Every market participant now worries about the next US FOMC meeting. Particularly, the matter of concern is whether the tapering off begins December 2013. However, most forecasts of tapering have been pushed to March 2014. Now the market moves slightly slow, especially today since there are no data releases scheduled for today from Japan. Only during […]
Yesterday EUR/USD is moving in a tight range, this is happening because of the issue of tapering QE at the nearest December meeting. 29 from 63 economists believe the tapering will start this month and the rest believe in March 2014. If the tapering starts now in December 2013, it will change the investment direction […]
Daily chart: The USDX continues its decline below the 80.11 level. We should note that the level of 79.84 is serving as a temporary support as the USDX formed a fractal there few days ago. If the USDX breaks out that level, it is likely to fall to the level of 79.19. Moreover, if the […]
A rise in the US economy brings the Fed December meeting into the limelight. Tomorrow’s Fed decision will make more clear future picture for financial markets and gold. The health of the US economy was indicated by the recent economic data such as the jobs market, which is the key factor, and the inflation rate […]
Exxon Mobil shows a good rally from the October low at 84.84. It has moved all the way to 98.8. Indicators are overbought slightly. It has broken up yearly trendline. I could expect Exxon to move much more higher to levels around 103. Monthly charts are showing bigger targets. Before an upward movement, it should […]
Daily chart: The GBP/USD has been forming a higher low pattern below the 1.6326 level. It seems that this pair is unlikley to continue falling, because it is finding support at current levels. If the GBP/USD pair takes a bullish rebound, it’s expected to rise to the level of 1.6447. Moreover, if this pair does break the […]
NZD/USD: Resistance: 0.8395 (sell below this level). Support: 0.8103 (buy above this level for retesting this level for a short period). Trend: sideways trend in the frame time of H4. Range: 76 pips (daily) and 280 (weekly). Weekly pivot point: 0.8247 […]
European markets have opened lower today, as investors avoided taking strong bets ahead of a policy meeting at which the US Federal Reserve would decide the timing of possible reduction in its stimulus measures. Closer home, investors eyed November inflation data, due today, to gauge the market direction. Related Posts:Can Q1 earnings season refuel the […]
Overview According to expections expressed last week, the price’s close below the Resistance level 19.75 would give new opportunities for sell signals. Currently the metal has already managed to close below the Resistance level to trade below and open the way towards 19.20 as the first target, then the metal must test the Support […]
Overview As shown on the today’s H4 chart, this week the pair has opened below the Resistance level 168.60 which means the pair will almost reverse its bullish move this week, it takes a downward move. Today the pair has already started its downward move after it had hit the Resistance level 168.60 and […]
Daily chart This morning the USD/CHF pair was slightly receding after another fall to 0.8850, which is certainly an important area of support and possible reversal in the line and 1/8 (yellow line), which is considered as a weak support line. But the price has stopped at these levels for 3 previous attempts to pass […]
Daily chart Crude Oil prices came down in the early hours of the opening session. However, this morning it resumed its upward trend again placed above its daily pivot at 96.78, which is only 10 pips from its line 3/8, it is also being overcome. This line 3/8 becomes the basis of its trading […]
Overview: The USD/JPY consolidates after hitting five-year high of 103.92 Friday.The USD/JPY was undermined by position-squaring and selling of yen crosses amid diminished risk appetite (VIX rose 1.42% to 15.76, U.S. stocks ended roughly flat Friday as S&P slipped 0.01%, DJIA gained 0.1%). The market is cautious ahead of Tuesday-Wednesday’s Federal Reserve policy meeting. The USD/JPY […]
Overview: NZD/USD is trading in higher range. Kiwi sentiment were boosted by rise in quarterly Westpac McDermott Miller Consumer Confidence Index to 120.1 in December versus 115.4 in the September survey, its highest level since September 2009. NZD/USD is also supported by position-squaring as market participants trim exposure ahead of Wednesday’s FOMC decision; Kiwi demand […]
Overview: GBP/JPY is trading in higher range after rebounding from its support. The rate is undermined by weaker euro sentiment; diminished risk appetite; profit-taking on euro-longs ahead of Wednesday’s FOMC decision; Japan exporter sales. But EUR/JPY losses are tempered by demand from Japan importers. Trading recommendations: The pair is trading above its pivot point. […]
