AUD USD: Weekly Review 25 February to 1 March 2019

AUD was bullish until Australian Bureau of Statistics release quarter to quarter Construction Work Done. Though it was slightly better than previous quarter (3.6 percent) much lower than expected value of 0.6 percent. The value is still better but way slipped than expected, the announcement start the bearish route. A 3.1 percent is much lower than expectations of economists as well as traders.

From that point all the way till market close total bearish. The Aussie supportive reasons like, formal suspension of the planned tariff increase on Chinese goods 'Until Further Notice' [decision by President Donald Trump to temporarily delay his Friday deadline] and Britons 'no deal' Brexit scenario announced by Prime Minister May have started losing its strength.

As AUD on bearish mostly against all major currencies on second half of the trading week, even a better Australian Performance of Manufacturing Index (PMI) recovery - 54.0 points - cold not enough turn the currency to bullish.

AUD never recovered after unhealthy construction index.

Open (on Monday, 25 Feb 2019) 0.71252
High (on Wednesday, 27 Feb 2019) 0.71988
Low (on Friday, 1 Mar 2019) 0.70698
Close (on Friday, 1 Mar 2019) 0.70800

AUDUSD: Aussie Intraday Forecast 08 February 2019

Traders are in selling mood, the RBA (Reserve Bank of Australia) also released a much dovish SoMP (Statement of Monetary Policy) keep the Australian dollar in bearish mood.

RBA in a statement, revised downwardly its growth forecast for GDP substantially. In GDP forecast, RBA now projects 2.8 percent year to year for December 2018, 3.0 percent for December 2019, lesser 2.7 for December 2020 and same for December 2021.

Australian policy makers said the prospect of a rate hike or rate cut is more evenly balanced than previously thought. They also do not see any strong case to change rates in near future.

Australian Statement of Monetary Policy February 2019

As of 05:00 UTC the AUD trading at 0.7074 ~ 0.7075. As there no more events or news that can affect economy or traders mind, 0.70 may turn to be a support.

AUDUSD Strong selling mood of traders reflect in strong bearish movement.

The price may go up until 0.71xxx or go below 0.70xxx
The intraday forecast for AUDUSD:
Today opened at 0.71022, touched High of 0.71052, went Low to 0.70606

Right now struggling at 0.7.07 even though the traders are slowly changing mood from selling to buying. But being last day of the week, we cannot expect much change.

XAUUSD: Gold poised for deeper correction

Precious yellow metal poised for deeper correction, before stabilize to $1320.00
On Wednesday it closed on $1306.30 and now hovering at $1307~1308
Expected range today is 1303 ~ 1310
If GOLD raise to 1310 new support will be formed or new resistance will be formed around 1303.

XAUUSD hourly chart on 07 February 2019

GBPUSD Weekly Review Jan 28 ~ Feb 1 2019

Sterling pound is fully bearish except on Wednesday, following dovish FOMC.

British currency opens on Monday at 1.31830 and touches high sameday at 1.32118, but bearish force GBP to register red bar. On Friday it touches low point 1.30433, recovered a bit to close on 1.30744

After six bullish weeks in a row, gain of 4.0 percent, a 0.93 percent loss, due to traders confusion over British stand on BREXIT. Overall, British PM Theresa May failure to convince government stand, GBP failed to advantage of weaker US Dollar.

    Open (on Monday, 28 Jan 2019) 1.31830
    High (on Monday, 28 Jan 2019) 1.32118
    Low (on Friday, 1 Feb 2019) 1.30433
    Close (on Friday, 1 Feb 2019) 1.30744
Weekly loss of GBP (British Pound) against US Dollar is -0.01230 (-0.93 percent)

GBPUSD Hourly Chart Weekly Review 28th Jan to 1st Feb 2019

AUDUSD Chinese PMI Disturbs Bullish Trend!

Aussie declined from two month high 0.72952 after China's weaker Manufacturing PMI at 48.3 (expected 49.5), trading around 0.72365 and slowly recovering to  0.72600.

It also waiting for Non-Farm Employment Change and Unemployment Rate to be announced in few hours. If there are any unexpected outcome will decide on AUDUSD signal as well.

AUDUSD Price affected by Chinese PMI

EUR/USD: Jan-23 2 weeks bearish move continues @ 1.1370

EUR/USD the weakened the greenback may further put down  the pair. Daily high @ 1.1373, low @ 1.1335. This is lowest since Jan 3.

Last Price: 1.1368
Daily change: -0.0001 pips
Daily change %: -0.01%
Daily Open: 1.1369