2018-08-28
Overview:
Pivot: 0.9790.
The USD/CHF pair fell sharply from the level of 0.9815 towards 0.9764. Now, the price is set at 0.9770. The resistance is seen at the level of 0.9815 and 0.9847. Moreover, the price area of 0.9815/0.9847 remains a significant resistance zone.
Therefore, there is a possibility that the USD/CHF pair will move downside and the structure of a fall does not look corrective. The trend is still below the 100 EMA for that the bearish outlook remains the same as long as the 100 EMA is headed to the downside.
Thus, amid the previous events, the price is still moving between the levels of 0.9790 and 0.9719. If the USD/CHF pair fails to break through the pivot point level of 0.9790, the market will decline further to 0.9719 as as the first target.
This would suggest a bearish market because the RSI indicator is still in a negative spot and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 0.9686 in order to test the daily support 3. On the contrary, if a breakout takes place at the resistance level of 0.9847, then this scenario may become invalidated.
EUR/USD analysis for August 28, 2018
2018-08-28
Recently, the EUR/USD pair has been trading upwards. As I expected, the price tested the level of 1.1699. According to the M30 time – frame, I found that buyers are in control and that price is trading above the daily pivot (1.1654), which is a sign that selling looks risky. I also found a broken intraday bullish flag pattern and hidden bullish divergence 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 1.1715 and at the price of 1.1750.
Resistance levels:
R1: 1.1715
R2: 1.1750
R3: 1.1814
Support levels:
S1: 1.1615
S2: 1.1555
S3: 1.1517
Trading recommendations for today: watch for potential buying opportunities.
Technical analysis of EUR/USD for August 28, 2018
2018-08-28
Pivot: 0.9790.
The USD/CHF pair fell sharply from the level of 0.9815 towards 0.9764. Now, the price is set at 0.9770. The resistance is seen at the level of 0.9815 and 0.9847. Moreover, the price area of 0.9815/0.9847 remains a significant resistance zone.
Therefore, there is a possibility that the USD/CHF pair will move downside and the structure of a fall does not look corrective. The trend is still below the 100 EMA for that the bearish outlook remains the same as long as the 100 EMA is headed to the downside.
Thus, amid the previous events, the price is still moving between the levels of 0.9790 and 0.9719. If the USD/CHF pair fails to break through the pivot point level of 0.9790, the market will decline further to 0.9719 as as the first target.
This would suggest a bearish market because the RSI indicator is still in a negative spot and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 0.9686 in order to test the daily support 3. On the contrary, if a breakout takes place at the resistance level of 0.9847, then this scenario may become invalidated.
EUR/USD analysis for August 28, 2018
2018-08-28
Recently, the EUR/USD pair has been trading upwards. As I expected, the price tested the level of 1.1699. According to the M30 time – frame, I found that buyers are in control and that price is trading above the daily pivot (1.1654), which is a sign that selling looks risky. I also found a broken intraday bullish flag pattern and hidden bullish divergence 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 1.1715 and at the price of 1.1750.
Resistance levels:
R1: 1.1715
R2: 1.1750
R3: 1.1814
Support levels:
S1: 1.1615
S2: 1.1555
S3: 1.1517
Trading recommendations for today: watch for potential buying opportunities.
Technical analysis of EUR/USD for August 28, 2018
2018-08-28
Overview:
The EUR/USD pair will continue to rise from the level of 1.1612. The support is found at the level of 1.1612, which represents the 78.6% Fibonacci retracement level in the H1 time frame.
The price is likely to form a double bottom. Today, the major support is seen at 1.1612, while immediate resistance is seen at 1.1697. Accordingly, the EUR/USD pair is showing signs of strength following a breakout of a high at 1.1697. So, buy at the level of 1.1697 with the first target at 1.1782 in order to test the daily resistance 1 and move further to 1.1865.
Also, the level of 1.1865 is a good place to take profit because it will form a new double top. Amid the previous events, the pair is still in an uptrend; for that we expect the EUR/USD pair to climb from 1.1697 to 1.1865 today. At the same time, in case a reversal takes place and the EUR/USD pair breaks through the support level of 1.1612, a further decline to 1.1500 can occur, which would indicate a bearish market.
Analysis of Gold for August 28, 2018
2018-08-28
Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,213.25. According to the M30 time – frame, I found that buyers are in control and that price is trading above the daily pivot ($1,208.50), which is a sign that selling looks risky. I also found a rising channel and the price is trading near the median line. My advice is to watch for buying opportunities. The upward targets are set at the price of $1,217.65 and at the price of $1,223.10.
Resistance levels:
R1: $1,214.25
R2: $1,217.65
R3: $1,223.10
Support levels:
S1: $1,205.06
S2: $1,199.30
S3: $1,195.85
Trading recommendations for today: watch for potential buying opportunities.
Intraday technical levels and trading recommendations for EUR/USD for August 28, 2018
2018-08-28
In April 2018, the EUR/USD pair outlook turned to become bearish when the pair pursued trading below the lower limit of the depicted consolidation range (1.2200).
