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Technical Analysis of GBP/JPY for April 07, 2016 GBP/JPY is under pressure and expected to trade in lower range and move towards 152.35. The pair has been capped by its descending 50-period moving average and it is looking for a lower bottom...
EUR/USD Turns Negative Near 1.1380 The upside momentum in EUR/USD seems to have found strong resistance in the area of 1.1450/60, fresh 2016 tops...
Analytics & Forecasts
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Roberto Jacobs, 7 April 2016, 10:29
USD/JPY Sell-Off Extends in Europe, 108.50 Tested The USD/JPY pair keeps falling post-Europe open, with the bears completely in control and now look to test the next psychological support placed at 108.00...
Analytics & Forecasts
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Roberto Jacobs, 7 April 2016, 10:27
Technical Analysis of USDX for April 7, 2016 The Dollar index has broken support yesterday and is moving lower towards our 93 target area. Dollar bears need to be very cautious as the price is showing bullish divergence signals and if we reverse upwards above 95...
GBP/USD – Bears are Back, Drops Below 1.41 GBP bears made their presence felt once again in early Europe, pushing GBP/USD to a session low of 1.4048 levels. Rejected at hourly 50-MA Spot made failed attempts to break above hourly 50-MA, opening doors for a fresh sell-off in Europe...
Analytics & Forecasts
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Roberto Jacobs, 7 April 2016, 10:22
Technical Analysis of Gold for April 7, 2016 Gold continues to move sideways but is still inside the bearish channel. The trend remains bearish as long as the price is below $1,240 with increased chances of a push lower towards $1,190...
Elliott Wave Analysis of EUR/NZD for April 7 - 2016 Wave summary: We are still waiting for some real upside acceleration, but to signal the beginning of this upside acceleration, a break above resistance at 1.6800 and, more importantly, a break above 1.6874 is needed to call for a rally to 1...
Analytics & Forecasts
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Roberto Jacobs, 7 April 2016, 10:16
Elliott Wave Analysis of EUR/JPY for April 7 - 2016 Wave summary: We have now seen the expected break below the important support at 124.64 confirming a continuation lower to 122.06 and 117.38 to end the corrective decline from 141.04. Short-term resistance is now seen at 125...
Analytics & Forecasts
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Roberto Jacobs, 7 April 2016, 10:14
Daily Analysis of Major Pairs for April 7, 2016 EUR/USD: Since the EUR/USD tested the resistance line at 1.1400, it has been difficult for the price to go above that line. The bulls have continued battering that line of defense (an action that started last week...
Analytics & Forecasts
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Roberto Jacobs, 7 April 2016, 10:11
Technical Analysis of EUR/USD for April 07, 2016 When the European market opens, some economic news will be released such as ECB Monetary Policy Meeting Accounts, French 10-y Bond Auction, French Trade Balance...
Technical Analysis of USD/JPY for April 07, 2016 In Asia, today Japan will not release any economic data but the US will release some economic data such as Consumer Credit m/m, Natural Gas Storage, Unemployment Claims...
Oil: Bucked the Downtrend and Showed Some Signs of Life - Rabobank Stefan Koopman, Market Economist at Rabobank, notes that oil bucked the downward trend and showed some signs of life...
Crude Oil
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Roberto Jacobs, 7 April 2016, 10:00
Japan: Stronger Yen Testing Japanese Policymakers – MUFG Lee Hardman, Currency Analyst at MUFG, notes that the yen has continued to strengthen in the Asian trading resulting in USD/JPY falling below levels which prevailed prior to the BoJ’s decision to extend QQE on the 31st October 2014...
Currency
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Roberto Jacobs, 7 April 2016, 09:58
FXWIREPRO: NZD/JPY Breaks Strong Support at 74.25, Targets 73.55 NZD/JPY has breached strong trendline support at 74.25, we see scope for test of 73.55 levels. Price action in the pair has dipped below daily cloud. 5-DMA has shown a bearish crossover on 10-DMA...
Analytics & Forecasts
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Roberto Jacobs, 7 April 2016, 09:45
Brexit Blues Taking its Toll on UK Pound - Rabobank Stefan Koopman, Market Economist at Rabobank, notes that the Pound sterling briefly fell to an almost two-year low of 0.81 against the euro. Key Quotes “Also on a tradeweighted basis, the currency hit levels last seen in November 2013...
Metals
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Roberto Jacobs, 7 April 2016, 09:44
USD/JPY Remains Vulnerable If US Data is Weak – Deutsche Bank Taisuke Tanaka, Strategist at Deutsche Bank, suggests that the recent international securities flow data indicate that the USD/JPY is being supported by dip-buying by pensions and other Japanese investors...
Analytics & Forecasts
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Roberto Jacobs, 7 April 2016, 09:40
EUR/USD Trims Gains on Draghi’s Dovish Words EUR/USD pair backed-off from the daily high of 1.1454 after ECB’s annual report published today showed Draghi’s commitment to fight low inflation is stronger than ever. Trades around 1.1410 The spot now trades around 1...
Analytics & Forecasts
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Roberto Jacobs, 7 April 2016, 09:38
Eurozone: Doors Open for a TLTRO III Next Year - SocGen Anatoli Annenkov, Research Analyst at Societe Generale, suggests that of the latest measures taken by the ECB, the new TLTRO II is the most innovative, with the ECB offering to lend at a negative interest rate...
Market News
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Roberto Jacobs, 7 April 2016, 09:36
ECB and Yellen in Focus in Addition to China’s FX Reserves - Rabobank Stefan Koopman, Market Economist at Rabobank, suggests that apart from Chinese FX reserves, which are projected to have fallen by only USD 6bn in March, it's a quiet day in terms of key macro-economic data...
Analytics & Forecasts
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Roberto Jacobs, 7 April 2016, 09:33
EUR/USD Door Open for a Test of 1.1495 – UOB The research team at UOB Group hinted a the possibility of a test of the 1.1500 neighbourhood in the near term. Key Quotes “There is not much to add as EUR tested the 1.1330 support before rebounding quickly”...
Analytics & Forecasts
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Roberto Jacobs, 7 April 2016, 09:32