USD Overview

Last Friday, USD strengthened against most major currencies except NZD and JPY.

The U.S. Preliminary UoM Consumer Sentiment data (Actual: 78.9, Forecast: 75.0, Previous: 74.1 revised from 72.8) released last Friday indicated an improved sentiment from the surveyed consumers on their personal finances and business conditions.

Federal Reserve Chairman Jerome Powell will be speaking along with the other board members later at 2200 (SGT). During this time, there may be volatility in USD.


NZD/USD Outlook

Overall, NZD/USD is trending upwards.

Currently, NZD/USD is testing the resistance zone of 0.67600 and the next support zone is at 0.65200.
Look for buying opportunities of NZD/USD if it breaks the resistance zone of 0.67600.


AUD/USD Outlook

Overall, AUD/USD is ranging across.

AUD/USD’s next support zone is at 0.72500 and the next resistance zone is at 0.73800.
Look for buying opportunities of AUD/USD.


USD/JPY Outlook

Overall, USD/JPY is trending downwards. Recently, USD/JPY trended into the support zone of 104.400.

The Japanese banks will be closed today in observance of Respect-for-the-Aged Day. Lower trading volume and volatility is expected during the Japanese trading hours.
The Japanese banks will also be closed tomorrow in observance of Autumnal Equinox Day.

Currently, USD/JPY is testing the support zone of 104.400 and the next resistance zone is at 105.400.
Look for selling opportunities of USD/JPY if it breaks the support zone of 104.400.


EUR/USD Outlook


Overall, EUR/USD is ranging across.

EUR/USD’s next support zone is at 1.17800 and the next resistance zone is at 1.19700.
Look for buying opportunities of EUR/USD.


GBP/USD Outlook

Overall, GBP/USD is trending downwards. Recently, GBP/USD is ranging across.

The UK Retail Sales m/m data (Actual: 0.8%, Forecast: 0.8%, Previous: 3.7% revised from 3.6%) released last Friday indicated a slowdown in consumer spending in August.

Currently, GBP/USD is moving towards the resistance zone of 1.30000 and the next support zone is at 1.28000.
Look for selling opportunities of GBP/USD if it bounced off the resistance zone of 1.30000.


USD/CAD Outlook

Overall, USD/CAD is ranging across. Recently, USD/CAD bounced down from the key level of 1.32.

The Canadian Retail Sales m/m data released last Friday indicated a strong decline in consumer spending in July.

  • Core Retail Sales m/m (Actual: -0.4%, Forecast: 0.5%, Previous: 15.5% revised from 15.7%)
  • Retail Sales m/m (Actual: 0.6%, Forecast: 0.8%, Previous: 22.7% revised from 23.7%)

USD/CAD’s next support zone is at 1.30000 and the next resistance zone is at 1.32300.
Look for selling opportunities of USD/CAD.


GBP/JPY Outlook

Overall, GBP/JPY is trending downwards. Recently, GBP/JPY bounced off the resistance zone of 136.200.

The UK Retail Sales m/m data (Actual: 0.8%, Forecast: 0.8%, Previous: 3.7% revised from 3.6%) released last Friday indicated a slowdown in consumer spending in August.

The Japanese banks will be closed today in observance of Respect-for-the-Aged Day. Lower trading volume and volatility is expected during the Japanese trading hours.
The Japanese banks will also be closed tomorrow in observance of Autumnal Equinox Day.

Currently, GBP/JPY is moving towards the key level of 135. Its next support zone is at 133.780 and the next resistance zone of 136.200.
Look for selling opportunities of GBP/JPY.


EUR/JPY Outlook

Overall, EUR/JPY is trending downwards. Recently, EUR/JPY broke below the key level of 124.

The Japanese banks will be closed today in observance of Respect-for-the-Aged Day. Lower trading volume and volatility is expected during the Japanese trading hours.
The Japanese banks will also be closed tomorrow in observance of Autumnal Equinox Day.

EUR/JPY’s next support zone is at 121.700 and the next resistance zone is at 124.600.
Look for selling opportunities of EUR/JPY.


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By Jin Dao Tai

JinDao Tai is an Entrepreneur, Award-Winning Forex Coach & Trainer, International Speaker and Multi-Million Dollar Trader. Starting out his career as an economic & financial consultant in Australia, one day he decided to change his life and pivoted into multiple entrepreneurship endeavours and eventually into managing a multi-million dollar portfolio.

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