General overview for 21/01/2014 8:15 CET After finishing the corrective cycle, the price has broken above Weekly Pivot level and now the impulsive wave progression continues. The first intraday target would be the level of 142.15, where the previous wave (iv) area is. If this level is broken, then last SUPPLY ZONE between the levels […]
EUR/USD: As indicated by the Bearish Confirmation Pattern in the chart, the pair is weak and would continue to trend lower. The weakness of the EUR/USD is expected to continue irrespective of any short-term rallies in the market. The price would soon test the support line at 1.3500. USD/CHF: As indicated by the Bullish Confirmation […]
The dollar rose against the yen but was relatively stable versus the euro during today’s Asian trading. The dollar gained 0.36% against the Japanese currency, climbing to 104.54, as strength in risk assets such as the Nikkei also hurt the yen. The euro was little changed against the dollar at 1.3549, with most of the […]
Overview In the today’s H4 chart, silver is still stabilizing above the Support level of 20.00 after it could not break it last week, and currently it is bouncing from it towards the Resistance level of 20.20. So we still suggest waiting for closing above the next Resistance level in case of bouncing from the […]
China’s central bank injecting cash into money markets kicks up risk appetite overnight, propping Asian share markets. China’s interbank lending rates ease as the central bank attempts to prevent a cash squeeze ahead of the Chinese new year. This comes a day after Chinese growth for 2013 eased, indicating that the central bank there stands […]
Daily chart: The USDX is consolidating above the 200 SMA with the formation of a bullish pattern. Yesterday’s session was used by the USDX for some corrective movements, so it is very likely that during these days, the USDX will continue to rise. However, any consolidation below the 200 SMA may indicate a change in […]
There is no economic data to be released from Japan and the US. That is why we predict this pair today to move with low volatility. TODAY’s TECHNICAL LEVELS: Resistance. 3 : 105.14. Resistance. 2 : 104.93. Resistance. 1 : 104.73. Support. 1 : 104.48. Support. 2 : 104.28. Support. 3 : 104.07. DESCRIPTION: Please, […]
Daily chart The Swiss franc as well as the other crosses with the American dollar had very few movements on Monday due to the holiday in the USA. Finally, the USD/CHF ended the day by closing with a candle of indecision. Thus, it has begun this new day and in the first 5 hours of […]
Technical outlook and chart setups: 1. Gold remains unchanged from yesterday at $1,253.00/54.00 levels at the moment. A push through is expected towards $1,267.00/70.00, before a meaningful pullback occurs. It is recommended to remain flat for now and initiate short positions higher. 2. Immediate resistance is at $1,267.00/68.00, while support is spread through $1,240.00, followed […]
Technical outlook and chart setups: 1. The metal is virtually unchanged from yesterday at $20.20 at the moment. It is expected to fall lower, and it is recommended to buy on dips from here on. Minimum expectations are the $19.40/19.00 region. 2. Immediate resistance at $20.50 has been taken off, higher one is at sub […]
Technical outlook and chart setups: 1. The currency pair has finally entered into the counter trend rally mode from sub 140.00. Possible extension is towards 143.00/50 from here on. It would be recommended to initiate short positions at that level. 2. Immediate resistance is at 143.00 followed by 145.00/50, while support is spread through 140.20/30 […]
Daily chart: The GBP/USD continues forming a lower high pattern below the level of 1.6447 and it is likely that during today’s session, the pair have important movements since yesterday’s session was slow due to the holiday in the United States. Our bullish outlook is still alive in this pair. However, if this pair makes […]
When the European market opens, some economic news will be released such as ZEW Economic Sentiment, ZEW Economic Sentiment, Spanish HPI q/q. The US will not release any economic data today, so amid the reports, EUR/USD will move with low volatility during this day. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3612. Strong Resistance:1.3604. Original Resistance: […]
European markets have opened higher today, recouping losses of the previous session as investors’ sentiment was lifted after the Chinese central bank took action in the money market to ease the nation’s cash squeeze. Closer home, Sky News reported that the IMF is on the verge of upgrading its projection for UK growth in 2014 […]
Technical outlook and chart setups: 1. GBP/CHF remains unchanged from what was discussed yesterday. As seen here, the backtest of the support turned resistance trend line which seems to be complete in the 1.4950 region. It is recommended to hold on short positions with risk above 1.5020. 2. Resistance is at 1.5020, while support is […]
