Yesterday data on France and Germany was worse than forecasts. Trade Balance in France was -4.9 billion euro vs. estimates for -4.8 billion; Germany’s Factory Orders in August against estimates for a 1.2% growth declined 0.3%. Today at 14:00 UTC+4 data on Industrial Production in Germany in August is issued; forecast 1.1% vs. -1.7% in […]
Overview: AUD/USD: According to the previous events, the price has still been trapped between 0.9400 and 0.9420. Therefore, the first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bullish signs. In other words, it will be a good sign to […]
Trading recommendations: EUR/USD: According to the previous events, the price of the EUR/USD pair is still between the levels of 1.3583 and 1.3560. Moreover, it should be noted that the market was so stable and the trend was also too clear (dwonward). Similarly, the range was around 150 pips last week. Additionally, the value […]
Wave analysis: During yesterday’s trading session, the GBP/USD pair continued formation of the second wave, or b, in terms of downward corrective structure, starting from the highs of October 1-2. Meanwhile, despite the considerable price fluctuations, the currency pair could not resume decline towards the calculated corrective levels placed between the levels of 1.5945 – […]
Overview Based on the H4 chart, silver is still stabilizing below the Resistance level of 22.30 after breaking the Resistance level yesterday and closing above. If silver reverses its bullish move due to this Resistance level and manages to break the Support level of 22.00, this will give a strong indicator for the downward move […]
EURUSD: EURUSD is still in a bullish mode, although there is some threat to it. The Williams’ % Range is in the oversold situation, while the price is yet to cross the EMA 56 to the downside. As long as the price is above the support line of 1.3500, it is normal to assume the bullish […]
Overview Today’s H4 chart shows that the pair might take a new bullish signal after it bounced from the Support level of 155.75 yesterday. As it was expected yesterday, the pair took an upward movement and managed to reach the resistance level of 156.45 trying to break it through to continue the bullish trend. Currently, […]
USD/CAD Elliott Wave Since our last analyses, the USDCAD pair has been trading upwards, just like we expected, corrective wave C (coloured blue) of the bigger wave (y) (coloured green) has been developing. Yesterday, during the Asian and half of the European session we could observe a descending movement from 1.0333 towards the 1.0306 level, and we can […]
AUD/USD Elliott Wave For the last few days the AUDUSD pair has been trading upwards, corrective wave A (coloured blue) of the bigger wave (y) (coloured green) has been developing. Yesterday, during the Asian and European sessions we could observe an ascending movement from 0.9410 towards the 0.9482 level, and we can consider this move as the end of […]
EURUSD downside bias is strong. A bearish reversal pattern (double tops) was completed today and the pair broke below key support at $1.3563. Next support is being held at 1.3520. 1H chart: Indicators are bearish – RSI fell to 30 and Stochastic is below its signal, currently below 10. Price action is below the Ichimoku […]
The dollar rebounded against the yen early on Wednesday as Asian markets reacted to news that a new Federal Reserve Chief will be nominated. Janet Yellen who is the current Vice President of the Fed will be a front runner to replace Ben Bernanke when he leaves in January. Yellen’s nomination will be announced by […]
General overview for 09/10/2013 06:30 CET The first wave upwards has been done and corrective wave (ii) looks to be done as well, however it might be just the first leg of correction. Currently, the most important level to overcome for bulls to confirm the intraday bullish bias is Weekly Pivot area of orange rectangle […]
General overview for 09/10/2013 06:30 CET Finally impulsive breakout above SUPPLY ZONE has happened in impulsive fashion and the price has hit 161%Fibo Extension as a target for wave iii. Now corrective cycle wave iv is developing and more upside wave progression is anticipated. The target for wave v is 1.0386. The target for wave […]
Today’s Support and Resistance levels: R3: 1.6464 R2: 1.6425 R1: 1.6398 Current Spot: 1.6362 S1: 1.6332 S2: 1.6293 S3: 1.6267 Technical summary: The short-term consolidation is becoming pretty messy and hard to read, but as long as support at 1.6267 protects the downside, we will be looking for a break above 1.6405 and 1.6425 to […]
Today’s Support and Resistance levels: R3: 132.69 R2: 132.36 R1: 132.15 Current Spot: 132.08 S1: 131.78 S2: 131.42 S3: 131.12 Technical summary: Important support near 130.81 held well, and gave our preferred count some relief, but we are not safe. Only a break above important resistance at 132.69 would indicate that a new impulsive rally […]
