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.

USD/CAD edged lower in the Asian session

•USD/CAD edged lower in the Asian session and has recovered in European trade
•1.3003 is providing support
•1.3120 remains a weak resistance line
Further levels in both directions:
•Below: 1.3003, 1.2922 and 1.2815
•Above: 1.3120, 1.3253, 1.3371 and 1.3461
•Current range: 1.3003 to 1.3120
USD/CAD ratio is showing strong movement towards short positions. Currently, short positions have a majority (55%), indicative of trader bias towards USD/CAD reversing directions and moving lower.
USD/CAD has posted slight losses and is under pressure in the Tuesday session. Early in North American session, the pair is trading slightly above the 1.32 level. On the release front, Canadian RMPI, which measures manufacturing inflation, dropped to 1.7%, but this beat the estimate of 1.3%. In the US, revised GDP remained unchanged at 1.9%, shy of the forecast of 2.1%. Next is CB Consumer Confidence, which is expected to drop to 111.3 points. As well, President Donald Trump will address a joint session of Congress.

Monday, February 27, 2017

USD/JPY Chart

Summary : Target Level : 113.6565
Target Period :
3 days

Analysis :
Falling Wedge identified at 27-Feb-05:00 2017 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 113.6565 within the next 3 days.

Resistance Levels :
( B ) 113.6565Last resistance turning point of Falling Wedge.

Support Levels
( A ) 111.9365Last support turning point of Falling Wedge.


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

Wednesday, February 22, 2017

USD/CHF

Summary : Target Level : 0.9967
Target Period :
3 days

Analysis :
Triangle identified at 22-Feb-02:00 2017 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.9967 within the next 3 days.

Supporting Indicators :
RSI above 60

Resistance Levels :
( B ) 1.0106Last resistance turning point of Triangle.

Support Levels
( A ) 0.9967Last support turning point of Triangle.


Chart date range :
06-Feb-09:00 GMT-> 22-Feb-06:00 GMT
Data interval : 1 hour
RSI:34 Candles
MA:34 Candles

Wednesday, February 15, 2017

EUR/JPY Chart

Summary : Target Level : 121.5149
Target Period :
3 days

Analysis :
Triangle has broken through the resistance line at 14-Feb-17:00 2017 GMT. Possible bullish price movement forecast for the next 3 days towards 121.5149.

Supporting Indicators :
Upward sloping Moving Average

Resistance Levels :
( B ) 121.1255Last resistance turning point of Triangle.

Support Levels
( A ) 120.2185Last support turning point of Triangle.


Chart date range :
24-Jan-09:00 GMT-> 15-Feb-09:00 GMT
Data interval : 4 hour
RSI:34 Candles
MA:34 Candles

Monday, February 13, 2017

USD/CHF Chart

Summary : Target Level : 0.9937
Target Period :
2 days

Analysis :
Channel Up identified at 12-Feb-23:00 2017 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.9937 within the next 2 days.

Resistance Levels :
( B ) 1.0062Last resistance turning point of Channel Up.

Support Levels
( A ) 0.9937Last support turning point of Channel Up.


Chart date range :
01-Feb-16:00 GMT-> 13-Feb-06:00 GMT
Data interval : 1 hour
RSI:34 Candles
MA:34 Candles

Thursday, February 9, 2017

Gold has posted losses on Thursday

Gold has posted losses on Thursday, erasing the gains seen in the Wednesday session. In North American trade, the spot price for one ounce is $1232.86. In economic news, unemployment claims dipped fell to 234 thousand, well short of the forecast of 249 thousand. On Friday, the major event in the US is UoM Consumer Sentiment,with an estimate of 97.9 points.

Wednesday, February 8, 2017

USD/CAD has reversed directions

USD/CAD has reversed directions, posting slight gains in the Wednesday session. Currently, the pair is trading at 1.3150. On the release front, Canada will release Housing Starts, which is expected to remain above the 200K level, with the estimate standing at 202 thousand. There are no major US events on the schedule. On Thursday, the US releases the weekly unemployment claims report, which is expected to rise to 249 thousand. As well, the weekly crude oil inventories report will be released. Another strong surplus is expected, with an estimate of 202 thousand.

Thursday, February 2, 2017

EUR/USD Chart

Summary : Target Level : 1.062
Target Period :
3 days

Analysis :
Channel Up identified at 01-Feb-17:00 2017 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.0620 within the next 3 days.

Resistance Levels :
( B ) 1.0812Last resistance turning point of Channel Up.

Support Levels
( A ) 1.062Last support turning point of Channel Up.


Chart date range :
11-Jan-09:00 GMT-> 02-Feb-09:00 GMT
Data interval : 4 hour
RSI:34 Candles
MA:34 Candles