AUD/USD – Bearish Floodgates Waiting To Open After Dismal Job Numbers

AUD/USD – Bearish Floodgates Waiting To Open After Dismal Job Numbers

Latest employment data from Australia showed more and more used by 1.1k in October compared with an expected 10.0K. This would be reason enough to send bearish AUD / USD lower to rush, but the data in the overall figure is even more bearish. the number of full-time jobs fell by 27.9K, one of the largest monthly decline we've seen in the last five years. The only reason that headline figure still appears positive is due to a number of part-time employment grew 28.9K. One saving grace was the turnout that was maintained at 64.8%, suggesting that the unemployed are still looking for work. But given that expectations for the participation rate to increase to 64.9% and 64.8% of the previous month was the result of a lower revision number this month is still considered as slightly bearish.

Time Table

Therefore, it is not surprising to see AUD / USD down almost 50 pips after 'ad. It is likely that there were additional downward pressure following technical traders break 0,952 support and increase the bottom of the channel. However, at present a technical point of view, the possibility of a bullish downturn is high with prices that can not match the lowest of November 5, with stochastic readings suggesting that the bearish momentum may be more for now as readings longer point in the oversold region.

table Daily

Daily Chart is less optimistic, however, with prices towards the Top channel following the 0.952 rebound. Stochastic readings are oversold, but it seems that we have avoided a bull cycle signal, highlighting the strong bearish bias as the price is right now.

put together short-term and long-term chart, the most bearish scenario would be the price break the 0,942 that will trigger further bearish acceleration in the short term. On the daily chart of the push will result in a downtrend reversal Tweezers Top, while stochastic readings will be able to move below 20.0 more resolutely, increasing bearish conviction in both the S / T L / T delay.

Links:
GBP / USD - consolidates around 1.61
EUR / USD - Get above the 1 key 35 Level
Dow 30 - New record Close but downside risk remains

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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Read More : AUD/USD – Bearish Floodgates Waiting To Open After Dismal Job Numbers

AUD/USD – Bearish Floodgates Waiting To Open After Dismal Job Numbers

AUD/USD – Bearish Floodgates Waiting To Open After Dismal Job Numbers

Latest employment data from Australia showed more and more used by 1.1k in October compared with an expected 10.0K. This would be reason enough to send bearish AUD / USD lower to rush, but the data in the overall figure is even more bearish. the number of full-time jobs fell by 27.9K, one of the largest monthly decline we've seen in the last five years. The only reason that headline figure still appears positive is due to a number of part-time employment grew 28.9K. One saving grace was the turnout that was maintained at 64.8%, suggesting that the unemployed are still looking for work. But given that expectations for the participation rate to increase to 64.9% and 64.8% of the previous month was the result of a lower revision number this month is still considered as slightly bearish.

Time Table

Therefore, it is not surprising to see AUD / USD down almost 50 pips after 'ad. It is likely that there were additional downward pressure following technical traders break 0,952 support and increase the bottom of the channel. However, at present a technical point of view, the possibility of a bullish downturn is high with prices that can not match the lowest of November 5, with stochastic readings suggesting that the bearish momentum may be more for now as readings longer point in the oversold region.

table Daily

Daily Chart is less optimistic, however, with prices towards the Top channel following the 0.952 rebound. Stochastic readings are oversold, but it seems that we have avoided a bull cycle signal, highlighting the strong bearish bias as the price is right now.

put together short-term and long-term chart, the most bearish scenario would be the price break the 0,942 that will trigger further bearish acceleration in the short term. On the daily chart of the push will result in a downtrend reversal Tweezers Top, while stochastic readings will be able to move below 20.0 more resolutely, increasing bearish conviction in both the S / T L / T delay.

Links:
GBP / USD - consolidates around 1.61
EUR / USD - Get above the 1 key 35 Level
Dow 30 - New record Close but downside risk remains

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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EUR/USD Technicals – Triple Top Formed, Awaiting Confirmation

EUR/USD Technicals – Triple Top Formed, Awaiting Confirmation

And the continuing slide

prices have been bearish since 2014 and we have not seen any significant bullish response seen. The last episode of bearishness took place during the session of the United States on Friday that broke the previous consolidation zone and sent prices below 1.36. Despite a slight decline up during the last hour of trade, prices remained below 1.36.

Time Table

saw trading this morning slight continuation of Friday's decline, but held firm 1.36. There were some other attempts within hours that followed, but 1.36 remained stubborn, allowing downward pressure to build the descending channel will be active in the game, even if prices remain flat for the next few hours. However, we do not need to wait a few more hours for the next step downward price fell below the already low last Friday earlier. Therefore, do not be surprised if we see prices push lower here especially as vast Asian market at the moment is very risk averse with China HSBC / Service PMI market coming lower than the previous month. Given the current bearish sentiment, bears may hang excuse they can find to sell on.

Stochastic indicator dampens bearish cheers if, with readings currently in the oversold region. In addition, since the volume of transactions remains low, there is a chance that current bearishness may not reflect the rest of the market. Therefore, even if S / T trend is bearish, traders may still want to limit their risk (eg, stricter stop losses) in the light of potential bullish sudden peaks.

Table Daily

daily chart remains bearish however, and a Triple Top was formed which opens a long-term movement 1.31. With such potential for bears track, merchants can afford to lose a bit of tarmac to ensure that this downward flight is actually taking off before committing. This can be in the form of waiting the confirmation of the 1363 rupture. Stochastic readings are now approaching oversold territory and a bullish reversal potential to 1363 can not be excluded - in line with the short-term analysis that keeps open the possibility of bullish downturn. If an S / T decline takes place, but the price remains below 1,363, a push interim support 1344 -. 1345 becomes more assured

Fundamentals support a long-term downward push as well, with USD should strengthen on QE Tapers and EUR weakening when the financial problems of the EU periphery appear once more. There is also the continuing problem of unemployment in the EU, and Draghi of the ECB could be forced to implement the negative deposit rate possibly stimulate spending

Links :.
Gold Technicals - Internal Trade S / T uptrend channel
GBP / USD - Pound drops to start 2014
USD / JPY - Yen Fights Back As US Unemployment Claims Misses Estimate

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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EUR/USD Technicals – Bullish Above 1.35 With 1.354 In Sight

EUR/USD Technicals – Bullish Above 1.35 With 1.354 In Sight

Time Table

Despite accusations (made by me, unfortunately) that EUR / USD underlying sentiment may turn bearish, prices have managed to break the resistance 1.35, knock over in 1354 beginning of the US session. bullish momentum fizzled as the US session continued, but prices remained above 1.35, suggesting that the bullish momentum certainly not over, and earlier assertions that the bears can be caught earlier are unfounded.

