Forecast and technical analysis EURUSD on April 12, 2016.

Tags: 

EUR/USD steady for eight consecutive day

Pair's Outlook
Since the first day of April the EUR/USD pair has been ending all trading sessions with no material change in its value, while the volume has been in a decline too. On Tuesday morning the conditions are similar, even though the cross is now hovering above 1.14. Thus, we keep our reasonably bullish bias and the mid-term caps should be found at 1.15 (October high). Daily technical indicators are positive as well. Any intraday losses, although they are less likely, will initially have to tackle the weekly pivot point at 1.1391.

Forecast and technical analysis GBPUSD on April 12, 2016.

Tags: 

GBP/USD risks falling back under 1.42

Pair's Outlook
The Sterling set off with a 125-pip rally against the Buck yesterday, unable to climb over the second tough resistance area. Technically, we should see the Cable bounce back under the 1.42 major level, with the weekly PP now acting as the nearest support at 1.4151. However, today's UK inflation data could provide sufficient impetus for the GBP/USD currency pair to at least partially pierce the immediate resistance, as the four-week down-trend at 1.4290 is expected to hold. Daily technical indicators are still unable to provide any clear sense of direction, whereas the longer timeframe ones still suggest the bearish momentum is to prevail.

Forecast and Technical Analysis of the Gold Futures on April 12, 2016

Tags: 

Gold sets ground for continuous recovery

Pair's Outlook
Monday trading was finished with sharp gains for gold, as the price closed above the first weekly resistance line at 1,257.50. However, the bulls failed to extend this rally up to the second supply area placed between 1,260 and 1,263. We expect it to happen this week, but we are not ruling out a correction lower on Tuesday after some traders fix profit. It will be more than enough to hold the price above yesterday's low/opening level of 1,239. Among additional bearish risks, the daily technical studies are still maintaining the "sell" view, but dense demand areas below 1,235 should prevent XAU/USD from deep collapses.

Forecast and technical analysis EURUSD on April 7, 2016.

Tags: 

Pair's Outlook
With mixed signals coming from the Federal Reserve, the EUR/USD currency pair continued to trade sideways on Wednesday. Intraday losses were extending down to the weekly pivot point at 1.1326, but the bulls returned the pair back to the 1.14 zone. Therefore, we have got four consecutive days with changes of less than 20 pips. The medium-term primary objective for the longs is still represented by the October peak and weekly R1 at 1.15. Alongside, the second testing of the weekly PP must be successful in order to affirm any serious bearish intentions.

Forecast and technical analysis GBPUSD on April 7, 2016.

Tags: 

Pair's Outlook
Fears of a ‘Brexit' kept weighing on the British Pound on Wednesday, but a rather dovish FOMC statement helped the Cable to erase most of intraday losses. As a result, the GBP/USD pair remained above the 1.41 major level. The Sterling is now expected to undergo a correction, but the exchange rate will doubtfully reach the immediate resistance at 1.4270, represented by the monthly and the weekly PPs, the 20 and the 55-day SMAs. Meanwhile, technical indicators retain mixed signals, suggesting that the pair could prolong its bearish trend and fall under the 1.41 mark, with the closest level to limit the losses being the weekly S1 at 1.4082.

Forecast and Technical Analysis of the Gold Futures on April 7, 2016

Tags: 

Pair's Outlook
As long as yellow metal continues to ignore a very important technical cluster at 1,224/30, we are going to maintain a mostly sideways outlook for prices. We have not seen a two-day consolidation below the weekly pivot point or above the 20-day SMA since March 22. Another mixed picture emerged for technical indicators, as daily ones are bearish and weekly studies are pointing to the North. However, quite soon the bullion is expected to meet the upward-sloping 55-day SMA (1,211), and if this line fails at provoking a rally, then downside risks will inevitably grow.

Forecast and technical analysis EURUSD on April 6, 2016.

Tags: 

Pair's Outlook
Yesterday the bears tried to take leadership over the EUR/USD currency pair, but all losses were ultimately eroded by revived bullish strength. Therefore, the cross keeps hovering around the February high at 1.1370, while getting ready for the release of FOMC meeting minutes later on Wednesday. A more hawkish surprise here will likely provoke a downshift in prices to the weekly pivot point at 1.1326, which is acting as the first immediate support line. However, aggregate daily technical studies are bullish and we are still not ruling out a spike towards the 1.15 area (Oct high; weekly R1).

Pages

Subscribe to Currency Exchange RSS