On Monday, the greenback has been the undisputable leader of the Forex board, particularly through the last week of trading, in what shifted a rather momentous month of August, characterised by the intensification of the US-China trade war, with the latest releases to hike tariffs coming into effect this last Sunday. Earlier today, during the Asian session open, the dollar index was at its highest in more than two years versus the bucket of 6 major currencies, while global stocks were punished by U.S.-China trade disputes. China has lodged a complaint against the United States at the World Trade Organization over U.S. import duties, the Chinese Commerce Ministry said on Monday. With that, the market continues to follow the safe-haven appeal, keeping investors cautious. The price of Bitcoin (BTC) has surged over the past few days and has again passed the $10,000 threshold. Previously, the Bitcoin lost $600 just in the course of a half-hour — sinking below the $10,000 mark before collapsing to a weekly low of $9,362 on Aug. 29. The price has slowly increased since then and is currently trading over $10,400, up 6.54% from its previous 24-hour value. The BTCUSD has already violated the immediate resistance area of 9791 and the psychological area of 10,000. Previously we discussed, the BTC has reversed from a suggested support area of 9315. Sentiment remained bullish with an immediate resistance around 9,800 and 10,049. On the lower side, support continues to prevail around 9,582. Fortunately, Bitcoin has hit both of our suggested levels. What's next? Support Resistance 9,951.93 10,653.2 9,504.81 10,907.35 8,803.54 11,608.62 Pivot Point 10,206.08 BTC has tested both of our forecasted levels 9,800 and 10,049 as it showed a strong bullish run. The Doji candle on the 4-hour timeframe may drive slight retracement until 10,000 level. Whereas, a continuation of the bullish trend may lead BTC towards 10,850 level today. The EUR/USD currency pair found on the bearish track ahead of the 1.09 handle, due to all buyers expect the European Central Bank to choose President Lagarde's speech for the next push lower. As of writing, in this currency pair, the selling interest continues to unabated due to a continuous strong U.S. Dollar against its main competitors, as repeated /united States and China trade friction linked with Brexit matter continues to increase the safe-haven of the buck. Moreover, the USD Index increased on Monday's rally and hit the highest level since 2017 at 99.33, presently trading at few points below. Whereas, the EUR currency still under pressure due to the worsening Eurozone economic situation, particularly due to the final Euro area Manufacturing PMIs released that the Eurozone's manufacturing slowdown extended for a 7th month in August. Besides this, the United States and China trade war and intensifying Brexit uncertainty flashing to the Euro area growth concerns and increased appeals for an aggressive rate cut by the European Central Bank in the meeting which is due to next week. Therefore, according to the Europan Central Bank watch, markets are now pricing in a 60% chance a twenty-bps September rate cut versus ten-basis points easing previously expected. All focus continues to stay on the US ISM Manufacturing data and trade progress during the day, while on the other side, all eyes will keep on Lagarde’s speech. Support Resistance 1.0954 1.0989 1.0939 1.1008 1.0904 1.1043 Pivot Point 1.0974 The EUR/USD extends its monsoon as its trades near to the lowest since May 2017 while flashing 1.0965 during Tuesday’s Asian session. The EUR/USD bearish trend remains powerful as it has broken the strong support level of 1.1075. The support-turned-resistance line developed since late-May 2019, at 1.0988, displays an immediate upside wall to watch ahead of August 01 low of 1.1027 and 10-day simple moving average (DMA) level of 1.1056. On the lower side, the next potential target can 1.0885. Today, the AUD/USD pair slipped out of the sideways bracket and was travelling south after scoring the daily opening near 0.6724 level. The Reserve Bank has held its cash rate on steady, despite evidence the economy stalled distinctly over the June quarter. The RBA board voted to keep its cosmetic dry after making continuous cuts in June and July to take the cost of borrowing to a historic low of 1 per cent. China Caixin Manufacturing PMI August month, 50.4 against 49.8 forecasts, opposing the weekend report of official manufacturing figure 49.5 versus 49.7 expected, Australian buyers shrug off recent uncertainty. Support Resistance 0.6708 0.673 0.6698 0.6742 0.6676 0.6763 Pivot Point 0.672 On the trade front, the AUD/USD is facing solid support around 0.6700. Aussie has been forming long Doji candles over this level, suggesting chances of a bullish reversal. Immediate resistance stays at 0.6750 and 0.6785. While the EMA is signalling a bearish bias. I will be staying bullish above 0.6710 and bearish below 0.6755 today. All the best!

