Gold Tentatively Breaks Down as Fed Signals March Hike, Market Complacency Reigns
The price of gold extended this week's losses early on Friday as several Federal Reserve officials, including Fed Chair Janet Yellen, signaled in prepared speeches the likelihood of a mid-March rate hike.
Specifically, Yellen said, "at our meeting later this month, the committee will evaluate whether employment and inflation are continuing
Source: Technical Analysis | 3 Mar 2017 | 10:24 pm
AUD/USD Finally Dips Towards 0.75 ahead of RBA, NFP
The Australian dollar is going to be in focus next week. Retail sales will be released on Monday while the Reserve Bank of Australia will be making a decision on interest rates a day later on Tuesday. Sales are expected to have bounced back 0.4% in January after an unexpected
Source: Technical Analysis | 3 Mar 2017 | 10:21 pm
Daily Technical Analysis
The EURUSD had a bearish momentum yesterday bottomed at 1.0494. The bias is bearish in nearest term testing the lower line of the bearish channel and 1.0450 support area which is a good place to buy with a tight stop loss as a clear break and daily close below that
Source: Technical Analysis | 3 Mar 2017 | 6:00 am
Euro Finds Support Near 1.05 Mark
The common European currency reached below the 1.05 mark against the US Dollar during Thursday's trading session and found support there. As a result the currency exchange rate is surging on Friday. There are two possible outcomes from this situation. First of all the rate might reach the weekly PP
Source: Technical Analysis | 3 Mar 2017 | 5:33 am
GBP/USD Trades In Murky Waters
For the fifth consecutive time the British Pound weakened against the US Dollar on Thursday. The pair managed to retain its positions above the monthly S1, but another spark of GBP-selling is likely to cause the Cable to fall below this support level. Moreover, technical indicators are bolstering the possibility
Source: Technical Analysis | 3 Mar 2017 | 5:31 am
USD/JPY Tests Key Resistance
March rate hike expectations continued to bolster the American Dollar yesterday, allowing it to approach the key resistance around 114.60 area. From the technical perspective the USD/JPY currency pair should now make a U-turn and continue to consolidate between 111.75 and 114.75. Technical indicators somewhat confirm this, as they keep
Source: Technical Analysis | 3 Mar 2017 | 5:29 am
Gold Passes Long Term Support
The yellow metal has suffered major losses and is still positioned to fall even further, as by the end of Thursday's trading session a massive and strong support cluster was passed. During the early hours of Friday's trading session the bullion attempted to break above the cluster near the 1,235
Source: Technical Analysis | 3 Mar 2017 | 5:26 am
USDJPY Is Consolidating Under Daily Cloud Top, Further Upside Favored, Rising Cloud Base To ...
The pair consolidating on Friday under fresh recovery high at 114.58, posted on strong three-day bullish acceleration from 111.67 low. Recovery approached strong barriers at 114.80 (daily cloud top) and 114.94 (15 Feb spike high), break of which would confirm daily double-bottom pattern for stronger recovery of larger 118.59/111.60 descend.
Source: Technical Analysis | 3 Mar 2017 | 4:14 am
GBPUSD Probes Below Fibo Support At 1.2260, Thickening Hourly Cloud Maintains Pressure
Cable remains under strong pressure and is on renewed attempt below cracked support at 1.2260 (Fibo 61.8% of 1.1986/1.2704 rally). Daily close below the latter is needed for stronger bearish signal for extension of bear-leg 1.2568 (24 Feb high) towards 1.2155 (Fibo 76.4% retracement), violation of which would attract key
Source: Technical Analysis | 3 Mar 2017 | 4:09 am
EURUSD – Return To 1.0492 Low Signals Further Weakness, Daily Tenkan-Sen To Cap Recovery Attempts
Renewed probe below 1.0500 handle that resulted in full retracement of 1.0492/1.0629 corrective leg confirms strong bearish stance. The pair is on track for the fourth consecutive bearish weekly close that supports scenario of further weakness. Yesterday's final close below 1.0525 (Fibo 61.8% of larger 1.0339/1.0827 rally) gave another bearish
Source: Technical Analysis | 3 Mar 2017 | 4:05 am
The CAC40 Rebounds up 1.97%
The CAC40 is beginning to retrace some of its early 2016 losses after bouncing off of long term support.
Source: DailyFX - Technical Analysis | 22 Jan 2016 | 8:00 am
NZD/USD Technical Analysis: Kiwi Jumps Most in 3 Months
The New Zealand Dollar launched an impressive recovery against its US namesake after finding support near the 0.64 figure, surging to yield its largest daily gain in three months.
Source: DailyFX - Technical Analysis | 22 Jan 2016 | 6:08 am
Silver Prices Contraction in volatility nearing resolution
Contracting volatility in silver is on the verge of creating a potentially rewarding breakout opportunity.
Source: DailyFX - Technical Analysis | 22 Jan 2016 | 5:57 am
FTSE 100: Close to Ending Its Downward Trend Following ECB and BoJ
The current rally is a continuation of the bullish bias supported by the dovish tone at yesterday’s ECB meeting and the markets are now pricing in a 90% likelihood of a 10 bps reduction in the deposit rate by March.
Source: DailyFX - Technical Analysis | 22 Jan 2016 | 5:36 am
AUD/USD Technical Analysis: Looking to Re-Enter Short Trade
The Australian Dollar short sharply higher against its US counterpart, producing the largest one-day advance in seven months and reclaiming a hold on the 0.70 figure.
Source: DailyFX - Technical Analysis | 22 Jan 2016 | 4:12 am
JPN 225 Technical Analysis: Consolidate after Brief Support Break
JPN 225 retraced up to 10-day MA after brief breach of support, in typical consolidation before weekend. Downtrend has not abated
Source: DailyFX - Technical Analysis | 22 Jan 2016 | 12:48 am