AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has been trading downwards, just like we expected, impulsive wave 1 (coloured blue) of the bigger wave (C) (coloured green) has been developing. During the Wednesday’s Asian and European session we could observe descending movement from 1.0380 towards the 1.0322 level. Therefore, during the New […]
GBP/USD Elliott Wave For the past few weeks the GBP/USD pair is trading upwards, in Elliott perspective this move represent corrective wave 2 (coloured blue) of the bigger wave (C) (coloured red). Yesterday, during the Asian and European session we could observe strong ascending movement from 1.5527 towards the 1.5590 level. Therefore, during the early New York […]
The rising wedge continuation pattern achieved its full projection target around 1.5490. This week, there’s slowdown in bullish acceleration witnessed at supply zone and located between 1.5500-1.5550 which corresponds to 50% Fibonacci Level and the upper limit of the depicted bullish channel. Hence, it’s expected to have some bearish retracement. Although the bullish steam seems […]
Overview: The GBP/JPY is to range trade with risks skewed lower as markets await 11:45 GMT European Central Bank’s interest rate announcement. The GBP/JPY is undermined by increased investor risk aversion; Japan exporter sales. But the EUR/JPY losses are tempered by the Bank of Japan’s aggressive easing measures to help reach its 2% inflation target; […]
Germany manufacturing activity remains in contraction territory in April as indicated by the purchasing manager’s index (PMI) compiled by Market/BME. The index showed a reading of 48.1, down from 49.0 in March, the latest reading indicated a moderate worsening of overall business conditions, and the rate of deterioration was the most marked since December 2012. […]
Read the Daily Market Report from Dave Evans, Professional Trader All Eyes On the ECB Morning Report: 08.00 London • This morning, financial markets have a negative bias after the S&P 500 sold off into the close last night. This morning, the negative tone has continued, […]
TODAY’s TECHNICAL LEVEL : Breakout BUY Level: 1.3245. Strong Resistance: 1.3237. Original Resistance: 1.3224. Inner Sell Area: 1.3211. Target Inner Area: 1.3180. Inner Buy Area: 1.3149. Original Support: 1.3136. Strong Support: 1.3123. Breakout SELL Level: 1.3115. DESCRIPTION : Today the EUR/USD has support and resistance at 1.3136 and 1.3224. The rate is accompanied by […]
Weekly pivot point: 1.5308. GBP/USD: Resistance:1.5611 (sell below this level). Support: 1.5517 (buy above this level for retesting this level for a short period). Trading recommendations: (intraday) According to the previous events, the price is still between the levels of 1.5520 and 1.5580. The descending movement will probably be lower than the 1.5615 level […]
RECOMMENDATION : SELL Stop (Pending Order) @ 127.99. Stop Loss @ 128.09. Take Profit @ 127.85. Alternative : BUY Stop (Pending Order) @ 128.51. Stop Loss @ 128.41. Take Profit @ 128.65. Best regards, Arief Makmur Official Analyst of InstaForex Companies Group InstaForex Companies Group http://instaforex.com Email : [email protected] Yahoo Messenger & Skype : […]
TODAY’s TECHNICAL LEVEL : Resistance. 3 : 97.82. Resistance. 2 : 97.63. Resistance. 1 : 97.44. Support. 1 : 97.21. Support. 2 : 97.02. Support. 3 : 96.82. DESCRIPTION : Please pay attention to the levels of support 3 (96.82) and resistance 3 (97.82). Normally, when a level is touched, the USD/JPY […]
Today’s support and resistance levels: S1: 127.85 R1: 128.42 S2: 127.60 R2: 128.82 S3: 127.19 R3: 129.45 Technical overview: The wave 4 triangle is still unfolding. We are currently in wave d of the triangle, which we […]
Overview As shown in the H4 chart for today, the metal’s support level 23.90 has been broken yesterday and according to that the metal took a slightly downward and currently is stabilizing above the support level 23.00 which needs to be broken to continue its downward trend, the breakout of this support level gives a […]
The euro managed to reach our first goal of the third level weekly resistance 1.3225, a level that we expected last Monday. As of today until Friday, there are some news that will have a strong impact on the euro. Thus, we should be cautious when trading this pair since it tends to react in the […]
Today’s support and resistance levels: S1: 1.5484 R1: 1.5537 S2: 1.5462 R2: 1.5561 S3: 1.5444 R3: 1.5601 Technical overview: We have finally seen a clear break above the decending channel, which confirms our long-term bullish view. In […]
The Asian session was relatively subdued as investors are waiting for the European Central Bank policy meeting later today. Most major currency pairs are consolidating after some volatility yesterday as a result of the Federal Reserve policy meeting. The dollar steadied in Asia after turning soft overnight following the FOMC decision of maintaining its stimulus […]
