TECHNICAL ANALYSIS

Remain Stable dollar Against Other Major Currencies

The dollar held steady against other major currencies on Monday after the appearance of a report showing that manufacturing activity in New York in August slumped to its lowest level since November 2009. Technically, the trading session today, Tuesday (18/08), the pair Euro dollar likely to move in a negative trend. The weakening of the Euro mainly expected soon retest the support at 1.1025 minimum and maximum 1.0950. Meanwhile, if the Euro is able to break and hold above 1.1074, then the other alternative scenario that Euro likely to test resistance in 1.1100 and 1.1160 area

18b-08

Nikkei Flat Response Wall Street And Oil Prices

Japan’s Nikkei 225 index flat, cautious respond positively end of Wall Street trading while crude oil prices remain at the lowest level in six years. Nikkei 225 spot index gained about 0.1% capable in early trading but fell into a horizontal terkerek as the decline in Japanese stock prices of oil companies. Japanese Yen was also flat against the US dollar after overnight investor optimism on the US economy after the housing data makes dollar higher against the yen. Technically, the index on the trading session today, Tuesday (18/08) likely to weaken, test negative trends, the impact of Wall Street. At the M15 chart bearish engulfing formation provides opportunities for the index to move downside. However, the volume of which is likely to increase, early indications bullish index. In addition, RSI, on the M15 charts, is oversold, signaling upside. It is estimated, the index test the first support level that is 20 575 and 20 635 20500. If it fails in, then the next index is expected to tend to retest the resistance level that is 20 650 and continued until the possibilities are in the area 20710. 18a-08
US & China Data Uncertainty Profitable Bullion

18a-08

 

Gold prices closed higher on Monday, supported by US economic data was weaker than expected and uncertainty over the implications of the devaluation of the Chinese currency. Technically, gold in today’s trading session Tuesday (18/08) potentially bearish, tested negative trend back, but prone to reversal. RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Band begins to widen, thus giving impetus for gold to the upside. It is estimated that the gold price immediately prior to test support in the area of ​​at least 1112.50 and re-test the maximum level of 1107.25. However, if the price of gold is able to break and hold above 1117.30, the estimated price of gold could potentially test the Resistance 1120.25 and 1125.10.

18c-08

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