Forex Market Commentary By TitanFX

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Old Jul 14, 2015, 4:18am   #17
Joined Apr 2015
Aussie Dollar Primed for Gains against Yen

titanfx started this thread Key Highlights
• Aussie Dollar traded higher versus the Japanese Yen, and looks set for more gains in the near term.
• Australian National Australia Bank Business Confidence released during the Asian session came in at 10, up from the previous revised reading of 8.
• Australian NAB Business conditions were also up from the last revised reading of 6 to 11 in June 2015.

Australian National Australia Bank Business Confidence
There was a major release in Australia, as the National Australia Bank Business Confidence, which is a survey of the current business condition in Australia was published. The outcome was on the higher side, as the business confidence increased from 8 to 10 in June. The previous reading was also revised up from 7 to 8.

AUDJPY Technical Analysis
The Aussie Dollar was seen gaining traction against the Japanese Yen, as the AUDJPY pair after declining towards 91.20 support area moved back higher. There is a contracting triangle pattern formed on the hourly chart, which is acting as a catalyst for more upsides. The best part is the fact that the pair is above the 100 hourly simple moving average.

Click the image to open in full size.

If buyers manage to take it above the 200 SMA, and the triangle resistance area, then it might open the doors for a move towards the last swing high of 92.40. The hourly RSI is above the 50 level, suggesting that buyers are in control, and may attempt to take the pair higher in the near term.

On the downside, the triangle support area holds the key for more losses moving ahead.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
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Old Aug 4, 2015, 4:57am   #18
Joined Apr 2015
AUDUSD Rebounds after Dipping Towards 0.7260

titanfx started this thread Key Highlights
• Aussie Dollar looks like found support around 0.7260 and positioning for more gains moving ahead.
• Australian trade balance released by the Australian Bureau of Statistics posted a deficit of -2,933M in June 2015, whereas the market was expecting -3,100M.
• Australian Retail Sales also posted a better than expected reading, as it rose by 0.7% in June 2015, compared with the preceding month.

AUDUSD Technical Analysis
The AUDUSD recently traded higher after the economic releases in Australia. There was a bearish trend line on the hourly chart, which was broken to set the pair for more gains. However, the upside found resistance around a crucial area, as the 100 hourly simple moving average along with the 38.2% Fib retracement level of the last drop from the 0.7365 high to 0.7258 low acted as a resistance.

Click the image to open in full size.

Moving ahead, if the pair corrects lower from here, it might find support around the broken triangle area. On the upside, buyers need to clear the 100 and 200 hourly SMA to clear the way for more gains.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
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Old Aug 5, 2015, 4:41am   #19
Joined Apr 2015
NZDUSD – New Zealand Dollar Trend Overwhelmingly Negative

titanfx started this thread Key Highlights
• New Zealand Dollar was seen struggling against the US Dollar recently, as the latter one gained a lot of traction during the past couple of sessions.
• There was a major release lined up today, as the New Zealand Employment Change released by the Statistics New Zealand posted a reading of 0.3% in Q2, 2015 which was lower than the forecast.
• New Zealand Unemployment Rate remained stable at 5.9% just as the market expected.

NZDUSD Technical Analysis
The New Zealand Dollar after completing a correction around 0.6700 against the US Dollar started to move back lower. There is a monster bearish trend line formed on the hourly chart of the NZDUSD pair, which is acting as a barrier for the pair.

Click the image to open in full size.

The most important point is the fact that the 100 hourly simple moving average is positioned with the highlighted trend line, which increases the significance of the resistance. An initial hurdle on the upside can be around the 38.2% Fib retracement level of the last drop from 0.6651 high to 0.6517 low.

On the downside, a break below the last low of 0.6517 could ignite a downside reaction, taking it towards the 0.6500 handle.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
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Old Aug 12, 2015, 5:20am   #20
Joined Apr 2015
USDJPY Poised For Break Higher

titanfx started this thread Key Highlights
• US Dollar continued to rocket higher against the Japanese Yen, as the USDJPY pair traded to a new weekly high above 125.20.
• Japanese Domestic Corporate Goods Price Index released by the Bank of Japan registered a decline of 0.2% in July 2015 whereas the market was expecting -0.1%.
• In terms of the yearly change, the Japanese Domestic Corporate Goods Price Index declined 3%.
• USDJPY has formed a breakout structure calling for more gains in the near term.

USDJPY Technical Analysis
The US dollar continued to follow a nice bullish trend against the Japanese Yen, as there was a nice uptrend witnessed. The USDJPY pair traded higher and even managed to clear the 125.00 resistance area. There is an ascending channel pattern formed on the hourly chart, which is acting as a catalyst for a move higher. There is a chance of the pair breaking higher in the near term, as the hourly RSI is well positioned above the 50 level.

Click the image to open in full size.

On the downside, an initial support can be seen around the 23.6% fib retracement level of the last wave from the 124.71 low to 125.23 high. Any further losses might call for a test of the channel support area.

Overall, there are many signs for a move higher in USDJPY, compared with losses in the short term.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
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Old Aug 14, 2015, 5:08am   #21
Joined Apr 2015
Euro Could Trade Higher versus Japanese Yen

titanfx started this thread Key Highlights
• Euro traded higher against the Japanese Yen, but it looks like it if finding resistance around 138.80.
• Euro Zone Consumer Price Index will be released by Eurostat today, which is expected to post a decline of 0.6% in July 2015.
• In New Zealand, the Retail Sales report released by the Statistics New Zealand registered an increase of 0.1% in the second quarter, compared with the preceding quarter.

