Technical Analysis

Japanese yen tumbled against most currencies including the Euro and the US dollar, and it looks like it might continue to head lower in the near term.

Aussie dollar was one of the best performing currencies as it traded higher against most major currencies, and looks set for more gains in the short term.

US dollar dived sharply against the Swiss franc and other major currencies, as sellers managed to gain strength exposing a major break in the USDCHF pair in the near term.

Japanese yen once again failed to hold the ground and lost all the gains against currencies like the US Dollar and the Euro, which exposes it for more declines in the near future.

New Zealand dollar traded lower this past week after solid gains against the US dollar, but found support around and important area which means there is a chance of recovery in the near term.

US dollar traded sharply lower recently against a basket of currencies as the recent economic releases in the US missed the mark and ignited a correction phase in the US dollar in the short term.

US dollar traded lower recently against many major currencies including the Euro and the British Pound, but now it looks like it has regained the bullish bias and might trade back higher in the near term.

US dollar index traded mixed against a basket of currencies with spikes higher and lower, but it remains at risk of a major reversal as the US dollar index is testing an important resistance in the short term.

Japanese yen traded lower against a basket of currencies including the US dollar, as the yen buyers failed to gain momentum which resulted in a move lower.

US dollar fell sharply against the Canadian dollar and tested the 1.2100 support area and currently making an attempt to correct higher in the near term, but might find resistance on the way up.

Japanese yen was seen trading in a broad range against the US dollar, but there was a slight bullish tone witnessed which might continue in the near term if buyers remain active moving ahead.

Aussie dollar was one of the best performers lately and the recent employment report released might encourage buyers in the short term and could take AUDUSD higher towards 0.7800.

US dollar reacted to the downside recently against most major currencies, as the dollar sellers managed to gain strength which resulted in a move lower in the near term.

Japanese yen gained sharply against the US dollar after comments made by the Japan PM Adviser Hamada suggested that the yen is a bit weaker around the 120 level igniting a down-move in USDJPY.

US dollar regained bids against almost all major currencies, as there was an increase in buying interest developed for the greenback which took it higher this past week.

Japanese yen traded in mixed fashion, as it was seen trading higher against the Euro but at the same time it was seen trading lower against the US dollar.

British pound remained of the better performers against the US dollar, as buyers sentiment was seen improving which helped GBPUSD to gain ground better compared to other major pairs.

US dollar traded higher recently against most major currencies, but failed to sustain the momentum and fell back one more time as seller’s sentiment was boosted.

Euro surged higher against the US dollar and the Japanese yen, as the shared currency gained a lot of bids recently and there is a chance of it acquiring more ground in the near term.

US dollar was seen trading lower this past week on Friday against most major currencies after the nonfarm payrolls report release which highlighted weakness this time and registered reading below 200K.

Japanese yen traded higher initially this week against the US dollar, but it fell back to trade lower as the US dollar buyers managed to gain back traction in the near term.

SILVER after testing the $17.40 level moved lower, but it looks like it managed to gain buyers around an important support area and might continue to move higher in the near term.

British pound traded lower earlier this week against the US dollar, but now it looks like the GBPUSD pair might correct higher in the short term as there was a strong reaction noted around the 1.4750 level.

Australian dollar was one of the worst performers against the US dollar, as the AUDUSD pair breached the 0.7700 support area to trade lower and challenge the lows one more time in the short term.

US dollar traded higher this past week against most major currencies, but we cannot count out the fact that it might recapture bullish bias any time, and this can be considered as a correction phase only.

Japanese yen continued to struggle against the US dollar, as it managed to gain ground recently, but later trimmed most of its gains to trade in the negative zone one more time.

Aussie dollar was seen performing well against the US dollar until the AUDUSD pair found resistance around the 0.7940 level where sellers managed to defend the upside in the pair.

British pound continued to find sellers when it tries to trade higher, but there is a chance that it might gain strength against the US dollar in the near term.

US dollar continues to trade heavy against most major currencies, and it is likely to consolidate or lose more ground in the coming sessions as sellers seem to be in the action.

