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Australian dollar and the Fed
The Australian dollar is directionless today after 2 days of movement, but may have received some new found support after doubts one again hang over the US Federal Reserve’s ability to lift interest rates this year. Inflation numbers once again hit the market below expectations and still sit well be...
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Gold Double Bottom Support is Broken
Gold Double Bottom Support is Broken
The gold enjoyed a steady uptrend during Monday but a small doji (stop candle) that appeared at W L3 resistance suggested a possible momentum change. Straight after the doji has been formed the price continued to fall and it finally broke the double bottom and D L3 pivot. Traders should pay attentio...
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EUR/USD, GBP/USD Arrive at Critical Decision Zones
EUR/USD, GBP/USD Arrive at Critical Decision Zones
EUR/USD uptrend remains intact as long as price stays above two key support zones at 1.18 and 1.17 whereas the GBP/USD could be ready for a larger bearish breakout. The USD/JPY is in bearish reversal that could fall towards the 61.8% Fib. Watch the 10 min video here: Many green pips, Chris Svor.....
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USD/CAD Dark Cloud Cover Might Reverse the Price
USD/CAD Dark Cloud Cover Might Reverse the Price
The USD/CAD is showing the DCC (Dark Cloud Cover) variant pattern formation on 4h timeframe. The formation is noticed within the range of Weekly resistance pivots, and the price is trying to pullback within the POC zone where it might reject. The POC zone 1.2500-1.2520 (W H3/H4, trend line, DCC, D.....
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WTI Ascending Channel Intact
WTI Ascending Channel Intact
The WTI is in a strong AP ascending channel and currently it's trying to reach strong D H5 resistance. We might see some short term profit taking here, leading to retracement. Potential fresh buying interest comes within the POC zone 50.65-85 (D H3, order block, ATR pivot, channel bottom) where we.....
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Gold technical review 22
Gold technical review 22
As we said yesterday, the possibility that gold would run into resistance at the $1,300 level has eventuated but the overall picture looks good so far in today’s trading as the price has remained above yesterdays close. We think that it may take a couple of trading sessions to finally break back thr...
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Gold technical review 21
Gold technical review 21
The gold price in on track today to rack up its 5th straight day og gains and from a technical position we can see on the chart that in each of the previous 5 sesions, gold has nanaged to break through a previous, support or resistance level. As long a there is no sell off later in the trading sessi...
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EUR/JPY Hidden Bullish Divergence Within the Zone
EUR/JPY Hidden Bullish Divergence Within the Zone
The EUR/JPY has formed a hidden bullish divergence and both the PPR and AP channel are pointing to the upside. Bulls are dominating the market so pullbacks could be possibly bought into on intraday time frame providing that the pair stays above the D L5 132.38. The POC zone is 132.80-95 ( D L4, AP c...
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EUR/USD Trend Lines in Confluence with POC zone
EUR/USD Trend Lines in Confluence with POC zone
The EUR/USD is in a strong bullish trend and as we can see on the chart the price has pierced through 1.1800 driven by risk sentiment and the Spain situation. Today FOMC meeting minutes are the most important event so we might see two-way price action. At this point the price is still going up strai...
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Oil to remain flat
The oil price is set to remain stagnant over the next few years according to some analysts with the outside possibility that the price could tumble if Opec members fail to cooperate or production levels from the US continue to rise. Oil production from the United States has risen 10 percent this yea...
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USD/JPY Possible Reversal due to Risk-Off
USD/JPY Possible Reversal due to Risk-Off
As Equities continued to sky rocket today, it seems we are experiencing some early signs of risk-off as the Catalonia/Spain saga continues, and the US Economic Optimism Index falls. Oil continues to rise with Saudi Arabia cutting production, and production was stifled in the US due to the Hurricane....
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Mini gold rally wont last
After hitting a low of $1,260 3 days ago, the gold price has rallied nearly $30 to be trading around $1,289 today and some are predicting that the rally is about to end. Comments by US president Donald Trump over the weekend that only action and not talk will end North Korea’s nuclear ambitions help...
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Market Commentary Tuesday 10 October 2017
Market Commentary Tuesday 10 October 2017
Tuesday 10 October 2017 EURUSD The EUR/USD pair managed to advance modestly this Monday, as half a holiday in the US, with Wall Street working, but pretty much everything else closed in the country, keeping majors within limited ranges. The pair ended the day marginally higher around 1.1750, merely ...
1
Australian dollar in trouble
The Australian dollar is once again under pressure today, sitting at its lowest level in 3 months against its US counterpart and it may be in for further losses with a possible rate cut from the RBA in the nearest future. Last Friday Reserve Bank of Australia board member Ian Harper said he wouldn’t...
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Market Commentary Monday 9 October 2017
Market Commentary Monday 9 October 2017
Monday 9 October 2017 EURUSD The EUR/USD pair closed down for a fourth consecutive week, ending a busy Friday at 1.1733. The weekly decline was a combination of political jitters in Spain and a dovish stance towards rates from the ECB weighing on the common currency, coupled with solid growth data f...
