Wednesday, December 28, 2016

Gold has posted slight gains in the Tuesday session.

Gold has posted slight gains in the Tuesday session. In North American trade, the spot price for one ounce stands at $1137.32. On the release front, CB Consumer Confidence climbed to 113.7, easily exceeding the estimate of 108.9. On Wednesday, the US releases Pending Home Sales, with the markets expecting a strong gain of 0.6%.
As 2016 wraps up, US consumer confidence indicators continue to move upwards in what analysts are describing as a post-election surge in optimism. The CB Consumer Confidence report surged in December to 113.7, its highest level since August 2001. This reading comes on the heels of UoM Consumer Sentiment, which climbed to a 12-year high, with a reading of 93.8 points. Clearly, consumers are optimistic that the economy will continue to improve under Donald Trump. Both of these well-respected surveys found that consumers are confident that continuing economic growth will create new jobs and raise incomes. Trump’s economic platform remains short on details, but he has promised to cut taxes while increasing fiscal spending.

Tuesday, December 27, 2016

USD/JPY Chart

Summary : Target Level : 118.2445
Target Period :
3 days

Analysis :
Triangle identified at 27-Dec-05:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 118.2445 within the next 3 days.

Supporting Indicators :
Upward sloping Moving Average

Resistance Levels :
( B ) 118.2445Last resistance turning point of Triangle.

Support Levels
( A ) 117.1475Last support turning point of Triangle.


Chart date range :
07-Dec-13:00 GMT-> 27-Dec-09:00 GMT
Data interval : 4 hour
RSI:34 Candles
MA:34 Candles

Monday, December 26, 2016

EUR/JPY Chart

Summary : Target Level : 121.6825Target Period : 3 days
Analysis :
Triangle identified at 22-Dec-21:00 2016 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 121.6825 within the next 3 days.

Supporting Indicators :
Downward sloping Moving Average

Resistance Levels :
( B ) 123.1995Last resistance turning point of Triangle.

Support Levels
( A ) 121.6825Last support turning point of Triangle.


Chart date range :
30-Nov-13:00 GMT-> 24-Dec-01:00 GMT
Data interval : 4 hour
RSI:34 Candles
MA:34 Candles

Wednesday, December 21, 2016

GBP/USD Chart

Summary : Target Level : 1.2496Target Period : 2 days
Analysis :
Falling Wedge has broken through the resistance line at 21-Dec-05:00 2016 GMT. Possible bullish price movement forecast for the next 2 days towards 1.2496.

Resistance Levels :
( B ) 1.2499Last resistance turning point of Falling Wedge.

Support Levels
( A ) 1.2313Last support turning point of Falling Wedge.



Chart date range :
07-Dec-01:00 GMT-> 21-Dec-09:00 GMT
Data interval : 4 hour
RSI:34 Candles
MA:34 Candles

Tuesday, December 20, 2016

EUR/USD

Summary : Target Level : 1.0451Target Period : 2 days
Analysis :
Triangle identified at 20-Dec-04:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.0451 within the next 2 days.

Resistance Levels :
( B ) 1.0451Last resistance turning point of Triangle.

Support Levels
( A ) 1.0393Last support turning point of Triangle.


Chart date range :
13-Dec-00:00 GMT-> 20-Dec-06:00 GMT
Data interval : 1 hour
RSI:34 Candles
MA:34 Candles

Tuesday, December 13, 2016

Always take note of the risks involved

 Be smart and what you are particularly risking in the exchanges. Always trade in reasonable sizes.  Some markets inside exchanges are able to make it possible for individuals to trade very large amounts of leverage. And so, a lot of people trade in large quantities in order to assure larger profits. However, doing this may also open up the possibility of losing money in such large quantities as well. It is always wiser to scale your trades in order to lessen risks. Never trade sizes that can wipe you out of all your money. And you would have nothing to lose if you actually start small, and grow your trading transactions from there.
   Identify market trends before trading  It is also very important that you are aware of how the market is doing before you start trading. Remember to learn if trends are going up or down. If the you know whether the market trends are weak or strong then it may become easier for you to make the right decisions in your transactions. By getting a good picture of the situations in the market, you can easily lay down a plan for conducting a successful trade. Things would become easier for you to foresee what must be done when you have a good idea on what may happen.

dollar wavered Tuesday as investors stuck to the sidelines

The dollar wavered Tuesday as investors stuck to the sidelines a day ahead of the Federal Reserve's latest policy decision.
The WSJ Dollar Index, which measures the U.S. currency against 16 others, was down 0.03% at 91.29. The pound was among the best-performing major currencies against the dollar, rising 0.4% after strong U.K. inflation data.
The Fed will announce its latest policy decision Wednesday, and investors widely expect the central bank to lift U.S. borrowing costs for the first time in a year.
Investors' focus will be on the Fed's statements for hints that the central bank could raise interest rates more aggressively going forward.
Higher rates typically boost the dollar by making dollar assets more attractive to yield-seeking investors.
"We expect further U.S. dollar strength as the market re-prices more tightening from the Fed," said analysts at Goldman Sachs in a research note. "That said, we also think that [Chairwoman Janet] Yellen will continue to emphasize that...data will dictate the future path of interest rates."

USD/CAD

Summary :
Target Level : 1.3297
Target Period : 2 days

Analysis :
Channel Down identified at 12-Dec-17:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.3297 within the next 2 days.