US dollar traded lower this past week against most major currencies, and it looks it might either consolidate or move a bit lower during the upcoming week in which there are some key releases.

US dollar traded lower after the Fed interest rate decision, and the Swiss franc seems to be a gainer.

US dollar continued to correct lower against the Euro and awaits the all-important fed rate decision.

US dollar traded a touch lower against most major currencies raising the hope for a correction in the EURUSD pair, which has a potential for a larger move back up if the US dollar buyers step back.

US dollar stayed on the top this past week, but there is a hope emerging in pairs such as NZDUSD, which has the potential to correct higher moving ahead if buyers manage to clear an important resistance.

US dollar after trading near the 122.00 level failed to continue to trade higher and corrected lower.

US dollar rocketed higher against all major currencies, as pairs such as EURUSD and GBPUSD collapsed.

US dollar continued to surge higher against the Swiss franc, and it might continue to do so.

Euro’s break of 1.10 was very critical and ignited sharp downside reaction in the near term, which poses risk of more losses moving ahead.

New Zealand dollar and the Canadian dollar might continue to struggle against the US dollar, as sellers could gain strength in the near term.

Euro spike against the US dollar and the Japanese yen was short-lived, as the Euro sellers managed to contain upsides in the near term in EURUSD and EURJPY.

US dollar rocketed higher against almost all major currencies, and Euro remained one of the worst performers as it broke the 1.1100 support area to create a new low.

US dollar accelerated higher against the Euro and the British pound, but stays below critical resistance area and it would be interesting to see how it trades moving ahead.

Euro traded higher recently against the US dollar, but the question remains whether it can continue trading higher in the near term.

NZDUSD and USDCAD pairs looks like struggling around important resistance area, which might ignite losses in both the pairs.

Japanese yen continued to struggle against the US dollar, as every time yen buyers step in they lose control and the USDJPY pair trades back higher.

Aussie dollar continued to trade higher against the US dollar, but we need to see whether it can continue to trade higher in the near term or not.

Japanese yen weakness against the US dollar is likely to stay in the near term.

New Zealand dollar managed to hold ground against the US dollar, but the Aussie dollar suffered losses which in turn helped the AUDNZD pair to trade higher.

US dollar struggled a bit during this past week against a few major currencies like the Euro and the British pound, and it looks like the US dollar is set for more losses in the near term.

US dollar and the Euro seem like following same trading pattern against the Japanese yen, and looks like set for more gains in the near term.

Downtrend in the AUDUSD pair might not have finished as there is a major resistance on the way up for the pair which is likely to act as a pivot area.

US dollar gained against the Swiss franc recently, but every time it acquired strength sellers appear to protect the upside in the USDCHF pair.

Euro and the British pound were mostly seen trading in a range, as the Forex market remained quiet during the past couple of sessions.

US dollar moved a bit lower this past week and it looks like there is a possibility of more losses in the near to medium term.

US dollar corrected lower against the Japanese yen and looks set for more loses in the near term as sellers trying to take the USDJPY pair lower.

Australian dollar traded lower recently against the US dollar and failed to hold gains above the 0.7750 resistance area.

US dollar struggling around an important resistance area against the Swiss franc and seems to be consolidating in a small range.

British pound held an important support area against the US dollar, but looks like searching for a reason to move higher in the near term.

US dollar surged higher recently and traded higher against most major currencies.

US dollar continues to consolidate against the Japanese yen and waiting for a catalyst for a break in the near term.

US dollar managed to trim most of the recent losses against the Euro and traded a touch higher.

In the UK, British Retail Consortium (BRC) Shop Price Index released posted a reading of -1.3% in January 2015, compared to the preceding month reading of -1.7%.

British pound continued to trade in an awkward pattern as buyers fail to gain strength.

NZDUSD might continue to trade lower as sellers seem to be in control in the near term.

Fight between the US dollar and the Japanese yen buyers is getting interesting and might cause moves in the near term.

Fed and the Reserve bank of New Zealand interest rate decisions were the main highlights of the past two sessions.

