Desktop, tablet & mobile - Forex trading platform

Australian Financial Services (AFS) Licence 246566

easyMarkets Daily Outlook

Daily Outlook
Currency Trading Summary 29-Jul-2016

Written by Andreas Tjahja

AUD/USD settled in a tight range just above 0.7500 as the market settled down post CPI and FOMC. With the RBA on Tuesday the market will by unlikely to rally sharply ahead of a potential interest rate cut. The USD is on the backfoot post FOMC though so that is supporting the AUD/USD on dips and now the market is looking to the Bank of Japan for the next inspiration.

 

The Bank of Japan meeting is likely to conclude by 3pm today Australian time and expectations are high for a rate cut and/or expansion of the Asset purchase program. The USD/JPY is extremely volatile in the last 24 hours with rumors of government pressure on the BOJ spooking the market this morning. USD/JPY was as high at Y107.50 last week and touched Y103.30 this morning.

Important note: These technical and research reports are provided to easyMarkets® as a subscriber of third party providers. They are provided for informative purposes only and in no way can they be considered as a recommendation by easyMarkets® to you to engage in any trade. Hence, easyMarkets® shall not be held responsible for any outcome of trading decisions, in regards with these reports or similar reports. You hereby acknowledge that using the information entailed in these reports is at your sole responsibility and you will have no claims with regards to these reports against easyMarkets®. If you do not agree to this, you are strongly advised not to use these reports.

 

easyMarkets Pty Ltd (AFSL 246566 ABN 73107184510) makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites and the information contained does not take into account your personal objectives, financial situation and needs. easyMarkets recommends that you read the Regulation Page, The Product Disclosure Statement, the Terms and Conditions and the Financial Services Guide before making any decision concerning easyMarkets’ products.

USD/JPY Intraday: the downside prevails.

Pivot: 105.50

Our preference: short positions below 105.50 with targets @ 103.95 & 103.30 in extension.

Alternative scenario: above 105.50 look for further upside with 105.90 & 106.50 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
106.50 ***
105.90 ***
105.50 ***
104.49 Last
103.95 ***
103.30 ***
102.85 **

Ticker : JPY
AUD/USD Intraday: continuation of the rebound.

Pivot: 0.7490

Our preference: long positions above 0.7490 with targets @ 0.7535 & 0.7550 in extension.

Alternative scenario: below 0.7490 look for further downside with 0.7455 & 0.7435 as targets.

Comment: the RSI calls for a new upleg.

Supports and resistances:
0.7565 **
0.7550 ***
0.7535 ***
0.7521 Last
0.7490 ***
0.7455 ***
0.7435 ***

Ticker : AUD

 

 

 

 

Full Outlook

Forex Trading Platform Desktop, Tablet & Mobile

Through its real-time Forex trading platform, easyMarkets Australia offers complete suite of tool for Web, Desktop, Mobile and MT4 trading with 24 hours a day support and Dealing room service. In addition, easyMarkets provides One on One Forex training, The Forex School – Video on Demand forex trading lessons, and Forex seminars.

Why trade with easyMarkets?

  • Guaranteed Stop-Loss Rate
  • Competitive spreads
  • No commissions
  • Online Forex trading with Live, real time quotes.
  • No software downloads
  • Start trading within minutes.
  • Freeze and Trade©
platforms@2x
Daily Archive

DAILY ARCHIVE

FOREX MARKET

A summary of the previous day’s foreign exchange market movements

READ MORE >
Weekly Archive

WEEKLY ARCHIVE

CURRENCY MARKET

An in-depth market summary of the previous week’s foreign exchange trading movements

READ MORE >
Currencies Archive

CURRENCIES ARCHIVE

Weekly summary of currencies trading movements

READ MORE >

Our Awards

Try easyMarkets today

Get a free online demonstration of our leading online Forex trading platform.

Thank you for contacting us.

We have received your enquiry.

Risk Warning: easyMarkets Pty Ltd (AFSL 246566, ABN 73 107 184510) makes no recommendations as to the merits of any financial product referred to in this advertisement, emails or its related websites and the information contained does not take into account your personal objectives, financial situation and needs. Therefore you should consider whether these products are appropriate in view of your objectives, financial situation and needs as well as considering the risks associated in dealing with those products. easyMarkets Pty Ltd recommends that you read the PDS, the Terms & Conditions and the FSG before making any decision concerning easyMarkets Pty Ltd financial products. Forex and CFD trading involves substantial risk of loss. Do not invest money you cannot afford to lose.

Follow us: