Category Archives: Forex Technical Analysis

USD/JPY Weakens On Bear Pressure

With the pair selling off further on Thursday, further bearishness is likely. On the downside, support comes in at the 109.00 level where a break if seen will aim at the 108.50 level. A cut through here will turn focus to the 108.00 level and possibly lower toward the 107.50 level. Its daily RSI is bearish and pointing lower suggesting more weakness. On the upside, resistance resides at the 109.50 level. Further out, we envisage a possible move towards the 110.00 level. Further out, resistance resides at […]

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Korean Tensions Remain , WASDE Reports Drops Agriculturals

The geopolitical situation is continuing to direct the markets with the war of words continuing with a new round of back and forth threats between the US and North Korea. For more background and information, I would refer you to the article I wrote yesterday which can be found here. Currencies – remains trading around the upwards trendline as the USD lost ground after the weaker than expected inflation data which does not bode well for the inflation data of today. If that indeed is also on […]

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GBP/USD Consolidates But Pay Attention To POC

The is consolidating within the rectangle pattern. The consolidation is due to the US at 12:30 GMT. Traders need to pay attention to 1.2992, the X-cross of a trend line and D H3 camarilla pivot. Move above the trend line could possibly spike GBP/USD to POC zone 1.3040-60 (D H5, Rectangle top, ATR projection high, 50.0 fib, Order block) where we might see fresh sellers. The price should reject towards 1.2992 and 1.2940. Only below 1.2940 we should see the continuation towards D H5/ ATR low 1.2910. […]

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Target Trading in the Forex week of August 13th, 2017

Note: Currently is bearish – affects the direction below The August “Pay Your Mortgage Trade Idea” is the What ProAct Forex Target Traders See: We are currently sitting @ 1.1826 after completing a 4th wave. We are looking to continue up in a 5th wave to the 1.270 Fibo @ 1.2028. The average daily true range (ATR) for the pair currently is 84 pips. ————————————————————————– What ProAct Forex Target Traders See: We are currently sitting @ 109.09. We are looking to continue down to the day bottom […]

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EUR/GBP: Retains Broader Uptrend But With Caution

EUR/GBP- The cross faces further consolidation with downside threats after closing on a rejection candle on Friday. Support lies at the 0.9040 level where a violation will turn focus to the 0.9000 level. A break will expose the 0.8950 level. Resistance resides at the 0.9150 level where a violation if seen will turn risk towards the 0.9200 level. Further up, resistance resides at 0.9250 level followed by the 0.9300 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, remains biased to […]

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Bitcoin Pushing Higher | Investing.com

The mainstream media are picking up on ‘s meteoric rise. In an article on CNBC, we read: Bitcoin will likely outperform stocks and bonds the rest of this year, according to the first major Wall Street strategist to issue a report on the digital currency. “I think bitcoin is an underowned asset with potential for huge institutional sponsorship coming,” Fundstrat co-founder Tom Lee said on CNBC’s “Fast Money” Wednesday. “It has a lot of characteristics that are very similar to gold that I think will make it […]

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Australian Dollar And New Zealand Dollar Currency Analysis

We examine the and dollar is this forex based market video focusing on the recent fundamentals and technical of the two currencies against the US dollar. The weakness in the CRB Commodity Index has weighed on these two currencies the last five years. Australia GDP Annual Growth Rate China GDP Annual Growth Rate New Zwaland GDP Annual Growth Rate GDP Annual Growth Rate – The World Bank (2.438 Percent in 2016) and Trending Lower Source link

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Currency Speculators Reduced U.S. Dollar Bets For 7th Week

US Dollar COT Large Speculators Sentiment Vs UUP ETF US Dollar aggregate speculator positions fell to $-10.23 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 continued to push their bets lower for the US dollar this week for a seventh straight week. Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar aggregate position totaling $-10.23 billion as of […]

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Gold Market Update Gold has erased its earlier gains and is trading slightly lower

Por: DailyForex Gold has erased its earlier gains and is trading slightly lower in afternoon U.S. trading. XAU/USD initially tried to break out to the upside however, the anticipated resistance in 1264/2 did kick in and capped the market. Consequently, prices headed south to test the support around the 1250 level and bounced back above 1255. The market is hovering just above the 1255 level at the moment but the short-term charts suggest the upside potential will be limited as long as prices remain below the 4-hourly […]

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