something interesting

<  BACK TO Market Analysis

Forex Tech Targets

Forex-daily-technical-30-01-2018_FXPIG

EUR/USD: Bullish (since 15 Jan 18, 1.2195): Rally taking a pause, EUR to consolidate for the next few days.

While upward momentum is beginning to wane, we continue to view the current movement as part of a short-term consolidation phase and another push higher towards the revised ‘target’ of 1.2570 is not ruled out just yet. That said, EUR has to move higher within the next couple of days or a prolonged consolidation around these level would increase the risk of a top quickly. Conversely, a break of 1.2290  would indicate that the bullish phase that started about two weeks ago (see update on 15 Jan, spot at 1.2195) has ended.

GBP/USD: Shift from bullish to NEUTRAL: GBP has moved into a consolidation phase.

The pull-back from last week’s 1.4346 high went deeper than expected and took out the ‘stop-loss’ level for our bullish view at 1.4030 yesterday (overnight low of 1.4026). The bullish phase that started about 2 weeks ago has ended and last week’s 1.4346 high is deemed as an interim top. In other words, GBP has moved into a consolidation phase and is expected to trade sideways for now, likely within a relatively broad range of 1.3930/1.4200. Looking further ahead, further GBP strength is not ruled out but 1.4346 is acting as a very strong resistance now and this level is unlikely to be challenged, at least not for the next 1 to 2 weeks. 

AUD/USD: Bullish (since 15 Dec 17, 0.7665): Focus is now at the strong and critical level of 0.8165. No change in view. AUD dipped to a low of 0.8005 last Friday before staging a strong rally that cracked the 2017 peak of 0.8125 (high of 0.8136 during NY hours). The sudden sharp ‘boost’ in upward momentum came as a surprise and the focus is now at 0.8165, the minor peak back in May 2015. This is a rather strong and critical resistance and a clear break of this level could lead to further rapid rise towards the 2015 peak of 0.8295. In other words, while the current bullish phase is moving into its sixth week, there appears to be room for further AUD strength and only a break 0.7990 would indicate that a top is in place.

NZD/USD: Bullish (since 14 Dec 17, 0.7015): 0.7435/40 is a high hurdle to overcome. No change in view.We indicated  that a break of 0.7365 would indicate the bullish phase in NZD has scope to extend further towards the Sep 2017 high of 0.7435. NZD took a peek above this level (high of 0.7437) but got slammed down on the back of the weak NZ inflation data. While the bullish phase that started in the mid-Dec is still intact, 0.7435/40 is acting as a very strong resistance now and would be a high hurdle to overcome. That said, a break of this level could open up the way for a move towards the 2017 peak of 0.7557.

USD/JPY: Bearish (since 25 Jan 18, 109.30): Next ‘target’ at 107.30 unlikely to come into the picture so soon. No change in view.Despite hitting a ‘fresh’ low of 108.27 last Friday, downward momentum is not as impulsive as preferred and we continue to hold the view that the next ‘target’ at 107.30 is unlikely to come into the picture so soon. On a shorter-term note, 108.00 is a strong support and this level could hold out for a few more days. In other words, USD could trade sideways at these lower levels first before staging the next ‘leg’ lower towards 107.30. ‘Stop-loss’ for the bearish view is unchanged at 110.30 for now.

Source:efxdata.com

EUR/USD: Bullish (since 15 Jan 18, 1.2195): Rally taking a pause, EUR to consolidate for the next few days.

While upward momentum is beginning to wane, we continue to view the current movement as part of a short-term consolidation phase and another push higher towards the revised ‘target’ of 1.2570 is not ruled out just yet. That said, EUR has to move higher within the next couple of days or a prolonged consolidation around these level would increase the risk of a top quickly. Conversely, a break of 1.2290  would indicate that the bullish phase that started about two weeks ago (see update on 15 Jan, spot at 1.2195) has ended.

GBP/USD: Shift from bullish to NEUTRAL: GBP has moved into a consolidation phase.

The pull-back from last week’s 1.4346 high went deeper than expected and took out the ‘stop-loss’ level for our bullish view at 1.4030 yesterday (overnight low of 1.4026). The bullish phase that started about 2 weeks ago has ended and last week’s 1.4346 high is deemed as an interim top. In other words, GBP has moved into a consolidation phase and is expected to trade sideways for now, likely within a relatively broad range of 1.3930/1.4200. Looking further ahead, further GBP strength is not ruled out but 1.4346 is acting as a very strong resistance now and this level is unlikely to be challenged, at least not for the next 1 to 2 weeks. 

