something interesting

<  BACK TO Market Analysis

FOREX Tech Targets

Forex_Tech-Tragets-31-10-2017_FXPIG

EUR/USD: Bearish (since 27 Oct 17, 1.1605): Scope for extension to 1.1530.

There is not much to add as we just shifted from a neutral to bearish stance last Friday (see Chart of the Day update). As highlighted, despite the large decline post-ECB, there is scope for extension to 1.1530. That said, any further weakness would likely be at a slower pace and 1.1530 is expected to offer solid support. 

GBP/USD: Neutral (since 11 Oct 17, 1.3205): Short-term weakness to extend lower to 1.3025/30.

There is not much to add as we continue to hold the view that the short-term weakness in GBP could extend lower and test the major 1.3025/30 support. At this stage, the prospect for a clear break below this level is not high but would continue to improve unless GBP can move and stay above 1.3240.

AUD/USD: Bearish (since 26 Oct 17, 0.7705): Another down-leg towards 0.7560 is not ruled out but odds are not high.

The 0.7630 target that was first highlighted last Thursday was exceeded as AUD dipped to a low 0.7625 during NY hours on Friday. Downward momentum has eased somewhat with the rapid rebound from the low but it is too early to expect a short-term bottom. The outlook for AUD is deemed as bearish until 0.7735 is taken out. Until then, another down-leg towards 0.7560 is not ruled out even though the odds for such a move are not that high. 

NZD/USD: Bearish (since 19 Oct 17, 0.7030): Focus on 0.6750 now.

NZD exceeded the revised target at 0.6820 before rebounding quickly. Despite the ‘mild breach’ of 0.6820 (low of 0.6818), the focus has shifted to 0.6750. However, in order to maintain the current momentum (amidst oversold conditions), NZD has to move and stay below 0.6820 within these 1 to 2 days or the prospect for further weakness would diminish quickly. On the upside, only a move above 0.6905 would indicate that a short-term low is in place.

USD/JPY: Bullish (since 19 Oct 17, 112.95): USD has to break 114.50 relatively soon.

While we have maintained a bullish view on USD, we highlighted in recent updates that “114.50 is a major level and is expected to offer solid resistance”. USD touched a high of 114.44 last Friday but retreated quickly and closed in NY on a rather weak note. In order to maintain the current bullish phase, USD has to crack 114.50 relatively soon (say within these 2 to 3 days) as a prolonged consolidation at these higher levels would lead to a rapid loss in upward momentum. On the downside, a break below 113.30 would indicate that an interim top is in place.

Source: efxnews.com

EUR/USD: Bearish (since 27 Oct 17, 1.1605): Scope for extension to 1.1530.

There is not much to add as we just shifted from a neutral to bearish stance last Friday (see Chart of the Day update). As highlighted, despite the large decline post-ECB, there is scope for extension to 1.1530. That said, any further weakness would likely be at a slower pace and 1.1530 is expected to offer solid support. 

GBP/USD: Neutral (since 11 Oct 17, 1.3205): Short-term weakness to extend lower to 1.3025/30.

There is not much to add as we continue to hold the view that the short-term weakness in GBP could extend lower and test the major 1.3025/30 support. At this stage, the prospect for a clear break below this level is not high but would continue to improve unless GBP can move and stay above 1.3240.

AUD/USD: Bearish (since 26 Oct 17, 0.7705): Another down-leg towards 0.7560 is not ruled out but odds are not high.

The 0.7630 target that was first highlighted last Thursday was exceeded as AUD dipped to a low 0.7625 during NY hours on Friday. Downward momentum has eased somewhat with the rapid rebound from the low but it is too early to expect a short-term bottom. The outlook for AUD is deemed as bearish until 0.7735 is taken out. Until then, another down-leg towards 0.7560 is not ruled out even though the odds for such a move are not that high. 

NZD/USD: Bearish (since 19 Oct 17, 0.7030): Focus on 0.6750 now.

NZD exceeded the revised target at 0.6820 before rebounding quickly. Despite the ‘mild breach’ of 0.6820 (low of 0.6818), the focus has shifted to 0.6750. However, in order to maintain the current momentum (amidst oversold conditions), NZD has to move and stay below 0.6820 within these 1 to 2 days or the prospect for further weakness would diminish quickly. On the upside, only a move above 0.6905 would indicate that a short-term low is in place.

USD/JPY: Bullish (since 19 Oct 17, 112.95): USD has to break 114.50 relatively soon.

While we have maintained a bullish view on USD, we highlighted in recent updates that “114.50 is a major level and is expected to offer solid resistance”. USD touched a high of 114.44 last Friday but retreated quickly and closed in NY on a rather weak note. In order to maintain the current bullish phase, USD has to crack 114.50 relatively soon (say within these 2 to 3 days) as a prolonged consolidation at these higher levels would lead to a rapid loss in upward momentum. On the downside, a break below 113.30 would indicate that an interim top is in place.

Source: efxnews.com

lastest Articles

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
Market Analysis
Dollar in check as investors await August jobs report
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX Tech Targets 07.09.2018: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (06.09.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
EUR/USD Initiates Bullish Series Despite Disappointing Euro-Area Data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Quote: Philip-Fisher-wisdom-trading-quote
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Sterling to float up around 6 percent in a year, but no-deal Brexit would sink it - Reuters poll
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX Tech Targets 06.08.2018: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Sterling edges lower for a fifth day on trade war fears
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Wisdom: The Wise Pig on results
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Sterling plunges vs euro as Brexit fears take centre-stage
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX Tech Targets 04.09.2018: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (03.09.2018)
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
US Dollar within range above 95.00
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX Tech Targets 03.09.2018: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Quote: If you can’t do a thing better than others are doing it, don’t do it at all
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Sterling falls as Brexit headlines sap demand
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Market Events Ahead
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613