Daily FX Technical Trend Bias Key Levels Tues 26 Mar

EUR/USD – Push down within medium-term range

Broke below 1.1340 short-term lower neutrality zone limit as per highlighted in our previous report. Flip to a bearish bias below 1.1350 key short-term pivotal resistance for a further potential push down to target the next near-term supports at 1.1280 and 1.1220 (also the lower boundary of a complex medium-term range configuration in place since 12 Nov 2018)
However, a break above 1.1350 negates the bearish tone for a squeeze up to retest 1.1410 (medium-term descending resistance from 24 Sep 2018 high).

GBP/USD – Push down within medium-term range

The pair has almost reached the short-term resistance/target of 1.3280/3000 as per highlighted in our previous report. Yesterday, the rebound has stalled again at the minor descending trendline resistance in place since 13 Mar 2019 coupled with a bearish divergence signal seen in the 1-hour RSI oscillator. Flip back to a bearish bias with 1.3250 as the key short-term pivotal resistance for a further potential push down to target the next supports at 1.3160 and 1.3080/3050.
However, a break above 1.3250 negates the bearish tone for a squeeze up to retest the 1.3350 medium-term range resistance.

USD/JPY – “Bearish flag” consolidation with further potential downside

Broke below the former ascending channel support from 03 Jan 2019 flash crash swing low area. Flip to a bearish bias below 110.40 key short-term pivotal resistance for a further potential push down to target the next supports at 109.60 and 109.30 (Fibonacci retracement/expansion clusters).
However, a break above 110.40 invalidates the bearish scenario for a squeeze up to retest the pull-back resistance of 110.95 (former ascending channel support from 03 Jan 2019).

AUD/USD – Push down within a medium-term complex range

If the 0.7160 short-term key pivotal resistance is not surpassed, the pair is likely to see a potential push down to test the near-term support at 0.7070 (also the minor ascending trendline from 08 Mar 2019 swing low).
However, a break above 0.7160 sees a push up to retest the 0.7200 medium-term descending range resistance in place since 03 Dec 2018 swing high.

This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

StoneX Financial Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.cityindex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.

ALL TRADING INVOLVES RISKS. LOSSES CAN EXCEED DEPOSITS.

City Index is a trading name of StoneX Financial Pte. Ltd. (“SFP”) for the offering of dealing services in Contracts for Differences (“CFD”). SFP holds a Capital Markets Services Licence issued by the Monetary Authority of Singapore for Dealing in Exchange-Traded Derivatives Contracts, Over-the-Counter Derivatives Contracts, and Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading. SFP is also both Derivatives Trading and Clearing member of the Singapore Exchange (“SGX”). SFP is a wholly-owned subsidiary of StoneX Group Inc.

The information provided herein is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to invest, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk.

The information does not represent an offer of, or solicitation for, a transaction in any investment product. Any views and opinions expressed may be changed without an update. To understand the risks and costs involved, please visit the section captioned “Important Information” and the “Risk Disclosure Statement”.

The information herein is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation.

StoneX Financial Pte. Ltd. 1 Raffles Place, #18-61, One Raffles Place Tower 2, Singapore 048616. Tel: 6309 1000. Co. Reg. No.: 201130598R.

This advertisement has not been reviewed by the Monetary Authority of Singapore.