Category Archives: Forex News

GBP/USD on major support, turn bullish

Share This: Price has made a bullish exit of its descending channel and is testing the key support at 1.2444 (Fibonacci retracement). We expect a bounce from here towards 1.2678 (horizontal pullback resistance, Fibonacci projection). Stochastic (21,5,3) has bounced above the key support. RSI (34) is also bouncing above the long-term ascending support. Buy above 1.2444. Stop loss… Read More »

Technical analysis of AUD/CAD for November 17, 2016

Share This: AUD/CAD found the resistance at 1.0400 and declined sharply. While moving down, the pair broke below the uptrend trendline and continued trading below both 50 and 200 moving averages. Fibonacci applied to the trendline breakout point shows that the pair broke below 23.6% Fibs support (1.0033) and now could be ready to move lower to test… Read More »

Technical analysis of EUR/CAD for November 17, 2016

Share This: EUR/CAD is still trending downwards after breaking the support at 1.4600 area and remains below both 50 and 200 Moving Averages. The corrective wave applied after breakout of the support occurs shows that pair broke below the 261.8% Fibs support which opens doors for another potential wave down. Consider selling EUR/CAD at the current rate (1.4390)… Read More »

Global macro overview for 17/11/2016

Share This: Global macro overview for 17/11/2016: The Crude Oil Inventories data released yesterday revealed another rise in the stockpiles. Market participants expected a decrease this week from 2432k barrels to 1267k barrels, but the figure revealed was at the level of 5274k barrels. Meanwhile, OPEC members will assemble again on November 30th in Vienna and will try… Read More »

Technical analysis of USD/JPY for November 17, 2016

Share This: USD/JPY is expected to trade with a bullish bias. The pair is trading under its 20-period and 50-period moving averages, but still holds above its key horizontal support at 108.35. The technical indicators are mixed, and calling for caution. Even though a continuation of the consolidation at the current stage cannot be ruled out, its extent… Read More »

Daily analysis of Gold for November 16, 2016

Share This: Overview The gold price continues fluctuating within a sideways range between the 1,211.31 support and the 1,249.94 resistance. Thus, we still keep our outlook neutral until the price manages to breach one of these levels and detect its next track clearly. Note that a break of 1,211.31 levels will extend the correctional bearish wave to target… Read More »

Daily analysis of Silver for November 16, 2016

Share This: Overview The silver price gradually crawls upwards approaching from retesting the 17.43 level, which represents 50% Fibonacci level that was broken previously. Stochastic reaches the overbought areas thresholds, while the EMA50 forms continuous negative pressure on the intraday and short-term trading. Therefore, we still suggest the bearish trend in the upcoming sessions, and the targets begin… Read More »

XAG/USD approaching major resistance, prepare to sell

Share This: Price is approaching a major resistance level at 17.189 (Fibonacci retracement, horizontal pullback resistance) where we expect a reversal from for a further drop to 16.637. RSI (21) is also approaching pullback resistance. Sell below 17.189. Stop loss at 17.540. Take profit at 16.637. The material has been provided by InstaForex Company – Source: Instaforex