Category Archives: Forex Technical Analysis

Financial Markets Weekly Overview, Trade List For October 23 – 29

We make up a weekly medium-term trade list based on CFTC reports and technical analysis. The table below provides a description of the technical condition of the market on the most popular financial instruments, as well as information on the large speculators’ actions according to the last COT reports and the previous period. If you want to use CFTC reports in your trading practice, you should understand that for an objective assessment of the situation it’s not enough to know the data of the last report. The […]

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Forex Speculators Reduced USD Bearish Positions For 3rd Week

US Dollar COT Large Speculators Sentiment Vs UUP ETF net speculator positions leveled at $-12.65 billion this week The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large traders and currency speculators cut back on bearish bets of the US dollar again this week. Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar net position totaling $-12.65 billion as of Tuesday October 17th, according to the latest […]

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CAD/JPY Perks Up Ahead Of Japanese Election

A build-up of short bets on the Yen and the net-long positioning on CAD has helped reduce the volatility of CAD/JPY’s decline in recent weeks. With Japan’s election just around the corner and an expectation of an Abe victory, sentiment on JPY remains bearish. And with the consensus view being for another BOC hike in Q2 2018, could be of interest over the coming weeks if all goes to plan. Canadian Dollar/Japanese Yen The weekly chart presented a series of higher swing lows as it headed for […]

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Dollar Soars On Tax-Reform Plans, More Gains Likely

By Kathy Lien, Managing Director of FX Strategy for BK Asset Management. The ended the week sharply higher after previous uncertainties never manifested. President Trump has yet to select his next Fed chair although appears to be the most likely candidate. At the same time, the tensions between North Korea and the U.S. did not escalate. Does this mean that the risks have gone away? Certainly not. However the lack of fresh developments on either fronts coupled with the significant progress made on tax reform helped the […]

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USD/CAD Technicals: 10-20-2017 | Investing.com

Improving Data Bullish For Canadian Dollar Recent positive data suggest Canadian economy performs better than expected. Will the continue recent slide? Recent positive data support the view of further monetary tightening as Canadian economy performs better than expected. Manufacturing sales recorded 1.6% growth in August from a 2.6% decline in July, beating expectations of negative 0.3%. Employment rose in September, the tenth month of job gains in a row. And September inflation report is due today at 14:30 CET: a rise in headline inflation to 1.7% from […]

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Gold Rise as Dollar Weakens

By: DailyForex.com Gold prices rose for the first time in four sessions and settled at $1289.76 an ounce as a softer dollar lent some support to the precious metal. XAU/USD traded as high as $1291.06 after the bulls pushed prices above the $1284-$1282 zone. Currently the market is in the process of testing this area as a support. Prices are moving within the borders of the Ichimoku clouds on the daily and the 4-hourly charts, suggesting that the market is looking for a direction. The Tenkan-sen (nine-period […]

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EUR/USD Recovers, Eyes Further Bull Pressure Towards 1.1879 Region

: With the pair seen following through on the back of its Wednesday gains on Thursday, more strength is expected in the days ahead. Resistance comes in at 1.1850 level with a cut through here opening the door for more upside towards the 1.1900 level. Further up, resistance lies at the 1.1950 level where a break will expose the 1.2000 level. Its daily RSI is bullish and pointing higher suggesting more strength. Conversely, support lies at the 1.1750 level where a violation will aim at the 1.1700 […]

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USD/JPY Eyes Pullback | Investing.com

is showing reversal signs. After the rally from 107 to 113.50, price has stopped right at the trend-line resistance from previous highs. At the same time, the RSI has hit its own trend-line resistance and reversed in previous cases as well. With indicators pointing that the 2nd high we made today around 113.15 is a failed attempt for new highs, the chances that a new downward move has started have increased. A rejection here will be a bearish sign. Oscillators justify a pull back at least toward […]

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Euro Trading Lower In The Asian Session

For the 24 hours to 23:00 GMT, the EUR rose 0.43% against the USD and closed at 1.1847, despite political upheaval in Spain after the Spanish government threatened to suspend Catalonia’s autonomy and take control as the region’s leader, Carles Puigdemont, refused to abandon a push for independence. Macroeconomic data released in the US showed that first time claims for the US unemployment benefits dropped to a level of 222.0K in the week ended 14 October, hitting its lowest level since March 1973, thus pointing to a […]

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Daily Currency Outlook: GPB/JPY And EUR/JPY : October 20,2017

Daily Outlook Daily Pivots: (S1) 147.39; (P) 148.41; (R1) 149.10; GBP/JPY is still bounded in consolidation from 146.92 temporary low. Intraday bias remains neutral first and outlook is unchanged. With 149.73 minor resistance intact, deeper decline is still expected. Below 146.92 will target 61.8% retracement of 139.29 to 152.82 at 144.45. Such decline is seen as a correction and we’d look for strong support from 144.45 to bring rebound. On the upside, break of 149.73 support turned resistance will argue that the pull back is completed and […]

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