Forex Analysis
Mohamed Samy
2014-08-29 15:40:13 UTC+00 1 day, 16 hours, 33 min. ago
Price action action should be watched today for a possible BUY entry upon bullish breakout of the current channel depicted on the 4H chart. Projection targets are roughly located at 1.6660 and 1.6705. On the other hand, the next bearish destination is located around 1.6460 in case the bears keep developing such bearish momentum. (Price level of 1.6460 corresponds to a prominent bottom on the daily chart).
Mohamed Samy
2014-08-29 15:38:23 UTC+00 1 day, 16 hours, 34 min. ago
The EUR/AUD pair has been moving within the depicted RED channel in an attempt to reach the lower limit located roughly around 1.3880. However, the current prices being tested correspond to a prominent bottom (since November 2013). There's a high probability of bullish recovery to be witnessed around there. Note that failure of the bulls to provide enough buying pressure at the current levels, will probably expose 1.3900-1.3860 to be re-tested.
Mohamed Samy
2014-08-29 15:37:26 UTC+00 1 day, 16 hours, 35 min. ago
A valid SELL position was suggested at retesting which took place this week. Initial bearish target is located around 1.0825. Conservative traders should wait for higher entry levels to be retested especially around 1.0880-1.0900. Daily closure below price zone of 1.0870-1.0850 confirms a long-term double-top pattern with its projection target located at 1.0770.
Michael Becker
2014-08-29 15:33:56 UTC+00 1 day, 16 hours, 39 min. ago
The GBP/USD pair has been downtrending for almost 20 days without significant correction. However, bullish correction is expected to happen as long as the reversal pattern remains valid. Thus, any bullish fixation above 1.6600 hinders the current steep trend allowing the reversal pattern to hit its projection target at 1.6650-1.6670 initially.
Michael Becker
2014-08-29 15:33:15 UTC+00 1 day, 16 hours, 40 min. ago
The pair has been trading between these levels since Monday. However, daily closure should be considered to determine if the current breakdown will persist or a corrective move towards 1.3300 will take place. Bullish fixation above 1.3285 is essential to acquire a momentum strong enough to initiate a bullish corrective move towards 1.3340 and 1.3410 as well.
Harsh Japee
2014-08-29 13:55:36 UTC+00 1 day, 18 hours, 17 min. ago
Technical analysis and trading recommendations on GBP/CHF for August 29, 2014. The GBP/CHF pair has been stalling at the 1.5200 resistance level for a few trading sessions now.
Harsh Japee
2014-08-29 13:41:02 UTC+00 1 day, 18 hours, 32 min. ago
Technical analysis and trading analysis of Silver for August 29, 2014. Silver has pulled back lower after printing highs at the $19.90 level yesterday. Rally is expected to resume.
Harsh Japee
2014-08-29 13:27:08 UTC+00 1 day, 18 hours, 46 min. ago
Technical analysis and trading recommendations on Gold for August 29, 2014. Gold should continue pushing higher towards $1305.00 and further in the sessions to come.
Hossam Soliman Ali
2014-08-29 13:03:37 UTC+00 1 day, 19 hours, 9 min. ago
As shown in the H4 chart, the pair has failed more than once to break the support level of 172.00 and is still trading above it since yesterday.
Sebastian Seliga
2014-08-29 12:56:41 UTC+00 1 day, 19 hours, 16 min. ago
Not much has changed in this pair since yesterday as the consolidation area is still being maintained. Only a clear breakout above the level of 1.0868 would change the intraday bias to the bullish side. Please, notice the increasing bullish divergence is building on the momentum oscillator. At the moment, there is no clear direction bias, so patience is needed now.
Sebastian Seliga
2014-08-29 12:49:39 UTC+00 1 day, 19 hours, 23 min. ago
Unfortunately, there is something else going on than a simple downward impulsive wave development. It looks like the corrective cycle is going to be more complex and time-consuming. Due to invalidation of several important rules, the current count has been updated and the bearish impulsive count has been cancelled. According to the new labeling, the are chances that after the downside failure the higher prices will be seen as the corrective cycle is not completed. The current labeling is WXY brown complex triple three structure in red wave 2 and there is one more wave to the upside missing to complete the correction.
Petar Jacimoviс
2014-08-29 11:31:17 UTC+00 1 day, 20 hours, 42 min. ago
Fibonacci retracement 38.2% at the price of 1.5710 is on the test. If the price breaks the level of 1.5710, we may see potential testing the level of 1.5600. Be careful when buying EUR/NZD and watch for potential selling opportunities.
Petar Jacimoviс
2014-08-29 11:21:18 UTC+00 1 day, 20 hours, 52 min. ago
We can observe absorption volume in the background according to the 1H time frame, which is a sign that buying Gold looks risky. Watch for potential selling opportunities. The second major down station is still at the price of 1,260.00 (Fibonacci expansion 100%).
Torben Melsted
2014-08-29 09:49:00 UTC+00 1 day, 22 hours, 24 min. ago
With the break below 1.5692 a more complex correction is unfolding. We do not think the downside potential is overwhelming. But as long as resistance at 1.5767 protects the upside, we could see a decline to 1.5589 before this correction is over
Mourad El Keddani
2014-08-29 09:43:55 UTC+00 1 day, 22 hours, 29 min. ago
According to the previous events, the price of GBP/USD is going to move between the levels of 1.6635 and 1.6640. The prices of 1.6635 and 1.6640 are going to form resistance and support respectively. Also, it should be noticed that the price of 1.6538 will form a triple bottom today. So, buy above the level of 1.6538 which represents the triple bottom in H1 chart with the first target at 1.6615. Then, the trend will be able to continue towards the level of 1.6635. Notwithstanding, the stop loss should be set at 1.6513. The level of 1.6635 represents strong resistance.
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