Category Archives: Forex Technical Analysis

GBP/AUD: Descending Wedge Break? | Investing.com

www.investing.com/analysis/gbpaud-descending-wedge-break-200208683 GBP/AUD: Descending Wedge Break? By Scott Barkley   |  9 hours ago (Aug 22, 2017 08:39AM ET) Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility […]

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EUR/USD Trading Range, Awaiting Catalyst

The 240 minute Forex chart has been sideways for several weeks. It therefore has both a reasonable sell and buy setup. The breakout will probably reach a 200 pip measured move up or down. The EUR/USD Forex market has been sideways for 3 weeks. It is therefore in breakout mode. While it has a bull flag at the moving average on the daily chart, this pullback is after a buy climax. Furthermore, it is at resistance on the monthly chart. The 240 minute chart is therefore neutral. […]

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GBP/CAD: A Tale Of 2 Consumers

The is on the rise again on Tuesday after retail sales released for June surpassed expectations, at least on a , and continued the positive trend of the last couple of years. The data comes at a time when the Bank of Canada is considering again having embarked on a new cycle of tightening last month. The data came at a time when the pound was already coming under renewed pressure making one of the worst performing pairs on the day. Not only that, a major support […]

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Bitcoin Stalls | Investing.com

The fact that Bitcoin has recently hit an all-time high has already fueled wild speculation in the market and we are now seeing increased interest in the currency. The mainstream media are now full of articles on the meteoric rise of , , and the prospects of cryptocurrencies. In an article on Bloomberg, we read: It seems like everyone is coming up with a price forecast these days, with some of the biggest banks including Goldman Sachs Group Inc (NYSE:). jumping into the action, while speculators to […]

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GBP/USD Extends Losses | Investing.com

Earlier today, the British pound extended losses against the greenback, which pushed to a fresh multi-month low. How low could the exchange rate go in the coming days? Looking at the charts, we see that although EUR/USD moved a bit lower, the exchange rate is still trading around 38.2% Fibonacci retracement and the 112.8% Fibonacci extension. Nevertheless, the pair closed the previous week above the retracement and invalidated the earlier tiny breakdown under this support. Earlier this month, we saw a similar situation, which suggests that one […]

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Elliott Wave Analysis: GBP/USD Intra-day View

is unfolding a strong drop away from previous wave 4) correction. We see current weakness as wave 5) in the making, that is expected to continue towards the Fibonacci ratios of 161.8 or to 200.0 in sessions ahead. That said, we know that nothing moves in straight lines, meaning some temporary consolidations can pop up during the process. GBP/USD, 30 Min Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only. Source link

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Daily Technical Report : August 22,2017

Daily Outlook Daily Pivots: (S1) 140.14; (P) 140.49; (R1) 140.89; With 143.18 minor resistance intact, fall from 147.76 is still progress for 138.65 support first. Break there will extend the decline to 135.58 key support level. At this point, price actions from 148.42 are seen as a sideway consolidation pattern. Hence, we’ll expect strong support from 135.58 to contain downside and bring rebound. Nonetheless, break of 143.18 resistance is needed to indicate short term bottoming first. Otherwise, near term outlook will remain bearish in case of recovery. […]

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EUR/USD Upside Paused | Investing.com

Changed Little The EUR/USD has decreased a little in the morning as the USDX has managed to rebound. The currency pair maintains a bullish perspective on the daily chart, but we may have a minor consolidation before will resume the upside movement. Needs to recapture more directional energy to be able to climb above the 1.1909 previous high. USD has dragged the pair lower, but this could be only temporary as the is expected to drop deeper on the short term. The USDX stays above the 93.00 […]

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Cable Retains Bearishness Ahead Of Jackson Hole

Key Points: Cable retains a bearish directional bias Price action remains trapped below 50 and 100 Day EMA’s Pair likely to remain under pressure in the week ahead The continued to move lower last week as the pair was caught on the wrong side of the wave of sentiment swinging towards the greenback. Subsequently, early in the week saw a relatively rapid fall for the cable, as the pair was dealt a blow from a -0.1% UK result, and this commenced a slide which saw it close […]

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Gold prices were higher U.S. trading – Gold Market Update

By: DailyForex Gold prices were higher U.S. trading Monday as stocks deepened their losses. Last week, the Dow Jones Industrial Average had posted its biggest decline in three months. The U.S. dollar index is lower in afternoon trading. XAU/USD initially tested the support around the 1280 level before heading higher. The bulls still have the overall technical advantage, with the market trading above the Ichimoku clouds on all time frames (except the monthly chart). However, on top of us there is an anticipated resistance zone that stretches […]

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