The British pound sterling has consolidated its position in the area of 1.5580/1.5560. This pair is in the area of great resistance, and the technical indicator is positioning for a drop of the pair as well, which has its first support at 1.5460 and 1.5280 (daily fractal). The breakdown of the latter could press to 1.50 […]
Overview: The price is probably going to form a strong support at 0.9210 (below 38.2% of Fibonacci retracement levels in the H1 chart. It formed the last bearish wave for the last three weeks and the level of 0.9210 acts as strong support. The saturation is likely to take place around 0.9210 because this […]
Overview The H4 chart for today demonstrates that the pair is stabilizing below the resistance level at 151.70 and moving above the downward trend line as shown, which almost cancels yesterday’s bullish scenario. Then the pair must meet a strong support level at 150.50 which needs to be broken to continue the bearish movement, and […]
EUR/USD: As it was forecasted, this pair has continued to move upwards, while the indicators confirm the current bias. The price line at 1.3200 has already been tested and violated, so the price should not find it difficult to go towards the resistance line at 1.3300. There is thus a Bullish Confirmation pattern in the […]
Overview: The GBP/JPY is to consolidate in higher range as markets await the U.S. FOMC interest rate decision. The GBP/JPY supported by positive investor risk appetite; thr Bank of Japan’s aggressive easing measures to help reach its 2% inflation target; demand from Japan importers. But the EUR/JPY gains are tempered by Japan exporter sales. Daily […]
Overview: USD/CHF is to consolidate with bearish bias after hitting seven-day low of 0.9276 Tuesday as markets await U.S. FOMC interest rate decision. USD/CHF has been undermined by negative USD sentiment and CHF demand on soft EUR/CHF cross. The daily chart is negative-biased as stochastics are falling from overbought; MACD is staging bearish crossover against […]
“Guessing or going by gut instinct won’t work over the long run. If you don’t have a defined trading methodology, then you don’t have a way to know what constitutes a buy or sell signal. Moreover, you can’t even consistently correctly identify the trend.” -Jeffrey Kennedy Jeffrey Kennedy is an accomplished teacher and a Senior […]
The following are highlights of the statement from the Federal Reserve’s Federal Open Market Committee issued on Wednesday following a two-day meeting on interest rate policy: “Information received since the Federal Open Market Committee met in March suggests that economic activity has been expanding at a moderate pace. Labor market conditions have shown signs of […]
The dollar shot up against the yen after the Federal Reserve said it will maintain monetary stimulus and made few changes in its outlook despite a recent spate of poor economic reports for March. In the FOMC statement after the Fed policy meeting, it said it was prepared to “increase or reduce the pace of […]
The rising wedge continuation pattern achieved its full projection target around 1.5490. This week, there’s a supply zone located between 1.5500-1.5550 which corresponds to 50% Fibonacci Level and the upper limit of the depicted bullish channel. Hence, it is the zone of strong resistance which will probably pause the ongoing bullish movement for some bearish […]
Overview: NZD/USD to consolidate the bullish bias after hitting two-week high of 0.8585 Tuesday as markets await the U.S. FOMC interest rate decision. The NZD/USD underpinned by positive investor risk appetite; negative USD sentiment; the NZD/USD yield gap. But the NZD/USD gains tempered by weaker commodity prices. Daily chart positive-biased as MACD & stochastics is […]
Overview: The USD/JPY to consolidate with bearish bias after hitting two-week low of 96.99 Tuesday as markets await the U.S. Federal Open Market Committee interest rate decision at 18:00 GMT. The Fed is expected to maintain its $85 billion monthly bond-buying program, but market participants are watching closely for hints about how worried policy makers […]
On the daily chart, the EUR/USD pair is expressing a continuation of the Flag pattern after the bullish impulse was initiated at 1.2750 on April 4th. A breakthrough above 1.3100 took place Yesterday which confirmed the continuation pattern. The final projection target will be located at 1.3400. However, an important supply zone is located at […]
NZD/USD: Resistance: 0.8600 (sell below this level). Support: 0.8500 (buy above this level for retesting this level for a short period). Trend: upward (the trend still calls for a bullish market). Range: 120 pips (weekly). […]
Overview: The EURUSD’s resistance had been broken and it was turned to support around the price of 1.3156 yesterday. Therefore, the pair has already formed a strong support at 1.3156. Moreover, after it could close below 1.3150 and the pair started signing for bullish market, it should also be noted that the price has still […]
