we’ll continue to treat such rebound as a corrective pattern. But in any case, break of 55 month EMA (now at 0.8100) will target 38.2% retracement of 1.1079 to 0.6826 at 0.8451. Break of 0.7328 support is needed to confirm completion of the rebound. Otherwise, further rise is now expected.




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Gold prices edged lower on Friday, still weighed by the previous session’s upbeat U.S. economic growth data, although hawkish

GOLD FUTURES PRICE HIGHER MIDDAY Thursday August 17

GOLD FUTURES PRICE HIGHER MIDDAY Thursday August 17

GOLD FUTURES PRICE increased 2.64 USD/t oz. or 0.21% to 1,285.67 on Thursday August 17 from 1,282.71
Gold prices are posting good gains in early U.S. trading Thursday. The yellow metal bulls are encouraged by the recent releases of minutes from the two major central banks of the world (Federal Reserve and European Central Bank) that suggest their monetary policies will remain very accommodative. December Comex gold was last up $8.60 an ounce at $1,291.50. September Comex silver was last up $0.145 at $17.09 an ounce.

GOLD FUTURES PRICE increased 2.64 USD/t oz. or 0.21% to 1,285.67 on Thursday August 17 from 1,282.71 in the previous trading session. Historically, Gold reached an all time high of 1898.25 in September of 2011 and a record low of 34.83 in January of 1970.

Gold prices continued higher Thursday, boosted by haven demand after U.S. President Donald Trump disbanded two business councils and minutes from the Federal Reserve’s meeting last month pointed to concerns over sluggish inflation.



GOLD FUTURES PRICE

“The weak bond market, combined with the overpriced equities and housing, indicate inflation is rearing its ugly head—and it could be accelerated with the geopolitical uncertainty in Washington,” said Jeb Handwerger, editor of GoldStockTrades.com, which focuses on mining exploration companies. He referred to the president as “a golden swan to precious metal and commodity investors who love uncertainty and volatility.”

If gold breaks through $1,300 an ounce, he expects “a move to test decade highs made in 2011 at $1,900.

On Thursday, gold for December GCZ7, +0.65%  picked up $7.80, or 0.6%, to $1,290.60 an ounce, off their best levels intraday, but building on a 0.3% advance from Wednesday.




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AUDUSD flirting with 2-month lows

AUDUSD Forex Exchange Higher Midday Thursday August 17

AUDUSD Forex Exchange Higher Midday Thursday August 17

AUDUSD Forex Exchange increased 0.0003 or 0.03% to 0.7925 on Thursday August 17 from 0.7922
Having touched a two-week high level of 0.7963, the AUD/USD pair changed course and has now drifted into negative territory. Currently placed at session lows, around the 0.7920-15 region, the pair stalled its strong recovery move from near one-month lows touched on Tuesday and retreated around 40-pips from session tops.

AUDUSD Forex Exchange increased 0.0003 or 0.03% to 0.7925 on Thursday August 17 from 0.7922 in the previous trading session. Historically, the Australian Dollar reached an all time high of 1.10 in July of 2011 and a record low of 0.48 in April of 2001.

AUD/USD’s strong rebound and break of 0.7918 resistance suggests that pull back fro 0.8065 has completed at 0.7807. The pair was supported by 0.7785 cluster support (38.2% retracement of 0.7328 to 0.8065 at 0.7783) as expected. Intraday bias is turned back to the upside for retesting 0.8065 first. Firm break there will resume the medium term rise and target 100% projection of 0.6826 to 0.7833 from 0.7328 at 0.8335.




AUDUSD Forex Exchange

In the bigger picture, rise from 0.6826 medium term bottom is still in progress. At this point, there is no confirmation of trend reversal yet and we’ll continue to treat such rebound as a corrective pattern. But in any case, break of 55 month EMA (now at 0.8100) will target 38.2% retracement of 1.1079 to 0.6826 at 0.8451. Break of 0.7328 support is needed to confirm completion of the rebound. Otherwise, further rise is now expected.




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USDCHF Clawing Back Following Monday’s Break

USDCHF Forex Exchange Higher Midday Thursday August 17

USDCHF Forex Exchange Higher Midday Thursday August 17

 USDCHF Forex Exchange increased 0.0008 or 0.08% to 0.9665 on Thursday August 17 from 0.9657
Despite yesterday’s brief rise to 0.9766, the subsequent sharp retreat after faltering below resistance at 0.9773 dampened our bullishness and further choppy consolidation below said resistance would be seen, hence weakness to 0.9630-35 cannot be ruled out, however, reckon downside would be limited to 0.9600-05 and support at 0.9583 should remain intact, bring another rebound later.

 USDCHF Forex Exchange increased 0.0008 or 0.08% to 0.9665 on Thursday August 17 from 0.9657 in the previous trading session. Historically, the Swiss Franc reached an all time high of 3.88 in April of 1972 and a record low of 0.72 in August of 2011.

