Overview As it was expected yesterday, we should wait for breaking the Resistance level 150.00 before making the decision to continue the bullish move. Today and as shown from the H4 chart, the pair failed to break this Resistance level and is still trading below it after its rebound to reverse its bullish move […]
The British Pound is consolidating at yesterday’s highs, after the BOE report on inflation, and back to the levels of rates of June 25, however, we believe this bullish momentum should stop at the 1.5585 fractal and very strong resistance area, so we recommend selling at this level because it is more likely to see […]
The Australian Dollar is showing recovery to dissipate the likelihood that the Reserve Bank of Australia continue cutting interest rates, as it did at the beginning of the week. The Aussie could even find the area of 0.92/0.93 for the next few days, reversing losses so strong in recent weeks, however at this moment, it […]
The euro-dollar pair is trading near previous levels of June 19, due to the German trade balance surplus that came out better-than-expected and boosted the euro very close to the level we were talking about 1.3388 Fractal. Some people believe that Europe is beginning to provide some signs of recovery, of course, coming from the […]
Overview: Since our last analysis, Gold has been trading sideways around the price of 1,289.00, we are waiting for a deeper downtrend. I placed Fibonacci expansion levels to find the potential end of the ascendant corrective phase. We are still likely to see testing of the weekly FE level 161.8% at the price of 1,151.00. […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downwards, the price has tested the level of 1.6661 on high volume. We are still waiting larger move and future uptrend. Since we have got our first short-term target at the level of 1.700 I have placed Fibonacci expansion to find next target level […]
Overview: GBPUSD: According to previous events, the price has still been trapped between 1.5500 and 1.5455. Buy above 1.5450 with the first target of 1.5503, it might resume to 1.5550. Stop loss should be set below 1.5420. Additionally, the weekly resistance 1 is set at the level of 1.5435. Therefore, the best location […]
Overview: USD/CHF: It should be noted that the price has still been trapped between 0.9200 and 0.9250 and the price has been set below strong resistance at the level of 0.9285 (23.8% of Fibonacci retracement levels in H4 chart). Moreover, it is worth noting that these levels are coinciding between 23.6% and […]
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EURUSD: The fundamentals have clearly had positive impact on EUR/USD – either directly or indirectly. The pair continues to trend upwards in a slow and steady manner, rejecting any bearish threats along the way. It is expected that the price would soon be trading above the market line of 1.3350. USDCHF: This pair is also […]
The Dollar Index mainly influenced by the sharp rise in EURUSD and the steep drop in USDJPY has broken 81.50-40 support and produced a new low at 81.09. This is not a good sign for the bullish expectation we have for USD and puts in danger our longer-term bullish scenario. Short-term trend is down and […]
Daily chart: The USDX is trying to consolidate below the 200-day moving average, after falling below the support level of 81.50. It’s likely that the USDX will fall to the next support at 80.62, but during this fall the USDX can form a higher low pattern. On the other hand, if the USDX manages to […]
Gold bounced upwards yesterday towards 1,296 after respecting thу support at 1,270. The 1,260-70 is very important support zone that is crucial for our bullish alternative wave scenario that we’ve been talking about for so long. We still prefer the bearish wave scenario as our primary choice and we still remain short with 1,320-30 stop. […]
Yesterday Bank of England Governor Mark Carney spoke. The press conference was regarded as the most important event of the day. However, no new ideas were expressed. Nevertheless, the Bank of England has increased economic outlook considerably. The Bank has stated the GDP growth for the next year as 1.4% vs. 1.2% in May’s forecast […]
On Wednesday, European data was positive and the euro chose the up direction. France’s Trade deficit was 4.4 billion euro vs. forecast for -5.0 billion euro. Industrial Production in Germany in June grew 2.4% vs. estimates for 0.3%. Unemployment Rate in Portugal dropped from 17.7% to 16.4%. It looks like positive macroeconomic from Europe news […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has been trading upwards, the impulsive wave .3 (coloured green) of the bigger wave C (coloured blue) has been developing. Yesterday, during the Asian and European sessions we could observe strong descending movement from 1.0378 towards 1.0445 level and we could consider this move as […]
