Technical Analisis Dari FBS.com

[Syazfirul Enterprise]

AUD/USD: trying to reach Senkou Span B

Technical levels: support – 0.7450; resistance – 0.7540.

Trade recommendations:

1. Sell — 0.7540; SL — 0.7560; TP1 — 0.7440; TP2 — 0.7390.

Reason: bearish Ichimoku Cloud and rising Senkou Span A and Tenkan-sen; a correctional golden cross of Tenkan-sen and Kijun-sen; the prices are in the Cloud; strong resistance of Senkou Span B.

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[Syazfirul Enterprise]

Aussie stands still, Kiwi moves higher

On Wednesday, the Australian dollar remained intact against its American counterpart, after the publication of dismal Australian housing sector data. Meanwhile, the New Zealand dollar leapt notwithstanding a gloomy report on business confidence.

The currency pair AUD/USD was little changed, showing 0.7480.

The Australian Bureau of Statistics earlier informed that in October building approvals sank 12.6%, thus ruining hopes for a 1.5% revenue.

In September, building approvals sank by 9.3%. The figure was revised from a previously assessed 8.7% drop.

The currency pair NZD/USD grew 0.22% to trade at 0.7144, which is the highest outcome since November 11.

Data also demonstrated that the ANZ business confidence index for New Zealand dropped to 20.5 this month from October’s reading of 24.5.

Meanwhile, the US dollar still remained backed by hopes that increased fiscal spending as well as tax cuts under the Trump administration will drive inflation and economic growth.

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[Syazfirul Enterprise]

GBP/USD: bulls are feel fine

Technical levels: support – 1.2520, 1.2480; resistance – 1.2530, 1.2560, 1.2600.

Trade recommendations:

1. Buy — 1.2520; SL — 1.2500; TP1 — 1.2560; TP2 — 1.2600.

Reason: irregular narrow bearish Ichimoku Cloud; a new golden cross of Tenkan-sen and Kijun-sen; all lines of Ichimoku Indicator are rising, but the prices are under resistance.

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[Syazfirul Enterprise]

Gold eases from 10-month minimums

On Thursday, gold prices retraced some losses, having fallen to almost 10-month minimums as the greenback eased, but the number one precious metal remained under pressure amid hopes for higher American interest rates.

Gold was trading at $1,169.65 per troy ounce, having dropped as low as $1,163.5 earlier in the session, the lowest value since February 5.

Meanwhile, silver futures reached $16.37 a troy ounce, copper futures hit $2.626 a pound. As for palladium, this commodity was at $773.2, levels not observed since June 2015.

On Wednesday, the greenback soared, after the Organization of the Petroleum Exporting Countries came to an agreement on a crude output cut aimed at suppressing global oversupply and shoring up prices.

Hopes for higher crude prices added to American inflation expectations, which have already been spurred by prospects for increased fiscal spending under the Trump administration.

Demand for the greenback was also powered after positive American economic reports lent further credence to the view that the Fed will increase rates already in December.

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[Syazfirul Enterprise]

Gold is intact in Asia

On Monday, gold stood still during Asia trade, as traders reacted cautiously to another round of political turmoil in Italy and the euro zone, following a resounding "No" vote on a referendum in Italy, aimed at political reforms.

In New York, February delivery gold futures traded between small revenues and losses at levels about $1,177.55 per troy ounce. March delivery silver futures were mostly unchanged, keeping to $16.830 per troy ounce. Meanwhile, March delivery copper futures sank 0.84%, trading at $2.608 a pound.

Market participants didn’t take sharp note of a weaker euro, which fell to a 20-month minimum, as Italian Prime Minister Matteo Renzi resigned, having suffered rather a humiliating defeat in a referendum, aimed to reforming the country's constitution.

Elsewhere, John Key, New Zealand Prime Minister told that he would resign, thus making it clear he wouldn’t consider a fourth term.

Later on Monday, Great Britain is to issue data on service sector activity, while the Institute for Supply Management is expected to publish its non-manufacturing PMI.