The Dollar Index soared to a two-year high on Friday, climbing 0.6% on the day to 98.81. On Sunday, fresh U.S. and China tariffs progressed into effect. Meantime, the U.S. president proceeded to pile weight on the Federal Reserve, tweeting: "The Euro is falling against the Dollar like crazy, providing them a great export and manufacturing advantage...and the Fed does NOTHING!" The euro fell 0.8% to $1.0991, posting a five-day losing strip to the lowest level since May 2017. Official data revealed that eurozone core CPI rose 0.9% on year in August (vs. +1.0% anticipated and +0.9% in July), while the jobless rate was poised at 7.5% in July (as foreseen).   Bitcoin developers have been attempting to get the world's most famous cryptocurrency extra beneficial for payments, with the slightly dubious Lightning Network one of the most attractive projects. Nevertheless, severe safety vulnerabilities have this week been found on the Bitcoin Lightning Network, which could end in users losing their bitcoin if links are not updated. The BTC/USD pair is correcting the cutting rally from the low of $3,236.09 to the high of $13,973.5. Pullbacks that gain support between the 38.2% and 50% retracement levels are deemed strong. A broader pullback under the 61.8% Fibonacci retracement level decreases the likelihood of a resumption of the uptrend. Support Resistance 9,477.2 9,725.74 9,336.9 9,833.98 9,088.36 10,082.52 Pivot Point 9,585.44 BTC has reversed from a suggested support area of 9315. Today's sentiment remains bullish with an immediate resistance around 9,800 and 10,049. On the lower side support continues to prevail around 9582. Today in the early Asian market, the AUD/USD currency pair hit the bullish track due to upbeat manufacturing purchasing managers index data from China, the pair takes the buying of 0.6735 after dropped 0.02%. China Caixin Manufacturing PMI August month, 50.4 against 49.8 forecasts, opposing the weekend report of official manufacturing figure 49.5 versus 49.7 expected, Australian buyers shrug off recent uncertainty. At the starting of the day, a slew of private data concerning the Aussie economy released. As well as, the AIG Performance of Mfg Index for August and the 2nd quarter company gross Operating Profits was upbeat release whereas Commonwealth Bank Manufacturing PMI and the Australia and New Zealand Banking Group’s (ANZ) Job Announcements for August flashed negative signals. At the trade front, the United States avoid the China respectful cancellation of tariffs ahead of this month's trade discussion while the protests in Honk Kong could get a noticeable intervention fro china. Meanwhile, the latest headline came that China will hold a press conference tomorrow for discussions concerning Hong Kong's current situation. Support Resistance 0.6718 0.6748 0.6698 0.676 0.6668 0.679 Pivot Point 0.6729 On the trade front, the AUD/USD is facing solid support around 0.6715. Aussie has been forming Doji candles over this level, suggesting chances of a bullish reversal. Immediate resistance stays at 0.6750 and 0.6785. While the EMA is signalling a bearish bias. I will be staying bullish above 0.6710 and bearish below 0.6755 today. Today in the early Asian market, the gold prices surged due to new tariffs kicked in both the United States and China, indicating the next step in the continuing trade war between the two largest economies in the world. Gold Futures traded on the Comex division of the New York Mercantile Exchange were up 0.26% to $1,533.40 a troy ounce. Such as over the weekend, the United States and China trade war increased again due to the United States tariff on 15% on Chinese goods including footwear, smartwatches a flat-panel television took effect. Meanwhile, China’s economy is still under pressure. The official manufacturer’s Purchasing Managers’ Index (PMI) for August, released on Saturday, came in unexpectedly lower at 49.5 down from 49.7 in July. Whereas, the Caixin China General Manufacturing PMI, declared Monday morning, recorded a rise to 50.4 in August up from 49.9 in July. In both cases, a reading above 50 signals increase. On the other hand, during the Monday the U.S. Dollar Index Futures that tracks the USD against a bucket of currencies was lower down 0.08% to 98.83. Support Resistance 1,513.9 1,530.12 1,507.36 1,539.8 1,491.14 1,556.02 Pivot Point 1,523.58 Gold is likely to trade with the neutral sentiment, and we may see choppy trading in between a trading range of 1533 to 1517 on the lower side. However, bullish or bearish price action will determine it's trend. Safe haven support is also underpinning gold today. All the best!

