A bullish breakout above 1.6250 took place on November 27. The GBP/USD pair successfully achieved its projection target around 1.6600. This price level is acting as a daily resistance for the pair until now. Last bullish movement exceeded 1.6600 rendering 1.6666 as the highest price in January. However, bearish engulfing daily candlestick was immediately expressed […]
Technical outlook and chart setups: 1. Silver has produced a morning star at our expected levels of $19.00, as seen here. It is recommended to hold long positions. For now. the risk remains at $18.50. 2. Immediate support is at $18.75, followed by $18.00, while resistance is at $20.50 (intermediary), followed by sub $21.00 and […]
Technical outlook and chart setups: 1. The yellow metal has reversed from ahead of $1,229.00/30.00 support. This could still be a retracement and hence recommendations are to hold short positions. Risk remains at $1,285.00. 2. Immediate resistance remains at $1,279.00 (intermediary), followed by $1,294.00, while supports are spread through $1,238.00/37.00 (intermediary), followed by $1,230.00/20.00 and […]
In Asia, Japan will release the Monetary Base y/y, and the 10-y Bond Auction. Meanwhile, the US will disclose some economic data such as US-Factory Orders m/m, US-IBD/TIPP Economic Optimism. So there is a big probability the USD/JPY will move with low volatility during this day. Today’s technical levels: Resistance. 3: 101.81. Resistance. 2: 101.62. […]
Technical outlook and chart setups: 1. The GBP/CHF has finally reversed sharply after testing back side of the support turned resistance line as seen here. It is still recommended to remain short, with risk at 1.5120/30. 2. Immediate resistance is at 1.4930, followed by 1.5120/30, while supports are spread through 1.4550/60, 1.4370/80, 1.4200 and 1.4000 […]
European markets have opened lower today, tracking negative cues from an overnight selloff on the Wall Street after an eight month low in US factory activity heightened fears of a slowing US economy. Closer home, investors await data that might reveal that the UK construction PMI slowed to a reading of 61.5 in January from […]
The gold price closed positively on Monday having found support from the previous two days’ low of $1,237.7 and resistance at Thursday’s high of $1,267. After a closely-watched US factory barometer dipped in January posting a 7-month low. Purchasing managers index fell to a record low of 51.3, while analysts expected it to be 56.4. […]
DJIA As mentioned in my previous reviews, the Dow Jones seems to be an expandable pattern. The new year started on a negative note for equities. It was its first negative start since 2008. Close below 15,500 makes more weakness in the coming trading days. DAX German DAX seems to be in huge sideways pattern […]
Yesterday, the US dollar was trading in line with our expectations. It failed to break the resistance level of 81.32 in the hourly chart. After making three attempts the US dollar lost momentum. Meanwhile, oscillators were not in the bull favor as well. So securing profit is recommended. It holds the support of 81.0. This […]
Daily chart: The USDX has temporarily found resistance at the level of 81.33. However, the USDX remains above the 200-day moving average. Thus, the USDX is likely to have bullish momentum and climb to the resistance level of 81.50. Furthermore, any consolidation below the 200 SMA could be a change in the trend in the […]
Daily chart: The GBP/USD has strongly consolidated below the level of 1.6447, and now it is trying to make a breakout in the support level of 1.6326. Near current levels, it has formed a bullish trend line, so this pair is likely to find support there. However, if it makes a breakout in the trend […]
Trading recommendations: The NZD/USD pair is in the short term. It should be noted that the market will turn to bearish sentiment from the level of 0.8140. Therefore, it will a good sign to sell below 0.8140 with the first target of 0.8061 to form double bottom. It will call for downtrend in order to […]
Overview: According to previous events, the resistance of the GBP/USD pair has been already set at the level of 1.6370. Furthermore, the weekly support 1 sets at the level of 1.6370). But it should be noted that support has been broken and turned to resistance. Equally important, the weekly support 3 has been set at […]
Dear Valued Partner, Our new range of banners promoting $20 free for the Contest Arena will effectively double your click-through-rates. Our performance tests have shown incredible success in all key demographics. As always, our banners are available in a variety of sizes and in the full range of language options. Just log in to […]
EURJPY: Follows Through Lower, Tests. 618 Fib Ret EURJPY- With EURJPY following through lower on the back of its past week losses and testing its .618 Feb Ret (its 131.21 -145.61 rally) located at the 136.54 level, the risk is for price extension to occur. Support comes in at the 136.00 level with a cut […]
