Gold showed signs of strength yesterday but not enough to break above short-term resistance at $1,260. Price is moving mostly sideways around the critical support of $1,250. A new low below $1,250 will most probably bring more sellers and push Gold price towards $1,220-30. Red lines – trading range Gold price is moving sideways. Upper […]
Technical outlook and chart setups: The EUR/USD pair has finally pulled back sharply after printing fresh lows at 1.0985 levels yesterday. This could be the beginning of much awaited counter trend rally. The pair has pulled back since then and is trading at 1.1025 level now, after printing intraday highs at 1.1059 levels. Importantly, the […]
Technical outlook and chart setups: Gold remains unchanged from yesterday with prices stagnant between $1,255.00/60.00. It seems to have formed an interim higher low at $1,250.00/51.00 as expected after bouncing off from fibonacci 0.382 support at $1,240.00 level earlier. The metal is seen to be trading at $1,255.00 level for now, looking to accelerate higher […]
USD/JPY is under pressure. The pair remains under pressure below its key resistance at 104.45, which should limit the upside room. The downward momentum is further reinforced by the descending 50-period moving average, which should push the prices lower. Besides, the relative strength index is below its neutrality area at 50, and lacks upward momentum. […]
NZD/USD is expected to extend its upside movement. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index is above its neutrality level at 50 and lacks downward momentum. Additionally, 0.7050 is playing a key support role, which should limit […]
USD/CHF is under pressure. The technical picture of the pair is negative below a declining trend line, which emerged on Oct 13. The downward momentum is further reinforced by its declining 20-period and 50-period moving averages. The relative strength index is also capped by a bearish trend line. Although the U.S. Energy Information Administration reported […]
GBP/JPY is expected to trade with a bearish bias as the key resistance is at 127.80. The pair posted some rebounds yesterday, and is challenging its horizontal level at 127.80, which plays a key resistance, and should limit the upside attempts. Even though a continuation of the technical rebound cannot be ruled out, its extent […]
When the European market opens, some economic data will be released such as eurozone’s trade balance. The US will release macroeconomic statistics too such as Prelim UoM Inflation Expectations, Business Inventories m/m, Prelim UoM Consumer Sentiment, Core PPI m/m, Retail Sales m/m, PPI m/m, and Core Retail Sales m/m. So amid the reports, EUR/USD will […]
In Asia, Japan will release the PPI y/y and M2 Money Stock y/y. The US will also release some economic news such as Prelim UoM Inflation Expectations, Business Inventories m/m, Prelim UoM Consumer Sentiment, Core PPI m/m, Retail Sales m/m, PPI m/m, and Core Retail Sales m/m. So there is a probability the USD/JPY pair […]
Price dropped perfectly as expected yesterday. The key goal today is to sell on resistance at 115.08 (Fibonacci retracement, Fibonacci projection, horizontal overlap resistance) for a further push down to 114.12 once again. RSI(34) is below horizontal resistance at 57% Stochastics (21,5,3) is approaching a descending resistance line. Sell at 115.08. Stop loss at 115.80. […]
Price has dropped perfectly off our selling area as expected yesterday. We continue to sell on resistance at 103.90 (Fibonacci retracement, Fibonacci projection) for a further drop to 102.86. RSI (21) has made a bearish exit triggering a bearish move from here. Stochastics (34,5,3) is approaching pullback resistance. Sell below 103.90. Stop loss at 104.55. […]
Price has made a bearish channel exit triggering, so we look to sell below major resistance at 0.7126 (Fibonacci retracement, pullback resistance) for a push down to 0.6956. RSI (34) is below a long-term descending resistance line. Stochastics (21,5,3) is below major resistance at 90% too. The material has been provided by InstaForex Company – […]
Price reached our profit target perfectly once again from yesterday. We turn bearish below 0.7591 resistance (Fibonacci retracement, Fibonacci projection, descending resistance) for a drop towards 0.7511. RSI(34) is right below a major descending resistance line. Stochastics (34,5,3) is also below an 80% resistance line. Sell below 0.7591. Stop loss at 0.7632. Take profit at […]
Price dropped perfectly towards our profit target yesterday. Prepare to buy above major support at 1.0635 (Fibonacci retracement, Fibonacci projection, horizontal overlap support) for a push up to 1.0730. RSI (34) is above our ascending support line where we expect a bounce from soon. Stochastics (34,5,3) is above our 8% support where we expect a […]
EUR/USD: The EUR/USD pair plunged this week (by 190 pips) into the support line at 1.1000. That support line is actually a strong psychological level and bears would not expect to push the market below that line easily; hence the current upwards bounce. The upwards bounce would turn out to be a good opportunity to […]
