Forex Analysis: USD/CHF, AUD/JPY, EUR/USD, XAU/USD, NZD/USD, GBP/USD

Intraday news and views – USD/CHF

(AceTrader Team)

Intraday market moving news and views

Update Time: 11 Aug 2022 05:30GMT.

Intraday USD/CHF – 0.9438

Although dlr’s rebound on short covering after Intraday selloff on soft US CPI to a near 4-month trough of 0.9394 would bring range trading in Europe, as long as 0.9450/52 holds, downside bias remains for weakness to 0.9385, then 0.9355 later today.

Stand aside as below 0.9405/10 needed for a re- test of 0.9394, break, 0.9365/70.

AUD/JPY forex analysis: Targeting 95.73 weekly resistance [Video]

(Duncan Cooper – ACY Securities)

Join Senior Market Strategist & Trading Mentor Duncan Cooper as he watches price levels on the AUDJPY daily and 15 min charts.

Ichimoku cloud analysis: EUR/USD, XAU/USD, NZD/USD

(RoboForex Team)

EUR/USD, “Euro vs US Dollar”

EUR/USD is no longer moving inside the Triangle pattern. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Kijun-Sen at 1.0245 and then resume moving upwards to reach 1.0505. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.0155. In this case, the pair may continue falling towards 1.0065.

XAU/USD, “Gold vs US Dollar”

XAU/USD is testing Kijun-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1775.00 and then resume moving upwards to reach 1835.00. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1735.00. In this case, the pair may continue falling towards 1695.00.

NZD/USD, “New Zealand Dollar vs US Dollar”

NZD/USD is rising within the bullish channel. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen at 0.6355 and then resume moving upwards to reach 0.6555. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.6240. In this case, the pair may continue falling towards 0.6135. To confirm a further uptrend, the price must break the bullish channel’s upside border and fix above 0.6475.

Daily technical and trading outlook – GBP/USD

(AceTrader Team)

Trend daily chart

Sideways

Daily indicators

Rising

21 HR EMA

1.2185

55 HR EMA

1.2145

Trend hourly chart

Near term up.

Hourly indicators

Easing fm o/bot.

13 HR RSI

62

14 HR DMI

+ve

Daily analysis

Consolidation with upside bias.

Resistance

1.2332 – Jun 27 high.
1.2293 – Aug’s 1-month high (01).
1.2277 – Wed’s 1-week high.

Support

1.2192 – Hourly chart.
1.2175 – Last Thur’s NY top (now sup).
1.2137 – Mon’s high (now sup).

GBP/USD – 1.2212.. Cable also moved sideways with euro in Asia n started to climb in Europe on broad-based usd’s retreat n then jumped in NY morning after softer-than-expected U.S. CPI to as high as 1.2277 b4 falling on profit taking.

On the bigger picture, despite cable’s brief break of 2016 post-Brexit low of 1.1491 to a near 35-year trough of 1.1412 in mid-Mar 2020 on safe-haven usd’s demand following free fall in global stocks, price rallied to 1.3686 on the last trading day of 2020 following a last-minute EU-UK trade deal, then to a near 34-month 1.4241 peak in Feb suggests a major low is made. Having said that, cable’s erratic fall to 1.2162 in Dec 2021 n then continued fall this year to a 1.1934 in mid-Jun n weakness to a 2-year trough of 1.1761 in mid-Jul signals cor- rection fm 1.1412 over. Having said that, subsequent strg rise to 1.2293 last Mon n Wed’s gain to 1.2277 may re-test 1.2293, abv, 1.2332 but 1.2406 would hold.

Today, cable’s rise fm 1.2004 (Fri) to y’day’s 1-week 1.2277 top suggests pullback fm Aug’s 1-month peak at 1.2293 peak has ended, abv would extend upmove fm 1.1761 twd 1.2332 next week. Intra-day retreat would bring range trading b4 up n only below 1.2175 aborts bullish view, risks 1.2137, break, 1.2063/66 Mon.

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