The reason for the rally in EUR / USD can not be fundamentally based, as there was no announcement of news that could have inspired a stronger EUR. The mere announcement of significant new (euro area trade balance and current account was not exactly bullish). In addition, the break of 1.35 is reached during the Asian session, suggesting that the strong subsequent recovery during the European session can simply be inspired by upward pressure escape.

On the other hand, there were good fundamental reasons for USD strengthening in the US hours. Net cash long-term TIC increased $ 25.5 in September, showing that foreigners make long-term confidence in economic growth in the United States / health. A net inflow of funds in US is bullish for USD in itself, but in this case, the support of economic growth in the long run by foreign investors is yet one more reason for the Fed to consider narrowing QE, resulting in EUR / USD pushing lower.

Currently, from a technical point of view, the price should head lower towards Bottom Channel, but looking Stochastic curve highest peak, a case that we are in the middle of a cycle bull can be done as we have seen the same Stoch Trough Thursday. Therefore, a movement towards Channel Top can not be excluded.

Table Daily

Daily Chart is bullish with the release of 1.35, opening a potential movement the lower face of the rising trend line. However, stochastics tells us that the bullish momentum is already hitting overbought region, suggesting that the current bullish momentum might not be able to last too far.

However, the fundamentals do not look on this increase EUR / USD kindly. Growth in the euro area remains weak, and a large part of the recovery effort in the euro area was awarded to Germany alone. Structural problems in Italy, Spain, Portugal and the rest, while other peripheral EU nations are much worse. Therefore, a bullish convincing sound worth EUR narrative. On the other hand, we have USD that grows from strength to strength due to speculation that the Fed will shrink in early 2014, except December. Even if the Fed does not shrink, US stocks are on track for strong growth in 2014 (does not matter, even if speculative). Therefore, we will continue to see the flow of foreign funds into US (as evidenced by the figures ICT) will lead USD higher and therefore EUR / USD over the long term.

Therefore, even word of caution remains - participate in the EUR / USD bull run if you run, but be aware that things can dramatically reverse once Eurozone woes back in focus

links:
. AUD / USD - Bearish Bias Remains Despite RBA Minutes Reflecting non-commitment to cut rates
GBP / USD - Pound As little change remains above 1.61
USD / CAD - Loonie Edges higher as Purchases of foreign securities jumps

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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AUD/USD Technicals – Back Within 0.892 – 0.897 Consolidation

AUD/USD Technicals – Back Within 0.892 – 0.897 Consolidation

Time Table

despite the strong bearishness seen in AUD / USD in 2013, the bulls actually did much better compared to the other major pairs return, as EUR / USD and GBP / USD. Prices have retraced a much more important part of the post lower narrowing from the rest, with today's gathering even managing to push above the peaks that occurred after wild fluctuations display ad FOMC. Prices have since traded lower towards 0,892, but even then we are above the tops of pre FOMC announcement, noting the strong upward bias currently in. Not only that, it seems that the bears can not not be able to push much beyond 0,892, with additional support coming in the form of higher Top Channel, making a push 0.897 a possibility.

However, it is not all rosy for the bulls. Stochastic readings actually encourage more bearish pullback with a down cycle signal is formed in the last two hours. Again, the Stochastic curve can probably rebound after several "support levels" between 40.0 to 60.0, which is consistent with price finding support Top Channel now or consolidation of between 0.889 to 0.892 seen Wednesday before the announcement of the FOMC should Canal Top is violated. therefore, the overall growth prospects remain intact, and short-term decreases should be shallow.

weekly Chart

the sharp rise in short-term response observed is perhaps a reflection of the long-term bullish decline. prices have managed to carve out a new 2013 low last week, but 0.89 support remain strong. with Stochastic oversold momentum that reflects a long-term decline to 0.93 or at least marking the descending trend line should not be excluded.

that said, long-term fundamentals remain bearish for the AUD / USD. Unlike her counterpart is close NZD / USD, AUD has no expectations for rate hikes buffer against the USD incoming force. Instead, the RBA Central Bank may need to cut even lower rates to keep the economy afloat, since the country will be a mild form of austerity in 2014 even as the stalls the mining sector. Simply put, economic growth in Australia not looking good, which in itself would already pulling Aussie lower without the threat of lower interest rates - a proven recipe that will drive the carry traders and hot money flow away Australia and AUD bring even lower. Therefore, overall long-term outlook remains bearish, and traders should not expect to change the current downturn feeling

Links :.
EUR / USD Technicals - Bearish Bias But Bullish Strong support expected
Gold Technicals - Bullish Pullback Seen But Bears Firmly In Play
NZD / USD Technical - bearish below 0.82 but do not expect Landslide

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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Read More : AUD/USD Technicals – Back Within 0.892 – 0.897 Consolidation

NZD/USD Technicals – Bearish Pullback Possible After CPI Rally

NZD/USD Technicals – Bearish Pullback Possible After CPI Rally

Kiwi dollar rebounded sharply after recent CPI figures were released, showing that the rate inflation in New Zealand has once again exceeded expectations, as the previous quarter. Q4 CPI gained 0.1% compared to the consensus estimate of 0.0%. However, Q4 inflation is the lowest we've seen in the last 4 quarters. Consequently, hedge paris central bank will be more likely to raise rates on January 30 may be a bit optimistic given that the CPI of the previous quarter was 0.9%. In addition, it should be noted that the estimate of analysts consensus was actually quite diverse and ranges from 0.3% all the way to 0.4%. Therefore, it is perhaps more accurate to say that the CPI is in analysts' expectations, and it is likely that the RBNZ will be more comfortable with CPI printing this quarter, although RBNZ never really said they were concerned about inflation to start (key question is actually the housing prices, not inflation broad base).

timetable

However, NZD / USD trading higher is a fact, and in this case it sets obviously the underlying bullish sentiment which allowed merchants to overreact to the CPI data. It is likely that a large risk appetite that sent all the major Asian stock indexes rising this morning, helped fueled the rally as well, allowing NZD / USD to move from 0.826 to a maximum of 0.834. At the moment the price is testing the 0.834 resistance again, but the stochastic indicator is not favorable with bullish scenarios that levels of overbought Stoch are deep and is less now link. Moreover, since the case for NZD / USD to rally to the CPI number is low, we should see a more significant bearish decline going forward.