The price level of 1.1500 offered temporary bullish recovery towards 1.1830. The EUR/USD bulls failed to pursue towards higher bullish targets. Instead, a descending high was established around 1.1800.
On the weekly chart, the EUR/USD pair tested the price zone of 1.1400-1.1300 where the depicted trend lines were located on the chart.
On August 10, temporary bearish closure below 1.1400 was achieved. This allowed further bearish decline towards 1.1300 where evident bullish recovery was demonstrated.
This week, the current bullish pullback is persisting above 1.1520, the bearish scenario would be hindered for the short-term. Further bullish advancement should be expected towards 1.1750.
Conservative traders should be watching the next price zone (1.1750-1.1850) for evident bearish rejection and a valid SELL entry. Initial Bearish targets would be located at 1.1550 and 1.1420.
On the other hand, For the weekly Head & Shoulders reversal pattern to be confirmed, the EUR/USD pair needs obvious bearish persistence below 1.1400.
Fundamental Analysis of GBP/USD for August 28, 2018
2018-08-28
GBP/USD has been quite volatile and indecisive recently which led the price to reside above 1.2850. This is expected to lead to further bullish momentum. Earlier, GBP has been dominated consistently by USD which is currently facing bullish pressures in the pair.
Recently while USD has been struggling on the back of sour economic reports, GBP has been quite stable and firm amid fundamentals which led to certain gains on the GBP side currently. This week on Thursday, the UK M4 Money Supply report is going to be published which is expected to increase to 0.2% from the previous value of -0.3%, Mortgage Approvals are expected to slightly decrease to 65k from the previous figure of 66k, and Net Lending to Individuals are expected to increase to 5.5B from the previous figure of 5.4B.
On the other hand, today US Goods Trade Balance report is going to be published which is expected to decrease to -68.6B from the previous figure of -67.9B, Prelim Wholesale Inventories report is expected to be unchanged at 0.1%, S&P/CS Composite-20 HPI report is expected to decrease to 6.4% from the previous value of 6.5%, and CB Consumer Confidence report is also expected to decrease to 126.6 from the previous figure of 127.4. Ahead of the Prelim GDP report which is due tomorrow with an expectation of a decrease to 4.0% from the previous value of 4.1%, USD is currently quite soft.
Meanwhile, GBP is currently quite optimistic ahead of the upcoming economic reports whereas USD is expected to struggle further amid downbeat forecasts for the upcoming economic reports. Though USD used to be the dominant currency, GBP is expected to regain its momentum if it manages to perform better or as expected.
Now let us look at the technical view. The price has been quite bullish with the recent momentum which led the price to reside above 1.2850 with a daily close. Though the dynamic level is still trying to hold the price lower which lead to certain indecision in the pair. As the price remains above 1.2850 with a daily close, it is expected to push higher with target towards 1.3050 and later towards 1.3200 area. On the other hand, if the price pushes back below 1.2850 again then the bearish trend pressure is expected to continue again with strong momentum with a target towards 1.2550 in the future.
SUPPORT: 1.2850, 1.2550
RESISTANCE: 1.3050, 1.3200
BIAS: BEARISH
MOMENTUM: VOLATILE
NZD/USD Intraday technical levels and trading recommendations for August 28, 2018
2018-08-28
Bearish breakdown of 0.7220-0.7170 (lower limit of the consolidation range) allowed quick bearish decline towards 0.6700-0.6800 where narrow ranged consolidation range was established.
On July 7, evident bullish rejection pushed the NZD/USD pair above 0.6820 temporarily.
However, lack of bullish momentum made the bulls fail to maintain enough bullish momentum above 0.6700.
On August 9, a bearish breakout below the depicted consolidation range (0.6700-0.6840) was executed. This allowed the recent bearish decline to occur towards 0.6600-0.6570.
The NZD/USD pair outlook turned to be bearish. Bearish targets are projected towards the price levels of 0.6520 and 0.6480.
Recently, early signs of bullish recovery were manifested around the recent low around 0.6550. This allowed the current bullish pullback to occur.
Conservative traders should wait for deeper bullish pullback towards 0.6750 for a low-risk SELL entry. S/L should be placed above 0.6850 while T/P levels should be located at 0.6620 and 0.6550.
The EUR/USD pair will continue to rise from the level of 1.1612. The support is found at the level of 1.1612, which represents the 78.6% Fibonacci retracement level in the H1 time frame.
The price is likely to form a double bottom. Today, the major support is seen at 1.1612, while immediate resistance is seen at 1.1697. Accordingly, the EUR/USD pair is showing signs of strength following a breakout of a high at 1.1697. So, buy at the level of 1.1697 with the first target at 1.1782 in order to test the daily resistance 1 and move further to 1.1865.
Also, the level of 1.1865 is a good place to take profit because it will form a new double top. Amid the previous events, the pair is still in an uptrend; for that we expect the EUR/USD pair to climb from 1.1697 to 1.1865 today. At the same time, in case a reversal takes place and the EUR/USD pair breaks through the support level of 1.1612, a further decline to 1.1500 can occur, which would indicate a bearish market.
