Trading plan for 10/10/2017: The overnight currency changes are not big, but USD is the weakest major currency. The Dollar remains at a low level with EUR/USD rising to 1.1770. USD/JPY oscillates at 112,60, which is roughly where it was on Monday. Stock markets in Asia ignored Wall Street slumps, Gold held high, and Crude […]
EUR/JPY has been quite volatile recently since the NFP report hit the market on Friday. The pair has shown equal amount of pressure from the bullish and bearish participants of the market, but bulls took charge with steady gains in the market. Today, German Trade Balance report was published with an increase to 21.6B from […]
USD/JPY is expected to trade with a bullish outlook. Despite the recent pullback, the pair is still supported by a rising 50-period moving average. The relative strength index is mixed with bullish bias. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Therefore, above 112.30, look for a […]
The Dollar index is making lower lows and is now testing important short-term cloud support. Short-term trend is still bullish but we have reversal signs since last Friday. Black lines – bullish channel Red lines – bearish divergence signs The Dollar index is at the upper cloud boundary in the 4 hour chart. Both RSI […]
Gold price has broken above the short-term resistance trend lines and is testing important cloud resistance at $1,290. Breaking above the 4-hour cloud will be an important short-term reversal confirmation. I continue to believe that the next leg up towards $1,400 has started. Black line -resistance Red line – resistance Gold price is trading above […]
Last minute burning forecast 10/10/2017 The EURUSD pair has a buy signal. There are no significant news on the market. The crisis around Catalonia has somewhat weakened, gradually shifting to the series of statements – and, possibly, negotiations. The “US-North Korea” crisis may develop – but so far there have been no new developments. The […]
NZD/USD is under pressure and expected to continue the downside movement. The pair is under pressure below the key resistance at 0.7085 (the high of Oct. 9). The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index is bearish and calls for another downside. To sum up, […]
Overview: Yesterday, the NZD/USD pair fell from the level of 0.7128 towards 0.7087. Now, the price is set at 0.7069 to act as a minor support. It should be noted that volatility is very high for that the NZD/USD pair is still moving between 0.7128 and 0.7040 in coming hours. Furthermore, the price has been […]
EUR/USD has been quite corrective and volatile recently in a bearish trend which is currently residing below 1.1800 price level. Recently EUR has been quite positive with the economic reports whereas USD was found having series of negative reports ahead of Rate Hike in December. NFP report was unable to help USD on Friday due […]
Overview: The USD/CHF pair faced a major resistance at the level of 0.9785 because the double top is set around the area of 0.9785/0.9845. Consequently, the strong resistance has already been formed at the level of 0.9785 and the pair is likely to try to approach it in order to test it again. However, if […]
Wave summary: EUR/NZD should soon take out the “old” top at 1.6690 for a continuation higher towards 1.6712 and after a minor consolidation, a continuation higher to 1.7038 should be expected. Support is now seen at 1.6561, which ideally will protect the downside for the rally to 1.6712. Should a break below 1.6561 be seen, […]
Wave summary: We continue to look for resistance at 132.77 and more importantly resistance at 132.89 to cap the upside for a decline below minor support at 131.70 that will call for a decline towards at least 130.37 and possibly lower. Should resistance at 132.89 be broken, that would call for a continuation higher to […]
EUR/USD: On Monday, the EUR/USD went upwards in the context of a downtrend. Unless price goes above the resistance line at 1.1850 (which would require a strong buying pressure), the upwards movement would create a good opportunity to go short at a better price. The support lines at 1.1750 and 1.1700 could thus be tested […]
When the European market opens, some Economic Data will be released, such as Italian Industrial Production m/m, French Industrial Production m/m, and German Trade Balance. The US will release the Economic Data, too, such as IBD/TIPP Economic Optimism and NFIB Small Business Index, so, amid the reports, EUR/USD will move in a low to medium […]
In Asia, Japan will release the Economy Watchers Sentiment and Current Account data, and the US will release some Economic Data, such as IBD/TIPP Economic Optimism and NFIB Small Business Index. So, there is a probability the USD/JPY will move with … volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 113.27. Resistance. 2: 113.06. […]
