The Dollar index has made new lower lows towards 95 as expected after breaking 96.50. This level is now important support. Trend is clearly bearish. Red line – resistance Price in the daily chart is below the tenkan- and kijun-sen indicators. Price is making lower lows and lower highs. Oscillators are oversold. Support now at […]

GOLD price remains below the $1,260 level. As long as the 4-hour chart is below this level we are in danger of a rejection and push lower towards $1,230. Bulls need to break resistance soon and make a move towards $1,280-90. Red line – resistance The gold price has entered the 4-hour Kumo. The trend […]

– Sharp moves in USDCAD and a new 1.29 handle in GBPUSD. – Most US banks pass Fed stress tests. – It’s high noon on the calendar with key European & US data out at 12.00 & 12.30 GMT. – Fed Funds show no sign of US rates rising over the summer. Fed Funds show […]

The Russian ruble returned to a decline. The currency lost significant support due to the end of the tax period when exporters are expected to sell part of the Forex earnings to the domestic market. The weakening of ruble is takes place in the wake of recovering Oil prices. This confirms the theory that the […]

This is the Support and Resistance Level Report for Thursday. Here’s how our in-house model tests out. Euro/Dollar has held the ground it gained yesterday, standing between R1 of 1 1430 and S1 of 1 1370. Standing at a 12 month high, R1 sees 3 confirmations, while R2 is a psychological level with 2 studies. […]

Today’s fundamental data for the Euro zone supported the euro in the first half of the day, but it failed to break through the significant resistance level 1.1380. Data from the national statistics agency Insee showed that the index of consumer confidence in France in June this year grew much stronger than projected. According to […]

Wave summary: The rally of the 1.5215 low is clearly impulsive and it should just be a matter of time before the next impulsive rally higher towards 1.5931 and 1.6252 is seen. Longer term, we are looking for a clear break above resistance at 1.6252 to confirm continuation higher towards 1.6759 and above. R3: 1.5931 […]

Wave summary: EUR/JPY continues to rally nicely and followed the expected path almost to perfection. The rally in wave iii has reached its minimum target and could be topping near 128.14 for a short-term correction close to 126.80 before higher again in wave v towards 133.34. That said, we would prefer to see wave v/ […]

EUR/USD For long positions on EUR/USD: The Euro is still capped at 1.1378 and several attempts to rise above that level have not yet led to success. In the afternoon, another attempt to continue the upward movement may be made, and the consolidation to 1.1378 would be a good signal to buy the euro in […]

4-hour timeframe Technical data: The major channel of linear regression: direction – up. The minor channel of linear regression: direction – down. The moving average (20; flattened) is up. SCI: 194.5268 Explanations: During trading session on June 28, the EUR / USD pair continued to gain strength as it moves higher, however, there is no […]

Вчера произошло ровно то, что и должно было произойти при первом же намеке на реальное ужесточение монетарной политики ЕЦБ. В ходе своего выступления Марио Драги заявил, что экономика начинает восстанавливаться, а инвестиции расти, что является хорошим фундаментом для нормализации монетарной политики. И это все при том, что еще недавно глава ЕЦБ заявлял о том, что […]

Overview: The NZD/USD pair still moves around the spot of 0.7250 and 0.7343. The NZD/USD pair didn’t make any significant movements yesterday. There are no changes in our technical outlook. Hence, it should be noted that the support is established at the level of 0.7205 which represents the daily pivot point. The NZD/USD pair is […]

Overview: The USD/CHF pair continues moving downwards from the level of 0.9701. Yesterday, the pair dropped from the level of 0.9701(this level of 0.9701 coincides with the ratio of 61.8% Fibonacci retracement) to the bottom around 0.9591. Today, the first resistance level is seen at 0.9660 followed by 0.9701, while daily support 1 is seen […]

Today’s speech by European Central Bank President Mario Draghi was received by the market rather positively, and the break technical resistance in the pair EURUSD 1.1200-1.1210 caused the elimination of a number of stop orders of major players, which led to the appreciation of the European currency. So what interesting did Mario Draghi say? Despite […]

http://www.elliottwave.com/Investor-Research/Asian-Pacific-Financial-Forecast-Service?tcn=ytv1703 The patterns of investor psychology are the same the world over, and have repeated throughout financial history. Let’s look at stocks in the U.S. and Japan, then and now, and see if we can find similarities. Learn How the Wave Principle Can Improve Your Trading

http://www.elliottwave.com/Investor-Research/Asian-Pacific-Financial-Forecast-Service?tcn=ytv1703 The patterns of investor psychology are the same the world over, and have repeated throughout financial history. Let’s look at stocks in the U.S. and Japan, then and now, and see if we can find similarities. Learn How the Wave Principle Can Improve Your Trading

USDX is accelerating the downside and it looks can reach the support zone of 95.77 in coming hours. If the index manages to consolidate its price action below 95.77, then it’s likely to test the support area of 95.10. However, we expect a recovery to take place, focusing on the resistance zone of 96.77, which […]

GBP/USD had another bullish wave the helped to test the resistance zone of 1.2940, at which the pair is hovering currently. It needs to break above 1.2940 in order to post another high, targeting the resistance level of 1.3011. To the downside, if Cable retraces back below 1.2855, it can re-test the 200 SMA at […]

Get more financial insights like these — 100% free. Just follow this link: http://www.elliottwave.com/wave/etv2016. Learn How the Wave Principle Can Improve Your Trading

Draghi, Carney, Kuroda and Poloz are all speaking on policy at the moment and that’s as exciting as it can get for an FX trader, so let’s see where the 8 majors trade. Panel has definitely shaken up the Cable, which is the mover of the day with a gain of 1.15%, which was posted […]

We are seeing price test a key support level at 0.7264 (Fibonacci retracement, horizontal overlap support) and the plan is to play the bounce up to 0.7317 resistance (Fibonacci extension, horizontal swing high resistance, bearish price action). RSI (34) sees an ascending support line holding up price really well. We remain bullish as it is […]

Price is seeing major support above 0.7578 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level for a rise all the way up to 0.7631 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) I seeing strong support above 8.3% where we expect it to bounce correspondingly with price. […]

Our both targets which we predicted for USD/JPY in the analysis from 26th June have been hit. The pair is expected to continue its upside movement. Although the pair retreated from 112.45 (the high of June 27), a support base at 112.00 has been formed and has allowed for a temporary stabilization. The rising 20-period […]

All our targets which we predicted for the GBP/JPY pair have been hit. Our forecasts for GBP/USD have been true since the 1st June. The pair is still holding on the upside. The upward momentum is further reinforced by the rising 20-period and 50-period moving averages. The relative strength index is mixed with a bullish […]

Thursday is a busy day with plenty of market movers, so let’s take a closer look. Starting things off at 6 AM is the German GfK Consumer Confidence for July. The Index inched even higher in June as consumers remain optimistic about their own income and economic growth. UK Mortgage Approvals for May follow at […]