Daily Technical Analysis on 28th September 2016
Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY, XAUUSD.
The pair traded neutral on last day as the market sentiment gained after the Presidential debates in the US. The dollar is yet regaining following the Fed decision of no changes in the rate. The price smashed the resistance levels at 1.1250 and moves upward in the European session on yesterday. Still, the upside momentum shortly faded and the quotes recover into the usual range under the level of 1.1250. Sellers forced the value lower towards 1.1200 levels at the beginning of the US session.
The pair is surrounding the moving averages in the 4HR chart. The 50, 100 and 200 EMAs are currently in a moderate bullish tone. The resistance comes at 1.1250; the support comes at 1.1200 levels. MACD indicator is in negative zone decreased. Indicator RSI is drifting away from the overbought zone.
The pound is below in the pressure due to oil prices reduced. The buying favor was short-lived and faded some pips over 1.3200 levels. The price sharply cut down from the session high, comes back under the level and stays in a flat position between 1.3200 and 1.2940 throughout the day.
The pair is well under the moving averages. The 50, 100 and 200 EMAs handled their decrease. The current resistance finds in 1.3000, the support remains in 1.2900 levels. MACD is in the negative zone stands at the same level which confirms the power of sellers. RSI indicator is in the neutral region but the oscillator is moving downwards.
The yen strengthened following the Haruhiko Kuroda’s statement. According to Kurodа the controller was ready to use each available tool to attain its 2 percent inflation. The Central Bank is also ready to implement further stimulus measures if required. After testing the 100.00 levels of support zone the value rebound and slightly regain. The upside momentum faded at 101.00 levels where the value turned around. The pair sharply chops down and wipe out all its earlier gains.
The USDJPY seems to be making another try to crack the level 100.40. The 4HR chart shows that the value met a selling force over the 50-EMA. All moving averages keep moving lower in the in the 4HR chart. The resistance level finds at 101.40, the support stays in 100.40 levels. MACD stands at the same level which confirms the seller’s strength. Indicator RSI is consolidating within the negative zone. Our short- term outlook is a consolidation over the 100.00 level was support area. We consider other try to smash the 100.00 level mark.
The yellow metal traded lower on previous day as markets decided that Hillary Clinton won the 1st presidential debate in US on day before yesterday. The early pair was recovery stalled and the quotes got below the selling pressure on yesterday. The metal values fell to the level of 1330 where the downside movement faded down. The pair remains under the pressure at the beginning of the US session.
The pair seems to be recovering with the 50-EMAs to go further. The 50, 100 and 200 EMAs are moderately bullish in the 4HR chart. The resistance comes in 1340 levels; the support exists in 1330 levels. RSI indicator is within the neutral region. A smash under the 1330 levels would unlock the path to 1320 levels.