Beiträge von AmContent

GBPUSD Technical Analytics Awaiting pullback from 1.2687 After the break in 1.2530 fromal resitance, the price had a decent correction above the said level. It gave a wonderful opportuntyu for the bulls to go long with risk of getting stopped at 1.2450. We are awaiting the market to get closer to 1.2687 sealing before further technical analytics. Please note that the Stochastic indicator is in its overbought zone.

Thursday, July 9th Market orientation: Long Daily key Resistance: 1.2687 Daily key support: 1.2530 Awaiting pullback from 1.2687 The GBPUSD had a decent technical correction above the 1.2530 resistance level. It gave the unique opportunity to the bulls to go Long with the risk at 1.2450 area. Please note that the Stochastic indicator is in its overbought zone. Therefore, we are awaiting the market to get closer to 1.2687 to form a pattern before further technical analytics.

Thursday, July 9th Market orientation: Long Daily key Resistance: 1.2687 Daily key support: 1.2530 Awaiting pullback from 1.2687 The GBPUSD had a decent technical correction above the 1.2530 resistance level. It gave the unique opportunity to the bulls to go Long with the risk at 1.2450 area. Please note that the Stochastic indicator is in its overbought zone. Therefore, we are awaiting the market to get closer to 1.2687 to form a pattern before further technical analytics.

Wednesday, July 8, 2020 NZD/USD Technical Analysis Key Information Trend Orientation in Long term: Range Trend Orientation in Short term: Sell Daily fluctuation range: 0.6380 - 0.6585 Key resistance: 0.6585 Key Support: 0.6380 NZD bounced after it hit the 0.6585 sealing on July 6. The market has infiltrated the fragile support at 0.6532 on July 8, and the price correction is being happened clung to the said level. We are considering the 0.6532 minor support is no longer valid. With the risk of getting stopped by the bulls at 0.6585 - 0.6600, we expect a further market decline in the following Fibo decks. Level 0.382 at 0.6506 Level 0.5 at 0.6483 Level 0.618 at 0.6460 On the other hand, a robust breach in the 0.6585 sealing would indicate the ongoing side movement since June 8 is over, and the upside movement continues.

Wednesday, July 8, 2020 NZD/USD Technical Analysis Key Information Trend Orientation in Long term: Range Trend Orientation in Short term: Sell Daily fluctuation range: 0.6380 - 0.6585 Key resistance: 0.6585 Key Support: 0.6380 NZD bounced after it hit the 0.6585 sealing on July 6. The market has infiltrated the fragile support at 0.6532 on July 8, and the price correction is being happened clung to the said level. We are considering the 0.6532 minor support is no longer valid. With the risk of getting stopped by the bulls at 0.6585 - 0.6600, we expect a further market decline in the following Fibo decks. Level 0.382 at 0.6506 Level 0.5 at 0.6483 Level 0.618 at 0.6460 On the other hand, a robust breach in the 0.6585 sealing would indicate the ongoing side movement since June 8 is over, and the upside movement continues.

Tuesday, July 6, 2020 Trend orientation: Bullish Daily Key resistance: 1.1350 Daily key support: 1.1167 Trading range: 1.1167 - 1.1142 EURUSD had a pullback from 1.1350 resistance and tested the 1.1300 minor support. The mentioned level has been infiltrated, and the market is fluctuating above the downtrend channel from June 10. Stronger Scenario: Buyers are expecting the market to surge, and kill the 1.1350 resistance as its next errand. Weaker Scenario: As far as 1.1350 holds, sideways movement between 1.1167 and 1.1350 will be expected. These two are the key levels in the market to run in one direction. Suggestion for short positions Mid risk SL 1.1360 Mid risk TP: 1.1230 Suggestion for long positions Mid risk SL 1.1240 - 1.1260 Mid risk TP 1.1410

Tuesday July 6, 2020 Trend orientation: Bullish Daily Key resistance: 1.1350 Daily key support: 1.1167 Trading range: 1.1167 - 1.1142 EURUSD had a pullback from 1.1350 resistance to test 1.1300 minor support. We expect the market to surge again, and kill the 1.1350 resistance as its next errand.

Bullish trend Minor resistance @1.1302 EURUSD probably targets the June 23 high around 1.1350 if 1.1302 breaks.

Thursday, July 2, 2020 EUR USD Technical Analysis Expected trading range for today is between 1.1160 support and 1.1350 resistance. The EURUSD continues to play inside the sideway range channel. However, it seems the market correction and stabilization is gradually marching to its end. The Double top pattern could not weaken the buyer’s enthusiasm yet. Resistance 1.300 A breach in the mentioned resistance is considered as the key to resume the main bullish trend that targets the 1.1420 area initially while breaking the support at 1.1170 represents a negative factor that will press on the price to achieve additional bearish correction that its next targets located at 1:100 followed by 1.022.