That said, short at the moment can be risky as well because of broad positive risk appetite. Therefore, traders may want to wait for further confirmation eg break of 0.83 before determining that the previous bearish momentum that began Jan. 14 is back in the game.

Table daily

daily chart is more optimistic, however, that prices have managed to break back into the English Channel on the rise, increasing the likelihood 0.84 ceiling test price. Nevertheless curve Stochastic remains fully bearish, and considering that prices have failed to reach nearly 0815 before rebounding, the bearish rejection off Top channel and confluence with 0.84 resistance is not invalidated. Again, there was the priority, where prices began to push higher after marking 0.822 flexible support (seen on 25 September, 11 October, 31 October). As such, daily chart also says it will be risky to short NZD / USD and by conservative traders may want to wait for further confirmation as the channel bottom break for a greater possibility of strike prices 0.815.

Links:
AUD / USD - Trying to hold above 0.88
GBP / USD - 1.6450 resistance High Stands
EUR / USD - S 'settles around 1.3550

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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Read More : NZD/USD Technicals – Bearish Pullback Possible After CPI Rally

NZD/USD Technicals – Bearish Pullback Possible After CPI Rally

NZD/USD Technicals – Bearish Pullback Possible After CPI Rally

Kiwi dollar rebounded sharply after recent CPI figures were released, showing that the rate inflation in New Zealand has once again exceeded expectations, as the previous quarter. Q4 CPI gained 0.1% compared to the consensus estimate of 0.0%. However, Q4 inflation is the lowest we've seen in the last 4 quarters. Consequently, hedge paris central bank will be more likely to raise rates on January 30 may be a bit optimistic given that the CPI of the previous quarter was 0.9%. In addition, it should be noted that the estimate of analysts consensus was actually quite diverse and ranges from 0.3% all the way to 0.4%. Therefore, it is perhaps more accurate to say that the CPI is in analysts' expectations, and it is likely that the RBNZ will be more comfortable with CPI printing this quarter, although RBNZ never really said they were concerned about inflation to start (key question is actually the housing prices, not inflation broad base).

timetable

However, NZD / USD trading higher is a fact, and in this case it sets obviously the underlying bullish sentiment which allowed merchants to overreact to the CPI data. It is likely that a large risk appetite that sent all the major Asian stock indexes rising this morning, helped fueled the rally as well, allowing NZD / USD to move from 0.826 to a maximum of 0.834. At the moment the price is testing the 0.834 resistance again, but the stochastic indicator is not favorable with bullish scenarios that levels of overbought Stoch are deep and is less now link. Moreover, since the case for NZD / USD to rally to the CPI number is low, we should see a more significant bearish decline going forward.

That said, short at the moment can be risky as well because of broad positive risk appetite. Therefore, traders may want to wait for further confirmation eg break of 0.83 before determining that the previous bearish momentum that began Jan. 14 is back in the game.

Table daily

daily chart is more optimistic, however, that prices have managed to break back into the English Channel on the rise, increasing the likelihood 0.84 ceiling test price. Nevertheless curve Stochastic remains fully bearish, and considering that prices have failed to reach nearly 0815 before rebounding, the bearish rejection off Top channel and confluence with 0.84 resistance is not invalidated. Again, there was the priority, where prices began to push higher after marking 0.822 flexible support (seen on 25 September, 11 October, 31 October). As such, daily chart also says it will be risky to short NZD / USD and by conservative traders may want to wait for further confirmation as the channel bottom break for a greater possibility of strike prices 0.815.

Links:
AUD / USD - Trying to hold above 0.88
GBP / USD - 1.6450 resistance High Stands
EUR / USD - S 'settles around 1.3550

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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Read More : NZD/USD Technicals – Bearish Pullback Possible After CPI Rally

NZD/USD Technicals – Bearish Pullback Possible After CPI Rally

NZD/USD Technicals – Bearish Pullback Possible After CPI Rally

Kiwi dollar rebounded sharply after recent CPI figures were released, showing that the rate inflation in New Zealand has once again exceeded expectations, as the previous quarter. Q4 CPI gained 0.1% compared to the consensus estimate of 0.0%. However, Q4 inflation is the lowest we've seen in the last 4 quarters. Consequently, hedge paris central bank will be more likely to raise rates on January 30 may be a bit optimistic given that the CPI of the previous quarter was 0.9%. In addition, it should be noted that the estimate of analysts consensus was actually quite diverse and ranges from 0.3% all the way to 0.4%. Therefore, it is perhaps more accurate to say that the CPI is in analysts' expectations, and it is likely that the RBNZ will be more comfortable with CPI printing this quarter, although RBNZ never really said they were concerned about inflation to start (key question is actually the housing prices, not inflation broad base).

timetable

However, NZD / USD trading higher is a fact, and in this case it sets obviously the underlying bullish sentiment which allowed merchants to overreact to the CPI data. It is likely that a large risk appetite that sent all the major Asian stock indexes rising this morning, helped fueled the rally as well, allowing NZD / USD to move from 0.826 to a maximum of 0.834. At the moment the price is testing the 0.834 resistance again, but the stochastic indicator is not favorable with bullish scenarios that levels of overbought Stoch are deep and is less now link. Moreover, since the case for NZD / USD to rally to the CPI number is low, we should see a more significant bearish decline going forward.

That said, short at the moment can be risky as well because of broad positive risk appetite. Therefore, traders may want to wait for further confirmation eg break of 0.83 before determining that the previous bearish momentum that started on January 14, is back in the game.

