Daily Technical & Fundamental Analysis

Daily Analysis | USD/JPY | 18 of September
18 September, 2017 12:35

Daily Analysis | USD/JPY | 18 of September

The USD/JPY is being pushed towards next resistance by the backwind of risk on sentiment that is currently dominating the Forex market. When risk on sentiment is prevailing Gold goes down, Commodities are up, Equities are up and Yen weakens as a result. Adding to that is a Bullish SHS (head and shoulders) pattern that signifies now moment buyers. 110.45-70 is the POC zone and if the price retraces we might see another bounce to the upside towards 111.40.

Daily Analysis | GBP/USD | 14 of September
14 September, 2017 15:25

Daily Analysis | GBP/USD | 14 of September

The Bank of England MPC decision is due at 11 PM GMT. Market is expecting that policymakers leave interest rates at 0.25 %. But what traders and investors should be focused at is how many of policymakers will vote for a hike and how many will be against the hike. Technically the GBP/USD is in uptrend but that can easily change after today's data and MPC official bank rate votes. 1.3270-85 is the important zone (W H3, D H4, ATR projection high) and the price could reject from the zone once the zone is hit. If the price proceeds above the zone 1.3330-1.3365 is the next zone (D H5, historical bearish order block, previous high, W H4) and rejections should happen there too.

Daily Analysis | USD/JPY | 12 of September
12 September, 2017 16:58

Daily Analysis | USD/JPY | 12 of September

Despite strong Core Machinery Orders in Japan today, signaling strength in their manufacturing sector; UJ continues to move bullish after this weekend's gap up, and this is largely as a result of risk-on sentiments across the risky assets such as Equities. The retracement has started after a V shaped reversal pattern and the intraday/week trend turned to bullish.

Daily Analysis | EUR/USD | 11 of September
11 September, 2017 15:21

Daily Analysis | EUR/USD | 11 of September

The EUR/USD retraced from its highs on Friday and currently it is retracing towards the POC zone. The POC (D L4, W L3, EMA89, ATR Pivot, Bullish order block, 61.8) is 1.1970-1.1985 and we could see a bounce. Historical buyers should align with now moment buyers within the zone and the target is 1.2046-1.2068. Only a breakout and/or 4h close above 1.2070 should rally the price towards 1.2103 and 1.2157. Bears could gain the upper hand below 1.1945 and if the price gets below the target is 1.1910.

Daily Analysis | USD/CAD | 8 of September
08 September, 2017 16:50

Daily Analysis | USD/CAD | 8 of September

The EUR/JPY has been making lower highs and lower lows and the previous retracement has broken the trend line suggesting further downside. If the price gets to 130.10-28 POC (trend line, X cross, EMA89, D L3, WL3, 50.0) we might see another rejection towards 129.50. Break of 129.50 should target 120.20 and only a high downside momentum can push the price towards 128.69 - Weekly camarilla L5 support.
 

Daily Analysis | USD/CAD | 7 of September
07 September, 2017 15:25

Daily Analysis | USD/CAD | 7 of September

As we have seen tightening in the US by the Fed over the past year, there usually is a correlation with other Western economies following the US lead in returning Monetary Policy to historical levels. In this case, the BoC had increased their rate for the second time in recent months largely following an improvement in GDP Growth, along with price stability in their major export Oil and Gas. Needless to say, BoC is somewhat hamstrung with its ability to continue hiking due to its high household debt levels along with real estate prices in Toronto having dropped 20% since April 2017.

Daily Analysis | GBP/USD | 5 of September
05 September, 2017 15:39

Daily Analysis | GBP/USD | 5 of September

As we could see on my yesterday's Session Recap webinar, the GBP/USD has perfectly rejected from the POC zone I showed making a total of 60 pips that accounts for 90 % of its ATR(14). Today we can see that 2 POC(S) zones could be above the price as sellers might be waiting there. A slight miss in UK CPI could encourage fresh seller to kick in within 1.2990-1.3000 and possibly 1.3030. We can see how the price respects W L3- W H3 standard camarilla range (70 % of the time) so we might see another rejection towards the 1.2900 zone.

Daily Analysis | USD/JPY | 22 of August
22 August, 2017 14:50

Daily Analysis | USD/JPY | 22 of August

The USD/JPY is showing a confluence zone above the price and it could reject soon. H1 chart shows a downtrend and 109.50-70 (EMA89, 61.8, order block, ATR pivot, D H5) should reject the price possibly towards D H3 109.14 and 108.71 D L3. A spike above weekly H3 109.84 could reverse the trend to the upside possibly targeting 110.16 a confluence of 88.6 and previous order block.

Daily Analysis | USD/CAD | 21 of August
21 August, 2017 13:45

Daily Analysis | USD/CAD | 21 of August

The USD/CAD made another bearish swing during previous week as the Canadian CPI data was better than the previous reading. The CPI is the most important inflation-related release due to its earliness and broad scope. At this point the pair is having a retracement due to the bullish divergence formed at bottom. If the pair retraces to POC 1.2635-1.2652 (ATR high, EMA89, D H4, W H3, 61.8, historical sellers) we could see a rejection towards 1.2615 and 1.2588. But if the pair doesn;t retrace to POC we could see a trend line break. Break below 1.2588 should spur a continuation towards 1.2540 and 1.2520.

Daily Analysis | EUR/USD | 17 of August
18 August, 2017 15:44

Daily Analysis | EUR/USD | 17 of August

The EUR/USD has been bought on dips exactly from the zone I showed during Live trading webinar. Major weekly L5 support is still keeping the pair within the bullish range with a potential to break above 1.1790. If the pair drops to POC zone (W L5, D L4, trend line, ATR low) 1.1680-50 it could possibly spike again towards 1.1755. Above there is cluster of resistance 1.1777, 1.1790 and 1.1800. Only above 1.1800 (ATR high) we can see a continuation towards 1.1850, 1.1864 and 1.1907.
However a loss of 1.1650 should tank the pair down to 1.1593.
 

Daily Analysis | USD/CAD | 15 of August
15 August, 2017 15:02

Daily Analysis | USD/CAD | 15 of August

The USD/CAD has been in a steady uptrend. The price has formed an ascending flat top triangle that suggest an uptrend continuation. But the price has already reached the W H4 camarilla pivot so bulls need to be careful. If the pair breaks 1.2760 then 1.2805 will be possible. If there is no breakout to the upside then a retracement towards the POC 1.2700-15 (50.0, D L3, ascending triangle trend line, EMA89) will be possible. New buyers might appear within the POC zone and spike the price up towards the 1.2760 and above mentioned targets. However, bulls should pay attention to 1.2700 break to the downside. If that happens, the pair might experience a temporary weakness leading to 1.2656-45 zone.

Daily Analysis | EUR/JPY | 14 of August
14 August, 2017 11:48

Daily Analysis | EUR/JPY | 14 of August

The EUR/JPY broke below the leaned head and shoulders pattern and touched the 128.04 before making a correction. At this point the price is close to possibly completing a correction due to a cluster of strong confluence points that make the POC zone. The POC 129.80-113.00 (W H4, D H4, bearish order block, 78.6, ATR high) could reject the price towards D H3 -129.40 but only a H1 momentum candle or H4 candle close below 129.40 could further tank the price towards 129.00 and 128.60.