Forex Analysis
Sebastian Seliga
2014-08-29 12:56:41 UTC+00 2 days, 18 hours, 28 min. ago
Not much has changed in this pair since yesterday as the consolidation area is still being maintained. Only a clear breakout above the level of 1.0868 would change the intraday bias to the bullish side. Please, notice the increasing bullish divergence is building on the momentum oscillator. At the moment, there is no clear direction bias, so patience is needed now.
Sebastian Seliga
2014-08-29 12:49:39 UTC+00 2 days, 18 hours, 36 min. ago
Unfortunately, there is something else going on than a simple downward impulsive wave development. It looks like the corrective cycle is going to be more complex and time-consuming. Due to invalidation of several important rules, the current count has been updated and the bearish impulsive count has been cancelled. According to the new labeling, the are chances that after the downside failure the higher prices will be seen as the corrective cycle is not completed. The current labeling is WXY brown complex triple three structure in red wave 2 and there is one more wave to the upside missing to complete the correction.
Petar Jacimoviс
2014-08-29 11:31:17 UTC+00 2 days, 19 hours, 54 min. ago
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 1.5600. Be careful when buying EUR/NZD and watch for potential selling opportunities.
Petar Jacimoviс
2014-08-29 11:21:18 UTC+00 2 days, 20 hours, 4 min. ago
We can observe absorption volume in the background according to the 1H time frame, which is a sign that buying Gold looks risky. Watch for potential selling opportunities. The second major down station is still at the price of 1,260.00 (Fibonacci expansion 100%).
Torben Melsted
2014-08-29 09:49:00 UTC+00 2 days, 21 hour, 36 min. ago
With the break below 1.5692 a more complex correction is unfolding. We do not think the downside potential is overwhelming. But as long as resistance at 1.5767 protects the upside, we could see a decline to 1.5589 before this correction is over
Mourad El Keddani
2014-08-29 09:43:55 UTC+00 2 days, 21 hour, 41 min. ago
According to the previous events, the price of GBP/USD is going to move between the levels of 1.6635 and 1.6640. The prices of 1.6635 and 1.6640 are going to form resistance and support respectively. Also, it should be noticed that the price of 1.6538 will form a triple bottom today. So, buy above the level of 1.6538 which represents the triple bottom in H1 chart with the first target at 1.6615. Then, the trend will be able to continue towards the level of 1.6635. Notwithstanding, the stop loss should be set at 1.6513. The level of 1.6635 represents strong resistance.
Torben Melsted
2014-08-29 09:34:13 UTC+00 2 days, 21 hour, 51 min. ago
We finally broke clearly below short-term important support at 136.81, which ideally will protect the upside now; but only a break above 137.29 will cause concern.
Mourad El Keddani
2014-08-29 09:29:48 UTC+00 2 days, 21 hour, 55 min. ago
The EUR/USD pair rebounded at the level of 1.3220. It showed signs of strength following the level of 1.3220. As expected, the minor support was broken and turned to minor resistance at the same key level (1.3220). Another thought, the price set below the resistance four days ago. Consequently, the pair has already formed a big gap around the spot of 1.3220 and 1.3240. Furthermore, the price has still been moving between 1.3220 and 1.3150. Therefore, the EUR/USD pair started showing the signs of a bearish market. So, the market indicates the bearish opportunity at the level of 1.3220/.3240 with the first target of 1.3170, and continues towards the level of 1.3115 in order to try testing the weekly support 2.
Alexandros Yfantis
2014-08-29 09:13:40 UTC+00 2 days, 22 hours, 11 min. ago
The Dollar index has made a short-term upward reversal yesterday but still not a new high. This double top near the 61.8% retracement is a bearish sign and we remain bearish opting for a short position specially if support at 82.40 is broken.
Alexandros Yfantis
2014-08-29 08:58:46 UTC+00 2 days, 22 hours, 26 min. ago
Gold price made another upward move yesterday towards the $1,295 resistance and got rejected. Today, there is a lot of selling pressures pushing price towards critical support of $1,280. Gold should bounce higher from the current levels above $1,295 soon, otherwise sellers will come back stronger.
Joseph Wind
2014-08-29 03:20:27 UTC+00 3 days, 4 hours, 5 min. ago
On a daily basis, the pair declined and closed below 20Dsma and 200Dsma. On the down side, it has support at 1.08; a daily close below 1.08; the near-term target may be found around the 1.0765 and 1.07 levels.
Joseph Wind
2014-08-29 02:50:02 UTC+00 3 days, 4 hours, 35 min. ago
The trading range is between 136.36-138.02. We will see panic below 136.36 and a huge spike above 138.02. Fresh sell only below 136.36.
Arief Makmur
2014-08-29 02:15:23 UTC+00 3 days, 5 hours, 10 min. ago
When the European market opens, some economic news will be released such as German Retail Sales m/m, Italian Monthly Unemployment Rate, Italian Quarterly Unemployment Rate, CPI Flash Estimate y/y, Core CPI Flash Estimate y/y, Unemployment Rate as well as Italian Prelim CPI m/m.The US will release its Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Chicago PMI, Revised UoM Consumer Sentiment, and Revised UoM Inflation Expectations. So amid the reports, EUR/USD
Arief Makmur
2014-08-29 02:14:19 UTC+00 3 days, 5 hours, 11 min. ago
In Asia, Japan will release its Household Spending y/y, Tokyo Core CPI y/y, National Core CPI y/y, Unemployment Rate, Prelim Industrial Production m/m, Retail Sales y/y, and Housing Starts y/y. Meanwhile, the US will unveil its Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Chicago PMI, Revised UoM Consumer Sentiment, and Revised UoM Inflation Expectations. So there is a big probability the USD/JPY pair will move with low to medium volatility
Joseph Wind
2014-08-29 01:49:34 UTC+00 3 days, 5 hours, 36 min. ago
A weekly close is expected above $1,292; strong move is on the cards. - pending.
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