Forex Analysis
Michael Becker
2014-08-28 15:39:13 UTC+00 7 hours, 23 min. ago
In case bears keep applying significant bearish pressure, the EUR/USD pair has Intraday DEMAND zone located between 1.3200 - 1.3150 respectively (Fibonacci Expansion Levels). The pair has been trading between these levels since Monday. However, daily closure should be considered to determine if the current breakdown will persist or a corrective move towards 1.3300 will take place. Bullish fixation above 1.3285 is essential to acquire a momentum strong enough to initiate a bullish corrective move towards 1.3340 and 1.3410 as well.
Michael Becker
2014-08-28 15:27:32 UTC+00 7 hours, 35 min. ago
The GBP/USD pair has been downtrending for almost 20 days without significant correction. However, bullish correction is expected to happen as long as the reversal pattern remains valid. Thus, any bullish fixation above 1.6600 hinders the current steep trend allowing the reversal pattern to hit its projection target at 1.6650-1.6670 initially.
Mohamed Samy
2014-08-28 15:12:35 UTC+00 7 hours, 50 min. ago
Two bullish spikes were expressed above 1.4950 (50% Fibonacci level on the daily chart) took place. However, the bulls failed to pursue the bullish breakout leading to failure of the bullish breakout attempt. Since then, the EUR/AUD pair has been moving within the depicted RED channel in an attempt to reach the lower limit located roughly around 1.3880. However, the current prices being tested correspond to a prominent bottom (since November 2013). This may pause the ongoing bearish momentum temporarily. Note that failure of the bulls to provide enough buying pressure at the current levels, will probably expose 1.3900-1.3860 to be re-tested.
Mohamed Samy
2014-08-28 15:00:51 UTC+00 8 hours, 2 min. ago
Price action should be watched today for a possible BUY entry upon bullish breakout of the current channel depicted on the 4H chart. Projection targets are roughly located at 1.6660 and 1.6705. On the other hand, the next bearish destination is located around 1.6460 in case the bears keep developing such bearish momentum. (Price level of 1.6460 corresponds to a prominent bottom on the daily chart).
Mohamed Samy
2014-08-28 14:54:43 UTC+00 8 hours, 8 min. ago
Conservative traders should wait for higher entry levels to be retested especially around 1.0880-1.0900. Daily closure below price zone of 1.0870-1.0850 confirms a long-term double-top pattern with its projection target located at 1.0770. On the other hand, daily fixation above 1.0950 (50% Fibonacci level) enables the bulls to shoot towards 1.1020 and 1.1050 initially (very low probability in the meanwhile ).
Petar Jacimoviс
2014-08-28 13:46:38 UTC+00 9 hours, 16 min. ago
Selling pressure on the market. Our Fibonacci retracement 38.2% at the price of 1.5710 is on the test. If the price breaks the level of 1.5710 we may see potential testing the level of 1.5595 (Fibonacci retracement 61.8%).
Petar Jacimoviс
2014-08-28 13:37:45 UTC+00 9 hours, 25 min. ago
Buying climax (ultra high volume demand) in the background. So, be careful when buying. I have placed Fibonacci retracement to find potential resistance levels and I got Fibonacci retracement 38.2% around the price of 1,291.00-1,300.00. Watch for potential sleling opportunities after retracement.
Sebastian Seliga
2014-08-28 11:38:09 UTC+00 11 hours, 24 min. ago
The projected target level from yesterday did not work and after breaking the support level the market declined to the demand zone and closed below it. Now, the key level to the upside is intraday resistance at the level of 1.0868 and only a clear breakout above this level is bullish intraday. The market is in a corrective cycle and any new low here would mean that the correction will be more complex and time-consuming.
Hossam Soliman Ali
2014-08-28 11:30:43 UTC+00 11 hours, 32 min. ago
Yesterday, the metal failed to break the support level of 19.30 to reverse its bearish movement and took a slightly upward move.
Mourad El Keddani
2014-08-28 11:20:45 UTC+00 11 hours, 42 min. ago
According to the previous events, the AUD/USD pair will probably move between the prices of 0.9385 and 0.9320. Equally important, the resistance has set at the price of 0.9371 and the support at the 0.9300 price. Also, it should be noted that the current price is at 0.9371 now. Accordingly, if the trend fails to close above the level of 0.9371, then it will be a good opportunity to sell below 0.9371 with the first target at 0.9340, then it will be continued bearish towards 0.9300. So, we expect a range of 71 pips in the coming hours. Notwithstanding, the stop loss should be always taken into account because it should never exceed your maximum exposure amounts.
Hossam Soliman Ali
2014-08-28 11:14:01 UTC+00 11 hours, 49 min. ago
From today's H4 chart, yesterday's closing below the resistance level of 172.60 gives the price an opportunity for a bearish move after its failure to break the resistance level once again
Sebastian Seliga
2014-08-28 11:11:35 UTC+00 11 hours, 51 min. ago
The impulsive wave progression to the downside has been developing properly during the last four days. Now, the outlook remains the same: more downside is being expected as the impulsive structure has not been completed yet. There is a possible test of the level of 136.76 but the the failure is expected and downtrend should resume. The first projected target is at the level of 135.67.
Mourad El Keddani
2014-08-28 11:02:57 UTC+00 12 hours ago
According to the previous events, the USD/CHF pair has still been moving between the levels of 0.9225 and 0.9105. It should be noted that the key level is set at the price of 0.9102 because it represents strong support and it coincides with the ratio of 38.2% Fibonacci retracement level. Equally important, the double top will be formed at the 0.9160 level but it seems the price is going to break this level in order to continue towards the level of 0.9226 (Also, note that the level of 0.9226 coincides with the ratio of 50% Fibonacci retracement level in H4 chart). As it is known, history will probably repeat itself at this level again.
Torben Melsted
2014-08-28 09:51:59 UTC+00 13 hours, 11 min. ago
We are still looking for important support at 1.5692 to protect the downside for a rally above minor resistance at 1.5755 and more importantly above resistance at 1.5782 for a strong rally higher.
Harsh Japee
2014-08-28 09:42:25 UTC+00 13 hours, 20 min. ago
Technical analysis and trading recommendations on EUR/JPY for August 28, 2014. The EUR/JPY pair is still testing back side of the resistance turned support line around the 137.00 levels. Remain long.
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