FUNDAMENTALS: Gold prices might see some more consolidation next week as the metal’s safe-haven allure continues to lose traction, according to analysts. But, the Federal Reserve meeting could offer surprising support to the yellow metal. Even bullish gold analysts are admitting that the precious metal could retreat a bit further next week, especially after...
EURUSD parity stuck between solid points of support and resistance. On the top-side, we have strong long-term resistance by way of the 2012 low (two reversal days – 8/29 & 9/8 – as evidence of sellers), while on the bottom-side lies the trend-line rising up from April in confluence with support around 1.08200. It seems that the direction of the EURUSD movement...
EURUSD Daily Technical Analysis and Forecast EURUSD tested 1.18400 support yesterday and reacted from this support towards 1.19200.The ECB’s Jazbec said that tapering was inevitable, which helped buoy the exchange rate despite softer than expected inflation figures from both France and Italy. U.S. CPI was hotter than expected which initially gave the greenback a...
H4 Chart : CADJPY Downside Action stopped at 85.43 with the support of Fibonacci 50% extension line . Price touched MA50 and one of the important resistance level 86.70 I will enter LONG trade @ 86.70 TP 1 : 87.70 TP 2 : 89.50 SL : 86.00 Risk Reward Ratio : 3.02 Good Luck
Fibonacci was re-tested as indicated in my previous article and worked as a strong support. The price reacted upward from that level. I want to draw attention to RSI at this point. We see a small divergince between the price action and RSI . And RSI gives fatigue signals.This may indicate that the short cyclical decline is over. We may enter a LONG Trade...
Looking at the Fibonacci Lines ,there is a good trade opportunity on USDCAD 0.38% pair. 1.27600 is the Fibonacci Retracement level % 23.60 and downtrend has not been changed . So we enter a SHORT trade 1.27500 SL 1.29500 TP 1 : 1.24 TP 2: 1.22 A good risk reward ratio . Good Luck www.fxters.com
GBPNZD pair made a pullback after BOE statement and tested 1.75600 level. This was the MA support level as well. As mentined in my previous trade idea on GBPNZD big profit area has already been confirmed for me. GBPNZD price is above the MA50 on Daily Chart. The first target will be the level which is tested before BOE statement. Breaking of 1.79000 will carry...
Silver Non-Commercial Speculator Positions: Large speculators continued to push their bullish net positions higher in the silver futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Silver futures, traded by large...
The barrel of West Texas Intermediate came under a heavy selling pressure on Friday and lost nearly 2.5 % to drop to a 3-day low at $47.50. Crude Oil has been a hard market to pin down lately due to the sharp rally within a Bear market. Naturally, the first thought would be that a natural disaster would boost commodity demand. However, Crude Oil is already over...
We predict a STRONG BULLISH action on GBPJPY. So we enter a new trade as follow : GBPJPY TRADE: LONG ENTRY : 142.000 TP1 : 142.900 TP2: 143.600 SL: 141.000
Oil prices ended a bit higher on Friday but still posted a weekly loss as energy markets continued to weigh what the impact of Harvey will be on crude production and refinery demand in the Gulf of Mexico region. When the Crude Oil market is discussed, typically there is a conversation about the end user demand such as economic growth, and consumption demand with...
This week offers the Australian Dollar market some heavyweight economic news. But whether it will have the punch to shake the currency (and AUD/USD especially) out of its long torpor must be debatable. We have mentioned several times that 0.80000 is a strong resistance for AUDUSD. We believe that this week 0.80000 level will be broken. RSI and MACD confirm the...
As seen on Daily Chart GBPUSD is pricing in an uptrend channel but can not break above the physiological level of 1.30000. We will not enter a SHORT trade as long as The Cable holds above 1.27500. Key levels for today: 1.28890 and 1.28480. We will use any price movement to those levels as a BUY opportunity and we will watch the breakout of 1.29900 to add LONG positions.
Fundamentals : Crude oil prices rebounded after three consecutive days of losses. The move may have followed from the announcement that Harvey has been downgraded to from a tropical storm to a “depression”, hinting that US refining capacity – which has been brought to a seven-year low – may start to be rebuilt relatively soon. Pipeline and refinery closures...
WTI Crude Oil Forecast August 31th 2017 Highlights of Fundamental And Latest News Crude oil prices were narrowly mixed in Asia on Thursday as sentiment was underpinned regionally by China’s official manufacturing PMI, though the market is now largely driven by the stoppages and damaged caused by Hurricane Harvey along the U.S. Gulf Coast. Yesterday’s EIA Data...
Today is Wednesday and again will be high volatility on CRUDE OIL futures due to EIA Crude Oil Inventories reports. Oil continues to be a game of two halves, with Brent reacting positively to the overnight American Petroleum Institute’s (API) crude inventory data, while WTI continued to sag as Hurricane Harvey necessitated refinery shutdowns, leaving U.S. crude...
As you know we do not trade BITCOIN crosses. BTCUSD H4 Chart But we are getting a lot of requests from our members. Here is our technical analysis of BTCUSD. Our Analysis based on Fibonacci Circles and Retracement Lines. They work well together in some cases as BTCUSD. Fibonacci Retracement 127% worked well as a resistance. Current price is 4670. Above the...
The euro advanced to its strongest level in more than two years, hours after North Korea fired a ballistic missile over Japan. Core European bonds rallied as risk-off sentiment spread across the globe. Technical Overview of EURUSD EURUSD is being priced @ 1.20500, highest level of last one year. As seen on H1 chart, 1.20500 is the Fibonacci Extension and will...