AUD/USD: Bullish (since 15 Dec 17, 0.7665): Focus is now at the strong and critical level of 0.8165. No change in view. AUD dipped to a low of 0.8005 last Friday before staging a strong rally that cracked the 2017 peak of 0.8125 (high of 0.8136 during NY hours). The sudden sharp ‘boost’ in upward momentum came as a surprise and the focus is now at 0.8165, the minor peak back in May 2015. This is a rather strong and critical resistance and a clear break of this level could lead to further rapid rise towards the 2015 peak of 0.8295. In other words, while the current bullish phase is moving into its sixth week, there appears to be room for further AUD strength and only a break 0.7990 would indicate that a top is in place.

NZD/USD: Bullish (since 14 Dec 17, 0.7015): 0.7435/40 is a high hurdle to overcome. No change in view.We indicated  that a break of 0.7365 would indicate the bullish phase in NZD has scope to extend further towards the Sep 2017 high of 0.7435. NZD took a peek above this level (high of 0.7437) but got slammed down on the back of the weak NZ inflation data. While the bullish phase that started in the mid-Dec is still intact, 0.7435/40 is acting as a very strong resistance now and would be a high hurdle to overcome. That said, a break of this level could open up the way for a move towards the 2017 peak of 0.7557.

USD/JPY: Bearish (since 25 Jan 18, 109.30): Next ‘target’ at 107.30 unlikely to come into the picture so soon. No change in view.Despite hitting a ‘fresh’ low of 108.27 last Friday, downward momentum is not as impulsive as preferred and we continue to hold the view that the next ‘target’ at 107.30 is unlikely to come into the picture so soon. On a shorter-term note, 108.00 is a strong support and this level could hold out for a few more days. In other words, USD could trade sideways at these lower levels first before staging the next ‘leg’ lower towards 107.30. ‘Stop-loss’ for the bearish view is unchanged at 110.30 for now.

