Morning Dealing Room Technical Report

October 26, 2015

Market Comment

Australia

The S&P/ASX 200 index jumped 1.67% or 87.721pts to 5351.57 (day range: 5374.5 – 5263.8) on Friday. The index is above its 20d MA (@ 5186) and above its 50d MA (@ 5158). 84% of the index constituents are above their 20D MA (vs 67% the previous session) and 82% of the shares are above their 50D MA (vs 69%).

Foreign Exchange

The US dollar was higher against its major counterparts except for the AUD on Friday. On the economic data front, Markit US Manufacturing PMI increased to 54 in October from 53.1 in September, economists were expecting a level of 52.7.

The Euro was under pressure against all its major pairs. In Europe, euro zone PMI composite index for October climbed to 54 in first estimation from 53.6 a month earlier. It was expected to be 53.4.

The Australian dollar pushed higher against all its major pairs.

Last %1D %YTD
EUR/USD 1,1010 -0.89 -8.99
GBP/USD 1,5309 -0.55 -1.72
USD/JPY 121,40 0.58 1.43
EUR/CHF 1,0784 -0.24 -10.23
EUR/JPY 133,6500 -0.30 -7.61
EUR/GBP 0,7192 -0.35 -7.40
AUD/NZD 1,0683 0.69 1.94
AUD/JPY 87,6050 0.71 -10.39
EUR/AUD 1,5256 -1.01 3.02
USD/CAD 1,3181 0.70 13.42
USD/CHF 0,9795 0.66 -1.49
AUD/USD 0,7217 0.12 -11.72
NZD/USD 0,6755 -0.56 -13.36

Medium Term Strategy: Forex Pair of the day

USD/JPY – under pressure

The pair has broken below the lower boundary of the triangle pattern and is shaping a triangle pattern despite the current rebound. Then, further weakness is likely with 116 as a first target (December bottom) and 113.40 in extension (horizontal support). A third target is set at 110 (strong horizontal support and overlap). Only a rebound above 122 (strong horizontal resistance) would call for a bullish trend reversal with 126 as a first alternative target (June top) and 127.70 in extension.

 

Intraday Technical Strategy

AUD/USD Intraday: consolidation.

Pivot 0.7260
Our preference Short positions below 0.726 with targets @ 0.7195 & 0.716 in extension.
Alternative scenario Above 0.726 look for further upside with 0.7305 & 0.7345 as targets.
Comment The RSI broke below a rising trend line

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

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.