US annual gains fall below 6% for the first time in 12 months

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US annual gains fall below 6% for the first time in 12 months

S&P Dow Jones Indices today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for August 2018 shows that home prices continued their rise across the country over the last 12 months.

Read more: https://www.spice-indices.com/idpfiles/ ... nload=true
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US Dollar Index tumbles

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US Dollar Index tumbles further near 95.80

- The index loses further momentum and drops to the 95.90/85 band.
- US 10-year yields come up after dropping to 2.95% earlier in the day.
- Market attention remains on the US mid-term elections results.


The US Dollar Index (DXY), which tracks the greenback vs. its main competitors, remains under heavy pressure this week and is now testing lows in the 95.90/85 band.

US Dollar Index drops to multi-day lows

The greenback stays fragile so far this week, losing ground for the third consecutive session and navigating fresh multi-day lows in the vicinity of 95.90.

The greenback came under renewed and strong selling pressure following the results from the US mid-term elections. In fact, and matching initial forecasts, the elections now show a divided Congress, where Republicans keep control of the Senate and Democrats regained the House of Representatives.

In addition, yields of the key US 10-year reference are now sidelined around 3.19% after bottoming out in the 2.95% region soon after the elections results.

In the US data space, the weekly report on US crude oil supplies by the DoE will be the only release of note.

US Dollar Index relevant levels

As of writing the index is losing 0.46% at 95.79 facing the next support at 95.47 (low Oct.20) seconded by 95.38 (55-day SMA) and finally 95.22 (100-day SMA). On the other hand, a breakout of 96.49 (10-day SMA) would open the door to 96.68 (high Nov.5) and then 97.19 (2018 high Oct.31).

Source: https://www.fxstreet.com/news/us-dollar ... 1811070931
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USD/CHF Technical Analysis: 100-day MA support could be put to test today

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USD/CHF Technical Analysis: 100-day MA support could be put to test today

The corrective bounce in the USD/CHF pair has likely ended and the sell-off from the recent high of 1.0128 looks set to resume, according to technical charts. As of writing, the spot is trading at 0.9947 and could drop to the 100-day moving average (MA) of 0.9888 later today.

Hourly chart As can be seen above, the corrective bounce called by the bullish divergence of the RSI is struggling to cross the downward sloping (bearish) 50-hour MA. The repeated failure to beat that average could be considered a sign the recovery has ended.


Daily chart The bearish view put forward by the negative RSI divergence on Nov. 13 has gained more credence in the last few days, courtesy of the bearish crossover between the 5- and 10-day MAs, RSI’s move below 50.00 and pair’s drop to a one-month low of 0.9909. Simply put, the bear grip has strengthened in the last few days. As a result, a drop to 100-day MA could be in the offing.

Trend: Bearish

USD/CHF

Overview:
Last Price: 0.9944
Daily change: -8.0 pips
Daily change: -0.0804%
Daily Open: 0.9952

Trends:
Daily SMA20: 1.0027
Daily SMA50: 0.9896
Daily SMA100: 0.989
Daily SMA200: 0.98

Levels:
Daily High: 0.996
Daily Low: 0.9908
Weekly High: 1.013
Weekly Low: 0.999
Monthly High: 1.0096
Monthly Low: 0.9801
Daily Fibonacci 38.2%: 0.994
Daily Fibonacci 61.8%: 0.9928
Daily Pivot Point S1: 0.992
Daily Pivot Point S2: 0.9889
Daily Pivot Point S3: 0.9869
Daily Pivot Point R1: 0.9971
Daily Pivot Point R2: 0.9991
Daily Pivot Point R3: 1.0022

Source: https://www.forexcrunch.com/usd-chf-tec ... est-today/
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Breaking: U.S. Consumer Sentiment Sours More Than Forecast in November

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U.S. Consumer Sentiment Sours More Than Forecast in November

U.S. consumer sentiment declined more than forecast in November as Americans’ views about the economy deteriorated amid rising interest rates and slumping stocks.

The sentiment index dropped to 97.5, the lowest level since August, from the prior month’s 98.6, according to a University of Michigan report Wednesday. The median estimate of economists surveyed by Bloomberg was 98.3, which was also the preliminary reading released earlier this month. The gauge of current conditions decreased to 112.3, while the expectations index slipped to 88.1 -- also three-month lows.

