В General overview for 10/01/2014 09:35 CET The corrective cycle in wave (ii) green is still in progress; however, the first clues of a possible end of this cycle are visible and a an intraday downtrend might show up soon. Currently, in intraday time frame there are two possible counts for the corrective cycle and the […]
В General overview for 10/01/2014 CET The Very Strong Confluence Zone lower boundary at the level of 1.0871 has been hit, but higher prices has been rejected so far. This would mean, the top for the whole impulsive wave progression to the upside might be in place, because the rejection from the level of 1.0871 to […]
Commodities rise ahead of Payrolls. Morning Report: 08.15 London • Markets are generally subdued this morning ahead of US Non Farm Payrolls at 13.30. The dollar index is on the back foot, helping dollar pairs to rise and commodities to find some buyers. • Silver is up 0.92%, with gold up 0.52%. […]
Gold started the New Year on a firmer footing after bouncing off 6-month lows (1182.16) hit on December 31. Looking at the daily chart, gold has spent the last 10 days consolidating and hovering around the 23.6% retracement Fibonacci level of the move down from the October 28 high (1361.60) to the December 31 low […]
Today’s Support and Resistance levels: R3: 1.6621 R2: 1.6575 – Important resistance. Low of red wave i. R1: 1.6546 Current Spot: 1.6516 S1: 1.6483 S2: 1.6435 S3: 1.6397 Technical summary: The expanded flat scenario has worked well and as long as support at 1.6483 protects the downside we could see red wave c extend a […]
EUR/USD: В On this pair, the outlook that was seen yesterday remains unchanged. In the market, the current surge (upturn) in the price simply means that it is rising in the context of a downtrend. The downtrend is still a valid thing, and the price is not expected to go above the resistance line of 1.3650. […]
Today’s Support and Resistance levels: R3: 143.52 R2: 143.17 R1: 143.03 Current Spot: 142.83 S1: 142.56 S2: 142.26 S3: 142.04 Technical summary: We still think we are in the very early parts of the powerful wave iii lower towards at least 136.43. That said, we need to see the downside challenged soon, otherwise the risk […]
USD/CAD Elliott WaveВ The USD/CAD pair has been steadily trading upward for the last few days, extended iii wave (coloured blue)В of the bigger (a) wave (coloured red) has been developing.In the 1-hour chart above you can see thatВ yesterday price movementsВ makesВ us to think that wave .v (coloured blue) has completed the bigger wave iiiВ in the Ending […]
AUD/USD Elliott WaveВ The AUD/USD pair has been trading in a choppy downward move from the 0.9000 level, while this high holdsВ we are favoring to see more selling pressure in the final wave (v) (coloured red) that is currentlyВ developing. In the 1-hour chart above, you can see that pressure from 0.8952 is to high and […]
The US dollar regained its bullish momentum against the yen as markets look ahead to the nonfarm payrolls report due later in the trading day. The dollar had a volatile day on Thursday as focus switched from the European Central Bank and Bank of England policy announcements, and then US jobless claims data. As expected, […]
Daily chart: The USDX found dynamic resistance in the 200 SMA, which could mean a change in the trend of the USDX, because the 200 SMA is a fairly strong level. However, the USDX is forming a bullish pattern, so we must be alert to any signs to place buy orders. On the other hand, […]
Daily chart: The GBP/USD is being prepared for the volatility that comes in a few hours, when will be published some important economic indicators in the United States, as this pair has been making very slow movements in the past hours. It should be noted that the GBP/USD is forming a bullish pattern, so it […]
When the European market opens, some economic news will be released such asВ French Industrial Production m/m, Final GDP q/q. The US will release the most important economic data such as theВ US-Non-Farm Employment Change, and the US-Unemployment Rate, so amid the reports, EUR/USD will В move with medium to high volatility during this day. TODAY’s В TECHNICAL В LEVELS:В […]
In Asia, Japan will release theВ Leading IndicatorsВ and the US will release the most important economic data such as US-Non-Farm Employment Change, and the US-Unemployment Rate. So there is a big probability the USD/JPY will move with low volatility during the AsianВ session, but with high volatility during the US session.В TODAY’s В TECHNICAL В LEVELS: Resistance. 3 : […]
Gold is trading in a tight range holding its support at the level of $1,220. On the upper side it facing selling pressure from the level of $1250. Until it breaks either side, we can’t see further move. We could recommend selling on rallies. In the daily charts the momentum indicators show a mixed bag, […]
