Dollar pairs fall back as New Year beckons Morning Report: 07.15 London • This morning, the dollar pairs are falling back as traders pull back on the risk throttle. The AUD/USD is the biggest faller, down 0.20%. • Commodities are also feeling the pinch with Silver and Gold giving up most of last week’s […]
General overview for 30/12/2013 09:10 CET The corrective cycle in wave (iv) is still in progress, but the overall shape of the correction starts to look more complex and time consuming. There is a clear confluence of technical levels at the zone between 144.20 – 144.34 and this zone should provide strong support for wave […]
General overview for 30/12/2013 08:50 CET The upside wave progression has developed as anticipated so far, but it has not been finished yet. There are two waves to the upside missing to complete the wave III. Currently, the price is in corrective cycle of smaller sub-wave (iv) and bounce is expected from the level of […]
Today’s Support and Resistance levels: R3: 1.7046 R2: 1.6996 R1: 1.6955 Current Spot: 1.6875 S1: 1.6856 S2: 1.6807 S3: 1.6748 Technical summary: The clear break above 1.6869 indicates that blue wave v of the expanded flat correction ended at 1.6807 and a new series of waves one’s and two’s is developing for the next powerful […]
Daily chart 8-hour chart Today’s Support and Resistance levels: R3: 146.96 R2: 145.69 R1: 145.19 Current Spot: 144.77 S1: 144.55 S2: 144.37 S3: 144.01 Technical summary: We saw an extended rally on Friday in a very thin Market with a high at 146.96, which could mark the top of wave v of 5. If […]
Risk appetite continued to remain positive at the start of the new trading week, helping the dollar maintain its uptrend against the safe haven yen, hitting a fresh five-year high. The Japanese currency is set to end the year as one of the worst performing currencies, as its weakness is mostly due to the Bank […]
The Euro Zone will release the Retail PMI and the Italian 10-y Bond Auction will take place. The US will release only one piece of news: the US-Pending Home Sales m/m as it is the last day before the New Year Eve. The volatility in the market can be unpredictable. TODAY’s TECHNICAL LEVELS: Breakout BUY level: […]
The price today can be unpredictable, because the market is not liquid, and the market data to be released cannot cause a significant movement today. In Japan, there is no data to be released and the US will only report US-Pending Home Sales m/m. TODAY’s TECHNICAL LEVELS: Resistance. 3 : 105.87. Resistance. 2 : 105.67. […]
Weekly technical levels: Trading recommendations: Resistance 1 and support 1 are considered to be clear indicators of the maximum range of extreme volatility today on December 30, 2013, though it is possible to pass them through, it should be noted that the weekly pivot point will set at the level of 1.6457 therefore the […]
Weekly technical levels: Trading recommendations: EUR/USD: Use historic prices to determine future prices; thus, according to previous events, the price has still been trapped between 100% of Fibonacci retracement levels at the level of 1.3892 and 00% of Fibonacci retracement at the 1.3624 level. Therefore, it will profitable to long buying above the price […]
EUR/USD: Last week, this pair shot upwards significantly and then pulled back. This pullback is supposed to be short-term: not going below the support line at 1.3700, for the Bullish Confirmation Pattern in the chart is still a valid thing. It is likely that the price would test the resistance line at 1.3900 this or […]
In Asia’s trading session gold is trading at the level of $1,210. Hourly chart indicates selling pressure. Traders are awaiting the US pending home sales data. We could expect a bit pull back to $1,215-$1,220 for selling chances. Support: $1,204, $1,200, $1,195. Resistance: $1,220, $1,227. Until gold close above $1,250, traders can go short on […]
Daily chart: The USDX had a profound fall below the support level of 80.11, but quickly the USDX made a bullish rebound that led it to get back into the range between 80.62 and 80.11 levels. However, the overall outlook for the USDX remains bearish, as this remains below the 200 SMA. If the USDX […]
Daily chart: The GBP/USD rose to the resistance level of 1.6540, where the pair found a strong bearish pressure. Now, this pair is forming a lower high pattern above the support at the level of 1.6447. If the pair manages to break that resistance level, it is expected to rise to the level of 1.6663. […]
European markets have opened marginally higher today, consolidating their two weeks of strong gains. However, trading volumes remained thin ahead of the upcoming New Year’s holiday. Meanwhile, at a debt auction today, Italy aims to raise about €5.5 billion through the sale of bonds maturing in 2018 and 2024. Related Posts:Can Q1 earnings season refuel […]
