Forex Analysis
Ahsan Aslam
2014-07-31 12:51:53 UTC+00 4 hours, 41 min. ago
USD/JPY is excpected to consolidate with a bullish bias after hitting a three-week high at 103.15 on Wednesday. It is underpinned by the positive dollar sentiment (ICE spot dollar index last 81.42 versus 81.21 early Wednesday) on stronger-than-expected 4.0% annual growth in U.S. 2Q GDP (versus forecast +3.0%), higher U.S. Treasury yields (two-year yield rose as high as 0.591%--highest since May 2011).
Ahsan Aslam
2014-07-31 12:49:46 UTC+00 4 hours, 43 min. ago
USD/CHF is expected to consolidate with a bullish bias after hitting a six-month high at 0.9110 on Wednesday. CHF sentiment is dented by the lower-than-expected Switzerland July KOF economic indicator of 98.1 (versus 100.6 in the forecast).
Ahsan Aslam
2014-07-31 12:47:46 UTC+00 4 hours, 45 min. ago
NZD/USD is expected to consolidate with a bearish bias after hitting a near-two-month low at 0.8461 on Wednesday. It is undermined by the positive dollar sentiment, weak dairy prices and ongoing impact from Reserve Bank of New Zealand Gov. Wheeler's comment last week that the Kiwi's strength is "unjustified and unsustainable" as well as by the signal of a pause in the RBNZ's rate-tightening cycle.
Ahsan Aslam
2014-07-31 12:46:13 UTC+00 4 hours, 46 min. ago
GBP/JPY is expected to consolidate with a bearish bias. It is supported by the buoyant USD/JPY undertone and demand from Japanese importers. But GBP/JPY gains are tempered by Japanese export sales.
Mourad El Keddani
2014-07-31 09:53:04 UTC+00 7 hours, 39 min. ago
The AUD/USD pair has dropped from the strong level of 0.9333 and extended further to as low as 0.9294 today but it closed at the 0.9315 level yesterday. It should be noted that the resistance will form at 0.9333 because this level also formed a double top on July 31, 2014. Furthermore, the price has set below 38.2% of Fibonacci retracement levels. Additionally, please be aware that we expect a saturation around the level of 0.9333. Hence, the market is likely to start showing the signs of a bearish market again in order to indicate a bearish opportunity from the level of 0.9333 (38.2% of Fibonacci retracement levels in H4 chart).
Mourad El Keddani
2014-07-31 09:39:11 UTC+00 7 hours, 53 min. ago
The USD/CAD pair is going to call for an uptrend market on July 31, 2014. The price will probably be moved between the level of 1.0885 and the 1.0950 level in order to form a range of 65 pips in the coming hours. However, risk to reward ratios are important and should always be calculated. So, a risk (65 pips) reward ratio of 1:1.5 is recommended which must make a profit of 98 pips. The support sets at the level of 1.0885 which represents a weekly pivot point. Therefore, the bulls are going to buy above 1.0885 with a first target of 1.0920,
Torben Melsted
2014-07-31 08:41:26 UTC+00 8 hours, 51 min. ago
Not much new to add here. The extension target at 1.5811 is still intact, but we still prefer it to be broken soon for a continuation higher to 1.5900 and more likely to 1.6041
Harsh Japee
2014-07-31 08:37:09 UTC+00 8 hours, 55 min. ago
Technical analysis and trading recommendations on NZD/JPY for July 31, 2014. The NZD/JPY pair has broken the trend line support, rallies through 88.00/50 could be sold.
Torben Melsted
2014-07-31 08:33:02 UTC+00 9 hours ago
We saw a strong rally is USD/JPY, which of course also had its effects on this cross.
Harsh Japee
2014-07-31 08:17:04 UTC+00 9 hours, 15 min. ago
Technical analysis and trading recommendations on WTI Crude for July 31, 2014. Crude is potentially going for a bearish break below 99.00 levels for now.
Alexandros Yfantis
2014-07-31 08:14:31 UTC+00 9 hours, 18 min. ago
The Dollar index continues its upward move as expected by our analysis. The Dollar is strong and we move closer to our target of 81.75. The trend remains up and any pullback should be bought.
Alexandros Yfantis
2014-07-31 08:07:51 UTC+00 9 hours, 25 min. ago
The Gold price was pushed lower yesterday towards $1,290 but has kept support at $1,287. As long as the price is trading above $1,287, bulls will feel safe.
Harsh Japee
2014-07-31 07:14:33 UTC+00 10 hours, 18 min. ago
Technical analysis and trading recommendations on EUR/AUD for July 31, 2014. The EUR/AUD pair has climbed to the first potential resistance at 1.4360/70 as seen here.
Sebastian Seliga
2014-07-31 07:02:25 UTC+00 10 hours, 30 min. ago
After breakout above the invalidation line, the main scenario has been invalidated and prices went higher in a corrective cycle. The shape of corrective wave progression looks so far as a simple (a)(b)(c) and one more small wave to the upside is missing to complete the correction. The target for this wave is between the levels of 138.02 - 138.08. Then either reversal to the downside is next, or the correction will get more complicated and time-consuming.
Harsh Japee
2014-07-31 06:52:42 UTC+00 10 hours, 40 min. ago
Technical analysis and trading recommendations on EUR/GBP for July 31, 2014. The EUR/GBP pair has been drifting sideways for a few sessions recently. A break above 0.920/30 levels would bring back control to bulls.
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