USD/CAD has been trading in a relatively tight range during the past two weeks. 1.28 - 1.2810 is the range support and 1.29 - 1.2910 the resistance. A case could be made for continuation in either direction but largely depends on whether U.S. dollar can sustain its momentum. The longer the range lasts, the more orders accumulate on both sides and the stronger the breakout move, or so the theory goes.
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GOLD MAY BREAK HIGHER
Technical Tools
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator.
XAUUSD Weekly Chart
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator.
XAUUSD Weekly Chart
- The MACD on the weekly chart is in the positive zone.
- The RSI is turning up.
- The Stochastics is headed South.
- The pair has closed the week above 50 periods SMA.
GBP/USD supported ahead of the U.S. inflation report
U.K. and E.U. were said to be very close to Brexit implementation period deal yesterday, which prompted a 50 pip jump in GBP/USD. The pair is trading right at the January - February trendline. A successful breakout would lead to a retest of 1.40. If U.S. inflation report doesn't deliver today, it will make the job much easier.
USD/JPY breaks to the lowest level since 2016
USD/JPY broke 2017 low overnight but it may not be over yet. The breakout is quite significant (longer-term trendline) and there's U.S. inflation report coming up which could send the pair even lower in any case. Weak numbers, USD/JPY falls. Strong numbers, bond yields rise, stocks fall further, USD/JPY falls. The next major support to keep an eye on is 61.8% retracement of the 2016 upswing, around 106.5.
EUR/CHF
EUR/CHF presently mark: 1.15921
Forecast: buy or sell on rectangle breakout
H4 Key points:
Top Resistance: 1.18200
Support: 1.15539
Breakout zone: rectangle
After first long down leg it is expected another one next to some consolidation area (rectangle).
Forecast: buy or sell on rectangle breakout
H4 Key points:
Top Resistance: 1.18200
Support: 1.15539
Breakout zone: rectangle
After first long down leg it is expected another one next to some consolidation area (rectangle).
03022018
Hello, My dear friends and fellow community members,
EURJPY has broken out of the symmetrical triangle to the upside. The height of the pattern comes out to be 390 pips which give us the target of 140.00 levels from the point of breakout. At present the pair is overbought. I will keep a track of this pair to enter at the cheaper levels. This is how the chart looks like.
EURJPY DAILY CHART
Happy trading to all.
EURJPY has broken out of the symmetrical triangle to the upside. The height of the pattern comes out to be 390 pips which give us the target of 140.00 levels from the point of breakout. At present the pair is overbought. I will keep a track of this pair to enter at the cheaper levels. This is how the chart looks like.
EURJPY DAILY CHART
Happy trading to all.
BRENT.CMD/USD WILL SOAR IN FEBRUARY
Technical Tools
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator, Ellipse.
BRENT.CMD/USD Weekly Chart
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator, Ellipse.
BRENT.CMD/USD Weekly Chart
- The MACD on the weekly chart is in the positive zone and rising.
- The RSI is overbought falling.
- The Stochastics is falling.
EUR/USD breaks above 1.21
European currencies outperformed today. EUR/USD gained about 100 pips and is poised to post a highest weekly close in three years. 1.2165 (50.0% retracement of the 2014 - 2017 decline) is a big area. A break above would open door to 1.23 - 1.2330 (LT trendline support, 2008 low) and put 1.25 (LT trendline resistance) into focus.
USD/CHF back above 0.98
USD/CHF broke above the pivotal 0.98 level, after spending one week below it. Position in the futures market is net short, but not at extreme levels, so there might still be some upside potential. Trendline, drawn off of October and December highs, is the area to keep an eye on.
GBPUSD MAY GO TILL 1.4000
Technical Tools
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator, Ellipse.
GBPUSD Weekly Chart
GBPUSD Daily Chart
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Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator, Ellipse.
GBPUSD Weekly Chart
- The MACD on the weekly chart is in the positive zone and rising.
- The RSI is rising.
- The Stochastics is also rising.
- The pair has closed the week above 50 periods SMA.
GBPUSD Daily Chart
[list][/list]…