Forex Analysis

  • GBP/USD intraday technical analysis and trading recommendations for June 7, 2013

    On Wednesday, the GBP/USD pair expressed daily closure at 1.5409. As expected, this opened the way towards 1.5580 then 1.5620. On the 4H chart, the visible bullish pressure being applied over 1.5400 resulted in the explosive bullish movement that occured Yesterday. The pair is failing to fixate above 1.5603 (the high of May and the backside of the depicted broken bullish channel). This will probably lead ...

    Posted at June 9, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • USD/CAD intraday technical analysis and trading recommendations for June 7, 2013

    The scenario of accidental confusion continued this week untill yesterday when we had this massive bearish daily candlestick that closed at 1.0260.  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.  Today, the USD/CAD pair is still affected by the bearish pressure applied by yesterday's candlestick. However, price action should be watched around 1.0180 for evident bullish ...

    Posted at June 9, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • Gold still not completely out of consolidation. 1,415.00 needs to break

    Technical outlook and chart setups: The metal seems to be still in consolidation, though attempting to break out yesterday and today till now. We need to see a clear break above 1,415.00 level for a confirmation which remains absent for now. It is recommended to book profits on long positions taken yesterday at current price, 1,397/98 and remain flat for a while. There is a possibility that the metal falls back to the support ...

    Posted at May 30, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • Silver buy on dips. 20.00 seems to be strong bottom formation

    Technical outlook and chart setups: There is no change from what was discussed yesterday. The metal has been trading sideways by taking support at the Fibonacci 0.382 levels of recent rally from 20.00 to 23.00. Long positions taken yesterday can be held but please note that the metal can fall down towards the 0.618 support at 21.30/40 levels before rallying further up towards 25.00 and higher. Immediate resistance is seen at 23.30, followed by ...

    Posted at May 30, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • EUR/NZD: Update

    Overview: Since EUR/NZD did not break our FE 161.8% (1.5851) price rejected from lower diagonal of our channel and made new high at price 1.6160 on ultra high volume. We got buying climax bar (ultra high volume bar) on the high new ground which may be potential short term top on this pair.Price also broke previous high (1.6050) but volume didnt confirm breakout so this breakout may be potential false breakout.Buying short ...

    Posted at May 30, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • Silver could be bought by at least 50% capacity at 22.90/95

    Technical outlook and chart setups: The metal continues moving sideways for a while and for now it is recommended to initiate at least 50% long positions at 22.90/95. The remaining 50% could be bought around 21.30/40, if prices fall to that level. Resistance is at 23.30 for now and a break above that would confirm an extended rally towards 25.50 at least. Higher up resistances are at 25.00 and 27.00 respectively. Intermediary supports are ...

    Posted at May 29, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • EUR/USD: intraday technical analysis for May 29, 2013

     Overview:  The EUR/USD pair's support had been broken and it was turned to resistance around the price of 1.3011 last week. Consequently, the pair has already formed a strong resistance at 1.3010. Furthermore, after it could close above 1.3000 and the pair started signing for bullish market, it should also be noted that the price has still been trapped between 50% Fibonacci Retracement levels and 100%. As well the ...

    Posted at May 29, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • GBP/USD: technical analysis for May 29, 2013

     GBP/USD:  Resistance: 1.5260 (sell below this level).  Support: 1.5000 (buy above this level for retesting this level for a short period).  Trend  (time frame: H1/H4): Upward (there is still an ongoing bullish trend). Range: 210 pips (weekly). Trading recommendations: According to the previous events, the price is still between the levels of 1.5180 and 1.5060.  The descending movement will probably be lower than the 1.5260 level ...

    Posted at May 29, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • EUR/USD analysis for May 27, 2013

    EUR/USD Elliott Wave Since our last analyses the EUR/USD pair has been trading downwards, just like we expected, impulsive sub-wave 3 (coloured blue) of the final wave (5) (coloured green) has started its development. During the Friday's Asian and European sessions we could observe ascending movement from 1.2903 towards the 1.2992 level and we can consider this move as the end of the corrective wave 2 (coloured blue). ...

    Posted at May 27, 2013 | By : | Categories : Forex Analysis | 0 Comment
  • EUR/USD intraday technical and fundamental review for May 27, 2013

    Despite the intraday positivity and failure to consolidate below the key ascending trendline around 1.2835, we need to see the EUR/USD pair stable below this trendline in order to pursue the bearish momentum. We talked about consolidation of the pair within the price range 1.2950 -1.3240 and the importance of breakout off this zone for the liberation of the pair which already took place on May 10. The "Double-Top" pattern on the daily chart ...

    Posted at May 27, 2013 | By : | Categories : Forex Analysis | 0 Comment