Today’s Support and Resistance levels: R3: 1.6522 R2: 1.6449 R1: 1.6359 Current spot: 1.6345 S1: 1.6331 S2: 1.6298 S3: 1.6256 Technical summary: We saw the expected decline closer to 1.6223 (the low has been 1.6214) followed by a correction higher. We expect resistance at 1.6369 will protect the upside for a break below 1.6331 calling […]
USD/CAD Elliott WaveВ Since our last analysis the USD/CAD pair has been trading upwards, impulsive wave v (colored blue) ofВ the bigger wave (a) (colored red) has been developing. In the 1-hour chart of the USD/CAD pair you canВ see that the (a definite article is needed) price found support around 1.0842, where wave iv (coloured blue) […]
AUD/USD Elliott WaveВ After a few weeks in a choppy upward move, the AUD/USD pair moved lower yesterday, impulsive waveВ i (coloured blue) of the bigger wave (v) (coloured red) was developing. Yesterday’sВ descending movements from 0.9085 toward 0.8927 look impulsive, and that is why we are going with idea thatВ corrective wave (iv) (coloured red) is already […]
Today’s Support and Resistance levels: R3: 143.09 R2: 142.84 R3: 142.54 Current Spot: 142.33 S1: 142.19 S2: 142.04 S3: 141.92 Technical summary: The clear break above 141.49 and more importantly the break above 142.04 has forced us to recount the decline from 145.69. Instead of black wave i ending at 141.49 we have moved the […]
EUR/USD: On this pair, we are watching the resistance lines at 1.3700 and 1.3750 as barriers to any possible rallies. We are also watching the supports line at 1.3600 and 1.3550 as possible barriers to bearish runs. Generally, the market is in a kind of equilibrium phase, but the bulls still seem to be gaining […]
General overview for 15/01/2014 08:05 CET The extension in wave 5 green is comming to an end and the bearish divergence on the AO oscilator must be taken into account finally. The count has been changed slightly and I have put the top for wave iii at the previous top of the wave C blue. […]
В General overview for 15/01/2014 07:50 CET The bottom at the level of 140.49 has been established and the price rebounded impulsivley to the upside. The rebound looks like it is in five waves up so it is correction time now. The Weekly Pivot level В might provide a nice support for the price, and there is […]
The US dollar was bolstered by better-than-expected US retail sales data, which helped ease concerns about the pace of growth in the US economy. Investors felt more confident in buying back the dollar after its recent retreat on the back of weak nonfarm payrolls on Friday. December US retail sales edged up in December by […]
Daily chart: The USDX has been consolidating over the level of 80.62. This consolidation has been achieved thanks to the bullish force that presented the USDX in the past due to fundamental factors. However, it is very likely that the USDX find dynamic resistance in the 200 SMA. On the other hand, if the USDX […]
Daily ChartВ The American Petroleum Institute reported a decrease of 4.1 million barrels in crude supplies for the week ending January 10. The analysts had forecast a fall of 1.6 million barrels in the crude supplies. As a result of this announcement crude oil prices recovered their loss of the previous session, which was above […]
Daily chart: The pair tried to consolidate above the level of 1.6447, but again the GBP/USD has found resistance at that level. The trend is not clear yet in this chart, as the GBP/USD has made sideways movement within the range between the levels of 1.6326 and 1.6447. However, if the pair manages to break […]
When the European market opens, some economic news will be released such as Trade Balance.В The US will release some economic data such as the US-PPI m/m, US-Empire State Manufacturing Index, and Crude Oil Inventories, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: […]
In Asia, Japan will release the M2 Money Stock y/y, 30-y Bond Auction, and Prelim Machine Tool Orders y/y,В and the US will release some economic data such as US-PPI m/m, US-Empire State Manufacturing Index, and Crude Oil Inventories. So there is a big probability the USD/JPY will move with low to medium volatility during this […]
European markets have opened higher today, as investors grew optimistic about the global economic recovery after the World Bank revised higher its global growth forecast. Closer home, investors await the release of the Conference Board’s leading economic indicator in the UK, due later in the day. Related Posts:Weekly forecast based on simplified wave analysis of… […]
The daily pivot point of the GBP/USD pair is 1.6405. В Overview:В The GBP/USD pair will probably be trapped between 1.6373 and 1.6516 consequently; it is of the wisdom to be careful at this range area of 143 pips. In particular, it will be too meaningful to wait for a period of tight sideway range […]
