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Forex Update USD/GBP/AUD/NZD/JPY/CNYHello everyone, as we all know the market action discounts everything. _________________________________Make sure to Like and Follow if you like the idea_________________________________ The dollar rose in Asia on Tuesday morning as fears about the omicron COVID-19 version began to fade. The US Dollar Index, which compares the dollar against a bundle of other currencies, fell 0.9% to 96.245. The GBP/USD exchange rate rose 0.15 % to 1.3284. Support & Resistance points : support Resistance 1) 1.3249 1) 1.3271 2) 1.3237 2) 1.3281 3) 1.3227 3) 1.3293 the AUD/USD pair went up 0.37 % to 0.7075 after the Reserve Bank of Australia maintained its interest rate at 0.10 percent earlier in the day. Support & Resistance points : support Resistance 1) 0.7086 1) 0.7102 2) 0.7076 2) 0.7108 3) 0.7070 3) 0.7118 The NZD/USD exchange rate rose 0.19 % to 0.6763. Support & Resistance points : support Resistance 1) 0.6761 1) 0.6772 2) 0.6755 2) 0.6775 3) 0.6751 3) 0.6782 The USD/JPY exchange rate rose 0.19 % to 113.68. Support & Resistance points : support Resistance 1) 113.62 1) 113.72 2) 113.58 2) 113.78 3) 113.53 3) 113.81 The USD/CNY pair fell 0.07 % to 6.3712. Chinese data released earlier in the day indicated that exports increased by 22% year on year in November, while imports increased by 31.7 % year on year. The trade deficit was $71.72 billion. Support & Resistance points : support Resistance 1) 6.3644 1) 6.3676 2) 6.3633 2) 6.3697 3) 6.3612 3) 6.3708 The Reserve Bank of Australia left rates at a record low but said Omicron was not expected to derail the economy's recovery. "Although there is still a lot of uncertainty over Omicron's health and economic impact, investors have embraced news from South Africa suggesting the exponential rise in Omicron infections has not been followed by a big wave in hospitalizations," NAB strategist Rodrigo Catril told Reuters. Early investigations in South Africa indicate that those infected experience comparatively minimal symptoms as compared to earlier viral waves. Anthony Fauci, the top infectious disease authority in the United States, also stated that it did not appear to be very serious. Meanwhile, pressure on the euro has continued as bets on US interest rates rising far ahead of those in Europe have firmed. The common currency recovered from Monday's losses to trade at $1.1291 on Tuesday. Fed funds futures have priced in more than two full rate rises in the United States next year, beginning in May. Treasury rates climbed slightly on Monday, extending the day's gains over the yield curve. Aside from Omicron, central banks are being scrutinized. The Bank of Canada meets on Wednesday, and markets anticipate that it will set the stage for rate hikes next year. The Federal Reserve, the Bank of England, the European Central Bank, and the Bank of Japan will all meet next week. This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
by GabiDahduh
2
USDJPY, DONOT MISS THE RALLY, ALERT SIGNALS!!Plan A (LONG): If it respects the formed channel and does not give a breakout, and formed bullish candlesticks pattern at HL near the bottom line of Channel then; Buy at Buying zone after formation of Bullish Candles near 112.300 which is at around 23.6% Fib level TP 1: 114.133 (Major Resistance) TP 2: 115.314 (Previous HH) SL: Whenever it breaks the formed channel Plan B (SHORT): if it gives a breakout of Rising Wedge then; Buy: 110.750 TP 1: 109.341 (Major support zone near 50% Fib) TP 2: 107.525 (Another support at around 61.8% of Fib level) SL: If it again enter into the rising wedge chart hit Close Bullish Indications: Series of Higher Highs & Higher Lows Trading in a bullish channel Bullish trendline After making a HL at the bottom line of channel, it will probably move upward to make HH Bearish Indications: Formation of Rising Wedge Chart pattern If it gives a breakout of Rising wedge pattern then it will probably go down to 109.341 which is at around 50% Fib followed by 107.525 which is at around 61.8% Fib for TP 2 of Plan B IF YOU LIKED THE IDEA, SHOW YOUR SUPPORT ;) AND IF YOU DONT THEN LETS DISCUSS ;) WE NEED YOUR SUPPORT TO KEEP THIS GOING ;)
by FreeTradeAnalysis
2