1 October 2021, SYDNEY AUSTRALIA – VT Markets, one of the leading Forex and CFD brokers in Europe and Asia, today announce that their new office in Kuala Lumpur is now opened, to better meet the increasing needs from Malaysian clients and affiliates.

In the past seven years, VT Markets has been thriving in Asia, Oceania and Europe. However, the demands for the South-East Asia were plenty and growing. The purpose of setting up a local office in Malaysia is to provide better services, expand our scope, and enable new projects. The new office, which includes an experienced sales team and marketing team, is aiming to provide better services, expand our scope, and enable new projects. The new office will be focused on assisting with market access and Forex trade services, but mostly investment attraction into VT Market ecosystem, and service local Forex investors and affiliates.

“We are expanding globally and with the addition of our newest office in Malaysia we continue to deliver the highest levels of service to our customers while we deliver cutting edge technology to enhance their trading experience.” said Chris Nelson-Smith, Managing Director at VT Markets.

The new office is expected to start to generate sales and initiate marketing campaigns from the fourth quarter of this month. It will primarily handle customer support and affiliate inquiries from Malaysia and Indonesia region.

About VT Markets

VT Markets, based in Sydney, Australia, is a subsidiary of VT Markets LLC (VIG), and leverages more than 10 years of experience and expertise in global financial markets to offer easy and transparent market access and help our clients pursue their financial goals. Founded in 2016, VT markets has applied advanced technical support in the retail FX market to provide clients with superior trading experience.

For inquires, please contact [email protected]

Dear Client,

Warmly reminds you that the component stocks in the stock index spot generate dividends. When dividends are distributed, VT Markets will make dividends and deductions for the clients who hold the trading products after the close of the day before the ex-dividend date.

Indices dividends will not be paid/charged as an inclusion along with the swap component. It will be executed separately through a balance statement directly to your trading account, the comment for which will be in the following format “Div & Product Name & Net Volume ” .

Please note the specific adjustments as follows:

Note: The above data is for reference only, the actual execution data may be changed, please refer to the MT4 software for details.

If you’d like more information, please don’t hesitate to contact [email protected].

Daily Market Analysis

Market Focus

There were both ups and downs for US stock on Wednesday, as the decline in technology stocks weighed on equity markets and pared most of their gains into the close. Markets focus on the ongoing debt ceiling debate in Washington, where President Joe Biden tries to break a impasse among Democrats and hope to avoid a government default before Treasury potentially runs out of capacity. Nevertheless, the stock market did not mind amid the risks of negotiation failures on Capitol Hill over funding the government.

The benchmarks, the S&P 500 and the Dow Jones both advanced on Wednesday. The S&P 500 was up 0.2% on a daily basis, finishing in positive territory for the first time this week. Dip buyers helped push the index higher. The material sectors continued its bearish momentum, losing 0.39% on Wednesday. The utilities and consumer staples sectors are the best performing among all groups, climbed 1.30% and 0.87%, respectively. The Nasdaq, on the contrary, declined for the third straight day and posted a 0.2% loss for the day.

On top of that, the high inflation is also harming market sentiment, as investors worry that the high figure will persists. But Fed Chair Jerome Powell, who joined other central bankers at a European Central Bank event, seems optimistic about the issue and said that supply-chain disruptions lifting inflation would ultimately prove temporary. The concerns about slowing growth and elevated levels of inflation may continue for a while, furthermore, the US debt ceiling discussions will also be a critical issue for investors.

Main Pairs Movement:

Lead by technology firms, who suffered yesterday due to rising short term bond rates, the broad U.S. equity markets were able to recover slightly on Wednesday’s trading. The yield on a 10-year Treasury note dropped back to 1.51%, compared to 1.534% yesterday, snapping a six-day gain streak. Rising yields and rising commodity prices still pose enormous threat to the short-term outlook of equities and foreign exchange markets.

