AUD/USD Elliott WaveВ The AUD/USD pair reached our invalidation point in the late New York session onВ Friday, we are looking at this pair at the moment as we are still developing correctiveВ wave (iv) (coloured red). In the 1-hour chart we can see clear five waves move from theВ 0.8864 level and we can consider this move […]
EUR/USD: В Gradually the bulls’ determination on this pair has resulted in a Bullish Confirmation Pattern. Eventually the price would be trading above the resistance line at 1.3700. It was trading above it a few weeks ago, so the possibility of it going above that line again should not be any challenge. USD/CHF: В Gradually the bears’ […]
The yen gave back some gains made recently against the dollar after Japan’s disappointing current account data dented sentiment on the Japanese currency today. This gave a chance for the dollar to recoup losses made after a huge tumble following disappointing US nonfarm payrolls data on Friday. The weaker jobs number caused a sell-off in […]
Gold is holding the ground and moving to higher levels. The starting of the year 2014 makes some glimpses on gold. Strong lower level buying shows green ticks in the chart. To start a new bull run, prices will need to consolidate 6 months before it makes a new cycle. Gold has successfully crossed this […]
Daily chart: The USDX continues forming a bearish pattern (higher low) below the resistance level of 80.62. It is very likely that these movements continue throughout the week as the USDX has had a fairly quiet week start, considering the extreme volatility that occurred last week. However, if the USDX manages to break the 80.62 […]
Daily chart: The GBP/USD had a profound fall below the resistance level of 1.6447. Now, it is very likely that this pair fall to the support level of 1.6326. If the pair manages to break that level, would be expected to fall to the level of 1.6235. Now, the GBP/USD is forming a higher low […]
US markets saw steep correction ahead of earnings season and last week’s weak job report. The Dow Jones ticked down 1%. It is the biggest decline in nearly 3 months. We recommended a short note in our previous couple of reports. Traders fell even if the economy is not going well, tapering will happen. Dow […]
When the European market opens, some economic news will be released such asВ German WPI m/m, French CPI m/m, Industrial Production m/m.The US will release economic data such as the US-Retail Sales m/m, US-Business Inventories m/m, so amid the reports, EUR/USD will move with moderate volatility during this day. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3737. […]
Technical outlook and chart setups: 1. Gold rallied through the $1,255.00 levels yesterday and a push today could see $1,267.00/70.00 before pullback. It is recommended to remain flat for now and look to enter on a dip. 2. Immediate resistance is at $1,267.00, while supports are spread through $1,220.00, followed by $1,210.00 (the fibonacci 0.618 […]
A breakthrough above 1.6240-1.6300 took place at the end of November. Another consolidation range was established between 1.6240-1.6450. The last bullish impulse was initiated towards 1.6570-1.6600 in an attempt of bulls to record new highs in 2013. Bearish pressure was applied near the level of 1.6600 (the upper limit of the expanding wedge) resulting in […]
Overview: USD/JPY is expected to trade in a lower range. The liquidity was thin in Asia today as financial markets in Japan were shut for holiday. USD/JPY is undermined by the negative dollar sentiment (ICE USD Index last 80.64 versus 80.93 early Friday) on smaller than expected 74,000 increase in U.S. December non-farm payrolls (well […]
Overview In H4 chart, the price closed below the support level of 170.50 which gave a new opportunity for more bearish signals today. As shown, the price has already broken the Support area and now is approaching the support level of 169.00. Closing below this level again may give us more sell signals till the […]
Overview: GBP/JPY is trading in a lower range. GBP/JPY is undermined by the weak USD/JPY undertone and sell-euro orders from the Japan exporters. But EUR/JPY downside is limited by the buy-euro orders from Japan importers. Daily chart is negative-biased as MACD is bearish,but stochastics stays suppressed near oversold zone. Trading recommendation: The pair is trading […]
In Asia, Japan will release the Current Account, Bank Lending y/y, Economy Watchers SentimentВ and the US will release some economic data such as US-Retail Sales m/m, US-Business Inventories m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the […]
Daily chartВ The USD/CHF declined the first day of this week a little more than 20 pips from its point of initiation closing below the level of 50.00 of Fibonacci. The closing price was very close to the 3/8 line (green line), but apparently the bears had no more strength to carry the lowest price. […]