Wednesday, July 1, 2020 GBP/USD Daily Analysis Is this a selling opportunity? GBP/USD formed a lower low at 1.2251, June 29, 2020, and has a robust rebound. The price is clung to the descending parallel channel around 1.2400 as I am writing this short market dissect. MACD has formed a massive divergence in the 1H chart, which raises concerns in trend reversal or market correction. In a technical standpoint: If 1.2402 breaks, the pair would probably leap to test the 1.2542 resistance. In case it slips, a penetration in 1.2359 support shows the market is more determined to make a new lower low than creating a new high.

29 June, 2020 USDJPY has formed a double bottom at 105.96. A double bottom pattern is a technical analysis charting pattern that describes a change in trend and a momentum reversal from prior leading price action. It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound.

Monday June 29,2020 GBPUSD Donward Movement Continues GBPUSD had a weak bouncing reaction to June 22 low at 1.2332. Key resistant is way down neasr 1.2062. The downward movement is being expected to as low as 1.2200 in the following days, if the investors don't hear about optimistic news in the U.K's economy.

Monday June 29, 2020 Is this a price correction? NZD/USD remained residing in the upward channel (in purple) moving slowly toward 0.6450. The previous scenario is yet valid. As long as 0.6381 support holds we presume the uptrend continues. Key bottom 0.6381 Key high 0.6585 Key resistant 0.6500 Key support 0.6381

NZDUSD seems to be swinging in the upward parallel channel. We have a well-formed double bottom at 0.6381. The market holds twice at 0.6381. The said pattern is considered as a bullish reversal. If 0.6381 holds we expect to see 0.6585 again. On the other hand, in case 0.6585 breaks down with a robust market move, latter consolidation may resume at lower levels.

If we consider 1.1422 as a new top on EUR/USD, the key support is March high at 1.1144. If Trend line Alpha plays his rule in pushing the price down, we can come up with the conclusion that the upward momentum started from is over, and we would see new lows near level 0.382 Fibonacci retracement (please check the daily chart).

24-hour view: “We expected EUR to consolidate ‘within a higher trading range of 1.0820/1.0880’. EUR subsequently traded between 1.0828 and 1.0890. Upward momentum has picked up and from here, EUR could edge above the strong resistance at 1.0900. For today, the next resistance at 1.0925 is unlikely to come into the picture. Support is at 1.0850 followed by 1.0830.” Next 1-3 weeks: “We indicated on Monday (24 Feb, spot at 1.0835) that the weak phase in EUR that started in early February has ended. Our view was that EUR has moved into a consolidation phase and is expected to trade within a relatively broad 1.0770/1.0900 range. EUR rose to 1.0890 yesterday (25 Feb) and upward momentum is beginning to improve. For now, we continue to hold the same view but if EUR were to register a NY closing above 1.0925, it would indicate the start of a stronger rebound towards 1.0980. The prospect for such a scenario is not high for now but it would continue to increase if EUR can hold above 1.0805 within these few days.

That said, the next relevant support emerges at the psychological mark at 1.10 the figure ahead of November 2019 lows around 1.0980. The offered bias in the spot should remain unchanged below the 55-day SMA, today at 1.1089.

Cable is currently nudging higher and trying to re-take 1.3100. The pair have broken through minor resistance from the 20- and 50-day moving averages, currently at 1.3065 and 1.3087 respectively, although a close above both will be needed to underpin the next move higher. Resistance either side of 1.3150 guards the short-term target of 1.3177, last Friday’s high. This near three-week high may prove difficult to better with the BoE meeting looming on the horizon. Short-term support between 1.3050 and 1.3058.

The USD/JPY pair witnessed some follow-through selling for the third consecutive session on Thursday and retreated further from multi-month tops set last week. The ongoing downward trajectory to near two-week lows has now dragged the pair below the 109.70 support zone – a previous strong horizontal resistance breakpoint.

The NZD/USD pair is struggling to find direction on Thursday and trading in a very tight 15-pip range below the 0.6600 handle with investors staying on the sidelines ahead of the key inflation data from New Zealand. The lack of significant macroeconomic data releases from China and New Zealand caused the pair to stay stuck in its narrow channel. Although the positively-correlated AUD/USD pair gained nearly 40 pips during the Asian trading hours following the upbeat labour market data from Australia, the NZD/USD failed to react.On the other hand, the greenback's uninspiring performance since the start of the week allows the pair to extend its sideways action. The US Dollar Index, which tracks the USD's value against a basket of six major currencies, seems to have gone into a consolidation phase after meeting resistance near 97.70 on Monday.