Gold Analysis for March 07, 2016 Overview : Since our last analysis, gold has been trading upwards. As I expected, the price tested the level of $1,279.67. Anyway, in the daily time frame, I found a a supply bar (up thrust), which is a sign of weakness. Intraday buying at this stage looks risky...
USD/CAD Intraday Technical Levels and Trading Recommendations for March 7, 2016 A bullish breakout above the previous consolidation zone between 1.2400 and 1.2800 was performed on July 15 (shown on the weekly chart). A significant bearish rejection was observed around 1.3450...
Dear Friends, This week we have below high impact news schedule which may be tradable. Wednesday, March – 9, 2016...
Despite encouraging Australian growth data, UBS analyst team stays bearish on the AUD and still targets AUD/USD 0.68 on a three-month basis and 0.65 on a six and 12-month basis. They explain how the growth “miracle” looks a little different after scratching the surface...
In opinion of the research team at UOB Group, the pair remains poised for further consolidation in the next weeks. Key Quotes “USD traded sideways as expected with a range of 113.15/114.25 which is close to our expectation of 113.10/114.15...
Traders are treading cautiously this Monday morning after a rather clouding Non-farm Payrolls report and the Chinese National People’s Congress over the weekend set out a growth rate of 6.5% to 7.0% for the next year. Wall Street closing higher (S&P 500 up 0...
Dear Traders, We welcome you to a new trading week. Before coming to this week's main risk event - the European Central Bank meeting on Thursday - let us briefly look back at last Friday's Non-Farm Payrolls report...
EURGBP- The cross took back all of its previous week gains to close lower the past week. This development leaves risk lower in the new week. Support comes in at 0.7700 level. Further down, support lies at the 0.7650 level where a violation will turn focus to the 0.7600 level...
07 March 2016, Time of Writing: 09:00 am Trader Daily Market Update Major Calendar News Time (GMT) Name Country Vol. Prev. Cons. Sentiment 09:10 MPC Member Haldane Speech GBP Med. - - Dovish All Day Eurogroup Meetings EUR Med. - - Neutral 18:00 FOMC Member Brainard Speech USD Med...
Amid the pessimistic influence of the U.S. labor market data, the dollar dipped significantly. For #GBPUSD this meant achieving of the 50% retracement level of the latest wave of decline 4-29 February. The current movement is developing within the upward channel...
Facing up to the ECB Friday’s US employment report did not lead to a sea change in the tone on the dollar. The better headline reading mean that the improved tone to risk assets remained in place, which allowed equities to close into positive territory...
Technical Analysis of USD/CHF for March 07, 2016 USD/CHF is expected to advance further. The pair continued posting technical rebounds and is now challenging its nearest resistance at 1.0030...
Technical Analysis of NZD/USD for March 07, 2016 The upside movement is expected to prevail in NZD/USD. The pair remains well on the upside, backed by its rising 20-period and 50-period moving averages. The relative strength index is mixed to bullish above its neutrality area at 50...
Technical Analysis of GBP/JPY for March 07, 2016 GBP/JPY is expected to trade in a higher range. The pair remains bullish above 160.50, representing a key horizontal level. The rising 50-period moving average plays a support role well...
Elliott Wave Analysis of EUR/NZD for March 7 - 2016 Wave summary: We have just seen the expected test of support at 1.6110 (the pair hit the low at 1.6085). We are now looking for a break above minor resistance at 1...
Elliott Wave Analysis of EUR/JPY for March 7 - 2016 Wave summary: With the break above minor resistance at 125.01 the possible running triangle was invalidated and instead the expanded flat correction took over as a preferred corrective pattern. Red wave c should ideally make it to 126...
Technical Analysis of EUR/USD for March 07, 2016 When the European market opens, some economic news will be released such as Eurogroup Meetings, Sentix Investor Confidence, and German Factory Orders m/m...
The Loonie tumbled more than 12% against the USD from the middle of October 2015 through the middle of January 2016 in a more or less one-way move. Import prices are rising on the back of the weaker currency, thus also sending consumer prices higher...
