Archive for Technical Analysis

Fibo Analysis for GOLD and USD/CHF: 24.09.2018

Article By RoboForex.com

GOLD

On H4, gold is moving inside a correctional range after hitting 23.60% Fibo. The primary 50% impulse has been corrected, and the price may now head to 61.80 at $1,180.80. After hitting the current high at $1,214.28, the price may correct upwards to 38.20%, or $1,238.40, and 50.00%, or $1262.50.

GOLD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, gold is moving down, heading towards 50.00%% ($1187.25) and 61.80% ($1,180.80).

GOLD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USD/CHF

On H4, the USD/CHF is downtrending and approaching 61.80% Fibo (0.9525). Meanwhile, the convergence is forming, which mean the price may pull back to 23.60% (0.9648), 38.20% (0.9712), and 50.00% (0.9764), the support being at 0.9543.

USDCHF1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, the price has tested the post correctional extension at 138.20%-161.80% (0.9560-0.9537) with a new downtrend impulse, and may now get back to test it once more.

USDCHF2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Tech Analysis: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT; 24.09.2018

Article By RoboForex.com

EURUSD

The EUR/USD is trading within the first downward wave and may reach 1.1722 today. Then, it may go down to 1.1765, and fall back to $1.1660,i.e. a local target.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD

The GBP/USD is being under pressure; today, it may reach 1.3027, but then a pullback to 1.3165 might occur. Then, a downtrend may start, with the target at 1.2895.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF

The USD is rising against the franc within the first upward wave and may reach 0.9600 today. Then, a pullback to 0.9570 is possible, and then another rise (wave 3) to 0.9630.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY

The USD/JPY is trading within the first downward wave with the target at 112.25. Then, a rise to 112.60 is possible, and after that, it may go back to 111.66, i.e. a local target.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD

The AUDUSD got inside the first downward impulse, and today it may go down again, to reach 0.7222. Then, a rise to 0.7250 is possible, and after that, it may go back to 0.7160.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB

The USDRUB is still consolidating around the downward wave lows. Today, it may reach 66.00, and then pull back to 68.00. After that, it may go back to 65.65 again, which is going to be the first target.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GOLD

Gold is downtrending, with the target at 1188.75. Then, a rise to 1199.80 is possible, and after that, it may go back to 1186.22 again.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent crude is consolidating around $79.15. Today, it may break out the range and go up to reach $80.00, but then is likely to correct to 79.60. After that, it may rise back to $82.20 again.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

The Analytical Overview of the Main Currency Pairs on 2018.09.24

Analytics by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.17764
  • Open: 1.17401
  • % chg. over the last day: -0.23
  • Day’s range: 1.17368 – 1.17523
  • 52 wk range: 1.0571 – 1.2557

On Friday, the EUR/USD currency pair moved away from local highs. At the moment, the technical pattern is ambiguous. The EUR/USD quotes are testing local support and resistance levels: 1.17300 and 1.17700, respectively. The positions should be opened from these marks. The further growth of the EUR/USD currency pair is not excluded.

The news feed on 2018.09.24:
  • – German Ifo business climate index at 11:00 (GMT+3:00).

We also recommend paying attention to the speech by the ECB president Draghi.

EUR/USD

Indicators do not send accurate signals: the price has crossed 50 MA.

The MACD histogram is near 0 mark. There are no accurate signals.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which indicates the growth of quotes.

Trading recommendations
  • Support levels: 1.17300, 1.16850, 1.16400
  • Resistance levels: 1.17700, 1.18000

If the price fixes above the resistance level of 1.17700, further growth of the EUR/USD quotes is expected. The movement is tending to 1.18000-1.18200.

An alternative may be the decrease of the EUR/USD currency pair to 1.16850-1.16400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.32500
  • Open: 1.30749
  • % chg. over the last day: -1.43
  • Day’s range: 1.30963 – 1.31151
  • 52 wk range: 1.2361 – 1.4345

On Friday, aggressive sales were observed on the GBP/USD currency pair. The decrease in quotes exceeded 175 points. The British pound weakened significantly against the US dollar after Theresa May stated that Brexit negotiations were at an impasse. At the moment, the key trading range is 1.30700-1.31300. The positions should be opened from these marks.

Today, the news feed on the UK economy is calm.

GBP/USD

The price has fixed below 50 MA and 200 MA, which signals the power of sellers.

