something interesting

<  BACK TO Market Analysis

FOREX Tech Targets

FOREX_Technical-analysis-daily-tech-targets_FXPIG

EUR/USD: Neutral (since 05 Jun 18, 1.1700): Underlying tone has improved further but too early to expect a sustained up-move.

We highlighted yesterday (05 Jul, 1.1660) that we detected an improvement in the underlying tone and the near-term bias is for EUR to “test the top end of the expected 1.1570/1.1750 consolidation range”. EUR subsequently hit an overnight high 1.1720 and despite the pull-back from the top, the underlying tone has improved further. In other words, while the bigger picture still suggests the current outlook for EUR is neutral, there is scope for a move to 1.1750 within the next few days. That said, it is too early to expect a sustained up-move and the next resistance at 1.1790 is unlikely to come into the picture for now. On the downside, only a move back 1.1620 would indicate that the current mild upward bias has eased.

GBP/USD: Neutral (since 25 Jun, spot at 1.3265): GBP has moved into a consolidation phase and is expected to trade sideways. No change in view.We have held the same view since Monday (02 Jul, spot at 1.3200) wherein GBP has likely moved into a consolidation phase and is expected to trade sideways within a 1.3100/1.3280 range. After testing the bottom of the range with a low of 1.3095 during NY hours on Monday, GBP has rebounded and the improved undertone suggests that it is ready to test the top of the range at 1.3280. At this stage, a clear break above this rather strong resistance seems unlikely. That said, if GBP can break and hold above this level, it would be a good indication that a move towards 1.3400 has started.

AUD/USD: Neutral (since 05 Jul 18, 0.7380): AUD has moved into a consolidation phase.

We just turned neutral yesterday (05 Jul, spot at 0.7380) and there is no change to the view. As indicated, the current movement is viewed as the early stages of a consolidation phase and AUD is expected to trade sideways for now, likely within a 0.7320/0.7450 range.

NZD/USD: Shift from bearish to NEUTRAL: NZD has moved into a consolidation phase.

NZD just edged above the 0.6800 ‘stop-loss’ at the time of writing (high of 0.6802) and the bearish phase that started last week has ended. NZD has likely made a short-term low at 0.6688 on Tuesday (03 Jul) and the current movement is viewed as the start of consolidation phase. Near-term, the bias is tilted to the upside but any NZD strength is viewed as part of a 0.6730/0.6850 sideway trading range and not the start of a sustained up-move.

Source:efxdata.com

EUR/USD: Neutral (since 05 Jun 18, 1.1700): Underlying tone has improved further but too early to expect a sustained up-move.

We highlighted yesterday (05 Jul, 1.1660) that we detected an improvement in the underlying tone and the near-term bias is for EUR to “test the top end of the expected 1.1570/1.1750 consolidation range”. EUR subsequently hit an overnight high 1.1720 and despite the pull-back from the top, the underlying tone has improved further. In other words, while the bigger picture still suggests the current outlook for EUR is neutral, there is scope for a move to 1.1750 within the next few days. That said, it is too early to expect a sustained up-move and the next resistance at 1.1790 is unlikely to come into the picture for now. On the downside, only a move back 1.1620 would indicate that the current mild upward bias has eased.

GBP/USD: Neutral (since 25 Jun, spot at 1.3265): GBP has moved into a consolidation phase and is expected to trade sideways. No change in view.We have held the same view since Monday (02 Jul, spot at 1.3200) wherein GBP has likely moved into a consolidation phase and is expected to trade sideways within a 1.3100/1.3280 range. After testing the bottom of the range with a low of 1.3095 during NY hours on Monday, GBP has rebounded and the improved undertone suggests that it is ready to test the top of the range at 1.3280. At this stage, a clear break above this rather strong resistance seems unlikely. That said, if GBP can break and hold above this level, it would be a good indication that a move towards 1.3400 has started.

AUD/USD: Neutral (since 05 Jul 18, 0.7380): AUD has moved into a consolidation phase.

We just turned neutral yesterday (05 Jul, spot at 0.7380) and there is no change to the view. As indicated, the current movement is viewed as the early stages of a consolidation phase and AUD is expected to trade sideways for now, likely within a 0.7320/0.7450 range.

NZD/USD: Shift from bearish to NEUTRAL: NZD has moved into a consolidation phase.

NZD just edged above the 0.6800 ‘stop-loss’ at the time of writing (high of 0.6802) and the bearish phase that started last week has ended. NZD has likely made a short-term low at 0.6688 on Tuesday (03 Jul) and the current movement is viewed as the start of consolidation phase. Near-term, the bias is tilted to the upside but any NZD strength is viewed as part of a 0.6730/0.6850 sideway trading range and not the start of a sustained up-move.

