OvervieW: NZD/USD is seen to trade with bearish bias undermined by positive dollar sentiment and reduced risk appetite. But NZD/USD losses are tempered by Kiwi demand on soft AUD/NZD cross and Kiwi demand on buoyant NZD/JPY cross amid weak yen sentiment. The daily chart is mixed as MACD is bearish, but stochastics turned bullish at […]
Overview: GBP/JPY is expected to range-trade undermined by reduced investor risk appetite and Japan exporter sales. But GBP/JPY downside limited by weak yen sentiment and demand from Japan importers. Daily chart is still positive-biased as MACD is bullish; stochastics stays elevated at overbought, five-day moving average above 15-day MA and advancing. Trading recommendations: The […]
Overview: USD/CHF is expected to trade in higher range underpinned by positive dollar sentiment. But USD/CHF gains tempered by franc demand on buoyant CHF/JPY cross amid weak yen sentiment. Daily chart mixed as MACD bearish; but stochastics rising from oversold. Trading recommendations: The pair is trading above its pivot point. It is likely to trade […]
Today’s Support and Resistance Levels: R3: 1.6727 R2: 1.6664 R1: 1.6601 Current Spot: 1.6578 S1: 1.6553 S2: 1.6488 S3: 1.6446 Technical Summary: The big question here is whether we have seen the bottom of red wave ii at 1.6488 (just above the ideal target at 1.6446) or we will see minor resistance at 1.6601 protect […]
Today’s Support and Resistance Levels: R3: 141.59 R2: 140.70 R1: 139.89 Current Spot: 139.86 S1: 139.52 S2: 138.97 S3: 138.31 Technical Summary: Minor support at 138.97 did hold for the final rally higher towards the ideal target at 139.89 (the high has been 139.90). As confirmation that we have seen the top of wave v […]
GOLD In Asian’s trading session gold pulled back up to $1224 currently trading marginal up at $1220. Traders are not running to buy gold at lower levels, hence there is no demand at lower levels. Each and every trader’s eyes are closely watching the Fed actions. Tampering waves are spreading which takes away the glitters […]
A few hours after the European market open there will be release of some news like PPI m/m and the Spanish Unemployment Change; and at the US market session there will release of some news like US IBD/TIPP Economic Optimism and the US Total Vehicle Sales, both news is not important, so we predict the EUR/USD […]
After the Asian session starts, there will be release of some news from Japan like Average Cash Earnings y/y, Monetary Base y/y and for the US market session there will be release of some news like IBD/TIPP Economic Optimism, Total Vehicle Sales, so we predict today’s volatility for the USD/JPY will move in slow to moderate condition. […]
Daily chart: The USDX made a bullish rebound above the support level of 80.62 and now it is very likely to go up to the 200 SMA. Uncertainty still dominates in the USDX’s movements, but this week will be decisive for the general trend of the USDX, because economic data so important for the U.S. […]
Weekly Graphic Crude Oil started the week with more than 130 pips higher. This scenario came after manufacturing data from China which has provided vital support for crude oil, and there is some optimism that an increase in manufacturing activity will support demand for oil more was known. HSBC’s monthly survey of China’s manufacturing sector […]
Daily chart: The GBPUSD made a bearish rebound from resistance level at 1.6447. Now this pair is trying to consolidate above support at 1.6326 level, because this pair did not form a fractal near the 1.6447 level, so we can not yet talk about a turnaround in the GBPUSD. However, this is likely to pair […]
Daily Graphic As we stated our opinion for the previous session on Monday, we saw the USD/CHF ended the day and began with considerable bullish session to finally retract to 0.9085 from 0.9109 at its peak, however in no time the price was below your weekly pivot, which does not provide a new opportunity to […]
European markets have opened lower today, tracking losses on Wall Street and in Asian markets, as positive US economic data reignited speculation that the US Federal Reserve would start trimming its stimulus measures sooner than expected. Meanwhile, the British Retail Consortium reported that UK retail sales increased 2.3% YoY in value terms in November, following […]
Gold dipped below the previous low $1277 trading at $1221 on Asia’s trading session. Yesterday in the last hour of trading session gold formed a small support at $1217.4 on the hourly chart. I recommend go long with sl 1217 for the targets 1224 1227. Above 1224.5 could pull back little bit more towards 1225 […]
Janet Yellen Is Close to Making History in Two Ways Psychology appears near a major turn By Elliott Wave International Janet Yellen just moved closer to her place in history when the Senate Banking Committee approved her nomination to lead the Federal Reserve. The full Senate is expected to confirm. If so, she will be […]