Technical outlook and chart setups: 1. EUR/JPY stopped us out at 141.00 yesterday; nonetheless, the setup still favors counter trend rally towards 143.50/75 at least. Aggressive trade setup would still be to initiate long positions with risk at 140.00, while conservative approach would remain flat for now. 2. Immediate resistance is at 143.00, followed by […]
Technical outlook and chart setups: 1. The 4H chart depicts that a short term support trend line has been broken. Our long positions have been stopped out at 1.4800, still recommendations are to go long, with risk at 1.4550. 2. Immediate resistance is at 1.5020, while supports are at 1.4700/30 (intermediary), followed by 1.4550 and […]
В Chart tools of the NZD/USD pair: It should be noted that the market was so stable and the trend was also so clear (upward). Expect a range of 112 pips as uptrend from the level of 0.8275. A strong support level will be formed at the price of 0.8275 this week.В В В The value of […]
Overview:В В The USD/CHF pair will set below the strong resistance at the level of 0.9066. Equally important, the price is still trapped between 0.9033 and 0.8977 as well as it has still been below 38.2% of Fibonacci retracement levels in H1 chart of the last week. As a result the price has already formed a […]
Bullish movement above 1.3450 within the depicted bullish channel allowed the pair to reach further supply levels around 1.3650 and 1.3750, respectively. This was taking place until obvious bearish rejection was expressed at 1.3850 (failing to reach 100% Fibonacci Expansion at 1.3904). Few days later, the bulls managed to break down the lower limit of […]
European markets have opened lower today, tracking losses in the US and Asian markets as investors mulled over weak US corporate updates and widening of Japan’s trade deficit. Closer home, investors await the release of UK consumer prices, producer prices, retail prices and house prices data, due later in the day. Related Posts:Can Q1 earnings […]
Overview: USD/CHF is expected to trade in a lower range. USD/CHF is undermined by the negative dollar sentiment, and the franc demand in the soft EUR/CHF cross. But CHF sentiment is dented by the rise in Switzerland unemployment rate to 3.5% in December from 3.2% in November,and lower-than-expected Switzerland December annual CPI of +0.1% (versus […]
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The pound and the euro were the biggest losers of the European session as the dollar managed to reduce the pace of its decline after the weak employment report on Friday. The yen continued to make sharp gains against currencies that did particularly well against it during the previous year. In this way, the euro […]
Overview: NZD/USD is expected to trade in higher range. It is supported by the negative dollar sentiment and rebounding commodity prices. But the NZD/USD gains are tempered by Kiwi sales in buoyant AUD/NZD cross and concerns over weak economic outlook for China. Daily chart is positive-biased as MACD is bullish, and stochastics is reverted to […]
Gold is boosted higher of the back of disappointing NFP numbers as investors return to the safe haven. According to figures the US economy added only 74,000 jobs in December. These were the weakest NFP numbers for 2 years. Despite this unemployment continued to fall. Related Posts:Weekly forecast based on simplified wave analysis of… April 8, […]
Morrisons (MRW.L) continues to recover after last weeks steep drop on the back of news that like-for-like sales are down over christmas. Investors continue to show an interest in the supermarket chain after rumours it plans to sell part of its shop portfolio. Analyst Clive Black at Shore Capital says “We expect Morrison to announce […]
Following the weaker-than-expected employment report the previous Friday, the main focus of the week ahead will be what fresh data imply about the strength of the US economy. Specifically, a key number that will be watched is the advance December retail sales for the United States. This report should yield crucial clues as to how […]
Overview According to our last week expections, the price’s close below the Resistance level of 20.20 would give new opportunities for sell signals. As shown in the attached H4 chart, the metal has failed to break the Resistance level of 20.20 and bounced from it, currently metal is trying to break the Support level of […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested and rejected from the our upper station level В at 1.6573 on very high volume. As you can see on the 1H chart, supply entered the market on the very high volume at 1.6570, so the price tested […]
