Technical Analysis by RoboForex

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Morning Call. Market Overview for 14.09.2016



EUR / USD
The Euro is trading sideways in a large trend. Support is at 1,0822, resistance at 1,1429. Short term the Euro is in a upward trend.



USD / JPY
The USD is in a downward trend against the Yen. Major support is at 100 on a closing basis.



Gold
Gold mid term, is trending upwards.The next major resistance is at 1375, support at 1300.



WTI Oil
Oil is in a downward trend.



Overnight:
After opening strongly, the DAX lost more and more ground during the day, closing moderately weaker at 0.43%. Larger loses were seen in other European markets. The French CAC 40 lost 1.19% and the Italian market lost 1.74%. Tuesday´s marked loss in WTI Oil put pressure on US markets. WTI Oil fell 3%. As such, Oil stocks were the largest losers on the New York Stock Exchange. Against the overall downward trend, Apple gained 2.4%. The US telecommunication company Sprint announced, that orders for the new iPhone had increased fourfold, compared to last year´s model. Asian markets trended lower, oil stocks performing worst. The USD gains 0.38% against the Yen and unchanged against the Euro. WTI retrace +.45%. Oil is unchanged.

Today´s numbers (CET):

• No data expected.

Corporate news:

• USA: Quarterly Earnings: No data expected.

 

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Ichimoku Cloud Analysis 21.02.2017 (GBP/USD, GOLD)

GBP USD, “Great Britain Pound vs US Dollar”

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Ichimoku Cloud is still heading down (2) and expanding; Chinkou Lagging Span is below the chart. Short-term forecast: we can expect resistance from Tenkan-Sen, and decline of the price towards W Tenkan-Sen.

GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are intersecting and forming “Dead Cross” (1); Tenkan-Sen is directed to the downside. Ichimoku Cloud is closing (2), Chinkou Lagging Span is below the chart, and the price is below the lines. Short-term forecast: we can expect resistance from Senkou Span B, and decline of the price.

XAU USD, “Gold vs US Dollar”

XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1) and D “Golden Cross” so far; Tenkan-Sen is directed to the downside. Ichimoku Cloud is very narrow, but still moving upwards (2), Chinkou Lagging Span is on the chart, and the price is on Kijun-Sen. Short‑term forecast: we can expect resistance from Tenkan-Sen, and attempts of the price to fix below the cloud.

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Fibonacci Retracements Analysis 24.02.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is trying to rebound from the correctional retracement of 50%. If the price does rebound from this level, the market may resume moving downwards to reach the downside target area at 1.0445 – 1.0440.

At the H1 chart, the correction retracement of 50% is confirmed by local fibo-levels. Consequently, on Friday the market may resume falling and break the previous low.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is testing the retracement of 78.6% again. If the price rebounds from this level, it may resume moving upwards. The closest target for bulls is the retracement of 50% at 0.8577.

As we can see at the H1 chart, the pair is testing the upside border of the closest group of fibo-levels. If the price rebounds from this target area, the market may start a new ascending movement and break the previous high.

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The Pound found support. Overview for 24.08.2017
24.08.2017
Two-day sales of the GBP/USD pair stopped; the market is following the news.

The British Pound stopped falling against the USD on Thursday. The current quote for the instrument is 1.2821.

The second estimate of the GDP Growth Rate in the second quarter 2017 showed that the indicator expanded by 0.3% q/q (1.7% y/y) and matched expectations. The components of the report show that despite the overall positive tone, the Household Spending is slowly decreasing. The same can be said about the Business Investment.

Both households and businesses are very “sensitive” structures. Slowdown in rate of growth here may later result in the same slowdown of the United Kingdom’s GDP itself. Of course, this is just one signal. In the second quarter 2017, the Import added 0.4% q/q and 1.8% y/y. In its turn, the Export increased by 1.5% y/y (valid only for goods).

The BBA Mortgage Approvals was 41.6K in July, which is more than the previous reading of 40.4K.

The CBI Distributive Trades plummeted in August up to -10 points. In July, the indicator was 22 points and was expected to fall up to 15 points. Since today’s reading is negative, it may signal some serious problems in sales. It already happened this year, in January, but later the situation got better.

 

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On Monday morning, USDJPY is trading downwards; the demand for the Yen may increase due to investors’ needs for “safe haven” assets.

The Japanese Yen is strengthening against the USD on Monday morning, although the pair is moving very carefully. The current quote for the instrument is 107.23.

Investors’ interest in “safe haven” assets revived after the USA, the UK, and France carried out a missile strike against some government installations in Syria. The reason for the strike was an assumption that these installations might produce chemical warfare. Anyway, the strike was single. Investors could have responded to this news more actively, but the strike was announced in advance, so they weren’t surprised by it at all.

