Since our previous analysis, gold has been trading downwards. As I expected, the price tested the level of $1,252.47 in a high volume. According to the 30M time frame and using the market profile analysis, I found a rejection from a profile peak at the price of $1,262.00, which is a sign that sellers are […]
On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of a significant bearish rejection was manifested during recent consolidations. On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where […]
Gold price continues to trade inside the downward sloping channel despite the bounce from $1,241 to $1,266. The current price formation implies that this is just a pause in the downward trend and a new low towards $1,215 should follow. However, this will change only if we see a break above $1,266. Dark blue lines […]
USD/CHF is expected to trade in a higher range as the bias remains bullish. The pair is trading above its rising 50-period moving average, which now acts as strong support. At the same time, a support base at 0.9790 has formed, and the downside room should be limited by this level. Additionally, the relative strength […]
Price reached our profit target for the fourth time in a row. We now look to buy above 1.1130 major support (Fibonacci projection, Fibonacci retracement) for a push up to 1.1205 target. Stochastics (21,3,3) is above 6% support where multiple bounces have occurred previously. Buy above 1.1130. Stop loss at 1.1100. Take profit at 1.1205 […]
Price has reached our profit target once again. We look to continue to buy above 103.35 support (Fibonacci retracement, wave structure) for a further push up to 104.95. RSI (34) remains above a strong ascending support which keeps our bullish view. Buy above 103.35. Stop loss at 102.75. Take profit at 104.95. The material has […]
Price is close to major resistance at 115.75 (Fibonacci retracement, Fibonacci projection, horizontal overlap resistance) where we expect a reaction from and a drop to 114.50. RSI (34) has made a bearish channel exit signalling a bearish move is in being triggered. Sell below 115.75. Stop loss at 116.34. Take profit at 114.50. The material […]
Price reached our profit target perfectly from yesterday again. We are ready to sell at major resistance at 1.0700 (Fibonacci projection, Fibonacci retracement) for a drop to 1.0575. RSI (34) is below the long-term descending resistance line. Sell below 1.0700. Stop loss at 1.0750. Take profit at 1.0575. The material has been provided by InstaForex […]
NZD/USD is under pressure. Despite the recent technical rebounds, the pair is still trading below its key resistance at 0.7145, which maintains the strong selling pressure. The downward momentum is further reinforced by the descending 50-period moving average. Besides, the relative strength index is mixed to bearish below its neutrality area at 50. To sum […]
GBP/JPY is under pressure. The pair remains capped by its descending trend line, and is likely to test the next support at 126.80. The downward momentum is further reinforced by the falling 50-period moving average, which maintains a bearish bias. In addition, the 130 level represents a key resistance, and the upside potential should be […]
When the European market opens, some economic data will be released such as ZEW Economic Sentiment, German ZEW Economic Sentiment. The US will also publish some economic news such as Federal Budget Balance, Labor Market Conditions Index m/m, NFIB Small Business Index, so amid the reports, EUR/USD will move in a low to medium volatility […]
In Asia, Japan will release the Economy Watchers Sentiment, Current Account and the US will reveal some Economic Data such as Federal Budget Balance, Labor Market Conditions Index m/m, NFIB Small Business Index. So there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance. 3: […]
EUR/USD: This is a trendless market, albeit things look choppy right now. Price swings are observed between the resistance line at 1.1250 and the support line at 1.1100. The price needs to go above the resistance line or below the support line before there could be a directional movement. USD/CHF: This pair moved further upwards […]
Since our previous analysis, gold has been trading sideways at the price of $1,264.15. According to the 30M time frame, I found rejection from a point of control at the price of $1,265.00, which is a sign that sellers are in control. The short-term trend is downward and my advice is to watch for selling […]
NZD/CAD rejected 50% Fibs (0.9506) and 200-Moving Average, suggesting that a downtrend is about to continue. Today the pair broke below the 50-Moving Average which could be a trigger for sellers to get into the short positions. Based on our previous analysis, consider holding short positions from 0.9500, targeting either 23.6% (0.9410) or 0% Fibs […]
