The euro is testing the resistance level of 1.31. In our previous reports we showed the reasons by which the euro in the short term would remains bullish. Given that, this week there will be very relevant data for the euro. We must take into consideration the weekly pivot levels. If the pair manages […]
The EUR/JPY pair is trading below the weekly pivot 128.50, below this level there is a downward pressure for the pair, it prevents the euro-yen price increase. In its turn, there is another resistance which is also significantly stronger, the first weekly resistance which is located at 129.86. To overcome this level, the upward trend […]
The Australian dollar is finding support above 1.0278 weekly pivot but cannot overcome the 1.0340 area. If the pair closes the day above this level it is likely the next targets in the second weekly resistance are at 1.0394 and 1.0450 (W_R3). The short-term outlook is bullish for this pair, so if there is a […]
Read the Daily Market Report from Dave Evans, Professional Trader Gold recovery back on trackMorning Report: 08.30 London • Last night, the S&P 500 closed at a record high, while Asian markets hit their highest levels since the 2008 crisis. This mornings trading is a […]
The spot rate is currently testing the intermediate resistance of its medium-term bearish channel at 128.60 suggesting a decline. However, a break of this level will allow it to reach the upper limit of its channel at 129.50. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption […]
Gold approaches the upper limit of its medium-term bearish channel at 1,478 suggesting a decline. However, a break of this level will initiate a violent bullish channel. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have greatly tightened […]
Today’s Support and Resistance levels: S1: 1.5273 R1: 1.5333 S2: 1.5255 R2: 1.5356 S3: 1.5236 R3: 1.5395 Technical overview: It is still an open question whether wave c of ii finished at 1.5236 and is heading higher […]
The spot rate approaches the upper limit of its medium-term bearish channel at 1.3120 suggesting a decline. However, a break of this level will initiate a violent bullish channel. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have […]
The spot rate approaches the upper limit of its medium-term bullish channel at 1.5550 suggesting a decline. However, a break of this level will initiate a more violent bullish channel. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands […]
The dollar remains weak on Tuesday as investors are cautious while the Federal Reserve begins its two-day policy meeting today. There are growing expectations that the FOMC will continue with its quantitative easing bond purchases as a result of weakening US economic indicators recently. The Fed is currently buying $85 billion of bonds each month […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 98.52. Resistance 2: 98.33. Resistance 1: 98.14. Support 1: 97.90. Support 2: 97.71. Support 3: 97.51. DESCRIPTION: Please pay attention to the levels of support 3 (97.51) and resistance 3 (98.52). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, […]
RECOMMENDATION: BUY Stop (Pending Order) at 1.5501. Stop Loss at 1.5491. Take Profit at 1.5515. Alternatives: SELL Stop (Pending Order) at 1.5474. Stop Loss at 1.5484. Take Profit at 1.5460. Best regards, Arief Makmur Official Analyst of InstaForex Companies Group InstaForex Companies Group http://instaforex.com Email: [email protected] Yahoo Messenger and Skype: Arief.ifx_jakarta blog.mt5.com/arief http://www.mt5.com/forex_analysis_award/profile/index/arief […]
EUR/USD: This pair – which ranged largely last week – has begun some upward movement this week (with some limitation). The limitation can only be overridden when the price breaks the resistance level at 1.3100 to the upside, closes above it, and trends further northwards. The ultimate target for this week is around the resistance […]
RECOMMENDATION: Sell stop (pending order) at 127.99. Stop loss at 128.09. Take profit at 127.85. Alternatives: Buy stop (pending order) at 128.51. Stop loss at 128.41. Take profit at 128.65. Best regards, Arief Makmur Official Analyst of InstaForex Group InstaForex Group http://instaforex.com Email: [email protected] Yahoo Messenger & Skype: Arief.ifx_jakarta blog.mt5.com/arief http://www.mt5.com/forex_analysis_award/profile/index/arief Disclaimer: Trading […]
Today’s support and resistance levels: S1: 127.99 R1: 128.61 S2: 127.56 R2: 129.02 S3: 127.05 R3: 129.45 Technical overview: Our preferred count is that a wave iv triangle is building and setting the stage for one last […]
Euro held onto gains in the US session as optimism after Italy formed a new government flowed across the Atlantic over to North American trading. The news that Italian Prime Minister formed a coalition government ended political uncertainty that resulted after inconclusive elections two months ago. EURUSD hit as high as $1.3115, regaining from last […]