Japan itself had something to offer the currency market. Investors barely paid attention to the information that the Bank of Japan wasn’t going to alter its monetary policy in the nearest future. Instead of this, they are very interested in media frenzy over the Japanese Prime Minister Shinzō Abe. According to Nippon TV, Abe’s rating is 27%, the lowest ever since he has held power.

Another opinion that comes from Asahi shows the other number, 31%. At the same time, the Cabinet of Ministers and its policy are supported by only 37% of the country’s population. There is no need to say that it’s very small number.

For the Yen, deterioration in relations between people and the acting government is a reason to grow, because any complications in politics and economy result in demand for “safe haven” assets.



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Fibonacci Retracements Analysis 23.04.2018 (GOLD, USDCHF)
XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the divergence made XAUUSD finish its ascending impulse, reverse, and start a new correction to the downside, which has already reached the retracement of 50.0%. The next short-term downside targets may be the retracements of 61.8% and 76.0% at 1329.40 and 1321.30 respectively. The support level is the short-term low at 1307.20; the resistance is the high at 1365.24.

In the H1 chart, XAUUSD is still being corrected to the downside towards the retracements of 61.8% and 76.0% at 1329.40 and 1321.30 respectively.

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is still moving upwards. The next upside target may be the retracement of 76.0% at 0.9837. At the same time, one can see the divergence being formed, which may indicate a possible reverse soon. In the future, the downside targets may be the retracements of 23.6%, 38.2%, and 50.0% at 0.9683, 0.9588, and 0.9511 respectively.

In the H1 chart, the uptrend continues towards the retracement of 76.0% at 0.9837.

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Japanese Candlesticks Analysis 23.04.2018 (GOLD, NZDUSD)
23.04.2018
XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD has completed the correction towards the support level and formed several Hammer and Doji reversal patterns there. At the moment, it may be assumed that the pullback is over and the instrument may continue growing.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, NZDUSD has finished the correction towards the support level and formed several Hammer, Doji, and Inverted Hammer reversal patterns there. Judging by the previous movements, it may be assumed that the pullback is over and the instrument may resume trading to the upside.

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Ichimoku Cloud Analysis 23.04.2018 (AUDUSD, NZDUSD, USDCAD)
23.04.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7672; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7700 and then continue moving downwards to reach 0.7605. Another signal to confirm further descending movement is the price’s rebounding from the downside border of the rising channel. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7750. In this case, the pair may continue growing towards 0.7840.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7206; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7245 and then continue moving downwards to reach 0.7150. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7305. In this case, the pair may continue growing towards 0.7410.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2753; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test the upside border of the cloud at 1.2685 and then continue moving upwards to reach 1.2880. Another signal to confirm further ascending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be cancelled if the price breaks the downside border of the cloud and fixes below 1.2560. In this case, the pair may continue falling towards 1.2470.

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Forex Technical Analysis & Forecast 23.04.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
23.04.2018
EURUSD, “Euro vs US Dollar”

EURUSD is forming another descending structure. Possibly, today the price may reach 1.2245 and then fall towards 1.2290. After that, the instrument may start another decline with the target at 1.2190.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed the first descending wave. Today, the price may consolidate near the lows. If later the market breaks this range to the upside, the instrument may be corrected to reach 1.4200; if to the downside – resume moving downwards with the short-term target at 1.3800.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has almost reached the target of the third ascending wave. Possibly, today the price may consolidate near the highs. If later the instrument breaks this range to the downside, the market may start another correction to reach 0.9550; if to the upside – continue growing towards 0.9898.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has almost reached the target of another ascending wave and may start another consolidation range near the highs. If later the instrument breaks this range to the downside, the market may be corrected to reach 106.75; if to the upside – continue trading to the upside towards 108.83.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has reached the first downside target another wave. Today, the price may form a new consolidation range near the lows. If later the market breaks this range to the upside, the instrument may correction to reach 0.7730; if to the downside – resume moving downwards with the target at 0.7570.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 61.20. Possibly, today the price may fall to expand the range towards 60.45 and then grow to return to 61.20. If later the instrument breaks this range to the downside, the market may continue trading to the downside to reach 58.15; if to the upside – resume growing towards 63.00.

XAUUSD, “Gold vs US Dollar”

Gold has reached the target of another descending wave. Possibly, the price may form another consolidation range. If later the market breaks this range to the upside, the instrument may be corrected to reach 1345.00; if to the downside – resume moving downwards with the target at 1320.00.

