FOREX Weekly Report Powered by Future Investment www.futureinvestments.sg Monday 18 th Feb 2019 Market Overview The US dollar rebounded from three year lows against a currency basket on Friday but still ended the week lower as a combination of fears over the perceived erosion of its yield advantage and the outlook for the U.S. fiscal deficit weighed. The U.S. Dollar index, which measures the greenback s strength against a basket of six major currencies, was up 0.63% to 89.03 in late trade, having earlier sunk to a three year low of 88.15. The EURO ended the day lower, with EUR/USD last down 0.79% at 1.2405 after hitting its highest level since 2014 at 1.2555 earlier in the day. The Dollar was steady against the yen in late trade, with USD/JPY at 106.19 after hitting a fresh 15-month low of 105.55 earlier. The Japanese currency has gained around 6% against the dollar so far this year. Meanwhile, sterling was last down 0.49% at 1.4028 after reaching a weekly high of 1.4144 earlier. In the week ahead, investors will focus on minutes of the Fed s latest policy meeting with hopes of the central bank will give more hints on the pace of future rate hikes this year. Staying in the U.S., a report on existing home sales will be the highlight of the holiday shortened week. Markets stateside will remain closed on Monday for the President s day holiday. GBP/USD Price Forecast The British pound has initially fallen during the trading session on Wednesday but found enough support underneath at the 1.32 level to turn around and show signs of bullishness. We believe that the 1.40 level is very important though. The GBP/USD pair has rallied significantly during the session on Wednesday after falling before that. We think the 1.40 level above is going to be a target initially, but if we can break above there, and perhaps more important 1.4050 level, the market should continue to go even higher, reaching towards the 1.4150 handle. We do believe in longer term uptrend, as we think that the US Dollar will continue to struggle in general. These will be especially true if the treasury markets continue to sell off, as we have seen a lot of negativity in them recently. Indices Week Open Week Close Change NASDAQ 6941.20 7055.18 +113.98 DOW JONES 25168.54 25883.16 +714.62 NIKKEI 20442.55 20900.63 +458.08 HANGSENG 27927.45 27900.84-26.61 Currencies Week Open Week Close Change DXY 96.66 96.92 +0.26 EURUSD 1.1318 1.1291-0.0027 GBPUSD 1.3075 1.3072-0.0002 AUDUSD 0.7245 0.7226-0.0019 AUDNZD 1.0511 1.0486-0.0025 USDCHF 0.9952 0.9968 +0.0016 USDCAD 1.3100 1.3098-0.0002 USDJPY 109.52 109.71 +0.19 EURJPY 125.44 125.55 +0.11 GBPJPY 143.19 143.42 +0.42
USDCHF GBPUSD Weekly Strategy: SHORT USD/CHF BELOW 1.0043, TARGET 0.9990/0.9970, STOP LOSS 1.0090 Weekly Strategy: LONG GBP/USD ABOVE 1.2885, TARGET 1.2935 /1.2950, STOP LOSS 1.2835 AUDUSD EURGBP Weekly Strategy: LONG AUD/USD ABOVE 0.7135, TARGET 0.7175/0.7190, SLTOP LOSS 0.7100 Weekly Strategy: SHORT EUR/GBP BELOW 0.8790 TARGET 0.8745/0.8735 STOP LOSS 0.8825