Table daily

daily chart is more optimistic, however, that prices have managed to break back into the English Channel on the rise, increasing the likelihood 0.84 ceiling test price. Nevertheless curve Stochastic remains fully bearish, and considering that prices have failed to reach nearly 0815 before rebounding, the bearish rejection off Top channel and confluence with 0.84 resistance is not invalidated. Again, there was the priority, where prices began to push higher after marking 0.822 flexible support (seen on 25 September, 11 October, 31 October). As such, daily chart also says it will be risky to short NZD / USD and by conservative traders may want to wait for further confirmation as the channel bottom break for a greater possibility of strike prices 0.815.

Links:
AUD / USD - Trying to hold above 0.88
GBP / USD - 1.6450 resistance High Stands
EUR / USD - S 'settles around 1.3550

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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NZD/USD Technicals – Clambering Higher On Stronger Chinese Trade Data

NZD/USD Technicals – Clambering Higher On Stronger Chinese Trade Data

The Kiwi dollar has climbed higher following a stronger than expected Chinese trade balance which was published around 10:05 SGT (9.05 am EDT). Although China is the second on the list of New Zealand exports destinations, it remains extremely important because it contributes almost 19% of total exports. In addition, China is the first destination for Australian exports, which is also the largest trading partner of New Zealand. As such, an improvement in the Chinese economy will improve Australia and New Zealand directly and indirectly.

Time Table

The rally NZD / USD is also quite fast, as prices were paring gains made overnight during the US session as risk appetite was generally bullish after Yellen made her first daughter monetary policy address in the ability of the Fed Chairman. This early decline is not surprising that what Yellen said really does not inspire confidence in the US recovery, nor give hope as she opened her speech in the House saying that she is here to continue where Bernanke left (read: more candles come).

Therefore, although NZD / USD is not moving, the risk of a downturn was still there. In addition, there are additional technical downward pressure with Top Channel downward pressure and the opening of a movement toward the channel bottom, while the Stochastic indicator favors a bearish even with Stoch and lines signals of both lower score after being capped Channel Top.

Therefore, Chinese data helped negate downside pressure, but S / T downward pressure remains so. Stochastic readings has since moved up in the overbought region and is now giving us the first signs of a bearish signal, while the same Top Channel is still capping gains. As such, do not be surprised if bearishness yields and Bottom channel will remain a viable target if the flexible support 0.834 is broken.

Table Daily

daily chart is more optimistic if, as the movement continues 0.840. However, the ability to break 0.84 remains in doubt that the momentum is already overbought and the pace of upside gains is definitely slower than when prices were around 0815 - after invalidating fresh attempt bearish breakout. In addition, although NZD is expected to strengthen over the next 1-2 years on rate hikes from the RBNZ, USD is expected to strengthen as well, resulting in a sideways trend is most likely developed as opposed to a pure and single or downward trend. In addition, recent rallies seems to be aided by a surprising weakening of USD. With US stocks begin to return to the bullish channel, we saw foreign funds returning again in America and which will result in further strengthening USD above the natural appreciation due to QE tapering. As such, it will not be an easy journey for NZD / USD still climb above 0.84 unless something fundamentally changes once more (for example, the revision of the objective of increased RBNZ rate of 2.25%)

More links:
Gold Technicals - the uptrend Intact But Reasons for low Rallye
GBP / USD - Works for Trouble at 1 , 6450 resistance Level
AUD / USD - to remain well above 0.0 Key Level

This article is only for general information purposes . It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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NZD/USD – Bullish Breakout Above 0.8525 Post RBNZ Rate Hike Seen

NZD/USD – Bullish Breakout Above 0.8525 Post RBNZ Rate Hike Seen

RBNZ Central Bank delivered rising rates that all operators were looking bullish, increasing its cash rate Official by 25 basis points to 2.75%. This pushed NZD / USD above the resistance of the 0.85 round face and above the previous high seen on March 7, which shows a bullish breakout.

Time Table

this may seem silly because obviously NZD / USD rally will should RBNZ rate hike of interest, but it should be noted that the rate hike was widely expected and it is reasonable to think that traders may have a prize of such a scenario to advance. Looking at the recent history where the price of AUD and EUR are not really move when their respective central banks rate changes performed as expected, the fear NZD can rally more or perhaps even start to decline is not unfounded.

Fears that the bullish reaction will be muted became even more true when we realized that NZD / USD actually traded lower during European hours beginning and end of the US session when bears are be afraid to do anything with enormous event risk only a few hours a way. This suggests that the bears can still hiding around, even if the rate hike expectations are high. In fact, when the new RBNZ rising interest rates was announced, the price actually started to decline sharply, pushing below 0.845 immediately before boarding. Therefore, that is inevitable breakout is certainly incorrect.

That said, the bullish sentiment / momentum is certainly strong, and that the price has authorized the resistance 0.8525 4 hours after the rate hike announcement is a strong testimony of the current bullish momentum . However, bullish traders should be aware of bears lurking go ahead and significant pullbacks back towards 0.8525 or even 0.85 can not be ignored.

Table Daily

The same could be said for the daily action of the chart price. Although a clear break is happening at the moment, it is still considered risky for traders to go long now if they have not already. opportunities for input only appear after pullbacks took place, with the post-withdrawal reaction / useful degree of decline to determine whether the escape is indeed authentic and more importantly does it have other legs to run more.

Basically, for all the reasons (and we have good reasons) for NZD to get stronger, rallies in NZD / USD will continue to remain uncertain USD is not an easy breeze. Therefore, traders who want to participate in the increase of the story NZD rates will be much better served looking coins that go in the opposite direction instead

Links :.
GBP / USD - Little Movement Before we keys Press
USD / CAD - US Dollar in Holding Pattern As Markets Await Key figures
USD / JPY - Steady in cautious trade

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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AUD/USD – Rejected By 0.93 Resistance

AUD/USD – Rejected By 0.93 Resistance

price action in AUD / USD yesterday behaved as expected. Bears have pushed down prices, but consolidation floor between 26 - 27th March stood, with prices rebounding more then during the US session. What is remarkable is that AUD / USD managed to hold onto the gains made during the US session and has not suffered significant declines, suggesting that the general sentiment is bullish. This upward trend is confirmed when suddenly pushed prices higher at 20 pm EDT, even if there were no new listings. Prices edged suffer due to less impressive numbers of manufacturing the official China as PMI and HSBC version, but any downward pressure was quickly suppressed with prices remaining above the highs of yesterday.

