Intraday Forex Wednesday, August 28 (USDJPY, EURUSD, & etc.) The dollar tumbled after U.S. consumer confidence data showed to the lowest in six years.

This observation is made around 3:30 UTC. The Resistance and Support Line were constructed according to Fibonacci retrenchment. Any discussion is welcomed.

Stocks in Asia Pacific were mixed in Wednesday morning trade, following a mixed Wall Street lead as markets cheered signs of progress in U.S.-Sino trade negotiations, though remained cautious about the broader economic outlook.

Trading volume was typically low for late August and investors await a speech by Federal Reserve Chairman Jerome Powell on Thursday when he is expected to address the U.S. central bank’s view on inflation and monetary policy. I also does analysis for some other currencies.

I also does analysis for some other currencies. Read more on the website on TECHNICAL ANALYSIS and DAILY MARKET NEWS.

[USDJPY]

  • The dollar managed to hold onto slim gains against the yen, last trading at 106.448 due to a slight rise in long-term U.S. Treasury yields.
  • Both Stochastic and RSI oscillator is within the normal ranges of 50.
  • The MACD is trading below its signal line and positive.

Important Levels to Watch for Today:

  • Resistance line of 106.726 and 107.008.
  • Support line of 105.814 and 105.532.
USDJPY

[EURUSD]

  • Against the euro, the dollar stood at $1.1818 in Asia on Wednesday following a 0.4% decline in the yesterday session.
  • Stochastic indicator entering the undervalued range, with RSI oscillators also edged toward the range.
  • The MACD is trading below its signal line and negative. The configuration is negative.

Important Levels to Watch for:

  • Resistance line of 1.18579 and 1.18816.
  • Support line of 1.17814 and 1.17578.
EURUSD

[USDCHF]

  • The dollar bought 0.9089 Swiss franc, close to the lowest in more than five years against the safe harbour currency.
  • Stochastic indicator entering the overvalued range, with RSI oscillators also edged toward the same range.
  • The MACD is trading above its signal line and positive. The configuration is positive.

Important Levels to Watch for:

  • Resistance line of 0.91298 and 0.91551.
  • Support line of 0.90481 and 0.90229.
USDCHF

[GBPUSD]

  • Sterling was last trading at $1.3134, down 0.12% on the day, relatively managed to shrug off a lack of progress in Brexit trade negotiations between Britain and the European Union.
  • Stochastic indicator entering the undervalued range, with RSI oscillator also edged toward the same range.
  • The MACD is trading below its signal line and negative. The configuration is negative.

Important Levels to Watch for:

  • Resistance line of 1.31964 and 1.32403.
  • Support line of 1.30543 and 1.30103.
GBPUSD

For analysis of of other currencies and other insight into the market, read more on the WEBSITE or click TECHNICAL ANALYSIS and DAILY MARKET NEWS.

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Chief Analyst at Golden Brokers. https://goldenbrokers.my/en/blog

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Zulbahri Muhammad

Zulbahri Muhammad

Chief Analyst at Golden Brokers. https://goldenbrokers.my/en/blog

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