Daily Analysis Forex Mix

[radex78]

EURGBP turbulence to low 0.84256, Claimant Count Change lower than forecast

EURGBP fell yesterday drawing a bearish candle with a long shadow on the top candle. Price formed a high of 0.84470 and a low of 0.84226.

There is a gap in today's candlestick change where the open price at 0.84186 is lower than the previous closing price.

Yesterday the Claimant Count Change data which measures people claiming unemployment showed the actual data at 23.7k, much lower than the expected 95.5k and the previous revision of 102.3k.

The actual data which is lower than the forecast is theoretically good for the GBP currency, and it seems that the stable German Final GDP data is not able to encourage the strengthening of the Euro.

Today, there is news related to the GBP currency that is expected to trigger volatility. The main focus is on GDP with a forecast of 0.2% higher than the previous data revision of 0.0%.

Apart from GDP news, there are also Construction output, goods trade balance, index of services, industrial production and manufacturing production.

EURGBP D1

EURGBP price is now moving below the middle band line. BB line draws a downward channel with wide band spacing indicating a high volatility market.

MA 200 below the upper band line draws a descending channel indicating a market downtrend.

The TDI indicator's VB high shows a value of 71 and VB low shows a value of 29. The difference of 42 reflects the high volatility value of EURGBP in the D1 timeframe.

The Market Base Line shows a value of 50 with a flat channel, meaning the price is in the neutral zone.

The RSI price line pointing to a value of 39 crossing the TSL from the upside indicates a downtrend signal.

Trade Signal Line points to a value of 40 with an upward channel indicating an uptrend market.

EURGBP H4

EURGBP price is now moving near the lower band line. Bollinger band squeeze appears in this time frame indicating the market is in low volatility moving sideways.

The 200 MA above the upper band line draws a flat channel indicating a flat market with more declines.

The TDI indicator's VB high points to a value of 60 and VB low points to a value of 44. The difference of 26 reflects the low volatility of EURGBP in the H4 timeframe.

Market Base Line shows a value of 52 with a flat channel, meaning the weight of bullish is greater than bearish.

The RSI price line pointing to a value of 41 crossing the TSL and MBL from the upside indicates a downtrend signal.

The Trade Signal Line shows a value of 50 crossing the MBL from the upper side indicating a downtrend market.

 

[radex78]

Silver prices are up but still within a range

In yesterday's trading session, Silver rose drawing a bull candle with a long body with on top and bottom candle wicks. This precious metal is often positively correlated with gold, but sometimes the two have anomalous differences. Some traders take advantage of this correlation to hedge.

In this week's trading, the Silver price tried to rise after two weeks of a downward trend, three Silver lines drew bulls candles below the middle band line but were still in the price range of 27,600 - 29,100. The countries that import the most silver are the US, Canada, Hong Kong, the UK, and Türkiye. Paying attention to these countries' economic development could be useful.

Yesterday the US core CPI data was higher than expected, the actual data was 0.3% from the expected 0.2%, while the CPI month-to-month and CPI year to year were relatively the same as expected, cooler than the previous year.

Silver price fluctuations were high in response to the CPI release, rising from a low of 28,059 to a high of 28,714. The market seems to be still waiting for the Fed to cut interest rates at the September 17-18 meeting. Whether the Fed cuts interest rates by 25 bps or 50 bps is debated. According to the Fedwatch tool from the CME Group, the forecast for the Fed to cut interest rates by 50 bps falls to 15% while the forecast for a 25 bps cut rises to 85%.

Today investors will focus on US PPI data and unemployment claims. Core PPI is expected to be 0.2% from the previous revision of 0.0% and unemployment claims are expected to be the same 227k as the previous revision.

XAGUSD D1

The price of Silver is now at around 28.71 moving below the middle band line, this week Silver is trying to rise after falling last week. The Bollinger band deflates on the daily timeframe, indicating a decrease in market volatility.

