On 08/25/2016. On August 25, the foreign exchange market is lull, as most financial markets have stabilized, waiting for a speech by Federal Reserve Chairman Janet Yellen on Friday. This presentation may shed light on the likely scale and timing of US interest rate increases.
USD / JPY: Yesterday, the USD / JPY pair slightly increased, but that was enough; bullish takeover to create a candle pattern, then there is a chance that the USD / JPY pair will continue to grow, to test the key resistance level of 101.01. Alternative option. In case of resumption of decline and breakdown of yesterday’s daily candlestick, the likelihood of a bearish movement of the USD / JPY pair will appear, to test the key support level of 98.98.
AUD / USD: Yesterday, on the daily chart of the AUD / USD pair, a doji reversal candle was formed, after which, during the Asian session, the bulls resumed their growth. Against this background, we can expect the continuation of the bullish movement, the pair AUD / USD, within the ascending channel, to test the key resistance level of 0.7719.
NZD / USD: During yesterday’s trading, quotes of the NZD / USD currency pair, were able to break through and gain a foothold above the level of 0.7296, after which the bulls have a good opportunity to continue moving northward, in the direction of the key resistance level 0, 7416. Alternative option. In case of resumption of decline and the return of quotations of the pair NZD / USD, below the level of 0.7296, there will be a probability of correction in the direction of the key support level of 0.7053.
XAUUSD: During yesterday’s trading, gold quotes dropped sharply, breaking through and consolidating below 1329.62, after which there is a chance that the downward movement will continue, to test the key support level of 1304.32. Alternative option. Demand for gold, as an asset safe haven, may recover, awaiting tomorrow’s Fed Chairman Yellen’s speech. In case of resumption of growth and the return of quotations, above the level of 1329.62, there is a probability of correction to the north, in the direction of the key resistance level of 1357.64.
EUR / JPY: The situation on the chart of the EUR / JPY currency pair, remains unchanged, the flat continues. At the same time, yesterday a high wave reversal candle was formed on the daily chart, after which, there is a probability of correction to the top, to work out the upper limit of the horizontal channel 113.75, the breakdown of which will open the way for the bulls to the north, to the key resistance level of 115.45. Alternative option. In case of continued decline in the EUR / JPY pair, we can expect to work out the lower boundary of the horizontal channel 112.31, the breakdown of which will open the way for the bears to the south to test the key support level of 109.47.
BRNU6: Crude oil quotes fell to weekly lows, after an unexpected increase in US stocks. According to the US Energy Information Agency, published yesterday, crude oil inventories rose by 2.501 million barrels by the end of last week. The situation in the oil market is not stable, but after yesterday’s decline, there is a possibility of continued movement to the south, to a key support level of 48.01.
Analytics provided by FortFS Broker