Introduction
Get the latest insights and forecasts for the forex market with our detailed technical analysis and trading signals for today. Our comprehensive analysis covers key currency pairs, commodities, and indices, providing traders and investors with actionable information to maximize trading opportunities. Stay informed and ahead of the market with our expertly crafted signals and analysis.
Market Overview and Technical Analysis
Table of Today’s Trading Signals
| Asset | Direction | Pivot Level | Support Level | Resistance Level |
|---|---|---|---|---|
| DXY (US Dollar Index) 📈 | Buy | 101.18 | 100.53 | 102.18 |
| EUR/USD 📉 | Sell | 1.1069 | 1.1021 | 1.1111 |
| EUR/JPY 📉 | Sell | 162.00 | 159.38 | 163.81 |
| EUR/GBP 📉 | Sell | 0.8453 | 0.8384 | 0.8490 |
| GBP/USD 📉 | Sell | 1.3113 | 1.3032 | 1.3179 |
| GBP/JPY 📉 | Sell | 191.92 | 187.85 | 195.99 |
| USD/CHF 📈 | Buy | 0.8479 | 0.8403 | 0.8622 |
| USD/JPY 📈 | Buy | 145.06 | 143.51 | 149.32 |
| USD/CAD 📉 | Sell | 1.3560 | 1.3441 | 1.3616 |
| AUD/USD 📈 | Buy | 0.6699 | 0.6642 | 0.6754 |
| NZD/USD 📈 | Buy | 0.6124 | 0.6080 | 0.6197 |
| US30 (DJIA) 📈 | Buy | 40,875.50 | 40,467.11 | 41,590.34 |
| DE40 (DAX) 📈 | Buy | 18,593.70 | 18,149.30 | 18,971.60 |
| US500 (S&P 500) 📈 | Buy | 5,492.99 | 5,402.66 | 5,561.63 |
| BTC/USD (Bitcoin) 📈 | Buy | 54,351.19 | 51,330.62 | 59,123.59 |
| ETH/USD (Ethereum) 📈 | Buy | 2,289.04 | 2,044.47 | 2,575.58 |
| WTI/USD (Oil) 📈 | Buy | 69.83 | 68.29 | 72.61 |
| XAU/USD (Gold) 📉 | Sell | 2494.29 | 2473.76 | 2526.17 |
Detailed Analysis for Each Asset
DXY (US Dollar Index)
- Potential Direction: Bullish 📈
- Overall Momentum: Bullish
- Pivot Level: 101.18
- 1st Support Level: 100.53 (Multi-swing low support)
- 1st Resistance Level: 102.18 (Pullback resistance, 61.80% Fibonacci Retracement)
- Technical Indicators Used: Moving Averages, Fibonacci Retracement, MACD
- Upcoming Economic Events:
- 10:00 USD – Goods and Services Trade Balance (Jul)
- 17:00 USD – Factory Orders (MoM) (Jul)
- 21:00 USD – Fed’s Beige Book
The US Dollar Index (DXY) remains in a bullish stance as it aims for the 1st resistance level at 102.18. The upcoming economic data, especially the Factory Orders and Fed’s Beige Book, could provide further direction to the USD, potentially reinforcing the bullish trend if the data supports economic stability.
EUR/USD
- Potential Direction: Bearish 📉
- Overall Momentum: Bearish
- Pivot Level: 1.1069
- 1st Support Level: 1.1021 (Pullback support, 161.80% Fibonacci Extension)
- 1st Resistance Level: 1.1111 (Overlap resistance, 50% Fibonacci Retracement)
- Technical Indicators Used: Fibonacci Retracement, RSI, MACD
- Upcoming Economic Events:
- 10:00 EUR – ECB’s Elderson Speech
- 10:15 EUR – HCOB Services PMI (Aug)
- 12:00 EUR – Producer Price Index (MoM) (Jul)
EUR/USD is showing a bearish trend, likely to drop towards the 1st support at 1.1021. The market is closely watching the ECB’s Elderson speech and the HCOB Services PMI for August, which could provide insights into the Eurozone’s economic health and affect the EUR’s strength.
EUR/JPY
- Potential Direction: Bearish 📉
- Overall Momentum: Bearish
- Pivot Level: 162.00
- 1st Support Level: 159.38 (Overlap support, 127.20% Fibonacci Extension)
- 1st Resistance Level: 163.81 (Swing high resistance)
- Technical Indicators Used: Fibonacci Extension, Bollinger Bands, Moving Averages
- Upcoming Economic Events:
- 10:50 EUR – HCOB Composite PMI (Aug)
- 12:00 EUR – Producer Price Index (MoM) (Jul)
EUR/JPY continues its bearish momentum, with a potential move down to the 1st support at 159.38. The upcoming Composite PMI could influence the Euro, and the trend will depend on the economic outlook presented by these figures.
