• Technical analysis of GBP/CHF for December 2, 2016

    GBP/CHF found strong support at 50-Moving Average that it has been rejecting for a number of times. It looks very much like an uptrend will continue at least to test 0% Fibs applied to the ascending channel breakout. Consider buying GBP/CHF on small pullbacks to target 0% Fibs (1.2908). Suggested stop loss is below 50-Moving […]

  • Technical analysis of CAD/CHF for December 2, 2016

    CAD/CHF continues to trade up and currently is above both 50- and 200-Moving Averages. Price broke above the descending channel where Fibonacci applied to the channel breakout point indicates that nearest target is 0.7622 which hasn’t been tested yet. If broken, CAD/CHF could go further up to test 0% Fibs (0.7795). Consider buying CAD/CHF on […]

  • Gold To Test Support With NFP

    Gold prices have turned bearish since the US presidential election date, as a result of the strengthening of the dollar, the mid-term major support line at 1200 was broken. The better-than-expected US economic figures on this Wed weighed on gold prices, and the support level at 1180 was broken. Yesterday the better-than-expected November US ISM […]

  • Gold analysis for December 02, 2016

    Since our previous analysis, gold has been moving sideways at the price of $1,171.00. Using the market profile on 30M time frame, I found yesterday’s point of control at the price of $1,167.00. Price is trading below 21SMA, which is a sign of weakness. Be careful when buying and watch for potential selling opportunities. The […]

  • EUR/NZD analysis for December 02, 2016

    Recently, EUR/NZD has been moving upwards. As I expected, the price tested the level of 1.5063 in a high volume. Anyway, using the market profile chart on 30M time frame, I found that buyers lost power near the price of 1.5063 and that buying at this stage looks risky. I found a breakout of the […]

  • USD/CAD intraday technical levels and trading recommendations for December 2, 2016

    On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of a significant bearish rejection was manifested during recent consolidations. On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where […]

  • NZD/USD Intraday technical levels and trading recommendations for December 2, 2016

    As long as the NZD/USD pair continued trading above 0.6860, a further bullish advance was expected towards the upper limit of the depicted channel around 0.7400. During August and September, a consolidation range was established from the price level of 0.7250 up to 0.7350. Later on October 20, the lower limit of the consolidation range […]

  • Intraday technical levels and trading recommendations for GBP/USD for December 2, 2016

    The price zone between 1.3845 and 1.3550 (historical bottoms set in January 2009) was considered a significant demand zone to be watched for a bullish recovery. However, by the end of June a significant bearish break below 1.3550 was expressed as seen on the depicted charts (fundamental reasons). Persistence below the demand level at 1.3550 […]

  • Intraday technical levels and trading recommendations for EUR/USD for December 2, 2016

    In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 where historical bottoms were previously set in July 2012 and June 2010. Hence, a long-term bearish target was projected towards 0.9450. In March 2015, the EUR/USD bears challenged the monthly demand level around 1.0570 which had been previously reached in August […]

  • Global macro overview for 02/12/2016

    Global macro overview for 02/12/2016: The manufacturing PMI data from the UK were released yesterday and they fell short of the market expectations. The index unexpectedly fell to 53.4 in November, while market participants expected the score of 54.4 points after the previous 52.2 figure. Nevertheless, the rate of expansion is still “solid” according to […]

  • Technical analysis of USD/CAD for December 2, 2016

    General overview for 02/12/2016: The bottom for the wave c (green) moved a little lower to the level of 1.3286. That means the wave a (blue) has been completed as well. The level of 1.3355 is now acting as an intraday resistance, so if the count is correct, the market will move higher towards the […]

  • Technical analysis of EUR/JPY for December 2, 2016

    General overview for 02/12/2016: The impulsive cycle in wave (iii) (green) is completed, so now a larger correction in wave (iv) (green) is anticipated. The pattern anticipated in wave four is a triangle, but the correction might evolve into more complex structure. No signs of any kind of a trend reversal yet as there is […]

  • GBP/USD at major resistance, time to sell

    Price is seeing major resistance at 1.2685 (Fibonacci projection, horizontal pullback resistance, previous swing high, Fibonacci retracement) and we expect a drop from this level towards 1.2303. Stochastic (21,5,3) is seeing major resistance at 94% where we expect a drop from. RSI (34) is seeing major resistance at 70% where we expect a similar drop […]

  • MovingAvg
    Moving Averages Can Identify a Trade

    Moving Averages Can Identify a Trade These 3 charts help you understand how moving averages work By Elliott Wave International Moving averages are a popular tool for technical traders because they can “smooth” price fluctuations in any chart. Senior Analyst Jeffrey Kennedy gives a clear definition: “A moving average is simply the average value of […]

  • Technical analysis of USDX for December 2, 2016

    The Dollar index is weakening and testing short-term support at 100.70. With NFP numbers announced today traders should be very cautious as if the economy beats the market expectations we could have the much anticipated third drive higher towards 102.50 to complete the upward cycle. Blue line – support trend line The Dollar index has […]

