Forex Analysis
Sebastian Seliga
2014-10-31 08:41:53 UTC+00 8 hours, 59 min. ago
The market has broken above the golden trend line but it does not looks like an impulsive breakout yet. To confirm more upward wave progression, bulls would have to move the price above the weekly pivot at the level of 1.1240 and then hit the intraday resistance at the level of 1.1295. Any breakout higher above this key level would be the strongest clue that the bullish trend is resuming. On the other hand, any breakout below the intraday support at the level of 1.1164 will put the demand zone to immediate test.
Mourad El Keddani
2014-10-31 08:36:21 UTC+00 9 hours, 4 min. ago
The price of the GBP/USD pair has still moved between the prices 1.5990 and 1.5947. The level of 1.5994 represents the weekly pivot point. It should be noted that the weekly pivot point coincides with the ratio of 38.2% Fibonacci retracement levels. Hence, the new resistance has set at the level of 1.5994; for that sell below 1.5994 in the long term with the first target of 1.5947 in order to test the double bottom; it might resume to 1.5910 (near of support area) if the trend will be able to break the double bottom at 1.5947. The stop loss should never exceed your maximum exposure amounts. Thus, it will be rather profitable to set your stop loss at the level of 1.6053.
Sebastian Seliga
2014-10-31 08:32:42 UTC+00 9 hours, 8 min. ago
After the fundamental news release from Japan, this market spiked way much higher, breaking the supply zon and technical resistance. For now, it has stopped just shy of the longer term golden trendline that can be seen on this H4 time frame chart. If we take a look a little closer, we might see the upward progression in three waves so far. It has hit the next Fibo extension at the level of 138.89 (161%(a)=(c)). Currently, two scenarios are possible: either this wave up will continue to the golden trendline and then reverse, or the market is loosing steam already and some corrective cycle to the downside is needed.
Harsh Japee
2014-10-31 07:49:26 UTC+00 9 hours, 51 min. ago
Technical analysis and trading recommendations for EUR/JPY for October 31, 2014. The EUR/JPY pair has hit and surpassed extension above 138.70/80 levels.
Harsh Japee
2014-10-31 07:02:21 UTC+00 10 hours, 38 min. ago
Technical analysis and trading recommendations for GBP/CHF for October 31, 2014. The GBP/CHF pair is stalling yet again at 1.5340/50 resistance. Reversal is awaited.
Harsh Japee
2014-10-31 05:52:40 UTC+00 11 hours, 48 min. ago
Technical analysis and trading recommendations for Silver for October 31, 2014. Silver dropped to the $16.35 levels yesterday, barely taking out stops at $16.40 levels. Gold and Silver are diverging, hinting a reversal ahead.
Harsh Japee
2014-10-31 05:28:19 UTC+00 12 hours, 12 min. ago
Technical analysis and trading recommendations for Gold for October 31, 2014. Gold has dropped below through the fibonacci 0.786 support around $1,198.00 levels for now.
Joseph Wind
2014-10-31 04:37:59 UTC+00 13 hours, 2 min. ago
In case the pair closes above 0.9576 on a daily basis, it can challenge 100 pips more on the upper side.
Arief Makmur
2014-10-31 04:02:59 UTC+00 13 hours, 37 min. ago
When the European market opens, some economic news will be released such as German Retail Sales m/m, French Consumer Spending m/m, Italian Monthly Unemployment Rate, CPI Flash Estimate y/y, Core CPI Flash Estimate y/y, Unemployment Rate, and Italian Prelim CPI m/m.
Arief Makmur
2014-10-31 04:01:48 UTC+00 13 hours, 39 min. ago
In Asia, Japan will release the Household Spending y/y, Tokyo Core CPI y/y, National Core CPI y/y, Unemployment Rate, Monetary Policy Statement, Housing Starts y/y, and BOJ Outlook Report.
Joseph Wind
2014-10-31 02:47:15 UTC+00 14 hours, 53 min. ago
As we recommend in our earlier articles, the longer-term picture favors bears with the target at $800.00
Joseph Wind
2014-10-31 00:58:32 UTC+00 16 hours, 42 min. ago
Bulls will regain the strength in case the pair closes above the 1.1223 level.
Joseph Wind
2014-10-31 00:17:29 UTC+00 17 hours, 23 min. ago
We recommend selling below 1.2595 for targets at 1.2585, 1.2575, 1.2550, 1.2510 and 1.2498 levels.
Felipe Erazo
2014-10-30 23:30:50 UTC+00 18 hours, 10 min. ago
The USDX has reached the level of 86.01, where this instrument has a fractal formed as part of the development of the current higher high pattern. However, the USDX is trying to make a breakout at the level of 86.40 to move up to the resistance level of 86.75
Felipe Erazo
2014-10-30 23:29:48 UTC+00 18 hours, 11 min. ago
The GBP/USD pair is trying to form a bearish pattern below the resistance level of 1.6004. This pair could fall in the coming hours to the support level of 1.5951, while this currency pair could make a bullish retracement above the resistance level of 1.6051
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