Technical Analysis:

GBPUSD (4 Hour Chart)

The Sterling continued to depreciate against the Greenback for the second straight day; in fact, Cable has dropped to a fresh low for the year. As of writing, Cable is trading at 1.3422, below the year long support level of 1.3446. Fed chair Jerome Powell’s speech on late Wednesday of the North American trading session boosted the Dollar further, as the Dollar index gained more than 0.2% post Powell’s speech. Supply chain disruption in the U.K. further added to the selling pressure on Cable.

From a technical perspective, Cable has broken through our previously estimated support level of 1.35281; furthermore, the key support level of 1.3446 has also been broken as the Dollar continues to surge. RSI for the pair has dropped through to over sold territory and is indicating 21, as of writing. Cable is trading well below its 50, 100, and 200 day SMA.

Resistance: 1.3687, 1.3717

Support: 1.3256

USDJPY (4 Hour Chart)

USD/JPY rose to new heights as the Dollar continues to rally after Fed chair Jerome Powell’s speech. Recent U.S. bond yield rally has widened the nominal yiel difference between the U.S. and Japanese government bonds, thus posing as head wind for the short term outlook for the Yen. The Bank of Japan’s yield curve control has worked against the Yen as global central banks eye on lifting pandemic era monetary measures and prepare for rate hikes.

From a technical perspective, USD/JPY posted an annual high today as the pair trades at 112, as of writing. RSI for USD/JPY has reached over baught territory and is currently at 75.36. With 2020’s annual high of 112.22 in sight, USD/JPY faces minimal headwind as there are no significant resistance levels above 112 until . USD/JPY is currently trading above its 50, 100, and 200 day SMA.

Resistance: 114

Support: 110.43, 109.67, 109.21

XAUUSD (4 Hour Chart)

XAU/USD continues to slide lower as the Dollar gains strength. Gold was able to gain during the Asia and Europe trading hours, but the pair was unable to hold on to gains as investors turned their attention to Fed chair Jerome Powell’s speech. The pull back on U.S. Treasury bond yields have limited the downside for XAU/USD. Energy crisis in China has helped the Greenback gain back its global reserve currency status. Today’s “risk on” sentiment, evident from the rebound of U.S. equity markets, have also limited any gains for XAU/USD.

From a technical perspective, XAU/USD has dropped below our previously estimated support level of 1725.51, following Fed chair Jerome Powell’s speech and the subsequent Dollar rally. If XAU/USD breaks below the 1725.51 support level, the pair will struggle to find support until around the 1680 price region. RSI for the pair is at 34.8, indicating modest over selling in the market. As of writing, XAU/USD is trading below its 50, 100, and 200 day SMA.

Resistance: 1759.27, 1779.04, 1808.42

Support: 1742.39, 1725.51

Economic Data

Daily Market Analysis

Market Focus

US stock tumbled on Tuesday, dropping the most since May. The concern over the debt-ceiling deadlock in Washington had accelerated the selloff in risk assets. Republicans blocked a Democratic move in the senate to raise the debt limit, even though it’s only less than three weeks before the Treasury potentially runs out of capacity around October 18. Therefore, a government shutdown is a risk factor that investors will be watching in the coming days and weeks.

The benchmarks, the S&P 500 and the Dow Jones both declined on Tuesday. The S&P 500 was down 2% on a daily basis, extending its September selloff. The energy sectors continued its bullish momentum, rising 0.46% on Tuesday. The info tech and communication service sectors are the worst performing among all groups, dropped 2.98% and 2.8%, respectively. The Nasdaq, in the same way, declined the most since March and posted a 2.8% loss for the day.

In addition to the concern about a federal payments default, US senator Elizabeth Warren said that Fed Chair Jerome Powell is a dangerous man and she’ll oppose his renomination, this also weighed on the market sentiment. On top of that, US consumer confidence fell in September for a third straight month, showing that people still worried about the delta variant. Higher prices also continued to hurt sentiment. The surging energy prices keep heating up the inflation and implicate the economic recovery.

