Technical outlook and chart setups: The currency pair is holding resistance at 142.00 levels for now. It is recommended to initiate short positions between 141.60/70 levels with a risk at 142.50/60 from here on. As depicted here in the 4H chart view, supports are spread through 138.50 levels, followed by 137.00 and 134.00 respectively. The […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading downwards, corrective wave c (coloured red) of the bigger wave (X) (coloured blue) has been developing. Yesterday, during the Asian and European session we could observe descending movement from 1.0615 towards 1.0583. Therefore, during the New York session this commodity pair did not manage to hold […]
Today’s Support and Resistance levels: R3: 1.6798 R2: 1.6735 R1: 1.6689 Current Spot: 1.6655 S1: 1.6626 S2: 1.6581 S2: 1.6522 Technical summary: We did see a break above resistance at 1.6750, which confirms the uptrend. However, the following correction is deeper that would be expected. That could imply two things, that a series of waves […]
Today’s Support and Resistance levels: R3: 143.22 R2: 142.78 R1: 142.34 Current Spot: 141.81 S1: 141.33 S2: 140.95 S3: 140.40 Technical summary: Support at 140.99 did more or less protect the downside as we expected. We did see a slight dip below 140.99, but it was not sustained and we are now in the final […]
AUD/USD Elliott Wave Since our last analyses, the AUD/USD pair has been trading downwards, that’s why we moved to our alternate wave count that shows more bearish movements in the b wave (coloured red). During the Wednesday’s Asian and European sessions, we could observe descending movement from 0.9151 towards the 0.9086 level. Therefore, during the New York session this major […]
Technical outlook and chart setups: The currency pair is testing the outer support line in the daily chart view depicted here at 1.4490/1.4500 levels. It is still recommended to initiate long positions with a risk at 1.4400 from here on. The resistance is fixed at 1.4900 levels; while supports are spread through 1.4350, followed by […]
General overview for 12/12/2013 08:40 CET The impulsive bullish count has been invalidated due to wave 1 and 4 overlapse, so this is the indication that top is in place. Currently, impulsive wave progression to the downside has not been finished yet as there is one more wave (5) purple missing. When corrective cycle wave […]
Markets shaky after stock market tumble Morning Report: 07.15 London • The Santa Claus rally took an early hit yesterday as the S&P 500 suffered its biggest one day fall of the winter. Markets are down once again this morning, with many potential catalysts. However the prospect of a US budget deal does seem to point […]
General overview for 12/12/2013 08:30 CET The corrective structure is getting more complex and time consuming and the current price action is a typical range play with clear levels to be broken. Moreover, some indication of Head&Shoulders technical pattern might be seen with neckline at grey rectangle area of 140.85-141.00. Break out below this areameans […]
EURUSD is now testing the resistance level of 1.3800, while USDCHF is testing the support level of 0.8850. With the continuation of the bullish pressure on EURUSD, the aforementioned resistance level would eventually be breached to the upside, as the price closes above it and goes towards the next resistance level of 1.3850. Generally, there […]
Daily chart During Wednesday’s session, Crude Oil gave back all the gains made during the previous day standing back its daily support and very close to its bottom line of the pivot trading range, which puts us back to the dilemma: on the one hand, it will continue to rise if it is kept above […]
The yen failed to get a boost from Asian stocks’ drop to 2 ½ – month lows, as traders continued to sell the Japanese currency despite rising risk aversion. The euro gained 0.17% versus the yen to trade at 141.46, whereas the dollar also rose against the Japanese currency, climbing 0.23% to 102.66. The euro […]
Short betting was increased in yellow metal couple of times and longs slipped. Gold lost almost 25% year to date from its 2011 peaks. Speculations increases as the Fed date comes closer. Expectations of Fed tampering of its purchasing program makes gold move southward. Dip buying and the weakness in USD makes gold fly higher. […]
When the European market opens, they will release some news like French CPI m/m, Industrial Production m/m, Federal Budget Balance , ECB Monthly Bulletin, and the ECB President Draghi Speaks and when the US session opens, there some news like Retail Sales m/m; Unemployment Claims; Import Prices m/m; Business Inventories m/m; Natural Gas Storage; 30-y Bond Auction will […]