AUD/CHF has been trading between two moving averages 50 and 200 but today it closed above both of them suggesting the continuation of an uptrend. The nearest resistance remains at 38.2% Fibs (0.7473) which is very likely to be tested. However, only a breakout above this resistance could provide further growth. At this point consider […]
Recently, EUR/NZD has been moving sideways at the price of 1.5635. On the 30M time frame, I found a trading range between the price of 1.5520 (support) and the price of 1.5680 (resistance). According to the daily time frame, EUR/NZD is in an upward trend. The pair is trading above the 21 SMA and 50SMA, […]
Technical outlook and chart setups: Gold seems to have initiated its much awaited counter trend rally on Friday. The metal has bottomed out at $1,240.00/41.00 levels and rallied through $1,265.00 levels after that. It is expected to drop lower in a corrective manner towards $1,250.00/51.00 levels before extending its correction towards $1,300.00/10.00 levels going forward. […]
Gold price is bouncing off the $1,250 area as expected. Price remains inside a bearish channel, so a short-term trend remains bearish as long as price is below $1,270. A backtest of $1,300 is very possible but we might first see $1,240 again. Dark blue lines – bearish channel Gold price has bounced off the […]
NZD/USD is expected to trade in a higher range. The pair broke above its 20-period and 50-period moving averages, which act as support and maintain the upside bias. The relative strength index is bullish above its neutrality level at 50. Additionally, 0.7115 is playing a key support role, which should limit the downside potential. As […]
GBP/JPY is under pressure. The pair has been capped by a negative trend line, and remains under pressure. Meanwhile, the 20-period moving average stays below the 50-period one, and the relative strength index lacks upward momentum. The weakening of British pound, which experienced a flash crash of up to 10% in early Asian trading hours […]
EUR/USD: This is a trendless market. Price went briefly below the support line at 1.1150 and then got to the resistance line at 1.1200, closing at that price of October 7, 2016. This equilibrium phase might end very soon, but it would require price to go above the resistance line at 1.1300 or below the […]
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Since our previous analysis, gold has been trading upwards. The price tested the level of $1,264.67 in a high volume. Using the market profile analysis, I noted the yesterday’s point of control at $1,264.70 and the price respected that level, which is sign that buying looks risky. Gold is in downward trend, so watch for […]
It is recomended to buy EUR/AUD above 1.4715 support (channel exit) for a push up to 1.4845. RSI (21) has made a bullish exit as expected and this keeps our bullish view on EUR/AUD. Buy above 1.4715. Place stop loss at 1.4670 and take profit at 1.4845. The material has been provided by InstaForex Company […]
Technical outlook and chart setups: Gold counter trend rally is awaited and should materialize today. The yellow metal has bounced off $1,250.00 level as expected which is fibonacci 0.382 support of the entire rally between $1.046.00 and $1,375.00 levels respectively. The metal seems to have now completed its first leg A within the A-B-C corrective […]
AUD/CHF is trading right at the 50% Fibonacci support level (0.7430) which is the trendline breakout point. On a corrective wave down, price formed a bullish divergence on MACD which could mean that trend up is about to continue. If AUD/CHF manages now to hold 0.7430 support, consider buying on the breakout of the most […]
NZD/CAD seems to find a resistance near 38.2% Fibs (0.9464) but hasn’t tested yet any of the downside targets. Consider holding NZD/CAD shorts from 0.9500 to target either 23.6% (0.9410) or 0% Fibs (0.9327). The stop loss can be moved lower, just above the 50% Fibs level (0.9506). Support: 0.9411, 0.9327 Resistance: 0.9464, 0.9506, 0.9548 […]
Overview The gold price touched our awaited target at $1,249.94 and showed bullish rebound from there. The price is likely to regain the main bullish trend after the correctional decline that prevailed in the dynamic since touching the recently recorded top at $1,375.00. Stochastic shows clear positive signals on the four-hour time frame. Therefore, the […]
Gold price remains in a downward trend and has reached important medium-term support at $1,250 and from current levels I expect a bounce. The reason will most probably be the NFP numbers announced later today. Blue lines – bearish channel Gold price is in a bearish trend, has broken below the 61.8% Fibonacci retracement, oscillators […]