The 200 MA is far below the lower band drawing a slight upward channel indicating a weak market uptrend.

The TDI indicator's VB high shows a value of 60 and VB low shows a value of 33. The difference of 27 reflects Silver's low volatility in the D1 timeframe.

Market Base Line points to a value of 47 with a flat channel, meaning the weight of bearish is greater than bullish.

The RSI price line points to a value of 49 across the TSL and MBL from the lower side of the uptrend index.

The trade signal line points to the value 47 with a flat channel indicating neutral.

XAGUSD H4

Silver prices in this time frame move below the upper band line. Flat Bollinger bands with fairly wide band spacing indicate medium market volatility.

MA 200 is slightly below the price drawing a flat channel indicating a sideways market is in range.

The VB high TDI indicator shows a value of 62 and VB low shows a value of 36. The difference of 26 reflects Silver's low volatility in the H4 timeframe.

Market Base Line points to a value of 49 with an upward channel, meaning bearish weight is greater than bullish with potential for reversal.

The RSI price line shows a value of 57 which has crossed the MBL and TSL from the lower side, indicating an uptrend market.

The trade signal line pointing to the value 55 has crossed the MBL from the lower side indicating an uptrend.

 

[radex78]

Gold set a new record high after releasing PPI data and jobless claims.

After moving in a trading range for several weeks, gold prices finally broke out, and a new all-time high printed yesterday. Price draws a bullish long body candlestick with almost no shadow. Price drew a high of $2559 with a low of $2510.

According to the U.S. Bureau of Labor Statistics, The Producer Price Index for final demand increased 0.2 percent in August. Prices for final demand services increased 0.4 percent, and the index for final demand goods was unchanged. Prices for final demand advanced 1.7 percent for the 12 months ending in August.

Meanwhile, Unemployment Claims data showed an increase of 230k, higher than the expected 227k, with a revision of the previous data of 228k. This lower value does not support strengthening the US Dollar because the number of unemployed people is an important signal of overall economic health due to consumer spending is highly correlated with labor-market conditions.

On the other hand, China's second quarter gold reserves according to tradingeconomics were 2.28K tons, the same number as the first quarter of 2024 but higher than the fourth quarter of 2023. In the Chinese market, gold is showing a rise.

Meanwhile, according to the FedWatch tool from the CME Group, the forecast for the Fed cutting interest rates by 25 bps is down by 72% and a cut by 50 bps is up by 28%. The Fed is expected to cut interest rates on September 18.

XAUUSD D1

Gold price ended its consolidation phase yesterday after breaking a high and drawing a new all-time high at $2559. The price is now outside the upper band indicating a strong rally. The BB line is starting to expand after yesterday's strong rise.

The 200 MA is far below the lower band drawing an upward channel indicating an uptrend market.

The TDI indicator's VB high shows a value of 67 and VB low shows a value of 50. The difference of 17 reflects the low volatility value in the D1 timeframe.

Market Base Line points to a value of 59 with a slight upward channel, meaning the weight of bullishness is greater than bearish.

The RSI price line points to a value of 66 crossing the TSL and MBL from the lower side indicating an uptrend near the overbought zone.

Trade Signal line pointing at the value 59 drawing an ascending channel crossing the MBL from the downside indicates an uptrend.

XAUUSD H4

The price of gold in this time frame is now outside the upper band line, the price managed to break the upper band line at around $2524 and reached a new record high of $2559. Expanding Bollinger bands indicate a high volatility market where there has been a high deviation from the mean.

MA 200 below the lower band draws an upward channel indicating an uptrend market.

The VB high TDI indicator shows a value of 73 and the VB low shows a value of 41. The difference of 32 reflects the fairly high volatility of gold in the H4 timeframe.

Market Base Line points to a value of 57 with an upward channel, meaning the weight of bullish is greater than bearish.

The RSI price line shows a value of 77 crossing the MBL and TSL from the lower side, indicating that the price uptrend has entered the overbought zone.