During the Asian session, it seems USD/JPY will move with low volatility, but when the US market session starts, this pair will move with low to moderate volatility as Japan will not release any news, but the US will issue some news such as Retail Sales m/m; Unemployment Claims; Import Prices m/m; Business Inventories m/m; […]
Daily chart USDCHF continued testing new lows for its third straight day, but if we go buying above 0.8850 and place our stop loss 30 pips below this point, surely our stop loss will remain there, as the minimum reached during the previous session was 0.8839. So our buy signal at these levels still remains […]
European markets have opened lower today, mirroring losses on Wall Street and in Asian markets, as the possibility of a wind-down of US Federal Reserve stimulus intensified after US lawmakers reached a provisional budget deal. Market also reacted to news that the White House is considering nominating less dovish former Bank of Israel Governor Stanley […]
Daily chart: This pair found resistance at the 1.6447 level, and now it is very likely that this fall will extend to the support level of 1.6326. If the pair manages to break that level, it would be expected to fall to the level of 1.6235. On the other hand, remember that this could be […]
NZD/USD: Resistance: 0.8373 (sell below this level). Support: 0.8190 (buy above this level for retesting this level in the short term). A double bottom will be set at the level of 0.8183. Trend: upward (the trend still calls for the bullish market). Range: 80 pips (weekly). Trading recommendations: According to the previous events, the […]
Daily chart: The USDX is consolidating below resistance at the 80.11 level, so it is very likely to start forming a bearish pattern to continue the medium term fall to the level of 79.19. However, still we do not see fractals below this level, indicating that the USDX will continue to fall for a few […]
The price zone of 1.3400-1.3460 represented a valuable supply zone that kept the price below for months. However, a significant bullish support was present around 1.3100 leading to a bullish breakout pattern. According to the readings of the European Statistical Office disclosed three weeks ago, the European inflation was at 1.1% in September, in line […]
Strong bullish sentiment was found at the support area around 1.4830, which pushed the pair to hit 1.5700, where two prominent tops were established untill 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 1.6200 […]
Daily chart The crude oil market remained in the uptrend during the Tuesday’s session and now crude oil is above the pivot point and will likely continue rising as it closed the previous session on an upbeat note. Therefore, its next target should be placed at $100 since the line 4/8 (blue line) is the same as the major […]
Five months ago, a prominent bottom was established around 1.0260. This happened after the intensive bearish momentum that led to the monthly low at 1.0254. An important key level was located around 1.0505. This was the key level for the previous weeks movement as the re-closure below it enabled the pair to break down 1.0455 […]
Overview It was expected yesterday that the price would continue its bearish move in case of breaking the support level 168.60 and closing below it. Today and as shown on the H4 chart, the pair has already broken this support area and currently is trading below to continue its bearish trend.Therefore, we suggest more bearish […]
Overview: USD/JPY is to trade in lower range after hitting six-month high 103.40 Tuesday. Undermined by negative USD sentiment (ICE spot dollar index last 80.00 versus 80.15 early Tuesday) on lower U.S. Treasury yields as market participants grew comfortable with the idea that the Federal Reserve will soon begin to scale back its $85-billion-a-month bond-buying […]
Daily chart The USD/CHF yesterday continued making new lows trading below its bottom line of the trend channel; however, it is to find support on the line eighth (yellow line) the same as though it is considered a weak line support but since prices have been falling for more than 6 consecutive days, there is […]
Overview From the today’s H4 chart, silver is still stabilizing above the Support level 20.20 and could not break it and currently is bouncing from it towards the Resistance level 20.50. So we still suggest waiting for closing above the Resistance level in case of bouncing from the Support level 20.20 to give us […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested level of 1.6677 on volume above the average. We are still waiting for further bullish movement and the testing of 1.7000. Since our FR 38.2% has held, the level of 1.6480 is the possible end of the […]
Overview: Since our last analysis, Gold has been trading upwards, the price tested the level of 1,267.68 on high volume, we are still waiting for further downward movement. In the daily chart, we can observe demand bar on volume above the average. We are still likely to see it testing the weekly FE level of […]
