General overview for 27/01/2014 07:50 CET The last five waves to the downside has been finally made and the complex and time consuming correction in wave 4 purple has been finished at the level of 139.11. Currently the market is bouncing up from this level and it is about to break out higher above the […]
Overview In the H4 chart, the pair reversed its downward move taking an upward move due to the strong Support level of 167.75. Today as shown in the H4 chart, the pair bounced from the Support area breaking the Resistance level of 168.50, and currently it is approaching the Resistance level of 169.50 trying to […]
Technical outlook and chart setups: 1. The metal is retracing towards $19.00/50.00 levels before resuming its next bull run. Recommendations are to remain flat for now and look to go long again at sub $19.00 levels. 2. Immediate resistance is above the $21.00 level, while supports are at $19.40/50, followed by $19.00/10, $18.75 and lower […]
General overview for 27/01/2014 07:30 CET After making the top last week, the market is slowly developing a downside move with the target at the level of 1.1017. Break below the technical support level will expose the next weekly support at the level of 1.0942. From technical point of view there is one more shoulder […]
Overview In the today’s H4 chart, the metal is trading between the Support level of 19.75 and below the Resistance level of 20.00 after its failure to break the Resistance level of 20.20 last week and the bounced from it to take a slightly downward move and currently is re-testing the Support level of 19.75. […]
Technical outlook and chart setups: 1. The EUR/JPY drifts further low towards 140.00 region for now. It is indicating that the downfall could further extend to lower levels, but recommendations are to initiate short positions at 143.00/50 region. 2. Immediate resistance is at 143.00, followed by 145.50, while supports are spread through 139.20/30, followed by […]
Technical outlook and chart setups: 1. Finally, the GBP/CHF pair reverses from 1.5120/30, taking out the first measured support at 1.4700. It is recommended to hold on the short positions taken last week (Friday) for now. Furthermore, expect a rally towards 1.4900/50, before further downside. Risk on short positions for now is at 1.5150. 2. […]
The sell – off in emerging markets continued to dominate market sentiment as the new trading week got underway. Last week’s risk aversion flowed to today’s Asian session, helping the yen gain on safe haven demand. Meanwhile, the public holiday in Australia today resulted in thin trading volumes. Soft data from China is also keeping […]
Market sentiment was hit badly. There was a broad sell-off in financial markets. The equity market gave a sound rewards, traders willing to book profit and looking for safe place to park their money. In our couple of reports we alerted that 16,700 is the major resistance trend line, go short until the close above […]
When the European market opens, some economic news will be released such as German Ifo Business Climate, German Buba Monthly Report.The US will release the most important economic data such as the US-Flash Services PMI, US-New Home Sales, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’s TECHNICAL […]
In Asia, Japan will release the Monetary Policy Meeting Minutes, Trade Balance and the US will release some economic data such as US-Flash Services PMI, US-New Home Sales. 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 US session. TODAY’s TECHNICAL LEVELS: […]
Daily chart: The USDX is very strong in the current bearish trend, so it is very likely that during this week, the USDX will start forming a bearish pattern. If the USDX manages to break the support level of 80.11, it’s expected to fall to a level of 79.19 in the medium term. On the […]
Daily chart: The GBP/USD found strong resistance at the level of 1.6663 and now this pair is forming a bearish consolidation pattern below the level of 1.6540. However, we must stress that this pair has not yet formed a fractal, so it is very likely that the bullish trend to continue, as these movements could […]
Weekly technical levels Trading recommendations: According to the previous events, the price of the EUR/USD pair is still moving between the levels of 1.3740 and 1.3640. Moreover, it should be noted that the market was so stable and the trend was also too clear (upward), as well as the range was around 232 pips last […]
Weekly technical levels Descriptions for the trading signal systems. The range in the long term means return strategy that looks to go against strong divergence from the pair’s average value. It will usually hold trades for a prolonged period of time and is one of the slower moving trading strategies. There is another range uses […]
