[B]USD/JPY Forex Signal for 15 January 2015[/B]
[B]Long Trade 1[/B]
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 118.00.
Place the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
[B]USD/CAD Forex Signal [/B]
[B]Long Trade 1[/B]
Long entry following a bullish price reversal upon the next touch of 1.4313.
Place the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
I wrote yesterday that this pair isn’t really going anywhere and so it proved to be more or less even after we have just had really key events from both of the central banks in charge of these currencies. The price did fall but not by an awful lot.
Turning to the chart below, we can see that a bearish trend line has formed and seems to be influencing the price. We cannot draw a lower trend line yet but if we make another suitable low we will find ourselves in a narrowing triangle signalling a possible breakout of some power. Until then, it is possible to reply upon a failure to rise back at the trend line as a place to look for a short trade, and of course at the 0.6590 level above that which remains key.
[B]AUD/USD Forex Signal [/B]
I wrote yesterday that the zone topped at 0.7072 would probably hold and it has. It is currently sitting right at this key price and threatening to break up. There is a long-term downwards trend but the action of recent days looks very bullish and a break now up above 0.7072 would not be surprising at all.
We have printed new flipped resistance to support just below the psychologically key 0.7000 level.
Long entry following a bullish price reversal on the H1 time frame upon the next touch of 1.3977.
Place the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
[B]USD/CHF Forex Signal [/B]
Long entry after bullish price action on the H1 time frame following a first touch of the bullish trend line currently sitting at around 1.0055.
Put the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.4350.
Place the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 25 pips in profit.
Remove 50% of the position as profit when the price reaches 25 pips in profit and leave the remainder of the position to run.
[B]EUR/USD for February 02, 2016[/B]
[B]TODAY’S TECHNICAL LEVELS:[/B]
Breakout BUY Level: 1.0947.
Strong Resistance:1.0941.
Original Resistance: 1.0930.
Inner Sell Area: 1.0919.
Target Inner Area: 1.0894.
Inner Buy Area: 1.0869.
Original Support: 1.0858.
Strong Support: 1.0847.
Breakout SELL Level: 1.0841.
[B]USD/CHF Technical Signal For 2 February 2016[/B]
Because the EUR/USD moved upward yesterday, the USD/CHF moved lower on the same day (in an inverse correlation with each other). However, the bullish signal in the market is not yet over, unless the price breaks below the support levels at 1.0100 and 1.0050. Should this fail to happen, we might see a resumption of the bullish movement in the market.
[B]GBP/USD Technical Signal For 2 February 2016[/B]
It is interesting to see that the GBP/USD moved upwards by 200 pips on Monday, rising from the accumulation territory at 1.4250, and almost reached the distribution territory at 1.4450. Although the recent bearish bias still exists, it is now threatened by the price action on Monday. A further bullish movement of 200 pips would result in a new bullish bias on the market. Otherwise, this could turn out to be a rally in the context of an uptrend.
[B]USD/JPY Technical Signal For 2 February 2016:[/B]
This pair, which moved significantly upwards last week, simple moved sideways yesterday. The indicators in the chart currently support the bullish trend in the market, which is supposed to continue this week and this month. The same outlook is also possible on other JPY pairs, owing to the seasonality of this phenomenon. JPY pairs are usually strong in February of every year.
[B]EUR/JPY Technical Signal For 2 February 2016[/B]
This cross moved upward slightly yesterday, recovering the shallow pullback witnessed on January 29, 2016. The price should rally further today or tomorrow, enabling the price to test the supply zones at 132.50 and 130.00. The demand zones at 130.50 and 131.00 should do a good job in resisting any bearish corrections along the way.
Weekly kijun-sen resistance is being broken. Price is moving towards the Ichimoku cloud resistance. A weekly close above the kijun-sen will confirm the bullish trend. Support is at $1,090 where we find the tenkan-sen. Will gold price make a lower high relative to the $1,190 high? This high is very important resistance for the medium- to long-term trend.
