GBPUSD – Cable Seeking Bullish Confirmation

GBPUSD – Cable Seeking Bullish Confirmation

cable is looking much more optimistic since the break if the 233 days simple moving average in the last few weeks and now he faces a key test of its uptrend, with the new test of this key ADM.

When a medium or major resistance level is broken, a key test of the quality of the break may be how it is at the retest. If it is satisfied, then the role of this level has been changed, in which case it would be from a level of resistance to a support. This acts as a confirmation of the break and in this case gives the impression that confidence in the pair is much more optimistic.

So far, the level survived the first round, but that does not mean he will not face another. The 4 hour chart is showing no signs that the move lower is easing. Neither the MACD or Stochastic is showing a loss of momentum at this stage, although the stochastic is crossing potentially oversold territory which is a slightly bullish signal.

I want to see it followed by a movement above the oversold territory and combined with a reversal pattern in price action before becoming again short-term bullish. Further confirmation would then come from a break above the descending trendline resistance around 1.5750.

If we see a daily close below the 233-DMA, it would not necessarily confirm that the uptrend in the cable is finished, by any stretch of imagination. There is still significant support just below 1.5550 around here -. Historically a key support level and resistance and 50% retracement of the move from lower to higher June

Until this is broken, the pair remains in a clear trend medium-term bullish flag formation and remains valid, which is a bullish continuation pattern.

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GBPUSD – Possible Morning Star on Key Support

GBPUSD – Possible Morning Star on Key Support

The cable is potentially very bullish to search again after the consolidation last week. The pair found support around 1.5530 from the average of 55 days and 233 single, moving and level of 38.2 fib - down 8 July to 15 July peaks - and now seems to grow again

If the candle today close above 1.5589 or around this level, it would create a star formation in the morning - very optimistic configuration - a key support level. Of course, it should be noted that these formations are always stronger when the first and the last candles are larger.

While moving averages have been no major levels of support and resistance recently, they generally tend to be less effective during periods of consolidation, we've seen lately.

That said, the 55 day SMA has now crossed the 233 days SMA which is a bullish signal and could trigger the next higher step. . In addition, in recent sessions, both offered strong support for the pair

If the pair fails to hold above this support, additional support is below about 1 , 55 -. The 50% retracement of the move above

A signal that this support may give way could come from the failure and the morning star form on the daily while shaped evening star on the 4-hour. And another more convincing than the first and last candle being larger.

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EURUSD – Bullish Breakout on Fed Rate Hike Doubts

EURUSD – Bullish Breakout on Fed Rate Hike Doubts

The euro is very bullish on research in the short term against the dollar after clearing 1.11, level resistance during the last month and the downward trend line dating back to July 1 of last year.

The move came after the People's Bank of China's decision to devalue the yuan, currently down nearly 3% against the dollar in two days which could apply other deflationary pressures in the United States. This could encourage the Fed to hold off on raising interest rates this year, which is bearish for the dollar.

At present, there is nothing to suggest that this is anything more than a relief rally, especially as the Fed is still likely to raise rates soon just maybe not as soon as was a price.

key test of this rally is going to come between 1.1392 and 1.1534, where the pair faces a number of previous support and resistance. It could also deal with the resistance of the descending trend line dating back to May 8 last year, which cuts the region above.

Failure to break above this level may suggest that the pair has found a new trading range that negotiated between 1.08 and 1.11 for most the last month.

As you can see below, the net positions OANDA clients were on the wrong side of the market quite consistent over the last month. During the rally last week, net shorts were growing. Given that net shorts seem to continue to grow, this itself could be considered a bullish indicator.

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

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EURUSD – Support Found But Further Downside Seen

EURUSD – Support Found But Further Downside Seen

The euro continued to slide against the dollar today, after some heavy sales on Thursday on the back of some comments very pacifists European level President Mario Draghi Central Bank.

After crossing the low September yesterday, the pair looks likely to see further losses in the coming weeks. Now is to find support at 1.1015, which coincides with the lowest fixed August 18

While this may lead to more consolidation or even a short-term retracement, I think this may prove to be a level of temporary support, with the level of next key support may come in around 1.09

a rising trend line -. 13 March low - could provide support at this level but it should be noted that with only two keys at this point, this is currently a speculative trend line. If the pair will find support here, it would be the third contact and thus confirm as a legitimate trend line.

Below, here the pair could run into additional support just above 1.08, which marks the lowest for the pair for the last six months.