Daily chart After having reached a minimum of 91.24 during the session on Thursday, crude oil was very close to the end near the minimum of eight months. However, not having found sufficient support, the price was quoted over 92.00 dollars a barrel. Having closed in this way, the CL has left a long wick […]
European markets have opened higher today, as investors anticipated that the upcoming US nonfarm payrolls data would confirm strength of the US economic recovery. Closer home, investors awaited the release of UK industrial output which is forecasted to grow 0.4% MoM in November, the same rate as seen in October. Related Posts:Market Comment – Stocks […]
Daily chart As we mentioned in our analysis on Thursday, В the USD/CHF has fallen below the 5/8 line (green line), so the picture becomes bearish in the short term. As we know the line 5/8 comes to be the top line of its trading range, now it comes to be a resistance to take into […]
Technical outlook and chart setups: 1. Silver is preparing to initiate a rally from the current levels of $19.50/60. As seen here, the metal is testing the backside of the broken resistance line. It is recommended to remain long from positions initiated yesterday. 2. Immediate resistance is at $20.50, while support is at $18.70/80, followed […]
Technical outlook and chart setups: 1. Prices have remained seemingly unchanged since yesterday. After breaking the immediate support line, the EUR/JPY has consolidated for a while now. Aggressive trade setup would be to initiate long positions now at 142.70/80. Risk remains at 141.50. 2. Immediate resistance is at 145.50, while supports are spread through 141.50 […]
Technical outlook and chart setups: 1. As seen here, GBP/CHF has taken out resistance at 1.5000 levels recently. Yesterday’s fall can be termed as corrective yet. It is recommended to remain flat for a while and allow the correction to complete. 2. Immediate temporary resistance is at 1.5020, while supports are spread through 1.4800 followed […]
В The NZD/USD pair “Kiwi Dollar”:В Resistance: 0.8340 (sell below this level).В Support: 0.8173 (buy above this level for retesting this level for a short period). Expect a new range around 80 pips on January 10, 2013. Trading Recommendations: According to the previous events, the price is still between the levels of 0.8295 and 0.8175.В […]
В Overview:В According to the previous events, the price of the USD/CHF pair has still been movin between the levels of 0.9115 and 0.9003. In the same away, the range of the pair was around 60 pips today. Volatility was only 54,56; therefore, the market indicates lower volatility, so we expect medium volatility on January […]
Technical outlook and chart setups: 1. Gold is stalling between $1,224.00-$1,230.00 for now. It is still recommended to remain flat at current levels. 2. Intermediary resistance is at $1,250.00, followed by $1,267.00/70.00, while supports are spread through $1,207.00 (the fibonacci 0.618 support level), followed by $1,200.00 and $1,182.00 respectively. 3. The structure reveals that a […]
Daily Chart After the last bounce this morning, USD/CHF appears to be forming the figure. Closing the day above 0.9094, it is confirmed that we would be faced correction of 5 consecutive days to the upside. This possible correction could find its support on the neutral line of 4/8 (blue line) after that it would […]
Overview As 4H chart shows, closing below the resistance level of 172.75 gives the price an opportunity for a slightly bearish move again. As it is shown here, currently, the price is trying to continue its bearish move by breaking the support level of 171.50 and closing 4H below. In that case, we may […]
The U.S. Dollar Index has broken above 81 and this is the first good bullish sign. Short-term resistance is found at 81.30 and at 81.50 as shown in the 4 hour chart below. Breaking above these levels will be bullish for the intermediate-term trend and it gives us 82.5 as the first target. If the […]
Overview: The USD/JPY is in range-trade underpinned by positive dollar sentiment (ICE spot dollar index last 81.07 versus 80.86 early Wednesday) after ADP reported that U.S. private-sector jobs rose more-than-expected 238,000 in December (versus +200,000 forecast), its strongest increase in 13 months. The USD/JPY was also supported by higher U.S. Treasury yields; demand from Japan […]
Prices have fallen towards $1,225 as we expected from our last analysis. This decline could very well be wave B of the corrective pattern we are currently in. So now we should expect an upward bounce as wave C towards $1,275. Short term resistance is found at $1,245 and then at $1,275. Short term support […]
OverviewВ As shown in the today’s H4 chart, the metal failed again to break the Support level 19.50 and is still trading between the Support level and below the Resistance level 19.75. Currently, it is bouncing from the Support level and starting for the bullish move. So we still suggest waiting for closing above the […]
