FX-Strategy 5 Sep 2024

In the G10 FX Market, JPY and NZD are the top gainers today, up 0.42% and 0.11% versus the dollar while NOK and SEK are the top losers, down -0.12% and -0.09% versus the dollar, respectively. In the Asian equities, markets were trading mixed today. The Nikkei 225 was trading at 36561.5, up 0.45%. The Hang Seng was trading at 17354.0, down -0.72%. In the European equities, indices were trading weak today. The FTSE 100 was trading at 8249.5996, down -0.18%. The CAC 40 was trading at 7477.7998, down -0.26%. The DAX 30 was trading at 18544.75, down -0.16%. Looking at Equity Futures so far,The SP500 Futures was trading at 5511.8501, down -0.04%. In the Energy space, Oil futures were trading firm today. The Brent Crude Futures was trading at 72.885, up 0.43%. The WTI Crude Futures was trading at 69.075, up 0.35%.

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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 1.105 for 1.1106

Short-term view: EURUSD support comes in at 1.105 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.1106 enter at 1.1068. Below 1.105 to open 1.1017

GBPUSD Chart (Two-week)

Strategy: Support at 1.3108 for 1.3182

Short-term view: GBPUSD support comes in at 1.3108 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.3182 enter at 1.3132. Below 1.3108 to open 1.3068

USDJPY Chart (Two-week)

Strategy: Resistance at 144.34 for 142.49

Short-term view: USDJPY resistance comes in at 144.34 MACD and RSI have a bearish bias. Hence, we see a dip to 142.49 enter at 143.73. Above 144.34 to open 144.96

AUDUSD Chart (Two-week)

Strategy: Support at 0.6691 for 0.6754

Short-term view: AUDUSD MACD and RSI are flat but support comes in at 0.6691 and we see a rise to 0.6754 enter at 0.6712. Below 0.6691 to open 0.6656