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#1
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Franc's Journal
EUR/JPY for February 4, 2016
Summary; As the resistance line at 141.04 has protected the upside and turned prices lower, we still have two possible scenarios in play. The first shows that a very complex corrective pattern is still unfolding for an orthodox top at 145.69 and since then an expanded flat pattern has been unfolding. A final decline to the territory below 126.05 should be seen. The second scenario suggests that an expanded flat pattern has terminated at 126.05 and a new impulsive rally now is unfolding, but a break above the resistance-line near 132.50 is needed to gain momentum to play out this scenario. The breakout above 132.50 calls for 141.04 and above. Trading recommendation: We will remain sidelined for now. |
#2
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EUR/NZD for February 4, 2016
Summary: EUR/NZD has taken a position from where a strong rally through 1.7007 and more importantly a breakout above 1.7271 can be seen anytime now. But this scenario needs support at 1.6564 to protect the downside for a breakout above minor resistance at 1.6917 and then at 1.7007. The breakout below 1.6564 will be yet another disappointment which delays the expected rally higher closer to 1.6487 and maybe even closer to 1.6370 before higher again. Trading recommendation: We are long EUR from 1.6837 and have placed our stop at 1.6537. If you are not long EUR yet, then buy near 1.6640 or upon a breakout above 1.6780 and use the same stop at 1.6537. |
#3
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Technical analysis of USD/CAD for Febuary 4, 2016
Support/Resistance: 1.4690 - Swing High 1.4553 - WR3 1.4436 - WR2 1.4324 - Technical Resistance 1.4173 - WR1 1.4061 - Weekly Pivot 1.4104 - Intraday Resistance 1.3907 - Intraday Support 1.3798 - WS1 Trading recommendations: Buy orders are now in profit and day traders should move the SL to the BE and wait for the TP at the level of 1.4173 is hit. |
#4
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Technical analysis of EUR/JPY for Febuary 4, 2016 (another View)
Support/Resistance: 133.69 - WR1 132.27 - Local High|Technical Resistance| 130.81 - Intraday Resistance 130.76 - Weekly Pivot 130.22 - Intraday Support 129.18 - WS1 Trading recommendations: An uptrend might be resumed now, so day traders should consider placing buy orders from the current market levels with SL below the level of 130.21 and TP open for now. |
#5
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Gold technical analysis for February 4, 2016
On a weekly basis, the gold price remains inside a long-term black downward sloping wedge below the Ichimoku cloud, but it has broken above the weekly kijun-sen resistance (yellow line indicator). However, we should wait to see if this week closes above the kijun-sen. Strong weekly resistance is found at $1,150, so this level cannot be ruled out for a final upward move. |
#6
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Technical analysis of USD/JPY for February 15, 2016
TODAY'S TECHNICAL LEVEL: Resistance. 3: 112.91. Resistance. 2: 112.69. Resistance. 1: 112.47. Support. 1: 112.20. Support. 2: 111.98. Support. 3: 111.75. |
#7
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Technical analysis of EUR/USD for February 15, 2016
TODAY'S TECHNICAL LEVEL: Breakout BUY Level: 1.1365. Strong Resistance:1.1358. Original Resistance: 1.1347. Inner Sell Area: 1.1336. Target Inner Area: 1.1309. Inner Buy Area: 1.1282. Original Support: 1.1271. Strong Support: 1.1260. Breakout SELL Level: 1.1253. |
#8
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EUR/JPY for February 15, 2016
Trading recommendation: We bought EUR at 126.10 and hit the stop+revers at 126.10. So now we are short EUR from 126.10 looking for an opportunity to take profit near 125.00. |
#9
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Technical analysis of Silver for7 March 2016
Technical outlook and chart setups: Silver is trading at the levels of $15.22/25 at the moment, after hitting intraday highs of $15.30. The metal seems to be poised to push prices lower towards $14.80 and $14.60. The metal is trading ahead of its big brother gold by hitting fresh swing lows yesterday at $14.92. Furthermore, the dropping trend-line resistance is also being followed, keeping the intermediary trend intact. It is hence recommended to hold short positions with risk at $15.50. Immediate resistance is seen at $15.50, while support is seen at the level $14.90 (interim). Only a breakout above $15.50 should disturb the existing bearish setup. Trading recommendations: Remain short with stop at $15.50, a target is at $14.60. Good luck! |
