FX-Strategy 28 Aug 2024

In the G10 FX Market, AUD and USD are the top gainers today while NOK and JPY are the top losers, down -0.37% and -0.36% versus the dollar, respectively. In the Asian equities, markets were trading mixed today. The Nikkei 225 was trading at 38367.0, up 0.36%. The Hang Seng was trading at 17709.0, down -0.82%. In the European equities, indices were trading firm today. The DAX 30 was trading at 18722.75, up 0.1%. The FTSE 100 was trading at 8374.5, up 0.2%. The CAC 40 was trading at 7586.5498, up 0.11%. Looking at Equity Futures so far,The SP500 Futures was trading at 5633.5498, up 0.18%. In the Energy space, Oil futures were trading weaker today. The WTI Crude Futures was trading at 75.16, down -0.28%. The Brent Crude Futures was trading at 78.67, down -0.28%.

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European Equities Daily Chart (1-month)

Daily FX Pivots

Brent Crude Daily Chart (1-month)

Forex Chart and Technical Analysis

EURUSD Chart (Two-week)

Strategy: Resistance at 1.1175 for 1.1119

Short-term view: EURUSD resistance comes in at 1.1175 MACD and RSI have a bearish bias. Hence, we see a dip to 1.1119 enter at 1.1157. Above 1.1175 to open 1.12

GBPUSD Chart (Two-week)

Strategy: Resistance at 1.3292 for 1.315

Short-term view: GBPUSD MACD and RSI are flat but resistance comes in at 1.3292 and we see a dip to 1.315 enter at 1.3245. Above 1.3292 to open 1.3322

USDJPY Chart (Two-week)

Strategy: Resistance at 144.78 for 143.52

Short-term view: USDJPY MACD and RSI are flat but resistance comes in at 144.78 and we see a dip to 143.52 enter at 144.47. Above 144.78 to open 145.61

AUDUSD Chart (Two-week)

Strategy: Support at 0.6783 for 0.6805

Short-term view: AUDUSD MACD and RSI are flat but support comes in at 0.6783 and we see a rise to 0.6805 enter at 0.679. Below 0.6783 to open 0.6771