We remain bullish above 1.0600 support (Fibonacci retracement, horizontal overlap support) for a bounce up to at least 1.0715 resistance (Fibonacci extension, Fibonacci retracement, recent swing high resistance).Stochastic (21,5,3) is seeing support at…Read more
We remain bullish looking to play the intermediate bounce up from 114.70 support (Fibonacci retracement, horizontal overlap support) for a push up to 115.48 resistance (long term resistance, Fibonacci extension).Stochastic (21,5,3) is bouncing off nice…Read more
Wave summary:The expected correction toward support seen at 1.5145 is well underway. From this support or upon a direct break above 1.5432 further upside toward 1.5677 and possibly even closer to 1.5837 will be expected. R3: 1.5443R2: 1.5370R1: 1.5315…Read more
Wave summary:The minor correction from 122.89 likely completed with the test of 121.59 and a break above minor resistance, seen at 122.36, is now expected for the final rally higher toward at least 124.20 and possibly even closer to 125.53 before wave …
The post Elliott wave analysis of EUR/JPY for March 15, 2017 appeared first on forex analytics forexfactoryblog.com.Read more
Recently, the GBP/USD pair has been trading upwards. As I expected, the price tested the level 1.2256. According to the 1M time frame, I found a clear intraday distribition phase, which is a sign that buying looks risky. According to the cause (trading range), I have found on the chart that a projected target is set at the price of 1.2125-1.2110. Watch for potential selling opportunities.
Explanation of terms on the chart >
bc – buying climax
ar – automatic reaction
lpsy – last point of supply
Ice – support
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.comRead more
Global macro overview for 15/03/2017:The latest weekly American Petroleum Institute (API) crude oil inventory data for the week ending March 10th reported a draw of 0.53 million barrels. This data were a kind of relief after a huge 11.6 million barrels…Read more
The USD/CHF pair is still indicating a bullish market from the support level of 1.0041. Currently, the price is in a bullish channel on the 4H chart. This is confirmed by the RSI indicator signaling that we are still in a bullish trending m…
Global macro overview for 15/03/2017:The data from New Zealand released overnight showed that New Zealand current account deficit shrinks more than expected in the fourth quarter. According to Statistic New Zealand, deficit stood at NZD $2.34 billion i…Read more
The NZD/USD pair was trading around the area of 0.6946 – 0.6889 for a while.
Today, the level of 0.6946 represents the double top on the H4 chart.
The pair has already formed minor resistance at 0.6946 and the strong resistance is seen …
EUR/USD: Since this pair
tested the resistance line at 1.0700, the price has pulled back by 100 pips and now is trading around the support line at 1.0600. The bullish signal has not
been completely rendered invalid yet, but the price may go below the s…