On Friday, the market continues to trade the echos coming from the US.GDP figures which came out slightly better than the forecasted one. According to the "second" estimate released by the Bureau of Economic Analysis, the U.S. Real gross domestic product (GDP) grew at an annual rate of 2% in the second quarter of 2019. In the first quarter, real GDP grew 3.1%. Eventually, the Greenback buyers were testing the 98.57 resistance handle on the back of US Q2 GDP that came in-line with the forecasts. Meantime, the EUR/USD was underway a strong tumbling rally, targeting the robust 1.1027 support handle. Bitcoin is trading at $9,496, marking a 1.85% price drop on the day. Yesterday, BTC, ETH, and XRP all sank distinctly in price and continues to trade the same price action. BTC, in particular, fell below the $10,000 price point and continued to slip to under $9,500 earlier today. Support Resistance 9617 10805.92 9094.65 1472.49 7905.73 12661.41 Pivot Point 10283.57 The BTC/USD has traded well in line with our forecast and continued to stay below 9790. Its the same level which was providing supporting the leading crypto pair during the last week.   The Stochastic and RSI still stays in the bearish zone, signalling odds of further selling in the BTC/USD. The sentiment remains bearish as the violation of double bottom has opened further room for selling until 9476 and 9300. Let's keep an eye on 9550 as BTC/USD can stay bearish below this level today. The single currency Euro weekend on the release of worse than expected Prelim inflation data from Germany. The inflation rate in Germany as measured by the consumer price index (VPI) is expected to be 1.4% in August 2019. Based on the results available so far, the Federal Statistical Office (Destatis) also reports that the consumer prices are expected to decline by 0.2% in July 2019. With that, the EUR/USD continues to trade bearish after violating 1.1060 support level which was acting as a stoppage, preventing the downside. The violation came with a bearish engulfing candle on the 4-hour timeframe which is suggesting strong chances of bearish trend continuation. The Stochastic and Relative Strength Index (RSI) is indicating 9 and 8 levels respectively, showing strong bearish bias among traders. EUR/USD is likely to gain support around 1.1030 and 1.1005 while the resistance stays at 1.1065 today. Support Resistance 1.1035 1.1087 1.1013 1.1116 0.0961 1.1168 Pivot Point 1.1065 On Friday, I will be looking to stick with my old plan to stay bearish below 1.1098 to target 1.1065 (achieved) and 1.1030. Whereas, buy positions on bullish breakout of 1.1065 will be preferred. The cable took a bearish turn amid stronger dollar and uncertainties around Brexit. On the Brexit front, UK PM Boris Johnson necessitates help from the Queen to suspend the Parliament. Therefore, suspension of the UK Parliament ahead of Queen’s speech would support Boris to perform his exit plans with minor interference. The GBP/USD continued to trade in a bullish channel, but in a bearish mood as it slipped to lower corner of the channel. The 1.2160 level is an area of ground, and now it seems as if we will continue to see a lot of noise in this region. On the 4 hourly charts, GBP/USD has formed a bullish channel which is extending support to sterling around 1.2160. The bullish channel is still intact but the EMA has been violated as GBP/USD has crossed below it. The violation of 1.2160 level could send GBPUSD deeper towards 1.2115. On the upper side, resistance continues to stay at 1.2300. Overall sentiment remains bullish above 1.2170. Support Resistance 1.2151 1.2283 1.2088 1.2351 1.1956 1.2483 Pivot Point 1.2219 On Friday, one of the crucial trading levels is 1.2170 and the bearish breakout may extend bearish rally until 1.2120. All the best!

