Global macro analysis for 27/04/2017

Global macro analysis for 27/04/2017: As widely expected the European Central Bank has left the key interest rates unchanged at the level of 0.0%. The Asset Purchase Target has been reduced from 80B to 60B Euro, but Marginal Lending Facility and Deposit Facility Rate were both left unchanged. In the statement, released just after interest Read more about Global macro analysis for 27/04/2017[…]






EUR/USD analysis for April 27, 2017

Recently, the EUR/USD pair has been trading sideways at the price of 1.0900. According to the 4H time frame, I found a broken rising wedge (bearish pattern). The price also did successful re-test of the upward diagonal, which is another sign of weakness. My advice is to watch for potential selling opportuntiies. The downward targets Read more about EUR/USD analysis for April 27, 2017[…]






USD/JPY reacting off our selling area, remain bearish

Price has reached our selling area and reacted off it. We remain bearish below major resistance at 111.37 (Fibonacci retracement, horizontal resistance, Fibonacci extension) and we expect a reaction below this level for a drop to at least 109.41 support (Fibonacci retracement, horizontal overlap support, price gap). Stochastic (34,5,3) is seeing major resistance at 91% Read more about USD/JPY reacting off our selling area, remain bearish[…]






AUD/USD on major support, prepare to buy

Price is now testing major support at 0.7456 (Fibonacci extension, Elliott wave theory) and we expect to see a bounce above this level to at least 0.7520 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing major support above the 7% level where we expect a bounce from. Buy above 0.7456. Stop loss at Read more about AUD/USD on major support, prepare to buy[…]






Elliott wave analysis of EUR/NZD for April 27, 2017

Wave summary: EUR/NZD did not clear the base channel resistance as expected, which has led to a sideways consolidation, but it should only be a matter of time before this consolidation drives prices higher towards 1.6000 and above towards the ideal wave iii target seen at 1.6656. Short-term look for consolidation within the 1.5670 – Read more about Elliott wave analysis of EUR/NZD for April 27, 2017[…]






Technical analysis of USD/JPY for April 27, 2017

USD/JPY is expected to trade with bullish bias above 110.90. The pair has bounced up from another test of support at 110.90 and is likely to challenge its 50-period moving average in sight. The relative strength index is below its neutrality level at 50 but reversing up. As long as the key level at 110.90 Read more about Technical analysis of USD/JPY for April 27, 2017[…]






Technical analysis of USD/CHF for April 27, 2017

USD/CHF is expected to prevail its downside movement. The pair broke below the 20-period and 50-period moving averages, which play resistance roles. In addition, the 20-period moving average is turning down. The relative strength index is capped by a bearish trend line since April 26. According to Trump’s tax plan, the income tax rate paid Read more about Technical analysis of USD/CHF for April 27, 2017[…]






Technical analysis of NZD/USD for April 27, 2017

NZD/USD is expected to trade with bearish outlook as the pair is capped by a negative trend line. The pair is capped by a negative trend line since April 24, which confirms a negative outlook. The downward momentum is further reinforced by a declining 50-period moving average. Even though a continuation of the technical rebound Read more about Technical analysis of NZD/USD for April 27, 2017[…]






Technical analysis of GBP/JPY for April 27, 2017

GBP/JPY is expected to prevail its upside movement. The pair is trading above the rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index is bullish and calls for a further upside. Hence, as long as 142.20 is not broken, a new rise to 143.50 and Read more about Technical analysis of GBP/JPY for April 27, 2017[…]