Overview:The USD/CHF is expected to consolidate with bullish bias after hitting two-week high at 0.8869 on Thursday. The USD/CHF has been supported by the Swiss National Bank on Thursday repeating its pledge to intervene in currency markets to prevent the Swiss franc from strengthening beyond 1.20 per euro, and keeping its target range for the…

USD/CAD Elliott Wave After a couple of days in the strong upward trend, the USD/CAD pair is showing some weakness at the moment, corrective wave [ii] (coloured black) of the bigger wave A (coloured blue) has been developing. In the chart of the pair above, we can see that short cycle from 1.10221 level is…

The daily pivot point: 0.9027. Trading recommendations: The resistance has set at the price of 0.9140 and the support, at the 0.9010 price. So, according to the previous events, the AUD/USD pair is going to move between the resistance and the support. As a rule, history will probably repeat itself at this level again. Therefore,…

As we said yesterday, gold was probably moving within a pullback from $ 1,320.0 towards $ 1,331.0, and $ 1,337.0. That was true, and gold moved exactly within our levels and made a high at $ 1,334.30. In the hourly chart, the RSI is showing a completed positive divergence. We expect further up move in…

The dollar index finally broke out of the wedge it's been forming for days. It went on extending to the point you would expect the dollar to collapse, but for the euro's critical level of 1.396 that I also showed could be a key trend reversal level. Finally, we have a breakout that could mean…

Unlike gold, silver failed to go above the 40-week average. It lacks the same impulsive behavior so it might be doing something different. $ 20.42 is the 20wma support, below which I would consider that its still forming a triangle and could go down to the lower line at $ 19.22$ . The material has…

Daily chart: GBP/USD made a breakout at the support level of 1.6540, so it is very likely that during today's session, the pair will begin to form a bearish pattern since the GBP/USD had a recent lateralized drop days ago. The objective of this pair in our bearish outlook is bullish trend line near the…

Daily chart: The USDX is consolidating above the support level of 80.11. Now, it is very likely that the USDX attempts to climb to the resistance level of 80.62. On the other hand, it's expected to start forming a lower high pattern above this level. The USDX remains below the 200 SMA and MACD is…

In Asia, Japan will not release any economic data's because of the Bank Holiday and the US will not release any statistics too. So there is a big probability the USD/JPY will move with low or medium volatility during this day. TODAY's TECHNICAL LEVELS: Resistance. 3: 102.86. Resistance. 2: 102.66. Resistance. 1: 102.46. Support. 1:…

When the European market opens, some economic news will be released such as Current Account, Consumer Confidence. Today the US will not release any economic data, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY's TECHNICAL LEVELS: Breakout BUY Level: 1.3847. Strong Resistance:1.3838. Original Resistance: 1.3825. Inner Sell…

General overview for 21/03/2014 07:00 CET As I mentioned yesterday, the possibility of a triangle wave b red was very high and a downside breakout was anticipated. The key level to the upside is the level of 141.27 and any breakout higher above this level means that weekly pivot and even the intraday resistance level…

General overview for 21/03/2014 07:10 CET There is not much of an impulsive wave development to the downside yet, so the alternate count of a triangle can not be ruled out. Only a sustained breakout below the intraday support at the level of 1.1230 would open the road to the next important support at the…

EUR/USD: At last, the EUR/USD was able to trade below the resistance line at 1.3800, leading to the awaited Bearish Confirmation Pattern in the chart. The support line at 1.3750 has been tested and could be re-tested again. Should it be broken to the downside, the price would go to the next support line at…

Gold price has found support above $ 1,318 and is now trading near $ 1,338. Gold price is ready for a bounce higher towards $ 1,350-$ 1,360. This upward move is corrective, and we will look to go short with $ 1,390 as a stop and the $ 1,300-$ 1,270 target area. Short-term trend has…

Soon, we will know if the breakout of the Dollar index above 80 towards 80.50 was real or a false breakout. The Dollar index is pulling back down towards its break out area and this backtest is very important. Previous resistance area at 80-79.95 is now support. If this support holds, we should expect another…

Today's Support and Resistance levels: R3: 141.92 R2: 141.68 R1: 141.30 Current spot: 141.12 S1: 140.89 S2: 140.65 S3: 140.43 Technical summary: With a slight new low at 140.43 red wave v. As we now have a minor five wave decline from 143.79 we should expect a minor correction higher towards the 142.11-142.50 area, before…

Daily chart: The GBP/USD has had a fall to the support level of 1.6540 and now this pair is trying to consolidate below that level. However, it is expected that the GBP/USD start forming a higher low pattern. It should be noted that near the support level of 1.6447, there is a bullish trend line…