22 Sept: Forecast: FX: US$/Majors

By | September 22, 2017

 

EURUSD: 1.1940
Preferred Strategy: The dallies remain negative so selling into strength is preferred. Sell EurUsd @ 1.1985. SL @ 1.2105. TP @1.1600
24 Hour: Mildly Bullish. Medium Term: Prefer to sell rallies
Resistance Support
1.2055 Minor 1.1915 Minor
1.2033 20 Sept high 1.1885 Minor
1.2000 Minor 1.1860 (23.6% of 1.1118/1.2091)/20 Sept low
1.1980 Minor 1.1838 14 Sept low
1.1950/55 Session high/100 HMA/200 HMA 1.1800 Minor

Economic data highlights will include:

EU Flash PMIs, Mario Draghi Speech, US Flash PMIs



USDJPY: 112.48
Preferred Strategy: Although the short term charts look toppish, the dailies still look positive so buying dips is preferred. Buy US$Jpy @ 111.70. SL @ 110.90. TP @ 113.15.
24 Hour: Neutral Medium Term: Mildly Bullish
Resistance Support
113.50 Minor 112.20 200 DMA
113.15 Minor 112.12 Session low
113.00 Minor 111.85 Descending trend resistance
112.78 (76.4% of 114.49/107.32) 111.60 Daily cloud top /Rising trend support


GBPUSD: 1.3577
Preferred Strategy: I still like Sterling for a move higher but much will depend today on May’s speech so leave room for a dip. Buy GbpUsd @ 1.3515. SL @1.3440. TP @ 1.3750
24 Hour: Prefer to buy dips Medium Term: Mildly Bullish
Resistance Support
1.3795 (76.4% of 1.5017/1.1821) 1.3525 Minor
1.3700 Minor 1.3480 Minor
1.3656 20 Sept high 1.3451 20 Sept low
1.3610 18 Sept high 1.3445 (23.6% of 1.2777/1.3656)
1.3586 Session high 1.3400 (23.6% of 1.2588/1.3656)

Economic data highlights will include:

UK PM Theresa May speech, CBI Industrial Trends Survey



USDCHF: 0.9706
Preferred Strategy: Neutral
24 Hour: Neutral Medium Term: Neutral
Resistance Support
0.9837 (61.8% of 1.0099/0.9420) 0.9685 Session low
0.9808 30 May high 0.9670 (23.6% of 0.9420/0.9746)
0.9772 8 Aug high/(38.2% of 1.0343/0.9420) 0.9650 Minor
0.9746 Session high 0.9622 (38.2% of 0.9420/0.9746)
0.9725 Minor 0.9587 20 Sept low


AUDUSD: 0.7931
Preferred Strategy: The AudUsd looks to have had its day in the sun and a test of 0.7900, and lower, would not surprise. Sell Audusd @ 0.7950. SL @ 0.8010. TP @ 0.7865
24 Hour: Mildly Bearish Medium Term: Mildly Bearish
Resistance Support
0.8055 Minor 0.7916 Session low
0.8035 Session high 0.7900 Minor
0.8000 200 HMA 0.7876 Daily cloud top
0.7985 Minor 0.7866 24 Aug low
0.7965 Minor 0.7850 Minor


NZDUSD: 0.7307
Preferred Strategy: Until the election result is known, stay square
24 Hour: Neutral Medium Term: Neutral
Resistance Support
0.7433 20 Sept high 0.7297 Session low
0.7400 Minor 0.7280 200 HMA
0.7363 Session high 0.7250 Minor
0.7345 Minor 0.7215 Minor
0.7325 Minor 0.7200 Minor

Economic data highlights will include:

NZ Election – Saturday