The trade signal line points to a value of 67 with an upward channel indicating an uptrend market.

 

[radex78]

CHFJPY extended its decline at the end of the week by drawing a long body bearish candlestick with almost no shadow. Price drew a high of 166.655 and a low of 165.565 at the FXOpen chart. This extends the bearish sentiment of the CHFJPY pair since September 3 with its up and down wave fluctuations.

CHFJPY price broke the lower band on September 6, an indication that market volatility is starting to increase. In 52-week trading, the CHFJPY price range is in the range of 159.98 - 180.06. This pair is one of the popular cross pairs and may be quite interesting considering its high volatility. However, as a cross-currency pair traders may consider the spread fee.

The current SNB interest rate is 1.50% which was released in June from the previous 1.50%, the SNB's highest interest rate is 1.75% since 2023 and has been cut twice from 1.50% to 1.25%. This month traders will wait for the SNB and BOJ interest rate policies which may affect currency values.

The BOJ interest rate is now at 0.25%, the highest since the negative interest rate policy ended. The BOJ exited negative interest rates in April 2024 with an interest rate of 0.10% which then rose to 0.25% in July, and this month traders will wait for the BOJ's policy on interest rates.

Economic news that may be of concern to CHFJPY pair traders today is Swiss PPI data which is expected to rise 0.1% from the previous data revision of 0.1%. Meanwhile, the Bank Holiday in Japan is the Respect for the Aged Day. This may affect JPY currency transactions. Apart from banks in Japan, bank holidays are also held in China to commemorate the Mid-Autumn festival.

CHFJPY D1

CHFJPY price in this time frame is moving near the lower band line. The expanding BB line reflects high market volatility.

The 200 MA draws a flat channel above the middle band indicating a sideways market. The 50 MA above the 200 MA draws a descending channel indicating a market downtrend.

The TDI indicator's VB high points to a value of 51 and VB low points to a value of 21. The difference of 30 reflects the medium volatility value of CJFJPY in the D1 timeframe.

Market Base Line shows a value of 38 with a flat channel, meaning the weight of bearish is greater than bullish.

The RSI price line shows a value of 26 crossing the TSL and MBL from the upper side indicating a downtrend entering the oversold zone.

The trade signal line pointing to the value 31 crosses the MBL from the upside indicating a downtrend.

CHFJPY H4

CHFJPY price is now moving near the lower band line. BB line draws a descending channel with wide band spacing indicating a downtrend with high volatility.

The 200 MA above the upper band draws a descending channel indicating a downtrend. MA 50 below MA 200 draws a descending channel indicating a downtrend.

The TDI indicator's VB high shows a value of 39 and VB low shows a value of 24. The difference of 15 reflects the low volatility of CHFJPY in the H4 timeframe.

Market Base Line shows the value 31 with a flat channel, meaning the weight of bearish is greater than bullish.

The RSI price line shows a value of 30 crossing the MBL from the upper side indicating a downtrend entering the oversold zone.

Trade Signal Line points to a value of 30 with a flat channel indicating a sideways market.

 

[radex78]

EUR/USD rose across the middle band on hopes of the Fed lowering interest rates

EUR/USD price on Monday continued its rise after ending consolidation near the middle band line. Bank holidays in Japan and China don't seem to have much influence on the EURUSD market and the volatility market remains high.

EUR/USD price rose forming a long-body bullish candlestick with almost no shadow reflecting significant gains with little selling pressure.

The Fed, according to the economic calendar schedule Forexfactory, will announce its interest rate policy on September 19 which is expected to fall to 5.25% from the previous 5.50%.

Meanwhile, according to the Fedwatch tool from the CME group, the potential for the Fed to cut interest rates by 50 bps has increased by 67%, while the potential for a 25 bps cut has fallen to 33%. This change was caused by US economic data last week which strengthened hopes that the Fed might surprise the market with a 50 bps cut.

