S&P 500 Teeters on Precipice as Trump Trails Biden in Swing States

The S&P 500 index may be on the verge of breaking down as Biden continues to lead Trump in swing states but faces a narrower margin in general election polls.
Source: News FX

AUD/USD Price Outlook: Aussie Defends 0.7200 Level as VIX Jumps

The Australian Dollar took a nosedive during Monday’s trading session due to a flareup in market volatility, but AUD/USD price action based around the 0.7200-price level as the VIX ‘fear-gauge’ sta…
Source: News FX

Nikkei 225 & ASX 200 Price Forecast: Stock Selloff Sees Support Broken

An abrupt reversal in risk assets has seen the Nikkei 225 and ASX 200 fall beneath nearby support, threatening further losses. Here are the levels to watch in the days ahead.
Source: News FX

Dollar vs Mexican Peso Outlook: USD/MXN Rally Eyes Trend Resistance

Mexican Peso is under pressure this week with a recovery in USD/MXN taking price into downtrend resistance. Here are the levels that matter on technical charts.
Source: News FX

Gold Price Breaks Lower as Risk Aversion Spikes and Volatility Soars

Gold suffered a bearish breakdown to start the week as risk aversion spiked across global markets. Typically viewed as a safe haven commodity, gold seems to have been caught in the crossfire.
Source: News FX

USD Price Outlook: US Dollar Ripping Higher as Markets Swoon

The US Dollar is advancing sharply as markets accelerate lower on the back of mounting risk aversion. Can USD price action continue its ascent or will the DXY Index recoil lower?
Source: News FX

Dow, Nasdaq Price Forecast: US Stocks September Slide Continues

Both the Dow and Nasdaq have shown different tonalities since the September open, with reversal tendencies showing after the blistering rallies that took hold through the summer.
Source: News FX

USDCAD analysis for 21.09.2020

New Housing Price Index will be published in Canada. USDCAD is holding the ascending trend line.
The pair is finding support at 1.31530 with resistance at 1.32500 which the weekly pivot point at 1.31930 is located in between the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is located below the EMA of 200 and above the EMA of 100. The RSI is moving above level 50, the MACD line is above the signal line in the positive territory and the Stochastic is moving in high ranges. The ADX is showing buy signal. The price is above the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing an upward trend and the Kijun-sen is showing a horizontal trend.
Long positions are recommended towards 1.3265.

usdcad
Source: fxglory

USDJPY analysis for 21.09.2020

There are no major economic reports in Japan. Yen is moving stronger against USD but USD is growing before the Fed members’ talks.
The support rests at 104.030 with resistance at 104.600 which both lines are below the weekly pivot point at 105. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
The support level breakthrough may push the price down towards 103.500 however it seems that USDJPY is consolidating on the lower Bollinger band. The correction pattern can be expected soon.

usdjpy
Source: fxglory

EURUSD analysis for 21.09.2020

EUR is moving flat and today there will be speeches of ECB president Christine Lagarde and Fed chairman Jerome Powell.
The support rests at 1.18460 with resistance at 1.18860 which both lines are above the weekly pivot point at 1.18270. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and below the EMA of 100. The RSI is falling towards level 50, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
The resistance level breakout will push the price towards the upper Bollinger band at 1.18900; otherwise there is a possibility of price decline towards the previous low at 1.17400.

eurusd
Source: fxglory