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Forex-analysis

USD/JPY OCT NFP WEEK Last week USD/JPY continued its uptrend with some strong momentum. Price has made its way all the way up to major resistance zones. After some slight rejections we could see a retest and then some consolidation between a support zone. It doesn't seem likely for a breakout just yet as we have been trending strongly and need some time for accumulation of orders before further price movements. We could see a directional breakout due to the many fundamental events on the calendar for this week including NFP Friday Oct 6. Regardless of these fundamental events our zones are plotted and most importantly we have a plan.
by nick.trader4
USD/JPY- Post FOMCUSD/JPY has been on a strong rally since breaking a major support a few weeks ago. Since then price has had a lot of bullish momentum helped by hawkish FOMC statements from the Fed and has risen quickly to a major daily resistance zone. Seeing how price reacted to this zone at the end of the week shown some rejection and a break in the minor support and TL. We then moved to a major support zone and started some consolidation. This week I would look for a retest of the new resistance and TL this could be a possible sell setup if we don't move past that zone. We have a lot of fresh zones created from the move up so these will fill up in time and we can use these for downtrend targets. Some consolidation is also a possibility due to the quick rise in prices over a short period of time. We can use the correlations with gold to get the best timing possible to get on a move which ever way it goes. Longer term fundamentally we could see a softer dollar due to rising geopolitical issues but the good news is that the Fed sounded fairly hawkish in its plans to continue to raise rates and balance fiscal policy.
by nick.trader4
USD/JPY- Out of the SlumpThe past few weeks have seen very little bullish price action on USDJPY and at the end of last week we set a new low for 2017. This new low has been a good buying opportunity for dollar bulls as price action was very bullish this week breaking resistance zone after zone. This week we could see a continued push up for USD as the momentum and the bounce off major support could indicate this. The overall target could run to around 112. We have major fundamentals with FOMC mid week Wednesday so this could dictate further price action direction. A retest of the trendline or 14/50 EMA on 4hr chart could be a good buying opportunity to take price higher.
by nick.trader4
XAU/USD (GOLD) - Trend Analysis Gold has been very bullish over the past few weeks making new highs in 2017, however this past week we have seen some (not all) of this bullish momentum slow down as we bounced off a major resistance past 1350 late last week. Since this happened, this weeks price action has actually been bearish and right now we can see that we are in a descending channel approaching a support that was tapped last week. With sufficient bearish momentum we should break this level around 1315 and head back to 1300. The other possibility is the 1315 level holds and we move out of the channel and maybe make a series of higher highs and higher lows, restarting the uptrend to new highs. A catalyst for one of these moves could be the FOMC meeting this Wednesday.
OANDA:XAUUSD
by nick.trader4
USD/JPY Melted Last week USD/JPY finally broke past its major support around 108 level to drop to fresh lows for 2017. There is no support in sight expect a late year Trump rally in November 2016. Maybe we will start to trend lower for some coming months late in the year like last year after consolidation for most of 2017. This week though we should still see some continued move down. Possible retracement after such a large drop is possible as well which could provide as new selling opportunities as this old support will now act as a major resistance level. This breakout looked imminent over the last couple weeks price action.
by nick.trader4
Short AUDNZD/Analysis We are preparing for AUDNZD shorts. All we have to see is a clear break of this ascening trendline. A clear break on hourly or H4 timeframe will open much space to the bottom. We are patiently waiting and only rely on technical facts. If there's no break we simply won't enter. A breakout to the top could signal a buy. Español: Nos preparamos para Cortos en AUDNZD. Necesitamos ver una ruptura clara en la línea de tendencia. Si ocurre la ruptura, buscaríamos alguna confirmación para nuestra entrada enmarcos de una o 4 horas. Nos mantenemos esperando tranquilamente unos guiamos por hechos técnicos solamente. Si no hay ruptura, no entrarémos. Una ruptura en el tope podría indicar compra
Short
by EryxCapital
EURUSD Levels to WatchEURUSD - Watch levels 4H to 1D/2D Current Consolidation phase near 1.1900 levels Firm break below 1.1860 possible signal to 1.1823, followed by 1.1780 Firm break above 1.1920 possible retest of 1.2000 R3 1.2000 R2 1.1965 R1 1.1920 S1 1.1860 S2 1.1820 S3 1.1785 * Personal analysis only. Please use your own rules and strategies prior to entering market. ** Forex trading involves HIGH RISK. Before entering a trade, carefully consider your objectives, financial resources and level of experience.
by ALSM59
GOLD BROKE 1300 ELECTION WICK FILLLast week gold had a nice market structure and followed analysis very well as I was anticipating a breakout past 1300 after previous weeks consolidation underneath this major zone. Since there was some geopolitical issues between the USD and NK gold had an extra shot of strength in its bullish trend. After this major push price needed to retrace as profit taking was going on. Price returned for the first time back to the FTR zone at 1300 (major zone) this was a good buy opportunity as price rejected 1300 to keep prices above it. After returning to the previous high price was in consolidation after NFP produced some whipsaws that are dangerous for retail traders (traps). Price still has bullish momentum based on the EMA cross and spread. Also USD has a down bias and although USD/JPY inversely correlated pair has been moving up as well over the short term we could see a small retracement or accumulation before continuation. Ultimately the massive liquidity wick created back last November on US elections day could be filled as we move towards 1330-1335 area.
OANDA:XAUUSD
by nick.trader4
USD/JPY- Start of Bullish Market Structure. Based on this UJ 4hr chart we can see a few things that are showing some signs of a trend change. We had a double bottom pattern form in a major daily support zone with the 2nd leg shooting off after a positive NFP release. Also a 3rd touch on a ascending trendline can be observed on the daily chart. Another thing to note is the EMA starting to slow down and move sideways after a long momentum filled push down. We saw price break above the 14ema and find resistance at the 50 ema now if prices are to move up we should use the 14EMA as a new support zone. I have indicated the target zones/areas for a potential upswing.
Long
by nick.trader4
EURGBP Near Term Move - 9 August 2017EURGBP made a recent high of 0.9087 on 8 August 2017 after coming out from a recent low of 0.8742 on 14 July 2017. A technical formation known as shooting star was formed on 8 Aug 2017 and the question is whether investors should initiate a bearish move on this cross. Based on our forecast and the directional bias up to this point, it would appear that there is an immediate bearish bias on this cross and if such bearish momentum continues, we could potentially see this cross retrace to 0.8955 level as our first target and if this level is broken, 0.8915 as our second target. On the other hand, the overall trend on this cross remains an uptrend. Investors who believe that this uptrend continues and see potential price target at 0.9180 at the first level and 0.9300 at the second level. DISCLAIMER Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment. Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance on the information in our research materials.
by NinjaSingapore