Today, the EUR/JPY price is moving in the ranging condition but between the 103.75 to the 131.50 level but in a Bullish sentiment, We can look at all the three moving averages still making a “Golden Cross” pattern, but please pay attention to the 130.50 level, if this level can be breach by this pair, […]
EURUSD: This pair shows what happens in a weak market in a vivid manner. One support line has been broken after the other; and there is no end in sight. Occasional rallies in the price would mean opportunities to go short. The price may easily test the support line at 1.3150, and eventually go downwards […]
Today’s Support and Resistance levels: R3: 1.7071 R2: 1.6995 R1: 1.6933 (Important short-term resistance) Current Spot: 1.6863 S1: 1.6829 S2: 1.6801 (Recent low) S3: 1.6762 Technical summary: The wave path, we expected yesterday, took on a slightly different path as blue wave iii of red wave v (see the 15 minute chart below) extended […]
Most major G10 currency pairs remained in very tight ranges during the Asian session on Wednesday. The only currency showing visible movement was the Australian dollar which rose after data. The yen also showed further weakness. Holding patterns formed as investors are cautious and stayed on the sidelines ahead of key risk events and […]
TODAY’s TECHNICAL LEVELS: Resistance. 3: 100.08. Resistance. 2: 99.88. Resistance. 1: 99.69. Support. 1: 99.45. Support. 2: 99.26. Support. 3: 99.06. DESCRIPTION: Please, pay attention to the levels of support 3 (99.06) and resistance 3 (100.08). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but […]
TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3239. Strong Resistance: 1.3231. Original Resistance: 1.3218. Inner Sell Area: 1.3205. Target Inner Area: 1.3174. Inner Buy Area: 1.3143. Original Support: 1.3130. Strong Support: 1.3117. Breakout SELL Level: 1.3109. DESCRIPTION: Today, EUR/USD has support and resistance at 1.3130 and 1.3218. The rate is accompanied by strong support at 1.3117 […]
Technical outlook and chart setups: The metal is in line with Gold movements and a corrective wave 3 should be underway today. It is recommended to remain short with risk above the 25.00 levels for now; which are resistance. The initial downside extensions are pointing towards the 21.80 levels at least. Intermediate support is at […]
Technical outlook and chart setups: Gold is preparing for a pullback now. After rallying to 1,410/15 overnight, the metal can be near resistance at the moment, and wave 3 within the overall correction can be under way any moment now. It is, therefore, recommended to remain short for now. Initial targets are pointing towards the […]
Technical outlook and chart setups: 4H chart shows that prices have been out of the cone consolidation for a while now, and may be looking to retrace, before inching towards 133.00 and higher levels. It is recommended to remain long and also look to buy at intraday/interday dips from here on. Resistance levels are 132.50 […]
Technical outlook and chart setups: The currency pair rose towards the 1.46 levels as it had been discussed and expected earlier. It is strongly recommended to remain long and add positions on dips. Bulls now clearly want to challenge the 1.48 levels and later 1.5. Both areas were proven to be strong resistance earlier. Support […]
Daily chart: The USDX hit resistance at the 82.51 level but did not break it. However, the USDX may form a lower high pattern, and thus it will be harder to break this resistance, which is very strong. If the USDX makes a bearish rebound at the current levels, it will be expected to drop […]
Daily chart: GBPUSD has made very slight movements, but it continues to consolidate its bullish trend at the moment. However, remember that this may be just a corrective move to form a higher low pattern, which after that will continue falling. However, this could be a bullish rebound, and eventually, this pair could rise to […]
The main economic news during the U.S. session on Tuesday was ISM manufacturing which beat expectations and rose in August, causing the U.S. dollar to rise across the board. The ICE dollar index which tracks the USD against six major currencies, surged to an intraday high of 82.50 after the ISM data. The ISM index rose […]
Strong bullish sentiment was expected to be found at the support zone around 1.4830, which pushed the pair to the upside reaching 50% Fibonacci level around 1.5275, 1.5400 corresponding to 61.8% Fibonacci level, then 78% Fibonacci around 1.5533. Some bearish rebound took place off 1.5400 towards 1.5100, where an ascending bottom was established on August […]
