Technical Analysis

Support and Resistance for Apr 28, 2017 - US Session

Support Resistance:

Currency Pair EUR/USD GBP/USD USD/JPY AUD/USD Dow Jones
GOLD
Resistance 3 1.0980 1.3020 112.90 0.7550 21090 1272.50
Resistance 2 1.0940 1.2990 112.50 0.7505 21050 1270.00
Resistance 1 1.0905 1.2950 111.90 0.7480 21000 1267.50
Market 1.0910 1.2900 111.60 0.7460 20983 1265.60
Support 1 1.0880 1.2870 111.10 0.7420 20950 1262.50
Support 2 1.0850 1.2810 110.70 0.7400 20900 1260.00
Support 3 1.0805 1.2780 110.10 0.7375
20840 1257.50
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Key points for today 28th of Apr 2017

GBP Gross Domestic Product (YoY) (1Q A)

An indicator for broad overall growth in the United Kingdom. Robust UK GDP growth signals a heightened level of economic activity, and therefore a high demand for currency. Economic expansion also raises concerns about inflationary pressure, which generally prompts monetary authorities to increase interest rates. This means that positive GDP readings are generally bullish for a given currency, while negative readings are bearish. Due to the untimeliness of this report and because data on GDP components are available beforehand, the actual GDP figure is usually well anticipated. But given its overall significance GDP has the tendency to move the market upon release, acting to confirm or upset economic expectations. Robust GDP growth signals a heightened level of activity that is generally associated with a healthy economy. However economic expansion also raises concerns about inflationary pressures which may lead to monetary policy tightening. The headline figure for UK GDP is an annualized percentage growth rate

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Market review for for Apr 28, 2017

In New Zealand this morning, New Zealand business sentiment declined slightly in March, ANZ Bank reported Friday.

The headline figure from ANZ Bank’s business outlook survey showed a net 11% of respondents expected the economy to improve over the next 12 months, down slightly form an 11.3% optimism level in the March poll.

Released on a monthly basis, ANZ’s business outlook survey is based on consultations with 1,500 businesses nationwide.

Business confidence has been on a gradual decline since last September. The economy ran into a rough patch at the end of 2016, with GDP accelerating at the slowest pace since 2015. The weakness was attributed to declines in agriculture and manufacturing.

The New Zealand dollar was little change against its U.S. counterpart following the early afternoon data release. The kiwi dollar was last seen below 0.6900 U.S., its lowest in nearly eight weeks.

The New Zealand government reported an 11% pickup in exports last month, the biggest gain in two years. Exports reached a seasonally adjusted $4.65 billion in March compared with the same month a year earlier. That was the highest monthly level since March 2015.

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Support and Resistance for Apr 28, 2017 - European Session

Support Resistance:

Currency Pair EUR/USD GBP/USD USD/JPY AUD/USD USD/CHF
GOLD
Resistance 3 1.0950 1.2990 112.90 0.7590 1.0040 1272.50
Resistance 2 1.0905 1.2950 112.50 0.7550 1.0005 1270.00
Resistance 1 1.0880 1.2905 111.90 0.7505 0.9950 1267.50
Market 1.0865 1.2895 111.28 0.7477 0.9940 1265.50
Support 1 1.0850 1.2840 111.20 0.7470 0.9905 1262.50
Support 2 1.0820 1.2805 110.90 0.7420 0.9870 1260.00
Support 3 1.0780 1.2770 110.20 0.7390
0.9820 1257.50
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Support and Resistance for Apr 26, 2017 - US Session

Support Resistance:

Currency Pair EUR/USD GBP/USD USD/JPY AUD/USD Dow Jones
GOLD
Resistance 3 1.0980 1.2990 112.90 0.7590 21090 1272.50
Resistance 2 1.0940 1.2950 112.50 0.7550 21050 1270.00
Resistance 1 1.0905 1.2905 111.90 0.7505 21000 1267.50
Market 1.0890 1.2880 111.40 0.7480 20990 1263.70
Support 1 1.0850 1.2860 110.90 0.7470 20950 1262.50
Support 2 1.0820 1.2805 110.10 0.7420 20900 1260.00
Support 3 1.0780 1.2770 109.70 0.7400
20840 1257.50
Read more ...
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