EUR/GBP
- Potential Direction: Bearish 📉
- Overall Momentum: Bearish
- Pivot Level: 0.8453
- 1st Support Level: 0.8384 (Swing low support)
- 1st Resistance Level: 0.8490 (Pullback resistance, 38.20% Fibonacci Retracement)
- Technical Indicators Used: Fibonacci Retracement, MACD, RSI
- Upcoming Economic Events:
- 11:30 GBP – S&P Global/CIPS Services PMI (Aug)
EUR/GBP is leaning towards a bearish trend, likely to fall to the 1st support at 0.8384. The upcoming Services PMI for the UK could impact the pair, especially if it deviates significantly from expectations.
GBP/USD
- Potential Direction: Bearish 📉
- Overall Momentum: Bearish
- Pivot Level: 1.3113
- 1st Support Level: 1.3032 (Pullback support, 38.20% Fibonacci Retracement)
- 1st Resistance Level: 1.3179 (Overlap resistance)
- Technical Indicators Used: Moving Averages, MACD, Bollinger Bands
- Upcoming Economic Events:
- 11:30 GBP – S&P Global/CIPS Composite PMI (Aug)
GBP/USD is expected to continue its downward trend, targeting the 1st support at 1.3032. Market participants will be focusing on the upcoming PMI data from the UK for cues on the economic outlook.
GBP/JPY
- Potential Direction: Bearish 📉
- Overall Momentum: Bearish
- Pivot Level: 191.92
- 1st Support Level: 187.85 (Overlap support, 38.20% Fibonacci Retracement)
- 1st Resistance Level: 195.99 (Pullback resistance)
- Technical Indicators Used: Fibonacci Retracement, RSI, MACD
- Upcoming Economic Events:
- 02:30 JPY – Labor Cash Earnings (YoY) (Jul)
- 02:50 JPY – Foreign Bond Investment (Aug 30)
GBP/JPY remains under pressure, likely to move towards the 1st support at 187.85. Upcoming data from Japan could influence JPY movements and impact the pair accordingly.
USD/CHF
- Potential Direction: Bullish 📈
- Overall Momentum: Bullish
- Pivot Level: 0.8479
- 1st Support Level: 0.8403 (Swing low support)
- 1st Resistance Level: 0.8622 (Pullback resistance, 61.80% Fibonacci retracement)
- Technical Indicators Used: Overlap Support, Swing Low Support, Fibonacci Retracement
- Upcoming Economic Events:
- 17:00 USD – Factory Orders (MoM) (Jul)
- 21:00 USD – Fed’s Beige Book
USD/CHF is positioned for a bullish bounce, potentially aiming for the resistance at 0.8622. The upcoming US economic data could either support or challenge this bullish outlook depending on their outcomes.
USD/JPY
- Potential Direction: Bullish 📈
- Overall Momentum: Bullish
- Pivot Level: 145.06
- 1st Support Level: 143.51 (Multi-swing low support)
- 1st Resistance Level: 149.32 (Swing high resistance)
- Technical Indicators Used: Overlap Support, Multi-Swing Low, Swing High Resistance
- Upcoming Economic Events:
- 02:50 JPY – Foreign Investment in Japan Stocks (Aug 30)
- 02:50 JPY – Foreign Bond Investment (Aug 30)
USD/JPY may see an upward push from the pivot level. Economic data from Japan could influence the JPY, thereby affecting the pair’s movement.
USD/CAD
- Potential Direction: Bearish 📉
- Overall Momentum: Bearish
- Pivot Level: 1.3560
- 1st Support Level: 1.3441 (Multi-swing-low support)
- 1st Resistance Level: 1.3616 (Overlap resistance)
- Technical Indicators Used: Overlap Resistance, Fibonacci Retracement, Ichimoku Cloud
- Upcoming Economic Events:
- 15:30 CAD – Exports (Jul)
- 16:45 CAD – BoC Interest Rate Decision
USD/CAD shows bearish potential with resistance at the pivot. Canadian economic data, including the BoC Interest Rate Decision, could significantly impact the CAD and drive USD/CAD movements.
AUD/USD
- Potential Direction: Bullish 📈
- Overall Momentum: Bearish
- Pivot Level: 0.6699
- 1st Support Level: 0.6642 (Overlap support, 38.20% Fibonacci Retracement)
- 1st Resistance Level: 0.6754 (Overlap resistance, 50% Fibonacci Retracement)
- Technical Indicators Used: Swing Low Support, Overlap Support, Fibonacci Retracement
- Upcoming Economic Events:
- 04:30 AUD – Exports (MoM) (Jul)
- 05:00 AUD – RBA Governor Bullock speech
AUD/USD might see bullish action after a bounce around the pivot. Australian economic indicators and the RBA Governor’s speech could provide further direction.
NZD/USD
- Potential Direction: Bullish 📈
- Overall Momentum: Bearish
- Pivot Level: 0.6124
- 1st Support Level: 0.6080 (Pullback support, 50% Fibonacci Retracement)
- 1st Resistance Level: 0.6197 (Overlap resistance)
- Technical Indicators Used: Overlap Support, Pullback Support, Fibonacci Retracement
- Upcoming Economic Events:
- 17:00 USD – ISM Services PMI (Aug)
NZD/USD may move upward after testing the pivot. The ISM Services PMI from the US could play a key role in influencing USD moves, thereby impacting NZD/USD.
