Why The 200-Day Moving Average Is A Good Worry Signal (based on the article)
Weekly Outlook: 2017, May 21 - May 28 (based on the article)
The US dollar was on the back foot, suffering some political issues among other factors. The meeting minutes from the Fed stand out, alongside updates on US and UK GDP but perhaps the biggest event is the testimony of James Comey. Here are the highlights for the upcoming week.
Weekly EUR/USD Outlook: 2017, May 21 - May 28 (based on the article)
EUR/USD reached the highest in six months, mostly enjoying the weakness of the dollar. PMIs, a key German survey and the ECB meeting minutes stand out in the last full week of May.
Big Week for Global Markets (based on the article)
EUR/USD Rockets-through 1.1200"Of recent, we’ve seen a concerted effort from the European Central Bank to allay concerns of QE-taper. We heard Mario Draghi speak to this at the most recent ECB meeting, remarking that the bank hadn’t yet begun discussions around exit strategies; but judging by price action, markets aren’t necessarily buying that idea, as Mr. Draghi’s dovish assurances merely brought on a quick support test, and this was followed by three weeks of strength as EUR/USD has run from a post-ECB low of 1.0839 up to a fresh six-month high of 1.1246."
USD/JPY is Back in the Bearish Channel"The latter portion of April and the early portion of May saw the return of the USD/JPY bullish theme, as the pair broke out of the downward sloping channel that had governed price action since the open of the New Year. But the reversal on Tuesday and Wednesday broke below a key zone of support comprising the area from 111.61-112.40; and now we can see this ‘zone’ acting as near-term support by capping the highs over the past three trading days."
AUD/USD - rally within the bearish; 0.7488 and 0.7610 are the key resistance levels (based on the article)
Daily price is located below Ichimoku cloud in the bearish area of the chart for the secondary rally to be started by 0.7488 resistance level to be broken to above with 0.7610 bullish reversal level as the next daily bullish target.
EUR/USD: Bullish: Still bullish (based on efxnews article)
United Overseas Bank (UOB) is suggesting for traders to exit from buy position in case the price will go closer to 1.1300 resistance level:
NZD/USD: Bullish: Immediate target of 0.7050/55 (based on efxnews article)
United Overseas Bank (UOB) is evaluating the market condition for this pair daily price as a bulish in case 0.7047/50/55 targets will be broken to above:
S&P 500 Ahead Of FOMC Meeting Minutes (based on the article)
Daily price is on bullish ranging within 2400 psy resistance level and 2354 bearish reversal support level. If the price breaks 2400 to above so the next resistance at 2404 will be the key for the bullish trend to be continuing.
Brent Crude Oil - daily bullish reversal (based on the article)
Daily price went to the bullish territory by breaking Ichimoku cloud to above: price is testing 54.60 resistance level for the bullish trend to be continuing with 55.95/56.62 nearest bullish targets. The other scenario is the following: the price will be bounced from one of the resistance level to below back to the bearish area of the chart for the ranging within the levels for direction.
X Wave Triangle"Under this triangle scenario, prices would need to top soon and below $55.21. If a short term pivot forms, we would anticipate one last dip to hold above $43.79 to finish off the triangle pattern. This is an overall bullish pattern that would lead to a break higher. This triangle is valid in the near term so long as crude oil prices are contained between $43.79 and $55.21."
Diagonal Pattern"Under this scenario, the dip to $43.79 was wave four of the five wave diagonal. This sequence implies crude oil prices have begun their ending wave higher. This final wave likely grabs a new high above $57 while holding the green support trend line."
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Sergey Golubev, 2014.03.30 20:04