MBCFX brings you the latest technical analysis on the Gold/USD pair for the January 28th in this video.
Gold/USD — Gold steadied around $1,290 an ounce on Wednesday after reaching large gains on the previous sessions. Amid the decline of the US Dollar after the release of disappointing US Durable Goods Orders. Today the main focus of the traders will turn today to the FOMC Meeting decision and whether weak global economy may affect the US Federal Reserve’s enthusiasm to raise Interest Rates or not. The Gold rose during yesterday’s trading session and then closed above the golden Fibonacci level of 61.8% which is considered a strong barrier for the prices to resume its general bullish trend. And the gold is now trading with in a correction flag. As long as the prices remained trading within this flag gold is expected to maintain its bearish trend towards $1,293 per ounce and a break above this level will represent a good signal to resume the general bullish trend towards $1,296 and then $1,306. As for the key expected target of around $1,334 per ounce.
MBCFX brings you the latest technical analysis on the Gold/USD pair for the January 28th in this video.
In this video the Trader Guy looks at currency pair EUR/USD pair for the upcoming January 28th session.
EUR/USD — As you can see on the daily chart we had a positive session on Tuesday session. There are people out there looking at this right now on the 1 hour chart talking about how the Euro is finally breaking down. We did clear the gap but really when you look at it is still in this big downtrend. Because of this I actually pay attention to 1.15 level. Keep in mind that today is FOMC Interest Rate announcement any change in rates is less likely. The reason for thi rally is due to Core Durable Goods data out of US came less than expected. So this was an excuse to get a little bit of pullback. The 1.15 level looks significantly resistance and 1.18 to 1.20 is massively resistance as well. Until we clear the gap at 1.20 I am not interestd in buying. I am looking for resistance candles that I have not got yet. If I get any I am interested in selling again.
This strategy is used for USD/JPY pair and timeframe is 1 hour. Indicators used are Weighted Moving Average(60) and RSI(7).
Initiate a buy entry when a buy candle closes above the 60 Weighted Moving Average and RSI(7) has gone below the 30 level with its first point of divergence and price has made a lower low but the RSI either stayed level or made a higher low. Place Stoploss 5 pips lower than the last local minimum plus spread. Place your take profit 15 pips above the last local maximum plus spread. As you can see on the chart the price closes above the WMA triggering an uptrend signal and at the same time formation of RSI divergence signaled a long position. The last maximum and last minimum points both define points of take profits and stoploss respectively.
On the other hand, we can initiate a short entry when a short candle closes below the WMA(60) and RSI(7) line is above the 70 mark. As a rule we wait for first point of divergence to form a higher low or would have stayed level.
Hantec Markets brings you the latest technical analysis on the GBP/USD pair for the January 27th in this video.
GBP/USD — Cable had a bit of choppiness in the last few hours. We had this slight recovery yesterday but brought back in to this congestion zone. But there is nothing really on this daily chart to suggest anything other than a bear market rally. These technical indicators are fairly neutral in terms of a recovery and they are still pretty bearish. We are still in this big downtrend and 21 period moving average as resistance which comes at 1.5152 figure. Looking at the intraday chart it was an old floor that became resistance. Any rally towards this level is seen as a chance to sell. The MACD and Stocahstics in hourly chart confirms a sell signal. I like selling into strength and the fact that we just had GDP data out of UK disappointing missed estimates. We have initial resistance coming around .15120 that comes underneath that 1.52 figure. I am looking for selling opportunities in cable from the intraday rebound today after the GDP results. This rebound looks like a chance to sell.
The US Indices finished in the green as gains in the Oil and Gas, Consumer Services led shares higher. The NASDAQ rose by 0.29%, S&P 500 by 0.26% and Dow added 0.03% to its value. The US Dollar slipped moderately lower against the other major currencies as fear sparked by anti austerity party victory in Greek elections continued to result in relatively quiet trade. Today Core Durable Goods Orders report is expected at 0.6% vs. -0.7%, CB Consumer Confidence at 95.3 vs. 92.6 and New Home Sales at 452K vs. 438K previously. Gold fell by 1.22% to close at $1,281 an ounce. Crude oil rose slightly to close at $45.09 a barrel. The Euro rose versus US Dollar to close at 1.1236. German IFO Business Climate came out unchanged at 106.7. The EUR/USD is trading in a bearish momentum supported by MACD indicator below 0. Holding these conditions may lead to a fall to around 1.1150. A climb towards the upper Bollinger band may cause a reversal and a rise to around 1.16. Today ECOFIN Meetings are scheduled to take place.
The Pound rose versus US Dollar to close at 1.5086 but remaining within recent 18 month lows. The GBP/USD is trading bearish supported by RSI indicator below 50 and trading below the Moving average 10. This may drop the pair towards 1.50 while breaching the Moving averages may lift it to around 1.52. Today Prelim GDP is expected at 0.6% vs. 0.7% and BBA Mortgage Approvals at 36.6K vs. 36.7K prior.