Dear Valued Partner, We have added new flash banners to the affiliate program in 18+ languages. More will be added soon. Use this to your advantage in order to attract clients from all over the globe to XM.COM. Kind regards, The XM Partner Team Related Posts:Weekly Forex Outlook: 29/03/2024 – Rate cut hopes rest on […]
Strong bullish sentiment was found at the support area around 1.4830, which pushed the pair to 1.5700, the level where two prominent tops were established, until the bulls initiated another bullish impulse towards 1.6200 where other two prominent tops were established. It is worthy of note, that the market initially expressed a bearish rejection around […]
General overview for 27/12/2013 16:00 CET The anticipated last impulsive wave to the upside has been almost done now and when the corrective cycle in wave (iv) is finished, then another high will be made in impulisve fashion. The target currently fot the wave (v) is the level of 145.77. This count is valid as […]
General overview for 27/12/2013 15:45 CET As anticipated yesterday, the level of SUPPLY zone has been broken and the market is rising in impulsive fashion, just shy of the 61% Fibo level at 1.0676. This level is line in sand for the bears and if it is broken, then surely the next level of resistance […]
Overview: USD/JPY is trading with bullish bias. The break above 104.45 is a positive signal that has opened a path to 105.15. Daily chart is positive-biased as MACD and stochastics are turned bullish; five- and 15-day moving averages are advancing. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in […]
The most prominent support zone was located around 1.0250. On September 19, the pair expressed a false breakdown reaching 1.0180 where an obvious bullish rejection was expressed to get the pair back above 1.0250 again resulting in a bullish Hammer weekly candlestick. As expected, the bullish momentum was expressed at retesting of the lower limit […]
Overview: USD/CHF is expected to trade in lower range. The RSI advocates for further downside and is well directed. Daily chart is mixed as MACD is bearish, but stochastics is bearish at overbought. Trading recommendation: The pair is trading below its pivot point. It is likely to trade in a lower range as far as it […]
On October 23, the GBP/USD pair broke initially the 1.6200 level hitting the area of 1.6250. However, most of the bullish gains were lost when the pair established a Double Top reversal pattern around 1.6200-1.6250. Failure to break down the 1.5900 level was observed weeks ago. Instead, a bullish rejection led to another bullish […]
Readings of the European Statistical Office disclosed three weeks ago, the European inflation was at 1.1% in September, in line with preliminary projections, while it settled at 1.3% in August. This constituted to the recent bullish jump that took place on October 22. Around 1.3800, previous daily candlesticks represented indecision initiating a bearish retracement towards […]
Overview: GBP/JPY is trading in a higher range after hitting the high 173.9. The gains of the GBP/JPY pair are tempered by Japan exporter sales. The immediate trend remains up and the momentum is strong. Daily chart is positive-biased as MACD and Stochastic are bullish, stochastics is reverting to bullish due to oversold. Trading recommendations: The […]
Overview: NZD/USD is trading with bullish bias. A support base at 0.8145 was formed and it allows tthe pair for a temporary stabilisation. . Daily chart is positive-biased as MACD and Stochastic are bullish, stochastics is reverting to bullish due to oversold. Trading recommendations: The pair is trading above its pivot point. It is likely to trade […]
Daily chart. The Centre for Economics and Business Research (CEBR), a London-based economic consultancy, said that China will not overtake the US economy until 2028. According to the CEBR report, China is on its way to become the world’s largest economy in a much slower than previously expected pace. This is due to the relative slowdown […]
The euro stood out as the best performer during a lively European session on Friday, rising to new 2-year highs above $1.38. Thin volumes due to the holidays allowed for exaggerated moves. There were various headlines out of Europe which acted as a catalyst to the move higher in the euro today. There was data […]
Overview: Since our last analysis,Gold has been trading upwards, as we expected, the price tested the level of 1,215.53 (FE 100 %) on ultra high volume (buying climax). According to the 1H chart, Gold is in bullish corrective phase, so we placed Fibonacci expansion to find the levels for potential end of the bullish corrective […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, like we expected, the price tested the level of 1.6934 (met FE 161.8 %) on high volume. As you can see from the chart, we got selling climax (large volume) at price 1.6675 and after that we saw volume leveling off, which causes […]