USD/CHF remains on the upside for 0.9772 resistance. Decisive break there will revive the bullish case of reversal. That is, whole decline from 1.0342 has completed at 0.9437 after defending 0.9443 support. USD/CHF should then target channel resistance (now at 0.9862) next. On the downside, below 0.9675 minor support will turn intraday bias neutral first.



USDCHF Forex Exchange

Also, the pair is bounded inside medium term falling channel and limited below 38.2% retracement of 1.0342 to 0.9437 at 0.9783 for the moment. Break of 0.9582 will dampen our bullish view and turn bias back to the downside for 0.9437. This could also extend the fall from 1.0342 through 0.9437/43 key support level.

In the bigger picture, current development argues that USD/CHF has successfully defended 0.9443 key support level. And long term range trading in 0.9443/1.0342 is extending with another rise. At this point, there is no sign of an up trend yet. Hence, while further rise is expected in USD/CHF, we’ll start to be cautious on loss of momentum above 61.8% retracement of 1.0342 to 0.9437 at 0.9996. However, firm break of 0.9443 will carry larger bearish implication and would target next key support at 0.9072.




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USDCAD Trump Shock Pushes Canadian Dollar Down

USDCAD Forex Exchange Higher Midday Thursday August 17

USDCAD Forex Exchange Higher Midday Thursday August 17

USDCAD Forex Exchange increased 0.0024 or 0.19% to 1.2638 on Thursday August 17 from 1.2614
USD/CAD’s fall and break of 1.2652 minor support suggests that recovery from 1.2412 has completed at 1.2777 already. Intraday bias is turned back to the downside for retesting 1.2412 low. Break there will resume the larger decline and target next long term fibonacci level at 1.2048. On the upside, above 1.2777 will extend the recovery. But we’d expect upside to be limited by 38.2% retracement of 1.3793 to 1.2412 at 1.2940 to bring fall resumption.

 USDCAD Forex Exchange increased 0.0024 or 0.19% to 1.2638 on Thursday August 17 from 1.2614 in the previous trading session. Historically, the Canadian Dollar reached an all time high of 1.61 in January of 2002 and a record low of 0.92 in November of 2007.

The Canadian dollar has edged higher in the Tuesday session. In North American trade, USD/CAD is trading at 1.2756, up 0.28% on the day. On the release front, there are no Canadian events for a second straight day. In the US, Retail Sales came in at 0.6%, above the estimate of 0.3%. Core Retail Sales also looked sharp,



USDCAD Forex Exchange

with the gain of 0.5% beating the forecast of 0.3%. There was more good news from the manufacturing sector, as the Empire State Manufacturing Index soared to 25.2, crushing the estimate of 10.1 points. On Wednesday, the US releases Building Permits and Housing Starts. As well, the FOMC publishes its minutes from the July FOMC meeting.

It’s been a disappointing August for the Canadian dollar, which has dropped 2.2% this month. The currency has become less attractive with the current tensions in the Korean peninsula. Investors have lost some of their risk appetite and stayed away from minor currencies such as the Canadian dollar, preferring safe-haven assets such as the Japanese yen and gold. Still, Canadian fundamentals are in good shape, as recent employment and housing numbers have been strong. The currency is closely linked to oil prices, with the loonie gaining ground in July as oil prices went up, only to retract in August as crude prices have dropped this month.

 



 

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Gold decreased 2.75 USD/t oz. or 0.22% to 1,257.94 on Thursday May 25 from 1,258.10 in the previous trading session. Historically,

Gold Future Prices Opened Higher Thursday August 17

Gold Future Prices Opened Higher Thursday August 17

Gold Future Prices increased 3.44 USD/t oz. or 0.27% to 1,287.19 on Thursday August 17 from 1,282.71
Gold extended gains after the Federal Reserve released the minutes from its July 26 meeting at 2 p.m. in New York. The minutes showed Fed officials were split over the path of future monetary policy. Some officials preached caution while another raised concern over delaying the normalization process.

Gold Future Prices increased 3.44 USD/t oz. or 0.27% to 1,287.19 on Thursday August 17 from 1,282.71 in the previous trading session. Historically, Gold reached an all time high of 1898.25 in September of 2011 and a record low of 34.83 in January of 1970.

Gold prices finished with a gain on Wednesday as news that two White House business advisory groups have disbanded, fueling haven demand and prompting a late-session turn higher for the yellow metal.



Gold Future Prices

Gold gained further ground in electronic trading following minutes from the U.S. Federal Reserve’s July meeting, which were released after gold’s settlement and pointed to a central bank hamstrung by sluggish inflation.

“The acceleration in gold’s gains toward the regular session close was definitely due to the wave of resignations by CEOs from [President Donald Trump’s] business council,” Brien Lundin, editor of Gold Newsletter. “However, the minutes from the Fed’s last meeting also had a dovish tone, and this helped gold to rise even further.”

December gold GCZ7, +0.84%  rose $3.20, or 0.3%, to settle at $1,282.90 an ounce.




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