2018-08-28
In Asia, Japan will release the BOJ Core CPI y/y and the US will release some Economic Data such as Richmond Manufacturing Index, CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, Prelim Wholesale Inventories m/m, and Goods Trade Balance. So there is a probability the USD/JPY pair will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL: Resistance. 3: 111.82. Resistance. 2: 111.60. Resistance. 1: 111.38. Support. 1: 111.11. Support. 2: 110.89. Support. 3: 110.68.
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 therisks associated with foreign exchange trading, and seek advice froman independent financial advisor if you have any doubts.
Technical analysis: Intraday Level For EUR/USD, Aug 28, 2018
2018-08-28
TODAY'S TECHNICAL LEVEL: Resistance. 3: 111.82. Resistance. 2: 111.60. Resistance. 1: 111.38. Support. 1: 111.11. Support. 2: 110.89. Support. 3: 110.68.
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 therisks associated with foreign exchange trading, and seek advice froman independent financial advisor if you have any doubts.
Technical analysis: Intraday Level For EUR/USD, Aug 28, 2018
2018-08-28
When the European market opens, some Economic Data will be released such as Private Loans y/y, and M3 Money Supply y/y. The US will release the Economic Data too such as Richmond Manufacturing Index, CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, Prelim Wholesale Inventories m/m, and Goods Trade Balance, so amid the reports, EUR/USD will move in a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL: Breakout BUY Level: 1.1739. Strong Resistance:1.1732. Original Resistance: 1.1721. Inner Sell Area: 1.1710. Target Inner Area: 1.1682. Inner Buy Area: 1.1654. Original Support: 1.1643. Strong Support: 1.1632. Breakout SELL Level: 1.1625.
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 therisks associated with foreign exchange trading, and seek advice froman independent financial advisor if you have any doubts.
EUR/GBP Approaching Resistance, Prepare For Reversal
2018-08-28
EUR/GBP is approaching its resistance at 0.9071 (100% Fibonacci extension, 61.8% Fibonacci retexpected.racement, horizontal swing high resistance) where it is expected to reverse down to its support at 0.8992 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support). Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
EUR/GBP is approaching its resistance where we expect to see a reversal.
Sell below 0.9071. Stop loss at 0.9102. Take profit at 0.8992.
TODAY'S TECHNICAL LEVEL: Breakout BUY Level: 1.1739. Strong Resistance:1.1732. Original Resistance: 1.1721. Inner Sell Area: 1.1710. Target Inner Area: 1.1682. Inner Buy Area: 1.1654. Original Support: 1.1643. Strong Support: 1.1632. Breakout SELL Level: 1.1625.
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 therisks associated with foreign exchange trading, and seek advice froman independent financial advisor if you have any doubts.
EUR/GBP Approaching Resistance, Prepare For Reversal
2018-08-28
EUR/GBP is approaching its resistance at 0.9071 (100% Fibonacci extension, 61.8% Fibonacci retexpected.racement, horizontal swing high resistance) where it is expected to reverse down to its support at 0.8992 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support). Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
EUR/GBP is approaching its resistance where we expect to see a reversal.
Sell below 0.9071. Stop loss at 0.9102. Take profit at 0.8992.
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USD/CAD Testing Support, Prepare For Bounce
2018-08-28
USD/CAD is testing its support at 1.2960 (61.8% Fibonacci extension, 61.8%, 50%, 38.2% Fibonacci retracement, horizontal swing low support) where the price is expected to bounce up to its resistance at 1.3086 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is testing its support at 3.7% where a corresponding bounce is expected.
USD/CAD is testing its support where we expect to see a bounce.
Buy above 1.2960. Stop loss at 1.2878. Take profit at 1.3086.
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Technical analysis of Gold for August 28, 2018
2018-08-28
Gold price has formed a bullish flag pattern and shows signs of breaking upwards. The pullback towards $1,200 did not come as price only fell towards $1,203. Short-term trend is bullish and we expect Gold price to reach $1,220 over the coming days.
Red line - support trend line
Blue lines - bull flag pattern
Green rectangle - major support and trend change level
Gold price is making higher highs and higher lows. Short-term trend is bullish as long as price is above the green rectangle area at $1,180-83. We also have support at $1,190. Resistance is at $1,228-35. We are bullish Gold as long as it stays above $1,200 as we could have made a major low in August at $1,159.
Technical analysis of EUR/USD for August 28, 2018
2018-08-28
EUR/USD has broken above the neckline resistance of the inverted Head and Shoulders pattern and above the 1.1660 resistance trend line. Short-term trend is bullish. There are some warning divergence signs in the 4-hour chart but they could justify only a pullback towards 1.16.
Blue lines - bull flag pattern
Green rectangle - major support and trend change level
Gold price is making higher highs and higher lows. Short-term trend is bullish as long as price is above the green rectangle area at $1,180-83. We also have support at $1,190. Resistance is at $1,228-35. We are bullish Gold as long as it stays above $1,200 as we could have made a major low in August at $1,159.
Technical analysis of EUR/USD for August 28, 2018
2018-08-28
EUR/USD has broken above the neckline resistance of the inverted Head and Shoulders pattern and above the 1.1660 resistance trend line. Short-term trend is bullish. There are some warning divergence signs in the 4-hour chart but they could justify only a pullback towards 1.16.
Red line - resistance
Blue line - neckline
Black line - support
Red line RSI- Bearish divergence
The EUR/USD pair has broken through both resistance levels (trend line and neckline). The EUR/USD pair could be forming a bigger reversal pattern as we might have seen the end of the decline from 1.24. If this is the case, the next deep pullback in EUR/USD should not break below the 1.13 low and form a higher low. We could see a push through 1.17-1.1750 before a deeper pullback towards 1.16. So far we only have some warning signs in the 4-hour chart but only for a short-term top and a pause to this new upward move. I prefer to be a buyer on pullbacks towards 1.16 than chase bullish positions at 1.17.
Blue line - neckline
Black line - support
Red line RSI- Bearish divergence
The EUR/USD pair has broken through both resistance levels (trend line and neckline). The EUR/USD pair could be forming a bigger reversal pattern as we might have seen the end of the decline from 1.24. If this is the case, the next deep pullback in EUR/USD should not break below the 1.13 low and form a higher low. We could see a push through 1.17-1.1750 before a deeper pullback towards 1.16. So far we only have some warning signs in the 4-hour chart but only for a short-term top and a pause to this new upward move. I prefer to be a buyer on pullbacks towards 1.16 than chase bullish positions at 1.17.
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