Analysis of Gold for August 28, 2018
2018-08-28
Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,213.25. According to the M30 time – frame, I found that buyers are in control and that price is trading above the daily pivot ($1,208.50), which is a sign that selling looks risky. I also found a rising channel and the price is trading near the median line. My advice is to watch for buying opportunities. The upward targets are set at the price of $1,217.65 and at the price of $1,223.10.
Resistance levels:
R1: $1,214.25
R2: $1,217.65
R3: $1,223.10
Support levels:
S1: $1,205.06
S2: $1,199.30
S3: $1,195.85
Trading recommendations for today: watch for potential buying opportunities.
Intraday technical levels and trading recommendations for EUR/USD for August 28, 2018
2018-08-28
In April 2018, the EUR/USD pair outlook turned to become bearish when the pair pursued trading below the lower limit of the depicted consolidation range (1.2200).
The price level of 1.1500 offered temporary bullish recovery towards 1.1830. The EUR/USD bulls failed to pursue towards higher bullish targets. Instead, a descending high was established around 1.1800.
On the weekly chart, the EUR/USD pair tested the price zone of 1.1400-1.1300 where the depicted trend lines were located on the chart.
On August 10, temporary bearish closure below 1.1400 was achieved. This allowed further bearish decline towards 1.1300 where evident bullish recovery was demonstrated.
This week, the current bullish pullback is persisting above 1.1520, the bearish scenario would be hindered for the short-term. Further bullish advancement should be expected towards 1.1750.
Conservative traders should be watching the next price zone (1.1750-1.1850) for evident bearish rejection and a valid SELL entry. Initial Bearish targets would be located at 1.1550 and 1.1420.
On the other hand, For the weekly Head & Shoulders reversal pattern to be confirmed, the EUR/USD pair needs obvious bearish persistence below 1.1400.
Fundamental Analysis of GBP/USD for August 28, 2018
2018-08-28
GBP/USD has been quite volatile and indecisive recently which led the price to reside above 1.2850. This is expected to lead to further bullish momentum. Earlier, GBP has been dominated consistently by USD which is currently facing bullish pressures in the pair.
Recently while USD has been struggling on the back of sour economic reports, GBP has been quite stable and firm amid fundamentals which led to certain gains on the GBP side currently. This week on Thursday, the UK M4 Money Supply report is going to be published which is expected to increase to 0.2% from the previous value of -0.3%, Mortgage Approvals are expected to slightly decrease to 65k from the previous figure of 66k, and Net Lending to Individuals are expected to increase to 5.5B from the previous figure of 5.4B.
On the other hand, today US Goods Trade Balance report is going to be published which is expected to decrease to -68.6B from the previous figure of -67.9B, Prelim Wholesale Inventories report is expected to be unchanged at 0.1%, S&P/CS Composite-20 HPI report is expected to decrease to 6.4% from the previous value of 6.5%, and CB Consumer Confidence report is also expected to decrease to 126.6 from the previous figure of 127.4. Ahead of the Prelim GDP report which is due tomorrow with an expectation of a decrease to 4.0% from the previous value of 4.1%, USD is currently quite soft.
Meanwhile, GBP is currently quite optimistic ahead of the upcoming economic reports whereas USD is expected to struggle further amid downbeat forecasts for the upcoming economic reports. Though USD used to be the dominant currency, GBP is expected to regain its momentum if it manages to perform better or as expected.
Now let us look at the technical view. The price has been quite bullish with the recent momentum which led the price to reside above 1.2850 with a daily close. Though the dynamic level is still trying to hold the price lower which lead to certain indecision in the pair. As the price remains above 1.2850 with a daily close, it is expected to push higher with target towards 1.3050 and later towards 1.3200 area. On the other hand, if the price pushes back below 1.2850 again then the bearish trend pressure is expected to continue again with strong momentum with a target towards 1.2550 in the future.
SUPPORT: 1.2850, 1.2550
RESISTANCE: 1.3050, 1.3200
BIAS: BEARISH
MOMENTUM: VOLATILE
NZD/USD Intraday technical levels and trading recommendations for August 28, 2018
2018-08-28
Bearish breakdown of 0.7220-0.7170 (lower limit of the consolidation range) allowed quick bearish decline towards 0.6700-0.6800 where narrow ranged consolidation range was established.
On July 7, evident bullish rejection pushed the NZD/USD pair above 0.6820 temporarily.
However, lack of bullish momentum made the bulls fail to maintain enough bullish momentum above 0.6700.
On August 9, a bearish breakout below the depicted consolidation range (0.6700-0.6840) was executed. This allowed the recent bearish decline to occur towards 0.6600-0.6570.
The NZD/USD pair outlook turned to be bearish. Bearish targets are projected towards the price levels of 0.6520 and 0.6480.
Recently, early signs of bullish recovery were manifested around the recent low around 0.6550. This allowed the current bullish pullback to occur.
Conservative traders should wait for deeper bullish pullback towards 0.6750 for a low-risk SELL entry. S/L should be placed above 0.6850 while T/P levels should be located at 0.6620 and 0.6550.
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