Insights for the Asian Forex trading session Friday 30/11/2018 - FXStreet

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Insights for the Asian Forex trading session Friday 30/11/2018


*** AUD/USD: Australian dollar is under pressure at 0.72990 support

*** GBP/USD: British Pound retreats  to 1.27685 support 

*** EUR/USD: Euro consolidates above its 500 EMA at 1.13945 and 1.13600

*** USD/JPY: US dollar defended its position at its 500 EMA and pushed prices up to 113.430

*** USD/CAD: US dollar consolidates at 1.32195 and 1.32505

** Japan Retail Sales YoY (Oct) - (Up 3.5% vs 2.7% forecast)

*** Germany Unemployment Change (Nov)  (Up -16K vs -10K forecast)

** Germany Unemployment Rate - (5.0% vs 5.1% forecast)

** U.S. Initial Jobless Claims - (Up to 234K vs 221K forecast)

*** U.S. Pending Home Sales MoM (Oct) - (Down -2.6% vs 0.8% forecast)


Fridays critical macro summary


** Australia Private Sector Credit MoM (Oct) - 11.30 hrs 

*** China Manufacturing Purchasing Managers Index (PMI) (Nov) - 12.00 hrs 

** China Non-Manufacturing Purchasing Managers Index (PMI) (Nov)  - 12.00 hrs

** Eurozone Core Consumer Price Index (CPI) YoY - 21.00 hrs

*** Eurozone Consumer Price Index (CPI) YoY (Nov) - 21.00 hrs

** Canada Gross Domestic Product (GDP) YoY - 00.30 hrs

** Canada Gross Domestic Product (GDP) QoQ - 00.30 hrs

*** Canada Gross Domestic Product (GDP) MoM (Sep) - 00.30 hrs


 The FX Majors Current positions and its future forecast


What is going on now with AUD/USD?

AUD/USD: The Australian dollar pulled back and bounced at 0.72990 as indicated in yesterday's session and took out two price targets at 0.73235 and 0.73345 before pulling back to 0.72990 in this mornings session.

Our forecast

AUD/USD: The Australian dollar currently trades at 0.73064 just above 0.72990 support in the 60 minutes time frame and needs to remain above 0.72990 to head back up. The Australian dollar is under pressure and could fall to  0.72835 if it fails at 0.72990

Support/short target - 0.72990, 0.72835,0.72650, and 0.72510

Resistance/Long Target- 0.73135, 0.73235, and 0.73345

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the AUD/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the AUD/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

What is going on now with GBP/USD?
 
GBP/USD: The British Pound pulled back to 1.27685 during the European session after its short sprint to 1.28480 in yesterdays session. The pair found support at 1.27685 in the 60 minutes time frame in this mornings session and waits for an opportunity to head back up to 1.28065.

Our forecast

GBP/USD: The Pound currently trades at 1.27684 and needs to remain above 1.27685 to head back to 1.28065. The pair could to its previous support at 1.27245 if it fails at 1.27685 support

Support/ Short-1.27685, 1.27245, 1.26965

Resistance/ Long - 1.28065, 1.28480, and 1.28845

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the GBP/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the GBP/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

What is going on now with EUR/USD?
 
EUR/USD: The Euro retreated in yesterdays session below 1.13600 as in indicated in yesterdays update and provided a re-entry opportunity for long positions. The pair managed to take out two estimated long targets at 1.13820 and 1.13945 in yesterdays session.

Our forecast

EUR/USD: The Euro currently consolidates in a wide price range at 1.13945 and 1.13600 in the 60 minutes price chart. I expect to see this pattern to continue until it breaks out in the near future. The Euro currently trades at 1.13934 and could continue to 1.14160 if it breaks and remains above 1.13945. The Euro could also pull back to 1.13820 and 1.13420 if it fails to continue at 1.13945.

Support/short - 1.13820, 1.13600, 1.13420, and 1.13275

Resistance/Long -1.13945, 1.14160, 1.14280, and 1.14465

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the EUR/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the EUR/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

What is going on now with USD/JPY?

USD/JPY: The US dollar attempted to head back up but failed at 113.710 and headed straight to its 500 EMA at 113.195 in yesterdays session. The US dollar defended its position at its 500 EMA during the European session and continued to push its prices up in this mornings session

Our forecast

USD/JPY: The US dollar currently trades at 113.449 and needs to remain above 113.430 to continue to 113.525 and 113.560. The pair could pull back to its 500 EMA at 113.195 if it fails at 113.430 support

Support/short target - 113.310, 113.195, 113.080, and 112.900

Resistance/Long Target- 113.525, 113.560, 113.710, and 113.840

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the USD/JPY price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the USD/JPY price action in the four hours price chart highlights the direction of the trend and the support and resistance price points


What is going on now with USD/CAD?

USD/CAD: The US dollar held on above 1.32505 support in yesterdays session and had a few runs to the upside reaching 1.13323 highs. The pair currently consolidates in a wide price range from 1.32195 resistance to 1.32505 support and could break out either way.

Our forecast

USD/CAD: The US dollar currently trades at 1.32769 and needs to remain above 1.32710 to continue to 1.32195. The pair could fall to 1.32505 if it fails at 1.32710 support.

Support/Short Target -1.32635,1.32340, and 1.32025

Resistance/Long Target -1.32875, 1.33165, and 1.33485

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the USD/CAD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the USD/CAD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points



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