FxWirePro: GBP/JPY Faces Strong Support at 160, Good to Buy at Dips Major resistance -162.60 Major support – 158 (21 day 4HMA) The pair has opened higher today morning around 161.74 and started to decline from that level. It is currently trading around 160.60...
FxWirePro: Turkish Lira Continues to Fall Against US Dollar, Intraday Bias Remains Bullish USD/TRY is currently trading at 2.8463 levels. It made intraday high at 2.8520 and low at 2.8421 levels. Intraday bias remains bullish for the moment. A daily close below 2...
Technical analysis of USDX for April 25, 2016 The Dollar index made a breakout on Friday to new short-term highs but still holds below the 95.20 important resistance. This resistance was once tested and prices got rejected. I believe we can see another attempt to break above it this week...
There is no trade call for the London session. Start your week with my prepared currency update below. Currency Update USD: CPI for March slightly missed estimates with Core dropping to 2.2% y/y from a prior of 2.3% and for the month, missing estimates at 0.1% versus 0.2% expected...
Technical Analysis of Gold for April 25, 2016 Gold remains trapped inside the trading range of $1,270-$1,220. Gold bulls have tried to push higher for a breakout but were not strong enough...
Technical Analysis of EUR/JPY for April 25, 2016 General overview for 25/04/2016: The Elliott wave count has been little modified to incorporate the recent price action. Currently, the corrective cycle in wave 2 is expected, and the retracement can reach the projected level of 123...
Technical Analysis of USD/CAD for April 25, 2016 General overview for 25/04/2016: The market trades in the bearish zone, below the weekly pivot at the level of 1.2721 and below the intraday resistance at the level of 1.2749...
Technical Analysis of USD/CHF for April 25, 2016 USD/CHF is expected to trade with a bullish bias and looking forward for a target at 0.9800. The pair resumed its bullish trend and is now heading upward, supported by its rising 20-period moving average...
Technical Analysis of GBP/JPY for April 25, 2016 GBP/JPY is expected to trade with a bullish bias above 159.45. The pair remains bullish above its nearest support at 159.45. The sequence of higher highs and lows remains intact, which should confirm a positive outlook...
Technical Analysis of NZD/USD for April 25, 2016 NZD/USD is expected to trade with a bearish bias as the pair is capped by a negative trend line. The pair stays below its key resistance at 0.6820 and is also capped by a negative trend line...
Longs are Building in AUD, CAD, NZD and JPY - SocGen Kit Juckes, Research Analyst at Societe Generale, notes that the CFTC data paint a now-familiar picture of speculative FX positioning: Longs are building in AUD, CAD, NZD and JPY...
Oil: Spec Market is Long Crude – Westpac Robert Rennie, Research Analyst at Westpac, notes that the West Texas front month crude oil traded above $44/bbl last week for the first time since Nov 2015...
Fed’s in a Pickle - SocGen Kit Juckes, Research Analyst at Societe Generale, suggests that the odds of this week’s US FOMC meeting delivering a rate hike are zero, according to Bloomberg. Key Quotes “The chances of a cut are higher, but only 2...
BoJ Preview: Clouds Gathering - ING James Smith, Economist at ING, suggests that given recent JPY strength, we expect the BoJ to expand stimulus this week, via increased risk asset purchases and a move to negative rates on the Loan Support Programme...
Asia's Anesthesia Could Wear Off – Deutsche Bank Mallika Sachdeva, Strategist at Deutsche Bank, suggests that three forces – beyond positioning and seasonality – have been at play in the latest Asian FX rebound but the numbing relief from each could wear off...
EUR/GBP Steady Above 0.7800 Mark Ahead of German IFO Business Climate Recovering from its Monday morning gap down opening of 0.7752 monthly low level, the EUR/GBP pair recovery swiftly and is currently holding just above 0.7800 mark...
Elliott Wave Analysis of EUR/NZD for April 25 - 2016 Wave summary: The rally of the 1.6063 low is doing okay. We are not yet at a stage where we can say with a high degree of certainty that a long-term bottom is in place. We do expect this, but still need a break above important resistance at 1...
Elliott Wave Analysis of EUR/JPY for April 25 - 2016 Wave summary: We continue to look for more upside pressure towards the 127.77 target as red wave iii. However, in the long term a strong test of the 128.22 high is expected and if this resistance breaks, then a long-term bottom at 121...
USD/CAD Bid Around 1.2690, Oil Eyed USD/CAD is attempting a consolidation scheme below the 1/2700 handle at the beginning of the week, coming up from lows near 1.2660 during the Asian session...
