Forex Analysis 30 January 19

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Dollar Index:

Time Frame: 4 Hour

Price is currently trading on 4-hour trendline support and creating a bearish wedge. There is alot of US data out today along with Interest rate decision and FED talks. A bullish break will see price rally to the resistance level and a bearish break will push price to the weekly support level.

XAUUSD Analysis

Time Frame: Daily

Gold is trading near weekly resistance levels after last weeks resistance levels were broke and price has continued to rally. Technically one could expect a pull-back to support levels before further continuation could be expected if the dollar data this week is bad.

EURUAD Analysis

Time Frame: Daily

EURAUD is in a bearish corrective structure on the daily time frame. After breaking the daily trendline with the impulsive move to the down-side we are busy forming a bearish flag for another impulse move to the downside.

EURCHF Analysis

Time Frame: Daily

EURCHF has broken through the neckline of the head and shoulders pattern I mentioned a couple weeks was going to happen. A pullback to the resistance level it smashed through which will now act as support will be your second chance to profit from this trade. Target is indicated on the chart.

EURCHF Head and Shoulders patter by TheShredded_FX_Trader on TradingView.com

The Bank of England

The Bank of England is the central bank of the United Kingdom. It was established in 1694 and was privately owned in the beginning, the Bank was nationalized in 1946 so now is completely owned by the UK government. BOE’s main reason to be is to maintain monetary and financial stability in the country. Some of its other tasks are producing secure bank notes, operating asset purchase facility and keeping the inflation low and stable.

The European Central Bank (ECB)

The European Central Bank (ECB) is the central bank empowered to manage monetary policy for the Eurozone and maintain price stability so that the euro’s purchasing power is not eroded by inflation. The ECB aims to ensure that the year-on-year increase in consumer prices is less than, but close to 2% over the medium term. Another of its tasks is the one of controlling the money supply. The European Central Bank’s work is organized via the following decision-making bodies: the Executive Board, the Governing Council, and the General Council. Mario Draghi, a member of the Executive Board, is also the President of this organism.

The Federal Reserve Bank (Fed)

The Federal Reserve System (Fed) which is the central banking system of the United States. Fed has two main targets: to keep unemployment rate to their lowest possible levels and inflation around 2%. The Federal Reserve System’s structure is composed of the presidentially appointed Board of Governors, partially presidentially appointed Federal Open Market Committee (FOMC). The FOMC organizes 8 meetings in a year and reviews economic and financial conditions. Also determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth.

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