EURJPY Technical Analysis
The Euro traded higher recently and made one more attempt to clear the 138.80 resistance area against the Japanese Yen. However, the EURJPY pair failed once again, and this makes it more than 3 attempts to clear the stated resistance area. There was a bullish trend line formed which was broken earlier, and now acting as a resistance for the pair.

Click the image to open in full size.

Overall, there is a monster resistance formed around 138.80, which poses a risk for a break lower in the near term. The pair needs to settle above 139.00 if it has to trade higher moving ahead. On the downside, an initial support can be seen around 50% fib level of the wave from the 138.07 low.

Euro Zone CPI
Today, the Euro Zone Consumer Price index, which captures the changes in the price of goods and services will be released by Eurostat. The forecast is lined up for a 0.6% decline in July 2015, compared with the preceding month. In terms of the yearly change, it is expected to increase by 0.2%. Any disappointment might cause a downside reaction in the near term in the Euro.

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Old Aug 17, 2015, 3:38pm   #22
Joined Apr 2015
USDCAD – Crucial Break Noted

titanfx started this thread Key Highlights
• US Dollar managed to pop higher against the Canadian Dollar, and also managed to clear a major resistance area.
• US Empire State Manufacturing Survey conducted by the Federal Reserve Bank of New York declined to -14.92, whereas the market was expecting it to come in at 5 in August 2015.
• Canadian investment in foreign securities released by the Statistics Canada came in at $8.57B, more than the last reading of $5.73B (revised).
• Canadian International Securities $8.51B, more than the market expected.

USDCAD Technical Analysis
The US Dollar managed to climb higher against the Canadian Dollar today, and also cleared a crucial barrier on the upside. There was a bearish trend line formed on the hourly chart of the USDCAD pair. Buyers managed to break it, and it looks like the pair managed to settle above it.

Click the image to open in full size.

The most important point is that the pair settled above the 100 and 200 simple moving average, which could ignite more gains in the near term. We need to see how the USDCAD pair reacts, and whether it can capitalize on the recent break or not.

On the upside, buyers might eye a move towards the 1.3200 area where sellers could take a stand. On the downside, the 200 hourly SMA may perhaps act as a support in the near term.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
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Old Aug 24, 2015, 3:43pm   #23
Joined Apr 2015
USDJPY Crash and Recovery

titanfx started this thread Key Highlights
• The Forex market turmoil continued, as the Japanese Yen gained across the board.
• The carnage in global stocks and commodities witnessed throughout the day, as investors were seen nervous.
• A lot of volatility was witnessed in most major pairs like EURUSD, NZDUSD and USDJPY.
• USDJPY crashed to trade as low as 116.10 before recovering sharply by more than 250 pips.
• The Chicago Fed National Activity Index (CFNAI), released by Federal Reserve Bank of Chicago rose from the last revised reading of -0.07 to 0.34 in July 2015.

USDJPY Technical Analysis
The US dollar was crushed today especially against the Japanese Yen. There was more than 400 pips declines in the USDJPY pair, as the pair traded lower close to the 116.00 support area. It is where buyers stepped in to prevent any additional losses.

Click the image to open in full size.

There is a solid rejection pattern forming on the hourly chart of the USDJPY pair. However, the decline in USDJPY speaks volume about the current market condition. There is a bearish trend line on the hourly chart, which could act as a resistance if the pair moves higher from the current levels.

Overall, investors need to cautious as there can be increase in the swing moves in the near term.

Chicago Fed National Activity Index (CFNAI)
Earlier during the NY session, the US saw an economic release as the Chicago Fed National Activity Index (CFNAI), which is a monthly index designed to gauge overall economic activity and related inflationary pressure was reported by Federal Reserve Bank of Chicago. The market not expecting any major rise in the index, but the result was above the forecast as the Chicago Fed National Activity Index (CFNAI) climbed in July 2015 from the last revised reading of -0.07 to 0.34.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
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Old Sep 3, 2015, 5:02am   #24
Joined Apr 2015
AUDJPY – 85.00-40 Is Crucial Juncture for Aussie Dollar

titanfx started this thread Key Highlights
• Aussie Dollar after trading lower towards 83.60 against the Japanese Yen managed to gain buyers, and currently making an attempt to correct higher.
• There is a major resistance area formed around 85.00-40 where sellers might step in.
• Australian Retail Sales released by the Australian Bureau of Statistics decreased by 0.1% in July 2015, compared with the expectation of a 0.4% rise.
• Australian trade balance registered a trade deficit of -2,460M in July 2015, less than the forecast of -3,100M.

AUDJPY Technical Analysis
The Aussie Dollar making a nice attempt to trade higher against the Japanese Yen, but there are many hurdles aligned on the upside for the AUDJPY pair. There are a couple of bearish trend lines formed on the hourly chart, which are waiting to act as a barrier if the pair moves higher from the current levels.

Click the image to open in full size.

Moreover, the 50% Fib retracement level of the last drop from the 86.45 high to 83.62 low is also around the trend line resistance area. There is an ascending channel formed on the hourly chart, which is acting as a catalyst for an upside move.

As long as the pair is trading inside the highlighted channel, there are chances of it trading higher. A break below it could ignite the downside pressure once again.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
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