Forex Daily Technical analysis report Wave Analysis 14.03.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Forecast for March 14^th, 2016

EUR USD, “Euro vs US Dollar”

Probably, last week Eurodollar completed the wave [ii] in the form of the flat. It looks like on the minor wave level the pair is already forming the descending impulse in the wave (i). In the nearest future, the market may continue its decline.



More detailed structure is shown on the H1 chart. The flat in the wave [ii] has been finished with a fast impulse in the wave (c). After completing the wave ii, the market mat resume falling and break Friday’s low.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still being corrected. It looks like the wave 4 is taking the form of the zigzag with the ascending impulse [c] inside it. Later, the pair may start falling and form the descending impulse in the wave (i).



As we can see at the H1 chart, after completing the wave [b], Pound has started growing in the wave [c] of 4with the wave (iv) being finished inside it. On Monday, the price may complete the local correction and move upwards a little bit in the wave (v) of [c].

USD JPY, “US Dollar vs Japanese Yen”

It looks like Yen has finished the triangle [iv]. Consequently, in the nearest future the market may start falling in the wave [v] of C and later break the minimum of the wave [iii].



Probably, Yen completed the wave (e) and then rebounded from the triangle’s upper border. Later, the market formed the descending impulse in the wave i. After completing the local correction, the price may start falling in the wave iii.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is about to finish the ascending wave 4. On the minor wave level, the price has completed the impulse (c) of [y]. One of these days, the pair may resume falling.



More detailed structure is shown on the H1 chart. It looks like after finishing the wave iv, the pair has formed the bullish impulse in the wave v of (c). On Monday, the price may fall in the wave i.



 
RoboForex Analytical Department

Forex Technical Analysis forex trading blog uk 11.03.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY,)

Analysis for March 11^th, 2016

EUR USD, "Euro vs US Dollar"

Eurodollar expanded its trading range downwards to form the reversal pattern, and then, being influenced by the news, expanded the range upwards as well. The pair has reached its target. However, the form of this ascending movement implies that today the price may be corrected towards 1.1057 and then (an alternative scenario) form another ascending structure with the target at 1.1290. Later, in our opinion, the market may continue falling to reach 1.0770.

GBP USD, "Great Britain Pound vs US Dollar"

Pound has reached the target of its ascending wave and right now is forming another consolidation channel. The descending impulse isn't strong enough to reverse the trend downwards so far and may be considered only as the correction towards 1.4277 (at least) or even 1.4115. After that, the pair may start another growth to reach a new high and then form a new descending wave with the target at 1.3750.

USD CHF, "US Dollar vs Swiss Franc"

Franc expanded its trading range upwards and then, being influenced by the news, expanded the range downwards as well.  We think, today the price may be corrected to return to 0.9933. Later, in our opinion, the market may fall towards 0.9776 and then start another growth with the target at 1.0200.

USD JPY, "US Dollar vs Japanese Yen"

Yen has rebounded from the upper border downwards and may reach 111.88. As long as the market continues growing, it may expand the consolidation channel towards 116.00 as another correction. However, this growth is quite questionable and may be considered only as an alternative scenario. The main scenario still implies that the price is expected to fall towards 108.40.

AUD USD, "Australian Dollar vs US Dollar"

Australian Dollar is still consolidating at the top of its ascending wave; this movement may be considered as a possible reversal pattern. We think, today the price may fall towards 0.7400 and then return to 0.7460 to test it from below.  After that, the pair may start another decline with the target at 0.7300.

USD RUB, "US Dollar vs Russian Ruble"

Russian Ruble is forming the third wave inside the downtrend. The target is at 65.00. After that, the pair may be corrected towards 72.

XAU USD, "Gold vs US Dollar"

Although Gold has reached a new high, right now it is forming another descending impulse. We think, today the price may reach 1263 and then return to 1274. Later, in our opinion, the market may break the minimum of the first impulse and then continue falling inside the downtrend to form the first descending wave with the target at 1191.

Wave Analysis 11.03.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD) ECN FX

EUR USD, "Euro vs US Dollar"

Probably, the wave [ii] is taking the form of the zigzag, and the bullish rally, which took place yesterday, was the wave (c) inside it. Consequently, later the pair may continue fall in the wave (i). If the price does form the descending impulse, the market will resume its decline.



More detailed structure is shown on the H1 chart. Probably, after completing the wave (b) in the form of thezigzag, the price has formed a fast bullish impulse in the wave (c). If the pair forms the descending wave i during the day, bears may return to the market.

GBP USD, "Great Britain Pound vs US Dollar"

It's highly likely that Pound has completed the correction. However, in order to confirm it, the pair must form the descending wave (i). Until that, there is a risk that the wave [c] of 4 may continue and I wouldn't start selling right now.



