Forex Analysis
Mohamed Samy
2014-08-01 15:57:39 UTC+00 10 hours, 27 min. ago
Price levels around 1.6820 remains the nearest support level to meet the pair as it corresponds to the previous significant top established in February 2014. Price action should be watched around 1.6820 to consider the next destination of the GBP/USD currency pair whether bullish recovery would originate off these levels or not. Daily closure of the current candlestick should be considered.
Mohamed Samy
2014-08-01 15:53:43 UTC+00 10 hours, 31 min. ago
The price zone around 1.0940 (50% Fibonacci Level ) remains the nearest resistance level that comes to meet the pair. Bearish rejection may be anticipated at retesting especially after such a long bullish rally off 1.0710. On the other hand, the price level of 1.0775 remains the nearest support to meet the pair where a valid BUY entry may be taken with Stop Loss below 1.0715.
Ahsan Aslam
2014-08-01 15:26:14 UTC+00 10 hours, 58 min. ago
NZD/USD is expected to consolidate. NZD/USD is undermined by the increasing risk aversion, the positive dollar sentiment, weak dairy prices and continued impact from Reserve Bank of New Zealand Gov. Wheeler's comment last week that the Kiwi's strength is "unjustified and unsustainable" and hint of a pause in the RBNZ's rate-tightening cycle.
Ahsan Aslam
2014-08-01 15:21:32 UTC+00 11 hours, 3 min. ago
USD/CHF is expected to trade in a lower rande. Financial markets in Switzerland were shut today for the bank holiday. USD/CHF is supported by the positive dollar sentiment and dovish Swiss National Bank's monetary policy. But USD/CHF upside is limited by the flows to haven CHF amid increasing risk aversion, franc demand on soft EUR/CHF cross and positions adjustment before the weekend.
Ahsan Aslam
2014-08-01 15:20:50 UTC+00 11 hours, 3 min. ago
USD/JPY is expected to consolidate with risks skewed lower. USD/JPY is undermined by selling of yen crosses amid increasing risk aversion (VIX fear gauge surged 27.16% to 16.95, S&P 500 tumbled 2.0% to close at 1,930.67 overnight) amid worries that interest rates might rise sooner than expected after Wednesday's strong U.S. 2Q GDP report, fears of contagion on emerging markets from Argentina's debt default.
Ahsan Aslam
2014-08-01 15:15:27 UTC+00 11 hours, 9 min. ago
GBP/JPY is expected to consolidate with a bearish bias. GBP/JPY is undermined by the increased risk aversion and Japan's export sales. But GBP/JPY losses are tempered by the demand from Japan's importers and positions adjustment before the weekend.
Torben Melsted
2014-08-01 11:25:10 UTC+00 14 hours, 59 min. ago
Look for a new strong rally in wave iii towards 1.5900
Torben Melsted
2014-08-01 11:17:05 UTC+00 15 hours, 7 min. ago
Red wave iv to 138.05 is still unfolding
Alexandros Yfantis
2014-08-01 08:45:51 UTC+00 17 hours, 38 min. ago
The Dollar index remains in a bullish trend and moves closer to my target of 81.75.
Alexandros Yfantis
2014-08-01 08:39:40 UTC+00 17 hours, 45 min. ago
The Gold price has broken support levels yesterday and the bullish short-term scenario was canceled. Our preferred bearish view remains supported by the bearish trend the market is in.
Sebastian Seliga
2014-08-01 08:07:59 UTC+00 18 hours, 16 min. ago
Not much has changed in this pair since yesterday as green wave (iv) is still developing. When the corrective cycle is completed, one more wave to the upside is needed to finish the higher degree cycle. Breakout below the intraday support at the level of 137.33 invalidates this view.
Sebastian Seliga
2014-08-01 07:57:41 UTC+00 18 hours, 27 min. ago
The outlook has been adjusted slightly to black wave iv correction but the overall scenario hasn't been changed. The market has made another marginal high in black wave v. Now, the anticipated bigger corrective cycle should begin. This view is supported by the multiple bearish divergence that has been formed on the momentum oscillator. Breakout below the intraday support at the level of 1.0878 is the first confirmation, that top for green wave (v) is in place.
Mourad El Keddani
2014-08-01 07:50:59 UTC+00 18 hours, 33 min. ago
The price of the GBP/USD pair has been not stable because the trend has been moving downwards from the price of 1.6940 in H4 chart. Additionally, the pair is going to be trapped between 1.6940 and 1.6851. Furthermore, it should be noted that the resistance has already set at the price of 1.6940 and the support is placed at 1.6851 (minor support on August 1, 2014). As a result, the GBP/USD pair is likely to start showing the signs of the bearish market at the level of 1.6940 because the market will indicate a bearish opportunity at the spot of 1.6940, so the level will be acting as strong resistance today.
Mourad El Keddani
2014-08-01 07:37:21 UTC+00 18 hours, 47 min. ago
The support of the EUR/USD pair has already set at 1.3330 on August 14, 2014. Furthermore, it will be very profitable to buy above this level for retesting this level in the short term. Therefore, buy deals are recommended above the weekly support with targets at 1.3433 (the level of 1.3838 is representing the daily pivot point) and 1.3460 to reach the double top. On the contrary, the resistance is going to set at the level of 1.3460 today. Consequently, the descending movement will probably be lower than the 1.3460 level with the targets at 1.3333 and it is going to drop towards the double bottom around the price of 1.3295 in the daily chart.
Joseph Wind
2014-08-01 05:14:22 UTC+00 21 hour, 10 min. ago
The price has support at 97.35 (March 17, low). The price made a minor double bottom at 97.64. As of now, in today's Asia's session the price held the previous day low and is trading at 98.
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