US dollar traded higher recently against the Swiss franc, but failed around an important resistance area suggesting a short-term top in the USDCHF pair.

Japanese yen continued to move lower and declined against the US dollar and British pound.

Japanese Merchandise Trade Balance Total released by the Ministry of Finance came in at ¥-660.7B, compared with the forecast of ¥-740.3B.

Euro dived against the US dollar after the market settled and traded back towards the last low.

GOLD traded higher recently, as buyers managed to overcome selling pressure and took the prices higher in the near term.

The British pound traded lower against the US dollar as the recent releases in the UK failed to impress buyers.

Euro might be trading in a range, but it is likely to trade lower in the near term against the US dollar and other major currencies.

US dollar sellers failed time and again to take the dollar lower as the fundamental outcome exceeded the market forecast recently.

Euro and other major currencies might correct higher, but the trend is down in the short term.

British pound continued to trade lower against the US dollar and might head towards 1.50.

US dollar and Japanese yen gained a lot recently and looks set for more gains moving ahead.

US dollar continued to surge higher against most major currencies and might further head higher in the near term.

The US dollar traded lower against most major currencies, but the Japanese yen was also one of the losers as it was seen trading lower Intraday. The USDJPY pair has formed a triangle on the hourly chart which can be seen as a breakout pattern.

The Price of silver has been gradually falling since 2011. Silver at its highs in April of 2013 commanded $49.5 per ounce. Today however, following the release of the US GDP readings and the consequent strengthening of the dollar, silver has fallen below its four year low. We have gone below the $16.5 mark and we are now well in the way to test the $15 per ounce price level.

Yesterday, the AUDUSD pair was seen surging higher as it climbed towards the 0.8900 level. However, the fed interest rate decision spoiled the party, as the pair moved lower sharply after the release. The pair moved more than 100 pips lower after the release and currently managing to hold the 76.4% fib retracement level of the last move from the 0.8717 low to 0.8909 high

The EURGBP has found resistance at the 0.80 major level and prices have fallen over 100 pips. The bullish spike was the result of a price rejection at the major support level near the two year low. The Pair has been on  bearish slide, consistently making lower lows for the last 15 month. This down trend has fallen into a clear channel visible on the daily and weekly time frames.

Euro continued to rise against the US dollar as the latter one got hammered Intraday against almost all major currencies

The NZDJPY has been on a major uptrend since the last week if August 2013, the moving averages signaled the commencement of the up trend when the 14 period moving average and the 21 period moving average managed to cross below the candle sticks and a full candle closed above them on the first week of August 2013

Yesterday, the upside in the EURUSD pair failed right around an important resistance area around the 1.2720 level.

GBPCHF cross has been consistently making higher highs for the last six months. From peak to trough, the GBPCHF up trend is about 1000 pips. 

Gold, after being unable to move above its 100-day moving average of $1257 and breaking below its important support zone at $1242, formed a very safe base near the $1230 level on the daily chart.

The kiwi has been selling off for the last three months. We however found support at 0.7707 level which is last month’s low and the low of this year.

There is a bullish trend line on the 1 hour chart of the NZDUSD pair, which is acting as a support for the pair and managed to hold the downside on more than three times.

US dollar consolidated against the Euro and British pound during the Asian session

Today London opened to surprisingly soft UK retail sales that are a stark contrast to the news from both the US and Europe.

The Australian dollar was mostly seen trading in a range against the US dollar, and it also formed a breakout pattern on the hourly chart.

The British pound climbed towards the 1.6180 yesterday against the US dollar, but somehow failed to overtake it. There was an important bullish trend line on the hourly chart of the GBPUSD pair, which was broken recently.

During the Asian session, we received higher GDP readings for china than expected this has led to the shorting of the USDCNH pair for the most of the morning session.

The Euro was seen slowly crawling higher against the US dollar during the past couple of sessions. However, the upside was limited as there is an important bearish trend line on the hourly chart, which is containing the Euro buyers.

Since July, the Market has been lowering the price of oil consistently as the sellers are willing to accept less and less for their oil. Last week, we saw that there is a sound fundamental backing for the fall in oil prices; increased supply of oil has led to an increase in competition among producers and this has had a easing effect on oil prices.