Source:efxdata.com

lastest Articles

PAMM News
Managed Forex Accounts Weekly Results (16-20.07.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Forex Week Ahead: Dollar Rally Ends With Trump Monetary Policy and Currency War Comments
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (20.07.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
GBP futures: probable consolidation near term
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Canada: Inflation Hit Six-Year-Plus High
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
JPY: Upcoming BoJ meeting likely to have negative impact - Nomura
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Quote: The Trading Genius Was Previously an Idiot - PIG INSIDER
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
The Times: UK to warn public every week over 'no-deal Brexit' - Reuters
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
CNY: Taking a beating - Rabobank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (19.07.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
EUR/JPY Technical Analysis: stays downside corrective after failing at the 200-day SMA near 132.00.
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD – Canadian dollar slides on soft employment report
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold tumbles, poised for lowest close in more than year as dollar, rates rise
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Quote: Markets Can Remain Irrational - PIG INSIDER
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
AUD/USD hammered down mid-0.7300s, closer to over 2-week lows
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FTSE 100 holds steady as traders focus on retail sales data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar higher after Powell deflects trade concerns
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Quote: Never Depend on Single Income -Warren Buffett
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
China’s ForeignMin: Trade war is the biggest 'confidence killer' for the global economy
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Sterling extends its fall as Brexit worries mount
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (17.07.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Dollar index sputters ahead of Fed’s Powell testimony
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
UK: Latest data points to a rebound in Q2 GDP after a lacklustre Q1 - RBS
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Mr. Markets
OK, so what do you Really Think?
https://secure.gravatar.com/avatar/8b0332acc130dc650331fd558f82add2
Market Analysis
EUR/USD recedes from tops near 1.1750 ahead of Powell
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Quote: In your reciepe for success - ED SEYKOTA
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Opinion: Buying gold now would only weigh down your investment portfolio
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar slips ahead of Fed testimony
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (16.07.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Canada: Housing sales figures to be little changed - TDS
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD Technical Analysis: Cable quietly gaining ground currently supported at 1.3250 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
The stock market is about to set a bearish record
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
European stocks slip on China growth concerns, but Deutsche Bank leaps
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Quote: Any Trader Can Take Risk - Pig Insider
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold clings to modest recovery gains, above $1240 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar gains fade on China-EU summit, U.S. data eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Weekly Results (9-13.07.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
FOREX Week Ahead:Trade War and Trump European Trip Boost US Dollar
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (13.07.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
GBP/USD rebounds from near 2-week lows, back closer to 1.3200 handle
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
QE drove JPY from 2012 to 2016 - AmpGFX
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
NZD/USD scope to test 0.6675 – UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
U.S. stock futures on pause with big bank earnings in focus
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Quote:Turnarounds seldom turn - Warren Buffett
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Euro falls as rate expectations, trade tensions boost dollar
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX Tech Targets 13.07.2018: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold eyes $1250 as USD weakness fuels recovery
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (12.07.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Sterling edges up ahead of UK Brexit blueprint
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Trump reaffirms commitment to NATO after strained emergency meeting
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold clings to modest recovery gains ahead of US CPI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Quote: Most things will prove - Pig Insider
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
EUR futures: further downside not ruled out
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoE Credit Conditions Survey Report: Default rates on unsecured lending rose in Q2
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (11.07.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Asian stocks slump after U.S. announces $200 billion in new tariffs on China
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD – Canadian dollar dips, BoC rate decision looms
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
China Govt to state media - keep calm, don't inflame trade row with US - Reuters
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Quote: Person who never made mistake - Pig Insider
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Gold holds weaker near one-week lows, around $1250 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar strengthens against yen, EM rallies as trade fears wane
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX tech targets EUR/USD sidelined around 1.1730 amidst risk-off trade
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (10.07.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold rebounds sharply from 1-week lows; will it sustain?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Trump Today: President says ‘up to the people’ whether Theresa May should be replaced as he praises her rival
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
DAX gains ground as trade tensions ease
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX Tech Targets: 10.07.2018 EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Quote: It was never my thinking - Jesse Livermore
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Dow set to catch its breath after racking up 320-point rally
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Technical Analysis: The recent recovery move already seems to have run out of steam
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (09.07.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
EUR/USD: bulls tire and daily cloud base, (1.1737), under threat
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold tries for best levels in 2 weeks after the dollar’s recent retreat
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD plummets to lows near 1.3240 as B.Johnson resigns
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD heading back towards 1.3300 amid UK political woes
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Quote: The truth - Wisdom of the Pig
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Dollar sags after soft U.S. wages data, Brexit woes weigh on pound
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREXTech Targets 09.07.2018: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Weekly Results(2-6.07.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Forex Week Ahead: Trade Uncertainty Hits Dollar’s Confidence
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (06.07.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
AUD/USD fades the NFP-led spike, returns to 0.7420 area
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY turns red near 110.50 as US Dollar slips on mixed employment data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold lower but clings to weekly gain ahead of payrolls and wage snapshot
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Sterling braces for May's crunch Brexit meeting
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Quote: Success Has To Do - Ed Seykota
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
EUR/USD sticks to gains near 1.1715 ahead of US NFP
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX Tech Targets 26.07.2018: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (05.07.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Sterling lifted by BOE comments but Brexit meeting curbs gains
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY retreats from session highs, returns to mid-110s on weaker USD
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold tries to edge higher as dollar slips
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD eases from over 1-week high, back below mid-1.3200s after Carney
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Quote: Cut Your Losses - Livermore
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
EUR/USD consolidates gains near 1.1685 ahead of US ADP, Fed minutes
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX Tech Targets 05.07.2018: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (04.07.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
USD/CAD – Canadian dollar quiet, investors eye FOMC minutes
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
China: Ready for trade war and currency battle – Nordea Markets
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD flirting with lows, below mid-1.1600s
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613