29 / 02 / 2016 | Technical Analysis

EUR/GBP: Today’s Major Levels 0.7897 and 0.7791

North American Session
The EUR/GBP pair has been trending downwards since the 25th of January 2016, with the price falling from as high as 0.7928 to as low as 0.7791. 

In the event that the sellers keep exerting strong pressures and the price breaks below 0.0.7785, profit targets could be set at 0.7750.

On the other side, in the scenario where the buyers manage to push the price above the level of 0.7859, the price could rise up to 0.7876 and 0.7895 respectively.  

 

Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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29 / 02 / 2016 | Technical Analysis

EUR/JPY: Major Levels 123.40 and 124.45

European Session 
The EUR/JPY pair has been moving upwards since the 24 of February 2016, with the buyers leading the price from as low of 122.46 to as high as 124.99.

The currency pair consolidated on Friday, balancing between the levels of 124.21 and 124.86. On Monday, the EUR/JPY price opened at 124.45 and dropped at 123.40. In the scenario that the buyers exert heavier upward pressures and manage to push the price above the 126.61, the pair could reach 125.32 and 125.99 respectively.

Alternatively, if the sellers manage to force the price to break below the level of 123.05, the pair could decelerate to 122.46.  



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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26 / 02 / 2016 | Technical Analysis

GLD: Today’s Major Levels 1211.47 and 1239.92

North American Session
Gold has been trending downwards since the 24th of February 2016, with the bears leading the price from as high as 1253.40 to as low as  1211.47.

During the early US session, the precious metal price fell aggressively from 1238.21 down to 1211.47. In the event that the buyers manage to gain momentum and push the price above 1221.51, the price could reach 1232.14 and 1237.34 respectively.


On the other side, where the sellers keep exerting strong pressures and the price breaks below 1205.53, the price could decelerate down to 1190.69.
 

 
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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26 / 02 / 2016 | Technical Analysis

USD/JPY: Major Levels 112.55 and 113.22

European Session
The USD/JPY pair has been moving higher since Wednesday, the 24th of February 2016, with the price moving from 111.04 up to 113.22.
 
Today, the pair initially advanced up to 113.22, but as of writing the price is trading at 112.89. In the event that the buyers keep pushing higher and the price breaks above 113.41, profit targets could be locked in at 114.55 and 114.87 respectively.

On the other hand, in the scenario where the price drop below 112.49, the pair could go down to 111.94 and 111.04 in extension.
 


Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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25 / 02 / 2016 | Market News

Dollar trade lower against rivals, oil remains in focus

The dollar trade lower against the other major currencies on Thursday, after U.S. data unveil a mixed picture of the economy amid investors focus on the oil market.

The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending February 20 increased by 10,000 to 272,000 from the previous week’s total of 262,000, missing expectations of a rise of 8,000 to 270,000 last week.

Separately, the U.S. Commerce Department said that total durable goods orders rose by 4.9% last month, blowing past forecasts for a rise of 2.5%. Core durable goods orders, which exclude volatile transportation items, increased by 1.8% in January, easily surpassing expectations for a gain of 0.2%.

Futhermore, oil prices held above $31 a barrel, but worries over a supply glut persisted after weekly stockpile data released on Wednesday, showed that U.S. oil inventories jumped to an all-time high last week.

The greenback advanced 0.49% against the Japanese yen, with USD/JPY to trade at 112.75. 

The dollar dropped against the pound, with GBP/USD up 0.09% at 1.3940, still close to Wednesday’s seven-year low of 1.3875.

The dollar was also lower against the euro, with EUR/USD up 0.15% at 1.1032, USD/CHF added 0.13% to trade at 0.9902.

Meanwhile, the Australian and New Zealand dollars were stronger, with AUD/USD up 0.15% at 0.7208 and with NZD/USD climbing 0.50% to 0.6694.

The U.S. dropped 0.83% against its Canadian counterpart, with USD/CAD to trade at a two-month low of 1.3583.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.09% at 97.42.
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25 / 02 / 2016 | Technical Analysis

EUR/CHF: Today’s Major Levels 1.0881 and 1.0948

North American Session
The EUR/CHF pair has been upwards since Wendsday, the 24th of February 2016, with the price rising from as low as 1.0864 to as high as 1.0948. 

