Category Archives: Forex Technical Analysis

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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Gold Gains as Geopolitical Jitters Persist

Gold prices rose $12.97 an ounce on Monday as rising tensions between North Korea and the United States prompted investors to seek shelter in safe-haven assets. XAU/USD was able to cleanly break through the resistance in the $1302-$1298 area after North Korea’s foreign minister Ri Yong Ho called President Donald Trump’s latest comments a declaration of war. Recently, the market has been fixated on the Federal Reserve as well. The prospect of a December rate hike dragged prices down to $1288 level last week. Yesterday’s price action […]

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Elliott Wave Analysis: NZD/USD Intra-Day Weakness

Good day traders! Today’s focus is on . NZD/USD had extended weakness during Asian trading hours, which can be wave iii) headed south for 0.7190 region. Here is a nice downtrend with lower lows and lower swing highs from 0.7435, so we stay bearish for now. So If anyone remained short since last week, then keep an eye on that 0.7295 short term invalidation level. NZD/USD, 1H Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is […]

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