В Overview:В The AUD/USD pair had risen from the strong level of 0.8866 and it had extended further to as high as 0.9070 yesterday but it closed at the 0.8962 level to day. It should be noted that the support will form at 0.8866 because this level has also formed double bottom on January 15, […]
В Fundamental analysis Futures on light crude oil rebounded this Tuesday in the United States following the losses in the previous day, waiting for data on key weekly supply of the United States determine the intensity of the demand for oil from the largest consumer of black gold of the world. However, amid the fundamental aspect […]
Overview In the today’s H4 chart, the metal is still trading below the Resistance level of 20.50 and above the upward trendline which is tested now with the Support level of 20.20. So we should wait for closing 4H below the upward trendline to create a new bearish opportunities. In that case the metal might […]
OverviewВ Yesterday, the pair failed to break the Support area at 168.30-169.00 to reverse its bearish movement taking an upward move, and managed to break the Resistance level of 169.80. Currently, it is trading above it. The pair continues its bullish movement and closes 4H above the Resistance level of 170.50 which has been already […]
The USD/CAD bulls are pushing towards higher price levels (1.0900) that haven’t been reached since September 2009.В The USD/CAD pair has been strongly bullish since September 16. The current Bullish momentum was initiated at retesting of 1.0250 (shown on the depicted chart). Daily fixation above 1.0570 enabled the pair to establish a consolidation range between […]
Bullish movement above 1.3450 within the depicted bullish channel allowed the pair to reach further supply levels around 1.3650 and 1.3750, respectively. This was taking place until obvious bearish rejection was expressed at 1.3850 (failing to reach 100% Fibonacci Expansion at 1.3904). Few days later, the bulls managed to break down the lower limit of […]
A breakthrough above 1.6240-1.6300 took place at the end of November. A wide consolidation range was established between 1.6240-1.6450. The last bullish impulse was initiated towards 1.6570-1.6600 in an attempt of bulls to record new highs in 2013. Bearish pressure was applied near the level of 1.6600 (the upper limit of the expanding wedge) resulting […]
Royal Dutch Shell (RDSA.L) is on the move after rumours that the company plans to sell $15Bln worth of assets, possibly including some of its Oil fields in the North Sea. The company has been critised recently for over spending and poor returns to investors compared to others in the sector. Recent quarterly results have […]
(click to enlarge) Following the disappointing employment report, today’s advance retail sales for December was the most important indicator of the current week concerning the US economy. Specifically, the question is whether the much weaker-than-expected nonfarm payrolls is an indication of a weakening US economy or if other indicators are pointing to a decent economic […]
Dow Jones Industrial Average (US30) opened up as December retail sales came in above expectations. This brought a halt to the steep drop experienced yesterday and if the DOW finishes up today it will break a 4 session losing streak. also contributing to the rise was JP Morgan (JPM) results which cheered investors and revealed […]
Moss Bros (MOSB.L) has recieved a boost after the company announced it was increasing dividend after full year profits beat forecasts. Like-for-like sales also jumped 12.9% in the five weeks to January 11th and rose 7.3% in the 24 weeks to the same day. Chief Executive Brian Brick said “The improved sales performance and continued […]
Positive newsflow from the Eurozone kept the euro buoyed while the pound recovered after UK inflation data. In other news, US retail sales helped the dollar against the yen but otherwise had little impact. The main data release during the European session was UK CPI data for December, which showed a slower pace in inflation […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downward, the price tested the level of 1.6218 on high volume. As you can see in the chart, FR 61.8 %В did not В holdВ at 1.6330. We may see the testing of major Fibonacci Expansion level at 1.6150, before major bullish continuation phase. In case that […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested again the level of 1,254.79 on average volume.We can alsoВ observe that demand has entereted the market at 1,244.00 which is a sign that selling at this stage looks risky. If the price breaks the level of 1,256.00 (FE […]
British Sky Broadcasting (BSY.L) has recieved a boost after bank UBS upgraded their rating to BUY from Neutral. UBS said: “We think trading at Sky (BSkyB) will remain resilient despite competition from the new BT Sport channel. We do not think the economics for BT Sport stack up and expect Sky to agree a wholesale […]
