FX-Strategy 29 Aug 2024

Published at: August 29, 2024 5:08 PM

In the G10 FX Market, NZD and AUD are the top gainers today, up 0.62% and 0.31% versus the dollar while USD and JPY are the top losers. In the Asian equities, markets were trading stronger today. The Nikkei 225 was trading at 38366.5, up 0.82%. The Hang Seng was trading at 17747.0, up 0.51%. In the European equities, indices were trading mixed today. The DAX 30 was trading at 18793.75, up 0.03%. The FTSE 100 was trading at 8356.5996, up 0.04%. The CAC 40 was trading at 7580.6001, down -0.01%. Looking at Equity Futures so far,The SP500 Futures was trading at 5587.9502, up 0.52%. In the Energy space, Oil futures were trading stronger today. The Brent Crude Futures was trading at 77.605, up 0.28%. The WTI Crude Futures was trading at 74.145, up 0.22%.

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European Equities Daily Chart (1-month)

European Equities Daily Chart (1-month)

Daily FX Pivots

Daily FX Pivots

Brent Crude Daily Chart (1-month)

Brent Crude Daily Chart (1-month)

Forex Chart and Technical Analysis

EURUSD Chart (Two-week)

EURUSD Chart (Two-week)

Strategy: Resistance at 1.1169 for 1.1088

Short-term view: EURUSD resistance comes in at 1.1169 MACD and RSI have a bearish bias. Hence, we see a dip to 1.1088 enter at 1.1142. Above 1.1169 to open 1.1217

GBPUSD Chart (Two-week)

GBPUSD Chart (Two-week)

Strategy: Resistance at 1.3247 for 1.3151

Short-term view: GBPUSD resistance comes in at 1.3247 MACD and RSI have a bearish bias. Hence, we see a dip to 1.3151 enter at 1.3223. Above 1.3247 to open 1.3303

USDJPY Chart (Two-week)

USDJPY Chart (Two-week)

Strategy: Support at 143.84 for 145.19

Short-term view: USDJPY support comes in at 143.84 MACD and RSI have a bullish bias. Hence, we see a bounce to 145.19 enter at 144.29. Below 143.84 to open 143.08

AUDUSD Chart (Two-week)

AUDUSD Chart (Two-week)

Strategy: Support at 0.6788 for 0.6836

Short-term view: AUDUSD MACD and RSI are flat but support comes in at 0.6788 and we see a rise to 0.6836 enter at 0.6804. Below 0.6788 to open 0.6762

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