Key Insights
  • A measure of buying conditions for long-lasting goods declined to a three-month low. Positive attitudes toward buying vehicles remained at a five-year low, and favorable home- buying conditions also were at “depressed levels,” according to the report. That doesn’t bode well for sales and orders of durable goods, which have softened in recent months.
  • “While there is no reason to anticipate a sudden change in expectations in the months ahead, consumers have begun to resist rising interest rates on purchases of housing and vehicles,” Richard Curtin, director of the University of Michigan consumer survey, said in a statement.
  • Even so, confidence remains elevated amid the strong job market, improving wages and cheaper gasoline. That may support consumers’ ability to spend heading into the shopping season kicked off by the Thanksgiving holiday weekend.
  • The report also showed inflation expectations for the year ahead edged down to 2.8 percent from 2.9 percent in prior month, while the inflation rate over the next five to 10 years was seen at 2.6 percent compared with 2.4 percent in the October survey.

Source: https://www.bloombergquint.com/onweb/u- ... gs.4fds5xE
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USD/JPY Technical Levels: slips below 113.00 on bearish RSI divergence

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USD/JPY Technical Levels: slips below 113.00 on bearish RSI divergence

  • The USD/JPY pair dipped below 113.00 soon before press time, adding credence to the bearish divergence of the relative strength index (RSI) seen in the hourly chart.
  • The bearish development on the hourly RSI also indicates the recovery rally from the recent low of 112.30 has likely ended.
    The bearish RSI divergence would be invalidated if the pair rises above 113.23.

Hourly Chart
Trend: Bearish

Overview:
Last Price: 112.99
Daily change: -8.0 pips
Daily change: -0.0708%
Daily Open: 113.07

Trends:
Daily SMA20: 113.12
Daily SMA50: 112.9
Daily SMA100: 112.09
Daily SMA200: 110.2

Levels:
Daily High: 113.16
Daily Low: 112.64
Weekly High: 114.22
Weekly Low: 112.64
Monthly High: 114.56
Monthly Low: 111.38
Daily Fibonacci 38.2%: 112.96
Daily Fibonacci 61.8%: 112.84
Daily Pivot Point S1: 112.75
Daily Pivot Point S2: 112.43
Daily Pivot Point S3: 112.23
Daily Pivot Point R1: 113.28
Daily Pivot Point R2: 113.48
Daily Pivot Point R3: 113.8

Source: https://www.fxstreet.com/news/usd-jpy-t ... 1811220235
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USD/JPY extended intraday slide

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USD/JPY extended intraday slide, weakens below mid-113.00s

  • The latest trade-related optimism-led early spike turns out to be short-lived.
  • A heavily offered tone surrounding the USD failed to inspire bullish traders.
  • Risk-on mood/a goodish pickup in the US bond yields does little to lend support.

The USD/JPY pair extended its sharp intraday retracement slide and is currently placed at the lower end of its daily trading range, below mid-113.00s.

The latest optimism over the truce between the world's two largest economies led to a fresh wave of risk-on trade at the start of a new trading week and eventually weighed heavily on the Japanese Yen's safe-haven demand.

The pair opened with a bullish gap and climbed to a multi-day high level of 113.82 in reaction to the news that the US and China have agreed not to impose additional trade tariffs for at least 90 days, rather attempt to bridge the differences via new trade talks.

The pair, however, started losing steam at higher levels in wake of a heavily offered tone surrounding the US Dollar, which failed to find any support from a goodish pickup in the US Treasury bond yields amid firming prospects for a gradual monetary policy tightening cycle.

Moving ahead, today's scheduled speeches by influential FOMC members and the release of US ISM manufacturing PMI will now be looked upon for some fresh impetus later during the early North-American session.

Technical outlook
Valeria Bednarik, FXStreet's own American Chief Analyst explains: “The pair has spent the last 4 weeks inside a well-limited 200 pips' range, unable to extend gains beyond the 114.00 figure beyond a couple of short-lived spikes. The base of the range is 112.30, the low set on November 20. In the daily chart, the 100 DMA comes at 112.25, reinforcing the support area and indicating an increased downward potential on a break below the level.”

Source: https://www.fxstreet.com/news/usd-jpy-e ... 1812030939
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USDCHF: put value hits 6-month lows

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USD/CHF: put value hits 6-month lows, points to more pain

Risk reversals on USD/CHF, a gauge of call options (bullish bets) to put options (bearish bets), plunged to six-month lows yesterday, indicating investors are adding bets to position for further strength in the safe haven Swiss Franc (CHF).

One-month 25 delta risk reversals (CHF1MRR) dropped to -0.675 in favor of puts on Tuesday - its lowest level since June 14. Notably, the gauge stood at -0.35 on Nov. 15.

The negative number indicates that the implied volatility premium (or the demand) for the USD/CHF puts (CHF calls) is higher than that for the USD/CHF calls (CHF puts).

The USD/CHF is currently trading at 0.9925, having charted a bullish candle at the 100-day MA yesterday. The rising demand for the put options, however, indicates the long-term MA support of 0.9888 could be breached soon.

CHF1MRR
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