Forex Analysis
Michael Becker
2014-09-18 15:48:36 UTC+00 3 hours, 53 min. ago
One more day of sideway consolidation.. Is the medium-term downtrend about to end ? A bullish reversal "Head and Shoulders" pattern is being established. The bulls are waiting for confirmation. Key Zone for today's consolidation is located at 1.2980-1.3000. Four-hour above which confirms the bullish reversal towards 1.3180.
Mohamed Samy
2014-09-18 15:35:07 UTC+00 4 hours, 7 min. ago
A confirmed continuation Flag pattern is being retested. Projection target is roughly located at 1.1250. Breakout above price Level of 1.1025 offered a BUY position and repeating the opportunity today at retesting.
Mohamed Samy
2014-09-18 15:31:14 UTC+00 4 hours, 11 min. ago
Bullish engulfing daily candlestick emerged off 1.6050. This enhanced the bullish side of the market to push towards 1.6350 and 1.6380. Key-level for bulls is the recent low around 1.6050. It should be defended by bulls to maintain bullish momentum.
Mohamed Samy
2014-09-18 15:30:27 UTC+00 4 hours, 11 min. ago
Bullish engulfing daily candlestick emerged off 1.6050. This enhanced the bullish side of the market to push towards 1.6350 and 1.6380. Key-level for bulls is the recent low around 1.6050. It should be defended by bulls to maintain bullish momentum.
Hossam Soliman Ali
2014-09-18 15:26:59 UTC+00 4 hours, 15 min. ago
As shown in the today's H4 chart, the metal failed to break the Support level of 18.30 to bounce again and trade between the Support level and below the Resistance level of 18.50
Ahsan Aslam
2014-09-18 15:18:10 UTC+00 4 hours, 24 min. ago
USD/JPY is expected to consolidate with bullish bias after hitting six-year high at 108.69 this morning. Spotlight is on Thursday on U.K.'s referendum on Scottish independence. USD/JPY is underpinned by the positive dollar sentiment (ICE spot dollar index last 84.78 versus 84.09 early on Wednesday) after the Federal Reserve reduced its monthly bond purchases by another $10 billion to $15 billion and retained its guidance that short-term interest rates will remain near zero for a "considerable time" after the bond-buying program is expected to end next month, but forecast a faster pace of rate increases in 2015 and 2016--the median forecast from Fed officials sees the fed-funds rate at 1.375% by the end of 2015, compared with a 1.125% forecast in June.
Ahsan Aslam
2014-09-18 15:11:57 UTC+00 4 hours, 30 min. ago
USD/CHF is expected to consolidate with bullish bias after hitting one-year high 0.9433 this morning as markets await 0730 GMT Swiss National Bank's interest rate decision and SNB is expected to keep rates unchanged and maintain its currency limit of 1.2 franc per euro. CHF sentiment are dented by the drop in ZEW-Credit Suisse Switzerland indicator of economic sentiment to minus 7.7 in September from plus 2.5 in August. USD/CHF is also supported by the positive dollar sentiment and dovish Swiss National Bank's monetary policy.
Ahsan Aslam
2014-09-18 15:04:43 UTC+00 4 hours, 37 min. ago
NZD/USD is expected to consolidate with bearish bias after hitting seven-month low 0.8073 on Wednesday.It is Undermined by the positive dollar sentiment (ICE spot dollar index last 84.78 versus 84.09 on early Wednesday) after the Federal Reserve reduced its monthly bond purchases by another $10 billion to $15 billion and retained its guidance that short-term interest rates will remain near zero for a "considerable time" after the bond-buying program is expected to end next month, but forecast a faster pace of rate increases in 2015 and 2016--the median forecast from Fed officials sees the fed-funds rate at 1.375% by the end of 2015, compared with a 1.125% forecast in June , wider-than-expected New Zealand 2Q current account deficit and less hawkish Reserve Bank of New Zealand's policy stance.
