Overview: USD/CHF is consolidating with bearish bias after hitting one-and-a-half year low of 0.8965 Thursday. It is undermined by negative dollar sentiment, flows to the haven franc amid increased aversion. But USD/CHF losses are tempered by positions adjustment before weekend. Daily chart negative-biased as MACD is bearish, stochastics stays suppressed at oversold, 5- and 15-day […]
Overview: USD/JPY is consolidating with bearish bias after hitting a five-week low of 96.93 Thursday, as markets are awaiting Bank of Japan’s monetary policy decision: All 10 economists surveyed by The Wall Street Journal expect BOJ to stay pat on its key monetary policy. USD/JPY is undermined by flows to haven yen amid increased risk […]
Overview: GBP/JPY is trading in a range. It is supported by positive euro sentiment, demand from Japan importers. But GBP/JPY upside is limited by Japan exporter sales, weak investor risk appetite, positions adjustment before weekend. Daily chart is still negative-biased as MACD and stochastics are in bearish mode; 5-day moving average is below 15-day MA […]
The Bank of Japan left monetary stimulus unchanged as Japanese Prime Minister Shinzo Abe decided the economy is seeing a moderate recovery and business confidence has surged. The yen remained strong after the announcement, keeping the US dollar under pressure and near August lows. USDJPY traded a range in the Asian session between 97.02 and […]
Daily chart: The USDX continues extending its drop below the resistance at 80.11, and now the chances that the USDX will fall to support at the 79.19 level very soon are increased. However, it is possible that the USDX begin forming a bearish pattern, because the fall would not become completely lateralized. On the other […]
Daily chart: GBPUSD made a bearish rebound at the resistance at 1.6235, and now this pair has dropped to support at the 1.6146 level. If the pair manages to break that level, it is expected to fall to the level of 1.6046. Moreover, this pair is forming a lower high pattern below the level of […]
Today’s Support and Resistance levels: R3: 1.6565 R2: 1.6515 R1: 1.6464 Current Spot: 1.6423 S1: 1.6380 S2: 1.6362 S3: 1.6323 Technical summary: In the short-term we expect that minor support at 1.6380 will protect the downside from a break above 1.6464 and more importantly a break above 1.6515, which will confirm the next powerful […]
Today’s Support and Resistance levels: R3: 133.49 R2: 133.21 R1: 132.69 Current Spot: 132.32 S1: 132.13 S2: 131.89 S3: 131.42 Technical summary: We are more or less trading sideways currently. We are still looking for evidence in the form of a break above 133.49 and more importantly a break above 134.00 to confirm that […]
TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3688. Strong Resistance: 1.3680. Original Resistance: 1.3667. Inner Sell Area: 1.3654. Target Inner Area: 1.3622. Inner Buy Area: 1.3590. Original Support: 1.3577. Strong Support: 1.3564. Breakout SELL Level: 1.3556. DESCRIPTION: Today EUR/USD has support and resistance at 1.3577 and 1.3667. The rate is accompanied by strong support at […]
TODAY’s TECHNICAL LEVELS: Resistance. 3 : 97.64. Resistance. 2 : 97.45. Resistance. 1 : 97.26. Support. 1 : 97.02. Support. 2 : 96.83. Support. 3 : 96.63. DESCRIPTION: Please, pay attention to the levels of support 3 (96.63) and resistance 3 (97.64). Normally, when a level is touched, USD/JPY will rebound […]
Technical outlook and chart setups: The metal has raised past 22.00 levels for now and is expected to push higher through 22.20/30 region as well soon. It would be recommended to buy on dips after that; keeping stop at the 20.00 levels. The following convergences are found at 20.50 region: 1. The fibonacci 0.786 support […]
Overview: The NZD/USD pair will continue moving straight from the level of 0.8200 (at H1 chart 00% of Fibonacci retracement levels: 0.8216), additionally it is probably going to form a double bottom. Therefore, the Kiwi is showing the signs of strength following the break of the highest level of 0.8216. Thus, it will be […]
Technical outlook and chart setups: As it is seen here, the metal has recently bounced off the 0.618 support region at 1,277.00 recently. The past support of 1,270.00 remains intact as well. It is, therefore, recommended to remain long in the counter with stop at 1,270.00. Also note that resistances are lined up from 1,350.00 […]
Technical outlook and chart setups: The currency pair has bounced off right at the trendline passing around the 131.40 mark, just within the 131.50 area. If stopped out, it is recommended to remain long again, with a stop of 131.10/20 again. The following convergences can be seen occurring here: 1. Rising trendline bounce. 2. Fibonacci […]