Today the important economic data that investors are focusing on is US retail sales. Core retail sales are expected to fall 0.2% from the previous revised 0.4%, and retail sales are expected to be -0.2% from the previous 1.0% to be released by the US Census.

EURUSD D1

EUR/USD price is now in the range of 1.11276 above the middle band line. Price tries to move away from the means to deviate further. BB line draws a flat channel with wide band spacing indicating high volatility amidst range trading.

The 200 MA far below the lower band draws a flat channel indicating a sideways market, and the 50 MA near the lower band draws an upward channel indicating an uptrend. The Golden Cross MA occurred in August and there is no sign of a reversal of the long trend.

The VB high TDI indicator points to a value of 74 and the VB low points to a value of 46. The difference of 28 reflects the medium volatility of EUR/USD at D1 timeframe.

Market Base Line shows a value of 60 with a flat channel, meaning the weight of bullish is greater than bearish.

The RSI price line shows a value of 59 crossing the TSL from the lower side indicating an uptrend market.

The trade signal line points to a value of 52 with a flat channel indicating a sideways market.

EUR/USD H4

EUR/USD price is moving near the upper band line. BB line expands indicating high market volatility.

MA 200 below the middle band line draws an upward channel indicating an uptrend market. MA 50 near the middle band is starting to draw an upward channel indicating an uptrend market.

The VB high TDI indicator shows a value of 74 and the VB low shows a value of 24. The difference of 50 reflects the high volatility of EURUSD in the H4 timeframe.

Market Base Line points to a value of 49 with an upward channel, meaning the weight of bearish is greater than bullish.

The RSI price line pointing to a value of 71 has crossed the MBL and TSL from the lower side indicating an uptrend entering the overbought zone.

The trade signal line pointing to the value 68 has crossed the MBL and started drawing a flat channel indicating uptrend to fade.

 

[radex78]

US retail sales data brings gold pullback

After reaching a record high, gold was reluctant to continue its rise ahead of the Fed's meeting to cut interest rates this week. Gold prices yesterday fell to a low of $2560 from a high of $2586 after the US released retail sales data.

US Retail Sales rose 0.1% in August monthly, compared to a revised 1.1% increase recorded in July. However, this was above consensus expectations of a fall of 0.2%, according to data from the US Census Bureau.

US Retail Sales excluding Autos, meanwhile, rose 0.1% after a 0.4% rise in July. This was below the forecast of a rise of 0.2%.

The retail sales data does not seem to support the strengthening of the dollar, but the impact on gold is different.

Gold prices briefly soared to a new all-time high of $2,589 as bets on the Fed cutting double interest rates increased. According to the FedWatch tool from the CME group, the probability of the Fed cutting interest rates by 50 basis points rose by 67% while the probability of a cut by 25 basis points fell by 37%.

In theory, the Fed's interest rate cut will provide support for gold as a non-yielding asset. Many analysts provide bullish support for gold, one of which is Michaël van de Poppe, Founder of MN Consultancy, who predicts a 10 year bullish commodity market including gold.

Today there are no high impact news releases in the economic calendar, but investors will probably consider US Building Permits data which measures permits for building new residential buildings which is estimated at 1.41M from the previous revised data of 1.40M.

XAUUSD D1

The price of gold is around $2570 moving below the upper band line. Yesterday the gold price drew a bearish candlestick with small shadows on the top and bottom of the candle. Gold price formed a high of $2586, a low of $2560, an open of $2581 and a close of %2568. The previously expanding BB line starts to draw a flat channel indicating reduced volatility.

The 200 MA is far below the lower band drawing an upward channel indicating a bullish market.

The TDI indicator's VB high shows a value of 69 and VB low shows a value of 50. The difference of 19 reflects the low volatility value of gold in the D1 timeframe.

Market Base line shows a value of 60 with a flat channel, meaning the weight of bullish is greater than bearish.

The RSI Price line points to a value of 65 with a descending channel indicating a downtrend away from the overbought zone.

