MARKET ANALYSIS

2017-02-21 16:45:05 UTC+00

EUR/JPY bounced perfectly above support, remain bullish
The price has bounced perfectly above our support and is reaching our profit target. We remain bullish above 119.64 support (Fibonacci retracement, Fibonacci extension, and horizontal support). Target would be 120.66 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (21,5,3) is seeing strong support above the 6.4% level.
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2017-02-21 16:44:39 UTC+00

AUD/JPY bounced perfectly off support, remain bullish
The price bounced perfectly off our support level yesterday. Now we remain bullish above 86.72 support (Fibonacci retracement, horizontal overlap support) for a further push up to 87.48. We adjust our stop loss to 86.25 which is breakeven to protect our position. Stochastic (55,5,3) is seeing strong support above the 6% level which it is bouncing above.
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2017-02-21 13:48:01 UTC+00

Daily analysis of GBP/USD for February 21, 2017
The GBP/USD pair keeps fluctuating near the intraday bullish channel's support, and the price faces negative pressure from the EMA50 and stochastic.
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2017-02-21 13:44:40 UTC+00

Daily analysis of USD/JPY for February 21, 2017
The USD/JPY pair shows positive trading with the beginning of this day approaching from the critical resistance at 113.97.
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2017-02-21 13:41:46 UTC+00

Daily analysis of Gold for February 21, 2017
Gold price achieved a break to the minor bullish channel's support, and stochastic provides negative signal now that supports the continuation of the decline in the upcoming period.
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2017-02-21 13:35:29 UTC+00

Daily analysis of Silver for February 21, 2017
The price pushes negatively on the critical support at 17.90 to move below it now, which provides signals for potential test to the critical support at 17.43 before it returns to resume the main bullish trend.
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2017-02-21 12:51:20 UTC+00

USD/CAD intraday technical levels and trading recommendations for February 21, 2017
Recent bearish pullback toward 1.2970 (61.8% Fibonacci level) offered a valid BUY entry as expected in the previous articles. This week, a bullish breakout above 1.3300 (50% Fibonacci Level) is needed to enhance bullish advance toward 1.3440 and 1.3550. Otherwise, the USD/CAD pair remains trapped within the current consolidation range (1.2970-1.3300). On the other hand, DAILY closure below 1.2970 (61.8% Fibonacci level) will confirm a double-top pattern with projected bearish targets at 1.2860, 1.2730, and 1.2600.
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2017-02-21 12:40:01 UTC+00

NZD/USD intraday technical levels and trading recommendations for February 21, 2017
Bearish persistence below 0.7250 was needed to allow further bearish decline toward 0.7100 (note the previous bearish DAILY candlesticks within the SELL-Zone). The current bearish pullback toward 0.7100 should be watched for possible bullish price action. Otherwise, bearish persistence below 0.7100 will probably allow further bearish fall towards 0.6960.
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2017-02-21 12:26:54 UTC+00

Global macro overview for 21/02/2017
The Monetary Policy Meeting Minutes from the Reserve bank of Australia had provided a few interesting remarks regarding the economy and monetary policy.
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2017-02-21 12:22:44 UTC+00

Intraday technical levels and trading recommendations for GBP/USD for February 21, 2017
Risky traders considered this bullish pullback toward the price zone of 1.2700-1.2750 to be a valid SELL entry. All T/P levels were successfully reached. On January 16, a bullish engulfing candlestick was expressed around the demand level of 1.2000. That is why another bullish breakout above 1.2430 was initiated. The next bullish target is located around 1.2750 where bearish rejection should be expected.
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