On Wednesday, the dollar index, which measures the U.S. currency against a basket of six currencies, surged 0.19% to 98.186. The Chinese yuan trimmed lower to 7.1690 in foreign markets, not distant from the record low of 7.186 it placed on Monday. Quite distinctly, the Greenback was building a mounting wedge pattern, pleasing the bears. Meantime, the USD Index continued to stay well above the red Ichimoku Clouds, aiming the 98.45 resistance handle. On the flip side, 97.16 stable support handle remained as an authoritative stoppage. The RSI stood muted near 55 levels, maintaining a neutral perspective on future actions. During the previous session, Bitcoin’s price slid more than $600 in 30 minutes, falling back below $10,000. Bitcoins opened the day at just under $10,200. Over the trading day, BTC broke over $10,250 a few of times. The action finished with a 30-minute sell-off. BTC observed a large pullback from $10,200 to $9,600, followed by a small bounce near $9,740, providing temporary support. At the time of writing, BTC is currently changing hands at $9,700. Support Resistance 9617 10805.92 9094.65 1472.49 7905.73 12661.41 Pivot Point 10283.57 On the 4 hour chart, the BTC/USD was facing solid support around 9790 which has now been violated amid massive sell-off. For now, the BTC/USD has an open room for 9476 and 9300. Let's keep an eye on 9790 as BTC/USD can stay bearish below this level today. The EURUSD traded to close negative for the 3rd consecutive day this week to support the 2-month-old downtrend channel. Anyhow, a firm 1.1060 support level, was acting as a stoppage, preventing the downside. However, the moves haven't been big enough to change the technical side of the market. The EUR/USD pair continues to trade sideways around the 1.1100 figure, concluding the day with moderate losses around 1.1090. The U.S. dollar bestowed an odd behavior over the board, as risk aversion drove the financial world. Meanwhile, the Stochastic and Relative Strength Index (RSI) is indicating 19 and 10 levels, showing weak buyer interest. German September Gfk Consumer Confidence Survey rose 0.1 points reporting 9.7 points over the 9.6 points estimates. On Thursday, the EUR/USD is likely to gain support around 1.1065 and 1.1050 while the resistance stays at 1.1115. Additionally, the EMA is also likely to keep EUR/USD lower below 1.1100. Support Resistance 1.108 1.111 1.1068 1.1128 1.1037 1.1159 Pivot Point 1.1098 On Thursday, I will be looking to stay bearish below 1.1098 to target 1.1065 and 1.1050. Whereas, buy positions on bullish breakout of 1.1110 will be preferred. The GBP/USD continues to be very volatile as we rushed lower. The 1.2250 level is an area of ground, and now it seems as if we will continue to see a lot of noise in this area. On the 4 hourly charts, GBP/USD has formed a bullish channel which is extending support to sterling around 1.2175. At the same level, we also have an EMA line which is also keeping GBPUSD supported. In case you are wondering what caused a massive slump in the GBP/USD area, well it was a result of headlines news intimating that UK PM Johnson desire to prorogue parliament until October 14th, a move meant to stop MPs opposing Brexit in the case no new deal would be reached by the end of October. The Queen officially dissolved the Parliament and passed proroguing of Parliament as demanded by Johnson, “no earlier than Monday 9th September and no later than Thursday 12th September 2019 to Monday 14th October 2019.” Labour leader Jeremy Corbyn has proposed to meet the Queen to communicate his anxieties about the Parliament suspension, while some news indicated that Corbyn would try bill next week to block PM Johnson's plan. On the technical front, the GBPUSD has formed a bullish channel which is keeping Sterling supported above 1.2170, whereas the violation of this level could send GBPUSD deeper towards 1.2115. On the upper side, resistance continues to stay at 1.2300. Overall sentiment remains bullish above 1.2170. Support Resistance 1.2151 1.2283 1.2088 1.2351 1.1956 1.2483 Pivot Point 1.2219 Two ideas. First is to stay bearish below 1.2220 to target 1.2180. Second is to stay bullish above 1.2170 with a target of 1.2250. All the best!

