Daily Forex Technical Analysis by IFC Markets

Re: Daily Forex Technical Analysis by IFC Markets

Postby Akriti » Tue Aug 20, 2013 7:35 am

Forex Technical Analysis USD/CAD 2013-08-20

The currency pair respected the surging line and did not fall below support at 1.0276, although upside has been limited in the last trading session by resistance at 38.2% Fibonacci level of 1.0604 to 1.0243, at 1.0380. Thus, prices are mainly extending into 1.0380/1.0276 sideways zone.
For that reason oscillators do not provide much of help regarding forecasts, except that Moving average of oscillator is positive favoring upside even that though is minor.

See more: http://www.ifcmarkets.com/en/technical- ... 2013-08-20
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Re: Daily Forex Technical Analysis by IFC Markets

Postby Akriti » Wed Aug 21, 2013 7:29 am

Forex Technical Analysis USD/CHF 2013-08-21

The currency pair approached once more the lower boundary of the long-term 0.9834/0.9129 sideways zone with the downside bias prevailing in yesterday’s trading but limited around support at 0.9172.
Looking at the oscillators, the Stochastic just entered oversold territory coupled by Williams’ percent range being at oversold, both suggesting a technical retreat higher.

See more: http://www.ifcmarkets.com/en/technical- ... 2013-08-21
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Re: Daily Forex Technical Analysis by IFC Markets

Postby Akriti » Thu Aug 22, 2013 7:46 am

Forex Technical Analysis EUR/USD 2013-08-22

The currency pair rose above the previous key resistance at 1.3400 inducing traders to follow on the long side but then suddenly dropped sharply to create a “bull trap” pattern. That pattern increased weakness and drove prices down to 1.3313.
Currently, oscillators are around extreme down levels with the Stochastic falling into oversold territory and OsMA fluctuating at previous troughs line.

See more: http://www.ifcmarkets.com/en/technical- ... 2013-08-22
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Re: Daily Forex Technical Analysis by IFC Markets

Postby Akriti » Fri Aug 23, 2013 8:04 am

Forex Technical Analysis USD/JPY 2013-08-23

The currency pair bias has been strongly to the upside with prices walking on the upper Bollinger band and in some cases even closing above that band. Moreover, we see a newly established surging trend with higher high and higher low as well as penetration of the 200 SMA in the 4-hours chart.
However, Stochastic entered overbought zone and rose to previous peak line at 85 coupled by William’s percent range (14) peaking at its highest point at 0.00, OsMA also rose significantly but remains slightly below its earlier trough line.

See more: http://www.ifcmarkets.com/en/technical- ... 2013-08-23
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Re: Daily Forex Technical Analysis by IFC Markets

Postby Akriti » Mon Aug 26, 2013 7:17 am

Forex Technical Analysis GBP/USD 2013-08-26

The currency pair was limited by the upper boundary of 1.5751/1.4832 long-term daily range, shifting to downside bias and falling to support at 1.5533 where the 200 SMA is located. According to the surging trend line, the medium-term trend is to the upside and that could be respected should the prices do not fall below 1.5432.
Looking at momentum oscillators, Stochastic has still room to move lower and William’s percent range just escaped overbought zone suggesting downside is more likely. In addition, the trend oscillator OsMA just turned into negative territory.

See more: http://www.ifcmarkets.com/en/technical- ... 2013-08-26
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Re: Daily Forex Technical Analysis by IFC Markets

Postby Akriti » Tue Aug 27, 2013 8:45 am

Forex Technical Analysis USD/JPY 2013-08-27

The currency pair is in downside bias declining towards support at 97.66 where the surging trend line is located and coupled by 100 SMA. Thus we expect that level to hold declining prices in the intraday.

In addition, the Williams’ percent range indicates that the pair is oversold since the oscillator is almost at its bottom. Reinforcing possible upside reaction is that the shorter-term Commodity Chanel Index dropped below the subjectively set -150 line where previous troughs were observed and is increasing.

See more: http://www.ifcmarkets.com/en/technical- ... 2013-08-27
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Re: Daily Forex Technical Analysis by IFC Markets

Postby Akriti » Wed Aug 28, 2013 7:33 am

Forex Technical Analysis USD/CHF 2013-08-28

The lower boundary of the longer-term 0.9753/0.9149 daily range is currently limiting downside bias and is likely reverse momentum to upside. Williams’ percent range is near its bottom line at 100 suggesting that bulls will return to the market.
However, all the SMAs are above prices and the medium term trend is negative, therefore we consider chances for either side almost equal.

See more: http://www.ifcmarkets.com/en/technical- ... 2013-08-28
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Re: Daily Forex Technical Analysis by IFC Markets

Postby Akriti » Thu Aug 29, 2013 10:11 am

Forex Technical Analysis USD/CAD 2013-08-29

The currency pair drew a resistance line at 1.0541 where the upper Bollinger band is located, approaching to almost 2-year high around 1.0600 and then retraced to 1.0470. In the daily chart up trend prevails and that increases chances for higher levels, however psychological resistance at 1.06 places a heavy lid on prices.
There are no contrarian signals from Stochastic oscillator, coupled by MACD in positive ground and the ADX indicating a strong bullish structure for prices.

See more: http://www.ifcmarkets.com/en/technical- ... 2013-08-29
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Re: Daily Forex Technical Analysis by IFC Markets

Postby Akriti » Fri Aug 30, 2013 7:30 am

Forex Technical Analysis EUR/USD 2013-08-30

Downside bias was somewhat blocked by the 161.8% of the 1.33 to 1.34 correction, around 1.3237. We can see that prices have been consolidating around that level in the recent trading with intraday trend being negative and downside momentum strengthened by the breaching SMAs.

However the momentum oscillators like Williams’ percent range and Stochastic are overextended down suggesting that the currency pair would consolidate or bounce up to reset oscillators.

See more: http://www.ifcmarkets.com/en/technical- ... 2013-08-30
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Re: Daily Forex Technical Analysis by IFC Markets

Postby Akriti » Tue Sep 03, 2013 7:41 am

Forex Technical Analysis AUD/USD 2013-09-03

The currency pair recent downside bias was limited by key support at 0.8846 a more than a 3-year low, coexisting with the lower Bollinger band at that point. In addition, Bollinger bands are squeezing prices as in the recent trading the pair volatility reduced and has been fluctuating between 0.9230/0.8846 tight range.

Prices reached the lower boundary of the range and shifted to upside bias in the intraday, Williams’ percent range also suggested that earlier.

See more: http://www.ifcmarkets.com/en/market-overview/show/1496
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