FX-Strategy 3 Sep 2024

In the G10 FX Market, JPY and CHF are the top gainers today, up 0.61% and 0.02% versus the dollar while AUD and NZD are the top losers, down -0.76% and -0.66% versus the dollar, respectively. In the Asian equities, markets were trading mixed today. The Nikkei 225 was trading at 38745.5, up 0.05%. The Hang Seng was trading at 17608.5, down -0.52%. In the European equities, indices were trading stronger today. The DAX 30 was trading at 18959.5996, up 0.09%. The FTSE 100 was trading at 8384.0, up 0.05%. The CAC 40 was trading at 7661.7002, up 0.04%. Looking at Equity Futures so far,The SP500 Futures was trading at 5645.3501, up 0.02%. In the Energy space, Oil futures were trading firm today. The WTI Crude Futures was trading at 73.57, up 0.46%. The Brent Crude Futures was trading at 77.215, up 0.1%.

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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 1.1086 for 1.1029

Short-term view: EURUSD MACD and RSI are flat but resistance comes in at 1.1086 and we see a dip to 1.1029 enter at 1.1067. Above 1.1086 to open 1.1099

GBPUSD Chart (Two-week)

Strategy: Support at 1.3091 for 1.3141

Short-term view: GBPUSD MACD and RSI are flat but support comes in at 1.3091 and we see a rise to 1.3141 enter at 1.3107. Below 1.3091 to open 1.3076

USDJPY Chart (Two-week)

Strategy: Resistance at 146.63 for 145.23

Short-term view: USDJPY MACD and RSI are flat but resistance comes in at 146.63 and we see a dip to 145.23 enter at 146.17. Above 146.63 to open 147.48

AUDUSD Chart (Two-week)

Strategy: Resistance at 0.6767 for 0.6729

Short-term view: AUDUSD resistance comes in at 0.6767 MACD and RSI have a bearish bias. Hence, we see a dip to 0.6729 enter at 0.6754. Above 0.6767 to open 0.6781