Forex Analysis
Mohamed Samy
2014-09-01 15:50:12 UTC+00 5 hours, 9 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 1.6735. On the other hand, the next bearish destination is located around 1.6460 in case the bears keep developing such bearish momentum. (The price level of 1.6460 corresponds to a prominent bottom on the daily chart).
Mohamed Samy
2014-09-01 15:45:27 UTC+00 5 hours, 14 min. ago
A valid SELL position was suggested at retesting which took place last week. Initial bearish target is located around 1.0825 then 1.0770 (considerable Intraday support) . 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 (on the daily chart) with its projection target located at 1.0770.
Michael Becker
2014-09-01 15:36:06 UTC+00 5 hours, 23 min. ago
Through the previous two weeks, the GBP/USD pair declined again towards 1.6660 and 1.6550. If the current daily candlestick closes outside the current steep bearish channel (above price level of 1.6600), there will be higher incidence of reversal towards 1.6670 initially. On the other hand, the next DEMAND level to meet the pair is located around 1.6470-1.6460 where a previous bottom was established in March.
Michael Becker
2014-09-01 15:35:54 UTC+00 5 hours, 23 min. ago
The short-term bearish trend remains intact as long as the bears keep defending the price zone of 1.3420-1.3450. In case the bears keep applying significant bearish pressure, the EUR/USD pair has Intraday DEMAND zone located between 1.3200 - 1.3150 respectively (Fibonacci Expansion Levels). The pair has been trading between these levels during the previous week. However, daily closure should be considered to determine if the current breakdown will persist or a corrective move towards 1.3300 will take place.
Petar Jacimoviс
2014-09-01 13:37:14 UTC+00 7 hours, 22 min. ago
Fibonacci retracement 38.2% at the price of 1.5710 is broken, so be careful when buying EUR/NZD. Watch for potential selling opportunities. According to the previous price action we got support level at the price of 1.5615 (swing high like support).
Petar Jacimoviс
2014-09-01 13:24:42 UTC+00 7 hours, 35 min. ago
Weak demand on the market, so be careful when buying Gold. We can observe rejection from our Fibonacci retracement 38.2% at the price of 1,292.00. Watch for potential selling opportunities.
Mourad El Keddani
2014-09-01 11:40:15 UTC+00 9 hours, 19 min. ago
According to the previous events, the price of the GBP/USD pair has still been trapped between the levels of 1.6630 and 1.6582. When buying above 1.6582 (the weekly pivot point) with the first target of 1.6628 (resistance 1), it can resume to 1.6658 to test the weekly resistance 2. Below 1.6660 (161.8% of Fibonacci retracement levels) look for further downside with the 1.6634 and 1.6582 targets.
Mourad El Keddani
2014-09-01 11:17:15 UTC+00 9 hours, 42 min. ago
According to the previous events, the price of the EUR/USD pair has still been moving between the levels of 1.3110 and 1.3150. Moreover, it should be noted that the market was quite stable and the trend was also clear (downward), but the range was not very large around 89 pips last week. Additionally, the value of 38.2% Fibonacci retracement levels is 1.3165 (the weekly pivot point is set at the price of 1.3161). So, the key level of 1.3161 is presented for a downtrend to confirm a bearish market. This level will act as strong resistance because it coincides with the weekly pivot point on the first of September, 2014. Therefore, sell deals are recommended below the 1.3161 level
Torben Melsted
2014-09-01 08:53:40 UTC+00 12 hours, 6 min. ago
The more complex correction is unfolding as expected. We are still looking for a decline closer to 1.5589 before the upside pressure is expected to take over again.
Torben Melsted
2014-09-01 08:44:20 UTC+00 12 hours, 15 min. ago
The sight is still locked on the 134.34 target as long as minor resistance at 137.29 protects the upside.
Alexandros Yfantis
2014-09-01 08:22:58 UTC+00 12 hours, 36 min. ago
The Dollar index tested our critical support at 82.40 on Friday and made a strong reversal above the 82.54 resistance level. The new high at 82.80 shows that Dollar remains in a strong up trend that could reach 83.
Alexandros Yfantis
2014-09-01 08:13:01 UTC+00 12 hours, 46 min. ago
Gold price has held above support and continues to make higher lows. Three higher lows so far have brought Gold price in the 4 hour chart inside the Ichimoku cloud area keeping bullish hopes alive. Our target remains $1,350.
Joseph Wind
2014-09-01 04:33:33 UTC+00 16 hours, 26 min. ago
The pair came outside from an 8-week trading range. The pair has weekly support at the 172.35 level. On a weekly basis, the pair has the nearest strong resistance at 172.90.
Joseph Wind
2014-09-01 02:55:10 UTC+00 18 hours, 4 min. ago
On the down side, it has support at 136.59, 136.41 and 136.36. We recommend selling below 136.36 for an immediate target between 136.20-136.17, breaking below this at the 135.85 and 135.70 levels.
Arief Makmur
2014-09-01 01:26:04 UTC+00 19 hours, 33 min. ago
When the European market opens, some important news are expected in the economic calendar.
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