Daily chart: The USDX is now trying to break the resistance at the 80.11 level. USDX is likely to break that level, because the USDX has been oversold in recent days. However, remember that the USDX is still forming a higher low pattern in this chart If the USDX makes a bearish rebound at current […]
Daily chart: GBPUSD bounced off the support level at 1.6046 and now this pair is trying to take a new path in this chart. The higher low pattern remains very much intact in this chart, however, it is likely to pair go up to resistance level of 1.6146 and if it breaks it, it is […]
TODAY’s TECHNICAL LEVELS: Resistance. 3 : 97.66. Resistance. 2 : 97.47. Resistance. 1 : 97.28. Support. 1 : 97.04. Support. 2 : 96.84. Support. 3 : 96.65. DESCRIPTION: Please, pay attention to the levels of support 3 (96.65) and resistance 3 (97.66). Normally, when a level is touched, USD/JPY will rebound from […]
TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3666. Strong Resistance: 1.3658. Original Resistance: 1.3645. Inner Sell Area: 1.3632. Target Inner Area: 1.3600. Inner Buy Area: 1.3568. Original Support: 1.3555. Strong Support: 1.3542. Breakout SELL level: 1.3534. DESCRIPTION: Today EUR/USD has support and resistance at 1.3568 and 1.3645. The rate is accompanied by strong support at […]
European markets have opened lower today, after the IMF slashed its global economic growth forecasts, and warned that the ongoing US political deadlock might hurt global economy. However, losses were slightly kept in check amid news that President Obama will nominate the dovish Janet Yellen as next Fed’s Chairman. Closer home, investors awaited a slew […]
Uncertainty about the US government shutdown and more importantly the looming debt ceiling, remains high and should continue to weigh on the dollar against majors like the euro and pound, as well as against safe havens like yen and Swiss franc. Today US President Obama gave a press conference from the White House, and called […]
Seeking to support the local community in Cyprus, where the XM headquarters are based, we have chosen to support professional rally driver Charalambos Timotheou with an official sponsorship of his team’s participation in this year’s FIA Middle East Rally Championship. Charalambos Timotheou has enjoyed multiple podium finishes during his illustrious career, including 1st place achievements […]
Daily view: Price Zone 1.3515-1.3560 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 of the previous weeks as well as October 1st ‘s bearish inverted hammer daily candlestick. However, lack of bearish follow-up was witnessed last week, […]
Daily view: The cable invalidated the previous reversal Head-and-Shoulders pattern maintaining quite strong bullish momentum to the upside. Daily closure above 1.5719 (the highest level in August) enhanced further bullish pressure to be applied, so that the bulls could step above 1.5760 (the highest level in June). The pair expressed a bearish Harami daily candlestick […]
Overview As it was expected yesterday, the metal could continue its upward move after closing above the resistance level of 22.00. Today, as shown on the H4 chart, the metal took a slightly upward move after it has managed to close 4H above the resistance level of 22.30. More bullish signals are expected as […]
Overview From the shown H4 chart, the pair failed more than once to break the Support level 155.75 and is still trading above its since yesterday. From the today’s H4 chart the pair bounced from the Support area again and started to take a slightly upward move approaching the Resistance level 156.45. Currently it […]
Strong bullish sentiment was found in 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 was able to break trough 1.5720 which corresponds to August’s highest level and the recently […]
Three months ago, a prominent bottom was established around 1.0260. This happened after the pair had broken down a consolidation range between 1.0450-1.0560, which was followed by intensive bearish pressure 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 reclosure below it […]
Overview: USD/JPY is consolidating with bullish bias after hitting near-two-month low of 96.55 this morning. It is undermined by flows to the haven JPY and unwinding of JPY-funded carry trades amid increased risk aversion (VIX fear gauge rose 15.95% to 19.41, S&P fell 0.85% overnight), and negative dollar sentiment, as the U.S. federal government enters […]
Overview: USD/CHF is trading with bullish bias. It is undermined by negative dollar sentiment, flows to the haven franc amid increased investor risk aversion, the franc demand in the weak EUR/CHF cross. But USD/CHF losses are tempered by the franc sales in the soft CHF/JPY cross. Data focus: 0715 GMT Switzerland September CPI, August retail […]
