Category Archives: Forex Technical Analysis

Daily Currency Outlook: GPB/JPY And EUR/JPY : December 14,2017

Daily Outlook Daily Pivots: (S1) 150.44; (P) 150.97; (R1) 151.49; GBP/JPY’s corrective fall from 153.39 is still in progress and intraday bias remains neutral. As long as 149.74 support holds, outlook remains bullish in the cross. Break of 153.39 will resume the medium term up trend and target 61.8% projection of 139.29 to 152.82 from 146.96 at 155.32. However, break of 149.74 will dampen our bullish view and turn bias back to the downside for 146.96 key support instead. In the bigger picture, current development suggests that […]

More info

AUD/JPY: Expected To Rise To Forecast Price 87.10

continues to rise after the earlier breakout of the Triangle chart pattern which was recently identified by Autochartist on the 4-hour charts. Autochartist rates the quality of this Triangle at the 7-bar level – which reflects the slow Initial Trend (2 bars) and significant Uniformity and Clarity (both rated at the 7 bar level). AUD/JPY is expected to rise to the forecast price 87.10 – in line with the earlier breakout of the resistance area shown below. As can be seen from the daily AUD/JPY chart below, […]

More info

USD Slips As Fed Hikes Rates

The much anticipated FOMC meeting concluded yesterday with the Federal Reserve hiking by 25 basis points. At the meeting, the central bank’s projection for rate hikes next year was in line with market expectations. The Fed projected three rate hikes for 2018 and two rate hikes for 2019. The rate hike yesterday saw two dissenting votes from Evans and Kashkari. In the UK, the monthly labor market data showed that the UK’s was unchanged at 4.1% but wage growth continued to remain weak in comparison to the […]

More info

EUR/USD: Get Long For 1.2155

: Fed raised interest rates, but kept policy outlook unchanged Macroeconomic overview: The Federal Reserve raised by a quarter of a percentage point on Wednesday, as anticipated, but left its rate outlook for the coming years unchanged even as policymakers projected a short-term acceleration in U.S. economic growth. Having raised its benchmark overnight lending rate three times this year, the Fed projected three more hikes in each of 2018 and 2019 before a long-run level of 2.8% is reached. That is unchanged from the last round of […]

More info

Bullish Trends: EUR/USD And USD/TRY

The pair has been on the rise all of 2017 and is showing several signs of bullish momentum that are expected to continue through 2018. /Price has exceeded 2016’s high of $1.16 by breaking out of the 2-year consolidation channel and is showing an uptrend as well as a bullish flag on the monthly chart. With the euro area experiencing growth in revenues, firming economic activity, and stabilized employment, expect further recovery in euro-based assets in 2018. Price targets are $1.20 followed by $1.30. has also been […]

More info

Australian Jobs Growth Surged, Unemployment Rate Unchanged In November

For the 24 hours to 23:00 GMT, the AUD rose 1.01% against the USD and closed at 0.7632. LME prices rose 1.1% or $71.0/MT to $6685.0/MT. Aluminium prices declined 0.4% or $7.0/MT to $1997.0/MT. In the Asian session, at GMT0400, the pair is trading at 0.7668, with the AUD trading 0.47% higher against the USD from yesterday’s close, after Australia’s seasonally adjusted unemployment rate remained steady at a five-year low of 5.4% in November, meeting market expectations. Moreover, the number of people employed in Australia jumped more-than-anticipated […]

More info

AUD/USD Higher As Expected; NZD/USD Tops At 7025/35

AUD/USD And NZD/USD Weekly Chart higher as expected to top just 6 pips from very strong resistance at 7645/55. Overbought short term so profit taking is possible (but shorts are too risky) to 7610/05 before strong support at 7585/75. Watch for a low for the day. Stop below 7550 and look for a buying opportunity down to 7500/7490 again – stops below 7460. A break lower is a sell signal targeting 7420/10 and 7380/70. Bulls will struggle in the 7650/90 area but eventually a break higher is […]

More info

USD/JPY Outlook Negative; EUR/JPY: Shorts May Be Risky Now

USD/JPY And EUR/JPY Weekly Chart tops just below the most important 2.5 year downward sloping trend line at 114.05/20. Unfortunately we missed the selling opportunity by 30 pips but the pair are lower as expected to all targets as far as 112.66/62. Outlook negative with resistance at 113.00/10 likely to hold a rally. Stop above 113.40. Sell again if we get anywhere near 113.70/114.00. A break below 112.30 is expected eventually, for a negative signal targeting 112.05/00 and support at 111.90/70. longs at the best support for […]

More info

USD Tanks On Fed: Next Up? ECB And BoE

By Kathy Lien, Managing Director of FX Strategy for BK Asset Management. The Federal Reserve raised interest rates by 25bp Wednesday and instead of rising, the sold off aggressively against all of the major currencies. In , we talked about how the dollar could fall with a rate hike but in actuality, it wasn’t the economic projections or the dot-plot forecast that took the dollar down. Instead, it was Janet Yellen’s concerns about low inflation, which she feels could be more ingrained than temporary and the 2 […]

More info
1 2 3 4 5 130