FxWirePro- Major US Indices 
BOJ Signals Possible December Rate Hike as Yen Weakness Raises Inflation Risks 
BOJ Seen Moving Toward December Rate Hike as Yen Slides 
Yen Storm Hits EURJPY: Crashes Below 181 – Sell the Bounce Intraday! Target 179.50 with Tight Stop Above 181.45 
FxWirePro: NZD/USD sustains gains as uptrend remains strong 
Kazakhstan Central Bank Holds Interest Rate at 18% as Inflation Pressures Persist 
FxWirePro: AUD/USD consolidates gains ,remains on positive footing 
Fed Rate Cut Odds Rise as December Decision Looks Increasingly Divided 
FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption 
FxWirePro- Major European Indices 
EURGBP Buckles Under Sterling Surge – Bears Eye 0.8600 as 0.8800 Ceiling Holds Firm 
Ethereum Holds Firm Above $3,100 Despite Dip – Fresh Breakout to $3,600+ Looming as Bulls Defend Key Support 
FxWirePro: GBP/NZD edges higher but bearish outlook persists 
GBPJPY Eyes 208: Pound Pulls Back, Bulls Guard 206 
Technical Chart and Candlestick Patterns: Please be noted that EURAUD slumps below 7 & 21-DMAs after the failure swings at the stiff resistance areas of 1.6040 – 1.6066 levels (refer daily plotting).
The occurrence of shooting star at 1.60 levels plummets prices below DMAs, while bulls attempt to counter yesterday, but all technical indicators bearish bias.
Both RSI & fast stochastic curves are showing downward convergence to indicate selling momentum. For now, more slumps are likely on bearish DMA and MACD crossovers.
On a broader perspective, back-to-back shooting stars pop-up at peaks coupled with the overbought signal by leading oscillators, while major trend goes in range but slightly bearish bias (refer monthly chart).
Overall, previous months’ rallies are exhausted and bears resume but the major trend is still stuck in the range with lingering bearish biasness. Hence, the previous upswing seems unlikely to prolong as both leading and lagging indicators are indicating the prevailing bearish sentiments (refer monthly chart).
Trade tips: On trading perspective, at spot reference: 1.5758 levels, contemplating above technical rationale, we advocate boundary options spread with upper strikes at 1.5793 and lower strikes at 1.5730 levels, the strategy is likely to fetch leveraged yields as long as underlying spot FX remains between these strikes on the expiration.
Alternatively, on hedging grounds, we advocate directional hedging strategy as European central bank is lined up for monetary policy meeting today, following the ECB’s surprisingly dovish message last week, signaling no hikes in 2019, we see significantly less upside for EURAUD in the near term, the pair could probably show slumps further in the near term.
Hence, it is wise to initiating shorts in EURAUD futures contracts of Apr’19 delivery as further downside risks are foreseen and simultaneously, longs in futures of May’19 delivery for the major downtrend. Thereby, one can directionally position in their FX exposures. The directional implementation of the same trading theme by further allow for a correlation-induced discount in the options trading also if you choose strikes appropriately.
Currency Strength Index: FxWirePro's hourly AUD spot index is inching towards 153 levels which is highly bullish), while hourly EUR spot index was at 33 (mildly bullish) while articulating (at 08:02 GMT).
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex
