Forex Analysis
Ahsan Aslam
2014-10-30 16:22:21 UTC+00 12 hours, 12 min. ago
USD/JPY is expected to consolidate with a bullish bias after hitting a three-week high 108.97 on Wednesday. USD/JPY is underpinned by the positive dollar sentiment (ICE spot dollar index last 85.98 versus 85.41 early Wednesday) after the Federal Reserve confirmed the end of its monthly bond-buying program and delivered a slightly more-hawkish-than-expected policy statement as it offered a relatively optimistic assessment of the outlook for the U.S. labor market and economy. USD/JPY is also supported by the higher U.S. Treasury yields (10-year at 2.321% versus 2.284% late Tuesday), demand from Japan's importers and ultra-loose Bank of Japan's monetary policy.
Ahsan Aslam
2014-10-30 16:18:07 UTC+00 12 hours, 17 min. ago
USD/CHF is expected to trade in a higher range. It is underpinned by the positive dollar sentiment (ICE spot dollar index last 85.98 versus 85.41 early Wednesday) after the Federal Reserve confirmed the end of its monthly bond-buying program and delivered a slightly more-hawkish-than-expected policy statement as it offered a relatively optimistic assessment of the outlook for the U.S. labor market and economy, franc sales on soft CHF/JPY cross and dovish Swiss National Bank's monetary policy.
Ahsan Aslam
2014-10-30 16:13:34 UTC+00 12 hours, 21 min. ago
NZD/USD is expected to consolidate with a bearish bias after hitting a three-week low 0.7766 on Wednesday. It is undermined by the less-hawkish-than-expected Reserve Bank of New Zealand's policy statement as the central bank kept interest rates on hold at 3.5%. The RBNZ has shifted, removing the mild tightening bias and implicitly making the next policy move open-ended, Citigroup says.
Petar Jacimoviс
2014-10-30 14:27:51 UTC+00 14 hours, 7 min. ago
Demand in an ultra high volume in the background. Price went into a bearish corrective phase but we can observe testing of our Fibonacci retracement 61.8% at the price of 1.6095. Be careful when selling EUR/NZD at this stage since we may see bullish movement. Watch for potential buying opportunities on the lows.
Petar Jacimoviс
2014-10-30 14:16:49 UTC+00 14 hours, 18 min. ago
We can observe strong supply in the background (selling climax). Be careful when buying Gold at this stage since the price has broke our Fibonacci retracement 61.8% (1,210.00). Watch for potential selling opportunities after retracement.
Harsh Japee
2014-10-30 10:01:36 UTC+00 18 hours, 33 min. ago
Technical analysis and trading recommendations for EUR/USD for October 30, 2014. The EUR/USD pair has dropped below 1.2600 levels but it is expected to carve a higher bottom above 1.2500.
Alexandros Yfantis
2014-10-30 10:01:23 UTC+00 18 hours, 33 min. ago
The Dollar index has held support yesterday. After the FOMC minutes, the greenback strengthened and broke above resistance levels signaling the start of a new upward move that could push the index towards 91. The trend is bullish as long as price is above 85.15.
Alexandros Yfantis
2014-10-30 09:56:21 UTC+00 18 hours, 38 min. ago
Gold price has broken short-term support at $1,221 and price is moving towards our short-term target of $1,200 already. My longer-term view remains bearish targeting $1,050. Important resistance for a trend change is the $1,240.
Torben Melsted
2014-10-30 09:35:33 UTC+00 18 hours, 59 min. ago
With a low at 1.6003 we were dangerously close to our stop. The rally of the 1.6003 low is clearly impulsive in character and the next upside target some in at 1.6498.
Torben Melsted
2014-10-30 09:26:01 UTC+00 19 hours, 9 min. ago
Wave B ended at 138.03 and wave C lower to 130.99 is developing. Short term, a break below support at 136.59 will confirm that wave B is over and wave C is developing.
Arief Makmur
2014-10-30 09:00:16 UTC+00 19 hours, 34 min. ago
When the European market opens, some economic news will be released such as German Prelim CPI m/m, Spanish Flash CPI y/y, Spanish Flash GDP q/q, German Unemployment Change, and Italian 10-y Bond Auction. The US will release the flash GDP q/q, Unemployment Claims, flash GDP Price Index q/q, and Natural Gas Storage. So, amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY TECHNICAL LEVELS: Breakout BUY Level: 1.2694. Strong Resistance
Arief Makmur
2014-10-30 08:59:53 UTC+00 19 hours, 35 min. ago
In Asia, Japan will not release any economic news, but the US will release some economic data such as flash GDP q/q, Unemployment Claims, flash GDP Price Index q/q, and Natural Gas Storage. So, there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session. TODAY TECHNICAL LEVELS
Sebastian Seliga
2014-10-30 08:23:31 UTC+00 20 hours, 11 min. ago
The low anticipated yesterday for purple wave (2) looks to be in place now. The market move is just below the golden trendline and it is waiting for a breakout. The key level for the market is the level of 1.1292 and any breakout above the level is bullish with a high possibility of new highs to be made. Moreover, any failure at that level means that the corrective cycle will be more complex and time-consuming.
Harsh Japee
2014-10-30 08:14:21 UTC+00 20 hours, 20 min. ago
Technical analysis and trading recommendations for EUR/JPY for October 30, 2014. The EUR/JPY pair has hit the first estimated target at 138.00 yesterday. Partial profits can be booked.
Sebastian Seliga
2014-10-30 07:48:59 UTC+00 20 hours, 46 min. ago
As anticipated two days ago the one to one equal legs market geometry pattern between waves a and c green has been completed and supply zone has provided the resistance necessary to move the market down. Currently it looks like intern sub-cycle wave -i- is completed and now the market is in wave -ii- of the cycle. When the correction is finished, the market should break below the level of 137.25 in impulsive fashion and continue lower.
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