GOLD: Threatens Further Downside
GOLD: With GOLD continuing to maintain its downside bias, further decline continues to be envisaged. But corrective recovery risk may occur. Support lies at the 1,289.36 level where a break will pave the way for a run at the 1,277.58 level. A turn below here will shift focus to the 1,250.00 level followed by the 1,230.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance is seen at the 1,318.30 level…Continue
Added by fxtech on April 18, 2014 at 4:51pm — No Comments
Currently we are at 1.4219 in a channel. We are looking for a bullish continuation to the Wave 1 R5 @ 1.4851 and maybe Wave 3 R4 @ 1.4869. The average daily true range (ATR) for the pair currently is 83 pips.…Continue
Added by Scott Barkley on April 18, 2014 at 12:37pm — No Comments
Libya’s central bank has dismissed as baseless recent rumours that the country is facing dollar shortages due to a loss of oil revenues, a bank official said yesterday.
The North African country has been struggling for nine months with disruptions in its key oil industry due to protests at oilfield and ports across the desert nation. The central bank has said it has dollar reserves worth more than $115bn.
Musbah Al Akari, head of the central bank’s markets department,…
Mostly banks are closed in observance of 'GOOD FRIDAY'. in currency market, low volatility is experienced. We will start trade again on Monday......
Added by Usman Ali on April 18, 2014 at 5:29am — No Comments
DAILY ACCURATE KEY LEVES BY SPIDERMAN
EURUSD 1.3814 ,
Added by Spider-man on April 18, 2014 at 1:31am — No Comments
The GBP/USD exploded higher yesterday following the bullish pin bar that we discussed in our market commentary on Tuesday. Today we get a counter-trend bearish pin bar from key resistance so now would probably be a good time to consider taking profit or moving stop-losses to break-even to avoid being caught out by a sell-off. This signal, though, is by no means a sell signal as the trend is still well and truly to the upside.…Continue
Added by Lewis Barber on April 17, 2014 at 9:21pm — No Comments
Factory production in the mid-Atlantic region expanded in April at the fastest pace in seven months, but across the Delaware River in the New York Fed growth slowed to its lowest level since last November.
The Philadelphia Fed Business outlook Index came in at 16.6 well above the 10.0 forecast and almost doubling March's 9.0 reading. The Philadelphia Federal Reserve region comprises the eastern two thirds of Pennsylvania, Delaware and Southern New Jersey.
In New York the story…Continue
Added by Joseph Trevisani on April 17, 2014 at 7:35pm — No Comments
Added by gregorian on April 17, 2014 at 6:57pm — No Comments
GBPUSD: GBP remains bullish strengthening further on Wednesday and targeting further upside. Though seen strengthening during early trading today, it requires a break and hold above the 1.6819/22 level to create scope for more gains. The pair needs to decisively break and hold above here to trigger further bullish offensive towards the 1.6877 level. Further out, resistance resides at the 1.6900 level where a break will aim at the 16950 level and then its big psycho level at the…Continue
Added by fxtech on April 17, 2014 at 12:25pm — No Comments
"Technically, USDCAD looks to us like it “wants” to trade higher but is lacking incentives at the moment. Short-term trend momentum is positive, keeping USDCAD pinned up against short-term resistance in the 1.1020 area. A break above 1.1020 should see spot rally to 1.1070 or so fairly easily (the 40-day MA comes in at 1.1065). A high close for USDCAD…Continue
Added by Daologic on April 17, 2014 at 11:30am — No Comments
EUR/USD has moved higher on Thursday, as the euro continues to take advantage of dovish comments by Fed chair Janet Yellen on Wednesday. The pair is trading in the mid-1.3860 in the European session. Today’s sole Eurozone release, German PPI, declined last month, as Eurozone inflation indicators remain weak. In the US, we’ll get a look at Unemployment Claims and the Philly Fed Manufacturing Index later in the…Continue
Added by Yohay Elam on April 17, 2014 at 10:43am — No Comments
"(...) Short-term cyclical vs long-term structural:
The markets' fixation with the UK's positive short-term data flow risks overlooking the still substantial structural imbalances in the UK economy: a bloated current account deficit (averaging 3.1% of GDP over the past four years despite subdued domestic demand), among the worst fiscal metrics in the developed world (a structural budget deficit of 4.5% this year – only Japan's is…Continue
Added by Daologic on April 17, 2014 at 9:28am — No Comments
USDJPY has turned nicely down at the start of the year from 105.50. A decline can be counted in five waves, so we think that this is first leg of minimum three waves bearish structure. Therefore we are looking for more weakness now as corrective rally from 100.70 appears completed after recent fall to the lower side of a trading channel. Break-down is in view it seems, so traders should be aware of move through 100.72 and possibly to 99.00 area.
USDJPY Daily Elliott Wave…
Added by Gregor Horvat on April 17, 2014 at 8:21am — No Comments
USDJPY hit our target of 102.35/40 & topped exactly here as predicted. The pair have sunk back to support at 102.00/95 but below here look for a buying opportunity at 101.40/30. Just bear in mind with the daily chart oversold, we have lots more support with March lows at 101.25/20 & 10 month trend line support at 101.10.
Above 102.05 is more positive again & targets 102.17/19 then a retest of resistance at 102.35/40. Again a high for the day is possible but be ready to go…Continue
Added by Jason Sen on April 17, 2014 at 7:40am — No Comments
Sterling has broken the high of 16th February, 2014 and near to test 1.6880, the high of 15th November 2009. Strong bullish sentiments are founded near the 1.6795. GBP become strong 23% against US dollar.
Technically this pair is in a bullish trend but a little dip is expected due to the divergence in h4 graph. So buy this pair on a little dip. The SMA100 and 200 are indicating a strong bullish trend in h1 as well as in h4 graph. Ichimoku cloud is also…