USD/CAD Elliott Wave Since our last analysis, the USDCAD pair has continued trading lower, corrective wave .b (coloured black) of the bigger wave b has finished developing. Yesterday, during the Asian and European sessions, we could observe a descending movement from 1.0308 towards the 1.0270 level, and we can consider this move as the end of […]
Markets slip after NFP melt up Morning Report: 08.45 London • Yesterday, there were a few puzzled faces as markets ‘melted’ up on disappointing Non Farm Payrolls. This morning reality has crept in with markets on the back foot, a move further fuelled by China concerns. • The Antipodean currencies of the Australian and New […]
AUD/USD Elliott Wave Since our last analysis, the AUDUSD pair has continued trading upwards, corrective wave c (coloured blue) of the bigger wave (w) (coloured green) has been developing. Yesterday, during the Asian and European sessions, we could observe an ascending movement from 0.6452 towards the 0.9730 level, and we can consider this move as the end of the (w) […]
The EURUSD broke the 8-month high of 1.3709 (1st February, 2013), following the delayed release of the September employment report the previous day. The euro made a new high of 1.3793 in Asian trading following the report’s release, which takes the pair back to levels last seen in November of 2011. In order to get […]
The US dollar struggled to stabilize following the battering it received after Tuesday’s weaker-than-expected US nonfarm payrolls report for September. According to a Reuters poll, the majority of primary dealers who deal directly with the Federal Reserve, now don’t expect any tapering of monetary stimulus before March. The US dollar managed to firm slightly by […]
Today’s Support and Resistance levels: R3: 135.76 R2: 135.32 R1: 135.05 Current Spot: 134.78 S1: 134.55 S2: 134.31 S1: 134.10 Technical summary: We finally saw some acceleration higher as wave iii is getting under way. That said, we expect even more acceleration higher and once we clear 136.00, this wave iii should really take off. […]
Today’s Support and Resistance levels: R3: 1.6406 R2: 1.6356 R1: 1.6300 Current Spot: 1.6297 S1: 1.6265 S2: 1.6230 S3: 1.6196 Technical summary: We have seen an unexpected rally above important resistance at 1.6233, which tells us, that blue wave v became the fifth wave failure (no new low was seen), that also means that we […]
The release of the US Non Farm Payrolls and US Unemployment Rate reports, which showed a decrease in the Unemployment Rate figures of 7.2% more than expected 7.3%. Now, EUR/USD is running side by side with the US Stock indices $INDU and the Gold (XAU/USD); EUR/USD now is in a Bullish situation. There is a […]
Yesterday, after released the US unemployment rate and US Non Farm Payrolls data, the USD/JPY price moved in the Sideways/Ranging situation event all the market stock indices $INDU (Dow Jones) and Gold (XAU/USD) has already given good results, USD/JPY moves in the range between 97.86 to 98.47; and for today no any important news data will […]
Daily chart: The USDX continues to fall after it completed to form a higher low pattern and the USDX fell through the support level of 79.19. If the USDX manages to break that level, it is expected to fall to the level of 78.12. On the other hand, it is very likely that the USDX […]
Daily chart: This pair held a bullish rebound at the support level of 1.614, after having formed a lower high pattern below the resistance level of 1.6235. If the pair manages to break that level, it is expected to rise to the level of 1.6326 and bullish trend could be strengthened by a few days. […]
Technical outlook and chart setups: The metal has rallied the past resistance at 1,330.00 clearly. It is recommended to exit short positions for now since the rally could extend straight from current levels towards 1,400.00 and higher. Best trade strategy would be to go long on dips from here on. Fibonacci retracement levels are pointing […]
Technical outlook and chart setups: The metal has rallied above the past initial resistance at the 22.50 levels as depicted here. It is recommended to exit short positions if any and change the trading strategy to buying on dips from here on. Fibonacci retracement levels are pointing towards the 21.30/50 levels as best buy for […]
Technical outlook and chart setups: The currency pair stopped us out yesterday and printed fresh highs above the 135.00 levels. It is recommended to remain flat for now and await a possible reversal signal to go short or retracement to go long from here on. Initial trendline support remains at 131.00, followed by 129.00 and […]
Technical outlook and chart setups: The currency pair is seen to be near the bottom of the trading range of 1.45 and 1.46. Please note that the short-term support trendline is passing through the same region at the moment indicating a bullish bounce. It is recommended to remain long and also add further positions now. […]