AUDUSD Elliott Wave Since our last analysis the AUD/USD pair has been trading upwards, the corrective wave iv (coloured blue) of the bigger wave (5) (coloured green) has been developing. During the Wednesday’s Asian session we could observe descending movement from 0.9002 towards 0.8918 level and we could consider this move as the end of […]
General overview for 08/08/2013 09:00 CET: The five wave decline is almost completed and DEMAND area has been reached. The level of 127.97 is the most probable low for wave (i). Currently, the price may start some kind of corrective bounce from the mentioned levels. The first limitation for the corrective cycle comes at 129.22 […]
General overview for 08/08/2013 09:00 CET: Supply zone mentioned yesterday has been hit and the price so far reversed a little to test the technical support level of the previous high at 1.0400. This is very important level and might be tested several times before the price would eventually resume the upward move. The minimum […]
Today’s Support and Resistance levels: R3: 1.6946 R2: 1.6872 R1: 1.6796 Current Spot: 1.6760 S1: 1.6718 S2: 1.6656 S3: 1.6623 Technical summary: The break below the important support at 1.6771 yesterday invalidated my bullish count and told us, that the rally from the low of 1.6225 is only a B-wave in flat correction. […]
Today’s Support and Resistance levels: R3: 129.80 R2: 129.60 R1: 129.33 Current Spot: 129.04 S1: 128.65 S2: 128.24 S3: 127.62 Technical summary: We saw the expected decline to the minimum target at 128.54 yesterday. As wave i of blue wave iii and wave iii of blue wave iii is equal in length we […]
Daily chart: USDJPY fell deep below the support level of 97.59. Recently, it has touched the support level of 96.38. It is very likely that this pair will begin to form a higher low pattern to strengthen its bearish trend further. If the pair manages to break that level, it is expected to fall to […]
Yesterday the Australian dollar managed to place above the bullish fractal. The fact that this pair was able to return and rise above the daily fractal is a potential key to a recovery of the Aussie. Therefore it is recommended to continue buying above the level of 0.8905 and at this moment of writing […]
The EUR/USD pair remains above 1.33 but shows a low, upward velocity. The trend and momentum indicators are located within the area of potential downside, testing the resistance of the MACD. We would have to see a strong break of resistance in the short term at 1.3370, for a turnaround because the euro’s rise in […]
The British pound fell sharply to 1.5204 level and in a matter of two hours rebounded to the level of 1.5474. Due to the inflation report from the Bank of England, it is traded at this time, the highest since June 24. However, we see that the pair has momentum upward to above the […]
Strong bullish sentiment was expected to be found off the support zone around 1.4830 which pushed the pair to the upside reaching 50% Fibonacci level around 1.5275 then 1.5400 corresponding to 61.8% Fibonacci level. The bearish rebound took place beyond 1.5400 followed by confirmation of the double-bottom pattern with a projection target near 1.5100 where […]
The USD/CAD pair rose steeply approaching the key resistance level of the ascending channel around 1.0530 as depicted in the chart. Since then, the pair has established a consolidation range between 1.0450-1.0560 that expressed a false bullish breakout above 1.0555 which was followed by intensive bearish pressure that led to the breakdown of 1.0450 and 1.0380 with a record low […]
Bearish rebound was expressed off important key resistance at 1.5400 located in the chart corresponding to 61.8% Fibonacci Level extending up to 1.5440. This significant resistance managed to put bearish pressure leading towards quick retracement which already bypassed 1.5290, 50% Fibonacci, reaching daily demand level around 1.5200 (the previous uptrend line). Strong bullish pressure was […]
Consolidation above the previously broken uptrend line and SMA 100 has been going on after the pair established a consolidation range between 1.3200 and 1.3300. The weekly candlestick was a pin-bar representing hesitation, this came after 3 successive bullish weekly candlesticks after hiting 1.3300 which is considered an important resistance zone. Moreover, on Monday the […]
Overview: NZD/USD is consolidating after hitting a two-day high of 0.7917 Tuesday. The pair is supported by receding fears about New Zealand’s dairy export as whole milk powder prices fell moderate 1.6% on the GlobalDairyTrade internet-based auction for Aug. 6; Kiwi demand is on soft AUD/NZD cross. But Kiwi sentiment is dented by higher-than-expected NZ […]