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EUR/USD Could Drop Again From the Confluence Zone
EUR/USD Could Drop Again From the Confluence Zone
The U.S. Economy lost approximately 33k jobs in September according to latest NFP report. The unemployment rate dropped 0.2% to 4.2%, while wages jumped 0.5%. Worse than expected NFP result was primarily due to hurricanes on the U.S. coast and in my opinion, it doesn't reflect the USD weakness at al...
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EUR/USD Falling Wedge and GBP/USD Bear Impulse
The EUR/USD is building a falling wedge reversal chart pattern at the 23.6% Fib support at 1.17 and offers both a breakout and bounce setup. The GBP/USD bearish momentum was strong but price is now building a correction. The bullish retracement could be pullback of a larger downtrend and price coul....
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Gold likely to fall
Gold likely to fall
The gold price can’t seem to go anywhere today as traders sit on the sidelines awaiting the non-farm payrolls report and the unemployment rate from the US due out later this afternoon. The figure for the non-farm expected by the market is 90,000 which is well down on last month’s number of 156,000. ...
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USD/JPY NFP Analysis: Bullish Bias Prevailing but Watch the NFP
USD/JPY NFP Analysis: Bullish Bias Prevailing but Watch the NFP
The USD/JPY has been consolidating within the PPR channel (green) with a slightly bullish bias due to Bullish SHS breaking out of the channel and AP forks pointing up. However the most important event today is the NFP with unemployment data and average hourly earnings. Depending on results, we might...
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Market Commentary Friday 6 October 2017
Market Commentary Friday 6 October 2017
Friday 6 October 2017 EURUSD After a firm, but soft start to the day, the bid tone of the American dollar gathered momentum in the US session, following strong US data and hawkish comments from different Fed's speakers. Additionally, the common currency took a hit from the ECB's meeting minutes rele...
1
Gold awaits key jobs data
Gold awaits key jobs data
The gold price is on the rebound today as investors await tomorrows all important jobs data out of the US and depending on the numbers, gold could go either way. The market is currently pricing in a 70 percent chance that the US Federal Reserve will lift interest rates before the end of the year. If...
1
EUR/GBP Strong Marubozu Candle Cues for Continuation
EUR/GBP Strong Marubozu Candle Cues for Continuation
The EUR/GBP has recently made an upside breakout from the PPR channel, signaled by a strong Marubozu candle that could provide a continuation of uptrend towards 0.8950 and 0.8980. However, traders need to pay attention towards possible retracement as I showed in High Volatility trading video that is...
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Market Commentary Thursday 5 October 2017
Market Commentary Thursday 5 October 2017
Thursday 5 October 2017 EURUSD The American dollar faltered for a second consecutive day, ending it marginally lower against most of its major rivals, but not far from its recent highs. The greenback eased early Wednesday on headlines indicating that Fed governor Jerome Powell was favored by US trea...
2
Oil set to rebound
The Oil price has finally settled in today’s trading after a week of heavy losses on the back of profit taking and some say that the price may once again head higher. FOLLOWING a solid month of gains, investors decided to cash in on the higher prices which has driven the oil price down almost 10 per...
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EUR/USD Downward 4 Hour Channel is Broken
EUR/USD Downward 4 Hour Channel is Broken
The EUR/USD is trying to break the downward PPR channel and at the same time push above the AP channel. I am favoring a bullish bias as long as 1.1692 holds as I previously analysed in the EUR/USD analysis. If bullish scenario persists 1.1822 is the target followed by 1.1873 and 1.1916. Of course, ....
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Market Commentary Wednesday 4 October 2017
Market Commentary Wednesday 4 October 2017
Wednesday 4 October 2017 EURUSD The greenback gained ground at the beginning of the day, but changed course in the American afternoon to end the day marginally lower against the EUR. The pair traded as low as 1.1695 on the back of persistent dollar's demand, fueled during Asian trading hours by a do...
1
Gold may struggle to rebound
The gold price is under further pressure today as investors exit the safe haven commodity in favour of the US dollar after yesterday’s positive round of economic data from the US ISM manufacturing PMI numbers hit the market at 60.8, well above expectations for a figure of 58 and all but guarantees ...
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USD/JPY Could drop as long as it is below 113.45
USD/JPY Could drop as long as it is below 113.45
The USD/JPY trend is bullish as we can see from the PPR channel, but last few days we see a consolidation below the W H4- weekly H4 camarilla pivot that could tank the price towards 112.40 and 112.00. There is a confluence at the top of the range exactly at the AP channel high. 112.90-113.15 is the ...
2
Market Commentary Tuesday 3 October 2017
Market Commentary Tuesday 3 October 2017
Tuesday 3 October 2017 EURUSD It was another rough start to the week for the EUR as the common currency was affected by political jitters in Spain. The Catalonian referendum, which resulted in hundreds injured as the central police clashed with local voters, revived concerns over the fragility of th...
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Euro hit by political uncertainty
The Euro looks set for a week of volatility after a referendum over the weekend by the Catalonian government in Spain where voters overwhelmingly voted to break away from Spain. With over 40 percent voter turnout and 90 percent declaring a ‘Yes’ vote for independence, Carles Puigdemont, Catalonia’s ...
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