A day before, the Greenback plunged modestly against the Japanese yen, proposing traders were sceptical of the confidence shown by President Donald Trump on the likelihood of a U.S.-Chinese trade deal days after the two nations increased tariffs against each other. The U.S. stock whipsawed initially jumping higher but then dipping on the back of tweets from an editor at the Chinese state news outlet, while the market continues to follow tweets from U.S. President Trump. Lately, tweeting has become and is considered as a medium of choice to shake the markets as it relates to trade. China recently brought new tariffs, and bullying from President Trump intensified the trade war late last week. Consequently, safe-haven assets such as gold and Japanese yen are peaking.     Bitcoin may be holding above $10,000 at the moment. However, the danger of dropping to lower levels is immense. The recovery from August lows stalled unable to make headway above towards $13,000. If the support formed by the confluence at $ 9852.20 gives in to the ongoing retraction, BTC/USD will likely plunge towards $7,500. 10142.9 10532.01 9916.35 10694.57 9527.24 11083.68 Pivot Point 10305.46   I will be looking to trade choppy by staying bullish above 9790 and bearish below 10400. The EUR/USD pair traded seesawing near 1.1100 figure, concluding the day with moderate losses around 1.1090. The U.S. dollar bestowed an odd behaviour over the board, as risk aversion drove the financial world. Following the stock market opened time, the yield-curve reversal steepened, with the benchmark yield on the 10-year Treasury note at 1.47% and that of the 2-year note at 1.52%. With this, the stock markets gain a bit of support along with U.S. dollar. EUR/USD currency pair was flashed red yesterday, fell 0.10% and close under 1.11. The market movement is leaving the clue that the trader's focus has shifted to the aggressive rate cut view by the European Central Bank, which is due next month.   For now, the EUR/USD is likely to gain support around 1.1065 and 1.1050 while the resistance stays at 1.1115. The RSI is massively oversold, holding below 20, suggesting chances of a bullish reversal in EUR/USD. However, the EMA is likely to keep EUR/USD lower below 1.1100. EUR/USD - Daily Technical Levels Support Resistance 1.108 1.111 1.1068 1.1128 1.1037 1.1159 Pivot Point 1.1098 I will be looking to stay bearish below 1.1098 to target 1.1065 and 1.1050. On the flip side, buy positions on bullish breakout of 1.1110 will be preferred. A day before on Tuesday, the GBP/USD pair reached a fresh August high of 1.2309, keeping up with the gains by the end of the day, as speculative interest dropped the dollar on concerns of a US recession, while Sterling gained support in headlines signalling that opposition MPs accepted on a strategy to block a no-deal Brexit. Besides that, the market focus was on the round that the United Kingdom is going for elections soon after the British Fiance Minister's office refused his speech before 24 hours of the release of the new plan. Moreover, the Chancellor Sajid Javid will release a new spending plan on the 4 September. The Cable is battling with the 38.2% retracement of its fresh daily decline held between 1.2557 and 1.2014. Sterling has already retraced back up to 1.2250, the 38.2% Fibonacci retracement level and even below this at 1.2225 in the wake of profit-taking. Now the GBP/USD may find an immediate support at1.2210 will act as immediate support. Support Resistance 1.2226 1.2328 1.2167 1.237 1.2066 1.2471 Pivot Point 1.2268 I will be looking to stay bullish above 1.2268 with a target of 1.2328 and 1.237 on the upper side. All the best!