[B]Technical analysis of USD/JPY for February 11, 2016 [/B]
[B]TODAY’S TECHNICAL LEVEL:[/B]
Resistance. 3: 115.03.
Resistance. 2: 114.80.
Resistance. 1: 114.58.
Support. 1: 114.30.
Support. 2: 114.09.
Support. 3: 113.85.
[B]TODAY’S TECHNICAL LEVEL:[/B]
Breakout BUY Level: 1.1345.
Strong Resistance:1.1339.
Original Resistance: 1.1328.
Inner Sell Area: 1.1317.
Target Inner Area: 1.1291.
Inner Buy Area: 1.1265.
Original Support: 1.1254.
Strong Support: 1.1243.
Breakout sell level: 1.1237.
[B]Elliott wave analysis of EUR/JPY for February 11, 2016 [/B]
We are long EUR from 128.60 and will move our stop higher to 128.20. If you are not long EUR yet, then buy near 128.85 and use the same stop at 128.20.
[B]GBP/USD Forecast March 7, 2016, Technical Analysis[/B]
The GBP/USD pair initially fell during the course of the day on Friday, but then shot higher in order to form a positive candle. It looks as if the market should continue to go little bit higher, but there is so much in the way of resistance that we feel it’s only matter of time before the sellers get involved. On an exhaustive candle, we will not hesitate to sell this market as it should then find plenty of sellers going forward. At that point, we would anticipate a move back down to the 1.40 handle
[B]Technical Analysis EUR/USD for March 7, 2016[/B]
The EUR/USD moved higher on Friday recapturing the 10-day moving average and closing near the 1.10 level. This comes despite a stronger than expected headline U.S. payroll report, which actually showed that wages are declining. Resistance is seen near the February highs at 1.1376. The RSI (relative strength index is moving higher along with price action reflecting accelerating positive momentum that points to higher prices.
U.S. nonfarm payrolls increased 242k in February, better than expected, after a 172k January gain which was revised up from 151k, and a 271k December jump revised up from 262k. Household employment rose another 530k, while the labor force climbed 555k. The unemployment rate was unchanged at 4.9%. Average hourly earnings fell 0.1% compared to the prior month’s 0.5% surge. The average workweek declined to 34.4 from 34.6 previously. Private payrolls climbed 230k.
The USD/JPY pair initially fell during the course of the session on Friday, but turned back around to form a bit of a neutral candle. It now looks as if we are going to try to break above the 115 handle, but there so much in the way of resistance between here and the 115 handle, so it’s going to be difficult to get above there. However, it looks as if there is a significant amount of bullish pressure so any time we pullback we feel the market should be bought for short-term moves.
[B]AUD/USD Forex Technical Analysis – March 7, 2016 Forecast[/B]
The AUD/USD was one of the best performing markets last week with the Forex pair posting a gain of .0308 or 4.31%. The strong rally put the Aussie at an eight-month high versus the U.S. Dollar, but raised concerns that the Reserve Bank of Australia might have to cut interest rates to less than the current 2 percent. Its concern is that an overpriced currency may hurt the economy since it relies on exports.
RBA board member John Edwards said recently he would like to see the Australian about .6500. Because of its recent strong gains, investors should start watching for currency-related comments from RBA officials as they may attempt to talk down the Aussie.
Last week’s price surge was fueled by a combination of better-than-expected fourth-quarter economic growth, firming commodity prices and resurgent foreign interest in Australian government bonds.
On Friday alone, the Australian Dollar spiked more than 1 percent against the Greenback. Its latest surge was sparked by mixed jobs data from the U.S., where non-farm payrolls came in well above expectations but average hourly income slipped 0.1 percent. This led to increased speculation that the U.S. Federal Reserve will be slow to raise rates in 2016 after hiking rates in December for the first time in almost 10 years.