USD/JPY 118.25-119.45 118.00-119.90
EUR/USD 1.1370-1.1415 1.1335-1.1445
AUD/USD 0.7750-0.7835 0.7715-0.7875
NZD/USD 0.7505-0.7590 0.7470-0.7620
GBP/USD 1.5365-1.5480 1.5310-1.5500
USD/CHF 0.9335-0.9450 0.9285-0.9490
USD/CAD 1.2395-1.2490 1.2350-1.2540
EUR/JPY 134.85-136.35 134.35-136.70
EUR/GBP 0.7335-0.7405 0.7315-0.7420
By Trading Central
(Ranges are calculated using recent high and lows and technical analysis - Fibonacci levels, trendlines and moving averages.)
USD/JPY Intraday: turning down. The US dollar weakened against the yen and other currencies as the minutes from the Federal Reserve's January meeting showed that some officials thought premature rate increases might weigh on the US economy's recovery, and that a deterioration of economies overseas could present risks to the country's economic outlook. USD/JPY has broken below a rising trend line on an intraday chart and remains on the downside. The 20-period moving average has drifted below the 50-period one (price is below both MAs), calling for bearishness. Also the RSI, capped by a declining trend line, is below its neutrality level of 50 lacking upward momentum. We suggest SHORT positions below 119.45 with targets @ 118.25 & 118 in extension. Above 119.45 look for further upside with 119.9 & 120.4 as targets.
EUR/USD Intraday: caution. The US dollar turned soft after the release of the Federal Reserve's FOMC meeting minutes. EUR/USD bounced from an intraday support of 1.1335 but still stand below the key resistance at 1.1415. Intraday technical indicators (RSI, 20- and 50-period moving averages) are mixed and call for caution. We suggest SHORT positions as long as key resistance at 1.1415 is not violated, with targets @ 1.137 & 1.1335 in extension. Above 1.1415 look for further upside with 1.1445 & 1.147 as targets.
AUD/USD Intraday: key resistance at 0.7835. Though the pair once struck against the key resistance at 0.7835 overnight after the release of the Federal Reserve's FOMC meeting minutes, it remains on the downside. The pair tried in vain to break above that key resistance level in several attempts in the past 2 trading sessions. We suggest SHORT positions below 0.7835 with targets @ 0.775 & 0.7715 in extension. Above 0.7835 look for further upside with 0.7875 & 0.7905 as targets.
NZD/USD Intraday: further advance. The pair maintains its upward momentum as the RSI has broken above a declining trend line and remains on the upside of its neutrality level of 50%. Meanwhile, the 20-period moving average has climbed above the 50-period one (price being supported by both MAs), advocating for further bullishness. We suggest LONG positions above 0.7505 with targets @ 0.759 & 0.762 in extension. Below 0.7505 look for further downside with 0.747 & 0.744 as targets.
GBP/USD Intraday: the upside prevails. The UK's jobless rate fell to 5.7% in the October-December period from 5.8% in the previous period, while jobless claims fell by 38.6K in January after a 35.8K drop in December, helping to lend strength to the sterling. GBP/USD is challenging the resistance at 1.5480 while it is supported by the 20-period moving average, which also stands on the 50-period one. Meanwhile the RSI stays above its neutrality area at 50 lacking downward momentum. We suggest LONG positions above 1.5365 with targets @ 1.548 & 1.55 in extension. Below 1.5365 look for further downside with 1.531 & 1.527 as targets.
USD/CHF Intraday: the upside prevails. The pair posts consolidation but remains on the upside, as its rising 50-period moving average maintains the bullish bias. Meanwhile, the RSI is around 50 and lacks momentum. Thus, even though a continuation of the consolidation cannot be ruled out, its extent should be limited. We suggest LONG positions above 0.9335 with targets @ 0.945 & 0.949 in extension. Alternatively, a break below 0.9335 would call for further downside with 0.9285 & 0.924 as targets.
USD/CAD Intraday: continuation of the rebound. The pair has broken above a bearish channel and is expected to post further bounce in the coming sessions. A support base at 1.2395 has formed and has allowed for a temporary stabilisation. Besides, the RSI is positively oriented, calling for further bounce as well. We suggest LONG positions above 1.2395 with targets @ 1.249 & 1.254 in extension, while a drop below 1.2395 may call for further downside with 1.235 & 1.231 as targets.
EUR/JPY Intraday: under pressure. The pair has broken below its support and remains under pressure. The RSI is below its neutrality area at 50 lacking strong upside momentum. It is likely that a break below 134.85 would trigger a drop towards 134.35 and even 133.9 in extension. We suggest SHORT positions below 136.35 with targets @ 134.85 & 134.35 in extension. A rise Above 136.35 would suggest further upside with 136.7 & 137.3 as targets.
EUR/GBP Intraday: key resistance at 0.7405. The pair is rebounding but remains below its key resistance at 0.7405. The declining 50-period moving average should prevent any upside potential. As long as the resistance at 0.7405 is not surpassed, the risk of the break below 0.7335 remains high. We suggest SHORT positions below 0.7405 with targets @ 0.7335 & 0.7315 in extension. A break above 0.7405 would allow for further upside with 0.742 & 0.7455 as targets.
TRADING Central (www.tradingcentral.com) is a commentary service specializing in technical analysis.
(The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects TRADING Central current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable. This is a financial news and information service. It is provided in general terms and does not take account of or address any individual user's position. To the extent that this article includes suggestions as to various possible investment strategies which users might consider, it does so in only general terms without reference to the personal factors which should determine any user's investment decisions. Nothing contained in this service constitutes personalized investment advice. Dow Jones does not warrant the accuracy, completeness or timeliness of the information in this article, and any errors shall not be made the basis for any claim against Dow Jones. The author does not invest in the instruments or markets cited in this article. This article does not constitute or form part of any invitation or inducement to buy or sell any security.)
(END) Dow Jones Newswires
February 19, 2015 00:49 ET (05:49 GMT)
#USD_Soft
#FX
#Forex
#Dovish_FOMC
#FOMC_Minutes
#TurnsSoft
0 Response to "USD Turns Soft on Dovish FOMC Minutes -- Asia Daily Forex Outlook"
Thanks for give comment.