Overview: USD/CHF is trading in lower range supported by positive dollar sentiment; profit-taking on CHF-longs ahead of Wednesday’s FOMC decision. Daily chart mixed as the MACD is bearish, but stochastics remain bullish at oversold. Trading recommendation: The pair is trading below its pivot point. It is likely to trade in a lower range as far […]
The Federal Reserve’s decision to maintain or reduce the pace of asset purchases is most likely to prove the highlight of the next few days. The consensus is that the Fed will wait for the New Year before it begins tapering, but recently strong US economic statistics might have tipped the balance in favor of […]
Overview: Since our last analysis, Gold has been trading sideways, around the price of 1,235.00, we are still waiting for further downward movement. Anyway, In the daily chart, we can observe demand bar on volume above the average which may be a sign for smaller bullish corrective phase. We are still likely to see it […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideway around the price of 1.6681. We are still waiting for further bullish movement and the testing of 1.7000. Since our FR 38.2% has held, the level of 1.6480 is the possible end of the bearish corrective phase. I have placed Fibonacci expansion levels […]
The euro traded higher against the dollar and the yen during today’s European session, on the back of encouraging business confidence surveys for the Eurozone, which suggested the single currency area’s economy was continuing to recover at a steady pace. The flash PMI business confidence indicators for the Eurozone during December showed that manufacturing posted […]
AUD/USD Elliott Wave The AUD/USD pair has been trading downwards for the last couple of weeks, low at the Friday change our count from corrective to impulsive structure, so let us see what can we expect next in this pair. During the Friday’s Asian and European sessions, we could observe descending movements from 0.8960 towards the 0.8908 level. […]
USD/CAD Elliott Wave For the last few days pair has been trading upwards, so we have switched alternate and primary count, we are going to look for one more push higher to complete the bigger wave b. During the Friday’s European session we could observe ascending movement from 1.0623 towards the 1.0667 level. Therefore, during the New York session this commodity […]
The Dollar index has given a small bullish sign on Friday and today ше is back testing this break out. The downward sloping wedge was broken upwards. Prices stopped their decline at the 61,8% Fibonacci retracement. A bounce was justified from this area. Prices made a small upward impulsive move and today we see a […]
Price action in Gold has not made things any clearer with the current wave structure. There are two very possible scenarios still very possible and valid. The first scenario implies that wave 5 is not over yet and we should expect a new lower low towards 1,180-1,200. The second scenario implies that the decline from […]
General overview for 16/12/2013 09:30 CET The Friday’s afternoon 100 pips rally in clear five wave structure was mostly retraced now. There is still a chance that upside continuation of the corrective cycle will be continued. This scenario is possible as long as the level of 1.0559 holds. This is a confluence level with lower […]
Technical outlook and chart setups: As depicted here, the recent rally from 1,211.00 levels last week was reversed from 1,268/69 levels; which were past support turned resistance. Till the time prices are below 1,270/75 levels, it is recommended to refrain from buying. Also please note that the down channel line is still intact and we […]
Technical outlook and chart setups: The metal pulled back from the 0.382 fibonacci resistance at 20.40/50 levels for now. Though further upside cannot be ruled out completely, 21.50 would be the level to watch for major resistance as it is the 0.618 fibonacci retracement. Also, the channel line resistance would be passing through 21.50 in […]
Technical outlook and chart setups: The currency pair stopped out last week and hit fresh highs at 142.80/90 levels, which had been expected. Since then, the pair has broken down the short-term trend line as depicted here. Support levels are spread through 141.00 levels, followed by 137.00, 134.00 and lower; while resistance is now fixed […]
Technical outlook and chart setups: The currency pair could be said to be still testing the trend line support as depicted here, at 1.4450/1.4500 levels. It is recommended to hold on to long positions taken last week with risk at 1.4400. Support levels are spread through 1.4350 levels, followed by 1.4200 and 1.4000; while resistance […]
General overview for 16/12/2013 10:00 CET Five impulsive waves to the downside has been made in recent price development. The structure starts to look like a potential Head-and-Shoulders price formations is being developing and the KEY AREA is a potential right shoulder termination zone. If this area is broken to the upside, then a test […]