February 3, 2014 – Indices News Asian markets are down today on worse than expected Chinese non manufacturing PMI data and anxiety over a possible global slowdown. Keep in mind, Chinese and many other markets are still closed due to the lunar new year. Thus, most of the movement happened in the Nikkei, which shed […]
The GBP/USD had a stellar second half of 2013, as stronger than forecast UK recovery helped propel the pound to new highs. As the US dollar continues to respond positively to stimulus cuts and positive data, however, many analysts are wondering if the pound’s bullishness may be waning. Ahead of the North American session, a […]
As the USD/CAD enters February, investors are asking, how high will the pair go? The USD/CAD has been one of the most bullish trades in recent months. Several factors have weighed on the Canadian dollar, including domestic uncertainty, weak exports and a stronger US currency. Ahead of the North American session, the USD/CAD pared nearly […]
The EUR/USD pair suffered significant losses last week, paring more than 1.4% after Eurozone data disappointed investors. The pair will have the opportunity to rebound this week amid several economic data releases and a monetary policy announcement courtesy of the European Central Bank. Ahead of the North American session, the EUR/USD was trading at 1.3497, […]
February 3, 2014 – Stock Market News Today’s Hot Asset – General Motors Stocks in the U.S. are currently trading lower. Investors within the region are showing there caution, as they await some key economic data due to be released later in the session. Once the data is released it should spark a reaction from […]
GBP/USD had been trapped inside a wide-ranged price zone extending between 1.5900 and 1.6250 until November 27 when a bullish breakout took place. Since then, the bulls have been defending 1.6250 as a prominent support. Another successful bullish retesting took place in the mid-December that pushed the pair again to the upside. Based on this […]
A breakout above the previous resistance level of 1.3450 allowed the bulls to push within the bullish channel to hit higher levels around 1.3650, and then 1.3750. Later on, obvious bearish rejection was expressed at 1.3850 (failing to reach 100% Fibonacci Expansion at 1.3904). Instead, a breakdown of the lower limit of the depicted bullish […]
A bullish breakout above 1.6250 took place on November 27. The GBP/USD pair successfully achieved its projection target around 1.6600. This price level is acting as a daily resistance for the pair until now. Last bullish movement exceeded 1.6600 rendering 1.6666 as the highest price in January. However, bearish engulfing daily candlestick was immediately expressed […]
Overview: USD/JPY is expected to trade in a lower range. It is undermined by the flows to the safe-haven JPY and unwinding of JPY-funded carry trades amid increased risk aversion (VIX fear gauge rose 6.48% to 18.41, S&P fell 0.65% Friday) as concerns over emerging markets still persist, exacerbated by signs of slowdown in China. […]
Overview: USD/CHF is expected to trade in a higher range. It is supported by the positive dollar sentiment and the franc sales on soft CHF/JPY cross. But USD/CHF gains are tempered by the flows to the safe-haven Swiss franc as concerns over emerging markets still persist and the franc demand on soft EUR/CHF cross. Daily […]
Overview: GBP/JPY is expected to trade in a lower range.It is undermined by the weak euro sentiment, increased investor risk aversion and Japan’s export sales. But GBP/JPY losses are tempered by the demand from the Japanese importers. Daily chart is negative-biased as MACD is bearish; stochastics stays suppressed at oversold zone, five and 15-day moving […]
Overview: NZD/USD is expected to consolidate with bearish bias after hitting its near-five-month low of 0.8061 on Friday. Such dynamics is undermined by the contagion from turmoil in the emerging markets, the kiwi sales on the soft NZD/JPY cross amid increased investor risk aversion, positive dollar sentiment and the kiwi sales on buoyant AUD/NZD cross. […]
The euro was briefly lifted above the key 1.3500 level following Eurozone PMI data today. The final figure for January came in at 54.0 versus a previous estimate of 53.9. Surprisingly better-than-expected readings from France and Germany acted as a catalyst of the move up to a session high of 1.3518, from a 2-month low […]
The week ahead is expected to be very busy, as many events will take place that are expected to have a significant impact on the foreign exchange market. By the end of the week, more will be known on the outlook for monetary policy in the Eurozone and the UK, on the outlook for manufacturing […]
Overview As it was expected last week, the metal would reverse its bearish move to start its upward direction and open its way towards the level of 19.50 in case of closing 4H above the Support level of 19.00. Today and as shown in the today’s H4 chart, the metal has already taken a bullish […]