Overview Proceeding from the today’s H4 chart, the pair took a downward trend last week but it closed 4H above the Support level 151.70 which is tested right now. Currently the pair is trading between the Support level 151.70 and the Resistance level 153.20 and the upward trend line as well. If the pair bounces […]
Overview The H4 chart demonstrates today that silver is still trading between the Support level 23.90 and the Resistance level 25.00 after it has failed to break the Support level last week and closed 4H above. Given that silver manages to close 4H below it, it provides a good opportunity to sell till reaching the […]
Overview: GBP/JPY is trading in higher range. The rate is undermined by JPY demand on soft USD/JPY; buy-yen orders from Japan exporters. But GBP/JPY losses tempered by improved euro sentiment; sell-yen orders from Japan importers; Bank of Japan’s aggressive easing measures to help reach its 2% inflation target. Daily chart is negative-biased as stochastics […]
Overview: USD/CHF is trading in lower range. CHF sentiment was boosted by higher-than-expected Switzerland April KOF economic barometer (came in at 1.02 vs. 0.98 forecast). USD/CHF is also undermined by weaker USD sentiment; CHF demand on soft EUR/CHF cross. Daily chart is mixed as MACD is bullish, 5- and 15-day moving averages are rising; but […]
Overview: NZD/USD is trading in higher range. The rate is undermined by soft commodity prices. But NZD/USD losses tempered by weaker USD sentiment; NZD-USD yield gap. Daily chart is mixed as MACD is bearish but stochastics is rising from oversold; inside-day-range pattern was completed on Friday. Trading recommendations: The pair is trading above its pivot […]
Overview: USD/JPY is trading in lower range. Liquidity was thin in Asia as financial markets in Japan and China were shut for holiday. USD/JPY undermined by negative USD sentiment after U.S. 1Q GDP grew at lower-than-expected 2.5% annual rate (vs. +3.2% forecast), heightening expectations that Federal Reserve will continue pushing forward its quantitative easing program […]
Euro rallied against the dollar after being buoyed by relief that Italy has finally formed a government, ending two months of political uncertainty following an inconclusive February election. Italy’s Prime Minister Enrico Letta put together a coalition government comprising of the two major political parties of the centre left and centre right. The news also […]
On 27 April 2013, the forex seminar and workshop series hosted by XEMarkets and presented by Forex Guru Chief Technical Strategist Avramis Despotis in many different countries of the world, chose Budapest as its newest destination. The six-hour-long English presentation of renowned Certified Instructor and Portfolio Manager Avramis Despotis, attracted participants’ undivided attention due to […]
Technical outlook and chart setups: Silver is consolidating gains after breaking out of its trading range above 24.00 level last week. Further upside targets remain at 25.00 and 26.00 levels at least. It is recommended to remain long for now and also buy on dips. The 26.00/50 region is convergence of Fibonacci 0.618 resistance and […]
Gold prices have rebounded from Friday’s sharp dip, climbing steadily in Monday trading to recover most losses. A weak dollar is helping spur buying and buoying the precious metal. The two assets usually have an inverse price relationship. If gold is priced in USD, a weaker dollar makes it cheaper for holders of other currencies […]
Technical outlook and chart setups: Gold has been trading sideways, probably in wave 4, after hitting first measured target at 1,450.00 level last week. It is recommended to hold remaining long positions for now and also plan to buy on dips towards 1,500/10 levels. This region is past support turned resistance and further downswing is […]
As it was suggested last week, price level 1.5230 stood as an Intraday Support level. It provided a BUY entry yesterday which is running in profit now, the next near target is located at the upper limit of the movement channel around 1.5560. Stabilization above 1.5370 cancelled the bearish reversal scenario, leading towards 1.5430 (the […]
Price zone 1.0200 – 1.0235, which corresponded to a downtrend line, has been broken through obviously last week. There is a continuation of flag pattern confirmed with daily closure above 1.0210 to have final target at 1.0400. However, it is important to note that signs of lack of bullish steam existed last week which was […]
Technical outlook and chart setups: As seen on the 4H chart setup here, the single currency pair has been trading within the range 125.00-130.00 in a decreasing resistance increasing support fashion. After a huge rally from sub 90.00 level to 130.00 level, the pair should retrace before rallying further, but that cannot be confirmed before […]