Given this strong upward pressure, we should have expected a much stronger reaction increase when the RBA rate decision was announced. The central bank held rates as expected and reiterated their position to keep rates steady (read: no more rate cuts) as an accommodative monetary policy is necessary in order to maintain economic activity. These are not something special that RBA said essentially the same thing in the announcement of the previous policy. But given the strong upward pressure underlying spotted earlier, a break of 0.93 was expected and at least prices would have had to stay near the figure round strength even if we fail to break it.

Unfortunately, the price has nothing like this, but the spectacular collapse at 0.9255. This highlights the strong resistance of 0.93, and suggest that there is ample traders looking to short AUD / USD at reasonable prices. Since the fundamentals of the Australian economy is really not outright positive at the moment, coupled with the fact that USD is expected to strengthen significantly, it should also be noted that AUD / USD remains on the high side historically and as such it is not surprising to see many bears in wait in the hope of greater adjustment in AUD / USD RBA with or without help.

timetable

0.93 is going to be the waterloo for current bullish momentum? At the moment there is very little evidence to show that a bearish reversal is in. Since the hourly chart we can see the remaining broadly supported prices, and a retest of 0.93 is still possible. A break of 0.92 round number support is necessary to completely turn bullish bias current, but the stochastic indicator does not favor such a scenario as Stoch curve will probably oversold when the support is reached 0.92, which reduces the probability of a strong monitoring by the bearish bias.

Daily chart

daily chart agrees, with prices likely to find support from the top of the wedge that would allow bulls together a retest 0.93 again. stochastic indicator is in agreement that the curve is inverted Stoch from higher and seems likely to cross the signal line, suggesting that we will probably not see a down cycle signal for the immediate future.

However, the downward direction is always favored in the future, and as such, we can not rule out a return of the bearish momentum that has been in the game there is exactly 1 year more recently the downward thrust which began in October 2013. given the continuous strengthening USD narrative will require significant change in Australia's economy and optimism for a bullish move long supported in AUD / USD. As such, traders who always want to go long AUD may want to explore other AUD crosses the square

Links :.
Gold Technicals - Stay on the bearish road around 1270
GBP / USD - Pound remains firm after dovish Yellen Comments
USD / CAD - Loonie Flies Higher As Canadian rebounds GDP

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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Read More : AUD/USD – Rejected By 0.93 Resistance

AUD/USD – Eyes Still Firmly on Key Support Level at 0.76

AUD/USD – Eyes Still Firmly on Key Support Level at 0.76

AUD / USD - Thursday, July 2, 2015

In these days, the Australian dollar began to feel some selling pressure from the level of 0.77 his eyes are firmly focused on the long term support level at 0.76. To close last week the AUD / USD fell sharply lower below 0.77 but found strong support for long-term support level at 0.76. This level has provided strong support throughout most of this year and was called again last week again. Throughout last week the AUD / USD eased lower and was enjoying the 0.77 level key support before selling. A few weeks ago, he made a greater leap of below 0.77 until the last three weeks, but he ran right to resistance at 0.7850 key, which played this role several times this year. A few weeks ago, he also spent most of his time fairly stable operations around the 0.7750 level while enjoying a strong support 0.77.

During the last month, the 0.7850 resistance level has played a major role and continues to put selling pressure on the AUD / USD. During this same period, it received strong support from the rock the long term support level at 0.76 which allowed him to bounce back strongly to more than 0.78 to more than one occasion. Throughout the second half of May, the Australian dollar fell sharply four-month high above 0.8150 to the level of key support at 0.76. This level was a significant level for a couple of months and has supported the Australian dollar on multiple occasions. This recent price action has been a significant reversal, because there is not so long, the AUD / USD was in a solid medium term trend upward after crossing the 0.7850 key level and reaches four month high above 0.8150.

For most of this year, the Australian dollar has traded in a wide trading range between support at 0.76 and resistance around 0.7850. Earlier this year in February this range was narrower with the highest level of support 0.77. Throughout this period he has had reasonable swings back and forth between the two key levels with very few excursions beyond the levels. The key level remains now 0.76 and it will be interesting to see how the support at this level can contain and stop the trend of sharp decline in the AUD / USD has experienced in recent weeks. The 4 hour chart below shows how constant the recent decline was, but also how significant the level of 0.76 to be able to temporarily halt the decline.

(daily chart / 4 hourly chart below)

AUD / 2 USD 0:20 GMT July to 0.7641 H: 0, 7641 L: 0.7633

AUD / USD technical

S3	S2	S1	R1	R2	R3
0.70	-	-	0.7850	0.8150	-

During the first hours of the Asian session on Thursday, the dollar Australia is the return level easing to 0.76 0.77 after surging so far in the last day or two. Current range :. trading just below 0.7650

Other levels in both directions

• The following :. 0.70

• Above :. 0.7850 and 0.8150

Open Ratios position OANDA

(shows the ratio of long short positions vs held AUD / USD between all OANDA clients. the left percentage (blue) shows long positions, the percentage right (orange) shows short positions)

the long position report AUD / USD fell below 60% as the AUD / USD eased back towards the 0.76 level .. the trader sentiment is in favor of long positions.

Economic Releases

• 1:00 NZ ANZ commodity prices (June)
• 01: 30 AU Trade Balance (May)
• 8:30 UK CIPS / Markit construction PMI (June)
• 9:00 EU PPI (May)
• 24:30 US initial Claims (27.06.2015 )
• 12:30 nonfarm and private pay US (June)
• 12:30 US unemployment (June)
• 14: 00 US factory orders (May)
• Juncker and EU Moscovici of the EU to the European Parliament in Brussels

* All times are GMT release of

This article is for general information purposes only . It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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EURUSD – Inverse Head and Shoulders Neckline Broken

EURUSD – Inverse Head and Shoulders Neckline Broken

The potential inverse head and shoulders stressed yesterday (EURUSD - Inverse head and shoulders Almost 2015 Down) was completed this afternoon through the publication of a weaker retail sales report from the United States.

Coming in at 0.9%, below expectations of 1.1%, the retail sales figure has prompted widespread dollar weakness, helping EURUSD to break the neck before running into initial resistance around 1.6035.

in addition to a previous level of support and resistance, making it a logical level for the pair to make an initial pause, it is also compatible with the breaking of the head and shoulders reversed .

the size of the passage of the second shoulder to the neck projected above brings us almost the exact same level. This is generally considered conservative target when eruptions occur with inverted head and shoulders.

