FX Strategy 30 Apr 19

GBP, EUR, and JPY are the top G10 FX gainers today, up 0.34%, 0.22%, and 0.22% vs the dollar while USD is the top loser. In the Asian equities space, Nikkei is close due to Japanese holidays the Hang Seng closed -0.65% at 29,699.11 and Kospi ended -0.58% at 2203.59. The European equities were trading weaker with the FTSE down -0.37% at 7423.75, DAX -0.12% at 12,312.75, and CAC -0.44% at 5556.07. In the rates market, global yields were trading mixed the US 10-year yield was trading at 2.53% and the Bund 10-year yield trading at 0.01%. In the energy space, the Brent (front month) is trading up (+0.82%) for the day at $72.56. in terms of key events, German inflation rate (preliminary) will be due at 1300 GMT.


USD-Index Daily Chart (6-month)



Brent Front Month Daily Chart (6-month)



Trade Weighted Basket Hourly (two-week)




Major Currency Pairs


EURUSD Chart (Two-week)



Strategy: Support at 1.1162 for 1.1262
Short-term view: EUR/USD holding above 1.1162, we look for 1.1262 and 1.1304 in the short-term. A move below 1.1162 to open 1.1110



GBPUSD Chart (Two-week)



Strategy: Resistance at 1.3017 for 1.2900
Short-term view: GBP/USD has resistance at 1.3017, MACD showing signs of topping out. Hence, we see a dip to 1.2900. Above 1.3017 to open 1.3096 in the short-term.



USDJPY Chart (Two-week)



Strategy: Resistance at 111.65 for 110.50
Short-term view: USD/JPY resistance at 111.65, MACD and RSI giving bearish signals, Hence we see a dip to 110.93 and 110.50. Above 111.65 to open 112.07



AUDUSD Chart (Two-week)



Strategy: Resistance at 0.7065 for 0.7018
Short-term view: AUD/USD MACD and RSI are topping out hence there is a risk of a move lower to 0.7018 and possibly 0.6984. A move above 0.7065 to question downside instead open .7098.



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