Try easyMarkets today

Start Trading

Morning Dealing Room Technical Report

August 28, 2015

Market Comment

Australia
The S&P/ASX 200 index jumped 1.17% or 60.549pts to 5233.32 (day range: 5268.8 – 5188.7) on Thursday. The index is below its 20d MA (@ 5402) and below its 50d MA (@ 5510). 28% of the index constituents are above their 20D MA (vs 17% the previous session) and 27% of the shares are above their 50D MA (vs 19%). Trading volume on the index was high, 80.4% above the 3 months average.Australia’s private capital expenditure dropped 4.0% QoQ in 2Q vs -4.7% in 1Q, according to the Australian Bureau of Statistics.

Foreign Exchange
The US dollar was mixed against its major counterparts on Thursday. On the US economic data front, 2Q US GDP increased 3.7% compared to an increase of $2.3% in the previous quarter. Initial jobless claims fell to 271K for the week ending August 22 vs 277K the week before. (274K estimate). Continuing claims were at 2269K for the week ending August 15 compared to a revised 2256K the week before. Pending home sales increased 0.5%MoM in July compared to a revised decline of 1.7% in June.The Euro declined against its major counterparts with the exception of the CHF and JPY. In Europe, euro M3 money supply growth was 5.3% in July YoY from +4.9% the month before. German import prices index fell by 0.7% in July after a 0.5% decline in June. According to Nationwide, UK house prices increased by 0.3% in August after a 0.4% gain in July.

The Australian dollar was stronger against its major pairs.
Last %1D %YTD
EUR/USD 1,1245 -0.61 -7.05
GBP/USD 1,5414 -0.32 -1.05
USD/JPY 120,99 0.88 1.09
EUR/CHF 1,0858 0.51 -9.62
EUR/JPY 136,0600 0.26 -5.96
EUR/GBP 0,7295 -0.30 -6.07
AUD/NZD 1,1086 0.22 5.79
AUD/JPY 86,6620 1.46 -11.35
EUR/AUD 1,5701 -1.15 6.03
USD/CAD 1,3215 -0.58 13.72
USD/CHF 0,9656 1.13 -2.90
AUD/USD 0,7162 0.56 -12.39
NZD/USD 0,6461 0.34 -17.13

Medium Term Strategy: Forex Pair of the day

GBP/USD – pulling back
The pair is facing a pull back but should post a rebound above the strong support at 1.5170 as the daily RSI lacks downward momentum Thus, as long as 1.5170 holds on the downside (horizontal support and overlap), further advance is likely with 1.5935 as a first target (June top) and 1.6190 in extension (61.8% retracement of the July 2014 to April down leg). A third target is set at 1.6525 (last September top). Only a break below 1.5170 would turn the outlook to bearish with a first alternative target set at 1.4850 (horizontal support) and a second one set at 1.4560 (horizontal support and April low).
.

Intraday Technical Strategy

AUD/USD Intraday: rebound.
Pivot 0.7095
Our preference Long positions above 0.7095 with targets @ 0.719 & 0.725 in extension.
Alternative scenario Below 0.7095 look for further downside with 0.7065 & 0.704 as targets.
Comment The RSI is well directed. A bullish inverted Head and Shoulders Pattern has completed.

 

Important note: These technical and research reports are provided to easy-forex® as a subscriber of third party providers. They are provided for informative purposes only and in no way can they be considered as a recommendation by easy-forex® to you to engage in any trade. Hence, easy-forex® shall not be held responsible for any outcome of trading decisions, in regards with these reports or similar reports. You hereby acknowledge that using the information entailed in these reports is at your sole responsibility and you will have no claims with regards to these reports against easy-forex®. If you do not agree to this, you are strongly advised not to use these reports

 

Easy Forex Pty Ltd (AFSL 246566 ABN 73107184510) makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites and the information contained does not take into account your personal objectives, financial situation and needs. Easy-Forex recommends that you read the Regulation Page, The Product Disclosure Statement, the Terms and Conditions and the Financial Services Guide before making any decision concerning Easy-Forex’s products.

 

 
Back to daily Archive

What our Traders say about us

Offering our clients an exceptional customer experience since 2003

  • 14 February
    Great Customer Service
    Great customer service. I wasn't too sure what docs to upload. Entered the chat...
    Jason
    20 March
    This is so easy to use and the service…
    This is so easy to use and the service calls i got and the help was great
    Stephen Brennan
    12 March
    Good service
    The trading cost is a bit high, but the service is great.
    Yan
  • 1 March
    Easymarkets trading site is well laid…
    Easymarkets trading site is well laid out and very easy to use. I have tried oth...
    Ben Slyns
    28 February
    Very good customer service
    Very good customer service. Any issues I have had have been promtly addressed an...
    Phillip McDowall
    22 February
    My review
    Been with this company for a short time and have already had a great experience...
    Rheannen Killick
  • 21 February
    Top notch
    Easy to use, great customer service and quick response to any queries via email/...
    Vanessa Matovic
    9 February
    Setting up an MT4 Platform
    I was having trouble setting up the MT4 platform on my iPad . I rang the support...
    Janice Myers
    5 December
    Customer service is fantastic
    Customer service is fantastic. Reminds me of the old days when the client matter...
    Jacqueline

    • Best APAC Region Broker 2018

    ADVFN International Financial Awards

    easyMarkets is honored to be the recipient of the panel judged ADVFN Best APAC Broker award

    Australian Regulated

    AFSL 246566

    easyMarkets Pty Ltd (AFSL 246566 ABN 73107184510) makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites and the information contained does not take into account your personal objectives, financial situation and needs. We recommend that you read the Regulation Page, The Product Disclosure Statement, the Client Agreement and the Financial Services Guide before making any decision concerning easyMarkets products.

    2024 © easyMarkets Pty Ltd (formerly known as easy forex Pty Ltd) ABN 73 107 184 510 and is regulated by the Australian Securities and Investments Commission (ASIC).
    Australian Financial Service (AFS) Licence No. 246566.

    Target Market Determination – OTC Options
    Target Market Determination – Forward Contracts
    Target Market Determination – CFDs
    Target Market Determination – easyTrade

    easyMarkets Pty Ltd is part of the Blue Capital Markets Group (Blue Capital Markets Ltd is not regulated by ASIC).

    join THOUSANDS OF other people
    who trade with easymarkets

    Two minutes is all it takes.

    You're almost there!

    Finish your application and start trading today.

    DON'T MISS A TRADING OPPORTUNITY

    Two minutes is all it takes.

    Login
    Call 1300 303 08