something interesting

<  BACK TO Market Analysis

FOREX Tech Targets

EUR/USD: Neutral (since 07 Aug 17, 1.1785): Bearish if NY closing below 1.1680.

While EUR touched a low of 1.1680 yesterday, it rebounded strongly and quickly to end the day well above this level. As highlighted, only a NY closing below 1.1680 would indicate that EUR has moved into a bearish phase. This scenario is not ruled out just yet even though the odds for such a move have diminished considerably. Only a move back above 1.1810 would suggest that the risk of a deeper down-move has eased. 

GBP/USD: Bearish (since 07 Aug 17, 1.3045): Room for extension lower to 1.2775.

Despite the lack of a ‘follow-through’ after the break of the major 1.2850 support (GBP eked out a fresh low of 1.2842), it is too early to expect a short-term low. Only a move back above 1.2970 would indicate that the bearish phase that started last Monday, 07 Aug, (spot at 1.3045) has ended. In the meanwhile, we could see a couple of days of short-term consolidation before the next leg lower even though any decline is expected to encounter solid support at 1.2775. 

AUD/USD: Shift from bearish to NEUTRAL: Immediate upward pressure but 0.7980 expected to offer solid resistance.

The shift from a neutral to bearish stance yesterday was clearly ill-timed and wrong as AUD staged a sudden and sharp recovery and registered the largest single-day gain in 1-month. Despite the outsized gain, we are not convinced that the current strength is a resumption of the longer-term up-trend. That said, the immediate pressure is clearly on the upside but any further up-move is expected to face solid resistance at 0.7980 followed by 0.8010. On the downside, the 0.7806 low seen on Tuesday is acting a key support even though 0.7850 is already a very strong shorter-term support. Positioning wise, those who sold at 0.7850 would have taken a loss of 0.76%. 

NZD/USD: Shift from bearish to NEUTRAL: In a 0.7240/0.7370 range.

The July’s low near 0.7205 remains unthreatened as NZD staged a staged a strong and robust rebound from a low of 0.7224 yesterday. The breach of the stop-loss at 0.7310 indicates that week long bearish phase has ended. The current movement is viewed as the early stages of a consolidation phase even though the immediate bias is for a probe towards the top of the expected 0.7240/0.7370 sideway trading range.  

USD/JPY: Neutral (since 15 Aug 17, 110.10):  In a 109.20/111.05 range.

USD eased off rapidly without testing the top of the expected 109.20/111.05 consolidation range. We continue to hold a neutral stance for now and expect further choppy trading within the range mentioned above.

Source: efxnews.com

EUR/USD: Neutral (since 07 Aug 17, 1.1785): Bearish if NY closing below 1.1680.

While EUR touched a low of 1.1680 yesterday, it rebounded strongly and quickly to end the day well above this level. As highlighted, only a NY closing below 1.1680 would indicate that EUR has moved into a bearish phase. This scenario is not ruled out just yet even though the odds for such a move have diminished considerably. Only a move back above 1.1810 would suggest that the risk of a deeper down-move has eased. 

GBP/USD: Bearish (since 07 Aug 17, 1.3045): Room for extension lower to 1.2775.

Despite the lack of a ‘follow-through’ after the break of the major 1.2850 support (GBP eked out a fresh low of 1.2842), it is too early to expect a short-term low. Only a move back above 1.2970 would indicate that the bearish phase that started last Monday, 07 Aug, (spot at 1.3045) has ended. In the meanwhile, we could see a couple of days of short-term consolidation before the next leg lower even though any decline is expected to encounter solid support at 1.2775. 

AUD/USD: Shift from bearish to NEUTRAL: Immediate upward pressure but 0.7980 expected to offer solid resistance.

The shift from a neutral to bearish stance yesterday was clearly ill-timed and wrong as AUD staged a sudden and sharp recovery and registered the largest single-day gain in 1-month. Despite the outsized gain, we are not convinced that the current strength is a resumption of the longer-term up-trend. That said, the immediate pressure is clearly on the upside but any further up-move is expected to face solid resistance at 0.7980 followed by 0.8010. On the downside, the 0.7806 low seen on Tuesday is acting a key support even though 0.7850 is already a very strong shorter-term support. Positioning wise, those who sold at 0.7850 would have taken a loss of 0.76%. 

NZD/USD: Shift from bearish to NEUTRAL: In a 0.7240/0.7370 range.

The July’s low near 0.7205 remains unthreatened as NZD staged a staged a strong and robust rebound from a low of 0.7224 yesterday. The breach of the stop-loss at 0.7310 indicates that week long bearish phase has ended. The current movement is viewed as the early stages of a consolidation phase even though the immediate bias is for a probe towards the top of the expected 0.7240/0.7370 sideway trading range.  

USD/JPY: Neutral (since 15 Aug 17, 110.10):  In a 109.20/111.05 range.

USD eased off rapidly without testing the top of the expected 109.20/111.05 consolidation range. We continue to hold a neutral stance for now and expect further choppy trading within the range mentioned above.