The New Zealand dollar has come under pressure recently after there were several statements released by the RBNZ pointing out intervention to control strength in the NZDUSD pair

Since the major Sell off the EUR due to weak economic sentiment from the Euro zone and the simultaneous strengthening of the USD, the EURUSD has fallen over 1000 pips from 1.396 to the 1.25 area. It has taken us a period of 5 months to find support at 1.249 levels just below the 1.25 major levels which represents a consistent fall for 22 weeks.

The US dollar slowly grinded higher against the Japanese yen, but it failed to break an important bearish trend line on the hourly chart. There are two bullish signs to note as of now. 

A stream of soft economic data coming from the UK, We have seen the Cable fall across the board against the entire major currencies basket.

SILVER and GOLD also took the advantage of the US dollar weakness. SILVER traded above the $17.50 level and broke an important bearish trend line on the hourly chart

Since the NZDJPY cross broke out of its multi month range in December 2012, we have seen the pair steadily appreciate over 20000 points. The first major consolidation was over a two months period about half the length of the whole up trend but eventually the pair was able to break to higher highs and touched its current yearly high at 89.09 on April.

The British pound collapsed yesterday against a basket of currencies, including the US dollar and the Euro. The reason was horrible economic data in the UK

Since the SNB introduces an artificial support in 2011, the EURCHF cross has been barely tradable.  Volatility in the pair has been absolutely crushed, on a good month; we can see the pair move just a 100 pips the for the whole period; the equivalent of a day’s move in other pairs.

The British pound came under severe pressure against most major currencies after the release of the British Retail Consortium (BRC) Retail Sales Monitor.

The EURCAD has been on a down trend since March of this year. The down trend has fallen into a neat channel clearly visible from the daily chart. From the peaks on February at 1.55 we have fallen over 1500 pips and we are now approaching the 1.400 level.

Gold continued its strong uptrend in this morning’s session as most Asian markets witnessed a sell-off in the equities markets on Friday, which occurred due to a breakdown in the Dow Jones. Gold rose because the USD fell, causing traders to look for a safe haven.

The New Zealand dollar traded higher against the US dollar during the Asian session, and broke an important resistance area. There was a confluence of 100 and 200 hourly moving average around the 0.7840, which was breached as NZDUSD buyers gained momentum

Since December of 2009 the EURGBP has been on a down trend; from peak to trough the trend measures over 20,000 pips. The down trend is currently approaching a major multi month trend line of an even larger up trend that from peak to trough measures 40,000 pips. The later uptrend started in march of 2000. Currently the prices are just 200 pips above the major trend line we anticipate to see major rejection of prices as it approaches the major trend line and a similar rejection as it approaches the upper bound of the minor trend.

The Aussie dollar traded lower during the Asian session against a couple of major currencies, including the Euro. The main reason for the decline in the Aussie dollar was the disappointing economic releases during the Asian session. The EURAUD pair climbed higher towards the 1.4500 area, but found an important resistance in the form of a bearish trend line on the 1 hour timeframe. There is a chance that the EURAUD pair move lower from the current level. However, there are several support areas on the way down for the pair. The most important one can be seen around the 50% fib retracement level of the last leg from the 1.4342 low, which also coincides with the 200 hourly moving average.

The USD CHF has been on a major long term down trend since October of 2000. There are about 10,000 pips from peak to trough of this trend. The trend line has been tested twice before on December of 2008 and may of 2006 on which times it successfully provided enough resistance to the bullish exchange prices.

The Aussie dollar traded higher against the US dollar yesterday and broke an important resistance area yesterday. Earlier during the Asian session, a critical release was scheduled in Australia i.e. the employment data. The data was not on the encouraging side, as the employment change missed the mark and participation rate also dropped.

The multi-month NZDJYP uptrend seems to have ran out of steam. In the last 36 months, the pair has gained over 2000pips 500 of which it has given back in the last six months. From the monthly chart the current month has been preceded by three bearish candles and the bearish momentum seems to be picking up. The question on every traders mind is whether this is a temporary consolidation or this is a major reversal taking place.

