2018-08-27
Overview:
The GBP/USD pair rose from the level of 1.2854 towards 1.2936 last week. Now, the current price is set at 1.2845. On the H1 chart, the resistance is seen at the levels of 1.2936 and 1.2973. Besides, the weekly support 1 is seen at the level of 1.2817. Today, the GBP/USD pair is continuing to move in a bullish trend from the new support level of 1.2854, to form a bullish channel. Amid the previous events, we expect the pair to move between 1.2854 and 1.2973. Therefore, buy above the level of 1.2854 with the first target at 1.2936 in order to test the daily resistance 1 and further to 1.2973 (double top). Nevertheless, if the pair fails to pass through the level of 1.2973, the market will indicate a bearish opportunity below the level of 1.2973. The market will decline further to 1.2854 in order to return to the weekly pivot point. Additionally, a breakout of that target will push the pair further downwards to 1.2735. Besides, it should be noted that the weekly pivot is seen at the level of 1.2854. Moreover, the market is still in an uptrend. We still prefer the bullish scenario.
Technical analysis of NZD/USD for August 27, 2018
2018-08-27
The GBP/USD pair rose from the level of 1.2854 towards 1.2936 last week. Now, the current price is set at 1.2845. On the H1 chart, the resistance is seen at the levels of 1.2936 and 1.2973. Besides, the weekly support 1 is seen at the level of 1.2817. Today, the GBP/USD pair is continuing to move in a bullish trend from the new support level of 1.2854, to form a bullish channel. Amid the previous events, we expect the pair to move between 1.2854 and 1.2973. Therefore, buy above the level of 1.2854 with the first target at 1.2936 in order to test the daily resistance 1 and further to 1.2973 (double top). Nevertheless, if the pair fails to pass through the level of 1.2973, the market will indicate a bearish opportunity below the level of 1.2973. The market will decline further to 1.2854 in order to return to the weekly pivot point. Additionally, a breakout of that target will push the pair further downwards to 1.2735. Besides, it should be noted that the weekly pivot is seen at the level of 1.2854. Moreover, the market is still in an uptrend. We still prefer the bullish scenario.
Technical analysis of NZD/USD for August 27, 2018
2018-08-27
Overview:
The NZD/USD pair couldn't break support at the level of 0.6650. The level of 0.6650 coincides with 38.250% of Fibonacci retracement which is expected to act as major support today. Equally important, the RSI is still signaling that the trend is upward, while the moving average (100) is headed to the upside. Accordingly, the bullish outlook remains the same as long as the EMA 100 is pointing to the uptrend. This suggests that the pair will probably go above the daily pivot point (0.6676) in the coming hours. The NZD/USD pair will demonstrate strength following a breakout of the high at 0.9958. Consequently, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended above 0.6676 with the first target at 0.6712. Then, the pair is likely to begin an ascending movement to the 0.6733 mark and further to the 0.6759 levels. The level of 0.6759 will act as strong resistance, because the double top is already set at 0.6759. On the other hand, the daily strong support is seen at 0.6624. If the NZD/USD pair is able to break out the level of 0.6624, the market will decline further to 0.6541.
EUR/USD analysis for August 27, 2018
2018-08-27
Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1594. Anyway, according to the M30 time – frame, I found rejection of the today's pivot level at the price of 1.1598, which is a sign that selling looks risky. I also found a broken supply trendline and oversold condition on the stochastic oscillator, which is another sign of strength. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.1660 (R1) and at the price of 1.1700 (R2).
Resistance levels:
R1: 1.1661
R2: 1.1703
R3: 1.1766
Support levels:
S1: 1.1556
S2: 1.1493
S3: 1.1450
Trading recommendations for today: watch for potential buying opportunities.
GBP/USD analysis for August 27, 2018
2018-08-27
Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2828. Anyway, according to the M30 time – frame, I found a rejection of the weekly pivot at the price of 1.2837, which is a sign that selling looks risky. I also found a rising trendline and the oversold condition on the stochastic oscillator, which is another sign of strength. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.2880 and at the price of 1.2923.
Resistance levels:
R1: 1.2885
R2: 1.2923
R3: 1.2966
Support levels:
S1: 1.2840
S2: 1.2760
S3: 1.2723
Trading recommendations for today: watch for potential buying opportunities.
Fundamental Analysis of EUR/USD for August 27, 2018
2018-08-27
EUR/USD has been quite impulsive with bullish gains recently which lead the price to reside above 1.15 area with a daily close. Due to recent downbeat economic data from the US, EURO managed to gain certain momentum over USD which is expected to be quite short-lived.
