Category Archives: Forex Technical Analysis

Yen Slides As US Retail Sales Beat

has jumped higher in Tuesday’s North America session. In North American trade, the pair is trading at 110.78, up 1.04% on the day. On the release front, Japanese revised rebounded with a strong gain of 2.2%, beating the forecast of 1.6%. In the US, came in at 0.6%, above the estimate of 0.4%. also looked sharp, with the gain of 0.5% beating the forecast of 0.3%. There was more good news from the manufacturing sector, as the soared to 25.2, crushing the estimate of 10.1 points. On […]

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Elliott Wave Analysis: GBPUSD Intra-day Fall

is unfolding a strong and sharp bearish movement away from former wave 2) correction at the 1.3031 level, which suggests that a higher degree wave 3) can be in progress. That said we know that wave 3) is an impulse, which consist out of five sub-waves, meaning more weakness is expected to follow on the pair. Ideally current sub-wave 3 of three will extend its gains towards the Fibonacci ratio of 261.8, before a new temporary pullback into the following wave 4 shows up. GBPUSD, 30Min Disclosure: […]

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EUR/USD Eyeing A Crucial Break

Looks Exhausted The EUR/USD is trading in the red and extends the yesterday’s sell-off as the USDX looks determined to take out the 93.81 static resistance. The pair drops after the failure to retest a dynamic resistance, but we need a confirmation that will start another leg lower. The current drop could be only temporary if the US data will disappoint later. Is trading above a critical support, only a valid breakdown will confirm a further drop in the upcoming period. Right now it is consolidating and […]

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USD/CAD Flat Top Ascending Triangle Uptrend

Flat Top Ascending Triangle Uptrend USD/CAD Flat Top Ascending Triangle Uptrend The USD/CAD has been in a steady uptrend. The price has formed an ascending flat top triangle that suggest an uptrend continuation. But the price has already reached the W H4 camarilla pivot so bulls need to be careful. If the pair breaks 1.2760 then 1.2805 will be possible. If there is no breakout to the upside then a retracement towards the POC 1.2700-15 (50.0, D L3, ascending triangle trend line, EMA89) will be possible. New […]

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Markets Up After North Korean Tensions Ease, Oil Drops On Demand And Sup

We saw markets react positively and risk sentiment changed. This comes as tensions surrounding North Korea eased after North Korean leader Kim Jong Un said no attack on Guam is imminent, even though the plans are ready, even if he will watch the next actions of the US and as such that it depends on the US how things move forward from now. This statement is likely to be enough for both President Trump and Kim Jong Un to climb down the tree and lessen tensions, at […]

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iFOREX Daily Analysis : August 15 ,2017

The dollar rose against a most major currencies on Monday, as geopolitical insecurity eased between the U.S. and North Korea, while positive Japanese economic data raised sentiment on risky assets. Oil futures settled lower on Monday, as data showed a reduction in demand from China and concerns over still rising production by OPEC countries. After hitting a two-months high in the previous week, the gold price fell, as geopolitical tensions eased after U.S. officials tried to play down the risk of a military conflict with North Korea. […]

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Daily Currency Outlook: GPB/JPY And EUR/JPY : August 15,2017

Daily Outlook Daily Pivots: (S1) 141.66; (P) 142.19; (R1) 142.68; GBP/JPY recovers further today but stays below 144.01 support turned resistance. Intraday bias remains neutral with bearish near term outlook. Below 141.24 will extend the fall from 147.76 to 138.65 support and below. As GBP/JPY is seen as staying in consolidation pattern from 148.42, we’d expect strong support from 135.58 to contain downside. On the upside, break of 144.01 will indicate completion of the decline from 147.76 and turn bias back to the upside. In the bigger […]

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GBP/USD Testing Daily 50-EMA Ahead Of UK Inflation Report

entered the 5th consolidation session touching 50-EMA at 1.2960 support and closing above. On the daily chart, we can notice that 10-EMA has crossed below 20-EMA at 1.3035, and the cable has failed to surge above 1.3030 for the past five sessions. ( Yellow is 20-EMA – Black is 10-EMA – Blue is 50-EMA – Orange is 100-EMA) Currently the pair is trading at 1.2958 and in case GBP/USD closed below 50-EMA, then next destination will be 100-EMA at 1.2860+ which could take different sessions to be […]

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No Way Jose | Investing.com

We normally spend a lot of time calculating and agonizing over Texas production, and got several hoo-hahs and worse over our estimate of 8.8 Mb. Post-report, the yield deniers for Texas cotton sound a lot like those in Chicago over the grain yields. Maybe there is optimism built into yields for the Aug report, but if it is, the numbers wont change much unless Mother Nature deals us a wild card during harvest. Even if TX yield at 741 #/a slips a bit, other states such as […]

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Trading Support and Resistance | DailyForex

By: DailyForex.com This week we’ll begin with our monthly and weekly forecasts of the currency pairs worth watching. The first part of our forecast is based upon our research of the past 16 years of Forex prices, which show that the following methodologies have all produced profitable results: Let’s take a look at the relevant data of currency price changes and interest rates to date, which we compiled using a trade-weighted index of the major global currencies: Monthly Forecast August 2017 For the month of August, we […]

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