The USD/CAD pair rose steeply approaching the key resistance level of the ascending channel around 1.0530 as depicted in the chart. This happened when the pair established a consolidation range between 1.0450-1.0560 that expressed a false bullish breakout above 1.0555, which was followed by intensive bearish pressure that led to the breakdown of 1.0450 and […]
Strong bullish pressure was seen during retesting 50% Fibonacci, resulting in bullish engulfing candlestick extending further above 1.5400 (61.8% Fibonacci). This opened the way directly to 78% Fibonacci around 1.5550 which constituted temporary intraday resistance that held the price below for 5 days before bullish breakout took place on August 15. The cable established […]
The EUR/USD pair has been finding solid Supply around 1.3400. The previous weekly candlestick had a small bullish body representing failure of the bulls to close above the high of the precceeding weekly candlestick at 1.3380, which applied bearish pressure again on the pair during last week, despite the bullish closure of the precceeding weekly candlesticks. Last week, […]
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Overview As shown from the today’s H4 chart, the metal failed again to break the Support level 23.90 and is still trading between the Support level and below the Resistance level 24.40. Currently it is bouncing from the Support level and starting for the bullish move. So we still suggest waiting for closing above […]
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 153.90 after it has been tested yesterday. Today the pair took an upward movement and managed to break the strong resistance area 154.50 then 155.00, […]
Overview: (short-term) AUD/USD: According to the previous events, the price has still been trapped between 0.9020 and 0.9060. Therefore, the first step is to wait for the period of tight sideways market before breakouts. Then, probably, the market is going to start showing bearish signs. In other words, it will be a good sign […]
Overview: USD/CHF: The price is set below strong resistance at the level of 0.9450 (0.9450: 50% of Fibonacci retracement levels in H4 chart). It should be noted that the price has still been trapped between 0.9365 and 0.9400. Moreover, it is worth noting that these levels are coinciding between 23.6% and 50% of Fibonacci retracement […]
General outlook for 03/09/2013 10:30 CET The price was unable to spike higher in last wave alt:v to the upside, so we observe this corrective movement downwards. Looks like price can not move above the golden trendline resistance and WR1 so far, so the upside might be limited. Price has broken intraday support level and […]
Overview: Since our last analysis the EUR/NZD pair has been trading in the downward movement, the price tested the level of 1.6807 on high volume and tested FE 100 % as we expected. We are still waiting for the upward movement and testing the level of 1.7360. I placed Fibonacci Expansion levels to find the […]
General overview for 03/09/2013 11:30 CET Intraday supply area in grey rectangle has pushed the price down but not strong enough for the price to break out of the upward golden channel. As long as the price stays in this channel, higher prices are possible. It seems that the key intraday level for more downside […]
Overview: Since our last analysis Gold has been trading sideways around the price of 1,392.00. We still may expect testing the level of 1,440.00 before any large descending movement. 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 no supply […]
The euro is trading lower against the dollar today, reaching a 1-1/2 low as investors are cautious to take on more euros ahead of a key risk event later in the week. The European Central Bank holds its policy setting meeting on Thursday and there is speculation it may keep interest rates low. EURUSD fell […]
The Dollar Index continue its upward move and now testing the resistance at 82.50. Prices are moving as expected after the small sideways correction at the 82 area. Once prices broke above 82.10, it was a matter of time to test 82.50. Prices have reached 82.42 and are getting dangerously close to the upward sloping […]
Gold prices have found very strong resistance to break at 1,395, as it was expected, and now turning lower towards the recent low at 1,372. Yesterday, we bought at 1,380 and sold again at 1,393 with a target at 1,370-75. Prices trade below the trendline resistance and our heading towards the 38% Fibonacci retracement. We […]
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