| |
| |
FX Strategy 28 Oct 2020 |
| |
In the G10 FX Market, JPY and AUD are the top gainers today, up 0.22% and 0.06% versus the dollar while NOK and EUR are the top losers, down -0.36% and -0.29% versus the dollar, respectively. In the rates market, global yields were trading mixed today. The Japan 10-year was trading at 0.022, flat 0.0bp. The German 10-year was trading at -0.631, down -0.9bp. The US 10-year was trading at 0.758, down -1.3bp. The UK 10-year was trading at 0.216, down -1.8bp. |
| |
In the Asian equities, markets were trading mixed today. The Kospi was trading at 2345.26, up 0.62%. The Nikkei 225 was trading at 23418.51, down -0.29%. The Hang Seng was trading at 24664.0, down -0.5%. In the European equities, indices were trading weak today. The Euro Stoxx 50 was trading at 3011.64, down -1.92%. The FTSE 100 was trading at 5647.35, down -1.43%. The DAX 30 was trading at 11800.6, down -2.18%. |
| |
Looking at Equity Futures so far, the SP500 Futures was trading at 3352.38, down -0.91%. The Euro Stoxx 50 Futures was trading at 3002.0, down -2.15%. The FTSE100 Futures was trading at 5620.8, down -1.6%. |
| |
In the Energy space, Oil futures were trading weaker today. The Brent Crude Futures was trading at 40.62, down -1.41%. The WTI Crude Futures was trading at 38.39, down -2.98%. |
| |
In terms of economic data releases, we have already seen Australian Inflation Rate YoY Q3 (Actual 0.7% v Forecast 0.6%) and QoQ Q3 (Actual 1.6% v Forecast 1.4%). Earlier we have also had September German Import Prices YoY (Actual -4.3% v Forecast -4.2%) and MoM (Actual 0.3% v Forecast -0.4%) alongside Turkish Economic Confidence Index for October (Actual 92.8 v Forecast 85.1), the CBRT Inflation Report plus French Consumer Confidence (Actual 94 v Forecast 91) for October and the South African Inflation Rate YoY (Actual 3.0% v Forecast 3.2%) for September. Spanish Retail Sales for September MoM (Actual -0.3% v Forecast -2.7%) and YoY (Actual -3.3% v Forecast -4.3%) was also just released onto the wires. |
| |
Looking forward to the morning session, Italian PPI for September YoY (Previous -3.3% v Forecast -4.3%) and MoM (Previous -0.3% v Forecast -2.7%) is released at 10:00 GMT with the MPC Meeting Summary from Turkey released at 11:00 GMT. |
| |
This afternoon we start with US Wholesale Inventories MoM Adv (Previous 0.4% v Forecast 0.2%) and US Goods Trade Balance Adv (Previous $-83.11B v Forecast $-80B) both for September. Bank of Canada Interest Rate Decision follows at 14:00 GMT with US Weekly Oil data released at 14:30 GMT. |
| |
This evening, the Brazilian Interest Rate Decision is at 21:00 GMT with no change expected from current 2%, alongside the Business Confidence data release from South Korea (Previous 68 v Forecast 68) for October. Japanese Retail Sales YoY (Previous -1.9% v Forecast -6.0%) and MoM (Previous 4.6% v Forecast 1.5%) for September follows at 23:50 GMT. |
| |
10-Year Yields Daily Chart (1-month) |
| |
| |
| |
Daily FX Pivots |
| |
| |
| |
Brent Crude Daily Chart (1-month) |
| |
| |
| |
Forex Chart and Technical Analysis |
| |
EURUSD Chart (Two-week) |
| |
| |
| |
Strategy: Resistance at 1.1809 for 1.1732
Short-term view: EURUSD resistance comes in at 1.1809 MACD and RSI have a bearish bias. Hence, we see a dip to 1.1732 enter at 1.1784. Above 1.1809 to open 1.1825 |
| |
GBPUSD Chart (Two-week) |
| |
| |
| |
Strategy: Support at 1.2963 for 1.3042
Short-term view: GBPUSD support comes in at 1.2963 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.3042 enter at 1.2989. Below 1.2963 to open 1.2926 |
| |
USDJPY Chart (Two-week) |
| |
| |
| |
Strategy: Resistance at 104.57 for 103.74
Short-term view: USDJPY resistance comes in at 104.57 MACD and RSI have a bearish bias. Hence, we see a dip to 103.74 enter at 104.3. Above 104.57 to open 104.74 |
| |
AUDUSD Chart (Two-week) |
| |
| |
| |
Strategy: Resistance at 0.7146 for 0.7113
