The USDJPY continues its appreciation with prices now seen trading near the 114.00 handle. The strong ascent have managed to push USDJPY closed to testing the May 10th highs of 114.37. Establishing resistance here could see a short-term decline back to the lower support at 112.00. However, a breakout above 114.37 could keep the bullish momentum going. In the...
The British pound posted strong depreciation on Friday after price reversed near the resistance level of 1.2975 as expected. The declines came as the UK’s industrial and manufacturing production data was weaker than expected. Industrial output fell 0.1% while manufacturing production declined 0.2% on the month. The GBPUSD decreased to a 7-day low, closing on...
The EURUSD tried to rally back to the $1.1400 last week. The positive gains on Thursday were partly removed by Friday’s depreciation as EURUSD closed at 1.1403. In the short term, price action is likely to trade within a range ahead of key events this week that includes the semi-annual testimony to Congress by Fed Chair, Janet Yellen. The lower high formed in...
The EURUSD recovered sharply and came back above $1.1400 handle. The gains came as the ECB policy meeting minutes showed that members were considering to stop further easing. So far, the euro is reacting positively to any hints of hawkish messages from the ECB. The rally to 1.1400, however, comes with risk. A possibility of a lower high forming here could signal a...
GBPJPY shows that price has set a new high and broke very important resistance at 146.00. We can see strong growth impulse that points to strong advantage of bears. Currently price is moving towards previous high and resistance at the psychological level of 148.00. Breaking it will open the way for further appreciation. Decrease below the support level of 146.00...
Weekly graph of GBP/NZD shows a bullish period where most of recent candles were bullish . This period lasts from November last year. Currently structure of lows and highs indicates an upward trend. However, in last few months, there have been declines that slow down along the trend line. On W1 was set another pattern of bullish engulfing bar which quite often...
GOLD on H1 chart is in a lasting over a month descending trend. Lately GOLD moves between support 1218.00 and resistance in area of 1228.00. Price oscillates near resistance preparing to second rebound from this area. It seems that, according to the sentiment, in near future we can await declines. In this context, consider short position.
GOLD on H1 chart is in a lasting over a month descending trend. Lately GOLD moves between support 1218.00 and resistance in area of 1228.00. Price oscillates near resistance preparing to second rebound from this area. It seems that, according to the sentiment, in near future we can await declines. In this context, consider short position.
Weekly graph of GBP/NZD shows a bullish period where most of recent candles were bullish. This period lasts from November last year. Currently structure of lows and highs indicates an upward trend. However, in last few months, there have been declines that slow down along the trend line. On W1 was set another pattern of bullish engulfing bar which quite often...
GBPJPY shows that price has set a new high and broke very important resistance at 146.00. We can see strong growth impulse that points to strong advantage of bears. Currently price is moving towards previous high and resistance at the psychological level of 148.00. Breaking it will open the way for further appreciation. Decrease below the support level of 146.00...
On H4 chart we observe a downward movement, which began from test of this year’s high set by series of peaks from mid-May. So far declines are not violent but reaching new lows can trigger a stronger supply response. Price should then move towards next support at 1.2810-20. Last candles look bearish so declines are likely. In this context, consider short position...
AUDUSD is in a short-term bullish trend , where highs and lows are set on higher levels. As we can see on H4 chart below, yesterday trend line and horizontal support around 0.7628 was broken. Today, both the trend line and broken support are tested as new resistance. Currently we can not yet talk about change of trend, such change in short-term trend will only...
USD/JPY – On H4 chart there is an uptrend. Recently there has been a slight correction and price went back to previous highs. In this area, demand occurred twice creating pinbars. Such price behavior may indicate continuation of trend and rebound upward from support. We can consider long position.
USD/JPY – On H4 chart there is an uptrend. Recently there has been a slight correction and price went back to previous highs. In this area, demand occurred twice creating pinbars. Such price behavior may indicate continuation of trend and rebound upward from support. We can consider long position.
AUDUSD is in a short-term bullish trend, where highs and lows are set on higher levels. As we can see on H4 chart below, yesterday trend line and horizontal support around 0.7628 was broken. Today, both the trend line and broken support are tested as new resistance. Currently we can not yet talk about change of trend, such change in short-term trend will only...
On H4 chart we observe a downward movement, which began from test of this year’s high set by series of peaks from mid-May. So far declines are not violent but reaching new lows can trigger a stronger supply response. Price should then move towards next support at 1.2810-20. Last candles look bearish so declines are likely. In this context, consider short position...
SILVER on H4 shows recently very strong declines. Price reached level of one of the earlier lows. It seems that now a correction should occur. Support should therefore serve at least to a short-term rebound. So in the short term, you should consider long position.
Since mid-April, GBPUSD is moving in a consolidation between support at 1.2660 and resistance at 1.3030. Less than two weeks ago, it seemed that bears will win and support area 1.2660 would be broken. However, this did not happen and bulls after a temporary descent below the support managed to derive a dynamic reflection that ended again last Friday at 1.3030...