Forex Analysis
Harsh Japee
30 Mar 2015, 14:48 UTC+00
Technical analysis and trading recommendations for Silver for March 30, 2015. Silver continues to drop lower for now. Support is expected around $16.00.
Harsh Japee
30 Mar 2015, 14:25 UTC+00
Technical analysis and trading recommendations for Gold for March 30, 2015. Gold has been pulling back since hitting the level of $1,220.00 last week. Best buy is around the levels of $1,170.00/72.00.
Felipe Erazo
30 Mar 2015, 13:52 UTC+00
The USDX remains bullish at the daily chart and we can see a rebound in progress on the support level of 96.60. In the upside, the next target is the resistance zone of 98.01.
Felipe Erazo
30 Mar 2015, 13:52 UTC+00
In the daily chart, the support zone around the level of 1.4820 continues to reject the current price action of the GBP/USD pair, because bears are trying to gain territory. However, the pair is still trapped in that range.
Mourad El Keddani
30 Mar 2015, 13:19 UTC+00
The market of the EUR/USD pair was moving in uptrend last week. Moreover, the trend was clear because the price moved lower to 1.0765; but the price of EUR/USD pair has been rebounding higher towards the level of 1.0876. According to the previous events, the price of the EUR/USD pair is going to move between the levels of 1.0803 and 1.0943. Therefore, we expect a range of 141 pips in coming days. Also, it should be noted that the price of 1.3584 is the key level to confirm the bullish market. The level of 1.0752 represents the weekly support one. So, buy above the level of 1.0767 (the double bottom in the H1 chart), with the first target at 1.0902 in order to test the weekly pivot point at the same time frame.
Mourad El Keddani
30 Mar 2015, 13:07 UTC+00
According to the previous events, the GBP/USD pair is going to move between the levels of 1.4803 and 1.4952. Resistance is likely to be set at the level of 1.4981 and support is already placed at 1.4783. We expect a new range more than 169 pips this week. The key level will be set at the level of 1.4888. The weekly pivot point is set at the same price. It should be noted that if there is no significant news to influence, the market price will be moving from pivot point to resistance 1 or support 1. But if there is significant news to influence, the market price may go straight through resistance 1 or support 1 and reach resistance 2 or support 2 and even resistance 3 or support 3.
Alexandros Yfantis
30 Mar 2015, 11:49 UTC+00
The Dollar index made an upward reversal from the 61.8% retracement. This area of support was the last chance for Dollar bulls to reverse the market to the up side. Strong resistance at 98.20 must be broken in order to confirm trend reversal. Rejection here could imply another test of the lows at 96.
Alexandros Yfantis
30 Mar 2015, 11:41 UTC+00
Gold price remains in a short-term bearish trend after the bearish reversal from $1,220. Gold price has broken short-term support and is heading towards $1,180-75, which might be the last chance for a bounce towards $1,250. If important weekly support at $1,130 gets broken, we should expect the price to move towards $1,000 or even $900.
Sebastian Seliga
30 Mar 2015, 11:03 UTC+00
The current wave progression is developing as we anticipated last week. The first possible impulsive wave upwards is almost done. The key level for the market to continue with this progression is weekly pivot at the level of 1.2561. The demand breakthrough zone unfolded between the levels of 1.2700 - 1.2721. Please note that the alternate count still indicates a possibility of more complex wave X brown in progression that might even target the recent swing high at the level of 1.2833.
Sebastian Seliga
30 Mar 2015, 10:48 UTC+00
The bottom for wave (b) blue seems to be in place now. Further confirmation of the bullish trend resumption is needed to confirm the impulsive wave progression. So, intraday support at the level of 129.01 can not be violated as well. However, in case of a new local low in this pair, the alternate count would be even more reliable than ever, showing the possibility of a completed WXY corrective cycle in wave 2 black and further sell off in this market targeting the technical support at the level of 126.89.
Joseph Wind
30 Mar 2015, 07:53 UTC+00
GBP/JPY: until the cross close above 178.20, the near-term bearish view remains in play. EUR/JPY: use every rise to sell with sl 130.50, safe selling below 129.00.
Joseph Wind
30 Mar 2015, 07:47 UTC+00
USD/JPY- we can see inverse head and shoulder formation, aiming for 120.00. USD/CAD- we request traders who followed my trade to move their stop loss at 1.2500. Until the price close above 1.2530 bulls remain in play.
Arief Makmur
30 Mar 2015, 06:52 UTC+00
When the European market opens, some
Arief Makmur
30 Mar 2015, 06:52 UTC+00
In Asia, Japan is expected to release the Prelim Industrial Production m/m. The US will release economic data on Pending Home Sales m/m, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So, there is a strong probability that the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.
Azeez Mustapha
30 Mar 2015, 03:27 UTC+00
The cable moved only sideways throughout last week, with neither bulls nor bears gaining the upper hand. As long as bulls and bears have equal stamina, the sideways movement can continue until a rise in momentum, which could cause an imbalance on the market. The imbalance is likely to favor bulls.
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