If we see a retracement of the pair of current support, it will be interesting to see how the pair reacts around 1.11, the low of September highlighted below -above. A move above this would bring the key fib levels considered being 38.2% - from 1.12 to 50% - 1.1250 - 61.8% and -. 1.1310

It is interesting to see the backlog OANDA that 1.10 is clearly a great level of interest. There is a lot of waiting orders and sales here. It does not necessarily provides polarization information at this time that the two are roughly equal, but it would suggest that there will be much activity.

To find more tools like this, visit OANDA Forex Labs.

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OANDA MP – Yen Soars on Safe Haven Move (Video)

OANDA MP – Yen Soars on Safe Haven Move (Video)

Senior Market Analyst Craig Erlam gives his analysis on gold, silver, WTI Crude, USDJPY, GBPJPY, EURJPY and S & P 500.

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EURUSD – Will New Low Trigger Broader Decline?

EURUSD – Will New Low Trigger Broader Decline?

The euro has taken a turn lower against the dollar at the end of European session, falling to its lowest level since June 24 ,? when it tanked on the news that the UK has voted to leave the EU

the pair had established a relatively tight trading range during the four weeks following the result - between 1.10 and 1.10 - and it seems that the constant pressure on the range of support in recent days proved too much for the bulls

Source -. OANDA fxTrade Platform

A break of this support level could trigger another push now. lower, with the next test coming around 1.0910, the low of June 24

OANDA MP - weak PMIs Hit Sterling (Video)

Although this can provide some support, the break of 1.10 could indicate a larger downward move was triggered, with 1.08 to 1.0820 as the next major support area for the pair.

for the moment, the pair found temporary support around 1.0970, the low of June 27, but I think this could prove temporary, with the break of 1.10 potentially adding to the bearish sentiment. One day - and therefore weekly -. Close below 1.10 could still add to this

Despite reduced their short exposure, OANDA customers remain net short on this pair as it has reached a new low for four weeks

There also appears to be a number of long and short open orders around 1.0950 which could suggest that this will be an interesting level.

to get access to historical positions and backlog of tools above, visit OANDA Forex Labs.

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USD/JPY – Yellen Nomination Boosts US Dollar

USD/JPY – Yellen Nomination Boosts US Dollar

The US dollar continues to push higher against the yen on Thursday. The pair is trading near the 98 line in the European session. The dollar received a boost as 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. In economic events, Japan posted strong manufacturing data, but that was not enough to stem the movement of the dollar up. In the US, today's highlight is the Unemployment Claims.

The solid Wednesday night watched Japanese numbers. Order core machinery rose 5.4% in September, compared to a 0.0% flat last month. It easily beat the estimate of 2.9% and raised thee months. This is an encouraging release of the manufacturing sector, especially after the preliminary machine tool orders fell -6.3% earlier in the week. There was more good news than Tertiary industry activity rose 0.7%, improving the previous reading of -0.4%. The estimate was 0.5%.

The dollar was broadly higher in Wednesday trading as 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 broadly supported.

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.

USD / JPY for Thursday, October 10, 2013

USD / JPY October 10 at 10:55 GMT

USD / JPY 97.86 H: 97.89 L: 97.47

USD / JPY technical

S3	S2	S1	R1	R2	R3
95.06	96.00	97.18	97.87	98.43	99.45

• USD / JPY continues to move higher in trading Thursday. The pair touched a high of 97.89 in European session, the yen remains under pressure.
• The pair is testing the resistance at 97.87. Does this line stand firm? This is followed by the resistance 98.43.
• On the downside support, USD / JPY receives 97.18. This is followed by support at 96.00
• Current range :. 97.18 to 98.43

Other levels in both directions

• Below: 97.18, 96.00 , 95.06, 94.20 and 93.34
• above: 97.87, 98.43, 99.45 and 100

Open Ratio OANDA positions of

USD / JPY advanced ratio in a movement towards long positions Thursday trading. This is reflected in the current movement of the pair, while the dollar continues to move higher against the yen. The report is dominated by long positions indicative of a bias to trade strong upward trend towards the pair continues.

USD / JPY is trading near the level 98. With the US disseminate key employment data later in the day, we could see some volatility to the pair in the session in America North.

USD / JPY Fundamentals

• 3:45 Japanese Bond 30. Actual 1.63%.
• 5:00 confidence of Japanese consumers. 43.8points estimate. Actual 45.4 points.
• 12:00 US Secretary of the Treasury Jack Lew Speaks. Lew will testify on the debt limit before the Senate finance committee .
• 12:30 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 times are GMT release of

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