The US dollar was the main focus of the US session today as the currency surged to 103 yen for the first time since May 22 on the back of upbeat ISM data. The manufacturing index beat expectations in November to rise to 57.3 from 56.4 in October, compared to a forecast for a drop […]
Overview: USD/JPY is set to trade with bullish bias after hitting the six-month high oа 102.61 Friday underpinned by weak yen sentiment amid expectations that the Bank of Japan will take further easing steps if Japan’s economic growth and ambition to reach 2% inflation by the end of March 2016 are threatened by the […]
Overview: NZD/USD is going to trade in a higher range after hitting the two-and-a-half-month low at 0.8081 Friday. Supported byhigher-than-expected 7.5% rise in New Zealand’s 3Q terms of trade (versus +2.9% forecast), rebounding commodity prices, and the Kiwi demand on NZD/JPY cross amid weak yen sentiment. But the NZD/USD gains are tempered by waning […]
Overview: GBP/JPYis going to consolidate undermined by subdued investor risk appetite, weaker euro sentiment after surprise drop in Germany October retail sales, and Japan exporter sales. But GBP/JPY downside is limited by weak yen sentiment, demand from Japan importers. Daily chart is still positive-biased as MACD is bullish, stochastics stays elevated at overbought, five-day moving […]
Overview: USD/CHF is going to consolidate after hitting one-month low at 0.9025 Friday. The Swiss franc sentiment boosted by better-than-expected rise in Switzerland KOF economic barometer to 1.85 in November (versus forecast 1.84) from 1.72 in October. USD/CHF was also undermined by the franc demand on the CHF/JPY cross amid weak yen sentiment. Daily chart […]
Monthly chart Crude oil ended the previous month below its weekly and monthly pivot at 91.77 reaching a minimum near its S – 1 weekly. At the beginning og the month, black gold tries to recover after 3 months of constant crashes, however this attempt will be limited primarily by your monthly pivot at 93.73 […]
Weekly Graphic Starting a new week and a new month, the USD/CHF began rising from the area of 2/8 (red line), the same in this time frame becomes an important line of reversal and this day could be just the beginning of a continuation of the upward trend in the medium and long term. But […]
Gold prices have been trading below the key 1300 an ounce over 3 weeks, since November 11. Gold dropped further on Monday to touch a low of 1227.64 an ounce by later European session trading hours. Fundamentals have resulted in an increasing bearish sentiment on the precious metal as speculation of Fed tapering is dampening […]
The euro made a big reversal after failing to sustain a break above 1.36 against the dollar and tumbled 0.44% to 1.3539. Despite mostly better-than-forecast November Euro zone PMIs released today, readings from Spain and France remained in contraction territory. Meanwhile, market participants are also awaiting the European Central Bank policy decision on Thursday. The […]
Overview: Since our last analysis, gold has been trading sideways around the price level of 1,238.00, we expect more bearish continuation. In the daily chart, we can observe weak demand bar on volume below the average and rejection of the previous swing low at 1,252.00, which means that gold may continue bearish movement. We are […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downwards, price tested level of 1.6498 on volume above the average, and started bearish corrective phase. Potential levels for the end of the correcrtive phase are 1.6480, 1.6427, 1.6351, 1.6270. Since our major Fibonacci expansion 61.8% was held, we may expect a re-building of […]
General Overview for 02/12/2013 10:40 CET The five wave implusive or Triple ZigZag upside wave progression is very close to be finished as the target on H4 time frame has been hit. However, in case of extension next zone for possible wave (c) termination is 140.78 – 141.01, that can be seen on H4 chart. […]
Technical Outlook and Chart Setups: The metal has formed a sloping channel resistance line in the recent days as shown here. Till the time, Gold is below the channel resistance line, there are all possibilities for fresh lows printed below 1180.00 levels. At the moment, the fibonacci 0.786 support is again being tested as seen […]
The Dollar index has held its support levels and is making an upward bounce and try to break above the resistance level at 81. Last week we noted that it should be preferred to buy and open long positions near support levels at 80,50-45. Now prices trade near 80,85-90. This upward bounce will find resistance […]
Gold prices are still in a corrective phase and there seems to be a sideways pattern forming that can help us define important support and resistance levels that if broken could push prices signifiacantly towards either direction. Prices have moved impulsively from 1226 to 1258. After that high was made, prices are trading within that […]