Main Pairs Movement:

The broad U.S. equity market experienced a pullback due to rising short term bond yields and markets participants reacting to the worse than anticipated consumer confidence report. Short term bond yields have been affected by a potential delay of payment as Treasury Secretary Janet Yellen told Congress that the government could reach its borrowing limit by October 18^th. Rising bond yields, in theory, should strengthen the U.S. dollar; in fact, the DXY, which measures the dollar against a basket of major currencies, has risen for the third consecutive day.

Most currencies declined against the Dollar as the Greenback gained strength on the back of brewing “risk off” sentiment and rising yields. Cable struggled as domestic woes continue and the Dollar gained strength throughout the trading day. GBP/JPY dropped to a fresh weekly low as the Pound suffered. Gold continues to decline as the Greenback comes out ahead as the safe haven asset of choice.

Technical Analysis:

GBPUSD (4 Hour Chart)

Cable tumbled during Tuesday’s trading. Sterling lost more than 1% against the dollar as the Greenback gained strength amid soaring short term U.S. bond yields. Cable dropped to its lowest level since July and is trading at 1.3536, as of writing. Concerns for the Pound’s short term outlook has been exacerbated due to the recent supply disruption of fuel in the U.K.. It is also important to note that BoE’s Governor Bailey’s speech, yesterday, sheds light on the concerns over a slower than expected recovery of the labour market, thus the BoE’s recent hawkish tone could, again, turn dovish if recovery signals shows signs of weakness.

On the technical perspctive, Cable has broken through the two levels of support, at 1.3665 and 1.3603. As of writing, the pair seems to have found support around the 1.352 price region. RSI for the pair sits at 27, indicating strong over selling. Cable is trading below its 50, 100, and 200 day SMA.

Resistance: 1.3687, 1.3717

Support: 1.35281, 1.3446

GBPJPY (4 Hour Chart)

Risk averision sentiment has helped propelled the Yen against the Sterling; however, speculators are now betting on the BoE’s hawkish stance and a possible rate hike ahead of the U.S. Fed. Potential rate hike and a hawkish BoE has helped contain losses in the pair. On the other hand, strong headwinds persist for the Pound. A combination of feul supply disruption and intensifying enery crisis in Europe and China has hindered upward movement of the Pound.

On the technical perspective, GBP/JPY wiped out most of yesterday’s gain and currently trading near the key support level of 150. RSI for the pair sits at 46.4, indicating a neutral market. GBP/JPY is trading below its 50, 100 day SMA but above the 200 day SMA.

Resistance: 151.356, 152.555, 153.2886

Support: 150.602, 150.168, 149.129

XAUUSD (4 Hour Chart)

XAU/USD suffered on Tuesday’s trading as the Dollar continues to gain strength on the back of rising U.S. bond yields and a hawkish Fed. XAU/USD fell, as much as, 0.8%, intraday, attributed to weak Gold buying, market sentiment turning slightly “risk off”, and investors rushing to the safe haven Dollar as short term bond yields increase. Investors will be looking out for Fed Chair Jerome Powell’s speech, scheduled for later tomorrow, as it could bring further volatility to XAU/USD.

On the technical perspective, XAU/USD has dropped below our previously estimated support level of 1742.39, and the pair is trending lower towards the next immediate support level of 1725.21. RSI for the pair sits at 37, indicating bearish buying sentiment. XAU/USD is trading below its 50, 100, and 200 day SMA.

Resistance: 1759.27, 1779.04, 1808.42

Support: 1742.39, 1725.51

Dear Client,

Please note that adjustment on following products due to Chinese National Day ,and Chung Yeung Festival.

If you have any questions, our team will be happy to answer your questions. Please mail to [email protected] or contact the service online.

Daily Market Analysis

Market Focus

There were both ups and downs in US stock market on Monday, as 10-year treasury bond yields rising sharply amid investors’ expectations about monetary tightening. Investors now pull the possible timeline of rate hike forward after Fed Chair Jerome Powell announced that the Fed could start bond tapering in November at the earliest. A decline in bonds sent the yields briefly above 1.55, which is the highest level in June, and caused some of the world’s biggest technology companies continued to sell off.