The MACD histogram is located in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.

Trading recommendations
  • Support levels: 1.30700, 1.30200, 1.29700
  • Resistance levels: 1.31300, 1.31800, 1.32400

If the price fixes below the local support of 1.30700, further decline in the GBP/USD currency pair is expected. The movement is tending to 1.30200-1.30000.

An alternative may be the GBP/USD quotes growth to the local offer zone of 1.31800-1.32000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29042
  • Open: 1.29243
  • % chg. over the last day: +0.09
  • Day’s range: 1.29157 – 1.29276
  • 52 wk range: 1.2059 – 1.3795

The USD/CAD quotes are still in a sideways trend. A unidirectional trend is not observed. According to report published on Friday, the core retail sales index in Canada rose to 0.9% in August instead of 0.6%. Local support and resistance levels are: 1.29150 and 1.29500, respectively. We recommend looking for entry points to the market from these marks.

The news feed on the economy of Canada is calm.

USD/CAD

The price has fixed between 50 MA and 200 MA, which are dynamic support and resistance levels.

The MACD histogram is in the positive zone, above the signal line, which signals to buy USD/CAD.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates the bearish sentiment.

Trading recommendations
  • Support levels: 1.29150, 1.28800
  • Resistance levels: 1.29500, 1.29900, 1.30300

If the price fixes below the local support of 1.29150, the USD/CAD quotes are expected to decline. The movement is tending to 1.28800-1.28500.

Alternative option. If the price fixes above 1.29500, it is necessary to consider purchases of USD/CAD. The target movement level is 1.29900-1.30300.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.440
  • Open: 112.422
  • % chg. over the last day: +0.07
  • Day’s range: 112.429 – 112.874
  • 52 wk range: 104.56 – 114.74

The technical pattern on the USD/JPY currency pair is ambiguous. At the moment, quotes are consolidating. Local support and resistance levels are: 112.450 and 112.700. We recommend paying attention to the US government bonds yield. Positions should be opened from the key levels.

The news feed on the economy of Japan is calm today.

USD/JPY

The price has fixed above 50 MA and 200 MA, which signals the power of buyers.

The MACD histogram is located near the 0 mark. There are no signals.

Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 112.450, 112.150, 111.900
  • Resistance levels: 112.700, 112.900

If the price fixes above the resistance level of 112.700, the USD/JPY quotes are expected to rise. The movement is tending to 112.900-113.200.

Alternative option. If the price fixes below 112.450, we recommend looking for entry points to open short positions. The target movement level is 112.150-111.900.

Analytics by JustForex

USDJPY: clean, technical setup

By Tomasz Wisniewski, Alpari

The new week starts with few very clean technical setups! This could be a great week for the technical traders. So, all speculators using price action should check this out!

The cleanest, and in my opinion, the best setup overall, is the USDJPY, where we have a nice buy signal. USDJPY has made the same correction 4 times in a row (grey)! It all started in the middle of September and since then, every bearish correction has come to around 45 pips. That’s the first thing. The second point is that the price defended the horizontal support at 112.4 (yellow). Slightly below that line was a mid-term upwards trend line (blue), which after today’s upswing looks pretty safe.

To sum up, all supports were defended and we are ready for a new bullish wave. The potential target for this movement is at 113.15, which is 50 pips higher than the current rate. This is just the first one though. In my opinion, using this momentum, we should go even higher. The buy signal is on as long as we stay above the yellow line. A breakout here is obviously possible but the probability is really low.

USD advances ahead of the Fed meeting this week

By Orbex

The U.S. Dollar was seen posting gains on Friday sending most of the currencies lower toward the close. Data from the Eurozone showed that flash manufacturing and services PMI came out mixed. Flash manufacturing PMI for September was seen to be weaker at 53.3 while services PMI was in line with expectations.

Act_TradeIdeas

The British Pound fell on comments from PM May. Following a failed attempt to push for a favorable Brexit deal in Salzburg last week, Theresa May said that the UK and the EU were at an impasse on Brexit.

The NY trading session saw the release of the inflation data from Canada. Headline inflation dipped 0.1% as expected. The trimmed mean CPI was up 2.1% on the year. Core retail sales advanced 0.9% beating estimates of a 0.6% increase. Headline retail sales improved by 0.3% as expected.

