Wednesday, March 22, 2017

EUR/CHF Chart

Summary : Target Level : 1.0684
Target Period :
3 days

Analysis :
Descending Triangle identified at 22-Mar-04:00 2017 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.0684 within the next 3 days.

Resistance Levels :
( B ) 1.0761Last resistance turning point of Descending Triangle.

Support Levels
( A ) 1.0684Last support turning point of Descending Triangle.


Chart date range :
01-Mar-13:00 GMT-> 22-Mar-08:00 GMT
Data interval : 4 hour
RSI:34 Candles
MA:34 Candles

Tuesday, March 21, 2017

EUR/JPY

Summary : Target Level : 122.253
Target Period :
2 days

Analysis :
Channel Down identified at 21-Mar-04:00 2017 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 122.2530 within the next 2 days.

Supporting Indicators :
Upward sloping Moving Average

Resistance Levels :
( B ) 122.253Last resistance turning point of Channel Down.

Support Levels
( A ) 120.8215Last support turning point of Channel Down.


Chart date range :
09-Mar-11:00 GMT-> 21-Mar-06:00 GMT
Data interval : 1 hour
RSI:34 Candles
MA:34 Candles

Monday, March 20, 2017

USD/CAD Chart

Summary : Target Level : 1.3277
Target Period :
2 days

Analysis :
Falling Wedge identified at 20-Mar-04:00 2017 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.3277 within the next 2 days.

Supporting Indicators :
Downward sloping Moving Average

Resistance Levels :
( B ) 1.3356Last resistance turning point of Falling Wedge.

Support Levels
( A ) 1.3277Last support turning point of Falling Wedge.


Chart date range :
02-Mar-17:00 GMT-> 20-Mar-08:00 GMT
Data interval : 4 hour
RSI:34 Candles
MA:34 Candles

Wednesday, March 15, 2017

Professional Fund Managers


The Forexmentor Live! interactive training in trading Forex includes unlimited access to the live trading classroom, detailed tutorial videos used in trading client accounts, a step-by-step guide to the LPT Method, technical analysis, detailed presentations throughout the day, live Trade Alerts, access to Professional Fund Managers, access to live news feeds in real time and so much more.

EUR/USD remains under pressure

EUR/USD remains under pressure, as the pair has dropped closed to the 1.06 line. Currently, the pair is trading at 1.0630. On the release front, Eurozone Employment Change edged up to 0.3%, above the forecast of 0.2%. In the US, it’s a busy day. Retail sales and CPI indicators are expected to soften in February. Today’s highlight is the Federal Reserve policy meeting, with the central bank widely expected to raise the benchmark rate a quarter-point, from 0.50% to 0.75%. On Thursday, the eurozone releases Final CPI, while the US publishes a host of key indicators, led by unemployment claims.

USD/CAD is almost unchanged in the Wednesday session

USD/CAD is almost unchanged in the Wednesday session. Currently, the pair is trading at 1.3450. On the release front, it’s a very busy day in the US. Retail sales and CPI indicators are expected to soften in February. Today’s highlight is the Federal Reserve policy meeting, with the central bank widely expected to raise the benchmark rate a quarter-point, from 0.50% to 0.75%. There are no Canadian events on the schedule. On Thursday, the US publishes a host of key indicators, led by unemployment claims.
•USD/CAD has inched lower in the Asian and European sessions
•1.3371 is providing support
•1.3461 is fluid. Currently, it is a weak resistance line
Further levels in both directions:
•Below: 1.3371, 1.3253 and 1.3120
•Above: 1.3461, 1.3551, 1.3672 and 1.3784
•Current range: 1.3371 to 1.3461
USD/CAD ratio is showing movement towards short positions. Currently, long positions have a strong majority (66%), indicative of trader bias towards USD/CAD continuing to move higher.

Tuesday, February 28, 2017

USD/JPY has posted slight losses in the Asian

USD/JPY has posted slight losses in the Asian and European sessions
•110.94 is providing support
•112.57 has switched to a resistance role following losses by USD/JPY
•Current range: 110.94 to 112.57
Further levels in both directions:
•Below: 110.94, 109.77 and 109.18
• Above: 112.57, 113.80, 114.83 and 115.90
USD/JPY ratio has posted slight gains in short positions. Currently, long positions have a majority (60%), indicative of trader bias towards USD/JPY reversing directions and moving upwards.
USD/JPY has recorded losses in the Tuesday session, erasing the gains from Monday. Currently, USD/JPY is trading at 112.20. On the economic front, Japanese numbers were mixed. Preliminary Industrial Production declined 0.8%, well off the estimate of +0.4%. This was the first decline in 8 months. Retail Sales improved to 1.0%, edging past the forecast of 0.9%. In the US, Preliminary GDP is expected at 2.1%. As well, CB Consumer Confidence is forecast to dip to 111.3 points. As well, President Donald Trump will address a joint session of Congress.