Forex Analysis

  • GBP/USD. Forecast for June 17, 2013

      Published on Friday data on the US was weak. US Capacity Utilization in May was 77.6% vs. forecast for 77.9%. US Industrial Predication was flat vs. forecast for a 0.3% rise. The correlation to the stock market which we observe is gradually becoming direct relation, the movements become codirectional. i.e. weak data on US growth reduces the risk appetites. Today on the eurozone and the US the news is expected to be positive. The leaders ...

    Posted at June 17, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • USD/CAD analysis for June 17, 2013

    USD/CAD Elliott Wave Last week, the USD/CAD pair was trading downwards, impulsive wave [5] (coloured red) of the bigger wave C (coloured green) was developing. During the Friday's Asian and European sessions we could observe sideways movement between 1.0154 and 1.0185 area. Therefore, during the New York session this commodity currency did not manage to hold this level and the price has dropped to the new low at 1.0136 ...

    Posted at June 17, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • AUD/USD analysis for June 17, 2013

    AUD/USD Elliott Wave For the last few days the AUD/USD pair has been trading upwards, just like we expected, corrective wave [2] (coloured red) of the bigger wave 3 (coloured green) has been developing. During the Friday's Asian and European sessions we could observe sideways movements between 0.9566 and 0.9654 levels.Therefore, during the New York session this major currency has continued trading in a sideways mood and the ...

    Posted at June 17, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • USD/CAD intraday technical analysis and trading recommendations for June 14, 2013

    Support level around 1.0016-0.9995 provided evident bullish steam for the pair to step above 1.0300. Hence, there might be further bullish pressure to test 1.0430 level. The scenario of accidental confusion continued last week until last week on Thursday when we had this massive bearish daily candlestick that closed at 1.0260. Today, the USD/CAD pair is still affected by the bearish pressure applied during the last two weeks. However, price action should be ...

    Posted at June 15, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • Silver technical levels and trading recommendations for June 14, 2013

     Overview  As it was expected yesterday, the metal would reverse its bearish move to start its upward direction after hitting the Support level 21.50 yesterday and bounced from it. Today and as shown from the today's H4 chart the metal already took a bullish move after it has managed to break the Resistance level 22.00 and closed above it. But immediately it bounced again from the Resistance level 22.50 and currently ...

    Posted at June 15, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • GBP/JPY technical levels and trading recommendations for June 14, 2013

    Overview  From the today's H4 chart and as it was expected yesterday, the pair might take a new bullish signals in case of closing 4H above the resistance level 148.75 after it has been tested yesterday. Today the pair took an upward movement and managed to break the strong resistance area 154.00 then 150.00, but immediately it bounced again from the Resistance level 150.00 to reverse its upward direction and currently the ...

    Posted at June 15, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • GBP/JPY technical levels and trading recommendations for June 10, 2013

    Overview From the today's H4 chart, we find that the pair opened this week above the Support level 152.50 and below the Resistance level 153.85. Currently it is testing it to continue its bullish trend. Given that the pair continues its bullish movement and closes 4H above the Resistance level, it would be another opportunity for more bullish signals with first target few pips below the Resistance level 154.75, then we should wait ...

    Posted at June 10, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • EUR/USD: Weekly and monthly pivot point and signal – for June 10 – 15, 2013

    Last week, the EUR/USD pair was very positive. Now this pair is trading at 1.3219 after having covered the gap left in the opening week. This pair is located at 1.3159, above the weekly pivot, we believe the euro should go back to this level, to take bullish momentum. On the other hand, the break of the weekly pivot will add strength to the downward pressure that could lead to the first weekly support level, ...

    Posted at June 10, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • Silver technical levels and trading recommendations for June 10, 2013

    Overview Based on the today's H4 chart, last week the metal took a bearish move and managed to break the Support level 22.00 and closed below it. But rapidly it hit the Support level 21.50 and bounced from it to reverse its bearish move. Currently the metal is approaching the Resistance level 22.00 to test it again. In case the metal closes the current 4H candle above the resistance level 22.00 and ...

    Posted at June 10, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • EUR/USD intraday technical and fundamental review for June 7, 2013

    The downtrend line extending from 1.3700 was broken when we had daily closure above 1.3075, this opened the way towards 1.3106 then 1.3250. Price Levels around 1.3250 represent a strong resistance for the EUR/USD pair as it corresponds to previous tops (including the high of May). Obviously, the pair expressed bullish daily closure at 1.3244 which is continuation signal. However, the precceeding movement will probably require some retracement.A bullish ...

    Posted at June 9, 2013 | By : | Categories : Forex Analysis | 0 Comment