BRENT

Brent is still consolidating near the highs. If later the instrument breaks this range to the downside, the market may start another correction to reach 70.60; if to the upside – continue growing towards 75.88.

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Fibonacci Retracements Analysis 24.04.2018 (EURUSD, USDJPY)
24.04.2018
EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, EURUSD is forming a new descending impulse. If the instrument breaks the short-term low, the pair may trade towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2140 and 1.2092 respectively.

In the H1 chart, the downtrend is moving towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2140 and 1.2092 respectively.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY hasn’t been able to continue falling and right now is moving upwards to reach the retracement of 50.0% at 109.18 instead. The next upside target may be the retracement of 61.8% at 110.26. The support level is at 106.77.

In the H1 chart, the uptrend continue towards the retracement of 50.0% at 109.18.

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Japanese Candlesticks Analysis 24.04.2018 (USDCAD, AUDUSD)
24.04.2018
USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after reaching the resistance level, USDCAD has formed several Doji and Shooting Star reversal patterns there. At the moment, it may be assumed that the price may be corrected for a while before starting a new growth.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has reached the support level and formed several Hammer and Inverted Hammer reversal patterns there. At the moment, it may be assumed that these candlesticks indicate that the instrument may reverse.

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Forex Technical Analysis & Forecast 24.04.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
24.04.2018
EURUSD, “Euro vs US Dollar”

EURUSD has broken the consolidation range to the downside, expanded it, and reached the first target. Possibly, today the price may grow to break 1.2238 and then fall towards the short-term target at 1.1975.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has expanded its consolidation range to the downside and reached 1.3920. Today, the price may grow towards 1.3974 and then resume moving downwards with the short-term target at 1.3600.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is moving upwards. Possibly, the price may fall to reach 0.9733 and then start another growth with the short-term target at 0.9898.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has broken its consolidation range upwards and is still trading to the upside; it has reached the short-term target at 108.83. Possibly, today the price may start another consolidation range near the highs. If later the instrument breaks this range to the downside, the market may fall to reach 107.83; if to the upside – continue trading to the upside towards 109.85.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has broken its consolidation range downwards and right now is still forming the descending wave with the target at 0.7570. Today, the price may form a new ascending structure towards 0.7625. Later, the market may resume moving downwards to reach 0.7570.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 61.50. Possibly, today the price may fall to reach 61.16, thus forming another consolidation range. If later the instrument breaks this range to the downside, the market may continue trading to the downside to reach 58.15; if to the upside – resume growing towards 63.00.

XAUUSD, “Gold vs US Dollar”

Gold has broken 1332.00 downwards. Today, the price may form another ascending structure to reach 1329.00 and then resume moving downwards with the short-term target at 1308.00.

BRENT

Brent has broken 74.00 upwards and is still moving upwards. Possibly, today the price may reach 75.00 and then fall to return to 74.00. After that, the instrument may continue growing with the target at 75.88.

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Ichimoku Cloud Analysis 24.04.2018 (AUDUSD, NZDUSD, USDCAD)
24.04.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7607; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test the downside border of the cloud at 0.7660 and then continue moving downwards to reach 0.7530. Another signal to confirm further descending movement is the price’s rebounding from the downside border of the rising channel. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7680. In this case, the pair may continue growing towards 0.7750.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7117; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7135 and then continue moving downwards to reach 0.7050. Another signal to confirm further descending movement is the price’s rebounding from the channel’s upside border. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7205. In this case, the pair may continue growing towards 0.7310.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2831; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test the upside border of the cloud at 1.2770 and then continue moving upwards to reach 1.2930. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further decline may be cancelled if the price breaks the downside border of the cloud and fixes below 1.2705. In this case, the pair may continue falling towards 1.2620.

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Murrey Math Lines 24.04.2018 (AUDUSD, NZDUSD)
24.04.2018
AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD is expected to test the resistance at the 5/8 level, rebound from it, and then resume falling towards the support at the 4/8 one.

In the H1 chart, the price is expected to test the 2/8 level, rebound from it, and then continue falling to reach the support at the 0/8 one. Also, one shouldn’t exclude a possibility that the instrument may test the 3/8 level.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

In the H4 chart, NZDUSD is expected to fall towards the downside border of the consolidation range at the 3/8 level.

The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.

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Japanese Candlesticks Analysis 25.04.2018 (EURUSD, USDJPY)
25.04.2018
EURUSD, “Euro vs. US Dollar”

After falling towards the support level in the H4 chart, EURUSD has formed several Hammer and Harami reversal patterns there. Judging by the previous movements, at the moment it may be assumed that the price may be slightly corrected before starting a new descending movement.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY has reached the resistance level and formed several Shooting Star and Hanging Man reversal patterns below it. At the moment, it may be assumed that these patterns indicated a slight correction, after which the instrument may start a new growth.