As we can see at the H1 chart, after completing the wave [b], Pound has formed the ascending impulse, which may be the wave [c] of 4. However, this movement may as well be considered as the first wave in the wave [c], which means that the market has completed its decline in the form of the correctional pattern and formed this bullish impulse after that.

USD JPY, "US Dollar vs Japanese Yen"

It looks like Yen has finished the triangle [iv]. Consequently, in the nearest future the market may start falling in the wave [v] of C and later break the minimum of the wave [iii].



More detailed structure of the triangle is shown on the H1 chart. Probably, yesterday Yen completed thezigzag in the wave (e). After rebounding from the pattern's upper border, the market has started falling in the wave i. After completing the local correction, the price may start forming the bearish wave iii.

AUD USD, "Australian Dollar vs US Dollar"

Australian Dollar is still forming the ascending wave 4. On the minor wave level, the price is forming the impulse (c) of [y]. One of these days, the pair may complete the bullish impulse and resume falling.



At the H1 chart, the pair is about to finish the wave (c) of [y]. On the minor wave level, Australian Dollar is finishing the wave v. Possibly, on Friday the price may break the maximum of the wave iii and then start falling.

Forex Technical Analysis 22.10.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

EUR USD, “Euro vs US Dollar”

Eurodollar is falling to break the ascending channel downwards at 1.1330. The predicted downside target is at 1.1170. The closest target is at 1.1242. After that, the instrument may return to the broken ascending channel and then start another descending movement to reach the above-mentioned predicted target (at least).

GBP USD, “Great Britain Pound vs US Dollar”

Pound has rebounded from the center of the consolidation channel and returned to the lower border. We think, today, the price may break the border and the ascending channel as well. The downside target is at 1.5320. After that, the instrument may return to the broken ascending channel at 1.5410.

USD CHF, “US Dollar vs Swiss Franc”

Franc has broken its descending channel. The predicted upside target is at 0.9660. After that, the instrument may return to the broken descending channel at 0.9570 and then continue moving upwards to reach 0.9870.

USD JPY, “US Dollar vs Japanese Yen”

Yen is rebounding from 120.00. The downside target is at 119.10. After that, the instrument may return to 119.50 to test it from below and then continue falling inside the downtrend to reach 117.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has formed another descending structure, which may be considered as a half of the third structure of the correction. We think, the price may consolidate at the current lows and try to grow towards 0.7270. After that, the instrument may continue falling to reach the local target at 0.7150.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is still moving in the center of its consolidation channel. We think, today, the price may continue falling towards the channel’s lower border. After breaking it, the instrument may reach the local target at 60.00.

XAU USD, “Gold vs US Dollar”

Gold has expanded its trading range downwards and is trying to break the ascending channel. The main scenario implies that the price may form another structure to reach 1155.

Forex Technical Analysis Forex blog uk

Analysis for July 3^rd, 2015

EUR USD, "Euro vs US Dollar"

After returning to level of 1.1100, Eurodollar has started consolidating inside a narrow channel. We think, today, the price may continue forming its descending wave with the target at level of 1.0930. After that, the pair may return to level of 1.1180.

​

GBP USD, "Great Britain Pound vs US Dollar"

Pound is forming another consolidation channel. We think, today, the price may continue falling to reach level of 1.5506. Later, in our opinion, the market may form a correction to return to level of 1.5715.

Forex trading fundamental report 2015/07/01

Greece is in a default, but the euro is unfazed

The main currency pair is unusually calm on Wednesday morning: the Greek technical default took place, although no one has given this definition of the lack of payment.

Default is the most popular hashtag on the Greek instagram. In my opinion, this is popularity: the economic problems of Athens are watched more than kittens and other fun things. However, for Greece itself it is now unlikely to be convenient and comfortable, in fact, starting from July 1st, it has two months to figure out how to pay off it debts. If the solution does not appear by September, the country will declare itself bankrupt for real.

The euro/dollar is stable on Wednesday morning, and the pair is trading around 1.1130.  Athens owes most of their money to Germany, Spain and Italy. Well, the International Monetary Fund, of course. Despite the fact that on paper, there is some budget surplus, there is almost no money in the treasury. Before Greece was also in arrears with payments and tried to negotiate more favorable conditions of service credit lines. But now all this is in the past: Greece will not see the tranche of almost 7 billion euro until it pays off the debt.

The market is talking about whether Russia will pay the 1.6 billion euro for Greece. I think it will not. On SPIEF there were talks about loans, but Moscow will keep its neutrality in this matter. At the moment it makes no sense to direct the focus of the Old World on itself.

Greece, as a result of recent events, has become the first of the developed countries, who could not repay the loan to the IMF. The precedent has been created, and who knows what will happen next in the story of the rich lenders and the poor borrowers.

The behavior of the euro/dollar is very interesting in this context. Most likely, in the coming days, the instrument will play on any comments on this subject, but the entry to the bottom of the medium-term range will happen only if the dialogue, as vague as it is, will turn in an unexpected direction.