Technical outlook and chart setups: The currency pair has broken the past 1.4550 levels, as depicted in Daily chart. It is recommended to remain short with risk above the 1.47 levels. Immediate resistance is now at 1.47, followed by 1.48 and 1.5; while support levels are 1.4200, and 1.4 respectively. As it is seen here, […]
Overview: Key level will be set at the price of 1.0380. Range: between 1.0375 and 1.0235. The resistance for USD/CAD is set at the level of 1.0380, therefore, the bears are going to sell below 1.0380, because there is a double top at the price of 1.0380 (61.8% Fibonacci retracement levels). So it should also […]
European markets have opened mixed today, as investors grew concerned that Washington’s budget deadlock and its failure to raise debt limit ceiling might impact the world’s biggest economy. With no release of major domestic economic data during the day, investors await the release of Eurozone producer prices data and speeches from several US Federal Reserve […]
The dollar weakened further in the US session on Thursday after US data showed growth in the services sector fell in September as the pace of new orders dipped and hiring declined. Along with the disappointing data, investors are concerned that the US shutdown has entered its third day and there does not seem to […]
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 […]
Daily view: Price Zone 1.3515-1.3560 represents a valuable Supply zone that kept price below for almost two months. The pair was showing some bearish rejection manifested in the Daily candlesticks of previous week as well as yesterday’s bearish inverted hammer daily candlestick. However, lack of bearish follow-up was witnessed this week when the pair spiked […]
Daily view: The cable invalidated the 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 […]
Three months ago, a prominent bottom was established around 1.0260. This happened after the pair broke 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 re-closure below it enabled […]
The Swiss Franc in daily chart is in a strong support area, there is at the Fractal of 0.90 below the 2/8 from the line of Murray, the fact that the U.S. dollar is weak, the traders are waiting for the outcome of political debates about budgets and U.S. debt. On the other hand, the […]
The dollar dropped against the yen and against the euro after US economic data showed the ISM non-manufacturing PMI index fell to 54.4 in September, from 58.6. The decline was more than the forecast of 57.4 and prior 58.6. Also, the employment component of ISM fell to 52.7 from 57, the lowest since May. The […]
Overview: Since our last analysis, Gold has been trading sideways, around the price of 1,302,38 on high volume, we are still likely to see it testing the weekly FE level of 161.8% (Weekly third target) at the price of 1,151.00. I saw demand bar on volume just above the average, according to the daily chart. […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downward movements, the price tested the level of 1.6273 on high volume. We are still waiting for more downward movements. We may expect the testing of Fibonacci RE 61.8% at the price of 1.5915. In the daily chart, we can observe supply bar on […]
The Light Sweet Crude accumulated three weeks consecutive fall in weekly chart due to the fact that investors were relieved after tensions over Syria and Iran diminished and improved oil supplies from Libya, these data pressured the low to oil, but found support in the area of 101.01; now, the weekly candle suggests we could […]
The euro remains above the key $1.36 level on Thursday, close to an eight-month high after being boosted by stronger than expected Euro zone retail sales data. The seasonally adjusted volume of retail trade increased by 0.7 per cent in August, significantly higher than the 0.2 per cent boost forecast by analysts and up from […]
EURUSD: In spite of all odds, EURUSD has been able to continue its bullish move. It is now trading above the support level of 1.3600. Generally, more fundamental figures are expected today, and they would cause further volatility in the markets. Going above the aforementioned support level, the price could end up reaching the resistance […]
Overview: Resistance: 1.3625 Support: 1.3517 EUR/USD: According to the previous events, the price has still been trapped between 1.3520 and 1.3570. Selling zone is between 1.3570 (resistance 1) and 1.3620 (resistance 2). It is of the wisdom to swing trade at this area since sellers are asking for a High price in order to […]