USDX retreated from multi-month highs. Now it’s approaching the support level of 97.36, where a breakout can happen in order to test the 97.10 level, where the 200 SMA is located on H1 chart. However, the index is still bullish across the board, trading above the 200 SMA and it could re-test the 98.00 level […]
GBP/USD gained bullish momentum in Thursday’s session, posting a fresh high around the 1.2255 level. In the overall picture, the Pound is still very bearish and threatening to test the lows made after the “flash crash” which occurred last week. If the pair does a breakout above the 1.2312 level, then it will be able […]
Overview The gold price began today’s trading with bullish bias in an attempt to move away from $1,249.94 level. The bullish trend is likely to continue, and the stochastics supports this scenario. The price is waiting to surpass the EMA50 that forms intraday resistance at $1,270.50 to shrug off any negative pressure that might block […]
Since our previous analysis, gold has been trading sideways at the price of $1,259.00. On the 30M chart, I found yesterday’s point of control zone around the price of $1,259.10, using the market profile. The price respected that level and I found weak demand. The short-term trend is still downward. Watch for selling opportunities. Take […]
Global macro overview for 13/10/2016: The industrial production data from the eurozone surprised market participants yesterday by revealing better than expected figures. After last month decline of -0.7%, market participants expected a slight increase of 1.4%, but the reading released was at the level of 1.6% (annual advance was 1.8%). Although, the solid recovery demonstrated […]
Gold price has broken out of a short-term triangle pattern looking for a move higher towards $1,280-$1,300 at least. The $1,250 was an important support level and bouncing off this area was very possible as we expected. Could the entire decline be over at the last low? Red lines – triangle pattern Gold price has […]
Technical outlook and chart setups: Gold seems to have formed an interim higher low at $1,250.00/51.00 as expected after bouncing off from Fibonacci 0.382 support at $1,240.00. The metal is seen to be trading at $1,260.00 for now, looking to accelerate higher towards $1,300.00/10.00 levels. The wave structure also indicates that the counter trend rally […]
When the European market opens, some economic data will be released such as German Final CPI m/m. The US will publish 30-y Bond Auction, Crude Oil Inventories, Natural Gas Storage, Import Prices m/m, and Unemployment Claims. Thus, amid the reports EUR/USD is likely to move in a low to medium volatility during this day. TODAY’S […]
In Asia, Japan will release the Tertiary Industry Activity m/m, Bank Lending y/y while the US will publish 30-y Bond Auction, Crude Oil Inventories, Natural Gas Storage, Import Prices m/m, and Unemployment Claims. So there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance. 3: […]
The index is following a bullish structure across the board after the FOMC minutes was released during Wednesday’s session, but we noticed a pullback made in the 98.01 area. If USDX breaks above the resistance level of 98.01, it can perform a rally towards the 98.48 level. MACD indicator is entering the negative territory. H1 […]
The pair is still alive in the bearish bias on the H1 chart, but the resistance level of 1.2229 is capping further gains. Currently, the price is below the 200 SMA and a breakout below the support level of 1.2179 can put more downside pressure on the pair and push it towards the 1.2112 level […]
Since our previous analysis, gold has been trading sideways at the price of $1,255.00. On the 30M chart, I found yesterday’s point of control at $1,259.10, using the market profile. The price respected that level and sellers came in the market. The short-term trend is downward. Watch for selling opportunities. Take proft level is set […]
Gold price has been moving sideways since October 5th around the 38% Fibonacci retracement and the important $1,250 support. Is the entire correction over at this level or just its first part? A bounce towards $1,300 is expected. My longer-term view remains bullish. Red lines – triangle pattern Price is trading around $1,250 in a […]
EUR/USD: As it was forecasted, this equilibrium phase on this market has ended as the EUR/USD pair broke downwards, trending downwards and going below the resistance line at 1.1100, this has resulted in a Bearish Confirmation Pattern on the 4-hour chart. While there would be normal rally attempts along the way, bears would be able […]
Overview Gold price holds its positions above the 1,249.94 level. Importantly, stochastic reaches the thresholds of the oversold areas forming positive motive which can push the price to resume the bullish trend with the target at 1,297.74. Therefore, we will keep our bullish overview as long as 1,249.94 level remains intact. The price needs to […]
