Technical Analysis

AUD/USD downside break beckons as sellers continue to defend 100-day moving average

AUD/USD downside break beckons as sellers continue to defend 100-day moving average

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Sellers remain in control of the pair this week ForexLive Call it a timely coincidence but the negative shift in risk sentiment today couldn't come at a better time for AUD/USD sellers. Price has been knocking on the door of the 100-day MA (red line) over the past three days but ultimately, buyers appear to…
WTI crude oil nears the highs of the week

WTI crude oil nears the highs of the week

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Oil up 2.7% today WTI crude is up $1.40 to $52.55 today in part due to reports that Saudi has cut exports to the US scheduled for January. In the bigger picture, there isn't any reason to be particularly optimistic but there are some signs of a bottom; or at least a temporary one. Daily…
The USDJPY reaches target. Stalls.

The USDJPY reaches target. Stalls.

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Better jobless numbers got the ball rolling. As per the post,  That is where the price ended up going and stalling (high reached 113.704).   What now? The buyers have been in control, but the pair targeted. It hit the target and the momentum stalled.    If the buyers are going to remain in control, the…
GBPUSD “pongs” off the 100 hour MA area

GBPUSD "pongs" off the 100 hour MA area

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Pinged off the 200 hour MA earlier The GBPUSD moved up to the 200 hour MA earlier twice.  After the second "ping" off the MA level, the pair fell and ended up "ponging" off the lower 100 hour MA.  SO the pair is ping-ponging between the MA levels as the EU and UK try to work…
The GBP is the strongest. The JPY is the weakest as NA traders enter.

The GBP is the strongest. The JPY is the weakest as NA traders enter.

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The USD is mixed with a tilt to the downside The GBP is the strongest. The JPY is the weakest as NA traders enter for the day. The ECB just announced no change in rates, that they will halt new QE purchases, but will continue to reinvest maturing issues.  The SNB earlier kept their rates…
Dollar Hits an 18-Month High as Anti-Currency Demand Fights Liquidity

Dollar Hits an 18-Month High as Anti-Currency Demand Fights Liquidity

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Talking Points: The DXY Index hit an 18-month high intraday Friday with the 61.8% Fib of 2017-2018 range at 98 Liquidity will prove a crucial element for the Dollar to translate technical moves into productive trend See how retail FX traders are positioning in Dollar-based majors like EURUSD on the sentiment page Technical Forecast for…
AUD Prices May Fall Into 2019, AUD/CAD at Risk to Reversal Pattern

AUD Prices May Fall Into 2019, AUD/CAD at Risk to Reversal Pattern

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Talking Points – AUD/USD, AUD/CAD, AUD/NZD, Head and Shoulders AUD/USD extends near-term decline, more losses may be ahead for final moments of 2018 Meanwhile, AUD/CAD is overshadowed by a Head and Shoulders bearish reversal pattern AUD/NZD’s rise could be in vain as critical resistance areas held, foreshadowing decline Have a question about what’s in store…
GBPUSD Weekly Technical Outlook: Seven Weekly Bear Candles Dominate

GBPUSD Weekly Technical Outlook: Seven Weekly Bear Candles Dominate

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GBPUSD Technical Analysis Will the weekly chart make eight bear candles in a row heading into the Christmas break? A fresh 20-month low remains in sight. We have recently released our Q4 Trading Forecasts for a wide range of Currencies and Commodities, including GBPUSD with our fundamental and medium-term term technical outlook. Last Week’s GBPUSD…
EUR/JPY: Euro Extends Decline as Eurozone Growth Concerns Mount

EUR/JPY: Euro Extends Decline as Eurozone Growth Concerns Mount

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Yesterday’s slightly more dovish ECB statement and press conference saw the euro fall. And there has been further follow-through on the back of today’s publication of disappointing manufacturing and services sector surveys from the Eurozone, underscoring the ECB President Mario Draghi’s “increasing caution” outlook on the economy and highlight euro’s vulnerability. Bizarrely, though, ECB’s Nowotny…
WTI Oil Outlook: Improved Sentiment Keeps Oil at the Front Foot, But Directionless Mode Likely to Extend

WTI Oil Outlook: Improved Sentiment Keeps Oil at the Front Foot, But Directionless Mode Likely to Extend

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WTI oil price is a tad lower on Friday, holding within narrow range under one-week high at $53.24, posted after 3.1% rally on Thursday. Oil was boosted by optimistic forecasts from International Energy Agency for supply deficit expected in Q2 2019, against its previous report which showed expectations of surplus for the whole 2019. Fresh…

ANALYST PICKS

FX Setups for the Week of December 17, 2018

FX Setups for the Week of December 17, 2018

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FX Setups for the Week of December 17, 2018 - DailyFX Quarterly Forecasts have been updated for Q4, and are available directly from the following link: DailyFX Trading Guides, Q4 Forecasts. - For trading ideas, please check out our Trading Guides. And if you’re looking for something more interactive in nature, please check out our…
NZDCAD: Pending Short on Supportive Technicals

NZDCAD: Pending Short on Supportive Technicals

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NZDCAD – Pending Short at 92.55 – Recent December highs. Stop Loss – 93.80 Target 1 (50%) – 91.10 – 50% Fibonacci retracement. Target 2 (50%) – 89.20 – 61.8% Fibonacci retracement. The DailyFX Q4 Forecasts are available to download. NZDCAD – Long-Term Down Trend Remains in Place The recent oil bear market hit the…
EUR/USD Triangle Very Near Breakout; ECB the Catalyst?

EUR/USD Triangle Very Near Breakout; ECB the Catalyst?

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Looking for forecasts, trade ideas, and educational content? Check out the DailyFX Trading Guides page. EUR/USD triangle ready to break, ECB to do it? The narrowing range (triangle) was a focus last week, thinking it would have broken by now. But so far we remain awaiting a resolution. Today’s ECB meeting could be the catalyst,…
EURGBP: Trade Completed

EURGBP: Trade Completed

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*** Trade Completed *** Pending Long – 0.8835 --- Entered Trade on November 28. Stop Loss – 0.8790 Target 1 (50%) – 0.8935 -- Hit Target December 4. Target 2 (50%) – 0.8985 -- Hit Target December 10. The DailyFX Q4EURand GBP Forecasts are available to download. EURGBP – Solid Technical Support Nears A battle…