Outlook in GBPUSD remains neutral this week , support comes at the 1.6551 levels , a halt is likely , losing this level would open 1.6458 next , further downside will aim the 1.6382 levels . At this point I’d expect strong support from the 1.6382 levels to contain fall from the 1.6821 levels and bring rally resumption , sustained trading – weekly closing – below the 1.6382 will open 1.6132/1.6050 levels….
On the upside , resistance comes at the 1.6683 levels ,sustained trading above…Continue
Added by Haitham653 on April 7, 2014 at 5:35am — No Comments
GBPUSD found the support last week and recovered nicely above the upper trend line of a downward channel. A reversal from the low can be counted in five waves on the intraday charts, so we suspect that trend has changed and that pound will continue to the upside, especially after a corrective retracement back to 1.6550/70 that could unfold in the next few sessions.
GBPUSD 4h Elliott Wave Analysis…
Added by Gregor Horvat on April 1, 2014 at 10:16am — No Comments
"EURUSD: The pair itself was net sold, but flows through the euro overall
were finely balanced. Hedge fund sellers ran into corporates on the bid.
USDJPY, EURJPY: The yen was net sold in aggregate, but USDJPY flows were
USDCHF, EURCHF: The Swiss franc was net bought, both through EURCHF and
USDCHF. Turnover was only 82% of normal though, and hedge fund…
Added by Daologic on April 1, 2014 at 5:29am — No Comments
“The essence of discipline is that there are no exceptions.” – Jack Schwager, author.
April 1st 2014 – Welcome to Q2 and to April fool’s Day. The 1.3875 level is now resistance on EURUSD, not kidding! After the failure of the breakout through key multi-year technical…Continue
The GBPUSD maintained a bullish momentum last week , bottomed at the 1.6475 levels and topped the 1.6650 levels , note that the pair rebounded strongly above the key support 1.6382 as suggested few weeks ago . As a result , outlook in GBPUSD returns - cautiously - to the upside -, a clear break above the 1.6650 levels will confirm bottoming at the 1.6475 levels , If seen , the pair will recapture the 1.6754 levels , sustained trading above the 1.6754 levels will open 1.6821 levels ahead of…Continue
The rally into a historic ‘sell’ zone (previous highs, retracements and measured moves) of 1.6450-1.7050 has encountered weekly momentum divergence and so near-term pullbacks need to be closely monitored.
Dips below 1.6425 could trigger a series of deeper retracements of the rally seen off last year’s 1.4815…
Added by Daologic on March 28, 2014 at 6:04am — No Comments
GBPUSD found some support in this week and recovered for a few pips above the upper trend line of a downward channel. We however need a decisive break higher and impulsive extension above 1.6654 key level that will confirm a bullish continuation. So if price will stay bullish for another 24 hours and exceed 1.6654 then long trading opportunity could be interesting.
GBPUSD 4h Elliott Wave Analysis…
Added by Gregor Horvat on March 27, 2014 at 9:00am — No Comments
With both the trending and momentum indicators below their respective
moving averages, there’s scope for more downside, with supports at
1.3722 and 1.3664. Resistance is at 1.3858 ahead of 1.3967.
USDJPY NEUTRAL Near-term resistance is at 102.79, a break above this would open 103.76.
Support is at 101.20, a break below this would expose 100.76.
Having tested this morning the support…
Added by Daologic on March 24, 2014 at 9:47am — No Comments
"1. Strong US data now will lead to sharp dollar rallies
The dollar is primed for a major rally following this month's Federal Open Market Committee meeting. The FOMC met expectations by cutting the Fed's pace of asset purchases by another $10bn to $55bn a month. But policymakers surprised on several other counts.
First, the FOMC dropped its forward guidance linking future interest rate hikes to specific levels of unemployment. The guidance had become increasingly irrelevant as…Continue
Added by Daologic on March 24, 2014 at 8:00am — No Comments
The GBPUSD continued its bearish momentum last week , topped at the 1.6665 levels, bottomed at the 1.6475 levels , and closed below the key support 1.6582 at the 1.6485 levels.