Currency Weekly Technical Report Feb I 18 th 2019 Currency Trend S2 S1 LTP R1 R2 EURUSD Sideways 1.1220 1.1250 1.1291 1.1310 1.1344 GBPUSD Bearish 1.2810 1.2860 1.2887 1.2898 1.2960 USDCHF Bullish 0.9906 0.9920 0.9969 0.9991 0.9998 USDJPY Sideways 109.55 110.22 110.45 111.14 111.5 USDCAD Bearish 1.3160 1.3190 1.3245 1.3340 1.3375 AUDUSD Bullish 0.7000 0.7048 0.7137 0.7149 0.7300 EURGBP Bearish 0.8700 0.8718 0.8758 0.8844 0.8865 AUDNZD Bearish 1.0300 1.0360 1.0395 1.0407 1.0442 GBPCHF Sideways 1.2846 1.2881 1.2951 1.2962 1.3016 EURCAD Bearish 1.4908 1.4922 1.4954 1.4978 1.5026 CHFJPY Sideways 109.40 109.74 109.83 109.92 110.21 EURAUD Bearish 1.5680 1.5710 1.5808 1.5846 1.5949 EURNZD Bearish 1.6322 1.6404 1.6442 1.6477 1.6575
FUTURE INVESTMENT FOREX TRACKSHEET - FEBRUARY 2019 DATE CURRENCY PAIR POSITION ENTRY PRICE TGT 1 TGT 2 STOP LOSS STATUS Profit (Pips) STANDARD LOT SIZE 1/2/2019 USD/JPY BUY 108.7 109 109.2 108.4 TARGET 50 1.0000 500 4/2/2019 EUR/CAD BUY 1.4978 1.5009-1.495 TARGET 31 1.0000 310 4/2/2019 EUR/CHF SELL 1.1428 1.1368-1.1428 TARGET 60 1.0000 600 5/2/2019 USD/CAD BUY 1.3123 1.316 1.317 1.3088 TARGET 47 1.0000 470 5/2/2019 EUR/GBP BUY 0.8769 0.8796 0.8806 0.874 TARGET 37 1.0000 370 5/2/2019 NZD/USD BUY 0.6901 0.6932 0.6942 0.6868 STOP LOSS -33 1.0000-330 6/2/2019 EUR/CAD BUY 1.5031 1.508-1.498 TARGET 49 1.0000 490 6/2/2019 USD/CAD BUY 1.3198 1.3241-1.3155 TARGET 43 1.0000 430 6/2/2019 CAD/JPY SELL 83.06 82.71 82.61 83.45 TARGET 45 1.0000 450 7/2/2019 GBP/CHF BUY 1.2962 1.3002 1.3017 1.296 TARGET 55 1.0000 550 7/2/2019 EUR/GBP BUY 0.8799 0.8829 0.8839 0.877 STOP LOSS -29 1.0000-290 8/2/2019 USD/CAD SELL 1.3329 1.3305-1.335 TARGET 24 1.0000 240 11/2/2019 USD/JPY BUY 110.28 110.58 110.68 109.2 TARGET 40 1.0000 400 11/2/2019 CHF/JPY SELL 109.99 109.75-110.3 TARGET 24 1.0000 240 12/2/2019 USD/CHF BUY 1.0052 1.0072 1.0082 1.0031 TARGET 30 1.0000 300 12/2/2019 GBP/USD BUY 1.2844 1.288-1.2814 TARGET 36 1.0000 360 13/2/2019 GBP/CHF BUY 1.3 1.305 1.306 1.2946 STOP LOSS -54 1.0000-540 14/2/2019 GBP/USD SELL 1.285 1.2815 1.2805 1.2885 TARGET 45 1.0000 450 14/2/2019 EUR/GBP BUY 0.8804 0.883 0.884 0.8775 TARGET 36 1.0000 360 14/2/2019 GBP/CAD SELL 1.7004 1.6954 1.694 1.706 profit booked 64 1.0000 640 15/2/2019 AUD/USD BUY 0.7105 0.713 0.7138 0.708 TARGET 33 1.0000 330 15/2/2019 GBP/JPY BUY 141.63 142 142.1 141.1 TARGET 47 1.0000 470 PROFIT (USD) Net Profit in Pips 680 6800 USD
ECONOIMIC DATA FOR THE WEEK Date Currency Data Forecast Previous 19 Feb, 2019 AUD Monetary Policy Meeting Minutes - - 19 Feb, 2019 GBP Average Earning Index 3m/y 3.5% 3.4% 21 Feb, 2019 USD FOMC Meeting Minutes - - 21 Feb, 2019 EUR German Flash Services PMI 52.8 53.0 21 Feb, 2019 CAD BOC Gov Poloz Speaks - - 22 Feb, 2019 NZD Credit Card Spending y/y - 4.5% 22 Feb, 2019 JPY National Core CPI y/y 0.8% 0.7%