Forex Analysis
Michael Becker
2014-10-01 06:34:20 UTC+00 19 hours, 44 min. ago
Since July 15, bears initiated the manifested downtrend around 1.7180. This downside movement is maintained within the depicted bearish channel. Previous weekly bearish gap (about 150 pips) enabled bears to test 1.6058 when significant bullish recovery was manifested.
Michael Becker
2014-10-01 06:30:33 UTC+00 19 hours, 48 min. ago
The bearish slide below 1.2820 invalidated the possibility of a bullish reversal. Thus, bearish decline towards 1.2680 and 1.2570 took place shortly after achieving the projection targets of the bearish flag pattern. Careful watching of price action around the current price levels is essential to determine the next destination of the EUR/USD pair.
Azeez Mustapha
2014-10-01 06:00:20 UTC+00 20 hours, 18 min. ago
The USD/JPY pair continues its northward journey in a slow and steady manner. The price is currently trading above the demand level at 109.50 and it would soon break the supply level at 110.00 to the upside.
Joseph Wind
2014-10-01 04:54:28 UTC+00 21 hour, 24 min. ago
The pair has support at 1.1194,1.1155, and 1.1130. Below this, the pair will face some selling pressure. Use a dip to add the long positions.
Joseph Wind
2014-10-01 03:44:03 UTC+00 22 hours, 34 min. ago
The prices are facing strong resistance in a 1-month trend line, support has become resistance. We recommend buying above 139.12 for an upside target 139.45 and 139.65 levels
Ahsan Aslam
2014-10-01 03:43:00 UTC+00 22 hours, 35 min. ago
USD/JPY is expected to consolidate with a bullish bias after hitting a six-year high 109.86 on Tuesday. It is underpinned by the positive dollar sentiment (ICE spot dollar index hit four-year-high 86.218 Tuesday, last at 85.93 versus 85.62 early Tuesday) on relatively hawkish Federal Reserve's monetary policy and outperformance of the U.S. economy versus other major economies. USD/JPY is also supported by the demand from Japanese importers, higher U.S. Treasury yields (10-year at 2.495% versus 2.479% late Monday) and weak yen sentiment on surprise 1.5% on-month drop in Japan's August industrial production (versus forecast +0.3%) and ultra-loose Bank of Japan's monetary policy.
Ahsan Aslam
2014-10-01 03:36:25 UTC+00 22 hours, 42 min. ago
USD/CHF is expected to consolidate with a bullish bias after hitting a 14-month high 0.9597 on Tuesday. It is supported by the positive dollar sentiment (ICE spot dollar index hit four-year-high 86.218 Tuesday, last at 85.93 versus 85.62 early Tuesday) on relatively hawkish Federal Reserve's monetary policy and outperformance of the U.S. economy versus other major economies, contagion from weak EUR on CHF and dovish Swiss National Bank's monetary policy.
Ahsan Aslam
2014-10-01 03:23:01 UTC+00 22 hours, 55 min. ago
NZD/USD is expected to trade in a lower range. NZD/USD is supported by Kiwi demand on cross trades versus major currencies. But NZD/USD gains are tempered by the positive dollar sentiment, waning investor risk appetite and threat of the central bank intervened to weaken the NZD. It is supported by the positive dollar sentiment (ICE spot dollar index hit four-year-high 86.218 Tuesday, last at 85.93 versus 85.62 early Tuesday) on relatively hawkish Federal Reserve's monetary policy and outperformance of the U.S. economy versus other major economies.
Ahsan Aslam
2014-10-01 03:11:03 UTC+00 23 hours, 7 min. ago
GBP/JPY is expected to resume a bullish bias. It is undermined by the weak EUR sentiment and Japanese export sales. But GBP/JPY losses are tempered by the demand from Japanese importers and buoyant USD/JPY undertone and surprise 0.2% on-month drop in U.K. Nationwide September house price index (versus forecast +0.5%). Besides, the currency pair is also tempered by the sterling demand on soft EUR/GBP cross and expectations of rate increase from Bank of England in early 2015.
Arief Makmur
2014-10-01 02:25:21 UTC+00 23 hours, 53 min. ago
When the European market opens, some economic news will be released such as Spanish Manufacturing PMI, Italian Manufacturing PMI, Final Manufacturing PMI, and German 10-y Bond Auction.
Arief Makmur
2014-10-01 02:24:03 UTC+00 23 hours, 54 min. ago
In Asia, Japan will release the Tankan Manufacturing Index, Tankan Non-Manufacturing Index, and Final Manufacturing PMI.
Joseph Wind
2014-10-01 01:29:29 UTC+00 1 day, 49 min. ago
The pair has support at 1.27 below this only the pair turns to bearish on an hourly basis. Sustaining above 1.2745, we can see 1.28-1.2805 today.
Joseph Wind
2014-09-30 23:36:50 UTC+00 1 day, 2 hours, 41 min. ago
We recommend selling on every up move. Until the price trades below $1,212.50, the selling pressure still continues.
Felipe Erazo
2014-09-30 22:58:52 UTC+00 1 day, 3 hours, 19 min. ago
On the daily chart, you can see that the USDX has finally hit the resistance level of 86.20, because the USDX has been very strong in the bullish trend due to the strong impulses that the instrument has been getting after the publication of several economic indicators in the United States
Felipe Erazo
2014-09-30 22:57:51 UTC+00 1 day, 3 hours, 20 min. ago
On the daily chart, the GBP/USD pair has made a pullback at the resistance level of 1.6235, as this pair is pretty weak below the 200-day moving average, after filling the bullish gap some days ago. Now, the GBP/USD pair performed a rebound near the support level of 1.6146, so probably GBP/USD starts forming a bearish pattern
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