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[Syazfirul Enterprise]

AUD/USD: on Tenkan’s support

Technical levels: support – 0.7450; resistance – 0.7490.

Trade recommendations:

1. Buy — 0.7450; SL — 0.7430; TP1 — 0.7490; TP2 — 0.7540.

Reason: bearish Ichimoku Cloud, but the rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen; the prices are in the Cloud.

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[Syazfirul Enterprise]

GBP/AUD broke resistance zone

GBP/AUD broke resistance zone
Next buy target - 1.7650
GBP/AUD continues to rise after the recent breakout of the resistance zone lying between the resistance level 1.6960 (which stopped the previous a-wave of the active minor ABC correction 2 from the end of October) and the 61.8% Fibonacci correction level of the previous sharp minor impulse wave 1 from the middle of September. The breakout of this resistance zone accelerated the active minor c-wave.

GBP/AUD is expected to rise further in the active c-wave toward the next buy target at the strong resistance level 1.7650, which reversed the previous waves A and (2), as can be seen below.

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[Syazfirul Enterprise]

British manufacturing output suddenly tumbles in October

In October, in Great Britain manufacturing as well as industrial production both unexpectedly dropped, driving concerns over the British economy, as official data revealed on Wednesday.

The UK Office for National Statistics reported that in October, manufacturing production sank by a seasonally adjusted 0.9%, which is worse than hopes for a revenue of 0.2%. October's drop appears to be the weakest since February.

On an annualized basis, in October, manufacturing output sagged at rate of 0.4%, which is worse than predictions for a 0.8% soar, having leapt at a rate of 0.1% in September. Last month’s data was revised down from an initial 0.2% profit.

In October, year-on-year, industrial output lost, below hopes for a 0.5% ascend, and following the 0.4% leapt registered last month. September’s outcome was revised upwards from an initial profit of 0.3%.

Right after the report, the currency pair GBP/USD hit 1.2607, tumbling from 1.2630.

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[Syazfirul Enterprise]

Morning brief for December 9, 2016

EUR/USD slumped to 1.0585 yesterday after ECB trimmed the size of its asset-purchasing program, but extended it for longer than it was expected. Draghi’s message was ambivalent – reducing bond buying while extending the current purchase program beyond March 2017 (till April 2017 with 80 bln per month followed by 60 bln for the rest for the year or even further if needed). This made investors scattering to and fro as they were trying to digest implications of such actions. Today’s focus will be on the US preliminary UoM consumer sentiment.

USD/JPY moved higher (above 114.5) in the early hours of the Asian session amid a retreat from haven currencies, then, the yen gained momentum due to Japan’s upbeat BSI manufacturing index and M2 money stock having dragged the pair towards 114.25.

AUD/USD changed only a little in the course of the Asian session. First it dropped to 0.7441, then, managed to erase its losses having climbed to 0.7463 due to strong China’s inflation readings. China’s consumer price index advanced 2.3% from a year ago. Producer price index soared 3.3% in the 12 months through November.

GBP/USD is consolidating in the range of 1.2568 – 1.2594 after Thursday’s precipitous downfall to 1.2547. Later today traders will receive the UK good trade balance data, construction output, and consumer inflation expectations which should offer some support to the pound if the market’s forecasts are fulfilled.

USD/CAD moved lower yesterday due to the surging oil prices. They managed to rebound to from $52.90 to $54.10 just in two days on growing optimism that non-OPEC producers might agree to cut output in the aftermath of the cartel agreement to curb oil production.

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[Syazfirul Enterprise]

EUR/USD: "Pennant" led to decline

Bears faced a support at 1.0552, so the price is consolidating. Therefore, the market is likely going to decline towards the next support at 1.0506 – 1.0461. If a pullback from this area happens, there’ll be an opportunity to have an upward correction.

EUR/USD: "Pennant" led to decline

The price is consolidating between a resistance at 1.0562 and a support at 1.0536. Considering the main bearish trend, the pair is likely going to test a support at 1.0506 – 1.0461 in the short term. If bears be stopped here, bulls will probably try to reach a resistance at 1.0552.

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