Technical Analysis

The EURUSD fell by roughly 170 pips last week, closing at 1.3222. There would be some short-lived bullish attempts this week, but the general outlook remains bearish. EURUSD: The EURUSD fell by roughly 170 pips last week, closing at 1.3222. There would be some short-lived bullish attempts this week, but the general outlook remains bearish. […]

Daily chart: The USDX was able to break very strong resistance at the 81.50 level and now this is consolidating above the 200 day moving average. It is likely that the start USDX form a lower high pattern to continue up to the next resistance level at 82.51. However, we must be very careful with […]

Pound Sterling The Pound spent most of the week softer against its peers as concerns over possible military action against Syria was the main driving force behind the markets. Tuesday’s session saw the Pound fall against the Euro following the release of positive data out of the Eurozone and as tensions over Syria saw investors […]

The USDCHF has gone upwards this week. Having moved upwards by over 100 pips, the next resistance level to be breached is 0.9350. EURUSD: This pair has moved downwards by more than 150 pips in this week. Trading below the resistance line of 1.3250, the next price target may be the support line at 1.3200. […]

Daily chart: The USDX tried to break the resistance at 81.50, but was unsuccessful. Remember that the global uncertainty has grown around the current situation in Syria, where the USDX has reacted very irregular movements without clear trend. If the USDX fails to make a bearish rebound at current levels would be expected to fall […]

Daily chart: The GBPUSD is making a bullish rebound in the level of 1.5506, but is very likely to be the formation of a higher low pattern. If the pair manages to break that level, it is expected to fall to the level of 1.5407. On the other hand, the GBPUSD could rise again until […]

The EURUSD is now trading below the resistance level of 1.3300, targeting the support level at 1.3250. Furthermore the fundamental figures coming out today would have an impact on the Greenback. EURUSD: The EURUSD is now trading below the resistance level of 1.3300, targeting the support level at 1.3250. Furthermore the fundamental figures coming out […]

Daily chart: The USDX made a strong bearish rebound in the level of 81.50, a resistance very important in this chart. It is very likely that the USDX to fall to support at 80.62 level, due to the weakness presented by the USDX in recent days. However, we do not rule out the possibility of […]

Daily chart: The GBPUSD touched the support at 1.5506 level and now, this is trying to break that level. If the pair manages to break that level, it is expected to fall to the level of 1.5407. On the other hand, the GBPUSD may conduct a bullish rebound in this support, because close to that, […]

The two timing indicators, Top 20 Differential and 13-day BTI, became oversold last week but as I suspected the wave count on the S&P 500 was not complete so yesterday the index made a new low and today we have a completed five wave decline in the S&P. A five-wave decline accompanied by an oversold […]