#10
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Technical analysis of GBP/CHF for 7 March 2016
Technical outlook and chart setups: The GBP/CHF pair is trading lower at 1.4050 now, looking foe an opportunity to rally. Please note that GBP/CHF has completed a zigzag corrective wave 2 at 1.4000 before pulling back today. If the pair holds above 1.4000, bulls are expected to take control and push higher towards at least 1.4460 before producing a meaningful pullback. It is hence recommended to remain long from here (1.4050), with risk below 1.4000. Immediate interim support is seen at 1.4000 followed by 1.3920, while resistance is seen at 1.4150 and higher. Please note that a drop below 1.4000 would probably confirm a continued downtrend. Trading recommendations: Remain long again with stop at 1.3950, a target is 1.4460. |
#11
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Technical analysis of USD/CHF for 7 March 2016
The USD/CHF pair hit the weekly resistance 1 yesterday. But, it dropped down in order to bottom at the point of 0.9934. Today, the pair is trading above its pivot point. It is likely to trade in a higher range as long as it remains above the level of 0.7898. Hence, the major support was already set at the level of 0.7898. Moreover, the double bottom is also coinciding around the major support today. Additionally, the RSI is still calling for a strong bullish market as well as the current price is also above the moving average 100. Therefore, it will be advantageous to buy above the current level of 0.9923 with the first target at 0.9990 in order to retest the weekly resistance 1. From this point, if the pair closes above the weekly resistance 1 of 0.9990 in the H4 chart, the USD/CHF pair may resume its movement to 1.0030 to form a new double top. However, stop loss should always be taken into account, accordingly, it will be beneficial to set the stop loss below the last bearish wave at 0.9840. |
#12
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Technical analysis of NZD/USD for 7 March 2016
The NZD/USD pair has broken resistance at the level of 0.6692, which acts as support now. So, the pair has already formed minor support at 0.6692. The strong support is seen at the level of 0.6613 because it represents the weekly pivot. In the H1 time frame, the RSI and the moving average (100) are still pointing to the upside. Therefore, the market indicates a bullish opportunity at the level of 0.6692. Buy above the minor support of 0.6692 with a target at 0.6756 (this price is coinciding with the ratio of 161.8% Fibonacci). On the other hand, if the pair closes below the minor support (0.6692), the price will fall into the bearish market in order to go further towards the strong support at 0.6620. |
#13
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Intraday technical levels and trading recommendations for EUR/USD for 7 March 2016
In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 and 1.2000 where historical bottoms were previously set in July 2012 and June 2010. Hence, a long-term bearish target is projected towards 0.9450. In March 2015, EUR/USD bears challenged the monthly demand level of 1.0570, which was previously reached in August 1997. Later, in April 2015, a strong bullish recovery was observed around the mentioned demand level. The April candlestick came as bullish engulfing one. However, next monthly candlesticks (September, October, and November) reflected strong bearish rejection in the area around 1.1400. December's candlestick came as bullish engulfing one allowing the current bullish pullback to take place towards 1.1370. The zone of 1.1350-1.1400 remains the key Supply Zone to be watched during the current bullish pullback. As we expected, recent bearish rejection is currently being manifested. The level of 0.9450 will remain a long-term bearish target in case the current monthly candlestick closes below the depicted demand level of 1.0570. |
#14
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Intraday technical levels and trading recommendations for GBP/USD for 7 March 2016