Source: efxnews.com

lastest Articles

PAMM News
Managed Forex Accounts Daily Results (19.10.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Gold: bulls making a fresh attempt to build on momentum beyond 100-day EMA
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/GBP rebound seen as corrective only – Commerzbank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY Technical Analysis: The cross met support in the 128.30 region. Remains vulnerable
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY clings to strong recovery gains, around mid-112.00s
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Scope for a new visit to 2018 lows at 1.1299
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD struggles near 1-week lows, around 1.3100 handle
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Yuan loses ground after U.S. stops short of calling China a currency manipulator
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD recovers ground and tests 1.1530
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US Dollar Index drops to lows near 95.50
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: The pair looks negative and could re-visit 1.1299
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (17.10.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
USD/JPY Technical Analysis: Greenback bulls looking for a breakout above 112.55 resistance
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY Technical Analysis: Bullish attempts should face initial hurdle at the 200-day SMA at 130.75
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD still points to further consolidation – UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold spikes to fresh session tops, bulls eyeing a sustained move beyond 100-DMA
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD keeps focused on 1.3298 – Commerzbank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (16.10.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Gold holds steady below 2-1/2 month highs, around $1230 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD breaks above 1.3200 on UK jobs
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Wisdom: The key to trading success is emotional discipline
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
USD/CAD stuck in a range below 1.30 handle
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY bulls trying to build on momentum beyond 112.00 handle
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD stays neutral and is seen rangebound near term – UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD climbs back closer to over 1-week tops, comfortable above 0.71 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Spot poised for some consolidation near term. Resistance at 21-day SMA at 1.1616
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/JPY Technical Analysis: Confirms a bearish breakthrough near 4-week old trading range
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY drops to near 1-month low, farther below 112.00 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US Retail Sales to Support Dollar
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD edges higher to 9-day tops above 0.7130 on improved sentiment
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD keeps targeting 1.3298
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY trims early recovery gains, still comfortable above 112.00 handle
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD should push higher
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD rallies seen struggling around 1.1625
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD Technical Analysis: The Sterling is trapped just above 1.3200
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD punches above 1.30 as Canadian dollar sags, CPI next
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD moves higher and approaches 1.1600 ahead of ECB, US CPI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD has the fuel for a rally
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD Technical Analysis: Brexit headlines, firm EMAs keeping the Cable bolstered
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Oil struggles for direction as investors watch Hurricane Michael, weigh Iranian sanctions
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD Technical Analysis: Fails ahead of 200-hour SMA, back below 0.71 mark amid renewed USD buying
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Asia: No currency manipulators
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Emerging economies at risk amid 'complacent' markets
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Sterling weakens as Brexit concerns weigh
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD – Euro under pressure, shrugs off strong German trade surplus
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD hits fresh session lows, around mid-1.3000s
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Why gold prices may have already bottomed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR longs dropped, USD longs remain consolidative
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Fed’s Bullard: Higher US interest rates no longer necessary
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY Technical Analysis: Has eroded a key rising trendline
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FX Week Ahead – Dollar Slows Down After US Jobs Miss
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY Technical Analysis: rolling over in favor of the bears
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD slips below mid-1.1700s, focus remains on FOMC decision
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/GBP Technical Analysis: Consolidating last week’s gains below 0.9000 figure - Bulls can come back soon
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD Technical Analysis: Retreats from 200-hour SMA/ascending trend channel confluence hurdle
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US: Strong foreign demand of financial assets - RBS
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY Technical Analysis: A test of 133.50 stays on the cards
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CHF stays offered below 0.9789 – Commerzbank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD seen testing 1.1850 in the short-term – UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD fades a spike to 0.7305 – 3-week tops
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD Technical Analysis: bulls looking for one more run at 1.33
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD should find initial support at 1.1624
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY Technical Analysis: Door open for a test of 132.00 and above
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD still neutral, likely to consolidate near term
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US: Inflationary impact of Chinese tariffs to be modest - TDS
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP futures: up move seen running out of steam
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY positive view unchanged above 110.76 – Commerzbank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD Technical Analysis: holding into bullish pressure despite risk flows
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY Technical Analysis: Still targets the 200-day SMA at 131.11
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Riksbank Minutes amongst market movers today
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD Technical Analysis: Bears waiting near 1.31
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Trade Tensions Return as US Tariffs on China Lift Dollar
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY Technical Analysis: A test of July’s tops beyond 132.00 gains further traction
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR futures: rising odds for extra gains
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD climbs to fresh 6-week tops, further beyond 1.3100 handle
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY aims for extra gains while above 111.35
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD keeps the tight range above 1.1600 post-ECB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD still expected to test 1.13170 – UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB and BoE to be the key event today – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD stays bullish above 1.2997/30
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD fails once again above 1.1600, US PPI eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD neutral although a test of lower levels remains on the cards – UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY trades with modest losses, around mid-111.00s
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY Technical Analysis: Short-term bias still bullish but momentum eases
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY Technical Analysis: Bulls eager to break above 112.00 figure
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Oil rises as U.S. sanctions on Iran squeeze supply
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Wisdom: Good traders liquidate when they are wrong, great traders reverse when they are wrong
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Sterling surges on hopes for Brexit deal, yen dips on chipmaker deal
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: sees risk-recovery in Asia, UK earnings in spotlight
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (10.09.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
USD/CHF Technical Analysis: Swissy trapped in ranges
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Sterling edges up after biggest weekly drop in a month
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Quote: On losing-Pig Insider
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Dollar edges higher on trade tensions, Swedish crown rises after vote
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX Tech Targets 10.09.2018: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Market Events Ahead
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX WEEK AHEAD : Trade Tensions and Strong US Employment Lift Dollar
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
USD/JPY Technical Analysis: Bulls trying to regain control, eyeing a move beyond 100/200-hour SMA
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Quote: systems and tendencies-Eckhardt
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png