The British pound recently struggled to break the 1.6100-10 resistance area against the US dollar. Earlier during the Asian session, the GBPUSD pair broke an important bullish trend line on the hourly chart, which might encourage the British pound sellers in the short term. It has also closed below the 100 hourly moving average, which is a bearish sign

The GBPUSD has been on a major down trend since July of this year. We have trended down from 1.7100 to 1000 pips below at 1.5900. On Friday last week, cable found support against the USD at 1.5950 and has since then retraced over 100 pips up. The market is keen to see up to what point the retracement will go.

The Euro formed a perfect curve pattern against the US dollar and climbed higher to challenge the 1.2660 resistance area. There was a broken bullish trend line, which acted as a resistance for the EURUSD pair. The most important thing was that the 200 hourly moving average was also sitting around the same trend line. The pair failed to overtake the mentioned resistance area and currently trading lower. It broke the 100 moving average on the hourly timeframe, which might act as a support in the near term. There is a chance of one more spike towards the 200 moving average, and if the pair fails to break higher again, then it might dive lower towards the 1.2550 area.

The USDJPY has been on an uptrend since the third quarter of 2011 from which time it has appreciated over 2000 pips. On its way up, the trend has shad only a few periods of consolidation. The question on every yen traders mind is whether it is time to take profits and prepare for the down trend o will this trend be continuing.

The New Zealand dollar suffered heavy losses in the past couple of weeks against the US dollar. This past week turned out to be the US dollar week, as the US nonfarm data lifted the US dollar. The NZDUSD pair broke an important bullish trend line on the hourly chart, which paved way for more losses. The pair traded close to the 0.7700 support area. It is now correcting higher, but might face resistance around the broken support area.

The US dollar was seen trading lower against the Swiss franc and the Japanese yen yesterday. USDJPY fell below a critical support trend line and traded towards the 108.00 level. It managed to find buyers around the mentioned level, and currently trading back higher. However, it faces a monster hurdle around the broken trend line. There is one more important point to note that the 200 hourly moving average is sitting just above the broken support trend line

The AUDUSD has been on a bearish streak since the eighth of September this year. We have however been having a bullish correction for the last three days after the pair found support at 0.8683 near the low of 2014. The bears have managed to drive the pair back above the 0. 88 level. We are interested in seeing the strength of the correction and to understand the direction of the currency in the medium term and in the short term.

The USD JPY has been on a persistent uptrend since July 10^th of this year. In the longer term, the pair has been on a bullish streak since 2012. We are currently approaching the 2008 highs about 100 pips above out present levels. However as we approach this major resistance the bulls seem to be losing steam and a possible consolidation is anticipated.

The Australian dollar traded higher against the US dollar earlier during the Asian session, and broke an important resistance area. There was a critical bearish trend line on the hourly chart of the AUDUSD pair, which was also coinciding with the 100 hourly simple moving average. The pair broke the mentioned confluence area and managed to settle above the same. This particular break is very crucial, as it opens the way for more upside in the coming sessions.

Since breaking it long tern down trend in May, the dollar has been on a consistent upswing against the Swisse; from the exchange rate being at 0.8711 on July 2013 to levels above the 0.9500 last month. Yesterday USDCHF hit fresh year’s highs at 0.9596. Apart from catching the next reversal we are interested in getting the next move and direction of the pair.

The NZDUSD has fallen for three straight months since July. Apart from the second week of September where the pair found significant resistance near the 0.8400 major level, every week closed below its opening levels. Today at the 0.7750 Levels, we are ready to retest the 0.7700 major levels again. The question is can we possibly fall any further and if so, by how much?

Euro struggled to gain momentum above a major resistance area around the 1.2700 level, GBPUSD pair struggling to clear the 55 simple moving average, which is currently around the 1.6260 level.

Since mid-July of this year, the cable has been selling off for over a thousand pips from the highs of 1.715 to lows at the 1.605 level.