EUR has been trading with a predictable dynamic which encouraged EUR to sustain its momentum in the process. Today, EUR has been quite strong in light of the fundamentals. German Ifo Business Climate index surged to 103.8 from the previous figure of 101.7 which was expected to be at 101.9. Moreover, this week German Retail Sales, Unemployment Rate, and Flash CPI reports are going to be published.
On the other hand, this week US Prelim GDP report is going to be published which is expected to show a slight decrease to 4.0% from the previous value of 4.1% and Unemployment Claims report which is expected to increase to 211k from the previous figure of 210k.
Meanwhile, in the last week of the month, the market is expected to be quite slow and indecisive whereas any negative outcome on the EUR's side is expected to empower USD gains in the coming days which can lead to a further downward move in the process. EUR has gained certain momentum today on the back of positive economic data, but it is not enough to push the price above the key resistances.
Now let us look at the technical view. The price is currently quite indecisive after the previous impulsive bullish momentum which lead the price towards the trend line resistance at 1.1650 area. The price has been also held by the Kumo Cloud resistance as well from where having confluence to push lower towards 1.1500 and later towards 1.1300 support area in the coming days. As the price remains below 1.17 area with a daily close, the bearish bias is expected to continue.
SUPPORT: 1.1500, 1.1300
RESISTANCE: 1.1650, 1.1700, 1.1850
BIAS: BEARISH
MOMENTUM: VOLATILE
Fundamental Analysis of USD/JPY for August 27, 2018
2018-08-27
USD/JPY is currently quite indecisive and volatile after breaking above 110.50 with a false break recently. Despite the recent downbeat economic reports from the US, certain gain on the USD side against JPY does indicate the weakness of JPY in the process.
Citing FED Chair Powell, the US central intends to continue monetary tightening, though at a gradual pace. Less hawkish stance of the US Fed left dollar bulls indecisive. Though President Trump is not quite happy about recent rate hikes, the FED is currently considering at least 3-4 rate hikes in the year ahead. This week US Prelim GDP report is going to be published which is expected to show a slight decrease to 4.0% from the previous value of 4.1% and Unemployment Claims report which is expected to increase to 211k from the previous figure of 210k.
On the JPY side, tomorrow BOJ Core CPI report is going to be published which is expected to decrease to 0.3% from the previous value of 0.4%. On Wednesday, Consumer Confidence report is going to be published which is expected to have a slight decrease to 43.4 from the previous figure of 43.5 and on Friday Unemployment Rate report is going to be published which is expected to be unchanged at 2.4%.
Meanwhile, certain volatility is expected in the pair this week which may lead to certain indecision in the market. Though a series of economic reports will be published but forecasts are mixed which might lead to further gains on the USD side leading to further gains in the pair. Ahead of the Prelim GDP report this week, USD may lead the path if better than expected results are published.
Now let us look at the technical view. The price is currently residing above 110.50 as well the dynamic level of 20 EMA. Though the price has been quite indecisive on Friday but having an impulsive bullish pressure following a strong False Break below 110.50 is expected to inject further bullish momentum in the process. As the price remains above 110.50 with a daily close, the bullish bias is expected to continue further with target towards 112.00 and later towards 113.00 in the coming days.
SUPPORT: 110.50
RESISTANCE: 112.00, 113.00
BIAS: BULLISH
MOMENTUM: VOLATILE
The NZD/USD pair couldn't break support at the level of 0.6650. The level of 0.6650 coincides with 38.250% of Fibonacci retracement which is expected to act as major support today. Equally important, the RSI is still signaling that the trend is upward, while the moving average (100) is headed to the upside. Accordingly, the bullish outlook remains the same as long as the EMA 100 is pointing to the uptrend. This suggests that the pair will probably go above the daily pivot point (0.6676) in the coming hours. The NZD/USD pair will demonstrate strength following a breakout of the high at 0.9958. Consequently, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended above 0.6676 with the first target at 0.6712. Then, the pair is likely to begin an ascending movement to the 0.6733 mark and further to the 0.6759 levels. The level of 0.6759 will act as strong resistance, because the double top is already set at 0.6759. On the other hand, the daily strong support is seen at 0.6624. If the NZD/USD pair is able to break out the level of 0.6624, the market will decline further to 0.6541.
EUR/USD analysis for August 27, 2018
2018-08-27
Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1594. Anyway, according to the M30 time – frame, I found rejection of the today's pivot level at the price of 1.1598, which is a sign that selling looks risky. I also found a broken supply trendline and oversold condition on the stochastic oscillator, which is another sign of strength. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.1660 (R1) and at the price of 1.1700 (R2).
