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FOREX MARKET RESEARCH Technical analysis

range
January 25, 2019
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CAD and GBP are the top G10 FX gainers today while USD and CHF are the top losers. Cable continues to stay strong testing a high of 1.3137 in early hours of trading. In our view, there is still downside risk especially with no consensus in the UK Parliament on Brexit, something UK Finance Minister stated on Friday. In the Asian equities space, the Nikkei 225 closed +0.97% higher at 20,773.56, Hang Seng closed 1.58% higher at 27551.85 and Kospi ended up 1.52% at 2177.73. The European equities were trading firm with the FTSE up 0.24% at 6833.00, DAX +0.86% at 11226.50, and CAC +0.43% at 4893.07. In the rates market, global yields were trading mixed; the US 10-year yield was trading at 2.72% and the Bund 10-year yield trading at 0.18%. In the energy space, the Brent (front month) is trading up (0.94%) for the day at $61.40.

 

Economic Calendar

 

 

USD-Index Daily Chart (5-month)

 

 

Brent Front Month Daily Chart (6-month)

 

 

Trade Weighted Basket Hourly (one-week)

 

 

Major Currency Pairs

 

EURUSD Chart (Two-week)

 

 

Strategy: Resistance at 1.1373 for 1.1250
Short-term view: EUR/USD resistance at 1.1373, RSI and MACD are bearish. Hence, we may see a dip to 1.1250. Above 1.1373 to open 1.1423.

 

 

GBPUSD Chart (Two-week)

 

 

Strategy: Resistance at 1.3150 for 1.2995
Short-term view: GBP/USD has resistance at 1.3150, MACD and RSI has a bearish bias. Hence, we see a dip to 1.2995, possibly 1.2925. Above 1.3150 to open 1.3204

 

 

USDJPY Chart (Two-week)

 

 

Strategy: Resistance at 110.00 for 108.50
Short-term view: USD/JPY resistance at 110.00 and MACD suggest a bearish bias. Hence, we see a dip to 109.08, possibly 108.50. Above 110.00 to open 110.50.

 

 

AUDUSD Chart (Two-week)

 

 

Strategy: Resistance at .7148 for 0.7033
Short-term view: AUD/USD resistance at 0.7148 and MACD and RSI have a bearish bias. Hence, we expect a dip to 0.7033. Above 0.7148 to open 0.7200.

 

 

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