Forex Analysis
Ahsan Aslam
2014-10-24 15:34:41 UTC+00 9 hours, 46 min. ago
USD/JPY is expected to trade in a higher range. It is underpinned by the positive USD sentiment (ICE spot dollar index last 85.82 versus 85.75 early Thursday) after four-week moving average for U.S. jobless claims fell 3,000 to 281,000 in week ended October 18, its lowest level since May 2000. USD/JPY is also supported by the higher U.S. Treasury yields (10-year at 2.277% versus 2.230% late Wednesday) and demand from Japan's importers, ultra-loose Bank of Japan's monetary policy and yen-funded carry trades amid positive investor risk appetite (VIX fear gauge eased 7.5% to 16.53) as U.S. stocks rose overnight (S&P 500 closed up 1.23% at 1,950.82).
Ahsan Aslam
2014-10-24 15:23:57 UTC+00 9 hours, 57 min. ago
USD/CHF is expected to consolidate with a bullish bias after hitting a six-day high 0.9559 on Thursday. It is supported by the positive USD sentiment (ICE spot dollar index last 85.82 versus 85.75 early Thursday) after four-week moving average for U.S. jobless claims fell 3,000 to 281,000 on week ended October 18, its lowest level since May 2000. Dovish Swiss National Bank's monetary policy is taken into account as well.
Ahsan Aslam
2014-10-24 15:20:12 UTC+00 10 hours ago
NZD/USD is expected to trade in a lower range. It is undermined by the wider-than-expected New Zealand September trade deficit of NZ$1.35 billion (versus forecast NZ$675 million deficit), positive USD sentiment and Kiwi sales on buoyant AUD/NZD cross.
Ahsan Aslam
2014-10-24 15:16:36 UTC+00 10 hours, 4 min. ago
GBP/JPY is expected to trade in a higher range. It is supported by the improved GBP sentiment and demand from Japan's importers. But GBP/JPY gains are tempered by Japan's export sales and positions adjustment before the weekend.
Hossam Soliman Ali
2014-10-24 14:43:35 UTC+00 10 hours, 37 min. ago
As shown in today's H4 chart, the pair failed again to break the Support level of 173.00 and is still trading between the Support level and below the Resistance level of 173.75.
Hossam Soliman Ali
2014-10-24 14:22:15 UTC+00 10 hours, 58 min. ago
The 4H chart demonstrates that silver is going to take an upward move after its rebound from the Support level at 17.00 and currently is approaching the Resistance level of 17.30 trying to break it through to continue its bullish move
Michael Becker
2014-10-24 14:08:21 UTC+00 11 hours, 12 min. ago
A valid BUY position was previously suggested around the neckline of the bullish Head and Shoulders pattern (price level of 1.2660). On Wednesday, the market expressed quite strong bearish momentum that pushed below the lower limit of the channel. The bears have successfully pushed towards price zone of 1.2600-1.2620 (projection target of the double-top pattern). As anticipated, around this price zone, bullish recovery was expressed.
Michael Becker
2014-10-24 13:48:43 UTC+00 11 hours, 32 min. ago
The GBP/USD pair remains trapped between the backside of the channel (1.6020 ) and the price level of 1.6140. Breakout in either direction is necessary to take a position in the same direction of breakout. Until then, risky traders can take a BUY entry around 1.6010-1.6020. Stop Loss should be located below 1.5980.
Petar Jacimoviс
2014-10-24 12:14:20 UTC+00 13 hours, 6 min. ago
Potential end of a bearish corrective phase (ABCD). Be careful with mid-term selling EUR/NZD since we may see futher bullish movement. We got resistance level at the price of 1.6235. Be careful when selling and watch for potential buying opportunities after retracement.
Petar Jacimoviс
2014-10-24 11:53:44 UTC+00 13 hours, 27 min. ago
Our Fibonacci retracement 38.2% at the price of 1,227.00 is on the test. If the price breaks the level of 1,227.00, we may see testing the level of 1,210.00 (Fibonacci retracement 61.8%). Anyway, if we see larger reaction from buyers, bullish continuaiton phase will be possible.
Mourad El Keddani
2014-10-24 10:52:24 UTC+00 14 hours, 28 min. ago
The GBP/USD pair is still moving between 1.6025 and 1.6122. So, we expect a large range about 97 pips in the future. The breakout seen at the ratio of 50% Fibonacci retracement level (the triple top in H1 chart) for the key level is set at the level of 1.6199 because it represents strong resistance and it coincides with the 50% Fibonacci retracement level and another strong resistance is set at the ratio of 38.2% Fibonacci retracement level around the spot of 1.6122. As it is known, history will probably repeat itself at this level again. Therefore, it will be a good sign to sell below 1.6122 with the first target of 1.6020.
Mourad El Keddani
2014-10-24 10:38:32 UTC+00 14 hours, 42 min. ago
The price of EUR/USD pair is going to move between 1.2630 and 1.2770. The level of 1.2605 is going to form the double bottom in H1 chart. Also, it should be noted that the market was very stable and trend was also quite clear (upward) this week. So, we expect a bullish market today from the area of 1.2603/1.2630. Therefore, buy above the level of 1.2603/1.2630 (these levels are representing the weekly supports) with the first target of 1.2682, it might resume to 1.2750 in coming hours in order to test the weekly resistance one. However, the stop loss should be always be taken into account. Therefore, it will be very useful to set your stop loss at the price of 1.2665 (blow the supports).
Sebastian Seliga
2014-10-24 09:21:32 UTC+00 15 hours, 59 min. ago
Not much has changed since yesterday as the market is currently in sub-cycle corrective mode and only a clear, sustained breakout below the level of 1.1183 would invalidate the bullish outlook for this pair. The key level resistance still has not been violated and the market is trading inside the golden corrective channel: very overlapping and choppy price action might indicate even more complex corrective cycle in wave 2 purple, but currently there is not much proof of that.
Sebastian Seliga
2014-10-24 09:09:22 UTC+00 16 hours, 11 min. ago
After an impulsive breakout above the golden channel yesterday the pair is consolidating gains and more upside is being anticipated as it looks like wave -iii- blue might be developing here. The key level to the upside is still the intraday resistance at the level of 137.00 and as long as the intraday supports at the levels of 136.50 and 136.26 will provide the opportunity to buy, more upside is being anticipated here. Moreover, a break above the level of 137.00 is bullish and the level of 137.87 will be tested sooner or later anyway.
Arief Makmur
2014-10-24 09:03:44 UTC+00 16 hours, 17 min. ago
When the European market opens, some economic news will be released such as GfK German Consumer Climate, Italian Retail Sales m/m, EU Economic Summit, and Belgian NBB Business Climate. The U.S. will release the economic data too such as the New Home Sales. So, amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY TECHNICAL LEVELS: Breakout BUY Level: 1.2711. Strong Resistance
123>Last ›