2018-09-06
In Asia, today, Japan will not release any Economic Data, but the US will release some Economic Data such as Crude Oil Inventories, Natural Gas Storage, Factory Orders m/m, ISM Non-Manufacturing PMI, Final Services PMI, Unemployment Claims, Revised Unit Labor Costs q/q, Revised Non-farm Productivity q/q, ADP Non-Farm Employment Change, and Challenger Job Cuts y/y. 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: 111.12. Support. 2: 110.90. 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, Sept 07, 2018
2018-09-06
TODAY'S TECHNICAL LEVEL: Resistance. 3: 111.82. Resistance. 2: 111.60. Resistance. 1: 111.38. Support. 1: 111.12. Support. 2: 110.90. 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, Sept 07, 2018
2018-09-06
When the European market opens, some Economic Data will be released such as French 10-y Bond Auction, Spanish 10-y Bond Auction, and German Factory Orders m/m. The US will release the Economic Data too such as Crude Oil Inventories, Natural Gas Storage, Factory Orders m/m, ISM Non-Manufacturing PMI, Final Services PMI, Unemployment Claims, Revised Unit Labor Costs q/q, Revised Non-farm Productivity q/q, ADP Non-Farm Employment Change, and Challenger Job Cuts y/y, so amid the reports, EUR/USD will move in a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL: Breakout BUY Level: 1.1691. Strong Resistance:1.1684. Original Resistance: 1.1673. Inner Sell Area: 1.1662. Target Inner Area: 1.1634. Inner Buy Area: 1.1606. Original Support: 1.1595. Strong Support: 1.1584. Breakout SELL Level: 1.1577.
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 on EUR/USD for September 6, 2018
2018-09-06
EUR/USD bounced off short-term support at 1.15 as expected. However bulls will only feel comfortable on a break above 1.17-1.1730. Until then there is still danger for another leg down towards 1.1450-1.14.
TODAY'S TECHNICAL LEVEL: Breakout BUY Level: 1.1691. Strong Resistance:1.1684. Original Resistance: 1.1673. Inner Sell Area: 1.1662. Target Inner Area: 1.1634. Inner Buy Area: 1.1606. Original Support: 1.1595. Strong Support: 1.1584. Breakout SELL Level: 1.1577.
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 on EUR/USD for September 6, 2018
2018-09-06
EUR/USD bounced off short-term support at 1.15 as expected. However bulls will only feel comfortable on a break above 1.17-1.1730. Until then there is still danger for another leg down towards 1.1450-1.14.
Orange rectangle - resistance
Blue lines - expected price path
EUR/USD has retraced almost 50% of the rise and is most probably forming a Head and Shoulders pattern and is now at the top of the right shoulder. A rejection at the orange resistance area of 1.1660-1.1680 will open the way for a move towards the 61.8% Fibonacci retracement support and why not lower if we consider the Head and shoulder pattern. This could mean even a double bottom around 1.13. However I expect this decline not to last long and prices to reverse back to the upside. Any break above 1.17-1.1730 should be seen as a very bullish sign for the pair and we should expect to see upside targets between 1.19-1.22.
Blue lines - expected price path
EUR/USD has retraced almost 50% of the rise and is most probably forming a Head and Shoulders pattern and is now at the top of the right shoulder. A rejection at the orange resistance area of 1.1660-1.1680 will open the way for a move towards the 61.8% Fibonacci retracement support and why not lower if we consider the Head and shoulder pattern. This could mean even a double bottom around 1.13. However I expect this decline not to last long and prices to reverse back to the upside. Any break above 1.17-1.1730 should be seen as a very bullish sign for the pair and we should expect to see upside targets between 1.19-1.22.
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