The benchmarks, the S&P 500 and the Nasdaq both declined on Monday. The S&P 500 was down 0.3% on a daily basis, ending in negative territory for the first time in recent three trading sessions. The real estate sectors continued its bearish momentum, dropping 1.71% on Monday. The energy and financials sectors are the best performing among all groups, climbed 3.43% and 1.31%, respectively. The Dow Jones, on the contrary, posting a 0.2% gain for the day.

The higher yields weighed especially on the overstretched growth stocks in the technology sector, which have low dividend yields. On top of that, Brent oil closed at the highest level since 2018, as supply-chain disruptions forced energy companies to pull large amounts of crude out of stockpiles and resulted in global energy crunch.

In Asia, stock market was mixed on Monday as risk sentiment improved on contained China’s Evergrande Group default risk. Additionally, news about the releasing of Meng Wanzhou, daughter of Huawei’s founder and the CFO of the company, has indirectly eased the tension between the US and China and favor the market sentiment.

Main Pairs Movement:

The broad U.S. equity market wavered on Monday, as the U.S. 10-year treasury bond yield rose to 1.494%, the highest intraday level since June. Major Asia benchmark indices were mixed on Monday. The Hang Send Index edged up 0.1%, while the Shanghai Composite Index lost 0.8%. Germany voted for a new chancellor over the weekend, but analysts are suggesting the leadership change would not affect Germany’s fiscal stance.

Risk on sentiment combined with increasingly hawkish global central banks have caused money to flow from safe haven assets to higher yielding asset classes. Despite the dollar index advancing on Monday, Cable and the Loonie both rose against the dollar. Gold made small gains against the dollar as the U.S. 10-year treasury yield rose to a 3 month high, but gains are limited for the precious metal as investors look for higher yielding assets

Technical Analysis:

GBPUSD (4 Hour Chart)

After losing more than 0.3% on Friday’s trading, Cable has found solid support at around the 1.3665 price level and has repaired most of its losses from Friday’s trading. The BoE’s hawkish decision on Thursday has helped bouy the Pound against a strong Dollar. However, a recent truck driver shortage, which has brought on a supply disruption of petrol in 90% of U.K. gas stations, poses as a near term threat to the U.K.’s economic recovery.

From the technical perspective, Cable has lost most of its gains since late September, but the pair has found support at the 1.3665 price level. As of writing, Cable is trading at 1.37111, with the nearest level of resistance at around the 1.3747 price level. RSI for the pair sits at 54, a neutral buying signal. Cable is currently trading below its 50, 100, and 200 day SMA.

Resistance: 1.3747, 1.381, 1.3851

Support: 1.3665, 1.36

USDCAD (4 Hour Chart)

USD/CAD continued its down trend since last Friday, and the pair is continuing to edge lower to test our previously estimated support level of 1.2635. The pair’s recent down trend is attributed to the renewed “risk on” sentiment leading to renewed Dollar weakness on Monday, and the rising cost of commodities— specifically oil as it is Canada’s largest exposrt item. WTI, on Monday, reached and broke its 3 month high of 75 dollar per barrel.

From the technical perspective, risk on sentiment combined with rising commodity costs has brought USD/CAD below our previously estimated support level, but this level remains relevant as the pair seems to have found support near this region, as of writing. RSI for pair sits at 39, suggesting mild under buying. USD/CAD is trading above its 50, 100, 200 day SMA.

Resistance: 1.2834, 1.2912

Support: 1.2635, 1.2586, 1.2509

XAUUSD (4 Hour Chart)

Gold continued its climb against the Dollar at the start of a new trading week; however, the upward momentum is hampered by the “risk on” sentiment of equity investors and the recovering Dollar. Rising U.S. bond yields could further strengthen the dollar and pose strong downward pressure on the safe haven asset. Despite hawkish signals from global central banks, China’s Evergrande Group still looms over global markets and has helped Gold from suffering further losses.