The Trade Signal Line pointing to the value 64 has crossed the MBL from the downside with an upward channel indicating an uptrend market.

XAUUSD H4

Gold price moves below the middle band line. A deflated BB line indicates reduced volatility, the pullback seems to be fading.

The 200 MA is far below the lower band line drawing an upward channel indicating an uptrend market.

The TDI indicator's VB high shows a value of 84 and VB low shows a value of 50. The difference of 34 reflects the high volatility value of gold in the H4 timeframe.

Market Base Line shows a value of 67 with a flat channel, meaning the weight of bullish is greater than bearish.

The RSI price line shows a value of 56 which has crossed the TSL and MBL from the upper side indicating a downtrend market.

The trade signal line pointing to the value 61 has crossed the MBL from the upside with a downward channel indicating a market downtrend.

 

[radex78]

Markets are volatile the Fed cuts interest rates in half including NZDUSD

The Fed finally cut interest rates by 0.50%, higher than the forecast of 0.25%, so that the Fed interest rate is now 5.00%.

The market looks volatile in response to the Fed's interest rate data, all currency pairs with the USD are experiencing turbulence. Gold briefly soared to $2600 but fell again to around $2547. Other currency pairs such as EUR/USD, and GBP/USD experienced similar conditions, rising then falling.

The NZD/USD pair also experienced turbulence after the Fed cut interest rates, this pair drew a bullish candlestick with a long wick on the top candle indicating that a strong rally came under high selling pressure. Yesterday's price formed a low of 0.61809 and a high of 0.62769 closing at 0.62085. The price soars up and then back to the starting point near the middle band line.

Looking for fresh insights into the health of New Zealand's economy, investors will focus on second-quarter Gross Domestic Product (GDP) data, which will be published later today. Zealand's GDP is predicted to fall -0.4% from the previous 0.2%, if the actual data is higher than the forecast it is expected to be good for NZD.

However, investors are also paying attention to US data, especially the FOMC economic projections and Unemployment Claims, which are predicted to be 230k, the same as the previous revision of 230k.

NZDUSD D1

Examining the NZD/USD pair technically, now the price is moving near the middle band line. This is the mean line of price deviation based on the Bollinger band. Price often consolidates at this line. Bollinger bands are starting to draw a flat channel with slightly narrowing bands, indicating that high volatility is starting to decrease.

The 200 MA near the lower band line draws a flat channel indicating a sideways trend with a bullish trend.

The TDI indicator's VB high shows a value of 71 and the VB low shows a 44. The difference of 27 reflects moderate volatility in the D1 timeframe.

Market Base Line points to a value of 57 with an upward channel, meaning the weight of bullish is greater than bearish.

The RSI price line shows a value of 57 crossing the TSL from the lower side indicating an uptrend market.

The Trade Signal Line pointing to the value 54 has crossed the MBL from the downside with an upward channel indicating an uptrend market.

NZD/USD H4

NZD/USD price in this time frame moves above the middle band line. Bollinger bands draw an ascending channel with rather narrow band spacing indicating bullishness with low volatility.

MA 200 below the lower band draws an upward channel indicating an uptrend market.

The TDI indicator's VB high shows a value of 66 and VB low shows a value of 40. The difference of 26 reflects the value of moderate volatility in the H4 timeframe.

Market Base Line points to a value of 53 with an upward channel, meaning the weight of bullish is greater than bearish.

The RSI price line shows a value of 58 crossing the TSL from the upside indicating a downtrend.

Trade Signal Line shows the value 59 with an upward channel above the MBL indicating an uptrend.

 

[radex78]

USDJPY moves below the middle band ahead of the BoJ policy rate

USDJPY yesterday drew a bullish small body candlestick with a long wick on the top candle indicating the price had reached 143,937 and closed at 143,606. A UOB group analyst predicts USDJPY could test the 144.00 resistance which could trigger a rise towards 145.50.

