Analytic reviews

AUDUSD

The pair is still under pressure amid growing concern over the world economy slowing down because of the trade wars and the decreasing demand for risk assets.

The price is below the lower Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold zone and is moving down. Stoch are also reversing downwards, passing the level of 50%.

Trading recommendations:

The pair is expected to continue falling to 0.7100 after passing 0.7165 and taking hold below this level.

AUDUSD

The pair is still under pressure against the backdrop of the escalating trade war between the US and China which may have a negative influence on Australia’s export to China.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold zone and is moving down. Stoch are also reversing downwards passing the level of 50%.

Trading recommendations:

The pair is expected to continue going down to 0.7100 after passing the level of 0.7165.

GBPUSD

The pair is under pressure and is below 1.2855 not only due to the concerns over Theresa May’s inability to solve the Brexit crisis, but also due to the vocal indicators of slowed economic growth in the country.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold zone and is reversing downwards.

Trading recommendations:

The pair is expected to fall to 1.2800 with a prospect of moving further down to 1.2700.

GBPUSD

The pair is below the level of 1.2855 as Theresa May’s Cabinet is deemed unable to solve the Brexit crisis.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold zone and is moving down. Stoch are also falling in this zone.

Trading recommendations:

If the pair breaches 1.2855, the price may go further down to 1.2800.

AUDUSD

The pair is below 0.7200 as the world economy is feared to be unable to continue growing against the background of the trade wars started by the US. Another negative factor for the pair is the released PMI data in China which showed a decline from 50.8 to 50.6 in August.

The price is below the middle Bollinger line, above SMA 5, but below SMA 14. RSI is in the oversold zone. Stoch indicate a possible upward reversal.

Trading recommendations:

The price’s inability to grow above 0.7200 may result in its returning down to 0.7100.

EURUSD

While trading above the 1.1650 level, the pair remains under pressure caused by the risk of Turkey debt crisis spreading to Europe.

The price is lower than the middle Bollinger band, higher than SMA 5 but lower than SMA 14. RSI resides below the 50% level and moving horizontally. Stoch signal a possible upward turn.

Trading recommendations: 
If the price falls below the 1.1650 level, it may cause the further decline to 1.1600.

USDCAD

The pair is trading within a narrow range before the US and Canada negotiations on NAFTA. If the agreement is reached, the price is expected to continue falling. If the two parties don't come to an agreement, a local rise can be expected.

The price is below the middle Bollinger band, higher than SMA 5 but lower than SMA 14. RSI resides above the oversold zone. Stoch signal a possible reverse upward.

Trading recommendations: 
If the price falls lower than 1.2900 it can lead to a fall down to 1.2830. A rise above 1.2935 may result in the pair reaching as high as 1.2985.

USDCAD

The pair is trading above the 1.2955 level. It is supported by the increasing oil prices and the hopes and the US and Canada will come to a new trade agreement. The markets are also expecting the Bank of Canada to increase the interest rates in September.

The price is lower than the middle Bollinger band, at the SMA 5 level and under the SMA 14. RSI resides above the oversold zone. Stoch are inside that zone.

Trading recommendations: 
The pair has the potential to fall locally down to 1.2900 after breaching the 1.2955 level.

EURUSD

The pair is reversing down after the Friday's rise that happened after Powell's speech in Jackson Hole. The problem of trade wards and the possibility of debt crisis spreading to Italy will probably put the Euro under pressure. 

The price is higher than the middle Bollinger band but lower than SMA 5 and still higher than SMA 14. RSI has reversed downwards. Stoch also signal to SELL.

Trading recommendations: 

If the price falls lower than 1.1600, it may fall locally down to 1.1500.

AUDUSD

The pair is correcting downwards amid profit taking and the hopes that the US and China will reach a compromise. We believe that the possibility of such an outcome is quite low, hence the pair may continue falling.

The price is lower than the middle Bollinger band, higher than SMA 5  but lower than SMA 14. RSI signals a weakening of the upward movement. Stoch are still rising.

Trading recommendations: 

We believe the pair should be sold while it is rising from 0.7300 with the target level of 0.7240 and considering the possible fall to 0.7195.