The Dollar index has broken its short-term support at 80.15-20 and has now moved below 80. The index continues to trade within the downward sloping trend channel and continues to make lower lows and lower highs. However, the index is oversold and we believe that a strong upward bounce should be expected soon. Short-term resistance […]
General overview for 17/02/2014 09:45 CET The impulsive wave progression for wave (iii) blue looks finished and now the market is in corrective cycle in wave (iv) blue. The golden trend line is providing the resistance so far, but the overall corrective cycle has not been finished yet. The weekly pivot at the level of […]
February 17, 2014 – Daily Market News Today’s Hot Asset: GBP/USD Bad weather in the US continues to slow the economic recovery and to affect data negatively. Mixed data was again released on Friday but a positive consumer sentiment report surprised many investors. After opening lower, stocks regained some ground as investors dismissed other pieces […]
February 17, 2014 – Weekly News WEEKLY REPORT 17/02-21/02 EUR/USD Last week the EUR/USD pair moved sideways first two days between 1.3640 and 1.3680 however once on Wednesday Benoit Coeure (European Central Bank’s member) said that negative interest rates are seriously discussed the pair dropped to 1.3560. However, the sentiment changed almost immediately after and […]
The buying strength in Gold has pushed prices above our main price target of $1,320. This target fulfilled our short- and intermediate-term target levels, and we now look for a pullback. Our longer-term view in Gold has now changed a bit. We may first see a move towards $1,400 before resuming downwards towards our longer-term […]
General overview for 17/02/2014 09:17 CET The corrective cycle in current wave is getting more complex and time consuming. The overall shape is being as some kind of a flat correction but there is a possibility, that wave b green might be a triangle formation. Currently, the market is in the daily range area and […]
The Australian dollar climbed to its highest level on Monday following a solid lending growth in China in January, an optimistic sign for the country’s largest trading partner. The Aussie was trading at US$0.9052 at 05:45 GMT, previously US$0.8994 last Friday. It listed as high as US$0.9069, short of a one-month high. Chinese bank lending reporter a higher […]
Natural-gas futures retained its strong gains in an electronic trade on Monday, while crude oil savored a more humble gain. March natural gas surged 17 cents or 3.3%, to $5.40 per million British thermal units, prolonging sharp gains from last week as cold weather slammed the eastern US. March crude oil gained 37 cents, or 0.4%, to 100.72 […]
The US dollar lost its soil versus the Japanese yen and other major peers on Monday, as latest weakness in Japan equities wounded investors’ risk appetite and disappointing US data agitated worries for a slowing economic recoup. The dollar dropped to ¥101.56 from ¥101.81 last Friday, even as the Nikkei Average finished to end with a 0.6% profit […]
The Japanese yen gained against 13 of its major peers, following a report which showed the nation’s economic growth slowed down surprisingly. A dollar benchmark dropped to a two-month low, stretching its two-week decrease, as traders analyzed whether weaker US economic report will urge the Federal Reserve to reckon a slower pace in cutting down stimulus. The Fed will […]
Most Asian shares surged higher on Monday as it nod to Wall Street’s resilience. But Japanese stocks endured both a stronger yen and shocking weak data on economic growth. The Nikkei dived 0.4% as the US dollar a third of a yen to 101.47. A sturdy yen is seen as hostile for Japanese exports and corporate gains, and […]
Gold futures climbed to the highest peak in more than three months as concerns the US economic recovery will draw hyped demand for haven assets. Silver is headed for a 12th day of gains. Bullion to be carried out immediately increased by 0.9% to $1,330.03 per ounce, the most since October 31, which was at $1,326.78 by 9:41 a.m. […]
Japanese GDP estimates hit sour note Morning Report: 08.30 London • This morning the yen pairs are on the rise as a risk averse environment sees money flow back into the yen. Ironically this is happening on the back of below par Japanese GDP figures and a slump in revised industrial production. • The GBP/JPY is […]
Today’s Support and Resistance levels: R3: 1.6459 R2: 1.6420 R1: 1.6395 Current spot: 1.6378 S1: 1.6339 S2: 1.6327 S3: 1.6298 Technical summary: We are looking for a break above resistance at 1.6420 soon, this break will confirm acceleration higher towards at least 1.6632. Short-term support at 1.6339 will ideally protect the downside for the break […]
Today’s Support and Resistance levels: R3: 140.07 R2: 139.69 R1: 139.42 Current spot: 139.31 S1: 138.95 S2: 138.68 S3: 138.17 Technical summary: The price behavior is still not convincing, but as we approach the decision point we will soon see a clarification, whether we shall see an impulsive red wave (iii) decline or whether we […]
