Miner, Anglo American (AAL.L) today reported Q4 figures, announcing rises in the output across most of its production and record copper production figures. Iron ore output rose 25% at its Kumba Iron Ore unit, Iron ore being the biggest contributor to profits during 2012. Copper productionincreased by 24% to a record 214,400 tonnes, driven by […]
Today’s Support and Resistance levels: R3: 1.6632 R2: 1.6568 R1: 1.6524 Current spot: 1.6504 S1: 1.6452 S2: 1.6434 S3: 1.6385 Technical summary: It finally looks as red wave iv has ended slightly below our ideal target at 1.6463 (the low has been at 1.6452). In the short term we will be looking for a break […]
Gold price has made a decline from $1,278 to $1,252 in 5 waves. This impulsive downward move was followed by three corrective upward waves and a new lower low. Currently, Gold price is trading sideways creating a triangle. Our Elliott wave count is shown in the chart below. Our preferred wave scenario expects Gold price […]
EUR/USD: Since Monday, this pair has gone sideways in a perpetual manner. It must be noted that the bullish bias is still valid and the price could go further upwards when momentum returns to the market. The Williams’ % Range continues to go downwards, which gives a good indication to go long. USD/CHF: From the […]
Commodities slip back as markets settle Morning Report: 08.45 London • Emerging markets such as Turkey have taken bold steps to address their falling currencies in the last 24 hours, a move that has settle markets somewhat. The S&P 500 put in a strong performance yesterday and is broadly unchanged this morning. • Commodities […]
Cable traded a tight 30-pip range in the Asian session today, with congestion around 1.6582, which is the 23.6% Fibonacci retracement level of the up-leg from the January 17 low (1.6308) to the January 24 high (1.6667). This level is an important turning point for the pair which could turn to the upside or downside. […]
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USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has extend upward movements, just like we expected, corrective wave (c) (coloured red) of the bigger wave [y] (coloured green) has been developing. In the 1-hour chart we can see that we are tracking ascending movements from the 1.0588 towards the 1.1175 level as the corrective wave [y] […]
AUD/USD Elliott Wave For the last few days, the AUD/USD pair has bee trading upwards in a corrective pattern, wave .b (coloured black) of the bigger wave (iii) (coloured blue) has been developing. Yesterday, this upward move just extend toward the new high at 0.8825 that we are currently calling the end of the .b […]
Today’s Support and Resistance levels: R3: 142.42 R2: 141.80 R1: 141.36 Current spot: 141.16 S1: 140.77 S2: 140.29 S3: 139.79 Technical summary: The correction from 139.15 has extended as it has turned into a triple zig-zag correction, but we should be very close to the end of the correction. We expect the correction (blue wave […]
General overview for 29/01/2014 08:00 CET A new marginal high was made yesterday and the impulsive bearish count has been invalidated due to wave one and wave two overlaps. This is why new count has been made and this one suggestes more impulsive wave progression to the upside, as long as the level of 1.1118 […]
General overview for 29/01/2014 07:30 CET The price has hit a very important technical resistance level indicated yesterday and now a rejection or breakout is possible. Current count does suggest, that the upside wave progression is in only three waves so far and there is one more to the upside missing. Therefore, in case of […]
Markets were stunned by news out of Turkey late on Tuesday that its central bank decided to raise its key overnight lending rate from 7.75% to 12%. This helped bring risk appetite back to investors after last week’s panic from the emerging market turmoil. The dollar was the main beneficiary of flows and gained on […]
European markets have opened higher today, as investors speculated that a sharp overnight rate hike by the Turkish central bank might stem selling in emerging markets and revive risk appetite. However, investors kept a close eye on the US Fed’s policy decision due later in the day. Closer home, Nationwide reported that UK housing prices […]
Crude oil trading could result in the price of the commodity experiencing substantial gains if the predictions of widespread economic growth provided by market participants end up having some accuracy. The forecasts that have been made about how well global business conditions will fare in 2014 and after could play a key role in the […]
