The daily chart shows a bullish Flag pattern that was initiated around the level of 0.6230 on September 23.
A few months ago, the market was pushed above the weekly key zone around 1.5550 in an attempt to reach the area of 1.5900, which has been providing the GBP/USD pair with significant resistance. Recent weekly candlesticks came as bearish engulfing candles, closing below the level of 1.5220 (the neckline of the Head and Shoulders pattern).
The EUR/USD pair moved lower after breaking below the major demand levels around 1.2100 and 1.2000 where historical bottoms were previously established back in July 2012 and June 2010. EUR/USD bears have previously pushed the price slightly below the monthly demand level of 1.0550 (established in January 1997).
Overview: Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6483 in an ultra high volume due to Draghi’s speech yesterday
Overview Silver price bounced bullishly after an attempt to break out the level of 13.96 yesterday, to fluctuate around the EMA50 again, noticing that stochastic loses its positive momentum gradually to reach the overbought areas, which forms negative factor that we expect to push the price lower. Silver price keeps moving near the EMA 50, while stochastic enters the overbought levels, reinforcing our expectations for the main bearish trend continuation, which is next main targets at 13.50 and then at 13.00. In general, we will keep our bearish trend expectations if the price settles below 14.25 today, where breaching this level might push the price towards the level of 14.85 in order to test it before any new attempt to decline takes place
Overview With 186.00 minor resistance intact, a further fall is still expected in the GBP/JPY pair. A consolidation pattern from 180.36 was completed at 188.79
Overview: A bullish breakout above the zone of 1.2770-1.2800 was observed on July 15 (highlighted in blue). The long-term bullish target was projected towards the level of 1.3270 (100% Fibonacci Expansion).
Overview : According to the previous events and news, the USD/CAD pair is still moving in a ratio of 61.8% Fibonacci retracement levels (at the level of 1.3214) and 100% Fibonacci retracement (at the level of 1.3456).
Overview : The EUR/USD pair has already found support at 1.0745 and 1.0800. Support coincides with a ratio of 23.6% Fibonacci retracement levels.
The EUR/USD pair was very volatile yesterday during the Rate announcement of the ECB, but finally broke above the resistance level at 1.0640 and even tested 1.0950. The downward sloping wedge was finally broken upwards, and the stochastic oscillator verified after giving bullish divergence signals
The GBP/USD pair has made a bullish reversal after touching the lower boundary of the long-term downward sloping wedge. There is more upside to be expected towards 1.5280, but traders should now be very cautious as we are mid-range between support and resistance. In the 4-hour chart, prices have entered the Ichimoku cloud turning short-term trend to neutral from bearish.
Global macro overview for 04/12/2015: The Non Farm Payrolls release is scheduled for 1:30 pm GMT today . Market participants expect quite nice improvement in number of jobs created: 271 K is expected versus 201 K month before. Moreover, the average hourly earnings are forecasted to rise from 0.2% to 0.4%.
The USD/JPY pair made a triple top in the area of 123.70-123.90 and got rejected yesterday.
The US dollar index as expected made a steep decline yesterday following the remarks and policy announcement of ECB President Mario Draghi.
General overview for 04/12/2015 08:50 CET The ending diagonal pattern in wave (c) blue had been completed.
Gold price bounced yesterday as the US dollar weakened after the ECB’s president press conference. But the bounce was very weak relative to weakness in the greenback . Today’s NFP number will play a major role in what we should expect over the coming weeks for gold.
Technical outlook and chart setups: The GBP/CHF pair dropped towards 1.4950/60 levels yesterday. Now it looks like the drop is almost over, and the pair should look up to bulls to reach higher highs and higher lows from here.
EURUSD Forecast The EURUSD had a huge bullish momentum yesterday topped at 1.0980 after ECB decided to extend its QE programme until March 2017 or beyond. Technically, as you can see on my H1 chart below, price broke above the trend line resistance suggests a bullish view. The bias is bullish in nearest term testing 1.1050
GBPUSD Forecast The GBPUSD had a bullish momentum yesterday topped at 1.5158 on broad US Dollar weakness after ECB extends its QE programme until March 2017 or beyond. The bias is bullish in nearest term targeting 1.5200 and the trend line resistance area which is a good place to sell with a tight stop loss above the trend line resistance as you can see on my H1 chart below. Immediate support is seen around 1.5070.
USDJPY Forecast The USDJPY had a bearish momentum yesterday bottomed at 122.29. The bias is bearish in nearest term testing 122.20 key support. A clear break and daily/weekly close below that area could trigger further bearish pressure testing 121.50 – 120.00 area next week.
USDCHF Forecast The USDCHF had a strong bearish momentum yesterday bottomed at 0.9875 on broad US Dollar weakness after ECB’s decision to extend its QE programme until March 2017 or beyond. Technically, as you can see on my daily chart below, we had a valid false breakout bearish scenario challenging the daily EMA 200 located around 0.9680.
EURUSD Forecast The EURUSD was indecisive yesterday.
GBPUSD Forecast The GBPUSD had a bearish momentum yesterday bottomed at 1.4894. The bias is bearish in nearest term testing 1.4850.
USDJPY Forecast The USDJPY attempted to push higher yesterday slipped above 123.60 but closed lower at 123.23. The bias is bullish in nearest term but 123.60 area is a good place to sell with nearest target seen around 122.20 with a tight stop loss
USDCHF Forecast The USDCHF had a bearish momentum yesterday bottomed at 1.0179. The bias is bearish in nearest term as we might have a false breakout bearish scenario testing 1.0100 region. Immediate resistance is seen around 1.0240
Liverpool in Kazan: InstaForex clients enjoyed Europa League match An ordinary day in Kazan, November 5, was marked by an
An ordinary day in Kazan, November 5, was marked by an outstanding event for football fans. That day, the Europa League game between Rubin Kazan and Liverpool FC was played at the Kazan Arena stadium. The UK team arrived in Russia headed by new manager Jurgen Klopp
Changes in trading hours InstaForex would like to inform you about a change in trading hours on November 26-27
InstaForex would like to inform you about a change in trading hours on November 26-27, 2015 due to the national celebration of Thanksgiving Day in the United States. The change concerns the following trading instruments: Spot metals (GOLD, SILVER): 26.11 early close at 20:00 27.11 early close at 20:45 Stock CFDs: 26.11 day-off 27.11 early close at 20:00 Futures on energy and metals: 26.11 early close at 20:00 27.11 early close at 20:45 Agro Futures: 26.11 day-off 27.11 from 16:30 to 20:00 Wheat Futures Soybeans Futures Soybean Oil Futures Soybean Meal Futures Corn Futures 27.11 from 16:00 to 20:00 Lean Hog Futures Feeder Cattle Futures Live Cattle Futures Futures on goods: 26.11 day-off Lumber: 26.11 day-off 27.11 from 17:00 to 20:00 #SPX, #INDU, #COMPQ indices 27.11 day-off