The price is testing major resistance at 1.1846 (multiple Fibonacci extensions, horizontal swing high resistance) and we expect to see an intermediate correction for a drop towards 1.1764 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing strong resistance below our 98% level where we expect a drop from too. Correlation analysis: We are […]

The price has made a recent bullish exit of our triangle formation. We remain bullish above major support at 0.7969 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level for a rise at least to 0.8066 resistance (Fibonacci extension, horizontal swing high resistance). RSI (34) is seeing pullback support […]

The price has made a bullish exit from a short term triangle formation. We remain bullish looking to buy on dips above 0.7484 support (Fibonacci retracement, horizontal overlap support) for a further push up towards 0.7549 resistance (Fibonacci extension, horizontal swing high resistance). We move our stop loss to 0.7457 to protect our profits. RSI […]

The price has bounced above our buying entry and is fast approaching our profit target once again. We prepare to sell below major resistance at 130.78 (Fibonacci extension, horizontal swing high resistance) for a drop towards 129.96 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing major resistance below 94% where we expect a […]

The price has continued to drop nicely towards our profit target. We remain bearish looking to sell below 88.34 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a further push down to at least 87.65 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing intermediate resistance below 45% where we expect a […]

The price has dropped nicely from our selling area and is fast approaching our profit target. Due to the changing elements, we close out our current positions and prepare to turn bullish looking to buy on dips above 109.80 support (Fibonacci extension, Fibonacci retracement, bullish divergence) for a push up to at least 111.59 resistance […]

When the European market opens, some Economic Data will be released, such as Prelim Flash GDP q/q, Final Manufacturing PMI, German Unemployment Change, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI. The US will release the Economic Data, too, such as Total Vehicle Sales, ISM Manufacturing Prices, Construction […]

In Asia, Japan will release the BOJ Core CPI y/y, 10-y Bond Auction, Final Manufacturing PMI data, and the US will release some Economic Data, such as Total Vehicle Sales, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So, […]

Overview: The USD/CHF pair broke resistance which turned to a strong support at the level of 0.9579 last week. The price of 0.9579 coincides with 38.2% of Fibonacci, which is expected to act as a major support today. Since the trend is above the 38.2% Fibonacci level, the market is still in an uptrend. From […]

Overview: Pivot point: 0.7444. The NZD/USD pair continues to move upwards from the level of 0.7490. Last week, the pair rose from the level of 0.7490 to a top around 0.7557. So, the first resistance level is seen at 0.7557 followed by 0.7600, while the daily support 1 is seen at 0.7444 (61.8% Fibonacci retracement). […]

http://www.elliottwave.com/Investor-Research/Financial-Forecast-Service?tcn=ytv1703 In mid-2000, the world feared it was running out of Oil. Speculators, in turn, became feverishly bullish on oil’s price. A 78% crash soon followed. Now, the phrase “peak oil” has been re-introduced, but in a different way. Learn How the Wave Principle Can Improve Your Trading

USD/JPY has been impulsively bearish after bouncing off the resistance level of 114.40. As of the recent bad economic reports of USD without any hint of a Rate hike in the coming days made JPY gain some momentum to dominate. The dollar is currently in a defensive mode due to political unrest in the country […]

The greenback is weak ahead of the end of the month and the 200 SMA still provides the line in the sand in the index. The next target is placed at the 92.29 level, as the US Dollar Index is trying to consolidate below the support zone of 93.25. To the upside, the nearest resistance […]

The pair is rallying and showing that bulls remain stronger across the board, with a breakout above the key level of 1.3153, which opens the door to test the next resistance around 1.3257. To the downside, we’re expecting a support to be found in the 200 SMA at H1 chart once GBP/USD breaks below 1.3153. […]

Economic calendar is busy on this Monday, so let’s see if news reports have shaken up the 8 major currencies. Moves aren’t particularly volatile and Euro/Canada shows the biggest one, which is a gain of point 6%. The pair started moving sharply higher just shortly before noon. Swiss Franc tops the table and it’s trailed […]

Weekly Technical Analysis of the Forex Markets – to guide your trading using technical indicators such as moving averages, RSI, Fibonacci, Ichimoku.

EUR/USD has been impulsively bullish forming a non-volatile trend since it broke above the 115.00 resistance level recently. The Eurozone has posted some upbeat economic reports recently whereas USD is on losing streak amid bad economic reports which can be observed currently in the market. Though there are certain hints of USD expecting a rate […]

The first day of August brings plenty of news releases, so let’s take a closer look. It’s a bank holiday in Switzerland as Swiss National Day is observed. UK Nationwide House Price Index for July is up first at 6 AM, and the prices saw an unexpected jump in June, reversing 3 months of decline. […]

Bank of England set to keep rates unchanged, the vote split in focus. UK PMI’s, manufacturing, construction and services. US NFP will be eyed, as participants look for a Dollar pull back. RBA set to keep rates unchanged, but look to talk AUD down. You can view this video and the full video archive on […]

Daily Outlook The NZD/USD pair has been trending up within the depicted bullish channel since January 2016. In November 2016, early signs of bullish weakness were expressed on the chart when the pair failed to record a new high above 0.7400. A bearish breakout of the lower limit of the channel took place in December […]

Monthly Outlook In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target is projected toward 0.9450. In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997. […]

Find out how this trading week has set off for the market players by watching the Dukascopy Midday Snapshot. Euro/Dollar’s rate movement has been calm – high and low difference is just 27 pips, but the pair sees a typical amount of funds. Sentiment of the market players is neutral, 4% short. The relatively flat […]

Overview The USD/JPY pair continues its decline strongly after confirming breaking 110.98 level, to approach from our main waited target at 110.15 now, noting that this level represents 76.4% Fibonacci correction level for the rise measured from 108.80 to 114.49, which means that breaking it will put the price under more negative pressure on the […]

Overview The GBP/JPY pair was forced to provide intraday sideways trading due to forming new support at 144.85, to block the waited negative release, while the stability of this support allows us to expect to form intraday bullish rebound to move towards 147.60 resistance followed by monitoring the price behavior due to the importance of […]

Overview GOLD price resumed its positive trading affected by the previously completed inverted head and shoulders’ pattern, and the price gets continuous positive support by the EMA50, reinforcing the expectations of continuing the bullish trend on the short term basis, as our next target is located at 1295.37, while the full target of the mentioned […]