Supporting Indicators :
RSI below 40

Resistance Levels :
( B ) 1.3297Last resistance turning point of Channel Down.

Support Levels
( A ) 1.3114Last support turning point of Channel Down.



Chart date range :
25-Nov-05:00 GMT-> 13-Dec-09:00 GMT
Data interval : 4 hour
RSI:34 Candles
MA:34 Candles

Wednesday, December 7, 2016

EUR/USD--which last trades up 0.21% at $1.0741

 EUR/USD--which last trades up 0.21% at $1.0741--to hover around $1.07 heading into Thursday's European Central Bank policy decision and press conference by President Mario Draghi. ING's expectation for a two-quarter extension to quantitative easing, with no signal of any intention to taper monetary accommodation, "should be EUR neutral as it would partly keep concerns about Italy at bay." ING's forecast is in line with most other analysts' forecasts.

Tuesday, December 6, 2016

USD/CHF

Summary :
Target Level : 1.0183
Target Period : 2 days

Analysis :
Channel Down identified at 06-Dec-04:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.0183 within the next 2 days.

Resistance Levels :
( B ) 1.0183Last resistance turning point of Channel Down.

Support Levels
( A ) 1.0051Last support turning point of Channel Down.


Chart date range :
28-Nov-22:00 GMT-> 06-Dec-06:00 GMT
Data interval : 30 Minutes
RSI:34 Candles
MA:34 Candles

Monday, December 5, 2016

Canadian dollar has posted gains on Monday

The Canadian dollar has posted gains on Monday, continuing the upward movement which marked the Friday session. In North American trade, USD/CAD is trading at the 1.3270 level. On the release front, today’s key event is US ISM Non-manufacturing PMI. The index is expected to improve to 55.3 points. There are no Canadian releases on the schedule.
Employment numbers were on center stage on Friday, as both Canada and the US released key employment indicators. In the US, the numbers were a mix.  readings were mixed. Nonfarm Payrolls improved to 178 thousand, edging above the forecast of 177 thousand. This marked a 4-month high. However, Average Hourly Earnings, which measures wage growth, surprised with a decline of 0.1%, short of the estimate of 0.2%. This was the first decline in wage growth since March. The unemployment rate dropped to just 4.6%, well below the forecast of 4.9%. The strong labor market has been a key factor in the strong US economy, which saw GDP grow at a clip of 3.2% in the third quarter. Canadian employment indicators were solid, as Employment Change gained 10.7 thousand, much better than the estimate of -16.5 thousand. As well, the unemployment rate dropped to 6.8%, below the forecast of 7.0%. The Canadian dollar responded with gains, as USD/CAD dropped to 1.3254, its lowest level since mid-October.
  • USD/CAD showed limited movement in the Asian and European sessions. The pair has recorded considerable losses early in North American trade
  • 1.3253 has weakened in support following losses by USD/CAD
  • 1.3371 is the next resistance line
  • Further levels in both directions:
    • Below: 1.3253, 1.3120 and 1.3026
    • Above: 1.3371, 1.3457, 1.3551 and 1.3648
    • Current range: 1.3253 to 1.3371
    • USD/CAD ratio is unchanged in the Monday session. Currently, short and long positions are almost evenly split , indicative of a lack of trader bias as to what direction USD/CAD will take next.

    USD/JPY has posted gains in the Asian and European sessions

    •USD/JPY has posted gains in the Asian and European sessions
    •113.86 has switched to a support role following gains by USD/JPY
    •114.83 is the next line of resistance
    •Current range: 113.86 to 114.83
    Further levels in both directions:
    •Below: 113.86, 112.48, 111.45 and 110.24
    • Above: 114.13, 115.45 and 116.88
    USD/JPY ratio is almost unchanged in the Monday session. Currently, short positions have a strong majority (58%), indicative of trader bias towards USD/JPY continuing to move lower.
    USD/JPY has started the week with strong gains. Currently, the pair is trading at 114.30. On the release front, Japanese Consumer Confidence dropped to 40.3 points, missing expectations. In the US, today’s key event is ISM Non-manufacturing PMI. The index is expected to improve to 55.3 points.

    Thursday, December 1, 2016

    A MarketRiders portfolio


    A MarketRiders portfolio is constructed using the lowest-cost, most tax efficient, well-constructed exchange-traded funds (ETFs) that have average annual fees of 0.2%. You might not think that's a big difference. But here's how big it is. Take a $100,000 portfolio. Using the long-term average growth of stock and bond portfolio of 8% a year, compounding your gains over 20 years, and deducting the 3% in fees and taxes, you'd have $265,329. But if your fees and taxes were 0.2% instead of 3%, you would have $449,133. Online Wealth Management - MarketRiders

    EUR/USD

    Summary :
    Target Level : 1.0565
    Target Period : 12 hours

    Analysis :
    Pennant identified at 30-Nov-17:00 2016 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.0565 within the next 12 hours.

    Supporting Indicators :
    Downward sloping Moving Average

    Resistance Levels :
    ( B ) 1.0667Last resistance turning point of Pennant.

    Support Levels
    ( A ) 1.0565Last support turning point of Pennant.



    Chart date range :
    17-Nov-09:00 GMT-> 01-Dec-09:00 GMT
    Data interval : 4 hour
    RSI:34 Candles
    MA:34 Candles