BTC/USD - Daily Technical Levels EUR/USD - Daily Technical Levels GBP/USD GBP/USD - Daily Technical Levels

BTC/USD - Daily Technical Levels EUR/USD - Daily Technical Levels GBP/USD GBP/USD - Daily Technical Levels

A day before, the ECB Meeting minutes recorded that the estimate for the economy persists weaker and additional stimulus would begin as early as in September. Greenback had secured a choppy performance on Thursday, and same continues for Friday as it remaining within 98.14/98.38 range levels. Summer vacations are causing a lack of volatility in the market, which is why we aren't seeing trendy trades. However, we may experience some movement on the back of economic events. Brace yourself. Today, the market prepares to trade major events like Canadian Core Retail Sales m/m, Fed Chair Powell Speaks and Jackson Hole Symposium.   Bitcoin price on is trading in negative territory, nursing steep losses of some 7% in the session. The bear market continues to drag prices down across the board, with a lack of slowdown in sight. Now if the trend is to turn down the 9467.57 low will be a major level as a break would make a lower high followed by a lower wave low. Technically, the BTC/USD is facing double bottom support around 9,780. We may see bullish correction until 10,200, but chances of a bearish breakout look dominant. Closing of more candles above 9,780 will trigger buying, and closing of candles below 9,780 can lead BTC/USD towards 9,400. All the best and have a profitable day!   The EUR/USD was almost near its opening mark as the day was approached to closing, having maintained the narrow trading range of 1.1115 - 1.1070. The technical indicators like RSI and stochastics were most muted near 40 marks, displaying impartial buyer interest. The major downside began as counterpart Sterling surged amid positive Brexit updates. Anyways, the economic calendar for Eurozone remained positive on the backdrop of upbeat economic data releases. German August Markit Manufacturing PMI released at 43.6 points, which is better than 43.0 market forecasts. Moreover, August Eurozone Markit PMI Composite registered 1.17% over the 51.2 points consensus estimates.   Despite diverse FOMC report, the EUR/USD pair managed to maintain its sideways range of 1.1115 - 1.1070. Despite the fact, investors found a solid reason to go long on the EUR/USD, especially on better than expected PMI figures. Friday marks the 7th consecutive day; the EUR/USD continues to consolidate in a narrow trading range of 1.1115 to 1.1065. While the risk continues for the downside, let's keep an eye on 1.1065 as a violation of this level can bring us sharp sell-off until 1.1035 in an immediate reaction. While a bullish breakout at 1.1115 can extend bullish trend until 1.1160. Support Resistance 1.1118   1.1178 1.1094   1.1215 1.1034   1.1275 Pivot Point 1.1154 I'm looking to stick with the same old plan of doing choppy trading by staying bearish below 1.1115 to target 1.1060 support areas. Below this, the EUR/USD can extend bearish rally until 1.1030 today. On the flip side, buying is preferred near 1.1030 on the lower side or 1.1120 in case of a bullish breakout. Sterling traded exactly in line with our forecast, adding more than 80 pips profit. A day before, the GBP/USD remained the best performer for the day amid positive news on Brexit front. Quite distinctly, the GBP/USD pair had previously made a higher drift, passing above the moving average and triple top resistance area of 1.2180. Previously, German Chancellor Angela Merkel had supplied Britain 30-days time to come up with a resolution for the Irish Backstop. Nevertheless, today, Merkel explained that she desired to highlight “shorter time” by stating 30-days.   At the moment, the overbought Sterling is likely to retrace back up to 1.2200, the 38.2% Fibonacci retracement level. Below this, the GBP/USD may find support around 1.2190, 50% and 1.2170, 61.8% Fibo levels. Support Resistance 1.2148 1.2314 1.2046 1.2376 1.1881 1.2541 Pivot Point 1.2211 I will be looking to stay bullish above 1.2200 with a target of 1.2235and 1.2265 on the upper side. Gold prices slipped on Friday but held near the key $1,500 level amid trade uncertainties and ahead of U.S. Fed chair’s speech for clues on future rate cuts. Concerns mounted that major markets could tip into recession, boosting investors’ association for risk and decreasing from bullion’s safe-haven appeal. Earlier today, the yellow metal continued to trade sideways, within a narrow trading range of around 1502 - 1494 as risk-on sentiments play. Gold's immediate support stays at 1,494 and 1,489 the violation of these levels can expose gold towards 1,470 area. On the other hand, gold is likely to face resistance around 1,508 and 1,517. Support Resistance 1491.87 1504.06 1486.11 1510.49 1473.92 1522.68 Pivot Point 1498.3 Gold is likely to stay bearish below 1,499/1,500 with an immediate target of 1,494 and 1,489. I may look for bullish entry above 1,489 but again it depends on upon Fed Chair Powel speech during the New York session today.

