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Yen Rises Ahead Of Japan Consumer Confidence Index

The Cabinet office is slated to release the Japan consumer confidence index for December at 12:00 am ET Tuesday.

Ahead of the data, the yen rose against its major rivals.

As of 11:55 pm ET, the yen was trading at 122.48 against the euro, 140.20 aga…

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Australian Dollar Recovers Against Most Majors

The Australian dollar recovered from early lows against most major currencies in the Asian session on Tuesday.

The Australian dollar rose to nearly a 4-week high of 0.7384 against the U.S. dollar and a 6-day high of 0.9755 against the Canadian dolla…

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Fxwirepro: Nzd/usd Eyes 200-Dma at 0.7080, Good to Go Long on Dips

Technical Analysis:

  • NZD/USD hit fresh 3-week high at 0.7047, intraday bias higher.
  • Potential ‘Bearish Cypher’ pattern seen on daily charts.
  • Momentum studies bullish, scope for test of 200-DMA at 0.7080.
  • However, ‘Death Cross’ (50-DMA and 200-DMA) evidenced, so caution advised.

Fundamental Factors:

  • Recovery seen across the commodities’ space, particularly in oil and copper prices which is supporting commodity currencies
  • Markets look past bearish Chinese CPI data
  • Focus now remain on the upcoming US jobs data for some fresh incentives.

Support levels – 0.70 (23.6% Fib of 0.74854 to 0.68621 fall), 0.6999 (5-DMA), 0.6953 (20-DMA)

Resistance levels – 0.7069 (50-DMA), 0.7080 (200-DMA), 0.7100 (38.2% Fib)

Recommendation: Good to go long on dips around 0.70, SL: 0.6950, TP: 0.7050/ 0.7080/ 0.71

FxWirePro Currency Strength Index: FxWirePro’s Hourly NZD Spot Index was at 102.759(Highly bullish), while Hourly USD Spot Index was at -97.5576 (Bearish) at 0440 GMT. For more details on FxWirePro’s Currency Strength Index, visit

The material has been provided by InstaForex Company –

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Technical analysis of EUR/USD for Jan 10, 2017

When the European market opens, some economic data will be released such as French Industrial Production m/m. The US will release the economic news too such as Final Wholesale Inventories m/m, JOLTS Job Openings, and NFIB Small Business Index. So amid …

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Technical analysis of USD/JPY for Jan 10, 2017

In Asia, Japan will release the Consumer Confidence. The US will release a series of economic data such as Final Wholesale Inventories m/m, JOLTS Job Openings, and NFIB Small Business Index. So there is a probability the USD/JPY pair will move with low…

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Technical analysis of NZD/USD for January 10, 2017

NZD/USD is expected to trade with a bullish bias. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index stands firmly above its neutrality level …

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Technical analysis of GBP/JPY for January 10, 2017

GBP/JPY is under pressure. The pair broke above its 20-period moving average but is still trading below the declining 50-period one, which is still playing a resistance role and maintains the downside bias. The relative strength index is around its neu…