US30 (DJIA)
- Potential Direction: Bullish 📈
- Overall Momentum: Bearish
- Pivot Level: 40,875.50
- 1st Support Level: 40,467.11 (Overlap support, 38.20% Fibonacci Retracement)
- 1st Resistance Level: 41,590.34 (Swing-high resistance)
- Technical Indicators Used: Swing Low Support, Overlap Support, Fibonacci Retracement
- Upcoming Economic Events:
- 17:00 USD – ISM Services PMI (Aug)
- 17:00 USD – ISM Services New Orders Index (Aug)
US30 could see a bullish rebound from the pivot. Watch out for the ISM Services PMI and New Orders Index for further clues on market direction.
DE40 (DAX)
- Potential Direction: Bullish 📈
- Overall Momentum: Bearish
- Pivot Level: 18,593.70
- 1st Support Level: 18,149.30 (Multi-swing-low support)
- 1st Resistance Level: 18,971.60 (Swing-high resistance)
- Technical Indicators Used: Overlap Support, Multi-Swing Low, Swing High Resistance
- Upcoming Economic Events:
- 09:00 EUR – Factory Orders s.a. (MoM) (Jul)
- 12:00 EUR – Retail Sales (MoM) (Jul)
The DAX might see a bullish reaction off the pivot. Upcoming data from Germany, such as Factory Orders and Retail Sales, will be crucial for the DAX’s movement.
US500 (S&P 500)
- Potential Direction: Bullish 📈
- Overall Momentum: Bearish
- Pivot Level: 5,492.99
- 1st Support Level: 5,402.66 (Multi-swing-low support)
- 1st Resistance Level: 5,561.63 (Overlap resistance, 38.2% Fibonacci Retracement)
- Technical Indicators Used: Overlap Support, Multi-Swing Low, Fibonacci Retracement
- Upcoming Economic Events:
- 17:00 USD – ISM Services PMI (Aug)
- 17:00 USD – ISM Services New Orders Index (Aug)
US500 could rebound from its pivot level. Keep an eye on ISM Services PMI data for further direction on this index.
BTC/USD (Bitcoin)
- Potential Direction: Bullish 📈
- Overall Momentum: Neutral
- Pivot Level: 54,351.19
- 1st Support Level: 51,330.62 (Swing-low support)
- 1st Resistance Level: 59,123.59 (Swing-high resistance)
- Technical Indicators Used: Overlap Support, Swing Low, Fibonacci Retracement
- Upcoming Economic Events:
- 23:30 USD – API Weekly Crude Oil Stock (Aug 30)
Bitcoin is approaching its pivot and could see a bullish bounce. The upcoming data on crude oil stocks may indirectly affect market sentiment.
ETH/USD (Ethereum)
- Potential Direction: Bullish 📈
- Overall Momentum: Neutral
- Pivot Level: 2,289.04
- 1st Support Level: 2,044.47 (Swing-low support)
- 1st Resistance Level: 2,575.58 (Multi-swing-high resistance, 50% Fibonacci Retracement)
- Technical Indicators Used: Multi-Swing Low, Swing High, Fibonacci Retracement
- Upcoming Economic Events:
- 02:30 JPY – Overall Household Spending (YoY) (Jul)
Ethereum could bounce upwards after testing its pivot. Economic data releases, including Japanese household spending, could affect broader market sentiment and impact ETH indirectly.
WTI/USD (Oil)
- Potential Direction: Bullish 📈
- Overall Momentum: Bearish
- Pivot Level: 69.83
- 1st Support Level: 68.29 (Swing-low support)
- 1st Resistance Level: 72.61 (Pullback resistance)
- Technical Indicators Used: Swing Low Support, Pullback Resistance
- Upcoming Economic Events:
- 18:00 USD – EIA Crude Oil Stocks Change (Aug 30)
Oil prices could see bullish movement after reaching its pivot level. The EIA Crude Oil Stocks Change will be a key driver for WTI/USD.
XAU/USD (Gold)
- Potential Direction: Bearish 📉
- Overall Momentum: Bearish
- Pivot Level: 2494.29
- 1st Support Level: 2473.76 (Overlap support, 38.20% Fibonacci Retracement and 161.80% Fibonacci Extension)
- 1st Resistance Level: 2526.17 (Multi-swing high resistance)
- Technical Indicators Used: Pullback Resistance, Overlap Support, Fibonacci Retracement, Fibonacci Extension
- Upcoming Economic Events:
- 17:00 USD – ISM Services Employment Index (Aug)
- 17:00 USD – ISM Services Prices Paid (Aug)
Gold may drop from its pivot to the first support level. Upcoming US data on employment and service prices could further impact the XAU/USD movement.
By utilizing this comprehensive market analysis, traders can make informed decisions based on key technical indicators and upcoming economic events. Keep an eye on these crucial levels and stay updated with economic data releases to maximize trading performance.
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