Intraday Forex Wednesday, August 28 (USDJPY, EURUSD, & etc.) The dollar tumbled after U.S. consumer confidence data showed to the lowest in six years.


Hi everyone. This observation is made around 3:30 UTC. The Resistance and Support Line were constructed according to Fibonacci retrenchment. Any discussion is welcomed.

Stocks in Asia Pacific were mixed in Wednesday morning trade, following a mixed Wall Street lead as markets cheered signs of progress in U.S.-Sino trade negotiations, though remained cautious about the broader economic outlook.
Trading volume was typically low for late August and investors await a speech by Federal Reserve Chairman Jerome Powell on Thursday when he is expected to address the U.S. central bank's view on inflation and monetary policy.

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  • The dollar managed to hold onto slim gains against the yen, last trading at 106.448 due to a slight rise in long-term U.S. Treasury yields.
  • Both Stochastic and RSI oscillator is within the normal ranges of 50.
  • The MACD is trading below its signal line and positive.
Important Levels to Watch for Today:
  • Resistance line of 106.726 and 107.008.
  • Support line of 105.814 and 105.532.

  • Against the euro, the dollar stood at $1.1818 in Asia on Wednesday following a 0.4% decline in the yesterday session.
  • Stochastic indicator entering the undervalued range, with RSI oscillators also edged toward the range.
  • The MACD is trading below its signal line and negative. The configuration is negative.
Important Levels to Watch for:
  • Resistance line of 1.18579 and 1.18816.
  • Support line of 1.17814 and 1.17578.

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