The markets open to a quiet Monday. Economic data is sparse with Japan and China bank holidays. Most of the data is the second tier and is unlikely to impact the markets much.

The German Ifo business climate data will be coming out during the early European trading session. The recent downtick in the Eurozone’s consumer confidence could likely dent the sentiment in the German Ifo business climate as well.

Data from Canada will see the release of the wholesale sales report. No scheduled reports are coming out of the U.S. today.

EURUSD intraday analysis

eurusd

EURUSD (1.1742): The EURUSD currency pair breached the resistance level of 1.1745 on Friday before easing back. With the resistance level breached, we expect price action to consolidate near this level in the short term. The bias remains to the upside as long as the previous low of 1.1650 is not taken out. We expect the euro currency to run further if support is established near 1.1745 – 1.1718.

GBPUSD intraday analysis

gbpusd

GBPUSD (1.3078): The GBPUSD extended sharp declines on Friday. The currency fell on the Brexit negotiations hitting an impasse. However, the technical bias remains to the upside. The current decreases could see the GBPUSD stall near 1.3208 where support is likely to be formed. A rebound off this level will mark a retest of the previously held resistance level. To the upside, 1.3250 will remain a key obstacle. Clearing this resistance could push GBPUSD to further gains.

XAUUSD intraday analysis

xauusd

XAUUSD (1197.00): Gold prices fell sharply on Friday, but price action was contained near the 1196.00 region. The ascending triangle pattern is still valid, and we expect the rebound to push gold prices higher to 1212.20 region. A breakout above 1212.20 could trigger the ascending triangle pushing the price toward 1238.00 region which marks the minimum upside bias.

By Orbex

EURUSD: Movement is expected on the euro against Friday’s gains

By Gabriel Ojimadu, Alpari

Despite the strengthening of the US dollar on Friday, by the end of the week all major currencies, except the yen, showed gains. The highest gains were shown by the New Zealand dollar (+ 2.05%). The Australian dollar gained 1.87%, the euro – 1.08%, the Canadian dollar – 0.99%, the Swiss franc 0.96, and the British pound – 0.09%. The Japanese yen fell by 0.45%.

Fig 1. Last week’s USD dynamics.

Previous:

On Friday, trading on the EURUSD pair closed down. The single currency began to lose ground to the dollar in the European session after hitting new all-time highs, and accelerated the fall in the US session following the British pound.

The British pound dropped by 220 pips (to 1.3054). On Friday, British PM Teresa May announced that negotiations with the EU on the issue of Brexit had reached a dead end, which caused the euro to fall to 1.1733.

Day’s news (GMT+3):

  • 11:00 Germany: IFO business climate (Sep), current assessment (Sep), expectations (Sep).
  • 13:00 UK: CBI industrial trends survey – orders (MoM) (Sep).
  • 15:30 Canada: wholesale sales (MoM) (Jul).
  • 15:30 US: Chicago Fed National Activity Index (Aug).
  • 16:00 Eurozone: Draghi ECB speech.

Fig 2. EURUSD hourly chart.

Current situation:

Expectations on Friday were fully justified. The price was adjusted to the lb balance line.

In Asia, the dollar is trading in positive territory, so the euro is now declining along with other major currencies. It currently sits at 1.1734. Euro crosses are almost all in the green zone. With such allies, the support at 1.1725 should stand. I’m seeing a correction in place with regards to Friday’s drop.

Now traders have their attention focused on the Federal Reserve System (FRS) meeting, which will be held on the 25th and 26th of September, and Brexit news. As for the meeting, everyone is expecting an a rate increase of 0.25 – up to 2-2.25% per annum. The rate increase is included in the price, so the Fed’s trading and commerce will be of interest when it comes to other increases this year.

Source: EURUSD: Movement is expected on the euro against Friday’s gains

 

​GBP/JPY Confluence at 61.8 Fib and S1 Pivot

By Admiral Markets

GBPJPY Technical Analysis

Source: GBP/JPY Admiral Markets MT5 with MT5SE Add-on Accessed: 24.09.2018 09:25 AM

GBPJPY Technical Analysis

Source: GBP/JPY Admiral Markets MT5 Weekly Chart 2012-2018 Accessed: 24.09. 9:25 AM

The GBPJPY is following the ascending trend line with a zig zag pattern which indicates a bullish trend. Today we have light UK data which might provide bulls with another chance to spike the price to the upside. The FPC (Financial Policy Committee) statement includes detailed analysis on the stability of the financial system, an assessment of potential risks to financial stability, and recommendations to protect and enhance the resiliency of the UK financial system. This is one of the tools that the FPC uses to communicate with investors about financial policy. It contains policy changes taken, and commentary on the economic conditions that influenced their actions, which can impact future MPC (Monetary Policy Committee) interest rate decisions. Don’t forget to check our Forex calendar for all regular updates, economic announcements, forecasts and much more!

