2018-09-14
EUR/JPY has rallied nicely and continues to confirm our bullish count and calls. The next upside target is seen near 132.20. This will likely cause some hesitation, but ultimately this sub-target should be broken for upside acceleration towards the next longer-term target at 136.50.
Support is now seen at 130.41. This support will ideally be able to protect the downside for the expected rally higher towards 132.20 and above. At no point should we see EUR/JPY move back below support at 129.77.
R3: 131.99
R2: 131.45
R1: 131.05
Pivot: 130.76
S1: 130.41
S2: 129.99
S3: 129.77
Trading recommendation:
We are long EUR from 129.11 and we will move our stop higher to 129.40. If you are not long EUR yet, then buy near 130.41 and use the same stop at 129.40.
Elliott wave analysis of EUR/NZD for September 14, 2018
2018-09-14
Red wave iv is working its way sideways to slightly down. We still think a dip to 1.7594 is possible, but be aware that all red wave iv needs to do is consolidate in a small sideways pattern before taking off higher again towards 1.8030 as the next sub-target on the way towards 1.8369.
Support is seen at 1.7683 and then again at 1.7594.
R3: 1.7954
R2: 1.7900
R1: 1.7825
Pivot: 1.7791
S1: 1.7755
S2: 1.7700
S3: 1.7683
Trading recommendation:
We continue to look for a possible EUR-buying opportunity near 1.7615.
Fundamental Analysis of USD/CHF for September 14, 2018
2018-09-14
USD/CHF has been quite impulsive with the recent bearish pressure which led the price to reside at the edge of 0.9550 to 0.9650 support area in the process. USD has been struggling for gains amid the recent soft economic data. On the other hand, CHF is unaffected by neutral data. Meanhwile, USD is extending weakness.
This week Switzerland's PPI report was published with a decrease to 0.0% as expected from the previous value of 0.1%. As the difference is not that significant, the bearish momentum was not quite hampered in this process.
On the other hand, USD has been performing quite worse amid downbeat macroeconomic reports like PPI and CPI which made a direct impact on the market sentiment, leading to certain bearish pressure in the pair. Today US Retail Sales report is going to be published which is expected to decrease to 0.4% from the previous value of 0.5% and Core Retail Sales is also expected to decrease to 0.5% from the previous value of 0.6%.
As for the current scenario, USD has been weighed down by recent soft reports. Besides, sour forecasts for the today's macroeconomic reports encourage further bearish pressure in the pair. If the US provides better than expected reports, certain volatility and counter momentum can be observed in this in for the coming days.
Now let us look at the technical view. The price has reached the support area of 0.9550 to 0.9650 area from where certain bullish momentum is expected with certain volatility in the market. Though the recent trend has been quite impulsive and bearish as well, certain counter momentum is expected from the support area which might be in form of retracement for further bearish momentum in the process. As the price remains below 0.9850 area, the bearish bias is expected to continue.
SUPPORT: 0.9550, 0.9650
RESISTANCE: 0.9850, 0.9950
BIAS: BEARISH
MOMENTUM: VOLATILE
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