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EURUSD eyes 1.1790 break to keep controls on US inflation dayEURUSD struggles to keep rebound from monthly low ahead of the key US Consumer Price Index (CPI) data for August. Given the latest chatters over Fed tapering before the next week’s FOMC, today’s US inflation data becomes crucial for the markets. Ahead of the data, the US dollar slips and prints mild gains on the face of the EURUSD. However, failures to cross the 1.1910 horizontal resistance and sluggish oscillators keep sellers hopeful. It should be noted, though, that the 50-DMA and 20-DMA, respectively around 1.1795 and 1.1790, restrict the quote’s short-term downside ahead of July’s low near 1.1790. If US inflation data rejects tapering concerns with a downbeat figure, the EURUSD prices may recover from the key moving averages. With this, the latest swing high around 1.1850 may offer an intermediate halt before highlighting the 1.1910 horizontal area, comprising multiple tops marked since June 30. In a case where the EURUSD bulls manage to keep reins past 1.1910, odds of its rally towards May’s bottom near 1.1985 and the 1.2000 psychological magnet should return to the charts.
Short
by MTradingGlobal
EURUSD bulls need 1.1840 breakout to prosperDespite staying beyond 200-EMA so far in September, EURUSD gains have recently been challenged by a one-week-old descending trend line near 1.1840. Considering the firmer RSI and receding bearish bias of MACD, the upside momentum has brighter chances to accelerate towards the monthly high, also the double-top, surrounding 1.1910. However, 1.1855 may offer an intermediate halt during the rise. Should the pair manages to cross the 1.1910 hurdle, it becomes capable to revisit the early June lows near 1.2100. Meanwhile, a downside break of the 200-EMA level surrounding 1.1810 has an extra filter to the south, namely the August 13 peak close to the 1.1800 round figure. Also acting as short-term supports are 50% and 61.8% Fibonacci retracement level of August-September upside, respectively around 1.1785 and 1.1755. Given the EURUSD bear’s dominance past 1.1755, the early August low near 1.1700 will act as a buffer during the fall to the yearly low close to 1.1665-60.
Long
by MTradingGlobal
AUDUSD bears attack 0.7400 key support despite RBA taperingEarly Tuesday, the Reserve Bank of Australia (RBA) surprises markets by announcing details of weekly bond purchase tapering. The traders were earlier hoping for a delay in the tapering plans and hence the AUDUSD jumped around 30 pips just after the RBA news. However, downbeat comments concerning the Aussie GDP and cautious economic view recall the pair sellers, directing them towards 61.8% Fibonacci retracement of July–August downside, near 0.7410. Also acting the crucial support is an upward sloping trend line from August 20, near the 0.7400 round figure. Given the RSI pullback from overbought territory, AUDUSD may witness further declines and hence the stated support line gains major attention. Alternatively, a descending resistance line from July 13, near 0.7480, guards the quote’s short-term upside. In a case where the AUDUSD bulls look to retake controls beyond 0.7480, they need validation from the 0.7500 threshold, a break of which will propel the run-up towards July month’s high near 0.7600. Overall, RBA’s cautious optimism needs back-up from the weaker US dollar and improvement in the covid conditions to keep the AUDUSD buyers hopeful.
by MTradingGlobal
EURUSD refreshes multi-day low, 1.1655 can trigger a bounceEURUSD drops to the fresh low since November 2020 during early Thursday amid broad US dollar strength. While a clear downside break of the 1.1700 threshold keeps the pair sellers hopeful, a downward sloping trend line from mid-June joins the oversold RSI conditions to challenge the further losses around 1.1655. It’s worth noting that the pair’s refrain to bounce off 1.1655 will make it vulnerable to visit the late 2020 lows near the 1.1600 round figure. During the anticipated bounce, the 1.1700 level guards immediate upside before the last month’s low near 1.1755. Should EURUSD bulls keep the reins past 1.1755, the monthly high around 1.1805 will return to the charts. However, 50-DMA and a two-month-old resistance line, respectively around 1.1845 and 1.1870, could challenge the pair buyers afterward. To sum up, the major currency pair remains on the bearish trajectory but intermediate bounces can’t be ruled out.
Short
by MTradingGlobal
Aarti Drugs || Chart analysis✅Aarti Drugs || Chart analysis✅ Can see- ✅Ascending triangle ✅Descending triangle ✅Symmetric triangle ✅Parallel uptrend channel ✅downtrend channel 👉This is not a buy recommendation. 👉The stock is in a major suppport,and maybe can see a reversal from current level. 👉Postive Q1 published. Study well🙏expecting good growth. ABOUT THE COMPANY ✅ Established in the year 1984 and a part of $1000 million Aarti Group of Industries, Aarti Drugs Ltd. (ADL) is engaged into manufacturing and selling Active Pharmaceutical Ingredients (API's), Pharma Intermediates, Specialty Chemicals as well as Formulations. It is exporting its API's and Speciality chemicals to over 100 countries across the globe. Thank You.💚 Like🔹Comment🔹Support
NSE:AARTIDRUGSLong
by ANKITHSHAJU
7
USDCAD bears need to break 1.2455-50 for convictionUSDCAD struggles to extend the previous day’s rebound during early Friday. Inability to rise joins downbeat MACD and sluggish RSI to keep sellers hopeful. However, a convergence of 50-day and 100-EMA surrounding 1.2455-50 becomes a tough nut crack for the pair sellers. On an immediate basis, a daily closing below the 1.2500 threshold becomes necessary to confirm the pair’s short-term weakness. It’s worth noting that July 30 low near 1.2420 acts as an extra filter before directing the bears towards the previous month’s bottom surrounding 1.2300. On the flip side, USDCAD bulls remain directed towards a short-term falling trend line from July 23, near 1.2585, during further recovery. Also acting as the short-term hurdles are multiple tops marked since late July between 1.2590 and 1.2610. Should the pair buyers remain dominant above 1.2610, July’s top of 1.2807 and the yearly peak surrounding 1.2880 will be the key to follow.
Short
by MTradingGlobal