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 – www.instaforex.com Source: Instaforex

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 USD/CAD for November 16, 2016

Share This: General overview for 16/11/2016: The first wave down labeled on the chart as a wave -a- has been done and now the market is in the internal corrective cycle. The top at the level of 1.3589 might be the swing high of a larger time frame (the brown wave Z). If it is, then the uptrend… 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 »