The Japanese Yen weakened yesterday even though the Fed had cut interest rates by 50 basis points on Wednesday which caused market turmoil including USDJPY. Yesterday's FOMC and unemployment claims supported the strengthening of the US dollar as one of the reasons for the weakening of the Japanese Yen.

Fed policymakers raised their long-term projection for the Federal Funds rate from 2.8% to 2.9%. Meanwhile, the actual Unemployment Claims data was 219k smaller than the forecast 230 from the previous revision of 231k.

Today traders will focus on the BoJ interest rate forecast unchanged at 0.25% with an eye on the potential for future interest rate increases in the monetary policy statement.

USDJPY D1

USDJPY moved below the middle band line, the price crossed the line but came under pressure and returned to the previous track. The BB line draws a descending channel with rather wide band spacing indicating a downtrend with moderate volatility.

The 200 MA above the upper band draws a flat channel indicating sideways, and the 50 MA has given a death cross signal which is a possible bearish signal.

The TDI indicator's VB high points to 44 and VB low points to 24. The difference of 20 reflects USDJPY's low volatility in the D1 timeframe.

Market Base line shows a value of 34 with a flat channel, meaning the weight of bearish is greater than bullish.

The RSI price line pointing at 41 with a flat channel crossing MBL and TSL from the downside indicates that the uptrend may be fading.

The trade signal line pointing to the value 36 crossing the MBL from the downside indicates a weak uptrend.

USDJPY H4

USDJPY price moves below the upper band line. BB Line draws an upward channel with wide band spacing indicating an uptrend in a high volatility market.

The 200 MA above the upper band draws a flat starting channel indicating a possible trend transition. The 50 MA is below the 200 MA with the channel starting to flatten, reflecting the market downtrend may be fading.

The TDI indicator's VB high points to a value of 65 and VB low points to a value of 27. The difference of 38 reflects the high volatility value of USDJPY in the H4 timeframe.

Market Base Line points to a value of 46 with an upward channel, meaning the weight of bearish is greater than bullish.

The RSI price line shows a value of 54 crossing the TSL from the upside indicating a downtrend.

The trade signal line is pointing at the value 61 with the channel starting flat indicating the uptrend may be fading.

 

[radex78]

Gold hit a new record high on hopes of global central banks cutting interest rates.

On Friday the price of gold surged to reach a new record high of $2625 on the FXOpen platform. With the soaring gold price in addition to the Fed's policy of cutting interest rates, there is also hope that global central banks follow the Fed's policy of easing policy.

Several global central banks have lowered interest rates, such as the South African Reserve Bank (SARB) reduced its benchmark interest rate by 25 basis points, and the Central Bank of the Philippines reduced its interest rate by 250 bp to 7.0%. Meanwhile, the Reserve Bank of India (RBI) is expected to cut interest rates at its next meeting.

The Bank of Japan left interest rates unchanged with some speculating a rate hike is on the way. The People's Bank of China (PboC) also kept interest rates unchanged at 3.35%.

Goldman Sachs Research forecasts gold prices could reach $2,700 at the start of the year on the back of Fed interest rate cuts and gold purchases by developing country central banks, and growing concerns about the US debt burden.

Geopolitical risk factors also support gold as a safe-haven asset amidst global economic uncertainty and anticipation in the event of a major third world war. Countries such as China, Taiwan, Russia, Europe, and the Middle East are currently making massive purchases of gold as a safe-haven asset.

Today the Japanese bank holiday may affect market liquidity, but traders are also paying attention to US manufacturing PMI and service PMI news.

XAUUSD D1

Gold prices are now hovering near the upper band line and taking a breather after a strong rally at the weekend. Expanding Bollinger bands indicate high volatility.

The 200 MA is far below the lower band drawing an upward channel indicating an uptrend market.

The VB high TDI indicator shows a value of 70 and VB low shows a value of 52. The difference of 18 reflects the low volatility value of gold in the D1 timeframe.