From the technical perspective, XAU/USD met resistance at around the 1759 price level and has reversed its upward course. RSI for the pair sits at 43, indicating a neutral market. XAU/USD is trading below its 50, 100, and 200 day SMA.

Resistance: 1759.27, 1779.04, 1808.42

Support: 1742.39, 1725.51

Economic Data

28 September 2021, DUBAI UNITED ARAB EMIRATES – VT Markets, one of the leading Forex and CFD brokers, today delight announce that they are pleased to attend to this year’s the Forex Expo held in DUBAI, UNITED ARAB EMIRATES during 29-30 September 2021 as a gold sponsor.

The largest global FOREX Exhibition organized by Huan Qiao Event Management LLC will take place at the Dubai World Trade Centre, offering industry pioneers from all over the world a chance to connect. Angelo Themistokli, the head of VT Markets Cyprus office will lead the team to attend to the event and speak during the expo.

“We were blown away by the feedback we received on our previous events, so we’re really looking forward to connecting once again with new and existing partners and customers.” Said Angelo Themistokli, head of Cyprus office at VT Markets.

“We are very proud to be represented at the expo by our Cyprus team and we are inviting all of our investors to come and meet us at our stand and speak to some of the leaders of the Forex industry. In addition, following the steps of VT Markets’ global expansion plan, we look forward to having a local office set up here to serve investors and partners from Middle East/North Africa (MENA) region.” said Chris Nelson-Smith, Managing Director at VT Markets.

Everyone is welcomed to visit our booth during the expo to learn everything about VT Markets and what VT Markets offer to MENA clients exclusively. To get a full insight into VT Markets services and to schedule your meeting with a representative, please visit booth No 39 as well as the official event page.

For official event information, visit https://www.theforexexpo.com/dubai2021/

About VT Markets

VT markets, based in Sydney, Australia, is a subsidiary of VT Markets LLC (VIG) and leverages more than 10 years of experience and expertise in global financial markets to offer easy and transparent market access and help our clients pursue their financial goals. Founded in 2016, VT markets has applied for advanced technical support in the retail FX market to provide clients with superior trading experience.

For more information, please visit www.vtmarkets.com or contact [email protected]

Dear Client,

Please note change of the following products after Daylight Savings Time in Australia begins in October 4th, 2021.

The details as shown in the table below.

If you’d like more information, please don’t hesitate to contact [email protected].

Daily Market Analysis

Market Focus

US stock advanced on Friday amid turmoil in global stock market earlier in the week. Despite the hawkish tone from Fed after the meeting this week and the contagion risks from China Evergrande Group’s debt crisis, US stock finished in the positive territory for a third day. Investors believed that the US economy recovered in a steady pace and has met the central bank’s conditions for starting to reduce its bond purchases soon, as some of the Fed bank presidents supported starting bond tapering in November and concluding them over the first half of next year.

The benchmarks, S&P 500 and Dow Jones both advanced on Friday. The S&P 500 was up 0.2% on a daily basis, showing a late day rebound after fluctuating throughout most of the session. The energy, communicate service and financials sectors are the best performing among all groups, climbed 0.84%, 0.69% and 0.55%, respectively. The Nasdaq, on the contrary, posting a 0.1% loss for the day.

Surprisingly, the S&P 500 and the Dow Jones ended the week with gains amid uncertainty surrounding the indebted real-estate giant Evergrande Group. But for investors, this can be a challenging weekend for holding weekend risk given the ongoing and still developing scenario around Evergrande.

In Asia, China said that crypto-related transactions will now be considered as illegal financial activity, therefore, bitcoin tumbled alongside with crypto-related shares. Investors now remain vigilant about the next step of China regulators.

Main Pairs Movement:

US dollar advanced on Friday, bouncing back from Thursday’s slide as it touched a daily high before the American session. But the greenback failed to preserve its bullish momentum after breaking the 93.4 level and closed at 93.277. The safe-haven dollar was benefited from the uncertainty over Chinese property developer Evergrande Group and bounced back from its biggest one-day percentage drop in about a month on Thursday. Investors worried about a default by China Evergrande Group as the company missed a Thursday deadline for paying $83.5 million. To sum up, US dollar strengthened on Friday amid hawkish Fed and the Evergrande risks, rising 0.19% on a daily basis.