The price continues to test our strong resistance and selling level as we wait for a reaction. We remain bearish today looking to sell below 1.11744 resistance (Fibonacci retracement, horizontal pullback resistance, bearish divergence) for a push down to at least 1.1653 support (Fibonacci extension). Stochastic (21,5,3) is seeing major resistance below 95% and we […]
The price is still testing our wedge support and we can see that it is trying to break that key level of support. We look to sell once again on the break of key support at 112.65 (overlap support, wedge support) for a drop towards 110.90 support (Fibonacci retracement, horizontal overlap support). RSI (55) sees […]
“Cherchez la femme” or look for the woman. Market participants are looking towards Theresa May whose weak speech at the Conservative Party Congress led to the worst week for the pound since the beginning of the year. Since September 20, the GBP / USD quotes have lost more than six figures. However, if many people […]
USDX continues to be in a corrective move that points to test the 200 SMA, according to the H1 chart. Around that area we can expect a rebound to take place towards the resistance level of 94.04, at which a breakout should open the doors to reach the 94.58 level in a first degree. MACD […]
GBP/USD has moved in a bullish tone during Monday’s session, consolidating gains slightly above the 1.3100 handle. The pair is now expected to break above the resistance level of 1.3195 in order to post new highs above the 200 SMA on H1 chart. Around the moving average, pullbacks are expected to take place. MACD indicator […]
Technical outlook: The EUR/USD pair has been forming a series of lower highs and lower lows since forming a potential top at 1.2092 levels earlier. Looking at the current price action, a short-term hourly structure has been presented here for trade direction in the next 1-2 days. The pattern that is taking shape at the […]
The Bitcoin (BTC) has been trading upwards. As I expected, the price tested the level of $4.617 driven on the news that Malaysia central bank Governor is taking bitcoin cues from China. His glib statements are attracting widespread regional attention, as Southeast Asia’s 4th largest economy attempts to reconcile notorious financial conservatism with radical financial […]
Recently, the USD/JPY pair has been downwards. The price tested the level of 112.33. According to the 15M time – frame, I found a fake breakout of Friday’s low at the price of 112.48, which is a sign that selling looks risky. There is a hidden bullish divergence on moving average oscilator and a confirmed […]
Recently, the GBP/USD has been trading upwards. The price tested the level of 1.3183 in an ultra high volume. According to the 30M time – frame. I found a testing of upper trendline of an upward intraday channel, which is a sign that buying looks risky. The price is in overbought intraday zone according to […]
Trading plan 09 – 10/13/2017 This week has unproductive news. Monday is the US Columbus Day. The important point of the week is Friday which is the released of inflation data in the US. On Wednesday is the publication of Fed “minutes” but the policy of the Fed is very open and the probability of […]
Daily Outlook In February 2017, the depicted short-term downtrend was initiated around the depicted supply zone (0.7310-0.7380). However, a recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as depicted on the chart. The price zone of 0.7150-0.7230 (Key-Zone) stood as a temporary resistance zone […]
Global macro overview for 09/10/2017: The NFP-Payroll data surprised global investors. The highlight number was worse than expected, (30k vs. 80k0, but that were the only data that did not beat the expectations and can easily be attributed to statistical disturbances related to the effects of hurricanes.The fact that the Unemployment Rate unexpectedly fell by […]
Bitcoin analysis for 09/10/2017: According to the Wall Street Journal, an international cryptocurrency may soon be launched. This might be an answer to recent comments by Christine Lagarde, chief of the IMF, to encourage banks and governments to become interested in Bitcoin and other cryptocurrencies. Following a recent announcement by the Dubai government of its […]
Trading plan for 09/10/2017: A quiet start of the week in Asia due to the absence of investors from Japan. The overnight PMI data from China has disappointed the global investors. The currency market is stable with a slight advantage of GBP and CHF. The GBP/USD bounce to 1.3100 level is the strongest, though without […]
Breaking forecast 10.09.2017 EURUSD: Prepare for the breakthrough of the range. The course of the EURUSD has stopped in a narrow range – it is likely that the breakthrough of limits will be with a strong movement. On Monday, trading will be potentially muted – in the US there is a holiday (Columbus Day). The […]
