Forex Technical Analysis: EUR/USD

Daily Forex Analysis EUR/USD by SGT Markets September 26, 2016

 

Weekly Trend: Bullish

1st Resistance: 1.1303

2nd Resistance: 1.1340

3rd Resistance: 1.1385

1st Support: 1.1205

2nd Support: 1.1115

3rd Support: 1.1027

 

 

EUR

 

Recent Facts:

 

22nd of July 2016, German Manufacturing PMI (key indicator of the activity level of purchasing managers in the manufacturing sector as surveyed in Germany)

Better than Expected. Setting a new high from May 2014

 

28th of July, German Unemployment Change

Better than Expected.

 

29th of July, European CPI (key preliminary inflation data in Europe)

Higher than Expected. Setting a new high since last February

 

18th of August, European CPI confirmed at 0.2% as Expected and as per previous month

 

23rd of August, German Manufacturing Purchasing Managers’ Index (PMI) and Markit Composite PMI: they measure the activity level of purchasing managers in the manufacturing sector in Europe

Contrasted: Markit Eurozone PMI inched up to a seven-month high, while Manufacturing PMI and German Services PMI slow down in August

 

31st of August, European CPI (key preliminary inflation data in Europe)

Slightly lower than Expected

 

1st of September, Eurozone Manufacturing PMI

Slightly worse than Expected

 

8th of September, European Central Bank’s President (Mario Draghi) left all interest rates unchanged

 

23rd of September, German Manufacturing PMI (key indicator of the activity level of purchasing managers in the manufacturing sector as surveyed in Germany) + German Services PMI

German Manufacturing PMI Better than Expected, German Services PMI Worse than Expected (new historical low from July 2013)

 

 

USD

 

Recent Facts:

 

12th of August, U.S. Retail Sales (essential for a better understanding of the Fed’s future interest rates policies)

Worse than Expected

 

16th of August, Building Permits

Worse than Expected

 

17th of August, FOMC Meeting Minutes (U.S.A.)

Economists see the December meeting as the most likely time for a rate increase since it follows the U.S. presidential election

 

23rd of August, U.S. New Home Sales: it measures the annualized number of new single-family homes that were sold during the previous month

Better than Expected. Setting a new high since December 2007

 

25th of August, U.S. Core Durable Goods Orders MoM (measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items)

Better than Expected

 

26th of August, U.S. Yellen’s (Fed Chair) Speech

Fed’s Yellen says case for another interest-rate hike has strengthened but eyes on the next data from U.S.

 

31st of August, ADP Nonfarm Employment Change and Pending Home Sales

Both better than Expected

 

2nd of September, Nonfarm Payrolls

Worse than Expected

 

6th of September, U.S. ISM non-manufacturing PMI

Worse than Expected: down to 51.4 in August, lowest in 6 years

 

15th of September, Retail Sales + Philadelphia Fed Manufacturing Index

Retail Sales Worse than Expected, Philadelphia Fed Manufacturing Better than Expected

 

16th of September, Core Consumer Price Index (CPI)

Higher than Expected

 

21st of September, FOMC Economic Projections, Fed Interest Rate Decision

The U.S. Federal Reserve left interest rates unchanged but strongly signaled it could still tighten monetary policy by the end of this year as the labor market improved further

 

 

 

Forex Technical Analysis: GBP/USD

Daily Forex Analysis GBP/USD by SGT Markets September 26, 2016

Weekly Trend: Neutral

1st Resistance: 1.3080

2nd Resistance: 1.3220

1st Support: 1.2885

2nd Support: 1.2680

 

 

GBP

 

Recent Facts:

 

22nd of July 2016, UK Services PMI (key indicator of the activity level of purchasing managers in the services sector)

Worse than Expected. Setting a new historical low, the lowest value of the last 7 years

 

27th of July 2016, Gross Domestic Product (preliminary)

Better than Expected

 

4th of August, Bank of England Interest Rates decision (expected a cut)

Bank of England lowers Interest Rates as Expected (record low of 0.25%) and increases purchase program

 

9th of August, Manufacturing Production (measures the change in the total inflation-adjusted value of output produced by manufacturers)

Slightly Worse than Expected

 

9th of August, Trade Balance

Worse than Expected. Setting a new historical low

 

16th of August, UK Consumer Price Index (measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation)

Higher than Expected. Setting a new high since January 2015

 

18th of August, UK Retail Sales

Better than Expected. Core Retail Sales YoY at the highest since November 2015

 

1st of September, UK Manufacturing PMI (key indicator of the activity level of purchasing managers in the services sector)

Better than Expected. Setting a new historical high since December 2015

 

5th of September, UK Services PMI

Better than Expected

 

 

USD

 

Recent Facts:

 

12th of August, U.S. Retail Sales (essential for a better understanding of the Fed’s future interest rates policies)

Worse than Expected

 

16th of August, Building Permits

Worse than Expected

 

17th of August, FOMC Meeting Minutes (U.S.A.)

