Forex Analysis
Ahsan Aslam
2014-11-21 09:04:34 UTC+00 1 day, 19 hours, 19 min. ago
USD/JPY is expected to consolidate after hitting a seven-year high 118.98 on Thursday. It is supported by the weak yen sentiment on Bank of Japan's large-scale easing policy and positive investor risk appetite (VIX fear gauge eased 2.72% to 13.58; S&P 500 rose 0.20% to post record-high close of 2,052.75 overnight) after surprise surge in Philadelphia Fed business index to 40.8 in November--the highest since December 1993--from 20.7 in October (versus forecast for drop to 18.0), unexpected 1.5% increase in U.S. October existing home sales (versus forecast for 0.1% decrease), stronger-than-expected 0.9% rise in Conference Board U.S. Leading Economic Index to 105.2 in October (versus forecast +0.6%).
Ahsan Aslam
2014-11-21 08:58:28 UTC+00 1 day, 19 hours, 25 min. ago
USD/CHF is expected to consolidate with a bearish bias. It is supported by the consequence from weaker euro sentiment on the Swiss franc and ultra-loose Swiss National Bank's monetary policy. USD sentiment tempered by more-than-expected 291,000 U.S. jobless claims in week ended Nov. 15 (versus forecast 283,000), weaker-than-expected Markit flash U.S. November manufacturing PMI of 54.7, the lowest in 10 months (versus forecast 56.0). But USD/CHF upside is limited by the positions adjustment ahead of weekend.
Ahsan Aslam
2014-11-21 08:52:16 UTC+00 1 day, 19 hours, 31 min. ago
NZD/USD is expected to trade in a higher range. It is supported by the positive investor risk appetite, Kiwi demand on soft AUD/NZD cross andNZD-USD interest differential. USD sentiment is tempered by more-than-expected 291,000 U.S. jobless claims in week ended Nov. 15 (versus forecast 283,000), weaker-than-expected Markit flash U.S. November manufacturing PMI of 54.7, the lowest in 10 months (versus forecast 56.0). But NZD/USD gains are tempered by the weak dairy prices and positions adjustment ahead of the weekend.
Hossam Soliman Ali
2014-11-21 08:45:35 UTC+00 1 day, 19 hours, 38 min. ago
Proceeding from the today's H4 chart, the pair is still trading between the Support level of 184.40 and the Resistance level of 186.00. Currently, the pair fails again to break the Resistance level.
Ahsan Aslam
2014-11-21 08:43:55 UTC+00 1 day, 19 hours, 40 min. ago
GBP/JPY is expected to consolidate with a bullish bias. Sterling sentiment boosted by stronger-than-expected 0.8% on-month and 4.3% on-year increase in U.K. October retail sales (versus forecast +0.3% on-month, +3.8% on-year). It is supported by the soft yen sentiment and demand from Japan's importers. But GBP/JPY upside is limited by Japan's export sales, weaker euro sentiment after disappointing Markit flash eurozone November PMIs and profit-taking on short-yen positions ahead of a long weekend in Japan.
Hossam Soliman Ali
2014-11-21 08:31:03 UTC+00 1 day, 19 hours, 52 min. ago
In today's H4 chart, the metal is still trading between the support level of 16.00 and below the resistance level of 16.50. After its failure to break the resistance level yesterday and the bounce from it, it took a slight downward move.
Sebastian Seliga
2014-11-21 08:03:00 UTC+00 1 day, 20 hours, 20 min. ago
Five wave impulsive sequence might be completed here at the level of 146.51. Now, at least three wave corrective cycles should start, but the confirmation comes first with the level of 144.71 breakout. Then, intraday golden trend line breakout would be possible as well. Nevertheless, the last wave to the upside might not have been completed as blue wave 4 is still a rather small corrective wave when compared to the other corrective cycle inside the progression. That would mean, the current downward wave might be purple wave c of the overall quite irregular flat corrective cycle in blue wave 4. Traders need to wait until the market confirms/invalidates this scenario.
Sebastian Seliga
2014-11-21 08:02:40 UTC+00 1 day, 20 hours, 21 min. ago
The corrective cycle is developing just as anticipated. Now, the question remains whether this corrective wave (iv) green has been completed or if this is only the beginning of more complex and time-consuming corrective cycle in shape of a triangle. So far, the price action that would confirm the bottom in wave (iv) green and immediate trend reversal would be an impulsive wave progression to the upside, that would easily violate the golden channel and make a new high above the level of 149.15. On the other hand, any new low below the level of 147.46 would mean the market might make more complex and time-consuming correction. The key level here that should act as support is the level of 146.53.
Sebastian Seliga
2014-11-21 07:48:39 UTC+00 1 day, 20 hours, 35 min. ago
The corrective cycle looks like it has been completed and if the count is correct the market should be ready to continue to the downside. Currently, the market consolidates around the weekly pivot at the level of 1.1313. If the intraday resistance at the level of 1.1367 is not violated, the odds favor the downside here. If the intraday support at the level of 1.1259 will not hold, then the next support comes at the level of 1.1224, so quite close to the anticipated technical support level and invalidation line at the level of 1.1220.
Harsh Japee
2014-11-21 07:32:05 UTC+00 1 day, 20 hours, 51 min. ago
Technical analysis and trading recommendations for EUR/JPY for November 21, 2014. The EUR/JPY pair is retracing after printing fresh highs at sub 149.00 levels yesterday.
Harsh Japee
2014-11-21 07:21:02 UTC+00 1 day, 21 hour, 2 min. ago
Technical analysis and trading recommendations for GBP/CHF for November 21, 2014. The GBP/CHF pair has made a higher low at 1.4960 levels yesterday before pulling back and printing high at 1.5060/70 levels.
Harsh Japee
2014-11-21 06:56:18 UTC+00 1 day, 21 hour, 27 min. ago
Technical analysis and trading recommendations for Silver for November 21, 2014. Silver has bounced off from $15.90 levels yesterday. Bulls could remain in control till prices stay above $15.30.
Harsh Japee
2014-11-21 06:41:52 UTC+00 1 day, 21 hour, 42 min. ago
Technical analysis and trading recommendations for Gold for November 21, 2014. Gold looks to have formed base around $1,175.00 levels yesterday. The metal needs to push through $1,204.00/05.00 levels.
Joseph Wind
2014-11-21 05:49:53 UTC+00 1 day, 22 hours, 34 min. ago
The prices are trading near a 2-week trend line support at 0.9557 and 0.9530. In case an hour candle closes below 0.9530, we can expect another 100 pips correction.
Joseph Wind
2014-11-21 04:43:45 UTC+00 1 day, 23 hours, 40 min. ago
We recommend fresh selling below $1,188.00, selling pressure will become stronger below $1,186.00.
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