Those who trade gold caused the price of the precious metal to decline on Jan. 27, and many market experts attributed this depreciation to speculation that the Federal Reserve would announce additional tapering of stimulus at the conclusion of its upcoming policy meeting scheduled for later in the week. In addition, the resilient nature of […]
Forex trading resulted in the AUD/USD recovering on Jan. 27, after it recently dropped to its lowest point in three-and-one-half years. The currency pair managed to appreciate during the day, as the downward pressure on the Aussie – that was created by concerns about emerging markets – started to dissipate, according to Investing.com. The AUD/USD was valued […]
When the European market opens, some economic news will be released such as GfK German Consumer Climate, M3 Money Supply y/y,Private Loans y/y,German 10-y Bond Auction.The US will release the most important economic data such as the US-Crude Oil Inventories, US-FOMC Statement & US-Federal Funds Rate, so amid the reports, EUR/USD will move with medium […]
In Asia, Japan will not release economic data,’s but the US will release some economic data such as US-Crude Oil Inventories,US-FOMC Statement & US-Federal Funds Rate. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with medium to high volatility during the US session. Resistance. 3: […]
Strong dollar pushes gold towards lower levels. Consumer confident index improved to 80.7 from 77.5 in December and rumours spreading the Fed going to cut its stimulus program. In the daily chart oscillators is in the sell mode. Gold rally to high of $1,280, a 2-month high. Chinese traders were not actively participating in this […]
Apple is one of the prime stocks. It made a good rally from June’s lows. Correcting itself after an upmove. In yesterday’s trade, there was a big gap down. Apple announced financial results for the fourth quarter of 2013. It posted the revenue of $57.6 billion and a net profit of $13.1 billion. On January […]
Overview: USD/JPY is expected to consolidate with bullish bias as markets await 1900 GMT FOMC interest rate announcement, this is the last meeting for Ben Bernanke as the chairman of the Federal Reserve. The Fed is expected to continue scaling back its monthly bond-buying program by another $10 billion to $65 billion. USD/JPY is underpinned […]
EUR/USD broke the seven-month lower trend line. Oscillators gave a negative divergence indication. The index of consumer confidence improved to 80.7 from 77.5 in December. The pair is trading at the level of 1.3651, the lowest point on January 29, 2014. From the last Friday the pair has been trading in a bearish phase, making […]
Overview: NZD/USD is expected to consolidate with bullish bias as markets await 1900 GMT U.S. FOMC interest rate decision and 2000 GMT (9 am Thursday NZ Time) RBNZ official cash rate announcement. Money markets see a 38% chance that the RBNZ will raise rates from 2.5% where it has stayed for nearly three years. NZD/USD […]
Overview: GBP/JPY is expected to consolidate with bullish bias as markets await U.S. FOMC interest rate decision. GBP/JPY is supported by improved investor risk sentiment and demand from the Japan importers. But EUR/JPY gains are tempered by Japan’s exporter sales. Daily chart is mixed as MACD is bearish, five and 15-day moving averages are declining; […]
Overview: USD/CHF is expected to consolidate with bullish bias as markets await U.S. FOMC interest rate decision. USD/CHF is supported by the franc sales on buoyant EUR/CHF cross and reduced in safe-haven appeal of franc as worries receded over emerging-market countries. But USD/CHF gains are tempered by the franc demand on buoyant CHF/JPY cross. Daily […]
Daily chart: The USDX is trying to take again the bullish trend which was missing forming for a couple of weeks. Now, the USDX is heading up to the 200-day moving average, as this is making a breakout in the resistance level of 80.62. However, if the USDX makes a bearish rebound at current levels, […]
Daily chart: During yesterday’s session, the pair had no significant movements, as it moved within a low range without forming patterns that could confirm a change in trend. Our bullish outlook is still very much alive in this pair, since the fractal formed near the level of 1.6447 offers very good support. Anyway, if this […]
Overview: The NZD/USD pair movement will be continued directly from the resistance at the level of 0.8390 in H1 chart (127.2% of Fibonacci retracement levels). therefore, the price of the NZD/USD pair is showing signs of weakness, following the break of the lowest level of 0.8350, hence it will be a good sign to sell […]
