AUD/USD Stonger ahead of Australian data tomorrow

The Aussie is seen higher today and moved up to 0.7874, the highest level for the last 5 sessions despite greenback’s comeback. The AUD/USD pair is up with 0.33% today and the short term outlook favor an advance. On the four hour time frame the price is developing above the 20-day SMA, which has started to turn north. Meanwhile the 100-day SMA crossed to below the flat 200-day SMA. Stochastic has retreated from the extreme oversold area but has lost directional strength and is currently located at 80. RSI is slightly above its mid-line and has also aiming north. 

During the upcoming Asian session Australia will release August retail sales and trade balance figures and both are expected to be above July’s numbers. If that’s the case, we may see the pair extending the rally towards 0.79 and even higher. 

An Economic Calendar by ActivTrades

Knowing the economic events with high impact on market is of great importance because this may ease your trading. Once you may avoid and next time to boost your results. 

So checking regularly the economic calendar is quite essential.

My broker, ActivTrades, offers all traders this valuable resource and it’s very practical and easy for use. You may track on the ActivTrades economic calendar based on all sorts of criteria - the dates you are interested in, the events type, news by countries and the impact on markets (high, medium or low).

To be informed about the fundamental news that are influencing the market every single day, I suggest you to take advantage of this vital trading resource!

More details you may find here!

AUD/USD Bulls Keep On Moving

The AUD/USD pair powerfully moved to the upside and printed fresh three month high at 0.7695 today. Strong macro data from Australia supported the surge, driven mainly by the fantastic trade surplus. 

Upon the US session the pair pulled back and is currently trading at 0.7661. 

Since January 17th the pair  has been caught within relatively tight range, but now seems to be getting out of it. In the short run this performance could be read as correction to the downside. But the four-hour time frame is indicating bullish trend. The price has crossed to above the 20-day SMA, which is also in tact with the bulls. RSI has retraced from the overbought territory and Stochastic has turned to south. Generally this is against the short term bullishness, but I think that both indicators are now in favour of the current pullback and do not significantly prove further decline. Strong support is seen at 0.7600 and lower at 0.7550. Resistance is located now at 0.7695 and higher at 0.7777.

The Pleasure Cruise Of US Dollar Against The Japanese Yen

Flown in the swiftness of time now the safe-haven is biting the dust on the roller coaster ride.

The Japanese Yen is currently weaker and pressured by the greenback. During today’s trading the USD/JPY pait marked an intraday high at 113.52. A level not seen since late March 2016.  

The mixed Japanese macro data released today additionally influenced the pair.The Nikkei Manufacturing PMI didn’t achieved the target set. But the Japanese leading economic index for September posted relevant numbers.      

Technical readings are shifting the mood into positive sounds. The price is placed well below the 50-day, 100-day and 200-day simple moving averages. RSI is placed within extreme values and showing bullish trend. Stochastic is also pointing extreme overbought market but displaying lack of momentum. 

First support is located at 109.19 and second at 108.52. Looking to the upside, bulls are targeting the first resistance placed at 113.82. In case of conquering it, next will be thinking of 114.63.

The Trump factor high rocketed the USD/JPY pair

As expected there was high volatility and this naturally perplexed the markets. The winner turned to be Trump and therefore the US Dollar began to weaken against the major currencies. The Mexican peso hit a record low. The greenback began to weaken against the Japanese Yen and the EUR as well and pinned 101.20 and 1.1300 respectively. Looking for safety, markets turned to more secure currencies – the Japanese Yen and the Swiss franc.  

After marking the low at 101.20, the USD/JPY pair quickly pushed higher to print new fresh 4-month high at 105.85. Although at the moment the uncertainty has gripped the markets, the pair is continuing its rally, as seen on the 4-hour chart. 

And indicators seem to favour the rally. Its clearly seen the sharp bounce from the oversold areas. RSI is showing overbought market and is currently placed at 63%. Stochastic turned to north and is also confirming the strong bullish slope. Another point is that the price has returned back above the levels of the 100-day and 200-day SMA. 

First resistance is seen now at 106.00 while the first support is currently located at 105.50.

Thriller, votes and EUR/USD

EUR/USD was thrilled during yesterday’s trading and tried to push higher, marked an intraday high at 1.1110, but closed lower at 1.1040. The pair sloped under the range and couldn’t clearly break above the 200-day ЕМА. 

Monday’s mood seems to be extended into today as markets are already pricing the US votes. Initial results are showing a slight advantage for Mrs Clinton and therefore equities and commodities currencies were elevated. Meanwhile some macro data in Europe was release, but markets ignored it, as the attention is focused on the US election day.

The EUR/USD is feeling under great pressure and the pair fell to previous lows and was testing the 1.1010 level. Clinton’s victory might drive the pair downwards to October 25th low at 1.0850.

Indicators are placed within negative territory. RSI is currently at around 36% level and stochastic is showing oversold market, both confirming the bearish trend. 

Anyway the elections results have the last saying and the pair’s direction is still being uncertain.