Prices put in a bearish Evening Star candlestick pattern below resistance at a falling trend line set from April 2013, hinting at a turn lower ahead. Negative RSI divergence bolsters the case for a downside scenario. A break below support at 1306.00, the 23.6% Fibonacci retracement, exposes the 38.2% level at 1281.71. Trend line resistance is now at 1343.92, with a push above that targeting the 23.6% Fib expansion at 1358.83.
The European currency peaked this year after inflation in the euro area has exceeded analysts' expectations. British Pound appreciated against the dollar after data showed an increase macro investment. Japanese Yen appreciated against most of its counterparts as a result of tensions in Ukraine. European capital markets have increased the intensification of activity in the mergers and acquisitions. U.S. stocks have been in a slight increase over estimates amid publication indicator of consumer sentiment . Asian capital market has been declining after the Chinese manufacturing sector PMI indicator reached the last eight months minimum . WTI has had an increase in February after Oklahoma stocks were falling and the euro appreciated against the dollar. Gold was down after the appreciation of the shares has reduced demand for the precious metal . Coffee was the largest monthly increase in the past 19 years amid declining crop in Brazil.
S&P 500 TECHNICAL ANALYSIS (based on dailyfx article)
Prices are testing below resistance-turned-support at 1851.40, the 2013 high, after recoiling from resistance at 1863.60 marked by the 23.6% Fibonacci expansion. A break below rising channel support at 1840.90 targets an upward-sloping trend line set 1814.40. Alternatively a reversal above 1863.60 aims for the intersection of the 38.2% level and the channel top at 1881.30.
After India, China, Vietnam Issue Warning Against Bitcoin (based on forexminute article)
Last year China and India, the giant economies of Asia issued a warning against the use of Bitcoin to customers. ForexMinute had then reported that India’s central bank, warned against Bitcoin saying that such instruments for financial transactions pose significant risks to the users, holders and traders as there are potential financial, operational, legal, customer protection and security-related risks.
Now, on similar lines, Vietnam’s State Bank has issued a statement wherein it has warned against Bitcoin. The decision has blocked credit institutions from offering any digital currency services. Though this should not surprise Bitcoin customers as the Vietnamese government had issued a strong warning back on the 14th of February when it concluded that it did not recognize Bitcoin.
The government of Vietnam says that Bitcoin cannot be used as a legitimate method of payment. Also, according to the government authorities in Vietnam Bitcoin is being used for money laundering, tax evasion, illicit trade, and the risk of speculation and for these reasons, the customers are warned to keep a distance from it.
Nonetheless, the warning has come the time when Mt. Gox has gone bankrupt and a large number of customers are feeling cheated. The government of Vietnam says that consumers would have no protection in the event of investment loss. Though if the language of the warning is kept in mind, it is not an outright ban on Bitcoin, it looks like the government is paying attention to what is happening to Bitcoin.
Price is continuing with primary bullish market condition after flat on D1 timeframe trying to break 1.6741 resistance.W1 timeframe : the price is ranging between 1.6822 resistance and 1.6251 support with primary bullish.H4 timeframe : bullish trend...
USDCHF Technical Analysis (based on dailyfx article)
- USDCHF has broken to its lowest level since October 2011. A massive head and shoulders top is completed (again) after a false break in October, and neckline retest in January. There is no chart support until .8566 (October 2011 low) and the head and shoulders target is .8071. - Use this week’s high as a pivot. In other words, price needs to exceed .8929 in order to negate downside bearish implications from the break.
Вежливы люди в вежливом Крыме В вежливой форме вежливо просят, Как-то не хочется ссориться с ними, Ведь даже оружие вежливо носят. Вежливы каски,под масками лица, Вежливы даже, поверьте, машины, Вот, полюбуйся на это, столица, Вежливый – это по-нашему мирный. В вежливом небе летают вертушки, Вежливо лопасти в небе стрекочут, Вежливый катер не хочет войнушки. Он патрулирует. Вежливо очень.
Price is below Ichimoku cloud/kumo for primary bearish to be continuing trying to break 101.66 support level on D1 timeframe.If
the price will break 101.66 support on D1 close bar so the primary bearish may be continuing (good to open sell...
D1 price is above Ichimoku cloud/kumo and Sinkou Span A for primary bullish market condition. Chinkou Span line of Ichimoku indicator crossed historical price on open bar from above to below which is indicating the possible correction within primary...
USDCAD Technical Analysis (based on dailyfx article)
- Measured objectives from the breakout above the 2011 high range from 1.1680 to 1.1910. The Jul 2009 high rests in this zone at 1.1724 and the 2007 high is near the top of the zone at 1.1875. - From an Elliott perspective, it’s possible that the rally from the 2012 low composes a ‘3rd of a 3rd (or C)’ wave from the 2007 low. - The close above the line that extends off of the 2002 and 2009 highs as well as the close above corrective channel resistance add credence to the 3rd of a 3rd wave position. - USDCAD has reacted at support.