Forex Analysis
Hossam Soliman Ali
2014-07-25 15:34:28 UTC+00 11 hours, 30 min. ago
H4 chart: yesterday the metal failed to break the Support level of 20.00 to bounce again from it and trade between the Support level of 20.20 and the Resistance level of 20.50
Hossam Soliman Ali
2014-07-25 15:01:20 UTC+00 12 hours, 3 min. ago
As it was expected yesterday, we should make the decision after breaking the Support area of 172.60 and closing 4H below.
Michael Becker
2014-07-25 13:35:43 UTC+00 13 hours, 29 min. ago
Breakdown of 1.3500 invalidated the bullish structure allowing the bears to pursue towards the price level of 1.3420 (Fibonacci Expansion 100%). Bullish pressure may be be initiated around the current prices provided that the bears fail to fixate below 1.3400 on the daily basis. However, the current short-term trend remains intact to push lower until proven otherwise so the bulls should be conservative with their long positions.
Michael Becker
2014-07-25 13:23:03 UTC+00 13 hours, 41 min. ago
A pattern of multiple tops was confirmed after breakdown of the depicted bullish channel. Moreover, successive bearish targets were hit around 1.7055 and 1.7000. Risky traders may keep their SELL positions up to the price level of 1.6910 where the next prominent Demand Level is located provided that the bears manage to push below 1.6950 (prominent bottom).
Mohamed Samy
2014-07-25 13:12:42 UTC+00 13 hours, 52 min. ago
The price levels of 1.7050 failed to provide enough support for the pair. Hence, the bears had the potential bearish target around 1.6970. The GBP/USD pair remains supported by DAILY Levels around 1.7000 which is a prominent top established in May as well as important psychological support. Price level 1.6920 is the next support level to meet the pair in case the bears managed to breakdown price zone of 1.6970-1.7000.
Mohamed Samy
2014-07-25 13:06:58 UTC+00 13 hours, 57 min. ago
Bullish price action was expressed at retesting 1.0630 which is the origin of the previous bullish impulse initiated in December 2013 and the backside of the upper limit of the broken 4H channel. That's why, a valid BUY entry was suggested. Expected targets are located around 1.0750 and 1.0820. SL should be advanced to be slightly below 1.0650. The bulls should be conservative with their targets and tight Stop Loss as the USD/CAD pair has been down trending for a long period. The downtrend could resumed anytime enhanced by 4H breakdown below 1.0700.
Sebastian Seliga
2014-07-25 12:04:32 UTC+00 15 hours ago
This pair has not made much movement so far. However, there are some indications, that the corrective cycle in form of a green abc irregular flat wave 2 has been completed and the market might be ready for another leg down. Moreover, it looks like the first wave to the downside has already been made and this would be a very good opportunity for day traders to enter the market on the short side with very limited risk. Break below the first and second intraday support level in an impulsive fashion is another clue that the count is valid.
Sebastian Seliga
2014-07-25 11:39:24 UTC+00 15 hours, 25 min. ago
Due to the lack of any particular movement on lower timeframes on this forex pair, let's take a look on alternate Elliott Wave labeling on the daily timeframe. This count is quite bearish as the wave progression suggests that the market is in the middle of green wave 3 development. More downside price action is expected as long as the blue corrective channel provides the dynamic resistance. The most important level for bears is the black impulsive count invalidation line at the level of 1.0811. This level can not be broken in order to develop correctly to impulsive wave progression to the downside. The projected target level for blue wave 5 of wave 3 green is the zone between the levels of 1.0514 - 1.0530. Please notice, that the market is below 50, 100 and 200 daily moving averages and this fact supports the bearish case.
Mourad El Keddani
2014-07-25 09:24:47 UTC+00 17 hours, 39 min. ago
The NZD/USD pair will keep moving downwards from the level of 1.7003 (this level coincides with the 61.8% of Fibonacci retracement levels in H4 chart). But, it should be noted that the support had already stood at the price of 1.6950 for that we expect a saturation around the spot of 1.6950 and 1.6945. Accordingly, the Cable (British pound vs the US dollar) is going to show signs of strength at the lowest price of 1.6950 on July 26, 2014. Thus, it will be a good deal to buy above the level of 50% (1.6945) of Fibonacci retracement levels in H4 chart with the first target at 0.7003 and further at 0.7030. Equally important, 0.7030 will be acting as a strong resistance, so it is going to be a good place to take profit. Also, it should be noticed that this level of taking profit will coincide approximately with the ratio of 61.8% of Fibonacci retracement levels).
Mourad El Keddani
2014-07-25 09:07:32 UTC+00 17 hours, 57 min. ago
According to the previous events, the NZD/USD pair is moved between the levels of 0.8622 and 0.8506. Resistance will be formed at the level of 0.8620 providing a clear signal for sell deals with the target seen at 0.8503. Stop-loss is to be placed above 0.8660. The major support will be formed at the level of 0.8405 providing a clear signal for buy deals with the target seen at the 0.8610 level.
Alexandros Yfantis
2014-07-25 08:10:35 UTC+00 18 hours, 54 min. ago
The Dollar index remains in the upward trend making higher highs and higher lows. The price is now testing the previous high at 81. Our intermediate-term target remains at 81.75.
Torben Melsted
2014-07-25 08:03:23 UTC+00 19 hours, 1 min. ago
Look for acceleration high as the base-channel resistance-lin has been broken.
Torben Melsted
2014-07-25 07:56:04 UTC+00 19 hours, 8 min. ago
We have seen the expected rally in red wave iv. It should be just a matter of time before this correction is over.
Alexandros Yfantis
2014-07-25 07:55:36 UTC+00 19 hours, 9 min. ago
The Gold price has made a new lower low yesterday at $1,287 but did not stay long below $1,290. Now, it is trading at $1,292.80 making an upward corrective bounce. I expect the downward move to resume and the price to reach at least $1,275.
Ahsan Aslam
2014-07-25 06:51:29 UTC+00 20 hours, 13 min. ago
USD/JPY is expected to trade in a higher range. It is underpinned by the positive dollar sentiment (ICE spot dollar index last 80.86 versus 80.81 early Thursday) as 19,000 drop in U.S. jobless claims to an eight-and-a-half year low of 284,000 in the week ended July 19 (versus 305,000 forecast) and surprise rise in Kansas City Fed's Manufacturing Activity Index to 9 in July from 6 in June (versus the forecast for no change) outweighed by bigger-than-expected 8.1% on-month drop in U.S. new home sales to 406,000 in June (versus forecast of 5.8% drop to 475,000), sharp downward revision of May sales to 442,000 from a previously estimated 504,000 as well as drop in Markit flash U.S. manufacturing PMI to 56.3 in July from 57.3 in June.
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