Forex Analysis
Michael Becker
2014-12-19 16:49:27 UTC+00 18 hours, 37 min. ago
Risky traders should note that bearish breakout below 1.2250 exposes a potential projection target located around price level of 1.2100. Until then, Conservative traders should remain considering price zone of 1.2250-1.2220 as an important DEMAND zone for low-risk LONG entries (backside of the previous broken channel as well as the previous WEEKLY low).
Hossam Soliman Ali
2014-12-19 16:32:10 UTC+00 18 hours, 54 min. ago
As shown in today's 4H chart, the metal failed to break the support level of 15.70 yesterday and reversed its downward trend to trade below the resistance level of 16.00.
Michael Becker
2014-12-19 16:27:22 UTC+00 18 hours, 59 min. ago
The current outlook is bearish on the 4H chart. Successive lower highs and lows have been established before the current ranging movement started to occur. A consolidation movement ranging between the price levels of 1.5770 and 1.5550 took place. This represents state of indecision in the market after such long bearish rally that started off 1.7100 and 1.6500. Intraday traders should wait for bullish pullback towards the recent SUPPLY zone located around 1.5775-1.5810 for a low-risk SHORT position.
Hossam Soliman Ali
2014-12-19 16:27:09 UTC+00 18 hours, 59 min. ago
Proceeding from the today's 4H chart, the pair is still trading between the support level of 185.80 and the resistance level of 186.70, and currently the pair fails again to break the resistance level.
Mohamed Samy
2014-12-19 15:40:20 UTC+00 19 hours, 46 min. ago
Bullish fixation above the price level of 1.5760 (bullish breakout of the daily bearish channel) exposes the price levels of 1.5880 and 1.5950 for retesting. However, less probably, a break below the recent bottoms established around 1.5580-1.5540 renders the current consolidation range as a bearish flag pattern with projected target at 1.5310 like what happened back in October.
Mohamed Samy
2014-12-19 15:29:28 UTC+00 19 hours, 57 min. ago
The price zone of 1.1430-1.1460 remains the nearest SUPPORT zone for the current prices. It corresponds with the lower limit of the daily channel as well as the previous high that goes back to November. Persistence above this zone signaled the bullish tendency towards 1.1660-1.1690 (significant RESISTANCE zone). The price level of 1.1650 (which was our bullish final target) roughly corresponded with the upper limit of the bullish channel as well as 61.8% Fibonacci level. Long positions should have been left already.
Petar Jacimoviс
2014-12-19 13:24:32 UTC+00 22 hours, 2 min. ago
We can observe sideway market around the price of 1,195.00. We are waiting for a larger activity and stonger price action. I placed Fibonacci retracement to find potential support levels and got Fibonacci retracement 61.8% at the price of 1,195.00 (currently on the test). Be careful when selling gold and watch for potential buying opportunities.
Petar Jacimoviс
2014-12-19 13:13:06 UTC+00 22 hours, 13 min. ago
Support level is broken at the price of 1.5800. Be careful when buying EUR/NZD since we may see downward movement. Next support level is around the price of 1.5670 (swing low like support). We also have Fibonacci expansion 161.8% at the price of 1.5585.
Ahsan Aslam
2014-12-19 10:37:24 UTC+00 1 day, 49 min. ago
USD/JPY is expected to consolidate with bullish bias. USD/JPY is supported by the yen-funded carry trades amid positive risk sentiment as investors remained reassured by the Federal Reserve's pledge on Wednesday to be "patient" on raising interest rates, while data out of Germany and the U.K. were upbeat. USD/JPY is also supported by the higher U.S. Treasury yields, positive dollar sentiment, fewer than expected 289,000 U.S. jobless claims for a week ended onDecember 13, demand from Japan's importers and the Bank of Japan's large-scale monetary easing policy.
Ahsan Aslam
2014-12-19 10:30:55 UTC+00 1 day, 55 min. ago
USD/CHF is expected to consolidate with bullish bias after hitting a two-year-high 0.9848 on Thursday. CHF sentiment was hurt after the Swiss National Bank said on Thursday it would charge a negative interest rate of 0.25% on deposits from January 22 to cool the strength of the Swiss franc. USD/CHF is also supported by positive dollar sentiment and the franc sales on cross trades versus major currencies.
Ahsan Aslam
2014-12-19 10:20:55 UTC+00 1 day, 1 hour, 5 min. ago
NZD/USD is expected to trade in a higher range. It is supported by the kiwi demand on buoyant NZD/JPY cross amid positive risk sentiment and the kiwi demand on soft AUD/NZD cross and NZD-USD interest differential. But NZD/USD gains are tempered by the positive dollar sentiment (ICE spot dollar index last 89.21 versus 89.07 on early Thursday) on fewer than expected 289,000 U.S. jobless claims for a week ended on December 13 (versus forecast 295,000).
Ahsan Aslam
2014-12-19 10:09:09 UTC+00 1 day, 1 hour, 17 min. ago
GBP/JPY is expected to consolidate. It is supported by the positive risk sentiment and demand from Japan's importers. But GBP/JPY gains upside are limited by the Japanese export sales, soft EUR/USD undertone and positions adjustment before weekend. GBP sentiment is boosted by stronger than expected 1.6% on month and 6.4% on year increase in the U.K. November retail sales (versus forecast +0.4% on month, +4.5% on year).
Sebastian Seliga
2014-12-19 09:49:28 UTC+00 1 day, 1 hour, 37 min. ago
The count has been changed a little and now it is indicating a more complex corrective cycle WXY brown in wave 4 purple, where wave Y brown has not been completed yet. The degree of the waves has been raised one step higher and this is why it is taking so long for the market to complete the corrective cycle this time of the year. The level of 1.1670 is acting as a strong intraday resistance level. Despite the fact it has been tested three times, the market still can not break through it. Nevertheless, the most important support is the intraday support at the level of 1.1559 and the dynamic support provided by the golden trend line. In case of any downside breakout, the weekly pivot point at the level of 1.1533 should provide a strong level to bounce from. Please notice that the bias is still bullish and at least one more impulsive wave to the upside should be made sooner or later.
Sebastian Seliga
2014-12-19 09:29:21 UTC+00 1 day, 1 hour, 57 min. ago
December poor liquidity conditions are present on market and the market is not moving at all. The overall wave development is still consolidating inside of the golden channel, and average daily range is still rather narrow for this pair. The price is still testing the larger time frame support at the level of 145.70; and no decision on the future price movement has been made yet. Nevertheless, the bias is still to the upside, as the wave structure is corrective and there is still a good chance, that the impulsive waves to the upside will unfold soon.
Torben Melsted
2014-12-19 05:41:29 UTC+00 1 day, 5 hours, 45 min. ago
This sideways correction/consolidation jas just become even more complex than it already where. The failure to hold the break above the resistance line was really disappointing, but the leading expanding diagonal could still be developing as long as support at 1.5705 and more importantly as long as support at 1.5643 protects the downside.
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