The U.S. Federal Reserve's FOMC Meeting Minutes fails to surprise the market with hawkish bias. As per the minutes from the Federal Reserve’s July 30-31 monetary policy meeting, two of the Fed policymakers voiced their preference to make a 50 basis point rate cut in July rather than a 25 basis point cut to address the low inflation. The U.S. Federal Reserve policymakers were intensely divided over whether to cut interest rates. Minutes from the two-day meeting published yesterday on Wednesday revealed policymakers’ final decision to reduce the central bank’s benchmark interest rate by a quarter percentage point carried more opposition than was displayed in the rate-setting panel’s 8-2 vote, published after the meeting adjourned on July 31. Today, the market prepares to trade the series of manufacturing and services PMI data from Eurozone.     Despite mixed FOMC report, the EUR/USD pair managed to maintain its sideways range of 1.1115 - 1.1070. Traders are finding no solid reason to derive breakout of the range, however, today it has a good chance of breaking out of the range. It’s especially a busy day ahead on the Eurozone economic calendar. Important stats due out of the Eurozone include August prelim private division PMI figures out of France, Germany, and the Eurozone. In addition to PMI figures, the ECB monetary policy meeting minutes are also due out later today.   It's been the 6th consecutive day, the EUR/USD continues to consolidate in a narrow trading range of 1.1115 to 1.1065. The risk continues for the downside, although to validate a bearish rally, the pair would need to violate 1.1065 on the lower side. The EUR/USD may have a bullish or bearish breakout on the back of PMI figures. A bearish breakout can lead EUR/USD towards 1.1035 while a bullish breakout at 1.1115 can extend bullish trend until 1.1160. Support Resistance 1.1118   1.1178 1.1094   1.1215 1.1034   1.1275 Pivot Point 1.1154 On Thursday, I will be looking to staying bearish below 1.1115 to target 1.1060 support areas. Below this, the EUR/USD can extend bearish rally until 1.1030 today. On the flip side, buying is preferred near 1.1030 on the lower side or 1.1120 in case of a bullish breakout. The GBP/USD pair trimmed lower through these last three sessions, finishing the day at nearby 1.2140, as optimism for a change in the Irish backstop calmed down after remarks from German authorities. President Steinmeier and later, FM Scholz bot repeated that the Departure Agreement wouldn’t be re-opened. Sterling made a bit of bullish progress, but bearish trendline on the 4-hour timeframe has pushed the GBP/USD lower towards 1.2120. At the moment, Sterling is facing support around 1.2085 along with resistance at 1.2165. Choppy trading is expected within these levels. However, the bearish breakout can extend selling trend until 1.2080 and 1.2040 today. On the upperside, resistance stays at 1.2207. Support Resistance 1.2096 1.2186 1.2046 1.2226 1.1956 1.2316 Pivot Point 1.2136 In the absence of British fundamentals, I will be looking to stay bullish above 1.2080 with a target of 1.2170 and 1.2200 on the upper side. Whereas, bearish positions are suggested below 1.2085 support. The yellow metal gold prices slipped more than 1% over concerns mounted that major markets could tip into recession, boosting investors’ association for risk and decreasing from bullion’s safe-haven appeal. FOMC also failed to drive any major movement in gold prices. Minutes of the Federal Reserve’s July meeting revealed policymakers were divided over whether to cut interest rates but were united in wanting to signal they were not on a path to more easing.   During the Asian session, the precious metal gold continues to trade is sideways, within a narrow trading range of around 1502 - 1494 over risk-on sentiments, where traders are seen to switch their investments from safe-haven assets to risky ones, as they are yielding more profits right now. Gold's immediate support stays at 1,494 and 1,489 the violation of these levels can expose gold towards 1,470 area. On the other hand, gold is likely to face resistance around 1,508 and 1,517. Support Resistance 1483.43 1539.31 1453.42 1565.18 1397.54 1621.06 Pivot Point 1509.3 I will be looking to stay bullish above 1,489 to 1,509 level. The safe-haven has faded, and most of the traders are now trading risk-on sentiment, moving funds into the global stock markets. The BTC/USD fell sharply through 10,000.00 on Wednesday. Violation and closing of candles below 10K psychological level is suggesting strong bearish bias among traders. Now if the trend is to turn down the 9467.57 low will be a major level as a break would make a lower high followed by a lower wave low. Nevertheless, below that, there is another crucial level when it comes to chart structure and that is the 9049.54 wave low from 17th July. This level is the main consolidation low after the most recent rally to 13,880.00.   BTC/USD is facing double bottom support around 9,780. We may see bullish correction until 10,200 but chances of a bearish breakout look dominant. Closing of more candles above 9,780 will trigger buying, and closing of candles below 9,780 can lead BTC/USD towards 9,400. All the best and have a profitable day!