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Fibonacci Retracements Analysis 25.04.2018 (GBPUSD, EURJPY)
25.04.2018
GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the divergence made GBPUSD reverse and start a new descending movement, which has already reached the retracement of 61.8%. The next downside targets may be the retracements of 76.0% at 1.3872 and the level of 1.3712. The resistance level is at 1.4124.

In the H1 chart, the pair is falling towards 1.3872 and has already been corrected by 23.6%. After the convergence, the instrument may reverse and start a new correction towards the current resistance area.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, EURJPY has already reached the retracement of 50.0%. The next upside target may be the retracement of 61.8% at 134.24. At the same time, one can see the divergence being formed. The support level is at 132.21.

In the H1 chart, the short-term divergence that is being formed may indicate a possible pullback to the downside to reach the retracements of 23.6%, 38.2%, and 50.0% at 132.42, 131.75, and 131.22 respectively.

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Forex Technical Analysis & Forecast 25.04.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
25.04.2018
EURUSD, “Euro vs US Dollar”

EURUSD has returned to 1.2240 and right now is still moving downwards. Possibly, today the price may break 1.2180. The short-term target is at 1.1970.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has returned to 1.4000. Today, the price may fall to break 1.3920. The short-term target is at 1.3720.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still moving upwards. Possibly, the price may reach 0.9860 and then start another consolidation range. After that, the instrument may break this range to the upside and then grow to reach 0.9898.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY continues growing. Possibly, today the price may break 109.18. The target is at 109.87. Later, the market may start another consolidation range near the highs.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues falling with the short-term target at 0.7570. After that, the instrument may form another consolidation range near the lows. If later the instrument breaks this range to the downside, the market may continue trading to the downside to reach 0.7420; if to the upside – start another correction towards 0.7777.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating and moving towards 61.17. If later the instrument breaks this range to the downside, the market may continue trading to the downside to reach 58.15; if to the upside – start another correction towards 63.00.

XAUUSD, “Gold vs US Dollar”

Gold has returned to 1331.00 downwards. Today, the price may continue trading to the downside to reach the short-term target at 1308.00.

BRENT

Brent is forming another descending impulse towards 72.85. Later, the market may grow to reach 74.00, thus forming another consolidation range. If later the instrument breaks this range to the downside, the market may start another correction to reach 71.00; if to the upside – resume growing towards 75.90.

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Murrey Math Lines 25.04.2018 (USDJPY, USDCAD)
25.04.2018
USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is expected to continue growing and break the resistance at the 8/8 level. In this case, the target will be at the +1/8 one.

As we can see in the H1 chart, the pair may continue moving upwards to reach the resistance at the +2/8 level.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading towards110.15.

USDCAD, “US Dollar vs Canadian Dollar”

In the H4 chart, USDCAD is expected to trade towards the 3/8 level.

As we can see in the H1 chart, the pair has rebounded from the 6/8 level. Later, the price is expected to move upwards to reach the resistance at the 8/8 one.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

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Fibonacci Retracements Analysis 26.04.2018 (AUDUSD, USDCAD)
26.04.2018
AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, the divergence made AUDUSD finish the uptrend, reverse, and start a new descending impulse, which has already broken the short-term lows and entered the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.7578 and 0.7539 respectively.

As we can see in the H1 chart, the convergence is being formed inside the post-correctional extension area. In this case, it may be assumed that the pair is getting ready for a new ascending correction. The possible targets of this correction are the retracements of 23.6, 38.2%, and 50.0% at 0.7612, 0.7651, and 0.7682 respectively.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the convergence made USDCAD reverse and start a new uptrend, which has already reached the retracement of 61.8%. The next upside target may be the retracement of 76.0% at 1.2980. The support level is at 1.2755.

In the H1 chart, the pair is being corrected downwards. The possible targets of this correction are the retracements of 23.6, 38.2%, 50.0%, and 61.8% at 1.2810, 1.2755, 1.2713, and 1.2670 respectively.

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Japanese Candlesticks Analysis 26.04.2018 (GOLD, NZDUSD)
26.04.2018
XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD has formed several Hammer and Doji reversal patterns. Judging by the previous movements, at the moment it may be assumed that the instrument may be corrected a bit before starting a new decline.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, NZDUSD has formed several Hammer and Inverted Hammer reversal patterns and right now continues falling. Judging by the previous movements, it may be assumed that the instrument may be slightly corrected and then continue trading to the downside.

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