2018-08-09
Finally, EUR/NZD broke clear above resistance at 1.7224 to confirm that red sub-wave iii higher towards 1.7510 is developing. Resistance at 1.7510 should not be able to hold back the ongoing rally for long and once cleared the next target to look for is seen at 1.8369 on the way higher to our long-term outstanding target at 1.9844.
Support is now seen at 1.7310 and then at 1.7224, but ideally, support at 1.7310 will be able to protect the downside for the rally 1.7510 and above.
R3: 1.7510
R2: 1.7479
R1: 1.7415
Pivot: 1.7343
S1: 1.7310
S2: 1.7262
S3: 1.7224
Trading recommendation:
We are long EUR from 1.7226 and we will move our stop higher to 1.7200.
Technical analysis: Intraday level for USD/JPY, Aug 09, 2018
2018-08-09
In Asia, Japan will release the Prelim Machine Tool Orders y/y, 30-y Bond Auction, M2 Money Stock y/y, and Core Machinery Orders m/m data, and the US will release some Economic Data such as 30-y Bond Auction, Natural Gas Storage, Final Wholesale Inventories m/m, Unemployment Claims, Core PPI m/m, and PPI m/m. So there is a probability the USD/JPY will move with a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Resistance 3: 111.39.
Resistance 2: 111.17.
Resistance 1: 110.95.
Support 1: 110.69.
Support 2: 110.45.
Support 3: 110.25.
Disclaimer: Trading Forex (foreign exchange) on margin carries a highlevel of risk, and may not be suitable for all Traders or Investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefullyconsider your investment objectives, level of experience, and riskappetite. The possibility exists that you could sustain a loss of someor all of your initial investment and therefore you should not investmoney that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Technical analysis: Intraday Level For EUR/USD, Aug 09, 2018
2018-08-09
When the European market opens, some Economic Data will be released such as ECB Economic Bulletin. The US will release the Economic Data too, such as 30-y Bond Auction, Natural Gas Storage, Final Wholesale Inventories m/m, Unemployment Claims, Core PPI m/m, and PPI m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1667.
Strong Resistance: 1.1660.
Original Resistance: 1.1649.
Inner Sell Area: 1.1638.
Target Inner Area: 1.1610.
Inner Buy Area: 1.1582.
Original Support: 1.1571.
Strong Support: 1.1560.
Breakout SELL Level: 1.1553.
Disclaimer: Trading Forex (foreign exchange) on margin carries a highlevel of risk, and may not be suitable for all Traders or Investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefullyconsider your investment objectives, level of experience, and riskappetite. The possibility exists that you could sustain a loss of someor all of your initial investment and therefore you should not investmoney that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Technical analysis of NZD/USD for Aug 09, 2018
2018-08-09
At the Daily Charts we see the NZD/USD pair moving in a Bearish bias. This can be confirmed by the price moving bellow the Moving Average 100 periods, now because the Stochastic Oscillator already at Oversoldlevel area there will be a correction to the upside in a few days ahead at least to test the Support becoming Resistance level at 0.6686 before this pair went back again to its previous trend (Bearish). (Disclaimer)Technical analysis of AUD/USD For Aug 09, 2018
2018-08-09
The AUD/USD pair now moving in a Bearish bias, this condition is already confirmed by the price moving orderly bellow the Moving Average 100 periods and inside the down slope channel at the Daily Charts, although now this pair is moving in a Sideways condition because the Stochastic Oscillator is now already at Overbought level area.There is a possibility in a few days ahead that this pair will continue its Bearish bias as long as it does not break out and close above the 0.7845 level. (Disclaimer)Technical analysis of USD/CAD for August 09, 2018
2018-08-09
Overview:
Pivot point: 1.3048.
The USD/CAD pair continues to trade downwards from the level of 1.3048. This week, the pair dropped from the level of 1.3048 to the bottom around 1.2974 then set around the spot of 1.3011. Today, the first resistance level is seen at 1.3094 followed by 1.3132, while daily support 1 is seen at 1.2974. According to the previous events, the USD/CAD pair is still moving between the levels of 1.3048 and 1.2974; for that, we expect a range of 74 pips (1.3048 - 1.2974). If the USD/CAD pair fails to break through the minor resistance level of 1.3048, the market will decline further to 1.3048. This would suggest a bearish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 1.2974 with a view to testing the daily major support. However, if a breakout takes place at the resistance level of 1.3094, then this scenario may become invalidated.
Technical analysis of NZD/USD for August 09, 2018
2018-08-09
Overview:
The NZD/USD pair opened below the weekly pivot point (0.6683). It continued to move downwards from the level of 0.6705 to the bottom around 0.6661. Today, the first resistance level is seen at 0.6705 followed by 0.6732, while daily support 1 is seen at 0.6661. Furthermore, the RSI starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 0.6683. So it will be good to sell at 0.6683 with the first target of 0.6630. It will also call for a downtrend in order to continue towards 0.6602.
The strong daily support is seen at the 0.6602 level, which represents a new double bottom on the H1 chart. According to the previous events, we expect the NZD/USD pair to trade between 0.6683 and 0.6602 in coming hours. The price area of 0.6683 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 0.6683 is not broken. On the contrary, in case a reversal takes place and the NZD/USD pair breaks through the resistance level of 0.6732, then a stop loss should be placed at 0.6754.
Pivot point: 1.3048.
The USD/CAD pair continues to trade downwards from the level of 1.3048. This week, the pair dropped from the level of 1.3048 to the bottom around 1.2974 then set around the spot of 1.3011. Today, the first resistance level is seen at 1.3094 followed by 1.3132, while daily support 1 is seen at 1.2974. According to the previous events, the USD/CAD pair is still moving between the levels of 1.3048 and 1.2974; for that, we expect a range of 74 pips (1.3048 - 1.2974). If the USD/CAD pair fails to break through the minor resistance level of 1.3048, the market will decline further to 1.3048. This would suggest a bearish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 1.2974 with a view to testing the daily major support. However, if a breakout takes place at the resistance level of 1.3094, then this scenario may become invalidated.
Technical analysis of NZD/USD for August 09, 2018
2018-08-09
Overview:
The NZD/USD pair opened below the weekly pivot point (0.6683). It continued to move downwards from the level of 0.6705 to the bottom around 0.6661. Today, the first resistance level is seen at 0.6705 followed by 0.6732, while daily support 1 is seen at 0.6661. Furthermore, the RSI starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 0.6683. So it will be good to sell at 0.6683 with the first target of 0.6630. It will also call for a downtrend in order to continue towards 0.6602.
The strong daily support is seen at the 0.6602 level, which represents a new double bottom on the H1 chart. According to the previous events, we expect the NZD/USD pair to trade between 0.6683 and 0.6602 in coming hours. The price area of 0.6683 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 0.6683 is not broken. On the contrary, in case a reversal takes place and the NZD/USD pair breaks through the resistance level of 0.6732, then a stop loss should be placed at 0.6754.
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