Forex Tradnig Asia Preview 26th Nov

Hi traders, this is Brad with the Asian preview. All right, now just looking at the uh finish of the North American session here. We still got a bit of time to go, but it's uh pretty much the same theme all week. US equity markets use u moving very uh very small amounts hardly. You would think they would hardly open, but there was uh no major changes in in the economic numbers. Just looking at the dollar index though, there has been a bit of activity here in the dollar. it did pop up above um 100 and um that's that's something to keep an eye on as we go forward. It's probably, you know, a bit of a telltale sign that we've got a high there and it's come off. But the main thing is to work out why that high is there. Okay. And uh it really comes back down to if I just get rid of that right in there. Come over to the euro. Okay. We did see a uh a nice pull back from 10 107 just under 107 the figure down under 106 with that new low down here around 105 uh sort of 60 65 okay this whole move here um came about the ECB are planning on a two-tiered rate scheme okay um the market generally thinks it allows for a bigger cut right so that's the whole sort of more easing they're preparing for much bigger cuts in Europe much deeper than negative. I don't know where that goes to, but it's that's the telltale sign. That's what has um yanked that dollar index up, but didn't really like it above that parody level. Now, just coming have a look just a bit of a review of the major currency pairs. Okay, these are your sort of current levels for the moment for the Aussie. Um let's get uh the main trend line analyzer here. This is one of the best tools. If you've got Zenith, make sure you click on this uh tool here. it will give you the the key levels here and you can actually see very clearly 72 79 on the top side and uh 7231 are your two immediate levels here and that corresponds with these levels up here. All right, so that's your Aussie. I'll just quickly whip through the other currencies. Not a lot of activity outside of the um uh euro once again. The uh Kiwi did has been trying to push that 6580 or 66 the figure level just hasn't had enough to get through that level. So slowly crawling higher. Don't don't forget we are besides Thanksgiving we are starting to come into month end uh uh fixing and then you know you get get the month end profit taking as well. Dolly also the same sort of thing. It's back in the range back in the cloud. um had a nice little clean out to the downside I got to say, you know, down through uh sort of 12280 down to 12225. Now we're back up to the cloud. You do have this new resistance line on the top side after this high was formed and you want to keep an eye on that as we go through that session. I still like selling dollar yen actually to be honest on a rally back towards that trend line. Okay. And uh just coming back over here. Sorry, clear some of these writing. Okay, Euro. Well, we've already had a bit of a look at Euro. You're looking at uh 10674 now is that key level on the top side. And there's not much more to write about. You just got to look to get short. Prepare yourself. Put orders in to get short as well. This thing is going down. It's just a matter of hanging in there. Uh okay. Now, sterling, we got some uh major levels here. Uh 15185 on the top side. Okay, 15054 uh on the downside. Once again, I'm getting these from the trend lines. It does pick up where the current market is on these trend lines. So, it's pretty easy to work out where the levels are if you're using Zenith. Once again, just coming back over here to uh Dollar CAD. I just get up the analyzer there. Okay. Looking at 13 285 on the downside. It's too steep a trend line here to be drawing that straight down. So your level on the top side up up the very top here is 13434 you know 150 60 points away. So it's pretty tough. But one of the key things to look at here on um dollar CAD is see oil is now back at 42 bucks 43 bucks. So oil going this way should make dollar CAD go down as well. So keep an eye on that as we go through that uh you know the next 24 hours anyway. All right. Now, let's just come back over here to uh like hone into the uh the local currency pairs. We already had a look at the technical side of things. Now, just having a look at the fundamentals. Um there's the uh capital expenditure. That's it's actually got a bit of backbone this number. Uh it's not really a high impacting one, but it does give you a look at structural sort of consumer business confidence with capital expenditure. So, have a look at that's 11:30 uh Sydney time. If you come back over here to the uh flightless bird, right, we had the trade balance figures out today actually, which comes out at an hour and a half, hour and 40 minutes. Uh not a huge number, but you know, I've seen Stranger Things move the market. So, just if you are have got Kiwi positions, just be aware that is coming out. Uh looking at Dolly, as I mentioned, uh we do have a nice new uh resistance line on the top side and we've got a new support line on the downside. The currency is currently in the cloud, you know, the sort of barroom brawler around. So, I'm just going to be watching that uh watching the the equity markets, I should say. The Nikai futures suggesting the dollar the Nikai opens up 90 points up and that's your benchmark for uh for trading the Nikai. So, you know, if it goes opens up 100, well, that's that means it's really up 10 for that day as a new start. If it opens up say plus 80, well, it's down 10 points from where it should be. That's the way we look at it. And uh so Nikai down, dollar down, dollar yen down, nik eye up, dollar yen up. Pretty easy. Pretty easy stuff. Just having a good look at the last part. The yen crosses. All right. During that Asian session, you want to have a good look at this. Um okay, we've got uh Euro Yen still looking pretty good. Um the rest of Oh, actually, sorry, one other one, too. So, Euroyen looks pretty good. Nice sell up here with the cloud and the um and the trend line also. Sterling again is starting to look very appealing. Um you know Sterling has had a tough week again but that's the best look of it. The rest of these the sort of uh currencies are already through the cloud so I'm not really that keen on those currency pairs. The uh so probably you know euro yen sterling yen look to be the best pick of the bunch for the yen crosses. That pretty much covers us for the day guys. Not much out. Don't forget it is Thanksgiving uh in the US uh Thursday. So we you know it's going to be very quiet conditions. The market will be very illquid as well. So if something does happen geopolitically um you know planes going down all over the place then you can expect some pretty volatile moves. Uh still looking to sell euro on rallies. Um that's probably the most clearcut uh trade at the moment. All right chaps. We'll catch you later on. Have a good one. Cheerio.