The DAX tumbled in Fridays trading session on the back of news that Bill Gross, widely regarded as “bond god” had stepped down from Pimco effective immediately. Bill Gross in a statement said that he would be joining Janus Capital Corp. The slump on the DAX was largely on the back of a sell off seen in Allianz shares which constitute a large percentage of weight age on the DAX. Allianz is the parent company for PIMCO.

New Zealand dollar was trashed, as it traded more than 100 pips lower within minutes after the Reserve Bank of New Zealand reported that the central bank sold around NZ$521 million in August in intervention.

US dollar after surging against the Japanese yen looks like set for a short-term correction. Japan’s Consumer Price Index (CPI) came in at 3.3%, compared to the expectation of a 3.4% rise.

Euro broke an important support level yesterday to trade below the 1.2800 area against the US dollar

The currency pair closed marginally in the red, as the investors seemed to book profits from the recent rally in the U.S. dollar, the currency pair traded in a range of 1.2840 and 1.2903 and consolidated with a loss of 0.02% at 1.2847

Euro continues to struggle against the US dollar, as it failed one more time to break a key resistance area., British pound managed to hold an important support area not only against the US dollar, but also against the Japanese yen.

US dollar continues to trade higher against the Swiss franc, as the USDCHF pair sellers failed to take it lower.

The euro bounced back from 14 month lows against the dollar in the early morning trading session but many believe the gains are going to be capped as the expectations of an earlier than expected rate hike continue to remain. It is imperative to know that the Euro has been broadly under pressure since the European Central bank cut interest rates and introduced a loose monetary policy to kick-start a stagnating Eurozone economy.

Euro opened this week on the positive note, and it is very likely to continue correcting higher against the US dollar and the Australian dollar

US dollar breaks an important resistance against the Japanese yen to trade above the 109.00 level and challenge the 109.50 area.

EUR/USD on the hourly charts had a very tepid trading session after the massive selling it witnessed yesterday post the Fed’s announcement

US dollar surged higher yesterday after the fed interest rate announcement in which the central bank continued with their taper plan and reduced asset purchasing program from $15B to $10B.

EUR/USD saw some buying emerge in yesterday’s trading session on the back of the dollar witnessing some profit taking amid placid economic reports.

There is an important sliding channel formed on the hourly chart of the EURNZD pair, which might act as a catalyst for the pair in the short term. It looks like the pair is in the fourth wave from the 1.5934 high, and might be completing it around the channel resistance trend line for one last low in the current cycle

The Euro remained steady against the US dollar even though the economic reports coming out of Germany with regards to the business sentiment index came lower than expectations. The current conditions came in at 25.4 versus a reading of 44.3 a month ago. The report is indicative of the stagnant Eurozone economy and points towards the fact that the European central bank would be forced to maintain its loose monetary policy even while the Federal Reserve might take steps towards rising interest rates and winding down its bond buying programme.

Aussie dollar has recovered some ground since yesterday against the US dollar and the Japanese yen

Traders and investors would be closely watching the release of the Fed minutes post the FOMC meet to understand the future policy action of the Federal Reserve as many believe that the Fed would continue winding down its bond buying programme

There is a major bullish trend line formed on the hourly timeframe of the EURUSD pair, which is likely to act as a catalyst for the pair in the near term

Gold continues to consolidate and trade in a very narrow range of four dollars. XAU/USD opened at 1,254.85 in Asian trading session. XAU/USD has strong support at $1,245 levels which is critical for bulls. More upside in yellow metal would be seen only if it closes above $1,262 for two consecutive days than it can go up till $1,282 and $1,300 in near term.

Trading in EUR/USD continues to remain subdued without much moment. However, Bulls had something to cheer for as EUR/USD gave a breakout above its 20-Day EMA on 15 minutes charts by trading above 1.28829.

It’s the kind of a day when EUR/USD has finally moved into positive territory on hourly charts. However, it is finding difficult to sustain at higher levels. Overall EUR/USD continues to remain weak and break of weekly low of 1.2920 would take currency pair all the way down to 1.2905 and 1.2890.