The more aggressive target tends to come from the distance between the head and the neckline is projected above the collar, which would be around 1.0675. This roughly coincides with Friday's high and thus allows another logical resistance level.

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GBPUSD – Breakout Near After Consolidation

GBPUSD – Breakout Near After Consolidation

June was a month of consolidation for cable so far. The pair found resistance from the top of the descending channel and simple moving average 89-period on the 4 hour chart, while a number of support levels combine to create a significant barrier to the downside.

These include the level 55 and 89 day SMA, 50 fib - low 13 April to 14 May high -. and the fact that it is a front area of ​​support and resistance

We can see a consolidation in the couple of days coming, but we are on track for an escape . From a technical perspective, a break higher seems more likely that the downstream channel effectively combines April 13 to May 14 rally to form a flag formation -. A bullish continuation pattern

A break of this could bring the 233-DMA at stake, currently around 1.57, which proves to be too strong resistance level in May.

a break below 1.5170 on the other hand could prompt a rather aggressive move lower because of the number of support levels are taken in the process.

It could also be considered as breaking the neckline of the head and shoulders, formed since April 24, which would be very bearish. Based on the size of the training (neck head), this could cause a movement back towards 1.45, while the previous low around 1.4566 could prove to be an important support level.

* The tools above and many others can be found in OANDA Forex Labs.

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EURUSD – Bullish Rebound Off Big Fib Level

EURUSD – Bullish Rebound Off Big Fib Level

A strong session for the euro against the dollar yesterday after a four-day losing streak led to the completion of the formation of morning star, a bullish configuration which followed a bullish divergence on the 4 hour chart (EURUSD - Between correcting as broken resistance)

movement was compared today have run into resistance around. 1.0965 - a previous support and 38.2% retracement of the move from 10 July 20 July highs down. While this could mark the end of the correction, with 1.0965 being key resistance level, there is reason to believe that this is only temporary and peeling more upside to come.

The first thing is that the price action has found support at 1.0880, the midpoint of the candle yesterday. He made the trade briefly below here, but recovered relatively quickly. Given the strong buying yesterday, this is still a bullish signal as long as it stays above by the end of the day

The other key element is very bullish rebound off of 1.0870 -. A recent level of resistance and the 61.8% retracement of the move from lower this week to highs. Not only did the pair recover all the losses it had suffered, he finished strongly time and created a very bullish candle on the chart 1 hour.

The chart also 4- hour seems pretty optimistic and become more and more if the current candle closes more than two thirds of the way into the candle before the last. This will form a morning star of a key support level, a very bullish configuration.

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EURUSD – Key Support Put to the Test

EURUSD – Key Support Put to the Test

The euro was paring gains against the dollar recently and is currently underway to extend its losing streak to four days

However, there are reasons to believe that recent selling pressure may facilitate the opening of a further evolution towards the summits in may and June.

First, the pair break above the downward trend line - 1 July peaks -. Wednesday indicating a more optimistic sentiment in the pair

the recent decline saw price action retest the trend line and then he temporarily violation, it is trading above there. If we see a daily close above here, it could be considered a confirmation of the break, a bullish signal.

The most recent support around 1.1020 to 1.1030, coincides with the 50% retracement of the move down from 5 August to 12 senior August and the 233-period moving average easy on the 4 hour chart, which was significant support and resistance level, and the sentiment indicator in the past.

all this suggests that we may see a reversal of that level, but we are yet to see any confirmation of this at this stage. We even saw any signs of trend exhaustion, which can instead simply indicate a consolidation phase and continuation of the move lower.

The last full 4 hour candle is certainly bearish, being an almost perfect marabuzo. In addition, the current candle has so far failed to break above the line marabuzo, which is considered another bearish signal.

With all this in mind, as the current level is technically score a logical inversion point for the pair, there is still nothing to suggest this is the case. In addition, a break below would indicate a strong bearish bias as the pair closes in 1.10.

A good candle reversal pattern on the 4 hour chart, as a pattern formation of bullish engulfing or star morning, suggesting the downward trend has been exhausted.

Although OANDA customer data suggests the net short position is reduced, which could be regarded as a bullish indicator, a comparison of data historic against the price below would actually indicate the opposite and support to new lows. The tools above and others can be found in OANDA Forex Labs.

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AUDUSD – Have We Seen the Bottom?

AUDUSD – Have We Seen the Bottom?

There is clearly some indecision in AUDUSD now, with speculation that the Reserve Bank of Australia could reduce the interest rate that the addition of? uncertainty that already exists, through a Federal Reserve hesitant.

from a technical perspective, the pair looks like it could be on the verge of a major break over the long channel resistance long term. The recent correction after a decent rally in early October does not currently appear to be something more than that. What we have is something that looks like a flag or the corner of a fall, a bullish continuation pattern.

Moreover, 0.72 appears to be well supported for now. The pair has been trading briefly below here sometimes, but every time the passage below was purchased in which established a pretty solid base between 0.7180 and 0.72.

with rate decisions to come from the federal and RBA reserves in the next eight days, the pair is likely to emerge from this period of consolidation rather early, at the least we should get a little more clarity on the outlook for monetary policy.

If we see a break in the downward trend line - September 5, 2014 summits - and 100-day simple moving average, it would be very optimistic and suggest the long period of decline has ended, at least for some time.

next significant resistance area around 0.7530 could come at 0.76, where the 233 days SMA crosses an area before support and resistance.

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YEN and Nikkei, Slip Sliding Away

YEN and Nikkei, Slip Sliding Away

USDJPY, Yen crosses and NIKKEI under relentless pressure today as quadrature position and possible disappointments are their toll.

The hype on Japan stimulus seems to fade quickly into the meeting of the BoJ on Friday. Various officials were on the son that morning and night and the general tone seems to be one of less is more, rather than a big bang.

This continued to weigh on USD / JPY and JPY / Crosses in the Asian session. Following my thoughts Friday USD / JPY fell out of bed this morning as pre-liquidity central bank meeting deteriorates. USD / JPY broke the bottom of New York at 105.75 and fell 100 pips in rapid succession, to 104.75, triggering stop losses and more pain in the Yen crosses.

