SUNBIRD Daily Technical Analysis

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Dear forum members,

Follow forex news and events with our daily analysis. At Sunbird we provide a detailed commentary of what is happening in forex and CFD trading, using technical and fundamental analysis. We give you the daily forex information that matters and keep you informed so that you make better trading decisions.

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SUNBIRD International Ltd

 

Daily Analysis 2014-05-01

EURUSD-The pair is at a two day high of 1.3870. If it crosses 1.3880, it may go up to 1.3960, the 50% Fibonacci.

If it crosses 1.3850, it may go down to 1.3825, the MA 200 on the 1-hour graph, and then to 1.3785.

GBPUSD- The pound is still looking strong against the dollar. If it crosses 1.6900, it can go up to 1.6990.

If it crosses the support point at 1.6855, it may go down to 1.6830, followed by 1.6800, the MA 200 on the 1-hour graph.

GBPJPY-The resistance point for this pair is at 172.82. If the pair crosses the point, it can go up to 173.60.

The support point is at 172.17, the MA 200 and 100 on the 1 hour graph. If the pair crosses that, it may reach 171.50, the MA 100 on the 4-hour graph.

AUDUSD- The pair is currently above the MA 200 of 0.9293 on the 1 hour graph. It may move up to 0.9330, which is the MA 100 on the 4-hour graph.

The support point is at 0.9271, the MA 100 on the 1-hour graph. If the pair crosses it, the next point is at 0.9245, the MA 200 on the 4-hour graph.

Important data for today:

GBP-11:30- Manufacturing PMI

USD-15:30- Fed Chair Yellen Speaks

17:00- ISM Manufacturing PMI

 

Daily Analysis 2014-05-05

EURUSD showed its strength last Friday. Following the release of the NFP, the pair tumbled to the past (20) EMA and quickly rose back. This week we may see new highs.

NZDUSD is trading at the 0.8660 resistance point and may fall down to the 0.86 support level.

GBPJPY is at 171.97, just above the 20 EMA, where it may find support.

CRUDE OIL is at a BUY point at 99.35, and may reach 100 today. It is getting support from the 200 EMA and its possible that the commodity found its bottom in this area.

GOLD is back above the 1300 mark. For the short term, we are expecting more movement sideways before any trend will reveal itself.

Economic Calendar

17:00 - ISM Non-Manufacturing PMI (USD)

 

Daily Analysis 2014-05-07

EURUSD soared to 1.395 yesterday and is now trading at 1.393. The pair may now take a break from its upward movement and seek support at 1.39 or even lower.

NZDUSD slumped during overnight trading to 0.8690. This is likely just a correction after the massive movement we saw last week. The next support for this rally is at 0.8635.

USDJPY is at 101.57. The medium trend for the pair is downward, although it is likely to find support in this area and go back to 102 before dropping down to the 100 level again.

CRUDE OIL still trying to convince investors that its current level is a good point to buy the the commodity, as it opened the day with a gap up. We will likely see it once more drop below 99, only after which it will be ready to reverse and cross the $100 level.

S&P500 seems to be getting higher and higher, and is likely to reach 1850 in the next few days. The trend is still very bullish, and it does not look like the recent increases will be the last ones.

Economic News

15:30 - Building Permits m/m (CAD)

17:00 - Fed Chair Yellen Testifies (USD)

 

Daily Analysis 2014-05-08

EURUSD- The euro is still looking strong against the dollar. The euro, currently at the moving average 50, is trading at 1.3920. If it crosses this point, it can reach the area of 1.3950 followed by 1.4050. If the euro drops down below 1.3890 on the MA-100, it may fall to 1.3860 followed by 1.3810.

USDCAD- The pair is below all moving averages on 1 and 4 hour graphs. On the daily graph, the pair is trying to reach the MA-200 at 1.0730. It may reach that point if it crosses yesterday's low of 1.0846.

CRUDE OIL- Oil, currently at the MA-200 on the 1 hour graph, is trading at 100.00. If it crosses that point, it may drop down to 99.40. If it remains strong, oil can reach the MA-200 on the 4 hour graph at 100.84.

USDJPY-The pair is near the sport point at 101.72. If it crosses this point, it can go down to 101.07 on the MA-200 daily graph.

Resistance is at 101.94. If the pair crosses this point it can go up to 101.15 on the MA-200 1 hour graph.

Important data for today:

14:00-GBP- Asset Purchase Facility

Official Bank Rate

15:30- EUR- ECB Press Conference

15:30- USD- Unemployment Claims

16:30- USD- Fed Chair Yellen Testifies

 

Daily Analysis 2014-05-09

EURUSD- Euro falls yesterday's sharp decline of-160 pips. Euro close to the moving average 200 on the 4 hour graph, if it cross it can go down to-1.3780 at first and then to- 1.3740 on the MA-100 daily graph.

AUDUSD- The pair is now on the moving average 50-0.9352 1 hour grapg, when cross it can go down to- 0.9330 at firs and then to-0.9295 on the MA-200 .

USDCHF- The pair got strong ans seems to go up to the MA-200 4 hour graph at-0.8820, then it can go up to- 0.8890 on the MA- 100 daily graph.

GBPUSD- The pair is now on the moving average 100 1 HOUR GRAPH- 1.6930, if it will cross it can go up to- 1.6954 at first and then to-1.6990 month high.

If the pound does not cross the moving average 100 it can go down toward the MA-200 at- 1.6900 at first and then to- 1.6860.