On Tuesday, the pair fell aggressively from 1.1028 to 1.0922, then stabilize between the levels of 1.0916 and 1.0942, after continue dropping down to 1.0864. In the event that the seller manages to force the price below the level of 1.0916, the pair could find support at 1.0896 and 1.0864 respectively.

On the flip side, in the scenario where the price breaks above the level of 1.0948, the pair could escalate up to 1.0986 and 1.1014 in extension.




Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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25 / 02 / 2016 | Technical Analysis

AUD/USD: Major Levels 0.7156 and 0.7202

European Session
The AUD/USD pair has been trending downwards since the 23th of February 2016, with the bears leading the price from as high as 0.7258 to as low as 0.7145.
On Wednesday, the pair advanced up to 0.7213, but turn back around and fell down to 0.7156 during the Asian session. In the event that the buyers attempt to move higher and break above 0.7188, the pair could reach 0.7201 and 0.7215 in extension.
Conversely, in the scenario where they sellers manage force the price successfully below 0.7143, the pair could decelerate down to 0.7116 and 0.7082 respectively. 



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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24 / 02 / 2016 | Technical Analysis

USD/CHF: Today’s Major Levels 0.9861 and 0.9952

North American Session 
The USD/CHF pair has been trending downwards since the 22th of February 2016, with the sellers leading the price from as high as 1.002 to as low as 0.9861. 

In the event that the bulls manage to overweigh sellers in trading volume and push the price above 0.9915, profit targets could be set at 0.9949 and 0.9969 respectively.

On the flip side, in the scenario where the sellers keep pressing the pair below 0.9831, the price could find support at 0.9791 and 0.9740 in extension. 



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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24 / 02 / 2016 | Market News

Dollar remains broadly higher versus rivals

The dollar manages to hold onto gains compared to the rest of the major currencies on Wednesday, hovering at a three-week peak as investors eyed the release of U.S. home sales data due later in the day.
 
The Federal Reserve Vice-Chairman Stanley Fischer after speaking at a conference in Houston, caused more uncertainty over future U.S. rate hikes with his phrase " simply do not know" as it concerns the course of action they will take at their next meeting in March. Also, Fischer added that it is too early to assess the impact of market volatility.
 
Elsewhere, demand for the safe-haven yen remained supported as oil prices slipped below $31 a barrel on Wednesday after Saudi Arabia’s oil minister said that production cuts "will not happen", with USD/JPY slipped 0.20% to 111.89.
 
Furthermore, Iran also stated that it had no interest in reducing production after international sanctions against it were lifted, calling a joint Russian/Saudi proposal for major exporters to freeze output "laughable".
 
The greenback was lifted against the Sterling pound, with GBP/USD down 0.80% at 1.3909, falling below $1.40 for the first time since March 2009, amid fears over the impact on the economy if the outcome of the June 23 referendum leads to a “Brexit”.
 
The dollar was also higher against the euro, with EUR/USD dropping 0.32% to 1.0983, which was also wakened this week amid fears over the impact of a “Brexit” on the euro zone.
 
Elsewhere, USD/CHF edged up 0.22% to trade at 0.9935.
 
Meanwhile, the Australian and New Zealand dollars were weaker, with AUD/USD declining 0.53% to 0.7165 and with NZD/USD retreating 0.57% to 0.6607.
 
The dollar rose 0.37% against its Canadian counterpart, with USD/CAD to trade at 1.3842.
 
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.35% at 97.80, the highest since February 3.
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24 / 02 / 2016 | Technical Analysis

EUR/GBP: Major Levels 0.7853 and 0.7886

European Session
The EUR/GBP pair has been trending up since Tuesday, the 16th of February 2016, with the price mostly ranging between the levels of 0.7695 and 0.7887.

On Thusday, the price rise from as low as 0.7802 up to 0.7864In the scenario that the buyers succeed in forcing the price to break above the level of 0.7897, the price could escalate up to 0.8004.

Conversely, in the scenario where the sellers manage to resume their bearish pressures and break below the level of 0.7814, the price could decelerate down to 0.7791 and 0.7768 in extension.




Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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