Forecast for the long term: According to previous events, The NZD/USD pair has still been trapped between 0.8303 and 0.8355. Strong level (resistance) will be formed at the level of 0.8460 providing a clear signal for sell deals with the target seen at 0.8275. Stop-loss is to be placed above 0.8515. Strong level (support) will […]
Overview: The USD/CHF pair probably will form a strong support at the level of 0.8990 (above 38.2% of Fibonacci retracement levels, as well as it will also form a sturdy resistance at the 0.9150 level in the H1 chart. Equally important, it should be noted that the price is going to form a double bottom […]
Stocks in the Asian region started-off the week lower following the release of China’s GDP data, which revealed that China’s economy was growing at a slow pace in the fourth quarter. Shares in Japan were shaken by the nation’s weak consumer data and strong yen. Hong Kong’s benchmark Hang Seng declined 0.47% lower at 23,025 […]
Futures for the West Texas Intermediate (WTI) dropped from its highest price in two weeks, following the government data which revealed the China’s industrial output slowed last month. China is the second largest oil consumer in the world after the US. Futures dropped as much as 0.8%, while factory production advanced 9.7% higher, according to […]
The European single currency continued to decline against the US dollar on Friday, imitating Thursday’s trading session just before the European session’s open bell. The euro dropped 0.15% lower, trading at $1.3597 on Friday. “The generally softer tone in yields yesterday in response to weaker equities is less likely to generate any euro losses,” Lloyds […]
CRUDE OIL: With Crude Oil’s two-week recovery halted due to consolidation threats, the risk remains to the downside. Its present bear tone is suggestive of more declines with a push lower likely towards the 93.36/00 level, represent its Jan 102014/psycho level. Below here if seen will pave the way for a run at the 92.43 […]
General overview for 20/01/2014 15:15 CET Last downside wave progression has broken the low of wave 1 (current A green) and this is why the count has been changed to more complex wave structure. Currently, the upside wave progression has not been changed and there is some evidence that higher prices are possible. The upside […]
Overview: USD/JPY is expected to trade in lower range. Liquidity is thin in global day as financial markets in U.S. are shut for holiday. USD/JPY is undermined by selling of yen crosses amid diminished investor risk appetite (S&P fell 0.39% Friday) on disappointing U.S. corporate earnings, surprise drop in University of Michigan preliminary consumer sentiment […]
Overview: USD/CHF is expected trade in higher range. It is supported by broadly stronger dollar undertone, tame Switzerland December PPI (fell 0.2% on year) and franc sales on the weak CHF/JPY cross. But USD/CHF gains are tempered by the franc demand on soft EUR/CHF cross. Daily chart is positive-biased as MACD and stochastics both are […]
Overview: NZD/USD is expected to trade in lower range as traders are waiting for 21:45 GMT (10.45 am Tuesday NZ Time) New Zealand 4Q CPI. NZD/USD is undermined by the broadly stronger dollar undertone, Kiwi sales on soft NZD/JPY cross amid waning investor risk appetite and Kiwi sales on rebounding AUD/NZD cross. But NZD/USD losses […]
The euro managed to rebound from a 2-month low of 1.3508 made during the Asian session earlier, as a rise in money-market rates helped the currency to climb out of that particular hole. The overnight money-market interest rate known as EONIA jumped to 0.343%, which was much higher than the ECB’s main refinancing operations rate […]
GBPUSD: With a second day of recovery higher underway, there is risk of price extension with eyes on the 1.6516 level, its Jan 10 2014 high. A decisive break and hold above this level will pave the way for a run at the 1.6603 level, its Jan 02’2014 high. Further out, a breach of the […]
The beginning of the week could be relatively quiet because of the Martin Luther King Jr. national holiday in the United States on Monday and the lack of important data announcements out of Europe. When the US returns to work on Tuesday, there will only be a week left until the beginning of the Fed’s […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,261.23 on average volume according to M30 timeframe.We can also observe that demand has entered the market at 1,237.50 which caused the price to start bullish movement. Since the price has broken the level of 1,254.00, […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested the level of 1.6493 on high volume. As you can see in the chart, our FR 61.8 % at 1.6270 held successfully and the price started upward movement from that point. We can observe that supply had […]