 

Daily Analysis 2014-05-12

EURUSD may try and find an upward correction following the large drop we saw before the weekend. 1.375 is the near term support, while resistance is at 1.38. There is a chance that this area will be good long term buy opportunity.

GBPUSD stopped on Friday exactly on the fast EMA. This is the pair's support as it continues to reach new highs. 1.69 is the next near term resistance.

USDCAD saw a significant downward move on Friday, following a disappointing Employment Change figure. It looks like the pair may have hit its bottom, which could be a sign of a good BUY opportunity.

GBPNZD is our exotic pair for the week, and it looks like it's heading downward in the short term. 1.955 is a strong resistance, and if it closes above this level in the next few days it may move to 1.94, or even 1.93.

CRUDE OIL is sideways trading between the EMA. Once we see a break out of this range, we will have a better idea of where the commoty is heading.

S&P500 just does not want to go down. Every loss is quickly being supported by investors, and we are likely looking for a new high this week or next.

Economic news -

10:15 - Retail Sales y/y (CHF)

21:00 - Federal Budget Balance (USD)

 

Daily Analysis 2014-05-13

EURUSD- The euro did not see any major movement yesterday, and is still trading downward. If the euro crosses the 1.3740 support line, it can drop down to 1.3620, the MA-200 on the daily graph. If the euro crosses the 1.3775 resistance line, it can go up to 1.3855, the MA-200 on the 1 hour graph.

USDJPY- This pair is still strong and can go up to 102.40, the MA-200 on the 4 hour graph. If the pair crosses the support level at 102.20, it can go down to 101.96, the MA-200 on the 1 hour graph.

AUDNZD- The pair is currently at 1.0828, the MA-100 on the 1 hour graph. If the pair crosses the point, it may go to 1.0771, the MA-200.

AUDUSD- It seems that the pair is going down toward 0.9322, the MA-200 on the 1 hour graph, after which it can go to 0.9300. However, if the pair crosses the resistance point at 0.9360, it can go up to 0.9378, followed by 0.9412.

GOLD- Gold is trading at the 1290.20 support point. If it crosses the point, it can go down to 1280.60. This point may be a good time to buy, as it could go up to 1300.

Important data for today:

12:00- EUR- German ZEW Economic Sentiment.

15:30- USD- Core Retail Sales m / m.

Retail Sales m / m.

 

Daily Analysis 2014-05-14

EURUSD is at a very strong support below the fast EMA, and may find its way up to 1.38 in the near term although the momentum is very bearish.

GBPUSD seems to be following the EUR, and if so, we may see it at 1.67 in the next day or so. We will have a better idea once the pair tries to cross yesterday's high which would signal an end to this correction and lead to the pound moving up.

AUDUSD crossed a trend line last night, and it looks like it's on its way to 0.945 or even 0.95.

USDCAD has been moving sideways since major news last Friday. It may take a while before we see any movement in either direction.

CRUDE OIL is at 101.38 and may continue trading higher, as it found support at the round number 100, which is likely to be tested in the next few days.

Economic News:

11:30 - Claimant Count Change (GBP)

Unemployment Rate (GBP)

12:30 - BOE Gov Carney Speaks

BOE Inflation Report

15:30 - PPI m/m (USD)

 

Daily Analysis 2014-05-15

EURUSD- Over the last two days, the euro did not see any serious movement. Today, that could all change following the publishing of some important market data. If the euro crosses the 1.3740 resistance point it can go up to 1.3818, the MA-200 on the 1 hour graph. If the euro fails to do that, it can go down to 1.3620, the MA-200 on the daily graph, followed by 1.3560.

GBPUSD- The pound is now at 1.6760. Today, it may drop to 1.6720, the MA-50 on the daily graph, after which it may be possible to take a long trade up to 1.6900, the MA-200 on the 1 hour graph.

USDCHF-The pair is currently at 0.8900. If it crosses the MA-50 on the 1 hour graph, (0.8890), it can go down to 0.8820, the MA-200 on the same time graph.

DJ30- The index is currently between the two averages, 100/200 on the 1 hour graph. If it crosses the MA-200, (16568), it can go down to 16450. If it crosses the MA-100, (16640), it can go up to 16720.

Important data for today:

15:30- CAD- Manufacturing Sales m / m

USD- Core CPI m / m

USD- Unemployment Claims

 

Daily Analysis 2014-05-16

EURUSD-The euro is currently above the MA-50- 1.3714 on the 1 hour graph and can go up to-1.3754 at first and then to- 1.3800.

If the euro will break down the MA-50, it can go to-1.3620 the MA-200 on the daily graph.

GBPUSD- After a slight rise yesterday still seems that the pound will continue downward.If it crosses the MA-50 on the 1 hour graph(1.6780) it can go down to-1.6750 at first and then down to-1.6630 on the MA-200 daily graph. However if the pound will cross the resistance point at- 1.6820 it can go up to- 1.6900.

USDTRY- The pair was up significantly yesterday and it seems that this trend will continue today. The pair is now at- 2.0980 on the MA-100 4 hour graph, it can go up to the MA-200 at-2.1118, if it fail to do that it can go down to-2.0870.

USDJPY- The pair can go down to the MA-200 on the daily graph-101.20 and from there it seems like buying all the way to-101.84.

Important data for today:

15:30-USD- Building Permits

Prelim UoM Consumer Sentiment

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