The title below seems to have been the nail in the coffin of a nervous market,

10:30 (JP) Japan PM Abe: To maintain FY20 budget target - Govt sees FY20 nominal GDP to ¥ 583T assuming economic growth- will not reach the target nominal GDP of ¥ 0T in FY24 if economic growth maintains the current pace. - Source TradeTheNews.com

in 2020 central fiscal objective of the government is to achieve a budget surplus in the large abenomics plan. The precarious state of public finances erodes their ability to go out with a stimulus package "king hit". With the FOMC is unlikely to come to the rescue with a rate hike, the cold realization we can be seen in disappointment short positioning removed JPY board before the Bank of Japan meeting.

The Nikkei also suffers down 1.44% as we speak.

USD / JPY

104.45 daily support broken I write with nothing to 103.17, double the previous peak and Ichimoko conversion line. way above resistance now around 105.75, the low of New York.

Yen

GBP / JPY

Leading the way up to 0 points on the session. GBP / JPY is already faltering overnight after a Guardian newspaper story, warning of a major bank high street was preparing to introduce negative interest rates on the company's accounts.

Guardian article

GBP / JPY daily support at 137.30 is broken, and a daily close below 133.60 opens here on the cards. 139.00 daily resistance seems very far away now.

EUR / JPY

did not pass go at all during the night. Closure on the bottom of New York around 116.25 and going straight down in Asia as a mild EUR weighs in combination. Daily support is at 113.60.

AUD / JPY

Remains "in the clouds" so to speak. in this case, the cloud daily Ichi moko. Resistance comes around trendline at 79.00 then 79.40.
Support 78.14, down from the cloud, then 77.40.

XAUJPY

another double whammy with fresh XAUUSD USD overall strength continues. from the peaks of 141750 it a week ago negotiates us to 137,650 currently. the moving average of 100 days is below 137,150 with the top of the daily cloud at 135750.

NIKKEI

Finally turn the Nikkei. More titles adding to the general negative sentiment leaves the Nikkei hovering daily support having fallen in Ichi moko cloud and broke the moving average 100 days 16470 already this session.

12:21 (JP) Japan Fin Min Aso: Govt yet to decide on the size of stimulus spending; Still considering appropriate amount - financial press - Source TradeTheNews.com

The support here is at 16385, down previous daily and 16175 cloud base. The DMA 100 to 16470, 16560 to the top of clouds and former triple bottom around 0 leave much wood to cut topside.

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AUD/USD – Aussie Shrugs Off Weak Employment Change

AUD/USD – Aussie Shrugs Off Weak Employment Change

AUD / USD shows little activity Thursday, continuing the trend that we have seen all week. In the European session on Thursday, the pair is trading in the mid-range of 94. In economic news, the Australian Employment Change rebounded strongly. but was still well below estimates. In the US, major release today is the Unemployment Claims. In other news, Janet Yellen has been nominated by President Obama to head the Federal Reserve. In addition, the minutes of the FOMC meeting indicated that most policy makers favor tapering QE before the end of the year.

Change in Australian Employment, an unlock key, rebounded from two consecutive declines. The indicator posted a gain of 9100, but it was much of the estimated 15,0. The unemployment rate fell from 5.8% to 5.6%, surprising markets which had expected the rate remains unchanged in September. However, lower rates can be attributed to a decrease in the participation rate, which fell to 64.9%, a 7-year low. The Aussie initially lost ground after the employment release, but has since recovered.

President Obama appointed Susan Yellen to head the Federal Reserve. Yellen take over from Bernard Bernanke, who is due to retire next year. Yellen, who is currently vice president of the Fed, became the main candidate after former Treasury Secretary Lawrence Summers withdrew his candidacy. Yellen is considered favorable to the status quo in position and supported Bernanke in three rounds of QE increases. His appointment must be confirmed by the Senate, but it should be widely approved for the new position.

The minutes of the policy meeting in September Federal Reserve were released Wednesday. At the meeting, the Fed surprised markets by opting to stay on course with its bond purchase program, which is taking place at 85 billion $ / month. The minutes said that the decision not to start narrowing was a "close call". This has increased speculation that we could see narrowing before the end of the year. However, the monkey wrench in all this is the financial uncertainty of the judgment and the threat of the debt crisis. In addition, the Fed relies heavily on key releases such as non-farm payrolls, which were hanging off. It is unlikely that we will see any attempt to reduce QE before December at the earliest.

As if Congress does not have its plate full with the budget deficit and to stop a debt ceiling crisis and could trigger a devastating financial crisis. The US has a debt of $ 16700000000000, and the country will run out of funds to pay off debt on October 17 unless Congress authorizes the raising of the debt ceiling. Otherwise, the US could potentially default on its obligations, which could cause chaos in national and international markets. There are a lot of bad blood between Republicans and Democrats on the closure, and this will undoubtedly complicate negotiations on the debt ceiling. There are signs of some progress, the talks between the parties on the possibility of a short-term increase in the debt limit, avoiding a default for now.

AUD / USD for Thursday, October 10, 2013

AUD / 10 USD October at 12:15 GMT

AUD / USD 0.9434 H: L 0.9472: 0.930

AUD / USD technical

S3	S2	S1	R1	R2	R3
0.9221	0.9328	0.9400	0.9508	0.9613	0.9700

• AUD / USD continues to trade quietly in the middle range of 94 to Thursday trading.
• the pair faces resistance at 0.9508. This is followed by a 0.9613 resistance line.
• On the downside, the pair continues to receive support at the round number of 0.9400. This is a small line that could face strong pressure if the Australian dollar weakens. The next support line is at 0.9328
• Current range :. 0.9400 to 0.9508

Other levels in both directions

• Below: 0.9400 , 0.9328, 0.9221, 0.9135 and 0.089
• above: 0.9508, 0.9613, 0.9700 and 0.9821

Open Ratio positions OANDA

AUD / USD is showing movement towards short positions Thursday trading. This is reflected in the current movement of the pair, as the Australian dollar fell slightly versus the US currency. The majority of open positions were long, reflecting a bias towards dollar trader wins the Australian terrain.

The pair continues to trade quietly Thursday trading. The Australian dollar did not react to weak Australian employment data, but this may change in the session in North America when the US releases of unemployment claims, a key event.