EUR/USD and GBP/USD both declined on Friday amid stronger US dollar across the board, losing 0.15% and 0.33% for the day, respectively. EUR/USD dropped to a daily low during European trading hour but recovered modestly after declining to 1.1700 area. The risk-averse market environment weighed on the pair as the greenback to continue to outperform its rivals during the day.

Gold rose on Friday, rebounding slightly from Thursday’s slump. But the prospects for an earlier rate hike move by the Fed and the Bank of England kept a lid on any meaningful gains for gold. The precious metal posted a 0.45% gain on a daily basis. WTI Crude Oil, in the same way, climbing more than 1% on Friday.

Technical Analysis:

GBPUSD (Daily Chart)

Tradingview

GBPUSD acelerated its slump, trading under 1.3700. The tumble trimmed almost half of its post BOE gains as the market concerns about the shifting tone of the Fed from dovish to hawkish. From the technical perspective, the intraday bias remains downside as the currency pair continues trading below the descending trendline; at the same time, previous bounce- up seems to be temporary from the double top trading pattern. As a result, the pair loses its bullish strength today. Moreover, according to the RSI, it has not yet reached the oversold territory, which indicates that the bearish move continues to keep up its momentum. The fall will accelerate if the pair falls below 1.3605. On the contrary, GBPUSD needs to trade above 1.3835 to reverse from bearish to bullish.

Resistance: 1.3726, 1.3835, 1.3905

Support: 1.3604, 1.3441

Gold (Daily Chart)

Tradingview

Gold tumbled, failing to recover above $1,750 region, after the Fed and BoE turned hawkish this week. Resurgent US dollar demand exerted additional pressure on the precious metal, gold. From the technical aspect, any subsequent decline is likely to find its immedicate support at 1740.85; the decline might find it hard to extend losses below the support level as the RSI has reached the oversold territory, minimizing the selling pressure. If gold ends up falling below the support level and ascending trendline, then it will acelerate the downside toward its next support at $1,683.34. On the flip side, $1,786 looks to act as an immediate hurdle, above the level will give bulls an opportunity to challenge the 200- SMA.

Resistance: $1,786, $1,817.71

Support: $1,740.85, $1,683.34

USDJPY (4- Hour Chart)

Tradingview

USDJPY gained traction for the third consecutive day as the US dollar obtained strength from the Fed’s hawkish tone. As the time of writing, USDJPY has reached multi- week tops, trading around 110.73 region. From the technical aspect, the intraday bias looks to be bullish as the pair trades along the ascending trendline. At the moment, the pair is contesting its immediate resistance at 110.704; if the pair successfully breach the resistance, then it will acelerate the upside momentum toward the recent peak at 111.576. However, the pair is going to confront a firm obstacle as the RSI has over- reached the overbought condition, almost at the 80^th threshold. That being said, the bullish momentum has a high possibility to be held. The pair might consolidate in the price range of 110.698 and 110.155 until the RSI gets cool- down.

Resistance: 110.698, 111.576

Support: 110.155, 109.716

Economic Data

Daily Market Analysis

Market Focus

US stock advanced on Thursday amid risk-on market sentiment, as investors embraced the Federal Reserve’s bullish economic outlook. After the two-day FOMC meeting, Fed has turned more hawkish and is expected to reduce bond purchases in November at the earliest. Generally, a hawkish Fed should be bearish for equity market. But surprisingly, the hawkish tone from Fed is welcomed by investors as it was seen as a confirmation of substantial progress in economy recovery. Additionally, gold declined and oil rose.

The benchmarks, S&P 500, Dow Jones and Nasdaq both rose on Thursday as they rode the waves of positive risk sentiment. S&P 500 was up 1.2% on a daily basis, the index registered its biggest two-day gain since July. Nine out of eleven sectors posted a gain as the energy and financials sectors are the best performing among all groups, rose 3.41% and 2.50%, respectively. Real estate .and utilities were the only major groups to end lower on the day. The Dow Jones gained the most of 1.5%.

