Category Archives: Forex News

XAU/USD approaching major resistance, prepare to sell

Share This: Price is approaching a major resistance level at 1242.59 (Fibonacci retracement, horizontal pullback resistance) and we expect a reaction off this level for a further drop to 1211.48. RSI (34) is also seeing major resistance above it which would coincide with the reversal we’re expecting. Sell below 1242.59. Stop loss at 1261.23. Take profit at 1211.48… Read More »

Global macro overview for 16/11/2016

Share This: Global macro overview for 16/11/2016: According to the Center of European Economic Research, the economic sentiment continues to improve in Europe. The ZEW surveys provide insight into the mood of institutional investors and analysts. Yesterday the ZEW report for Germany showed a sharp gain of 13.8 points, well above the forecast of 7.9 points. The Eurozone… Read More »

Technical analysis of EUR/JPY for November 16, 2016

Share This: General overview for 16/11/2016: The blue wave (b) is getting extended to the upside. The pattern that is being developed in the wave (b) looks like a double zig-zag, which should terminate around the level of 117.49. According to the bearish scenario, there is still one more wave to the downside missing – the green wave… Read More »

EUR/JPY below major resistance, prepare to turn bearish

Share This: The key idea is to prepare to sell below major resistance at 116.80 (multiple Fibonacci projections, Fibonacci retracement, horizontal resistance) for a drop to 114.87. RSI (34) is also approaching major descending resistance where we expect a reaction from. Sell below 116.80. Stop loss at 117.33. Take profit at 114.87. The material has been provided by… Read More »

AUD/JPY at major resistance, prepare to sell

Share This: Price reached our profit target from previously. We prepare to sell again below 81.91 major resistance (Fibonacci projection, horizontal resistance) for a further push down to 80.27 once again. RSI (34) remains below major resistance at 62% which is capping any bullish movement. Sell below 81.91. Stop loss at 82.65. Take profit at 80.27. The material… Read More »

USD/CHF at major resistance, prepare to sell

Share This: Price has reacted off major resistance at 1.0000 (Fibonacci projection, horizontal resistance, big figure) and we expect a drop to 0.9833 at least. RSI (34) is also reacting off major descending resistance which goes in line with our bearish view. Sell below 1.0000. Stop loss at 1.0050. Take profit at 0.9833. The material has been provided… Read More »

Gold analysis for November 15, 2016

Share This: Since our previous analysis, gold has been trading sideways at the price of $1,226.10. Using the market profile on 15M time frame, I found strong point of control at the price of $1,223.85. Watch for potential breakout of this level to confirm a downward movement. A downward target is set at the price of $1,211.50. Anyway,… Read More »

Global macro overview for 15/11/2016

Share This: Global macro overview for 15/11/2016: The University of Michigan Consumer Sentiment Index was released at 91.6 points last Friday and today’s data of Retail Sales at 02:30pm GMT are highly anticipated. The reason behind the anticipation is quite simple: better-than-expected data might indicate that consumer spending will firm up in the final quarter of 2016. This… Read More »