LeTechs Forex Blog - Forex Technical Analysis on 30 August 2016

30 Aug

Forex Technical Analysis on 30 August 2016

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Daily Technical Analysis on 30 August 2016

Today’s Technical Pairs: EURUSD, AUDUSD, USDJPY, and XAUUSD.

EURUSD

The dollar was steady on opening week on the rear of J.Yellen's statement plus earlier comments by FOMC’s officials which build up anticipations of a potential rate hike by the Fed at the next meeting.

The pair sustained to reduce on yesterday and found a good support in the 1.1170 region. The indicators MACD & RSI resumed reduces within negative zone. MACD signs the sellers’ strength. RSI started to move the oversold territory. The value smashed downsides of the 50, 100 and 200 EMAs in the 4HR chart. The moving averages are twisting downside movements and provide a sell signal. All views are currently at the support level of 1.1130. If the value crack this support, the indexes might fall additional that should drop this market place looking for the level of 1.1070.

AUDUSD

AUD drop down due to Fed officials’ comments regarding strengthen of the monetary policy in the shortest future. The pair reached 4-week lows on yesterday, still, the pair handled to recover few of its lost floors. The resistance seems at 0.7600 levels, the support appears in 0.7540 levels.

The indexes MACD reduced which certifies the strength of sellers. RSI indicators constant to consolidating within oversold region. The 4HR chart shows that the value is under the 50, 100 and 200 Day EMAs. The 200-EMA remains neutral, the 50 is intersecting the 100 EMA downsides and both lines are driving down. We consider the pair will stay under pressure. The weakness is predicted to extend additional drop to 0.7470 levels right now.

USDJPY

The dollar grew to the two-week high on the rear of the renewed achievement that the Fed might raise the rates next meeting. On Monday, Japanese stocks also promoted the dollar as well. The pair gapped superior and extended its gains. The pair found a strong resistance levels at 102.50 which did not let the value additionally upwards momentum. The resistance lies at 102.50 levels, the support stays in 101.40 levels.

The indicators MACD is in the positive region. The histogram grew which signs the buyers’ strength. RSI indicator remains in the overbought zone. Both indicators provide a buy signal. The pair broke the 200-EMA and advanced away from it in the 4HR chart. The moving averages of 50, 100 and 200 are driving upside directions. The USDJPY overall scenario stands bullish, for a gain towards resistance levels of 102.50.

XAUUSD

The Gold prices steadied throughout the European trading session, following the declining sharply on last weekend. Heightened Fed rate hike chances, along with dollar strength have kept force on the contract, which ranged among 1318.0, and 1324.95 regions. The yellow metal gapped downsides and set fresh lows on yesterday. Currently the pair traded in red figures & remained nearly the level of 1316. The gauge partly recovered in the US session. The resistance remains at 1330 levels; the support seems in 1316 levels.

MACD indicator remained in the negative zone. MACD grew which signs the sellers’ spot weakening. RSI rebound from the oversold region. The 50-EMA is intersecting downside directions the 100 & 200 EMAs in the 4HR chart. The moving averages are driving downsides which sings a sell signal. The Gold overall scenario stands bearish, for reduce towards the support level of 1316.

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