Short-term view: AUDUSD MACD and RSI are flat but resistance comes in at 0.7146 and we see a dip to 0.7113 enter at 0.7135. Above 0.7146 to open 0.7163 |
| |
| |
| TraderMade
Kingfisher House, 21-23 Elmfield Rd
Bromley, Kent, BR1 1LT, United Kingdom
E: info@tradermade.com
T: +44(0)20 8313 0092
S: 0800 298 2520 (24hr) | | | | | | | |
| | | The FXNavigator On-line Research Service (the "Service") is provided by Tradermade Systems Ltd ("TraderMade"). The Service is comprised of annotated charts ("Charts"), technical commentary ("Commentary"), TraderMade strategies ("Strategies") and technical alerts ("Alerts"). The Service is delivered to end-users through a variety of mechanisms, including but not limited to TraderMade's own proprietary platforms, Thomson Reuters own proprietary platforms, email, RSS, Twitter, Facebook and LinkedIn.
This document outlines TraderMade's specific disclaimers about usage of the content of this Service. TraderMades General Terms and Conditions for use of the service are located here: Terms and Conditions.
TraderMade is an independent information supplier and does not provide trading accounts or hold any Clients funds or monies for trading or trading related activities.
General nature of the Service.
The content of this Service is of a general nature without specific knowledge of any end-users personal or financial circumstances and is therefore presented for the end-user viewers information and entertainment only.
Any trading Strategies outlined in the Service are no more than the opinions of Analysts and are hypothetical disclosures based upon general predictions and interpretations of the Market being analysed.
Service Delivery and Delays.
The content of the Service is delivered as quickly as is reasonably possible using multiple routing venues and internet technologies.
By using the Service, end-users acknowledge that the Service may be delayed for reasons beyond the reasonable control of TraderMade.
For the avoidance of doubt, each part of the Service is current only as at the date and time shown on the part in question, not the date and time delivered and not the time first viewed by the end-user.
Indicative Prices.
Charts, Alerts and other quantitative Market information supplied within the Service are based upon the market data that is supplied to TraderMade by reputable third parties, and TraderMade use this information in the Service in good faith.
TraderMade provide no assertion or warrantee that prices or market levels indicated in any part of the Service will in fact be reflected in any exchange, any market place or any trading platform.
Markets Trading
Trading or investing in any market-traded financial instrument, including foreign exchange, contains significant levels of inherent financial risk. End Users involved in trading activities may lose some or all of the money they invest in those trading activities, and in certain cases may lose more than they have invested.
TraderMade strongly recommend that all end-users take independent advice from a financial or trading professional who is apprised of their individual circumstances before commencing trading activities.
Only true discretionary income should be used for trading in the Foreign Exchange market. If you are considering trading in the Foreign Exchange market before you trade make sure you understand how the spot market operates and be thoroughly familiar with the operation of and the limitations of the platform on which you are going to trade.
No parts of the Service, including the Strategies, are a solicitation or enticement by TraderMade or any person or any organisation to transact any financial instrument now or at any time in the future.
Due to the inherent risks and unknowable nature of the future behaviour of financial markets, TraderMade take no responsibility for any individual investment decisions taken by any end-user based upon any part of the Service. | | | |
No comments:
Post a Comment