Economists see the December meeting as the most likely time for a rate increase since it follows the U.S. presidential election

 

23rd of August, U.S. New Home Sales: it measures the annualized number of new single-family homes that were sold during the previous month

Better than Expected. Setting a new high since December 2007

 

25th of August, U.S. Core Durable Goods Orders MoM (measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items)

Better than Expected

 

26th of August, U.S. Yellen’s (Fed Chair) Speech

Fed’s Yellen says case for another interest-rate hike has strengthened but eyes on the next data from U.S.

 

31st of August, ADP Nonfarm Employment Change and Pending Home Sales

Both better than Expected

 

2nd of September, Nonfarm Payrolls

Worse than Expected

 

6th of September, U.S. ISM non-manufacturing PMI

Worse than Expected: down to 51.4 in August, lowest in 6 years

 

15th of September, Retail Sales + Philadelphia Fed Manufacturing Index

Retail Sales Worse than Expected, Philadelphia Fed Manufacturing Better than Expected

 

16th of September, Core Consumer Price Index (CPI)

Higher than Expected

 

21st of September, FOMC Economic Projections, Fed Interest Rate Decision

The U.S. Federal Reserve left interest rates unchanged but strongly signaled it could still tighten monetary policy by the end of this year as the labor market improved further

 

 

 

Forex Technical Analysis: AUD/USD

Daily Forex Analysis AUD/USD by SGT Markets September 26, 2016

Weekly Trend: Neutral

1st Resistance: 0.7660

2nd Resistance: 0.7735

3rd Resistance: 0.7828

1st Support: 0.7525

2nd Support: 0.7420

 

 

AUD

 

Recent Facts:

 

19th of July 2016, Reserve Bank of Australia Meeting

Possible further easing in the next month to counteract the negative shock from the Brexit vote

 

26th of July, CPI (key inflation data in Australia) pared

 

2nd of August, Interest Rates decision cut to from 1.75% to 1.50% as Expected

 

4th of August, Retail Sales (Jun)

Worse than Expected

 

11th of August, Reserve Bank of New Zealand’s rate statement

Interest rates cut (to 2%) as Expected

 

18th of August, Employment Change

Better than Expected. Highest since the beginning of this year

 

24th of August, New Zealand Trade Balance and Australia’s Construction Work Done (it measures the change in the total value of completed construction projects)

Worse than Expected

 

1st of September, Retail Sales and Private New Capital Expenditure

Worse than Expected

 

7th of September, Australia Gross Domestic Product

As Expected

 

15th of September, Employment Change

Worse than Expected

 

20th of September, Reserve Bank of Australia Meeting

Neutral stance

 

 

USD

 

Recent Facts:

 

12th of August, U.S. Retail Sales (essential for a better understanding of the Fed’s future interest rates policies)

Worse than Expected

 

16th of August, Building Permits

Worse than Expected

 

17th of August, FOMC Meeting Minutes (U.S.A.)

Economists see the December meeting as the most likely time for a rate increase since it follows the U.S. presidential election

 

23rd of August, U.S. New Home Sales: it measures the annualized number of new single-family homes that were sold during the previous month

Better than Expected. Setting a new high since December 2007

 

25th of August, U.S. Core Durable Goods Orders MoM (measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items)

Better than Expected

 

26th of August, U.S. Yellen’s (Fed Chair) Speech

Fed’s Yellen says case for another interest-rate hike has strengthened but eyes on the next data from U.S.

 

31st of August, ADP Nonfarm Employment Change and Pending Home Sales

Both better than Expected

 

2nd of September, Nonfarm Payrolls

Worse than Expected

 

6th of September, U.S. ISM non-manufacturing PMI

Worse than Expected: down to 51.4 in August, lowest in 6 years

 

15th of September, Retail Sales + Philadelphia Fed Manufacturing Index

Retail Sales Worse than Expected, Philadelphia Fed Manufacturing Better than Expected

 

16th of September, Core Consumer Price Index (CPI)

Higher than Expected

 

21st of September, FOMC Economic Projections, Fed Interest Rate Decision

The U.S. Federal Reserve left interest rates unchanged but strongly signaled it could still tighten monetary policy by the end of this year as the labor market improved further