Forex trading online -forex technical analysis Report 01.07.2015

EUR USD, “Euro vs US Dollar”-forex technical analysis Report

Eurodollar has eliminated the gap and almost completed its correctional structure. We think, today, the price may start another descending movement towards level of 1.1090 and then return to level of 1.1185. After that, the pair may continue falling to reach level of 1.0930.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has tried to expand its consolidation channel both downwards and upwards. We think, today, the price may expand it downwards again, to reach level of 1.5560 and then form another ascending structure with the target at level of 1.5940. After that, the market may continue falling inside the downtrend.

Forex Technical Analysis 30.06.2015 Forex trading blog uk

Forex Technical Analysis  Analysis for June 30th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has eliminated the gap and almost completed its correctional structure. We think, today, the price may start another descending movement towards level of 1.1090 and then return to level of 1.1185. After that, the pair may continue falling to reach level of 1.0930.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has tried to expand its consolidation channel both downwards and upwards. We think, today, the price may expand it downwards again. To reach level of 1.5560 and then form another ascending structure with the target at level of 1.5940. After that, the market may continue falling inside the downtrend.

USD JPY, “US Dollar vs Japanese Yen”


Yen is still consolidating. We think, today, the price may break the minimum and continue falling toward level of 120.80. Later, in our opinion, the market may return to level of 122.64 and then form another descending structure to reach level of 119.50.

Add caption

Forex Trading blog uk Daily analysis report EURUSD,

EURUSD, Daily Forex Trading blog uk Daily analysis report EURUSD,

The Swiss National Bank has confirmed it engaged in a currency intervention yesterday in EURCHF as the bank sees CHF being too expensive versus EUR (EURCHF being too low). This supported both EURCHF and to certain degree other EUR pairs in yesterday’s trading.  As a result EURUSD moved through the resistance level at 1.1130 and spike up to 1.1278 before falling down again. As per EURUSD futures today’s trading has been careful with light volumes after yesterday’s strong volatility. Strong movement higher from a support suggests that there is further upside ahead in EURUSD. I am seeing intraday support between 1.1110 and 1.1140 while significant daily support and resistance levels are at 1.1006 and 1.1292.

According to ECB’s Coeure Grexit can no longer be excluded. The executive board member said in France’s les Echos that a Greek exit from the Eurozone can unfortunately no longer be excluded, even if the ECB and Eurozone institutions want Greece to stay. Coeure said the European proposals gave Greece time and autonomy to take reform steps, adding that it was Greece’s decision to end the negotiations. Coerue also said that a “No” in the referendum would make it very difficult to continue the political dialogue.

Many commentators are now asking what Greece will be voting on this Sunday. For EU Commission President, the July 5 referendum will be a vote on Greece’s future in Europe, for the Greek opposition it is a vote on EMU membership, but for Tsipras and Syriza it is a way to change bailout terms. The Greek government is still selling a “No” to the creditor’s bailout offer as a chance to get improved conditions, but in reality, the offer will likely no longer be on the table on July 5 and without a bailout program in place the ECB will have difficulties defending its ongoing ELA assistance, which effectively turns it into a lender of last resort and the financier of the Greek government, something the Eurozone treaties clearly rule out. For now Draghi just decided to freeze the amount of ELA, but with the bailout program running out tomorrow, the ECB’s review of the situation on Wednesday could not only end re-financing for Greek banks, but also the Greek government, at least within the Eurozone system.

Yesterday US Dallas Fed manufacturing index improved to -7.0 in June after falling to -20.8 in May. This is a 6th consecutive month that the regional index has been in contractionary territory (below zero), which is mainly a function of the recession in the oil sector. US pending home sales rose 0.9% to 112.6 in May, it’s a 5th straight monthly gain, from a revised 2.7% increase April to 111.6 (was 112.4). Regionally, sales were up in the Northeast (6.3%) and West (2.2%), but lower in the Midwest (-0.6%) and South (-0.8%). Compared to last year, sales are up 8.3% y/y from 12.6% y/y.

Forex trading blog -Forex Technical Analysis 29.06.2015

 Forex trading blog -Forex Technical Analysis :

 EUR USD, “Euro vs US Dollar”

Eurodollar’s reaction to the Greek problem was a strong gap down. The pair has reached the target level of its descending wave and right now is moving to return to level of 1.1180. However, we should note that the market is expected to form another descending structure to reach level of 1.0930. After that, the price may return to 1.1180.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has renewed the minimum of its consolidation channel. Such scenario implies that the price may extend its descending wave towards level of 1.5560 and then form another ascending wave with the target at level of 1.5940. After that, the market may continue falling inside the downtrend.

USD JPY, “US Dollar vs Japanese Yen”

The market was opened with a gap down and Yen reached the target of its descending wave. We think, today, the price may be corrected to return to level of 123.30 and then form another descending wave to reach level of 121.70.