In November 2015, a bearish engulfing weekly candlestick closed below the level of 1.5200 (the neckline of the Head and Shoulders pattern). This enhanced the bearish side of the market in the long term. Extensive bearish pressure has been applied against the demand levels of 1.4620 and 1.4360. Both of them were broken to the downside. Shortly after the GBP/USD pair moved below 1.4220, evident signs of bullish recovery were expressed around 1.4075. Hence, previous weekly candlesticks closed above 1.4220 and 1.4360 again, indicating strong bullish demand. Bullish persistence above 1.4360 was mandatory to maintain enough bullish strength in the market. The first bullish target was seen at 1.4615. However, recent bearish rejection was expressed at 1.4615 (a broken weekly demand level). It is currently acting as a strong supply level. The price zone of 1.4300-1.4200 remains a significant demand zone to be watched for a possible buy entry similar to what happened few weeks ago. On the other hand, If the current weekly candlestick maintains its bearish closure below the depicted demand zone (below 1.4200), the next weekly demand level will be located at 1.3850 (a historical bottom that goes back to March 2009). |
#15
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Technical analysis of GBP/JPY for 7 March 2016
Trading Recommendations: The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 157.20. A break of this target will move the pair further downwards to 156.50. The pivot point stands at 159. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 160.50 and the second target at 162.20. Resistance levels: 160.50, 162.20, 163.00 Support levels: 157.20, 156.50, 155.35 |
#16
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Technical analysis of NZD/USD for 7 March 2016
Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.67 and the second one at 0.6730. In the alternative scenario, short positions are recommended with the first target at 0.6565 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.6565. The pivot point is at 0.6605. Resistance levels: 0.67, 0.6730, 0.6775 Support levels: 0.6565, 0.6540, 0.6505 |
#17
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USD/CHF Technical Levels
Resistance 0.9867 Resistance 0.9797 Resistance 0.9723 Pivot Point0.9598 Support 0.9501 Support 0,9461 Support 0,9402 |
#18
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NZD/USD Analysis
You should buy this pair if the price goes 0.6886. The The buy should not go above 0.6890, and should have a stop loss at the point 0.6870 |
#19
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EUR/USD Analsis
Wait for a clear close above 1.1320 then go long with you target at 1.1416. A break above this level will take the price to the upperside. |
#20
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GBP/USD TEchnical Analsis
Conservative traders should buy this pair above 1.4249 and have a target at 1.4346. As long as Euro remains bullish, look for long positions in this pair! |
#21
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USD/CAD Technical Analysis
As long as GBP/USD and EURO remains Bullish. Look for short positions in this pair with you target at 1.1256 and the next target at 1.1224 |
#22
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EUR/USD Technical Analysis
Summary : Target Level : 1.1029 Target Period : 2 days Analysis : Descending Triangle identified at 07-Jul-20:00 2016 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.103 within the next 2 days. Supporting Indicators : Downward sloping Moving Average Resistance Levels : ( B ) 1.1101Last resistance turning point of Descending Triangle. Support Levels ( A ) 1.1029Last support turning point of Descending Triangle. |
#23
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USDJPY Technical Analysis
Summary : Target Level : 100.0955 Target Period : 4 hours Analysis : Possible bearish price movement towards the support 100.0955 within the next 4 hours. Supporting Indicators : Downward sloping Moving Average Resistance Levels : ( B ) 100.71154 hour high volatility level Support Levels ( A ) 100.09554 hour low volatility level |
#24
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GBP/USD
Summary : Target Level : 1.3048 Target Period : 2 days Analysis : Triangle identified at 08-Jul-02:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.305 within the next 2 days. Supporting Indicators : Upward sloping Moving Average Resistance Levels : ( B ) 1.3048Last resistance turning point of Triangle. Support Levels ( A ) 1.288Last support turning point of Triangle. |
#25
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AUD/USD Technical Analysis
