Forex Analysis
Arief Makmur
2015-03-02 04:11:21 UTC+00 3 hours, 2 min. ago
When the European market opens, some economic news will be released such as Unemployment Rate, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Quarterly Unemployment Rate, Italian Monthly Unemployment Rate, Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI.
Arief Makmur
2015-03-02 04:10:14 UTC+00 3 hours, 3 min. ago
In Asia, Japan will release the Final Manufacturing PMI and Capital Spending q/q.
Joseph Wind
2015-03-02 04:04:08 UTC+00 3 hours, 10 min. ago
The yen is trading lower against the euro and higher against the pound sterling ahead of major key economic events.
Petar Jacimoviс
2015-02-27 14:48:06 UTC+00 2 days, 16 hours, 26 min. ago
We can observe weak supply on the market around the price of 1.4830. Our Fibonacci expansion 100% at the price of 1.4865 is on the test, so be careful when selling EUR/NZD at this stage. My advice is to watch for potential buying opportunities on the dips.
Petar Jacimoviс
2015-02-27 14:36:14 UTC+00 2 days, 16 hours, 37 min. ago
We can observe a sideways market around the price of $1,210.00. According to a 30-minute time frame, we got a selling climax in the background and an absorption volume, which is a sign that selling gold looks risky. My advice is to watch for potential buying opportunities on the lows.
Mohamed Samy
2015-02-27 11:58:21 UTC+00 2 days, 19 hours, 15 min. ago
On February 5, initial bullish breakout above 1.5220 took place. Shortly after, a new DAILY support was established around 1.5170-1.5200 (ascending bottoms, a sign of ongoing bullish momentum). Since then, the GBP/USD pair has been trending upwards within the depicted H4 channel. Persistence of the pair above the recent DAILY support (the price zone of 1.5170-1.5200) applied extensive bullish pressure over the price level of 1.5360 (61.8% Fibonacci level on the H4 chart), which did not provide enough RESISTANCE. The long-term projection target for the recent bullish breakout above 1.5220 is located around 1.5500-1.5550 where the previous DAILY bottoms are located (DAILY RESISTANCE).
Mohamed Samy
2015-02-27 11:53:37 UTC+00 2 days, 19 hours, 20 min. ago
The price level of 1.4800 corresponds to the 61.8% Fibonacci level of the recent bearish swing. Around it a DOUBLE-TOP bearish reversal pattern was expressed. Confirmation of the reversal pattern required DAILY fixation below the price level of 1.4500, which corresponds to the most recent bottom. This has already occurred on Wednesday. If the current daily closure persists below 1.4500, initial projection target would be located around 1.4300 and then 1.4270 where the lower limit of the newly-established H4 channel is located.
Mohamed Samy
2015-02-27 11:48:49 UTC+00 2 days, 19 hours, 25 min. ago
The nearest SUPPORT level to meet the USD/CAD pair is located around 1.2300 (79.6% Fibonacci level). Note that the USD/CAD bulls have been defending the recent INTRADAY SUPPORT around 1.2300 (broken 79.6% Fibonacci Level). The market has not retested the newly-established DAILY SUPPORT around 1.2000 yet. Note that successive lower highs are being established on the DAILY chart.
Michael Becker
2015-02-27 11:40:39 UTC+00 2 days, 19 hours, 33 min. ago
Conservative traders were suggested to wait for a bullish pullback looking for better prices to SELL the EUR/USD pair off (R1 at 1.1550 and R2 at 1.1700). However, the EUR/USD bulls did not not show enough bullish momentum to reach these levels. Instead, a bearish Flag pattern was established on the daily chart. DAILY fixation below the price level of 1.1260 (recent bottom) confirmed this bearish pattern. Risky traders could benefit from DAILY breakdown of 1.1260 (recent DEMAND level). This probably indicates a quick bearish visit towards the WEEKLY low around 1.1110.
Michael Becker
2015-02-27 11:35:38 UTC+00 2 days, 19 hours, 38 min. ago
Two weeks ago, the ongoing bearish trend was terminated when bullish breakout above 1.5200 took place, as depicted on the chart. Since then, the GBP/USD pair has been trending upwards within the depicted bullish channel. Estimated projection targets are located around 1.5600-1.5640 where the previous consolidation zone was located. However, earlier around 1.5550, the bears have applied significant bearish pressure resulting in the formation of a bearish engulfing daily candlestick without further retesting of 1.5600.
Ahsan Aslam
2015-02-27 11:21:12 UTC+00 2 days, 19 hours, 52 min. ago
USD/JPY is expected to trade in a higher range. The US second estimate GDP for 4Q that is to be released on Friday at 13:30 GMT will be in the spotlight. USD/JPY is underpinned by the positive dollar sentiment, higher US Treasury yields, thanks to stronger-than-expected increase in US January durable goods orders and higher-than-expected U.S. January core CPI that raised odds that the Federal Reserve interest rates hike could come as early as June.
Michael Becker
2015-02-27 11:21:06 UTC+00 2 days, 19 hours, 53 min. ago
Few months ago, the NZD/USD pair established a consolidation zone that extended between the price levels of 1.7620 and 1.7870. On January 20, bears managed to execute a successful breakout below the major DEMAND level at 1.7620. Shortly after, the bears managed to reach a new low around 0.7200 where significant bullish recovery was executed. Recently, the NZD/USD pair managed to break above 0.7430 (key level). This price level has been providing significant SUPPORT for the pair so far.
Ahsan Aslam
2015-02-27 11:17:16 UTC+00 2 days, 19 hours, 56 min. ago
USD/CHF is expected to consolidate with bullish bias after hitting a six-week high of 0.9546 on Thursday. It is underpinned by the positive dollar sentiment, the negative Swiss interest rates and the threat of the Swiss National Bank CHF-selling intervention. But the USD/CHF gains are tempered by the positions adjustment ahead of the weekend.
Ahsan Aslam
2015-02-27 11:13:31 UTC+00 2 days, 20 hours ago
NZD/USD is expected to consolidate in a higher range after hitting a five-week high of 0.7613 on Thursday. It is undermined by the positive dollar sentiment and subdued investor risk appetite, soft commodity prices and 3.8% drop in New Zealand January building consents issued. But the NZD/USD losses are tempered by the kiwi demand on soft AUD/NZD cross and positions adjustment ahead of the weekend.
Ahsan Aslam
2015-02-27 11:07:06 UTC+00 2 days, 20 hours, 7 min. ago
GBP/JPY is expected to trade in a lower range. It is undermined by the weak EUR/USD undertone, diminished investor risk appetite and Japan's exports. But the GBP/JPY losses are tempered by demand from the Japanese importers and positions adjustment ahead of the weekend.
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