Category Archives: Forex Technical Analysis

EUR/JPY Gains Threatened by Geopolitical Fears

For the third day in a row, the EUR/JPY is trying to stabilize above the resistance level at 132.00 to support the upward path of the pair. At the beginning of Tuesday’s trades, the pair retreated to 131.78 level before settling again around 132.15. Eurozone inflation data and the German Business Trust index, ZEW, didn’t influence the Euro’s performance. The pair went through corrective path that lasted for 3 sessions after gains pushed it to 133.48 peak during last week’s transactions. The retreat was normal with the […]

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Strong Bearishness for EUR/USD Ahead

The unchanged inflation in the Eurozone, as expected, and the return of the USD strength, is pushing the dollar’s index to 93.51 DXY. This is with continuing with the bearish pressure on the EUR/JPY pushing it to support at 1.1735 before settling around 1.1760 at the time of writing. Corrective moves of the EUR/USD after it gains towards 1.1880 last week, with the return of the USD strength and the absorption of the US inflation data, came below expectations, as there is still a chance to raise […]

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USD/JPY: Trading in Tight Ranges

Since the USD/JPY lost the peak of 113.43, the bearish pressure increased on the pair, and remained stable for two weeks in tight ranges between 111.65 and 112.50, waiting for new catalysts to move in any direction. The pair will be leaning to drop in case it is stable below 112, and the other way around if it is above 114. USD/JPY is trying to avoid breaking below 112 to avoid bearish pressure towards lower levels. The pair faced bearish movement at the beginning of this week […]

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Rate Hike Expectation May Support Pound

In the aftermath of Brexit vote, Bank of England (BOE) had cut the cost of borrowing to a new record low of 0.25% in order to support the economy. At the same time, slumped against other major currencies due to the economic uncertainty. Sterling is currently worth 14% less against the and 10% less against the than before the vote. However, due to the UK’s reliance on imports, the weak Pound increased the cost of importing food, fuel, and raw materials. As a result, living standards are […]

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USD/CHF: Continues To Rise Inside The Clear Daily Rising Wedge

continues to rise inside the clear daily Rising Wedge chart pattern which was previously identified by Autochartist. Autochartist rates the quality of this Rising Wedge at the 4-bar level – which reflects the slow Initial Trend (one bar) and above-average Uniformity and Clarity (both rated at the 6 bar level). USD/CHF is expected to rise further inside this Rising Wedge – in line with the earlier upward reversal from the support zone shown below. As can be seen from the daily USD/CHF chart below, the price recently […]

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EUR/USD: Euro Edges Lower, Markets Eye U.S. Housing Data

The euro continues to have an uneventful week. In the Wednesday session, is trading at 1.1743, down 0.20% on the day. On the release front, there are no major indicators out of the eurozone. Earlier in the day, ECB President Mario spoke at an ECB conference in Frankfurt. Draghi discussed structural reforms in the eurozone economy, but did not address monetary policy. In the US, the focus will be on housing data. Building Permits is expected to slow to 1.25 million, and Housing Starts are forecast to […]

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iFOREX Daily Analysis : October 18 ,2017

The dollar rose to a one-week high against most majors on Tuesday on speculation that U.S. President Donald Trump could nominate a Federal Reserve president who would be more willing to raise interest rates at a faster pace. The dollar was also supported by U.S. two-year Treasury yields hitting nine-year highs on Tuesday. Yields climbed as well on growing expectations that Trump favored Stanford economist John Taylor to head the U.S. central bank. Sterling fell below $1.32 for the first time since last week, after comments by […]

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China’s Communist Party Conference Opens; CAD Jumps

Markets turned their focus on China on Wednesday, as China’s President Xi Jinping welcomed the biggest political event in the country, the Communist Party Congress, which plays a key role in the global economy. Meanwhile, the announcement of NAFTA talks extending to next year gave room for improvement to the and to the Mexican peso. The Chinese President XI Jinping opened the twice-in-a-decade and closed-door Communist Party Congress in Beijing on Wednesday, with investors expecting the leaders of the world’s second-largest economy to announce any policy updates […]

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Robust Industrial Production Renews Support For The USD

The was seen trading stronger on Tuesday as data showed that rose 0.3% on the month. This came after the previous month’s data was revised to show a 0.7% decline. also increased, rising 0.7% on the month marking the largest increase since June 2016. Besides the economic data, the markets were also seen reacting to potential rumors that President Trump might nominate John Taylor, an economist from Stanford as the next chair of the Federal Reserve. In the UK, data showed a 3.0% increase for the month […]

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Aussie Trading Higher In The Morning Session

For the 24 hours to 23:00 GMT, the AUD declined 0.08% against the USD and closed at 0.7842. LME prices declined 0.2% or $17.0/MT to $7046.0/MT. Aluminium prices declined 1.5% or $33.0/MT to $2111.0/MT. In the Asian session, at GMT0300, the pair is trading at 0.7852, with the AUD trading 0.13% higher against the USD from yesterday’s close. Overnight data indicated that Australia’s Westpac leading index rebounded 0.08% on a monthly basis in September. In the prior month, the index had fallen by a revised 0.10%. The […]

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