Fading support for President Trump is weighing on USD, as the US administration is finding it difficult to get enough backers in the Senate to pass the healthcare reform bill, raising questions about how the rest of its ambitious agenda would fare. USD was also weakened by the fading likelihood of US interest rates rising […]

When the European market opens, some Economic Data will be released, such as ZEW Economic Sentiment and German ZEW Economic Sentiment. The US will release the Economic Data, too, such as NAHB Housing Market Index and Import Prices m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day. […]

In Asia, today Japan will not release any Economic Data, but the US will release some Economic Data, such as NAHB Housing Market Index and Import Prices m/m. So, there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 112.86. Resistance. 2: 112.64. Resistance. […]

USD/JPY is currently in a bearish impulsive momentum after getting bounced off from the 114.40 resistance level recently. USD has been losing its grounds due to bad economic reports published recently and it seems to continue further if USD do not provide any positive economic reports in the coming days. Despite Japan observing holiday for […]

We remain bearish looking to sell below 1.1485 resistance (Fibonacci extension, horizontal swing high resistance) for a push down to at least 1.1419 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is testing major resistance at 97% signaling that a reversal is fast approaching. Correlation analysis: EUR/USD and USD/CHF are negatively correlated, meaning they move […]

The price has reached our profit target from Friday and has started to bounce off nicely from our buying area yesterday as expected. We remain bullish looking to buy on dips above major support at 0.9606 (Multiple Fibonacci extensions, horizontal swing low support) for a push up to at least 0.9659 resistance (Fibonacci retracement, horizontal […]

The price is approaching major support at 0.7244 (Fibonacci retracement, horizontal overlap support) and we expect a bounce above this level to at least 0.7299 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (21,5,3) is approaching strong support above 3% where we expect a bounce to occur. Buy above 0.7244. Stop loss is at 0.7213. Take […]

The price has dropped absolutely perfectly from our selling area as expected and is fast approaching our profit target. We remain bearish looking to sell below 0.7802 resistance (Fibonacci retracement, horizontal pullback resistance) for a further drop to at least 0.7741 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is dropping nicely from our 96% […]

The price has reached our selling area and reacted off it perfectly. We remain bearish looking to sell on strength below major resistance at 88.26 (Fibonacci extension, Elliott wave theory) for a continued drop to at least 87.27 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) has started dropping from our 98% resistance nicely. Correlation […]

We remain bullish preparing to buy above major support at 111.90 (Fibonacci retracement, Fibonacci extension, Elliott wave theory, horizontal overlap support) for a push up to at least 114.32 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is approaching major support at 1.2% which corresponds with the bounce we’re expecting at price. Buy above […]

Overview: The NZD/USD pair is continuing to rise from the level of 0.7250 in the long term. It should be noted that the support is established at the level of 0.7250 which represents the first support on the H4 chart. The price is likely to form a double bottom in the same time frame. The […]

Overview: The USD/CHF pair continues to move upwards from the level of 0.9582. Last week, the pair rose from the level of 0.9582 to a top around 0.9649. Today, the first support level is seen at 0.9582 followed by 0.9552, while daily resistance 1 is seen at 0.9710. According to the previous events, the USD/CHF […]

http://www.elliottwave.com/Investor-Research/Financial-Forecast-Service?tcn=ytv1703GOLD
and Silver are widely considered classic inflation hedges. But conventional wisdom often does not square with reality. Market observers tend to see what fits with …

The index is looking to break below 95.10 in an effort to extend weakness towards 94.16. Overall trend remains bearish as long as USDX still trades below the 200 SMA at H1 chart. However, we can expect a recovery to take place towards that moving average before to resume the decline. The next target should […]

The pair is consolidating gains above the support zone of 1.3026 and looks forward to breaking above 1.3106. If that happens, then we would expect to see an advance towards the 1.3238 level in a first degree. To the downside, if 1.3026 gives up, it’s likely to see a decline to test the 200 SMA […]

EUR/USD has been quite bullish recently after breaking and retesting off the support area of 1.1280-1.1360. As of recent weak data from US leaded to further gain on the EUR side. Though the gain was not quite impulsive but consistent in nature. Today EUR Final CPI report was published as expected with an unchanged value […]

It’s 3 PM GMT on this week’s opening trading day, so let’s see how the 8 major currencies line up. Sterling/Swissie moved sharply lower after 7 o’clock and the pair stands point 52% in the red after rising from the daily low. Chinese data was positive and Swiss Franc tops the advancers and decliners table. […]

Overview The GBP/JPY pair tests the critical resistance at 147.65 now which represents the neckline of the double bottom pattern. As we mentioned in our last reports, breaching this level will stop the expected decline in our last reports and will push the price to 149.00 and then 150.95 on the near-term basis. Now, the […]

Overview GOLD has been trading higher since the start of this week. The metal has been able to breach 1,229.32 level and hold above it, which supports the outlook for a further bullish wave on the short-term basis. This opens the way to head towards 1,254.56 that represents our next main target. The price gets […]

Overview Silver price bounced bullishly after 15.65 and has been trying to hold against the recent dip moves. Now the price is heading towards our first target at 16.56. The price is supported by the rise that appears on stochastic. Therefore, our positive overview will remain valid and active in the upcoming sessions conditioned by […]

USD/CHF is expected to trade in a lower range as the pair is under pressure. The pair retreated from 0.9700 (the high of July 14) and broke below its 20-period and 50-period moving averages. In addition, the bearish cross between 20-period and 50-period moving averages has been identified, which indicates a negative signal. The relative […]

GBP/JPY is expected to trade with a bearish outlook. The pair broke above its 20-period moving average but is still capped by the 50-period one. The relative strength index is below its neutrality level at 50 and lacks upward momentum. In addition, 147.60 is playing a key resistance role, which should limit the upside potential. […]

NZD/USD is expected to trade with a bearish outlook. The pair broke below its former key support at 0.7370, which becomes a key resistance now, and is consolidating on the downside. The relative strength index is below its neutrality level at 50 and lacks upward momentum. The declining 50-period moving average is playing a resistance […]

ECB set to keep rates and policy unchanged, focus will be on the press conference, analysts are forecasting Draghi to try and talk down Euro. Bank of Japan are expected to keep policy unchanged and remain ultra east and dovish due to low inflation. UK CPI in focus. USD could remain on the back foot. […]

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