In this video the Trader Guy looks at currency pair EUR/USD pair for the upcoming January 27th session.
EUR/USD — As you can see in the daily chart the EUR/USD pair has infact gapped lower at the open of Monday morning in Asia, drove down and bounced. Now this ofcourse would have been in reaction to the leftist party winning in election. One of their plan was wipe off 30% of the debt. The question is whether or not that can really happen. After the knee jerk reaction it was decided no. Get the whole Greece thing out of your head and my opionion is follow the trend anyways. I still think the 1.15 level could very well be tested and if it holds as resistance giving us value in US Dollar. Looking at the short term charts like the 4 hour chart we have some first signs of resistance. However I am not quite ready yet to sell based on that but I do recognize that we are in a downtrend that does not change due to Greece or not. Having said that we go to 1.10 level given enough time. I am looking for resistance candles on atleast the 1 hour chart to continue to sell on rallies. Could we break below 1.10, if we could break below then could be talking about parity.
Hantec Markets brings you the latest technical analysis on the GBP/USD pair for the January 26th in this video.
GBP/USD — We had this breakdown in this big downtrend and I believe that the breakdown below 1.5030 suggests that we are going to come back and test the key July 2013 low at 1.4810. Looking at the hourly chart we were in this range above the 1.5030 level which served as resistance for the last couple of days. If it sustain a move above 1.5030 then it becomes a reversal pattern. The Momentum indicators on hourly chart looks neutral. The 1.5030 line could be a bit of line in the sand for cable. No major buying pressure has come into cable yet. I am still expecting retest of these levels at 1.4973 and below that at 1.4948. As a medium term play I still see rallies are a chance to sell on cable.
The US Indices finished mixed after downbeat US Housing and Manufacturing reports. The NASDAQ rose by 0.16%, S&P 500 fell by 0.55% and Dow lost 0.79% from its value. The US Dollar traded higher against most major currencies on Friday after downbeat Existing Home Sales with 5.04 million vs. 5.08 million and Flash Manufacturing PMI at 53.7 vs. 54.1 but the Greenback still continued to trade at 12 year peak as risk aversion continued to dominate. Today the Investors focus will be on the Non Farm and Unemployment Rate reports.
The Euro fell by 1.38% versus US Dollar to close at 1.1208 after markets were digesting the European Central Bank’s announcement of large scale stimulus program. Today the German IFO Business Climate Report is expected at 106.7 vs. 105.5 previously and Eurogroup Meetings are expected to last all day.
The Pound slightly fell versus US Dollar to close at 1.4990 despite the release of upbeat Retail Sales data as expectations for Bank of England to hold its Monetary Policy for longer continued to weigh. Today BBA Mortgage Approvals report is expected at 36.6K vs. 36.7 previously. Gold slightly fell on Friday to close at $1,294 an ounce and Crude Oil fell to close at $45.39 a barrel.
This strategy is used for EUR/USD, GBP/USD, USD/CHF and AUD/USD pairs. The timeframe is 30 min and above. Indicators used are Moving average of period 200 MA, Moving average of period 3 and Moving average of period 8. The rules for long entry are as follows.
1. Wait for SMA3 to cross over SMA8 (purple line).
2. Price has to be above EMA 200 on the larger timeframe chart.
Target depends on timeframe and currency pair you are trading. If you are trading EUR/USD on 30 min timeframe you can go for 25 to 35 pips. If you are trading on 4 hour timeframe you can take profit at 60 pips and 90+ pips. Stoploss is 30 pips and 60 pips for 4 hour chart.
As you can see we are using two charts, one with a smaller timeframe and other with a larger timeframe. The time ratio between these two charts will be either 14 or 16. You are going to wait for SMA 3 and 8 crossover on the larger timeframe and then check the smaller timeframe for the same. When they both crossover which the yellow SMA 3 line above SMA 8 line, that is your buy signal.
Rules for short entry are as follows.
1. Wait for SMA3 to cross below SMA 8 line.
2. Price has to be below EMA 200 on the larger timeframe chart.
Target and Stoploss are same as above.
MBCFX brings you the latest technical analysis on the Gold/USD pair for the January 26th in this video.
Gold/USD — The Gold rebounded to 5 months high on Monday after the victory of the Greece Anti Austerity Party which provoked fears of renewed instability in Europe increasing safe haven demand for bullion. Greek Leftist Leader to become Prime Minister of the first Eurozone Government opposed to bailout conditions imposed by the European Union and International Monetary Funds during the Economic crisis. The yellow metal has reached to recover by 8.5% sinc e 2015 hitting the highest level on $1307.50 per ounce and after the significant rebound the gold has entered within the correction step into sideways triangle which confirms some decline of the prices and then we expect a significant rebound confirmed by the break above the 1,298 level. Then it will rise towards the Fibonacci level 78.6% around $1300, $1314 and $1,324 which is the main general target of the Gold. As we can see on the daily chart the Gold has succeeded to break above the Moving average 200 and confirms the further recover of the prices.