On top of that, the Bank of England moved closer to raising interest rates after officials said developments appear to have strengthened the case for modest tightening. Therefore, the British pound rallied on Thursday.

In Asia, Financial regulators in Beijing instructed China Evergrande Group to avoid a near-term dollar bond default. China also said to have told the company to focus on completing unfinished properties and repaying individual investors. For now, there is no indication that regulators offered financial support to Evergrande Group for the bond payment yet, and concerns of an Evergrande failure continues.

Main Pairs Movement:

The 2-day long Fed meeting concluded with signals from the FOMC that tapering should start relatively soon and a revised rate hike schedule, which could begin by, as early as, 2022. Besides the FOMC minutes, markets were also moved by a report that Chinese authorities signaled reluctance to bail out Evergrande, despite the Chinese Government’s continued effort to inject more cash into the financial system; furthermore, the Chinese regulators have instructed Evergrande to avoid near-term default on bonds. The combination of the two events boosted investor sentiment and a risk-on investing scene, as most U.S. indices continues to rise for the second day in a row.

Cable rose against the dollar, as the Greenback weakened due to investors redirecting funds into a “risk on” equity market environment. The Pound was also fueled by the increasingly hawkish stance of the BoE. The redirecting on funds and “risk on” sentiment hurt gold, as the precious metal tumbled throughout the trading day.

Technical Analysis:

GBPUSD (4-hour Chart)

Cable traded lower during the European trading session, but the pair would rebound, significantly, once the Asia and American trading session began. Broad Greenback weakness and risk-on sentiment in equity markets have propelled Cable to its 3 day high. The BoE’s increasingly hawkish tone also added to the Pound’s strength against the Dollar. As of writing, Cable has broken through our previously estimated resistance level of 1.3687 and the pair is trading at 1.3747.

From the technical aspect, Cable successfully defended the 1.36 support level and quickly broke through the 1.3687 resistance level. Near term resistance for Cable will sit at around the 1.378 price level. RSI for the pair sits at 61.5, indicating modest over buying in the market. As of writing, Cable is trading above the 50, 100, and 200 day SMA.

Resistance: 1.3687, 1.381, 1.3851

Support: 1.3627, 1.3603

USDCAD (4- Hour Chart)

USD/CAD reversed course for the day as the Dollar loses steam, and brought the pair below our previously estimated support level of 1.2752. During the earlier part of the trading session, USD/CAD was able to repair some losses from the previous trading day, but the pair quickly lost ground once the American trading session began. The Canadian July retail sales declined, although actual figures fared better than analyst estimates.

From the technical aspect, USD/CAD broke through the 1.2752 support level and is currently trending towards the nearest support level of 1.2635. RSI for the pair is at 35.47, indicating modest over selling. As of writing, the pair is trading at the lower bound of the bollinger bands, and the pair is trading below its 50, 100, and 200 day SMA.

Resistance: 1.2834, 1.2912

Support: 1.2752, 1.2635, 1.2586

XAUUSD (4- Hour Chart)

XAU/USD tumbled as equity markets heated up; furthermore, a weaker Dollar did not help the pair, as investors adopt the “risk-on” sentiment. Increasingly hawkish tone from the Fed and BoE did little to help gold as U.S. bond yields soared and flows redirected away from the non-yielding precious metal. Cash injection by the People’s Bank of China further eased equity investors’ concerns.

From the technical aspect, XAU/USD has found some support at the 1748 price level, but, if investors continue to move away from the safe haven asset, XAU/USD could trend down towards its next immediate support level of 1725. RSI for the pair sits at 36, as of writing, indicating modest over selling. The pair is trading below its 50, 100, and 200 day SMA.

Resistance: 1778.52, 1804.06, 1830.72

Support: 1748.82, 1725.47

Economic Data