September 15, during the Asian session, the situation on the foreign exchange market has changed slightly, after the weakening of the US dollar, during the American session. Traders are waiting for new signals from central banks to determine the further development of the situation in the foreign exchange market. Today, the focus is on the Bank of England meeting, which will announce the interest rate decision and the total amount of the QE program for September.
USD / JPY:
Yesterday, on the daily chart of the USD / JPY pair, a reversal candle was formed, a shooting star, after which, we can consider the scenario of reducing the USD / JPY currency pair quotes, to test the key support level of 101.01.
AUD / USD:
Yesterday’s attempt of bulls to break through the key resistance level of 0.7490 did not succeed. At the same time, yesterday, on the daily chart of the AUD / USD currency pair, a doji reversal candle was formed, which indicates the likelihood of a new attempt by the bulls to resume growth by testing the key resistance level of 0.7490, the breakdown of which will make it possible to continue moving northward in the direction of key resistance level of 0.7719. Alternative option. In the case of a resumption of decline in quotations of the AUD / USD currency pair and a breakdown of the intermediate support level of 0.7441, we can expect a bearish trend to continue working out the key support level of 0.7305.
NZD / USD:
The bulls tried several times to break through the key resistance level of 0.7296, but all attempts ended in failure. At the same time, the quotes of the NZD / USD currency pair were trapped between the lower border of the ascending channel from below and the key resistance level from above. In the case of continued decline and the breakdown of the lower boundary of the upward channel, we can expect a continuation of the decline of the pair NZD / USD, to test the key support level of 0.7053. And in the case of the resumption of growth and the breakdown of the key resistance level of 0.7296, we can expect the upward movement of the pair NZD / USD to continue, to test the key resistance level of 0.7416.
During yesterday’s trading, the gold quotes strengthened a little, while a high wave reversal candle was formed on the daily chart. After that, we can expect the continuation of the bullish dynamics, to test the key resistance level of 1329.62, the breakdown of which will allow the bulls to continue to move further in the direction of the key resistance level of 1357.64. Alternative option. In the case of renewed decline in quotations of gold and a breakdown of the low level of yesterday’s daily candle, we can expect the continuation of the negative dynamics, to test the key support level of 1304.32.
EUR / JPY:
Yesterday, after a false breakdown of the key resistance level of 115.45, the quotes bounced down, and a falling star was formed on the daily chart. After that, we can expect a correction to the south, in the direction of the key support level of 112.32.
Despite the data from the US Energy Information Administration, which showed a drop in oil reserves by -0.559 million barrels, over the past week, oil prices continued to decline. A number of factors had a negative impact on the price of oil, such as a decline in gasoline production by -0.23 million barrels per day, a decline in oil refining by -0.2 million barrels per day, and of course, not a sufficient increase in imports. So, despite the fact that the growth of oil imports in the United States amounted to 1 million barrels per day, it is not enough to block the previous drop of -1.5 million barrels. After the breakdown of the lower boundary of the pennant, there is a chance that the negative dynamics will continue, to refine the key support level of 45.64. At the same time, completely eliminate the possibility of correction to the top will not work.
Overview prepared by Fort Financial Services Research.
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