European markets have opened lower today, as growing concerns over rising bad loans in China’s biggest banks and data showing a surge in China’s benchmark money-market rate, overshadowed optimism that the US Federal Reserve might maintain its stimulus measures for an extended period of time. Closer home, investors await the release of the minutes of […]
The dollar suffered steep losses on Tuesday following a weaker-than-expected employment report. The euro made a 2-year high against the greenback but failed to pierce the 1.38 level, climbing 0.78% to trade at 1.3782 in late New York trading. The pound gained 0.63% to trade at 1.6238. The delayed release of the September employment report […]
Overview From the today’s H4 chart and as it was expected yesterday, the pair might take a new bullish signals in case of closing 4H above the Resistance level 158.70 after it was tested yesterday. Today the pair took an upward movement and has managed to break the strong resistance area 158.70 then 159.00 keeping […]
Daily chart The U.S. dollar continues to lose ground against its other peers and against the Swiss Franc, which is not exception. Data on US Non-Farm Employment Change in September was disappointing and the market seized up the news to resume the selling of the dollar, which had begun in the second half of […]
Overview From today’s H4 chart, the metal took an upward move yesterday after its rebound from the upward trend line breaking the Resistance level 22.00. But rapidly silver hits the Resistance area 22.50-22.80 which is tested now. Currently silver is trying to break it through to continue its bullish move. In this case we might […]
Overview: NZD/USD is consolidating with bullish bias. NZD/USD is supported by Kiwi demand on NZD/JPY as weaker yen sentiment supports the cross; expectations that the Federal Reserve will delay tapering its bond-purchase program till early next year. But NZD/USD upside is limited by Kiwi sales on buoyant AUD/NZD cross. Daily chart is mixed as MACD […]
Overview: GBP/JPY is consolidating in higher range. GBP/JPY is supported by weaker yen sentiment; demand from Japan importers. But EUR/JPY gains are tempered by Japan exporter sales. Daily chart is positive-biased as MACD and stochastics are bullish, although latter is at overbought; five-day moving average is above 15-day MA and advancing. Trading recommendations: The pair […]
Overview: USD/CHF is consolidating with bearish bias. USD/CHF is undermined by franc demand on CHF/JPY as weaker yen sentiment supports the cross; expectations that the Federal Reserve will delay tapering its bond-purchase program till early next year. Other data: 06:00 GMT Switzerland September trade balance. Daily chart is mixed as MACD is bullish, but stochastics […]
Overview: USD/JPY is consolidating in higher range. USD/JPY is underpinned by weaker yen sentiment after Japan exports rose 11.5% on year in September–well below forecast of +16.1%–and posted a Y932.1 billion trade deficit in September, extending its run of shortfalls to a record 15th month and raising expectations of further official actions to weaken the […]
Four months ago, a prominent bottom was established around 1.0260. This happened after the pair found strong bearish pressure around 1.0555-1.0600, this was followed by intensive bearish momentum that led to 1.0254. An important key level was located around 1.0505. This was the key level for the last week’s movement as the re-closure below it […]
Strong bullish sentiment was found at the support zone around 1.4830, which pushed the pair to the upside reaching 1.5400, then 1.5700, where two prominent tops were established. The uptrend line around 1.5430-1.5400 applied bullish pressure on the pair which managed to break through 1.5720, thus matching the August highest level and the recently established […]
Daily overview: The price zone of 1.3560-1.3600 represented a valuable supply zone that kept the price below for almost two months. The pair was showing some bearish rejection manifested in the daily candlesticks as seen on October 10, a bearish engulfing daily candlestick. However, lack of bearish follow-up was witnessed around 1.3480. Instead, a signficant […]
Daily overview: Daily closure above 1.5720 (the highest level in August) enhanced further bullish pressure to be appliedб so that the bulls could step above 1.5760 (the highest level in June). The previous bullish swing targeted 100% Fibonacci Expansion level. However, the current bullish swing was strong enough to bypass this levelб when the […]
Daily chart Crude Oil fell below $100 during the first trading day this week, breaking the support area which was bounded by the line 0/8 (solid line) considered last stand area. So far today, Tuesday the price continued to fall, however we have no support at the 98.44 area which possibly retract the topside because […]
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