Category Archives: Forex Technical Analysis

GBP/USD: Bottomed At Our Buying Opportunity And Support At 1.3410/00

bottomed exactly at our buying opportunity and support at 1.3410/00 as expected. Try longs with stops below 1.3370. A break lower however is a sell signal and holding below 1.3390 targets 1.3335/30, perhaps as far as a buying opportunity at 1.3260/50. Holding 1.3410/00 as hoped allows a recovery to 1.3465/69 then first resistance at 1.3500/10 and probably the best chance of a high for the day. Try shorts with stops above 1.3540. A break higher however meets only very minor resistance at 1.3560/65 so above here is […]

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Gold Reverses Gain, Targets Further Weakness

: The commodity closed lower after reversing its Monday gains on Tuesday. This saw it following through lower during early trading on Wednesday. On the downside, support comes in at the 1,280.00 level where a break will turn attention to the 1,270.00 level. Further down, a cut through here will open the door for a move lower towards the 1,260.00 level. Below here if seen could trigger further downside pressure targeting the 1,250.00 level. Conversely, resistance resides at the 1,300.00 level where a break will aim at […]

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EUR/USD 100 Pip Bounce Soon

The daily chart had a strong breakout below the neck line of a head and shoulders top. Furthermore, yesterday was a strong follow-through bear bar. This makes a test of the August 17 major higher low likely. So far, today is a 3rd consecutive bear day. The odds are that the bears will get at least a small 2nd leg down from this 3 day bear breakout. The bulls will probably need at least a micro double bottom before they can reverse the selloff. The bears broke […]

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GBP/AUD: 5th Wave | Investing.com

Currently we are at 1.7088 in a 5th wave and the USDX is positive. Technically, the 5th wave could be completed but the pair is showing no sign of being over yet. We are looking to continue initially to the R7 Resistance and top at 1.7153 which might be the head of a head and shoulders pattern. A continuation here, look to the R8 at 1.7410. The average daily true range (ATR) for currently is 188 pips. Source link

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AUD/USD: Bounce Should Be Short Lived, First Resistance At 7920/25

bounce should be short lived with first resistance at 7920/25. On further gains look for a selling opportunity at 7935/40, with stops above 7965. The pair are expected to target the next buying opportunity at 7825/15 eventually this week. A low for the correction is very likely here. Try longs with stops below 7785. An unexpected break lower however targets 7750 and 7730. Source link

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Has A Sentiment Extreme On DXY Been Seen?

It’s no secret the has had a dreadful year, but bulls have tried to defy the gravity of 2017 by pushing the USD Index (DXY) to a four-week high. The Fed have played a part here, via confirmation of quantative tightening and the revival of December hopes. And comments from Lady Yellen, who’s still on side of a ‘gradual rate rise’ along with outflows following Germany’s election helped provide another boost for the flailing dollar. The sands for USD could be shiftingDespite DXY’s best efforts to do […]

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AUD/USD Intensifies The Declines | Investing.com

Hit New Downside Target The currency pair dropped further and reached another target, we’ll see how will react now because a rejection will send the rate higher in the upcoming days. Technically, it should drop much deeper in the upcoming period, so the bias remains bearish. AUD/USD resumed the bearish momentum as the USDX stays higher and tries to approach the 93.30 yesterday’s high. The closed the yesterday’s session right above the 93.00 psychological level, signaling that the bulls are strong on the short term. USDX has […]

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EUR/USD Bears Target 1.1605, Does Not Change Bullish Long-Term Outlook

bears target 1.1605, but it does not change bullish long-term outlook Macroeconomic overview: said the Federal Reserve needs to continue gradual rate hikes despite broad uncertainty about the path of inflation. It is possible, Yellen said, that the Fed may have “misspecified” its models for inflation, and “misjudged” key facts like the underlying strength of the labor market and whether inflation expectations are as stable as they seem, and central bankers need to remain open to that possibility as they decide on policy. Still, recent low inflation […]

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Aussie Dollar Trading Lower In The Morning Session

For the 24 hours to 23:00 GMT, the AUD declined 0.68% against the USD and closed at 0.7883. LME prices rose 0.1% or $7.0/MT to $6423.0/MT. Aluminium prices declined 0.6% or $12.0/MT to $2116.0/MT. In the Asian session, at GMT0300, the pair is trading at 0.7874, with the AUD trading 0.11% lower against the USD from yesterday’s close. Earlier today, in China, Australia’s largest trading partner, industrial profits registered a rise of 24.0% on an annual basis in August, following a gain of 16.5% in the previous […]

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