Source:efxdata.com

lastest Articles

Market Analysis
Forex Week Ahead – Cause for optimism
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead - Stimulus battle continues
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Volatility going nowhere
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Earnings to dominate
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – The final stretch
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Fed Preview: The dollar has room to rise on upbeat projections and the lack of stimulus
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Price Analysis: XAU/USD battles 200-SMA on 4H chart, US stimulus, Fed eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Vaccine, Dollar depressed on vaccine, Brexit and US stimulus hopes, Fed in focus
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Canada: Manufacturing Sales rise by 0.3% to $54.1 billion in October
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD jumps to fresh session tops, further beyond mid-1.3300s
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Gold recovers on US stimulus hopes, dollar off the highs, Brexit, vaccine news eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD trims gains and drops toward 1.2120
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Last full week of 2020 kicks off with Brexit and US stimulus optimism
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Deal or no deal
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: ECB gives a boost to the euro, rally to run towards 2020 high at 1.2177
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Lagarde speech: Euro area economy is seen shrinking in Q4
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dual talks' deadlock weighs on markets ahead of expected ECB stimulus, FDA vaccine seal
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Vaccine deployments, Brexit continue to rule the sentiment
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Rising Sino-American tensions curb vaccine and stimulus enthusiasm, Brexit eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Time for compromise
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar bounces amid vaccine, stimulus concerns ahead of Nonfarm Payrolls
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Nonfarm Payrolls Preview: Another dollar’s disappointment underway
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD jumps to three-month tops, around 1.3440 region
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar remains on the back foot as two hopes clash with two concerns, data eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US Dollar Index Price Analysis: Further decline targets 90.00
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Price Analysis: XAU/USD’s rebound stalls below $1800 ahead of US data, Powell
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: New month, fresh market gains, PMIs, Powell's testimony and Brexit eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB's Lagarde: Fiscal package must not be delayed significantly
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Fakeout at 1.20? Why the euro may suffer a downward correction
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Gold melts, dollar declines, Brexit and OPEC headlines eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – We Go Again
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Five reasons to drag the pair down
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Bearish sign
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
S&P: Major Aussie banks not at risk of downgrade amid pandemic
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: New quarter, same market gloom as coronavirus spreads, critical US data eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar Index: 2008/09 parallels point to sustained USD strength – Westpac
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Crude prices rebound after tapping 18-year low
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD needs to hold onto support at 1.0972 to weather the dollar storm
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Bearish pressure eased
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: King Dollar takes back the reins as coronavirus fears mount, oil slumps; eyes on German CPI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Virus Watch, China data to rebound while the world braces for pain, and why the dollar looks so vulnerable
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Will King Dollar be re-coronated after the plunge? Virus, consumer data, eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Prices Steady Despite Increased Coronavirus Stimulus Hopes
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar dumping extends, US coronavirus cases top China’s; US House vote eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Watching if bulls are able to capitalize the momentum
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Crude Oil Pares Gains As Nervous Market Looks To US Jobless Claims
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: EUR, JPY in the lead after Senate's stamp, ahead of horrible US jobless claims, BOE
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: The picture is improving
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Futures: Upside looks capped
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Senate strikes stimulus, stocks may sell the fact, dollar pressured, coronavirus data eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
S&P 500 futures jump 5% and hit the limit-up band of 2,333.50
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD bulls looking to extend the momentum beyond 1.1700 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD firmer above 1.0800 post-PMIs
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: 35-year uptrend breached – Commerzbank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: New week, same corona carnage, dollar down vs. majors, excels elsewhere, US Senate eye
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week ahead – Tougher times ahead?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold rallies further beyond $1500 mark, fresh session tops
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB’s stimulus package: Lagarde’s “Whatever it Takes” moment – UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar takes a breather, coronavirus claims 10,000 lives, “quadruple witching” eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Canada: BoC to keep the system running – RBC Economics
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Oil: Several OPEC members calling for new action – ANZ
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Euro at Risk Ahead of German IFO Data and SNB Rate Decision
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Crude Oil Futures: Still scope for a rebound… but when?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold slides further below $1500 mark, losing around 2.5% for the day
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Base metals: Sign of weakening demand emerging – ANZ
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Typical dead cat bounce ove
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Prices Slide Again As Coronavirus Prompts Cash Raising
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar dominant as markets bounce after Trump's recession talk, focus on fiscal stimulus
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoJ Governor Kuroda: Possible to deepen negative interest rates further
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Faced rejection near the 1.1200 round-figure mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Fed and BOJ to add more to the punchbowl, Virus disruption, and a fourth week of heightened volatility
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US: Fed to cut 100bps at its next meeting – Deutsche Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB: EUR/USD heading lower as looks for fiscal measures – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold: Wave of selling also hit the yellow metal
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold surrenders early gains, back near $1640 level despite coronavirus-led jitters
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Trump fails to reassure coronavirus-concerned America, stocks down, gold up, ECB eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Euro Analysis Ahead of ECB Rate Decision and Lagarde Outlook
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Price Pullback Fizzles Amid Speculation for More Fed Rate Cuts
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Breaking: GBP/USD tumbles as BOE surprises with 50bp cut to 0.25% ahead of UK budget
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Yen rallies hard as US stimulus doubts, coronavirus fears hit stocks, USD and yields
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD resuming rise amid doubts over US fiscal stimulus
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar dominates after the coronavirus crash amid Trump's tax promises, Chinese hopes
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Global shares plunge in worst day since financial crisis
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Monday mayhem, wild currency moves, Gold fakeout, oil -30%, amid coronavirus panic
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Oil Prices Crash 25% As Oil War Begins
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Company News
Time to Spring Forward
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week ahead – Market volatility here to stay
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
The Fed could cut rates further at the March meeting – UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold remains confined in a range, around $1640
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD flirting with daily highs around 1.1140
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD – Euro Rally May Just Be Getting Started vs US Dollar
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US Pres. Trump: Fed should ease and “cut rate big”
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoE's Tenreyro: Important to highlight that we were not in a rush to raise interest rates
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Coronavirus update: First confirmed case in London, total infections in Iran at 1,501
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY Price Analysis: Upside stalled just ahead of the 200-day SMA
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Central Banks, OPEC + and Governments prepare to cushion the coronavirus impact
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US: Markets not focused on Super Tuesday
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB's Vasiliauskas says extraordinary meeting may be called over coronavirus, EUR/USD off the highs
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Markets in freefall: Carney warns UK faces downgrade over coronavirus – latest updates
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB's Schnabel: Coronavirus increased uncertainty about global growth outlook
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613