Forex Analysis
Arief Makmur
2014-07-23 07:35:52 UTC+00 8 hours, 24 min. ago
When the European market opens, some economic news will be released such as Consumer Confidence. The US will release the economic data too such as the Crude Oil Inventories, so amid the reports, EUR/USD will move with low volatility during this day
Arief Makmur
2014-07-23 07:34:48 UTC+00 8 hours, 25 min. ago
In Asia, Japan will not release any economic data, and the US will release some economic data such as Crude Oil Inventories. So there is a big probability the USD/JPY will move with low volatility during the day
Joseph Wind
2014-07-23 07:33:13 UTC+00 8 hours, 27 min. ago
The pair has been making lower lows for the last four days. The intraweek trading pattern is framed between 172.60-173.80. On the down side, if the pair hits 172.60, it can fall to 172.36, 172.10, 171.70, 170.95 and 170.70 levels. On the upside, if the pair breaches the resistance at 173.80, it can fly
Joseph Wind
2014-07-23 07:30:05 UTC+00 8 hours, 30 min. ago
The pair drifted to a 5-month low, holding its nearest support at 136.20 (February 2014 low). If this week, the pair closes below 136.20, the downfall will continue to 134 and 131.20 levels. In Asia's session, the pair is trading at 136.52, a low made at 136.46 levels
Joseph Wind
2014-07-23 07:27:17 UTC+00 8 hours, 33 min. ago
The US dollar is strenghtened due to that the US House price index rose 0.4% in May. The CPI increased 0.3% in June. The housing market sends an optimism wave towards the housing market recovery, which helps the US economy to recover. The yellow metal moved to the crucial weekly support level at $1,399.50, a low made at $1,301.70
Joseph Wind
2014-07-23 07:23:46 UTC+00 8 hours, 36 min. ago
The Euro drifted to an 8-month low at 1.3460. On the down side, the pair has strong support at 1.3460, below this, 1.3420 (200DEma) and 1.34 (50MSma). A week close below this, we can see 1.3295 and 1.32 in the short term. We still recommend selling until it trades below 1.37
Azeez Mustapha
2014-07-23 07:11:57 UTC+00 8 hours, 48 min. ago
There are interesting events in the markets. For instance, the USD/CHF has eventually succeeded in breaking the great support level at 0.9000 to the upside, closing above it. The price has been making attempts to go further upwards since then.
Alexandros Yfantis
2014-07-23 07:04:30 UTC+00 8 hours, 56 min. ago
The Dollar index has broken short-term resistance as expected and is moving higher towards our short-term target of 81. Our longer-term target remains 81.75 with increased chances of seeing even higher levels. The trend is strongly bullish.
Felipe Erazo
2014-07-23 06:53:45 UTC+00 9 hours, 6 min. ago
The USDX has made a breakout at the resistance level of 80.62, so the next target in this instrument is the resistance level of 81.50 in the long term, although it is likely that the USDX start forming a bullish pattern to that level
Alexandros Yfantis
2014-07-23 06:53:09 UTC+00 9 hours, 7 min. ago
Gold price continues to trade above $1,300, but still the trend remains bearish as price is below important resistance levels and is making lower highs and lower lows.
Felipe Erazo
2014-07-23 06:52:41 UTC+00 9 hours, 7 min. ago
The GBP/USD made slow movements during the session yesterday, where the pair tried to approach the support level of 1.7000. For now, the bearish outlook remains alive in the GBP/USD, because this pair found strong resistance at the level of 1.7170 a few days ago
Mohamed Samy
2014-07-22 16:40:15 UTC+00 23 hours, 20 min. ago
As expected, bullish price action was expressed at retesting 1.0630 which is the origin of the previous bullish impulse initiated in December 2013 and the backside of the upper limit of the broken 4H channel.
Mohamed Samy
2014-07-22 15:43:06 UTC+00 1 day, 17 min. ago
The price levels of 1.7050 constitute a significant support level to meet the pair on its way downwards. It's also the key level to determine how deep a bearish correction can go before resuming the bullish momentum. The GBP/USD pair remains trapped roughly between 1.7170 and 1.7050 (which is being tested today). Breakout in either direction is needed to pursue towards further targets. The bears have already visited 1.7040. Daily closure should be considered. The bears have potential bearish target around 1.6970. However, traders should consider price level of 1.7000 (Important Psychological level).
Michael Becker
2014-07-22 15:37:01 UTC+00 1 day, 23 min. ago
A pattern of multiple-tops was confirmed after breakdown of the depicted bullish channel. Moreover, the first bearish target was hit around 1.7055. To avoid possible sudden reversals, bearish targets should be located at 1.7055 and 1.7000 where obvious demand levels are located. On the other hand, risky traders may keep their SELL positions until the price level of 1.6965 where the next prominent Demand Level is located.
Michael Becker
2014-07-22 15:30:43 UTC+00 1 day, 29 min. ago
The bears have already pushed towards 1.3460 which showed immediate bullish recovery. Bullish pressure may be applied around the current prices provided that the bears fail to fixate below 1.3500 on the daily basis. However, the current short-term trend remains bearish towards 1.3420 until proven otherwise.
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