AUD / USD Fundamentals

• 0:00 the Australian MI Inflation Expectations. Actual 2.0%.
• 0:30 Australian Employment Change. 9.1K estimate. Actual 15.2K.
• 0:30 Australian Unemployment Rate. 5.8% estimate. Actual 5.6%.
• 12:00 US Secretary of the Treasury Jack Lew Speaks. Lew will testify on the debt limit before the Senate Finance Committee.
• 24:30 US unemployment claims. 307K estimate.
• 1:45 p.m. US FOMC Member Bullard Speaks James.
• 2:30 p.m. US natural gas storage. 96B estimate.
• 5:01 p.m. US Bond Auction 30.
• 4:45 p.m. US FOMC Member Daniel Tarullo Speaks.

* the major releases are highlighted in bold

* All GMT release time

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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NZD/USD Technicals – Continuing Lower With 0.824 Support Threatened

NZD/USD Technicals – Continuing Lower With 0.824 Support Threatened

Dollar Kiwi traded sharply lower today again, extending losses yesterday. The instigator seems to be weaker than expected trade balance (August), which came to a deficit NZD 1.1 billion vs. an expected 722 million gap. This 469 million missed is certainly a strong bearish number, since there were only 4 other month since January 07 when the wait was more than in the Miss August However, it should be noted that this is actually an improvement (in terms of expectations) prodigious 756m Miss July, which ranks number one in terms of lack since 07 elsewhere. In addition, the market has overestimated the Trade Balance figures for the modest sum of 56% of the time since 07, suggesting that the market should be used to seeing in expectation, and therefore reduce the downward impact this time. Perhaps the best evidence against a strong bearish sentiment resulting from this last impression can be seen from the price action when the latest happened. Interestingly, NZD / USD actually traded HIGHER by the end of the day after a weaker trade balance print in recent history (in terms of absolute deficit gap and the failed standby), suggesting there must be something more that is actually driving NZD / USD down today.

looking at the share price yesterday, it feels as if it's technicals that is driving prices now. After confirming the rupture of 0834, the additional downward pressure drove prices down beyond the bottom 0.8315 swing low in Asian trading, resulting in a still bearish acceleration that managed to violate at 0.83 the US session. It is likely that technical bear essentially took advantage of the negative trade balance to send the price to 0.824 to 0.825 resistance turned support. That decline stalled today around the next area of ​​immediate support is a good sign that he is in effect claiming technicals shots now.

Time Table

in mind, we can continue to expect short-term additional technical interference. Prices should bounce higher, but any corrective rally from here will likely be approved by the top of the wedge narrowing and the confluence with the soft support of 0.8265 to 0.827. If 0.824- 0.825 is broken, prices may very likely find support at the lower end of the consolidation was found Sept. 18 echoes stochastic indicator which is close to the oversold region and will most likely be in the oversold zone should strike prices near 0.82.

Weekly Chart

the case for a bearish downturn is also strong in the weekly chart. Stochastic is overbought readings with the tapered curve Stoch lower, while the current decline affirms the 0.85 ceiling and open the Top Channel below a reasonable withdrawal target price should close around where we are this week.

Basically Kiwi dollar should appreciate because of the intention of RBNZ to raise rates in 2014. However, we find it difficult to see the clean upward direction in NZD / USD USD also has one the most optimistic cycles since the beginning of the financial crisis. As such, we continue to see technicals tell the difference as traders think about which driver is most important in the long term. The consequence of this is that prices can only remain in the 0.81 / 0.85 Top Channel, similar to what we have seen between June and August 2013.

Links:
GBP / USD - continues to count on the support at 1.60
AUD / USD - Drifts in One week Low below 0.94
EUR / USD - continues Drift slowly lower below 1.35

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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Read More : NZD/USD Technicals – Continuing Lower With 0.824 Support Threatened

OANDA MP – Will the Oil Rebound Last? (Video)

OANDA MP – Will the Oil Rebound Last? (Video)

Senior analyst Craig Erlam market gives his analysis on the WTI Crude, S & P 500, USDCAD, natural gas, copper and EURGBP.

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USD/INR Technicals – Bullish Breakout on Short and Long Term Charts

USD/INR Technicals – Bullish Breakout on Short and Long Term Charts

Time Table

USD / INR marked the level of 62.4 yesterday as expected, but the subsequent downward thrust was much lower than expected. the flexible support of 62.2 held firm, with prices rebounding higher and then break the resistance of the Top channel (see weekly chart below), suggesting that a breakout is at stake now.

Looking back, there are signs of a strong upward surge in manufacturing - initial bearish reaction after the rising trend line was identified was mostly muted which avoided a signal Down cycle of the stochastic indicator. The bear market signal will then appear, but now the momentum has shifted in favor of the bulls, with Stoch readings making a top score turn. The fact that the curve Stoch pushed above the 60.0 level (where previous Stoch peaks were seen) is a good sign that the belief is strong. This increases the likelihood of an upward thrust supported above the rising trend line from the S / T and, with an estimated 62.6 upside target based on the space given before Stoch curve between the regions overbought.

Weekly Chart

long-term perspective, the prospect of a breakdown of the Top channel is a welcome return the long-term trend. Stochastic indicator is also in favor of a bullish cycle movement with stoch curve finally distance themselves away from the signal line and affirming the Stoch hollow that was formed two weeks ago. In addition, the fundamentals continue to favor a USD / INR bullish. For all the doubts about the political kerfuffle surrounding the issue of the debt ceiling and the downward impact of potential narrowing QE, the US economy is undoubtedly in a much healthier state than India. At the very least, it moves in the direction of recovery. A narrowing potential scenario QE USD strengthen as well, favoring an upward thrust in USD / INR.

Therefore, short-term technicals with high score and get online with technicals bullish long-term coupled with the bullish fundamentals, potentially pushing all the way to 70.0 is in the cards . Warning for acceleration toward the head when the break is confirmed on both short and long term charts

Links:

AUD / USD - bearish. Floodgates waiting to open after the employment numbers Dismal
EUR / USD - Get above the key 1.35 Level
GBP / USD - Consolidates around 1.61

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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Read More : USD/INR Technicals – Bullish Breakout on Short and Long Term Charts