FX Explained in The Forex Zone


Today is the first edition of a regular feature, FX Explained in The Forex Zone, where we will take a video run through of the Major FX currency pairs; EURUSD, GBPUSD, USDJPY, AUDUSD, NZDUSD and USDCAD.

EURUSD holding onto a positive tone

A further setback Thursday for a more convincing push below 1.1289/88 supports and 1.1281, but whilst holding above 1.1250/43 we hold onto bull forces from the June surge and last Friday’s push above key 1.1324 resistance, to keep risks higher Friday.

For Today:

  • We see an upside bias for 1.1304; break here aims for 1.1348, maybe towards 1.1390.
  • But below 1.1250/43 opens risk down to 1.1200.
eurusd chart

GBPUSD risk still lower

A Wednesday-Thursday setback from just below 1.2763, to further ease upside pressures from last Friday’s probe above the 1.2751 resistance, to keep risks lower for Friday.

For Today:     

  • We see a downside bias for 1.2652/40; break here aims for 1.2608.
  • But above 1.2763opens risk up to key 1.2814, maybe 1.2853.
gbpusd chart

USDJPY downside bias

A negative consolidation Thursday after Wednesday’s push lower to probe 108.32 support and reject this week’s rebound capped by solid 108.93 impulse resistance, sustaining the negative tone from the late May/ early June plunge through notable support at 108.47 (from late January 2019), keeping the bias lower into Friday.

For Today:

  • We see a downside bias for 108.13 and 107.79/74; break here aims for 107.10.
  • But above 108.80/93 opens risk up towards 109.59.
usdjpy chart

AUDUSD support surrender and bear threat to key .6862

A Wednesday-Thursday selloff through the uptrend line from May and .6923 support for a negative short-term signal, and a plunge this morning below the important .6898/97 support area, to set risks lower into Friday.

For Today:     

  • We see a downside bias for key .6863/63, maybe towards .6829.
  • But above .6919 aims for .6938 and possibly opens risk up to .6973.
audusd chart

NZDUSD intermediate-term shift to a range with bias lower

A Wednesday-Thursday probe through our key .6573/65 zone and a plunge into Friday to then hold exactly at .6523 and the trend line from May, but to set risks lower Friday

For Today:

  • We see a downside bias for .6523, maybe towards critical .6495/93.
  • But above .6562 opens risk up to .6593.
nzdusd chart

USDCAD negative bias

A Wednesday-Thursday rebound, but whilst capped at the resistance barrier at 1.3366 we hold onto a negative bias from last Friday’s plunge through the key 1.3270 level, plus from the entire early June selloff, to just keep the risks lower for Friday.

For Today:

  • We see a downside bias for 1.3267; break here aims for 1.3222 and 1.3206.
  • But above 1.3366 opens risk up to 1.3430/49.
usdcad chart

Comment on this video

Your email address will not be published. Required fields are marked *

Latest News

S&P 500
Stocks firm after the Fed Meeting (S&P500)

The Fed cut rates as many forecasters had expected on Wednesday 18th September by 0.25%. However, they also signalled that they are now likely on hold, with another rate cut probably unlikely in 2019. Global equity averages initially turned lower, but then US markets staged strong rebounds into the close on Wednesday, though have drifted … Continued

S&P 500
S&P500, German DAX and USDNOK Intra-day Updates

E-mini SP500 futures are slightly turning down at the start of the US sessions, but may not be nothing exciting ahead of the FOMC decisions when real bears may show up if our technical view is correct. German Dax can be in similar path. S&P500, 1h German DAX, 1h USDNOK remains trapped in consolidation; looking … Continued

USDJPY stays strong into the Fed Meeting

USDJPY keeps plugging higher, despite the modest shift back towards a risk off environment this week in the wake of the weekend attacks in the Middle East and the surge (and subsequent setback) in the oil price. However, this has NOT seen the Japanese Yen as the main, go to safe haven, with the US … Continued

EURUSD Monthly Chart 2019-09-17
EURUSD and USDCAD spot recap – 2019-09-17

EURUSD holding 1.0985/80 allows a recovery to 1.1020 & strong resistance at 1.1040/50. Try shorts with stops above 1.1065. Next target & strong resistance at 1.1090/99, shorts need stops above 1.1115. A break higher is an important buy signal targeting 1.1130/35 & 1.1165/70 with strong resistance at 1.1180/90. A break below 1.0980 targets 1.0970/60 & … Continued

Forex Brokers in your location