Daily Forex Technicals | Written by FXtechtrade
EUR/USD
Today's support: - 3092, 1.3061 and 1.3050(main), where correction is possible. Break would give 1.3016, where correction also may be. Then follows 1.2982. Break of the latter would result in 1.2957. If a strong impulse, we would see 1.2936. Continuation will give 1.2915.
Today's resistance: - 1.3170 and 1.3210 (main). Break would give 1.3234, where a correction is possible. Then goes 1.3262. Break of the latter would result in 1.3297. If a strong impulse, we'd see 1.3316. Continuation will give 1.3340.
USD/JPY
Today's support: - 97.20(main). Break would bring 96.86, where correction is possible. Then 96.65, where a correction may also happen. Break of the latter will give 96.21. If a strong impulse, we would see 95.86. Continuation would give 95.43.
Today's resistance: - 98.70, 99.22, 99.48 and 99.94(main), where a correction may happen. Break would bring 100.24, where also a correction may be. Then 100.51. If a strong impulse, we would see 100.82. Continuation will give 101.14.
DOW JONES INDEX
Today's support: - 7860.80, 7848.20, 7817.72 and 7796.30(main), where a delay and correction may happen. Break of the latter will give 7782.19, where correction also can be. Then follows 7768.11. Be there a strong impulse, we would see 7734.38. Continuation will bring 7716.10 and 7995.00.
Today's resistance: - 7798.64(main), where a delay and correction may happen. Break would bring 8032.50, where a correction may happen. Then follows 8048.36, where a delay and correction could also be. Be there a strong impulse, we'd see 8071.77. Continuation would bring 8097.38
Daily Forex Fundamentals | Written by TheLFB-Forex.com
Majors Decline On Light Volume
Overall, the market moved again on light momentum in the Asian session. Things are expected to pick up as the market is heading towards the London open, following the template set over the last period of trading. So far, it seems that the direction of trading was dollar long, but this could change very easily as the market is struggling to pick up momentum.
The Euro (Eur/Usd) was able to move decisively higher for the first time in the last period. The pair rose 130 pips on Thursday, helped by positive U.S. futures during the European and the U.S. sessions. However, the euro ran into the 1.3150 resistance area in the Asian session, an area that might need stronger volume to be break.
The Pound (Gbp/Usd) saw strong momentum on Thursday, which helped the pair break above the 20 and the 100-day moving averages. However, the pound declined 60 pips in the Asian session, breaking again below the 20-day moving average.
The Aussie (Aud/Usd) rose 80-pips on Thursday, helped by the gains seen during the European session. However, the aussie saw some downside action in the late U.S. and in the Asian sessions, as the pair failed two tests at the 0.7150 resistance area, forming a double-top pattern.
The Cad (Usd/Cad) declined 140 pips, after the pair broke under the 1.2325 support area helped by better than expected retail sales. Additionally, the cad might have received an additional boost from the crude's market, as oil broke above the $49 resistance area. In the Asian session, the cad rose 30 pips.
The Swissy (Usd/Chf) moved strongly on Thursday, as the forthcoming SNB Chairman was speaking about the latest developments in the Swiss economy. Helped by the declines seen in the past days, the swissy broke under the 50-day moving average.
The Yen (Usd/Yen) continues to hold above the 97.75 area, which acted as a support over the last four days of trading. Additionally, the 50-day moving average can be found around the same area, providing additional weight to the support line. On Thursday, the yen formed a doji-star, while it declined 30 pips tonight, in the Asian session
Daily Forex Technicals | Written by India Forex
Gold: Gold firmed up yesterday taking the 100 Day EMA support as investors considered the yellow metal as a safe heaven. The charts are reaching the overbought region with 38.2% retracement resistance at $920. Above that could push Gold higher to $935. (Gold: $909.00)
Dollar index: Dollar Index pulled back from close to 87 levels and continues to witness further sideways trading. However, as long as 84.51 support holds, a resumption of rally may be witnessed. Break above 86.88 can take the index to 88 levels. Bullish.
Daily Forex Technicals | Written by Mizuho Corporate Bank
EURUSD
Comment: Slow work, but getting there. Bouncing from the bottom of a large 'flag' formation, through the thinnest point of the Ichimoku 'cloud' and the 9-day moving average. A weekly close above 1.3185 would form a small 'bullish engulfing' candle on the weekly chart and might add to current bullish momentum.Strategy: Attempt longs at 1.3175; stop below 1.2950. Add to longs on a sustained break above 1.3200 for 1.3400 short term and 1.3600 further out.Direction of Trade: →↗
Support Resistance
1.3113 " 1.3190/1.3200
1.309 1.3335
1.3045 1.3395*
1.3000* 1.3515
1.295 1.3585
GBPUSD
Comment: Bouncing from the top of the Ichimoku 'cloud', closing above the 26-day moving average, in what can be seen as a 'bullish engulfing' candle. Bullish momentum might increase if we hold above 1.4600 today though really a weekly close above 1.5000 is essential for a decent rally to really get going.Strategy: Buy at 1.4665; stop below 1.4380. Short term target 1.4850, eventually 1.5000.
Direction of Trade: →↗
Support Resistance
1.4637 " 1.4687
1.46 1.4708
1.45 1.478
1.444 1.4855
1.4397* 1.496
USDJPY
Comment: Dropping by more than expected, breaking below the 50% retracement level and the 9 and 26-day moving averages. This has forced us to adjust our view and now see April's high at 101.45 as an interim top so that prices are likely to hold below here for another couple of months or so. The next step should be a bout of generalised US dollar weakness so that dollar/Yen drops towards 93.50.
Strategy: Attempt shorts on a bounce to 98.00; stop above 99.00. Add to shorts on a break below 96.50 for 95.75 short term, probably 93.50 further out.
Direction of Trade: →
Support Resistance
97.10 " 98.15
96.9 98.92/99.00*
96.50* 99.5
95.95 99.69/99.77
95.65* 100
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