Ahsan Aslam
2014-09-18 14:53:55 UTC+00 4 hours, 48 min. ago
GBP/JPY is expected to consolidate with bullish bias. Supported by buoyant USD/JPY undertone and demand from Japan importers. But GBP/JPY gains tempered by Japan exporter sales and GBP/USD by GBP demand on soft EUR/GBP cross and on buoyant GBP/JPY cross. U.K. employment data released on Wednesday were mixed as bigger-than-expected drop in U.K. jobless rate to near-six-year low of 6.2% in the three months to July from 6.4% in the three months to June (versus forecast 6.3%) offsets larger-than-expected 37,200 drop in U.K. August jobless claimant count (versus forecast 32,000).
Sebastian Seliga
2014-09-18 14:52:51 UTC+00 4 hours, 49 min. ago
It looks like the main bullish count will be invalidated and this is why on H4 time frame there is ready alternative count with greater details about the corrective cycle in shape of ABC green irregular flat formation. THe key level for intraday traders is the intraday support at the level of 1.0924 and any breakout lower is bearish as the corrective cycle would be in play then. On a Daily chart it is easy to notice that the projected target level for corrective cycle completion is almost in line wish the lower longer-term trend line support.
Sebastian Seliga
2014-09-18 13:57:03 UTC+00 5 hours, 45 min. ago
Another impulsive bearish count has been invalidated on lower time frame, so this is the time to check the larger time frames and update the overall outlook for this pair. Starting from the weekly chart, the impulsive structure in big wave 1 blue has been completed and for 50% of time of this wave 1 the market had been in complex corrective cycle that has been completed this week and labeled as big wave 2 blue. First confirmation came with the long-term golden trendline breakout and now the outlook is incredibly bullish but one word of a caution must be said: the corrective cycle in big wave 2 blue has not even met the minimum retracement criteria of 23%Fibo.
Petar Jacimoviс
2014-09-18 13:04:25 UTC+00 6 hours, 37 min. ago
Sideways market. We are facing very low activity on the market. According to the 4H time frame, we can observe neutral bar in an ultra high volume, which is sign that sideways market took the place. Be careful when selling and watch for potential buying opportunities.
Petar Jacimoviс
2014-09-18 12:53:18 UTC+00 6 hours, 49 min. ago
Fibonacci expansion 161.8% at the price of 1,218.00 is on the test so be careful when selling at this stage. According to the 4H time frame, we can observe selling climax in the background so we may expect reaction from buyers. Anyway, if the price breaks the level of 1,218.00, we may see testing the level of 1,194.00 (Fibonacci expansion 100%).
Mourad El Keddani
2014-09-18 09:31:06 UTC+00 10 hours, 11 min. ago
The AUD/USD pair had fallen from the level of 0.9111, and it was extended further to as low as 0.9015 this week. So, new resistances have placed at the levels of 0.9111 and 0.9015. Furthermore, the price had been below 38.2% of Fibonacci retracement levels in the daily chart. Additionally, it should be noted that the price had formed strong resistance at the 0.9015 level. Moreover, this strong level has still been trapped between 38.2% of Fibonacci retracement levels and 23.6% in daily chart. As it is known, history usually repeats itself at certain level. Consequently, it will be reasoneble to use historic rates to determine future prices, hence it is probably that the market will show the bearish signs again in order to indicate a bearish opportunity at the level of 0.9015 with targets towards the strongest support around the 0.8933 level.
Mourad El Keddani
2014-09-18 09:12:03 UTC+00 10 hours, 30 min. ago
The USD/CAD pair rebounded at the level of 1.0886 and it showed signs of strength following the level of 1.0886. In H1 chart, the pair has already formed a strong support at the level of 1.0886 which coincides with the ratio of 23.6% Fibonacci retracement levels. Additionally, the resistance has broken and turned to support at the same key level (1.0886) and the price set above the support since 8th of September 2014. Equally important, look forward to that the USD/CAD pair will be trapped between 1.0926 and 1.1010. For that reason, the USD/CAD pair started showing the signs of bullish market, so the market indicates the bullish opportunity at the level of 1.0886 with the first target of 1.1000, and continues towards the level of 1.1040 again (1.1038 is representing the ratio of 78.6% Fibonacci retracement levels).
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