Summary : Target Level : 0.7545 Target Period : 3 days Analysis : Triangle identified at 06-Jul-12:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 0.754 within the next 3 days. Supporting Indicators : Upward sloping Moving Average Resistance Levels : ( B ) 0.7545Last resistance turning point of Triangle. Support Levels ( A ) 0.7407Last support turning point of Triangle. |
#26
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USDCHFTechnical Analysis
Summary : Target Level : 0.9741 Target Period : 21 hours Analysis : Rising Wedge identified at 08-Jul-01:00 2016 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.974 within the next 21 hours. Resistance Levels : ( B ) 0.9817Last resistance turning point of Rising Wedge. Support Levels ( A ) 0.9741Last support turning point of Rising Wedge. |
#27
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EUR/USD Technical Analysis
Supporting Indicators : Upward sloping Moving Average Resistance Levels : ( A ) 1.12084 hours high volatility level Support Levels ( B ) 1.11624 hours low volatility level |
#28
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USDJPY Technical Analysis
Supporting Indicators : Downward sloping Moving Average Resistance Levels : ( B ) 103.24594 hours high volatility level Support Levels ( A ) 102.65614 hours low volatility level |
#29
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GBP/USD Technical Analysis
Supporting Indicators : Downward sloping Moving Average Resistance Levels : ( B ) 1.24634 hours high volatility level Support Levels ( A ) 1.23354 hours low volatility level |
#30
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AUD/USD Technical Analysis
Resistance Levels : ( B ) 0.7692Last resistance turning point of Channel Down. Support Levels ( A ) 0.7552Last support turning point of Channel Down. |
#31
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USDCHF Technical Analysis
Supporting Indicators : Downward sloping Moving Average Resistance Levels : ( B ) 0.98044 hours high volatility level Support Levels ( A ) 0.97644 hours low volatility level |
#32
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EUR/USD Technical Analysis for 7th Nov 2016
Summary : Target Level : 1.1059 Target Period : 22 hours Analysis : Triangle identified at 04-Nov-00:00 2016 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.1059 within the next 22 hours. |
#33
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USD/JPY Technical Analysis for 7th Nov 2016
Summary : Target Level : 103.319 Target Period : 10 hours Analysis : Triangle identified at 04-Nov-03:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 103.3190 within the next 10 hours. |
#34
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GBP/USD Technical Analysis for 7th Nov 2016
Summary : Target Level : 1.2232 Target Period : 2 days Analysis : Channel Up identified at 04-Nov-05:30 2016 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.2232 within the next 2 days. |
#35
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aud/USD Technical Analysis for 7th Nov 2016
Summary : Target Level : 0.7611 Target Period : 2 days Analysis : Rising Wedge identified at 04-Nov-03:00 2016 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.7611 within the next 2 days. |
#36
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USDCHF Technical Analysis for 7th Nov 2016
Summary : Target Level : 0.9762 Target Period : 18 hours Analysis : Approaching Resistance level of 0.9762 identified at 04-Nov-02:00 2016 GMT |
#37
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EUR/USD Technical Analysis
Summary : Target Level : 1.0654 Target Period : 6 hours Analysis : Falling Wedge has broken through the resistance line at 21-Nov-01:00 2016 GMT. Possible bullish price movement forecast for the next 6 hours towards 1.0654. |
#38
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USDJPY Technical Analysis
Summary : Target Level : 110.646 Target Period : 5 hours Analysis : Rising Wedge identified at 21-Nov-05:45 2016 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 110.6460 within the next 5 hours. |
#39
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GBPUSD Technical Analysis
Summary : Target Level : 1.23 Target Period : 4 hours Analysis : Possible bearish price movement towards the support 1.2300 within the next 4 hours. |
#40
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USDCHF Technical Analysis
Summary : Target Level : 1.0117 Target Period : 4 hours Analysis : Possible bullish price movement towards the resistance 1.0117 within the next 4 hours. |
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