  • It’s not the jobs numbers

    It’s not bee the economy that has been driving the dollar over the past 3 weeks, of that we can be pretty sure. Rather, it’s been expectations of tax cuts and spending increases, together with incentives for dollar repatriation under the new President. As such, there is a case to say that today’s payrolls numbers […]

  • Technical analysis of gold for December 2, 2016

    Gold remains in a bottoming process and inside the bearish short-term channel, without any confirmation yet of a trend reversal. Could the NFP numbers announced today be the reason to start the reversal? Maybe, either way Gold bulls need to be patient. Black lines – bearish channel Gold price bounced off the lower channel boundary. […]

  • NFP at 13:30GMT | XAU and USD Expected to Move

    GBP rallied 1% against the USD yesterday and almost reached a three-month high against the EUR after British Brexit Minister David Davis indicated that London would consider paying for access to European markets after Brexit. The pound rose as much as 1.6% to a three-week high against the dollar at $1.2696. The euro rose 0.7% […]

  • Elliott wave analysis of EUR/NZD for December 2, 2016

    Wave summary: The ending diagonal can be completed with the new low at 1.4801 but to confirm that, a break above the minor resistance at 1.5094 and more importantly a break above a resistance at 1.5121 will be needed. As long as the minor resistance at 1.5094 caps the upside, the possibility of one more […]

  • Elliott wave analysis of EUR/JPY for December 2, 2016

    Wave summary: A test of the pitchfork resistance-line near 121.95 is now being seen. This is close to the (iv) top at 122.00 seen on June 23. Ideally a small spike just above 122.00 will be seen, but we have entered an area, from where a wave (iv) correction towards at least 119.76 and more […]

  • 5 Instruments Traders Want in their Stockings This Christmas

    Mercedes Pantazi, Customer Support Manager, easyMarkets The holiday season is upon us! Whether the financial markets have been naughty or nice to you this year, we’ve decided to make a list (and check it twice) of instruments that traders probably want to see under the Christmas tree. Gold Who can say no to this good […]

  • Technical analysis of USD/JPY for December 02, 2016

    USD/JPY is expected to trade with a bearish bias below 114.30. The pair remains in consolidation, but is still holding above its key resistance at 114.30. The relative strength index lacks upward momentum. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. On Thursday, gains in blue chip […]

  • Technical analysis of USD/CHF for December 02, 2016

    USD/CHF is expected to trade with bearish bias as Key resistance at 1.0140. The pair is trading below a horizontal resistance at 1.0140, which should limit the upside potential. The relative strength index is bearish below its neutrality level at 50. Additionally, the declining 20-period and 50-period moving averages suggests that the pair still has […]

  • Technical analysis of NZD/USD for December 02, 2016

    NZD/USD is expected to trade with bullish bias. The pair stands firmly above its key support at 0.7045, and is expected to challenge its next resistance at 0.7130. The relative strength index is bullish, without displaying any reversal signals. To conclude, as long as 0.7045 is not broken down, a further bounce is preferred with […]

  • Technical analysis of GBP/JPY for December 02, 2016

    GBP/JPY is expected to trade with bullish bias above 142.60. The pair has pulled back on its key support at 142.60, representing the current 50-period moving average, which is still heading upward, and should act as a strong support role. The relative strength index is bullish above its neutrality level at 50. Even though a […]

  • Technical analysis of USD/JPY for Dec 02, 2016

    In Asia, Japan will release the Monetary Base y/y, and the US will release some Economic Data, such as Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So, there is a probability the USD/JPY will move with medium to high volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 114.38. Resistance. 2: 114.15. […]

  • Technical analysis of EUR/USD for Dec 02, 2016

    When the European market opens, some Economic Data will be released, such as PPI m/m and Spanish Unemployment Change.The US will release the economic data, too, such as Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m, so, amid the reports, EUR/USD will move in a medium to high volatility during this day. TODAY’S […]

  • Daily analysis of major pairs for December 2, 2016

    EUR/USD: There has not been any strong movement on the EUR/USD so far this week, and there is a faint rally attempt, which might end up being another opportunity to sell short. Only a pullback on USD/CHF would cause this market to rally. Some fundamental figures are expected today and they would have impact on […]

  • Daily analysis of GBP/USD for December 02, 2016

    Ahead of today’s NFP, the US Dollar Index is hovering around the 200 SMA at H1 chart and remains capped by the resistance level of 101.74. Eventually, the index may attempt a decline towards the support zone of 100.53, where a demand zone is located and if it gives up in coming bearish momentum, the […]

  • Elliott wave analysis of EUR/NZD for December 1 – 2016

    Wave summary: A new low has been seen here at 1.4801. All requirements have been fulfilled for the ending diagonal from 1.5839. We still expect more downside to 1.4728 and possibly even lower to 1.4575 as long as resistance at 1.5095 is able to cap the upside. A break above 1.5095 will indicate that the […]