While people enjoy summer holidays, the financial markets are experiencing thin volatility and lack of trading volume, which is why the Asian session has remained a bit quiet from the trading viewpoint. During the previous sessions, a decline in Treasury yields sent bank shares lower, which undermined the financial sector-weighted S&P 500 and Dow. Benchmark 10-year yield dropped nearly five basis points on Tuesday, or 0.05 percentage points, to 1.54% and triggered the risk-off sentiment for the second time this week. Bitcoin is trading at $10,200 amidst a building bearish momentum. BTC/USD is likely to plunge under $10,000 and even explore last week’s lows $9,469 as Bitcoin has already completed 61.8% Fibonacci retracement on the 4 hourly timeframes. As the markets prepare for the FOMC meeting minutes due out later today, Boris Johnson will be in focus early in the day.     On Wednesday, the EUR/USD pair continues to consolidate within a narrow trading range of 1.1115 - 1.1070 as investors are finding no solid reason to determine the trend in Euro and US dollar. Previously, the single currency Euro experienced a macroeconomic setback, as data from the Union was generally discouraging. However, German PPI m/m data managed to underpin Euro's demand. German PPI - For July 2019, the PPI (Producers Price Index) soared by 1.1% compared with the similar month of the preceding year. In June 2019 the annual rate of change all over had been +1.2%, as reported by the Federal Statistical Office. Compared with the previous month of June 2019, the overall index expanded slightly by 0.1% in July 2019.   On the technical side, the EUR/USD hasn't registered much improvement as the pair is still directionless, rangebound within a tight trading range of 45 pips, from 1.1115 to 1.1070. The risk continues for the downside, although to validate a bearish rally, the pair would need to violate 1.1065 on the lower side. Today, Investors are still likely to trade EUR/USD with a bearish bias, but most of the price action will be determined by the FOMC meeting minutes during the New York session. Support Resistance 1.1118   1.1178 1.1094   1.1215 1.1034   1.1275 Pivot Point 1.1154 I will be staying bearish below 1.1115 to target 1.1060 support areas. Below this, the EUR/USD can extend bearish rally until 1.1030 today. At the starting of the Asian session, the AUD/USD currency pair currently trading near 0.6780 and has little changed, due to different comments from the United States policymakers confusing Australian Dollar traders between a lack of data at home. While, on the other side, the United States President Donald Trump said that they are not ready to make a trade deal with China right now. Possibly the Secretary of States Mike Pompeo said bit upbeat comments regarding the United States and China trade deal and also said he thinks that they will reach on a positive result before the 2020 elections. Moreover, the statement came from the Federal Reserve Bank of San Francisco’s President Mary C. Daly, who appreciated the United States employment statistics instead of the expectation of recession down. The market again secured from risk during the earlier day due to light economic calendar and political uncertainty in Italy. Therefore, the United States treasury yields lost a major part of their previous improvements. It should also keep in mind that minutes comment of the Reserve Bank of Australia's newest monetary policy meeting restated the readiness to modify the monetary policy. Daily Support and Resistance S3 0.673 S2 0.6755 S1 0.6766 Pivot Point 0.678 R1 0.6791 R2 0.6805 R3 0.6831 I’m looking to stay bullish above 0.678 and bearish below the same level to target quick 30 pips on either side. The trading is ultimate boils down to monetary policy, with the FOMC meeting minutes and the Jackson Hole Symposium key for the majors. The lack of stats left the markets to look ahead to the FOMC meeting minutes due out later this afternoon. Sterling is consolidating within a narrow trading range of 1.2085 - 1.2140. This range is likely to keep GBP/USD choppy, offering scalpers quick trade opportunities. But later today, we may have a breakout on the release of economic data.   Closing of candles outside of downward trendline resistance 1.2140 is now likely to bring bullish moves in the Cable. For now, the same level is likely to work as a support for the Cable. On the upperside, resistance stays at 1.2207, while support is likely to be 1.2140, and below this, the 1.2100 level may underpin the GBP/USD. Support Resistance 1.2096 1.2186 1.2046 1.2226 1.1956 1.2316 Pivot Point 1.2136 I’m looking to stay bullish above 1.2136 with a target of 1.2170 and 1.2200 on the upper side. Conversely, bearish positions are suggested below 1.2085 support. All the best!