- January 25, 2019
- Posted by: range
- Category: FOREX, MARKET RESEARCH, Technical Analysis
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.
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.
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
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.
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.
