something interesting

<  BACK TO Market Analysis

Forex Tech Targets

FOREX_Forex-technical-analysis_FXPIG

EUR/USD: Neutral (since 06 Feb 18, 1.2375): EUR strength unlikely to be sustained.

EUR edged above the January’s 1.2536 top last Friday but slumped after briefly touching a high of 1.2555. The rally from late last week appears to be running ahead of itself and we are not convinced that the up-move can be sustained. The neutral phase that started more than a week is still intact and we view the current movement as part of a broad 1.2320/1.2555 consolidation range. Looking further ahead, EUR has to ‘punch’ clearly above 1.2555 in order to suggest that it has enough momentum to continue to march higher in the coming days and weeks. At this stage, the odds for such a move are not high.

GBP/USD: Neutral (since 30 Jan 18, 1.4075): Still neutral; likely back in consolidation mode.

While we highlighted last week that it is “premature to expect the start of a major bearish reversal”, the sharp recovery that rose to a high of 1.4145 on Friday was unexpected. The rapid up-move appears to be running ahead of itself even though a move above 1.4145 would not be surprising. That said, a sustained move 1.4200 is not expected for now. To put it another way, the neutral phase that started about 3 weeks ago is still intact and the price action since then is viewed as part of a rather broad consolidation phase that could last for a while more. On a shorter-term note, GBP is expected to trade sideways to slightly higher, likely within a 1.3920/1.4200 range.

AUD/USD: Neutral (since 15 Feb 18, 0.7925): In a consolidation phase.

AUD moved into a neutral phase when it broke above 0.7920 in the middle of last week. A short-term low is in place and AUD has likely moved into a consolidation phase and is expected to trade sideways for now, likely within a 0.7820/0.8020 range.

NZD/USD:  Neutral (since 05 Feb 18, 0.7280): Shift to bullish if NY closing is above 0.7435/40.

The strong surge that started in the middle of last week tested the January’s peak of 0.7437 last Friday but failed to break through (exact high of 0.7437 on Friday). While upward momentum has improved considerably, only a NY closing above 0.7435/40 would indicate that a move towards 0.7500 (and possibly beyond) has started. The odds for such a move are not high at this stage but would continue to improve as long as the key 0.7310 support is not taken out in the next few days.

USD/JPY:  Bearish (since 14 Feb 18, 107.80): Severely oversold but room for extension to 105.00.

The outlook for USD shifted to bearish last week when it broke below the key 108.00 support. The decline since then has been impulsive as USD touched a low of 105.52 on Friday. The down-move is severely oversold but there is room for further extension to 105.00. Only a move back above 107.30 would indicate that a short-term low is in place.

Source:efxdata.com

EUR/USD: Neutral (since 06 Feb 18, 1.2375): EUR strength unlikely to be sustained.

EUR edged above the January’s 1.2536 top last Friday but slumped after briefly touching a high of 1.2555. The rally from late last week appears to be running ahead of itself and we are not convinced that the up-move can be sustained. The neutral phase that started more than a week is still intact and we view the current movement as part of a broad 1.2320/1.2555 consolidation range. Looking further ahead, EUR has to ‘punch’ clearly above 1.2555 in order to suggest that it has enough momentum to continue to march higher in the coming days and weeks. At this stage, the odds for such a move are not high.

GBP/USD: Neutral (since 30 Jan 18, 1.4075): Still neutral; likely back in consolidation mode.

While we highlighted last week that it is “premature to expect the start of a major bearish reversal”, the sharp recovery that rose to a high of 1.4145 on Friday was unexpected. The rapid up-move appears to be running ahead of itself even though a move above 1.4145 would not be surprising. That said, a sustained move 1.4200 is not expected for now. To put it another way, the neutral phase that started about 3 weeks ago is still intact and the price action since then is viewed as part of a rather broad consolidation phase that could last for a while more. On a shorter-term note, GBP is expected to trade sideways to slightly higher, likely within a 1.3920/1.4200 range.

AUD/USD: Neutral (since 15 Feb 18, 0.7925): In a consolidation phase.

AUD moved into a neutral phase when it broke above 0.7920 in the middle of last week. A short-term low is in place and AUD has likely moved into a consolidation phase and is expected to trade sideways for now, likely within a 0.7820/0.8020 range.

NZD/USD:  Neutral (since 05 Feb 18, 0.7280): Shift to bullish if NY closing is above 0.7435/40.

The strong surge that started in the middle of last week tested the January’s peak of 0.7437 last Friday but failed to break through (exact high of 0.7437 on Friday). While upward momentum has improved considerably, only a NY closing above 0.7435/40 would indicate that a move towards 0.7500 (and possibly beyond) has started. The odds for such a move are not high at this stage but would continue to improve as long as the key 0.7310 support is not taken out in the next few days.

USD/JPY:  Bearish (since 14 Feb 18, 107.80): Severely oversold but room for extension to 105.00.

The outlook for USD shifted to bearish last week when it broke below the key 108.00 support. The decline since then has been impulsive as USD touched a low of 105.52 on Friday. The down-move is severely oversold but there is room for further extension to 105.00. Only a move back above 107.30 would indicate that a short-term low is in place.

Source:efxdata.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