FX-Strategy 4 Sep 2024

In the G10 FX Market, JPY and CHF are the top gainers today, up 0.26% and 0.21% versus the dollar while NZD and GBP are the top losers, down -0.06% and -0.03% versus the dollar, respectively. In the Asian equities, markets were trading weak today. The Hang Seng was trading at 17385.0, down -0.65%. The Nikkei 225 was trading at 37021.0, down -0.97%. In the European equities, indices were trading weaker today. The FTSE 100 was trading at 8227.0996, down -0.48%. The CAC 40 was trading at 7505.5, down -0.57%. The DAX 30 was trading at 18533.1504, down -0.62%. Looking at Equity Futures so far,The SP500 Futures was trading at 5504.4502, down -0.32%. In the Energy space, Oil futures were trading weak today. The Brent Crude Futures was trading at 73.255, down -0.38%. The WTI Crude Futures was trading at 69.46, down -0.5%.

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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: Support at 1.1022 for 1.1094

Short-term view: EURUSD support comes in at 1.1022 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.1094 enter at 1.1046. Below 1.1022 to open 1.1001

GBPUSD Chart (Two-week)

Strategy: Support at 1.3085 for 1.3148

Short-term view: GBPUSD MACD and RSI are flat but support comes in at 1.3085 and we see a rise to 1.3148 enter at 1.3106. Below 1.3085 to open 1.3055

USDJPY Chart (Two-week)

Strategy: Resistance at 145.92 for 144.62

Short-term view: USDJPY resistance comes in at 145.92 MACD and RSI have a bearish bias. Hence, we see a dip to 144.62 enter at 145.49. Above 145.92 to open 146.77

AUDUSD Chart (Two-week)

Strategy: Resistance at 0.6737 for 0.6682

Short-term view: AUDUSD resistance comes in at 0.6737 MACD and RSI have a bearish bias. Hence, we see a dip to 0.6682 enter at 0.6719. Above 0.6737 to open 0.6767