Today’s Support and Resistance levels: R3: 145.62 R2: 145.13 R1: 144.73 Current Spot: 144.49 S1: 144.24 S2: 143.61 S3: 143.29 Technical summary: Trying to pick the top has proven to be a hard nut to crack. However, the upside should be limited from here. We will likely not see more than 144.73 tested, but to […]
The Dollar index has been rejected at the important resistance we mentioned in our previous analysis at 80.70-81 range. Prices needed to break above that price level for the intermediate-term trend to be challenged. However, bulls were not strong enough to push prices higher. The Dollar index has pulled back inside the downward sloping long […]
Stocks stall while dollar sinks Morning Report: 07.15 London • In this small window between Christmas and New Year, markets are showing some movement. While stock markets are unchanged, the dollar index is falling heavily. • The dollar pairs are capitalising, with commodities are seeing the biggest movements. Silver continues to recover well, while […]
GBPJPY spiked above 172.00 on Friday after breaking above key resistance level at 171.00 on Thursday. The pair is quickly approaching 173.00 and the strong bullish momentum may potentially extend the surge towards 174.00 given that the pair is in a long-term up-trend, namely since June 2012. This is when the pair began the uptrend […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading upwards, impulsive wave i (coloured blue) of the bigger wave (c) (coloured red) has been developing. In the hourly chart above, we can observe that the upward move from 1.0580 (Monday’s low) towards 1.0650 was diagonal structure and we can consider this move as the […]
AUD/USD Elliott Wave Since our last analysis, the AUD/USD pair has been trading upwards, just like we expected, corrective wave c (coloured blue) of the bigger wave (a) (coloured red) has been developing. After a few days in a downward move from 0.8957, this major currency pair found support at 0.8875 yesterday during the late Asian session, and from there, […]
EUR/USD: This pair has rejected the recent bearish pull on it. The price broke upwards, cutting through the market line of 1.3750, while going further upwards. Clearly, the bias has turned bullish and short trades no longer make much sense now. The EMA 11 has crossed the EMA 56 to the upside, while the Williams’ […]
Asian equity markets rallied on Friday following a strong performance by US markets overnight. Upbeat data on initial jobless claims on Thursday suggested that the overall US recovery seems to be on track, underpinning the Fed’s decision last week to begin tapering its bond purchase program. The number of Americans filing for unemployment benefits fell […]
Santa rally continues on the stock market after the US jobless claims fell more than forecast. Jobless claims turned down by 42k, the number stood at 338,000, forecast numbers had been 346,000. The data shows extremely strong. Gold made high at $1,215.5 yesterday. The yellow metal came back to the level of $1,200 and surprisingly […]
Daily chart: The USDX has found strong resistance at the level of 80.62 and is now likely to last until the fall in the support level of 80.11. If the USDX manages to break that level, it would be expected to fall to the level of 79.19. Keep in mind that this could be the […]
Daily chart: The GBP/USD had a bullish start in the post-christmas session. Now, the pair attempt to break the resistance level of 1.6447. If successful, it is expected to rise to the level of 1.6540. On the other hand, we must consider that the current bullish trend could be temporary, as this pair has remained […]
EUR/USD today seems to move with low volatility during the European market session, because there is no data to be released today; but during the US session, it will move with low to medium volatility, because the US-Natural Gas Storage; and the US-Crude Oil Inventories are due to release. TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3784. […]
Today Japan will release Manufacturing PMI; Household Spending y/y; Tokyo Core CPI y/y; National Core CPI y/y; Unemployment Rate; Prelim Industrial Production m/m; Retail Sales y/y; Average Cash Earnings y/y. The US will release the US-Natural Gas Storage; US-Crude Oil Inventories; so the USD/JPY seems to move with low to medium volatility. TODAY’s TECHNICAL LEVELS: […]
Crude is holding above the 21EMA level facing stiff resistance at the level of $100. Intraday downside support is at $99 mark. Last week, I gave a buy call for $103 target, now I am extending the targets. Trades above the level $100 mark, it could fly towards $102, $104 levels. Recommendation- Buy on dips […]
Overview: As expected, the USD/CHF pair could not break the major resistance 1 at the 0.8990 level, therefore the pair has rebounded on its resistance 1 and should to resume to 0.8910 in order to test the 50% Fibonacci retracement levels because the market will indicates a bearish opportunity at the level of 0.8905 […]
Overview: The NZD/USD pair has set a support at the level of 0.8103 and a resistance at the 0.8375 level on December 27, 2013. accordingly to previous events, the price has still been trapped between the value of 78.6% Fibonacci retracement levels (0.8375) and the value of 50% Fibonacci retracement levels at the 0.8103 […]
Daily chart The monthly crude oil production in the U.S. in the next year will exceed the volume of imports for the first time since February 1995, according to estimates released today by the Energy Information Agency. Meanwhile, the black gold is closer to the psychological level of $100 per barrel, after the opening of […]
European markets have opened higher today, taking cues from overnight gains on the Wall Street and a healthy performance by the Asian markets today. However, thin trading volume was witnessed in light of the post two-day Christmas break. Meanwhile, at a debt auction today, Italy aims to raise about €11 billion through the sale of […]
Daily chart The USD/CHF pair continues its uptrend after markets were motionless yesterday for the Christmas festivities in many parts of the world. At this time your nearest support is found in line 3/8 Murrey, when prices break it, it could lead to the 50.00 Fibonacci level. Moreover, also the blue line 4/8 Murrey trademark […]
General overview for 26/12/2013 15:40 CET The short lived range breakout has been fully retraced and price has got back into range zone again. Currently the outlook is still bullish according to main Elliott Wave count but please notice the growing clues for a possible top in place: the Head and Shoulders formation forming and […]
General overview for 26/12/2013 15:15 CET The upside gap has occurred when market had opened today with the pair going higher to 143.52 level in new 4-year high. The Elliott Wave labeling has been changed due to waves (i) and (ii) overlapse and new count is provided. The new labeling indicates a sooner than expecetd […]
Daily chart. After pausing for a day of Christmas festivities, markets began to move again. For Crude Oil continues to move higher above its daily pivot located at $ 99.00 a barrel and even comes retreating slightly since opening the CL we will continue to seek the resistance encountered at the point of the $ 100.00 […]
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 […]
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 […]
The Dollar index although has given us short term bullish signals, it still remains under the important resistance level of 81. Prices show low volatility as expected during the holiday season. Currently, the price pattern favors bulls, but prices still remain below important resistance levels. There is potential for prices to move higher as there […]
Gold is currently in an upward wave 4 bounce of the declining move that started at 1,269. We expect prices to continue lower towards 1,140-1,150. The current wave structure is shown in the chart below. Prices are trading within a downward sloping channel. The trend in all time frames remains downward. However, we should note […]
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 swing […]
The price zone of 1.3400-1.3460 represented a valuable supply zone that kept the price below for few months. However, a significant bullish support was present around 1.3100 leading to a bullish breakout pattern. Readings of the European Statistical Office disclosed three weeks ago, the European inflation was at 1.1% in September, in line with preliminary […]
Overview: Since our last analysis, Gold has been trading upwards, as we expected, the price tested the level of 1,205.00 on volume below the average. 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 phase. We got […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, like we expected, the price tested the level of 1.6773 on volume above the average. 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 was good sign for […]
