Sample Category Title

For the 24 hours to 23:00 GMT, the USD rose 0.22% against the JPY and closed at 109.57.

On the macro front, Japan’s final machine tool orders dropped 18.3% on a yearly basis in December, in line with the initial estimates.

In the Asian session, at GMT0400, the pair is trading at 109.52, with the USD trading 0.05% lower against the JPY from yesterday’s close.

Overnight data showed that Japan’s Nikkei manufacturing PMI dropped to a reading of 50.0 in January, compared to a reading of 52.6 in the previous month.

Earlier in the session, Japan’s leading economic index eased to a level of 99.1 in November, following a revised reading of 99.7 in the previous month. Moreover, the coincident index fell to a level of 102.9 in November, compared to a revised reading of 104.6 in the prior month.

The pair is expected to find support at 109.28, and a fall through could take it to the next support level of 109.04. The pair is expected to find its first resistance at 109.88, and a rise through could take it to the next resistance level of 110.24.

The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.

For the 24 hours to 23:00 GMT, the USD dropped 0.25% against the CHF and closed at 0.9946.

In the Asian session, at GMT0400, the pair is trading at 0.9940, with the USD trading 0.06% lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9922, and a fall through could take it to the next support level of 0.9904. The pair is expected to find its first resistance at 0.9974, and a rise through could take it to the next resistance level of 1.0008.

Amid no macroeconomic releases in Switzerland today, investor sentiment would be governed by global macroeconomic factors.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

Daily Pivots: (S1) 0.7124; (P) 0.7135; (R1) 0.7152; More...

AUD/USD's break of 0.7116 minor support suggests that rebound from 0.6722 has completed at 0.7235 already. Intraday bias is turned to the downside for 38.2% retracement of 0.6722 to 0.7235 at 0.7039 first. Break will target 61.8% retracement at 0.6918 and below. On the upside, however, break of 0.7166 minor resistance will turn bias back to the upside and will likely extend the rebound from 0.6722.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

For the 24 hours to 23:00 GMT, the USD slid 0.07% against the CAD and closed at 1.3345.

In economic news, Canada’s retail sales fell 0.9% on a monthly basis in November, amid slump in sales at motor vehicle and parts dealers and at gasoline stations. In the previous month, retail sales had recorded a revised rise of 0.2%. Market participants had expected retail sales to drop 0.6%.

In the Asian session, at GMT0400, the pair is trading at 1.3346, with the USD trading slightly higher against the CAD from yesterday’s close.

The pair is expected to find support at 1.3311, and a fall through could take it to the next support level of 1.3275. The pair is expected to find its first resistance at 1.3376, and a rise through could take it to the next resistance level of 1.3405.

In absence of any macroeconomic releases in Canada today, investor sentiment would be governed by global macroeconomic factors.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the AUD increased 0.28% against the USD and closed at 0.7144.

LME Copper prices dropped 0.1% or $6.0/MT to $5920.5/MT. Aluminium prices rose 0.5% or $10.0/MT to $1877.5/MT.

In the Asian session, at GMT0400, the pair is trading at 0.7123, with the AUD trading 0.29% lower against the USD from yesterday’s close.

Overnight data showed that Australia’s unemployment rate unexpectedly fell to 5.0% in December, marking its lowest level since June 2011 and compared to a rate of 5.1% in November. Market participants had expected the unemployment rate to record an unchanged reading. Additionally, the CBA manufacturing PMI rose to a level of 54.3 in January, compared to a reading of 54.0 in the previous month. On the other hand, the CBA services PMI slid to a level of 51.0 in January, following a reading of 52.7 in the prior month.

The pair is expected to find support at 0.7107, and a fall through could take it to the next support level of 0.7091. The pair is expected to find its first resistance at 0.7153, and a rise through could take it to the next resistance level of 0.7183.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

Daily Pivots: (S1) 109.31; (P) 109.65; (R1) 109.99; More...

Upside momentum in USD/JPY is rather unconvincing as seen in 4 hour MACD. But with 109.14 minor support intact, further rise is in favor to 61.8% retracement of 114.54 to 104.69 at 110.77. We'd look for topping signal above there. On the downside, break of 109.14 minor support will be the first sign of completion of the rebound. Intraday bias will then be turned back to the downside.

In the bigger picture, price actions from 125.85 (2015 high) are seen as a long term corrective pattern, no change in this view. Apparently, such corrective pattern is not completed yet. Fall from 114.54 is seen as part of the falling leg from 118.65 (2016 high). Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51, which is close to 100 psychological level. But in that case, we'd expect strong support from 98.97 to contain downside to bring reversal. Also, this bearish case will remain the preferred one as long as 114.54 resistance holds.

For the 24 hours to 23:00 GMT, Gold rose 0.29% against the USD and closed at USD1288.20 per ounce, as weakness in the US dollar increased demand for the dollar denominated commodity.

In the Asian session, at GMT0400, the pair is trading at 1288.20, with gold trading flat against the USD from yesterday’s close.

The pair is expected to find support at 1283.77, and a fall through could take it to the next support level of 1279.33. The pair is expected to find its first resistance at 1292.37, and a rise through could take it to the next resistance level of 1296.53.

The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

Daily Pivots: (S1) 0.9929; (P) 0.9959; (R1) 0.9980; More....

Intraday bias in USD/CHF is turned neutral with a temporary top in place at 0.9990. Some consolidation would be seen, but downside should be contained above 0.9856 support to bring another rise. As noted before, correction from 1.0128 should have completed at 0.9716 already. On the upside, above 0.9990 will target a test on 1.0128 high next.

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we'd slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

For the 24 hours to 23:00 GMT, Silver marginally rose against the USD and closed at USD15.37 per ounce.

In the Asian session, at GMT0400, the pair is trading at 15.36, with silver trading slightly lower against the USD from yesterday’s close.

The pair is expected to find support at 15.28, and a fall through could take it to the next support level of 15.19. The pair is expected to find its first resistance at 15.45, and a rise through could take it to the next resistance level of 15.53.

The white metal is showing convergence with its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, Crude Oil declined 1.04% against the USD and closed at USD52.48 per barrel, amid potential US sanctions on Venezuela's crude oil exports. Additionally, the American Petroleum Institute reported that the US crude supplies rose by about 6.6 million barrels in the week ended 18 January 2019.

In the Asian session, at GMT0400, the pair is trading at 52.41, with oil trading 0.13% lower against the USD from yesterday's close.

The pair is expected to find support at 51.63, and a fall through could take it to the next support level of 50.86. The pair is expected to find its first resistance at 53.41, and a rise through could take it to the next resistance level of 54.42.

Crude oil is trading below its 20 Hr and 50 Hr moving averages.