Forex Analysis

  • Gold at past congestion near 1,250.00

    Technical outlook and chart setups: The metal is right at the congestion of the following: 1. Past resistance becoming future support at 1,250.00. 2. Fibonacci retracement (0.50) of the rally between 680.00 to 1,900.00 levels. 3. Fibonacci extensions of the down cycle from 1,900 to sub 1,500 levels. A bullish reversal here should be bought against current lows. Another potential remains for the metal to test 0.618 retracement levels near 1,150.00 level before reversing for ...

    Posted at June 26, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • Silver searching for bottom. 17.00 seen as max downside

    Technical outlook and chart setups: Silver is searching for bottom formation/support levels. At the moment it remains at the following: 1. Past resistance turned support levels 18.50-19.20. 2. Fibonacci retracement levels of the entire rally from 08-10 to 49.00 level. 3. Fibonacci extension of the downswing from 49.00 to 34.00 level. A bullish reversal is possible here or around 17.00 level; before the metal reverses. Watch out for a bullish reversal on higher timeframes of ...

    Posted at June 26, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • USD/CAD intraday technical analysis and trading recommendations for June 24, 2013

    The USDCAD pair was declining for two successive weeks until strong recovery observed on June 14.  Daily closure above 1.0260 that took place on Wednesday allowed another bullish impulse to take place. The USD/CAD pair rose steeply last week approaching key-resistance level of the ascending channel as depicted on the chart.  Resistance level located at 1.0530 may trigger some bearish retracment within the ascending channel. However, breakthrough above 1.0595 level might delay any bearish ...

    Posted at June 24, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • EUR/USD weekly technical levels for June 24 — 28, 2013

    Weekly technical levels:  Intraday trading recommendations:  According to previous events, the price has still been trapped between 1.3125 and 1.3080. The level of 1.3000 will indicate a strong support, moreover the price will be formed at a double bottom in this level. Therefore, it will be wise to buy at 1.3000 with the first target at 1.3211 (the weekly pivot point), then it will continue towards 1.3300. ...

    Posted at June 24, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • GBP/USD technical analysis for June 24, 2013

        Overview: GBP/USD:  The resistance has already set at the level of 1.5494 as well as the support has also been set at 1.5309. Therefore, according to the previous events, the price has still been trapped between 1.5450 and 1.5420, then it should be noted that the range today will be around 95 pips. Consequently, the trend on the time frame H1 is called for a bearish market at the ...

    Posted at June 24, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • GBP/JPY technical levels and trading recommendations for June 21, 2013

     Overview  Proceeding from the today's H4 chart, the pair is still trading between the Support level 150.50 and the Resistance level 151.50 and currently the pair fails again to break the Support level. If the pair bounces from it to take an upward movement, it may continue its bullish trend and we will get a good opportunity to buy again above the Resistance level 151.50 till closing 4H above the Resistance ...

    Posted at June 24, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • Daily trading forecasts for June 24, 2013

    EUR/USD: There has been a clean bearish signal on this pair, and as such, it makes sense to seek only short trades this week. Since the pair dropped by over 200 pips last week, leading to more serious bearish pressure, it would not be difficult for the price to reach the support line at 1.3000 this week.USD/CHF: The run-up that was forced to take place last week had an eventual impact ...

    Posted at June 24, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • USD/CAD analysis for June 20, 2013

    USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading upwards, impulsive wave 3 (coloured blue) of the bigger wave [1] (coloured red) has been developing. During the Wednesday's Asian and European sessions we could observe descending movement from 1.0239 towards the 1.0175 level and we can consider this move as the end of the corrective sub-wave 2 of the wave 3 (coloured blue). Therefore, ...

    Posted at June 20, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • AUD/USD analysis for June 20, 2013

    AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has continued trading downwards, just like we expected, impulsive wave 3 (coloured blue) of the bigger wave [3] (coloured red) has been developing. Yesterday, during the Asian and European sessions we could observe ascending movement from 0.9437 towards the 0.9555 level and we can consider this move as the end of the sub-wave 2 of the impulsive wave ...

    Posted at June 20, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • EUR/USD. Forecast for June 20, 2013

      During the Fed's meeting it was decided not to change current monetary policy. However, according to Ben Bernanke's commentaries it will take place either at the July or September's meeting. Fed's Economic Projections surpassed investors' expectations, that was accepted as a sign that it will be done “sooner, not later”. It is forecast GDP grows 2.3%-2.6% vs. 2.3%-2.8% in 2013 in the previous March's forecast and 3.0%-3.5% in 2014 vs. 2.9%-3.4% in March. ...

    Posted at June 20, 2013 | By : | Categories : Forex Analysis | 0 Comment