Forex Analysis
Ahsan Aslam
2014-12-19 10:37:24 UTC+00 1 hour, 13 min. ago
USD/JPY is expected to consolidate with bullish bias. USD/JPY is supported by the yen-funded carry trades amid positive risk sentiment as investors remained reassured by the Federal Reserve's pledge on Wednesday to be "patient" on raising interest rates, while data out of Germany and the U.K. were upbeat. USD/JPY is also supported by the higher U.S. Treasury yields, positive dollar sentiment, fewer than expected 289,000 U.S. jobless claims for a week ended onDecember 13, demand from Japan's importers and the Bank of Japan's large-scale monetary easing policy.
Ahsan Aslam
2014-12-19 10:30:55 UTC+00 1 hour, 20 min. ago
USD/CHF is expected to consolidate with bullish bias after hitting a two-year-high 0.9848 on Thursday. CHF sentiment was hurt after the Swiss National Bank said on Thursday it would charge a negative interest rate of 0.25% on deposits from January 22 to cool the strength of the Swiss franc. USD/CHF is also supported by positive dollar sentiment and the franc sales on cross trades versus major currencies.
Ahsan Aslam
2014-12-19 10:20:55 UTC+00 1 hour, 30 min. ago
NZD/USD is expected to trade in a higher range. It is supported by the kiwi demand on buoyant NZD/JPY cross amid positive risk sentiment and the kiwi demand on soft AUD/NZD cross and NZD-USD interest differential. But NZD/USD gains are tempered by the positive dollar sentiment (ICE spot dollar index last 89.21 versus 89.07 on early Thursday) on fewer than expected 289,000 U.S. jobless claims for a week ended on December 13 (versus forecast 295,000).
Ahsan Aslam
2014-12-19 10:09:09 UTC+00 1 hour, 42 min. ago
GBP/JPY is expected to consolidate. It is supported by the positive risk sentiment and demand from Japan's importers. But GBP/JPY gains upside are limited by the Japanese export sales, soft EUR/USD undertone and positions adjustment before weekend. GBP sentiment is boosted by stronger than expected 1.6% on month and 6.4% on year increase in the U.K. November retail sales (versus forecast +0.4% on month, +4.5% on year).
Sebastian Seliga
2014-12-19 09:49:28 UTC+00 2 hours, 1 min. ago
The count has been changed a little and now it is indicating a more complex corrective cycle WXY brown in wave 4 purple, where wave Y brown has not been completed yet. The degree of the waves has been raised one step higher and this is why it is taking so long for the market to complete the corrective cycle this time of the year. The level of 1.1670 is acting as a strong intraday resistance level. Despite the fact it has been tested three times, the market still can not break through it. Nevertheless, the most important support is the intraday support at the level of 1.1559 and the dynamic support provided by the golden trend line. In case of any downside breakout, the weekly pivot point at the level of 1.1533 should provide a strong level to bounce from. Please notice that the bias is still bullish and at least one more impulsive wave to the upside should be made sooner or later.
Sebastian Seliga
2014-12-19 09:29:21 UTC+00 2 hours, 21 min. ago
December poor liquidity conditions are present on market and the market is not moving at all. The overall wave development is still consolidating inside of the golden channel, and average daily range is still rather narrow for this pair. The price is still testing the larger time frame support at the level of 145.70; and no decision on the future price movement has been made yet. Nevertheless, the bias is still to the upside, as the wave structure is corrective and there is still a good chance, that the impulsive waves to the upside will unfold soon.
Torben Melsted
2014-12-19 05:41:29 UTC+00 6 hours, 9 min. ago
This sideways correction/consolidation jas just become even more complex than it already where. The failure to hold the break above the resistance line was really disappointing, but the leading expanding diagonal could still be developing as long as support at 1.5705 and more importantly as long as support at 1.5643 protects the downside.
Torben Melsted
2014-12-19 05:35:01 UTC+00 6 hours, 16 min. ago
The expanded flat correction is still unfolding. We expect resistance at 146.76 will protect the upside for a break below support at 145.59 confirming a decline towards 143.81 and maybe even lower to 142.05
Harsh Japee
2014-12-19 04:05:37 UTC+00 7 hours, 45 min. ago
Technical analysis and trading recommendations for EUR/JPY for December 19, 2014. The EUR/JPY pair is seen trading sideways since a couple of trading sessions in a cone format.
Harsh Japee
2014-12-19 03:54:03 UTC+00 7 hours, 57 min. ago
Technical analysis and trading recommendations for GBP/CHF for December 19, 2014. The GBP/CHF pair has raised above 1.5350 levels as expected and discussed earlier.
Harsh Japee
2014-12-19 03:45:35 UTC+00 8 hours, 5 min. ago
Technical analysis and trading recommendations for Silver for December 19, 2014. Silver might have carved out right shoulder for a potential inverted head and shoulder reversal, around $15.50/60.
Arief Makmur
2014-12-19 03:37:59 UTC+00 8 hours, 13 min. ago
In Asia, Japan will release the BOJ Press Conference, All Industries Activity m/m, and Monetary Policy Statement. However, the US will not release any economic data today.
Harsh Japee
2014-12-19 03:36:20 UTC+00 8 hours, 14 min. ago
Technical analysis and trading recommendations for Gold for December 19, 2014. Gold seems to have formed a higher low around $1,183.00 levels and ready to rally towards fresh highs.
Arief Makmur
2014-12-19 03:36:11 UTC+00 8 hours, 15 min. ago
When the European market opens, some economic news will be released such as EU Economic Summit, Current Account, German PPI m/m, and GfK German Consumer Climate.
Felipe Erazo
2014-12-19 02:10:32 UTC+00 9 hours, 40 min. ago
On the H4 chart, the USDX is trying to form a bullish pattern above the support level of 89.05. However, the USDX could conduct a retracement to that level, as this instrument has been quite exhausted due to its bullish momentum in the last hours.
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