Technically, the GBP/JPY has formed a zig zag with an ascending trend line that might spike the price to the upside potentially from the POC zone of 145.40-60 or slightly higher above, around 146.25. Traders might also want to focus on a potential price close above the Admiral pivot point (PP) -147.73. If it happens, targets are likely to be around R1- 149.15 followed by 149.74. Only a close above 149.74 might open the way to a weekly R2 – 151.13. This scenario will be negated if the price breaks below 145.00

Pivot Lines – Weekly Support and Resistance

POC – POC – Point Of Confluence (The zone where we expect the price to react – aka the entry zone)

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

Article by Admiral Markets

Source: ​GBP/JPY Confluence at 61.8 Fib and S1 Pivot


Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.

 

CRUDE OIL: Continues To Hold Onto Upside Pressure, Targets 71.63 .

By FXTechStrategy.com

CRUDE OIL: The commodity closed higher the past week leaving risk of more strength in the new week. On the downside, support resides at the 70.00 level where a break will expose the 69.50 level. A cut through here will set the stage for a run at the 69.00 level. Further down, support resides at the 68.50 level. On the upside, resistance resides at the 71.00 level. Further out, resistance comes in at the 71.50 level. A break above here will aim at the 72.00 level and then the 72.50 level followed by the 73.00 level. All in all, CRUDE OIL remains biased to the upside.

This is an excerpt from our 10-currency daily analysis and trade alerts with buy/sell entries, stoplosses and profit targets…Click Here To Get Started

 

NZDUSD: Retains Recovery Threats, Eyes The 0.6726 Zone

By FXTechStrategy.com

NZDUSD: With the pair still retaining its upside pressure on correction, more strength is envisaged in the new week. Support lies at the 0.6650 level. Further down, the 0.6600 level comes in as the next downside target. Conversely, resistance resides at the 0.6750 level where a break will aim at the 0.6800 level. A break of here will have to occur to create scope for a run at the 0.6850 level. Further out, resistance stands at the 0.6900 level. Its daily RSI is bullish and pointing higher suggesting further recovery higher. All in all, NZDUSD faces further upside pressure.

This is an excerpt from our 10-currency daily analysis and trade alerts with buy/sell entries, stoplosses and profit targets…Click Here To Get Started

 

Tech Analysis: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT; 21.09.2018

Article By RoboForex.com

EURUSD

The euro has broken out the consolidation range against the dollar and is now rising to the target at 1.1794. It may first fall to 1.1765, then rise to 1.1794, but then again fall to 1.1740.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD

The GBP/USD is still trading higher. The pair is likely to reach 1.3316, then fall down to 1.3228, and then, after breaking it out, may go further down to 1.3025, which is going to be the first target.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF

The USDCHF went below the consolidation range and is now downtrending at around 0.9570. Today, it may correct upwards to 0.9596, and then fall till 0.9570. After that, the pair is likely to rise, reaching 0.9666, which is going to be the first target.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY

The pair is being pushed upwards; It may first fall to 112.46, and then rise to 112.90. After that, it may go back to 111.55 again, which is going to be the first target.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD

The USDAUD is being pushed upwards, and may soon reach 0.7320, but then is likely to fall till 0.7230, which is going to be the first target.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB

The pair is being pushed down, with the local target at 66.00. Today, it may correct upwards to 66.96, then is likely to fall till 66.00, go back to 68.00, and, finally, go down to 65.65, which is going to be the first target.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GOLD

The yellow metal is no longer consolidating, and might reach $1,208. However, a more likely scenario is going down and reaching $1,186.20.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent crude is trading within a consolidation near $79.15. Today, the price is inside a rising pattern near the upper range boundary. If it continues rising, the price may go up towards $80.50, which is a local target. In case it breaks out the range and goes down, the price may correct to 78.00, but then again is likely to take $80.50.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.