This development turns outlook in GBPUSD from bullish to neutral for retesting main support on weekly at the 1.6382 levels , stability below the 1.6475 will build pressure on the 1.6382 levels . At this point I’d expect strong support from the 1.6382 levels to contain fall from the 1.6821 levels , and bring…Continue
Added by Haitham653 on March 24, 2014 at 6:42am — No Comments
Added by Daologic on March 18, 2014 at 12:09pm — No Comments
The markets did not move much during Asian session, but we can see some volume coming in, especially on GBPUSD which is down more than 40 pips in the last 30minutes. In fact, I can see nice five waves down followed by three waves up on hourly chart. Pair is now testing the lower side of a channel where breakout will put new lows back in play. Looking lower as long as 1.6710 is not breached.
GBPUSD 1h Elliott Wave Analysis…
Added by Gregor Horvat on March 18, 2014 at 8:10am — No Comments
Added by Daologic on March 17, 2014 at 8:30am — No Comments
With bullish conditions in place, there’s more upside potential to test the
critical resistance at 1.4052. Any setbacks in the interim will be corrective
and limited to support at 1.3834 and then 1.3780.
USDJPY NEUTRAL The latest decline was staged from the important resistance at 103.65.
Support is at 101.20 ahead of 100.76. Near-term resistance is at 102.18.
GBPUSD BULLISH The recent setback doesn’t…
Added by Daologic on March 17, 2014 at 7:46am — No Comments
"Trading Summary | While the air above is thinning, we hold to our long EUR/USD tactical view. GBP/USD has more upside and this may pressure EUR/GBP lower. European currencies remain favoured over Asia FX as investors chase risk adjusted carry returns in a vol crushed world. Stay with long GBP/JPY as the BoE falls further behind in the Race Not to Tighten First. USD/CAD to trade lower initially as spot catches up with rate spreads.…Continue
Despite hesitation last week , outlook in GBPUSD remains on the upside as long as 1.6582 holds on a weekly closing basis , resistance comes at the 1.6767 levels , sustained trading – weekly closing – above the 1.6767 levels in needed to resume the upside offensive , If seen ,the pair will target the 1.6900 levels where a breach will turn focus on the 1.7000/1.7100 levels , further out will aim the 1.7300 levels.
On the downside , stability below the 1.6767 levels could mean a return…Continue
GBPUSD; triangle placed in wave (iv) suggest that move to the lows was final within a five wave decline from 1.6783. We also can see a divergence between waves (iii) and waves (v) so rally can be seen in sessions ahead. Break of 1.6634 will confirm a completed leg, maybe even of a wave C of a three wave retracement from Feb 17th high, so we should be aware of a bullish reversal in that instance.
GBPUSD 1h Elliott Wave Analysis…
Added by Gregor Horvat on March 12, 2014 at 2:11pm — No Comments
The GBPUSD continued its bearish correction yesterday , topped at the 1.6652 levels and bottomed at the 1.6595 levels . Now pressure will be on the key support 1.6595…
The GBPUSD will have to hold below the 1.6595 levels on a daily closing basis to push the market for further downside losses , If seen It will target the 1.6540 levels , a halt is strongly suggested and the pair might revere to the upside from that point , If 1.6540 fails on a daily basis , expect the market to weaken…Continue
Added by Haitham653 on March 12, 2014 at 8:31am — No Comments
Any setbacks will be viewed as corrective and limited, with supports at
1.3812 and 1.3708. Resistance is at 1.3915, a break above this would
extend the strength to 1.4052.
The important resistance at 103.65 was tested on Friday and a close above
this will be positive, opening the way to 105.44. Support is at 102.48
ahead of 101.20.
GBPUSD BULLISH The recent setback doesn’t change…
Added by Daologic on March 12, 2014 at 6:56am — No Comments
"Minors Attract Inflows
Flows: Reaching for yield
We were net buyers of AUD and NZD last week - the former due to a sudden improvement in domestic economic data, the latter on the likelihood of an imminent RBNZ rate hike. Buying pressure was also seen in sterling and the Nordics, while the Swiss franc suffered the worst of the outflows. In the EM space, the Singapore dollar came under the strongest selling pressure,…
Added by Daologic on March 11, 2014 at 10:00am — No Comments