Category Archives: Forex Technical Analysis

GBP/JPY Poised For Further Drop October 18, 2017

Turned To The Downside The currency pair dropped aggressively in the yesterday’s trading session and seems to heavy to be stopped at this moment. GBP/JPY is trading in the red even if the stock index has managed to reach new highs. The JP225 increased as much as 21392 level, but failed to stay there and has retreated a little. The Nikkei maintains a bullish perspective on the daily chart, a further increase should force the Yen to drop, but the Japanese currency is not impressed by the […]

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Central Bank Chiefs And Politics Driving Currencies

The market is fickle. It has jumped from one candidate to another as the most likely Fed Chair. Until his belated and mild criticism of the President dealing with race issues, economic adviser Gary Cohn was regarded as the most likely successor to Janet Yellen at the head of the Fed. When Cohn fell out of favor, it was seen as a contest between Yellen and former Fed Governor Kevin Warsh. Jerome Powell’s stock rose recently, and there have been reports that Treasury Secretary Mnuchin favors him. […]

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Gold Snaps Six-Day Winning Streak

By: DailyForex.com Gold prices moved lower on Monday as the dollar clawed back some of its recent losses. In economic news, the Federal Reserve Bank of New York reported that manufacturing activity in the region jumped to 30.2 from 24.4 a month earlier. The XAU/USD pair is currently trading at $1294.15, slightly lower than the opening price of $1295.19. Gold has rebounded nearly 2.7% since hitting a two-month low of $1260.51 on October 6. XAU/USD was unable to hold above the strategic $1302-$1300 area and as a […]

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EUR/USD Sideways To Down For 2 Weeks

The daily Forex chart has been in a trading range for 3 months. It therefore has both a reasonable buy setup and a reasonable sell setup. The bulls rallied from a double bottom and a small wedge bottom and are likely to get a small 2nd leg sideways to up. The bears overnight broke below a 3 day bull flag. They want a strong break below the big double bottom because that would trigger a head and shoulders top sell signal. The daily EUR/USD Forex chart broke […]

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USD Is Vulnerable, But It’s Temporary

The can’t manage to continue growing, and the more attempts to rise it makes, the more doubts appear that it can really rise during this particular period of market fluctuations. The has clearly set a course for 1.20 and may resume falling only after reaching this level. The statistics are against the USD so far. The numbers published last week, which were followed with insight, turned out to be weaker than expected and investors lost their interest (that was already very low) to the American currency. For […]

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GBP/USD: Elliott Wave Analysis | Investing.com

Good day traders! Let’s look at . GBP/USD has turned nicely down in the last few days, from above 1.3290/1.3340 resistance area as expected. Current intraday decline is quite sharp and aggressive, so it can be start of a new bearish leg; a fifth wave that can take pair back to 1.3000. 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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EUR/USD Weakens, Eyes Support Zone

weakened further Tuesday and more decline is seen with eyes on its psycho support at 1.1700. Resistance comes in at 1.1800 level with a cut through here opening the door for more upside toward the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 level. Conversely, support lies at the 1.1700 level where a violation will aim at the 1.1650 level. A break of here will aim at the 1.1600 level. Below here will open the door for more […]

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Short Yen Exposure Rises Ahead Of Weekend Election

Short interest for the has picked up in recent weeks for two primary reasons: economic data is rising and Prime Minister Abe appears to be back in the driver’s seat ahead of this weekend’s election. Long Vs. Short Yen Positions Rising Yen Shorts As large-scale quantative easing is one of the pillars to Abenomics, traders have even less reason to expect any sudden policy changes from the Bank of Japan (such as tapering) if the PM is re-elected. Because Japan is one of the few economies to […]

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