Weekly technical levels: Forecast for the short term: According to the previous events, the price of USD/CHF pair has still been trapping between 0.9000 and 0.8845. Buy above 0.8845 with the first target of 0.8903, it might resume to 0.9 if the trend will be able to break the double bottom at the level of […]
EUR/USD: This pair was able to shrug off further bearish threats on it, as it went into a positive correlation with the Cable. There is now a Bullish Confirmation Pattern in the chart, and the price would break the resistance line at 1.3700 this week, while going further towards the resistance line at 1.3750. USD/CHF: […]
Weekly technical levels: Idea about resistance and support: R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well on the sideways markets as prices are most likely to be located between the R1 and S1 lines. Within […]
EURUSD: With EUR reversing its previous week losses to return above its broken trendline, further recovery gains are likely in the new week. If this happens, the pair could force further strength towards the 1.3818 level, its Dec 30 2013 high where a violation will expose the 1.3750 level, its psycho level where a break […]
EURUSD: Reverses Losses, Set To Extend Gains EURUSD: With EUR reversing its previous week losses to return above its broken trendline, further recovery gains are likely in the new week. If this happens, the pair could force further strength towards the 1.3818 level, its Dec 30 2013 high where a violation will expose the 1.3750 […]
USDCHF: With the pair declining sharply to reverse its previous week gains the past week, it now looks to extend that weakness in the new week. While holding below the 0.8986 level, the above view remains valid. This development has paved the way for a run at the 0.8900 level, its psycho level. Further down, […]
The USD/CAD closed out the week in consolidation mode, easing off fresh multi-year highs. The pair soared to a high of 1.1138 in Europe before consolidating below the 1.11 line. Investors shrugged off consumer inflation data from Canada, which was weaker than forecast. Consumer inflation rose at an annual rate of 1.2% in December, according […]
AUDUSD: With the pair breaking the 0.8755 level, its Jan 20 2014 low to sell off further on Friday, more decline is expected in the days ahead. Support is seen at the 0.8650 level, its psycho level followed by the 0.8600 level. Further down, support comes in at the 0.8550 level and then the 0.8500 […]
The EUR/GBP rose for the second consecutive day, as euro traders took advantage of dovish remarks from Bank of England Governor Mark Carney. In a speech to the World Economic Forum in Davos, Carney acknowledged that the unemployment rate had fallen at a much faster pace than initially forecasted. However, the Monetary Policy Committee has […]
The GBP/USD had its three-day winning streak cut short after Bank of England Governor Mark Carney said the central bank has no intention to raise interest rates in the near future. The GBP/USD had traded at a weekly high of 1.6666 prior to the Governor’s speech in front of the World Economic Forum in Davos. […]
Overview: USD/JPY is expected to consolidate with bearish bias after hitting eight-day low 102.97 Thursday. It is undermined by flows to haven yen and unwinding of JPY-funded carry trades amid increased risk aversion (VIX fear gauge rose 7.24% to 13.77, S&P fell 0.89% overnight) amid emerging-markets turmoil as the Turkish lira, Russian ruble, South African […]
Overview: USD/CHF is expected to trade in lower range after hitting three-week low 0.8961 Thursday. It is undermined by negative dollar sentiment, franc demand on soft EUR/CHF cross and Swiss central bank that increasing the buffer banks will need to hold against property exposure from 1% to 2%. “The franc appreciated because the decision could […]
Despite the lack of data, there was volatility in the currency markets today. The euro and the pound did well in the first half of the European session before giving up gains against the dollar. The yen retained its strength mainly due to safe haven flows as risk sentiment was still down following a series […]
GBP/USD has been moving within a wide-ranged price zone extending between 1.5900 and 1.6250 until November 27 when a bullish breakout took place. Since this breakout, the bulls have been defending 1.6250 as a prominent support. Further successful retesting took place in mid-December that pushed the pair again to the upside. Based on the above-mentioned […]
(click to enlarge) Housing statistics are followed very closely by US economy-watchers. The state of the housing market is intertwined with the state of the US consumer, both with the wealth effect rising home prices generate and as employment and income prospects justify taking out a mortgage and buying a house. In addition, the housing […]
