As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.254. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.259. TP4: R2=1.2615. Set the stoploss of these orders at breakout of S2=1.2505. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The euro is testing back towards its current monthly trading low against the US dollar, following multiple technical rejections from the 1.1310 level. A sustained break of the 1.1280 level may see the EURUSD pair failing back towards the 1.1255 support region. The release of the US ADP jobs report is likely to be the main market mover for the EURUSD pair later...
The British pound has dropped sharply lower against the US dollar, following bearish comments from Bank of England Governor Mark Carney. The 1.2520 support level is likely to come into focus now that the 1.2610 level has been convincingly breached. UK PMI Services data is likely to be the main mover for the GBPUSD pair this morning, with a negative number expected...
The euro is back under pressure against the US dollar in early Tuesday trade, following slightly better Manufacturing data from the United States economy. The 1.1280 level is now key intraday support, with a sustained breakout under this level likely to spark weakness towards the 1.1255 level. The 1.1321 level now becomes the key intraday pivot point for the...
The greenback is once again firming against the Japanse yen currency, as the US dollar index climbs back above its key 200-day moving average. A sustained breakout above the 108.45 level is needed on an intraday basis to encourage further buying in the USDJPY pair. The key weekly upside targets for the USDJPY pair extended towards the 109.00 and 109.80 resistance...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.1315. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=1.1265. TP4: S2=1.124. Set the stoploss of these orders at breakout of R2=1.1335. Stop and reverse: If trend gets reversed, buy (stop) orders will be opened at breakout of...
The US dollar has opened the new trading monthly strongly against the Japanese yen after a positive outcome from the G20 leaders meeting over the weekend. The 109.00 resistance level still remains the overall upside short-term objective for USDJPY bulls this week. USDJPY sellers may attempt to enter around this area, following the heavily bearish candle formation...
The British pound has opened the new trading month on the back foot against the US dollar, following a heavy technical rejection from the 1.2730 area on Friday. UK PMI Services data and ISM Manufacturing data are the big drivers for the GBPUSD pair today. Continued weakness is likely to prompt a technical test of the key 1.2660 level, which is likely to act as a...
The British pound is softening towards key weekly support aginst the US dollar ahead of the release of GDP data from the UK economy this morning. A worse than expected GDP number could see the GBPUSD pair break the 1.2660 support level and test towards at least the 1.2610 area. If bulls can hold support the GBPUSD pair could start to edge back towards the 1.2710...
The euro currency remains trapped in a tight range against the US dollar as traders scale back positioning ahead of the start of the G20 Summit. The four-hour time frame is showing that the EURUSD pair is currently trading within a neutral pattern. The pattern is highlighting that a twenty-five pip breakout move is likely once the EURUSD pair picks a directional...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.9795. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=0.974. TP4: S2=0.9695. Set the stoploss of these orders at breakout of R2=0.9815. Stop and reverse: If trend gets reversed, buy (stop) orders will be opened at breakout of...
The British pound has gradually edged back under the 1.2700 level against the US dollar after bears failed to break the 1.2710 resistance level. The GBPUSD pair is currently neutral until a clear technical break from the 1.2660 to 1.2710 price range occurs. Overall, the GBPUSD pair is likely to be driven by the slew of macroeconomic data being released from the UK...
The euro currency continues to trade towards the lower-end of its weekly range against the US dollar as the pair becomes increasingly driven by important US data. Bulls may need weak US data to break the 1.1400 level and take a shot at the 1.1440 resistance level. Much better than expected United States data over the coming sessions may prompt the EURUSD pair to...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (71.500). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . NZDJPY is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support....
Midterm forecast: 0.370 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index ( RSI ) is 61. New trading suggestion: *There is still a possibility of temporary retracement to...
The British pound has reversed sharply from the 1.2780 level against the US dollar as UK political woes once again force the pair lower. A sustained break of the pivotal 1.2660 level could send the GBPUSD pair back towards its former weekly trading low. Bulls need to move the pair back above the 1.2710 resistance level in order to encourage intraday bulls back...
The euro has slipped back from the 1.1400 level against the US dollar following Federal Reserve Chair Jerome Powells speech on Tuesday. The EURUSD pair can weaken towards the 1.1260 level if sellers start to hold price below the important 1.1360 level. Bulls need to move price past the 1.1400 level to encourage technical buying towards at least the 1.1440...
The British pound is attempting to gain upside momentum against the greenback after slipping back towards the 1.2700 level in early week trade. GBPUSD bulls need to sustain price above the 1.2730 level and stage a breakout above the 1.2770 resistance level. Losses below the 1.2710 level may provoke a much deeper technical correction towards the 1.2660 support...