The Market Base Line shows a value of 61, meaning the weight of bullish is greater than bearish.

The RSI price line points to a value of 72 crossing the TSL from the lower side indicating an uptrend entering the overbought level zone.

The trade signal line points to the value 68 drawing an upward channel indicating an uptrend market.

XAUUSD H4

Gold price in the H4 timeframe moves near the upper band line and pauses at market opening. Expanding Bollinger bands indicate high market volatility.

The 200 MA is far below the lower band drawing an upward channel indicating an uptrend market.

The TDI indicator's VB high shows a value of 82 and VB low shows a value of 47. The difference of 35 reflects rather high volatility in the H4 timeframe.

Market Base Line points to a value of 65 with a flat channel, meaning the weight of bullish is greater than bearish.

The RSI Price Line shows that the value 72 has crossed the TSL and MBL from the lower side, indicating that the uptrend market has entered the overbought level zone.

The trade signal line points to a value of 67 crossing the MBL from the lower side indicating an uptrend market.

 

[radex78]

AUD/USD strengthens ahead of RBA policy on the horizon

Yesterday the AUDUSD currency pair drew a bullish candlestick with a short shadow at the top of the candle indicating the strengthening of the Australian dollar against the US dollar. Price formed a high of 0.68537, a low of 0.67960, close at 0.69374.

The performance of the Australian dollar strengthened ahead of the RBA making its interest rate policy decision today. Analysts forecast that the RBA will keep interest rates unchanged at 4.35% with inflationary pressure remaining as expected and job growth optimistic.

Therefore, investors will pay more attention to RBA officials' statements to get clues about future policy by looking at hawkish or dovish statements.

On the other hand, the Fed is predicted to make cuts in November. According to the CME group's FedWatch tool, the forecast for a 50 basis point cut is 49.5% and the forecast for a 25 basis point cut is 50.5%. Meanwhile, in a Reuters poll, 100 economists predicted the Fed would cut interest rates by 25 basis points.

On the other hand, US manufacturing PMI data showed data of 47.0 lower than the predicted 48.6 from the previous revision of 47.9. Meanwhile, the services PMI showed actual data of 55.4, higher than the forecast of 55.3 but still below the previous revision of 55.7.

Today, apart from the market highlighting the RBA interest rate, it is also paying attention to The Conference Board (CB), which assesses consumer financial confidence which is forecast to rise to 103.9 from the previous 103.3.

AUDUSD D1

AUDUSD price is now moving below the upper band line on the daily timeframe. Bollinger bands with a slightly expanding flat channel are an indication of increasing volatility.

The 200 MA below the lower band line draws a flat channel, and the 50 MA above the 200 MA indicates a more bullish market.

The VB high TDI indicator points to a value of 71 and the VB low points to a value of 44. The difference of 27 reflects the rather high volatility value of the AUDUSD pair in the D1 timeframe.

Market Base Line points to a value of 57 with an upward channel, meaning the weight of bullish is greater than bearish.

The RSI price line points to a value of 65 crossing the TSL and MBL from the lower side indicating an uptrend approaching the overbought zone.

Trade signal line points to the value 61 across the MBL from the lower side indicating an uptrend market.

AUDUSD H4

The price of the AUDUSD pair in the H4 timeframe is now moving below the upper band line. Bollinger bands draw an ascending channel with wide band spacing indicating quite high market volatility.

MA 200 below the lower band draws an upward channel, and MA 50 above MA 200 with an upward channel indicates the market is more bullish.

The TDI indicator's VB high shows a value of 69 and VB low shows a value of 56. The difference of 13 reflects the low volatility value of the AUDUSD pair in the H4 timeframe.

Market Base line shows a value of 63 with a flat channel, meaning the weight of bullish is greater than bearish.

The RSI price line points to a value of 62 with a flat channel, indicating a sideways market.

The trade signal line points to a value of 61 with a flat channel indicating a sideways market.