Resistance levels:
R1: 1.1661
R2: 1.1703
R3: 1.1766
Support levels:
S1: 1.1556
S2: 1.1493
S3: 1.1450
Trading recommendations for today: watch for potential buying opportunities.
GBP/USD analysis for August 27, 2018
2018-08-27
Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2828. Anyway, according to the M30 time – frame, I found a rejection of the weekly pivot at the price of 1.2837, which is a sign that selling looks risky. I also found a rising trendline and the oversold condition on the stochastic oscillator, which is another sign of strength. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.2880 and at the price of 1.2923.
Resistance levels:
R1: 1.2885
R2: 1.2923
R3: 1.2966
Support levels:
S1: 1.2840
S2: 1.2760
S3: 1.2723
Trading recommendations for today: watch for potential buying opportunities.
Fundamental Analysis of EUR/USD for August 27, 2018
2018-08-27
EUR/USD has been quite impulsive with bullish gains recently which lead the price to reside above 1.15 area with a daily close. Due to recent downbeat economic data from the US, EURO managed to gain certain momentum over USD which is expected to be quite short-lived.
EUR has been trading with a predictable dynamic which encouraged EUR to sustain its momentum in the process. Today, EUR has been quite strong in light of the fundamentals. German Ifo Business Climate index surged to 103.8 from the previous figure of 101.7 which was expected to be at 101.9. Moreover, this week German Retail Sales, Unemployment Rate, and Flash CPI reports are going to be published.
On the other hand, this week US Prelim GDP report is going to be published which is expected to show a slight decrease to 4.0% from the previous value of 4.1% and Unemployment Claims report which is expected to increase to 211k from the previous figure of 210k.
Meanwhile, in the last week of the month, the market is expected to be quite slow and indecisive whereas any negative outcome on the EUR's side is expected to empower USD gains in the coming days which can lead to a further downward move in the process. EUR has gained certain momentum today on the back of positive economic data, but it is not enough to push the price above the key resistances.
Now let us look at the technical view. The price is currently quite indecisive after the previous impulsive bullish momentum which lead the price towards the trend line resistance at 1.1650 area. The price has been also held by the Kumo Cloud resistance as well from where having confluence to push lower towards 1.1500 and later towards 1.1300 support area in the coming days. As the price remains below 1.17 area with a daily close, the bearish bias is expected to continue.
SUPPORT: 1.1500, 1.1300
RESISTANCE: 1.1650, 1.1700, 1.1850
BIAS: BEARISH
MOMENTUM: VOLATILE
Fundamental Analysis of USD/JPY for August 27, 2018
2018-08-27
USD/JPY is currently quite indecisive and volatile after breaking above 110.50 with a false break recently. Despite the recent downbeat economic reports from the US, certain gain on the USD side against JPY does indicate the weakness of JPY in the process.
Citing FED Chair Powell, the US central intends to continue monetary tightening, though at a gradual pace. Less hawkish stance of the US Fed left dollar bulls indecisive. Though President Trump is not quite happy about recent rate hikes, the FED is currently considering at least 3-4 rate hikes in the year ahead. This week US Prelim GDP report is going to be published which is expected to show a slight decrease to 4.0% from the previous value of 4.1% and Unemployment Claims report which is expected to increase to 211k from the previous figure of 210k.
On the JPY side, tomorrow BOJ Core CPI report is going to be published which is expected to decrease to 0.3% from the previous value of 0.4%. On Wednesday, Consumer Confidence report is going to be published which is expected to have a slight decrease to 43.4 from the previous figure of 43.5 and on Friday Unemployment Rate report is going to be published which is expected to be unchanged at 2.4%.
Meanwhile, certain volatility is expected in the pair this week which may lead to certain indecision in the market. Though a series of economic reports will be published but forecasts are mixed which might lead to further gains on the USD side leading to further gains in the pair. Ahead of the Prelim GDP report this week, USD may lead the path if better than expected results are published.
Now let us look at the technical view. The price is currently residing above 110.50 as well the dynamic level of 20 EMA. Though the price has been quite indecisive on Friday but having an impulsive bullish pressure following a strong False Break below 110.50 is expected to inject further bullish momentum in the process. As the price remains above 110.50 with a daily close, the bullish bias is expected to continue further with target towards 112.00 and later towards 113.00 in the coming days.
SUPPORT: 110.50
RESISTANCE: 112.00, 113.00
BIAS: BULLISH
MOMENTUM: VOLATILE
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