AUD/USD Elliott Wave Last week, the AUD/USD pair traded upwards, impulsive wave [i] (coloured black) of the bigger wave C (coloured blue) developed. In the 1-hour chart above, we can see that the price is pushing aggressively higher after the pair found support at the 0.8925 level, the end of the blue B wave. Impulsive […]
EUR/USD: This pair has been able to maintain its upward journey, moving close to the resistance area at 1.3700. For the northward journey to continue, the price would need to break the resistance area to the upside. The target for this week is at the resistance line of 1.3800. USD/CHF: This pair has been able […]
Japan’s GDP data were the main focus of the Asian session on Monday. The Japanese economy grew at a slower pace in the fourth quarter, at an annualized 1% versus a 2.8% expected. Third quarter GDP was at 1.1%.The weaker-than-expected figure initially dampened risk appetite and caused a drop in Tokyo’s Nikkei, which initially lifted […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has continued trading lower, final wave [c] (coloured black) of the bigger wave Y (coloured blue) has been developing. We can see in the 1-hour chart above, that we are inside the impulsive (iii) wave (coloured green) of the bigger wave [c] (coloured black) and […]
Those who trade gold caused the precious metal to rise to its highest level in three months on Feb. 12, bolstered by hopes that the Federal Reserve will reduce its current regimen of bond purchases gradually. April gold rose to as much as $1,296.40 per ounce on the Comex division of the New York Mercantile […]
European markets have opened higher today, extending Friday’s gains. Closer home, Rightmove reported that the house price index in the UK climbed 3.3% MoM in February, compared to a 1.0% increase in the previous month. On Sunday, Mark Carney, the Bank of England Governor, commented that the UK central bank would start to increase interest […]
Gold gains amid weak US economic data. New Federal Reserve chairperson Yellen stated that the Fed would maintain an accommodative stance on monetary policy. The statement caused weakness of USD. Gold sits at a 3-month high. Gold made the largest weekly increase since August and it jumped 9.7% this year so far. Even in overbought […]
After a tremendous move from the October 2013 lows, the pair USD/SGD is experiencing a healthy correction. Now the pair is near its 50.0 fib level. We expect it may hold and pull back soon towards 1.2650. In the daily and hourly charts RSI supports this view. Support- 1.2555, 1.2536. Resistance- 1.2624, 1.2652. The material […]
New Federal Reserve chairperson Yellen stated that the Fed would maintain an accommodative stance on monetary policy. This caused weakness in USD. Recently released US data was also not supporting USD. As a result, the USD moved lower during the previous week. The USD is trading at the level of 80.10, near the crucial support […]
In Asia, Japan will release the Prelim GDP q/q, Prelim GDP Price Index y/y, Revised Industrial Production m/m and the US will not release any economic data. So the USD/JPY will move with low volatility during this day. TODAY’s TECHNICAL LEVELS: Resistance. 3: 102.12. Resistance. 2: 101.92. Resistance. 1: 101.72. Support. 1: 101.47. Support. 2: […]
There is no economic news to be released from the Eurozone. And the US will not release any economic data because of Bank Holiday, so EUR/USD will move with low volatility during this day. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3775. Strong Resistance:1.3766. Original Resistance: 1.3753. Inner Sell Area: 1.3740. Target Inner Area: 1.3707. Inner […]
Daily chart: The USDX fell to a critical level, as the support level of 80.11 was quite strong and served as strong support for the USDX for several weeks. However, if the USDX does make a breakout at that level, it would be expected to fall to the level of 79.19. On the other hand, […]
Daily chart: GBP/USD consolidated above the support level of 1.6663, after a fairly positive week, within which the bullish bias strengthened sharply. The next target for this pair is the resistance level of 1.6851, but it is very likely that the GBP/USD will start forming a bullish pattern to continue rising. However, we must be […]
GOLD: With GOLD bullish and rallying through the 1,279.12 level the past week, further strength is expected into the new week. Resistance resides at the 1,350.00 level with break of here turning focus to the 1,400.00 level. Further out, resistance comes in at the 1,450.00 level, its psycho level and possibly higher towards the 1,480.00 […]
EURUSD: EUR looks to extend its bullish offensive with eyes on the 1.3739 level. A cut through here will aim at further upside towards the 1.3800 level, its psycho level. Further out, resistance is seen at the 1.3850 level and then the 1.3900 level. Its weekly RSI is bullish and pointing higher supporting this view. […]
