1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Fxnet Technical Analysis On Major Currencies & Commodities

Discussion in 'Fundamental Analysis' started by fxnetltd, Nov 27, 2013.

  1. fxnetltd

    fxnetltd New Member

    Joined:
    Mar 7, 2013
    Messages:
    103
    Likes Received:
    4
    Occupation:
    VP for Marketing
    Location:
    Cyprus
    EUR/USD - European Session:

    [​IMG]

    Since the EURUSD stabilized above 1.3555 the upside bias is favored, and as shown on graph, the upside move might extend due to stability above Linear Regression Indicators and 50% correction. Despite overbought signals on momentum indicators, the upside move might extend towards 1.3625-30 today; a breach higher and stability above those levels might later extend gains.


    Support

    1.3580

    1.3555

    1.3505

    1.3470

    1.3420

    Resistance

    1.3625

    1.3600

    1.3710

    1.3745

    1.3780

    Recommendation

    Based on the above buy the pair above 1.3580, targeting 1.3625, 1.3710 then 1.3780 and stop-loss below 1.3505



    GBP/USD - European Session:

    [​IMG]

    Till now, the harmonic bearish Crab Pattern remains valid, and the pair is stable below top D around 1.6260, and the pair still did not acquire any of the pattern’s targets. At the same time, trading above 13% correction of CD leg weakens the downside move. Linear Regression Indicators are positive and that conflicts with negativity on Stochastic. We will accordingly stay on the sidelines in the European Session waiting for more confirmations.


    Support

    1.6205

    1.6165

    1.6100

    1.6070

    1.6030

    Resistance

    1.6225

    1.6265

    1.6305

    1.6340

    1.6370

    Recommendation

    We prefer to remain on the sidelines for now waiting for more confirmations



    USD/JPY - European Session:

    [​IMG]

    The pair is stable above the Linear Regression Indicators 34 and 55 and that supports the extension of gains. Consolidating above the previous set top at 101.53 offers positivity and offsets overbought signals on momentum indicators. For today, as far as 100.60 remains intact we favor more gains in the coming period.


    Support

    101.50

    101.15

    101.00

    100.60

    100.30

    Resistance

    101.80

    102.00

    102.50

    102.80

    103.10

    Recommendation

    Based on the above, buy the pair above 101.50 targeting 102.00, 102.50 then 102.80 and stop-loss at four-hour closing below 100.60



    EUR/JPY - European Session:

    [​IMG]

    The pair is testing the ascending channel’s resistance around 138.00 and as we mentioned yesterday, a confirmed breach to the upside will extend gains initially towards 140.00. A breakout below 137.05 will pressure the pair lower towards the ascending channels support. WE will observe the next four-hour closing for the mentioned levels to confirm the next move.


    **Trading range expected today is between the key support at 136.50 and key resistance at 139.50


    Support

    137.05

    136.45

    135.50

    134.80

    134.10

    Resistance

    138.00

    138.65

    139.00

    139.50

    140.00

    Recommendation

    Based on the above, buy the pair above 138.00 targeting 140.00 and stop-loss at four-hour closing below 137.05

    If the stop-loss was triggered, sell the pair below 137.05 targeting 136.00, 134.80 and stop-loss at four-hour closing above 138.00



    GOLD - European Session:

    [​IMG]

    Gold moved slightly lower yesterday, however remains above the 78.6 retracement level at 1235.00, where the bullish rebound scenario after forming a bullish candle stick pattern remains valid. A break above the descending resistance for the latest bearish wave would further confirm this scenario.

    ** Short term Trend (Trends that last from two weeks to two months)
    ** Chart is based on GMT+2 timing

    Notes:

    *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.
    *Support and Resistance levels should be treated as regions not precise numbers

    **This analysis follows a discretionary approach(opposed to rule based), and thus outlook and views shall change regularly according to latest price input.

    Support

    1240.00

    1235.00

    1220.00

    1210.00

    1200.00

    Resistance

    1246.00

    1252.00

    1261.00

    1270.00

    1280.00

    Recommendation

    Long above 1240.00, targets at 1252.00,1261.00 and 1280.00. Stop loss below 1234.00



    SILVER - European Session:

    [​IMG]

    Silver retreated yesterday, but remains above the low of the strong prior bullish engulfing candle, where a break below this low at 19.58 is necessary to reconsider shorting the metal and confirm further downside. The bullish candle suggests a potential rebound, and thus we look for a retest of 20.50 major broken support.

    ** Short term Trend (Trends that last from two weeks to two months)
    ** Chart is based on GMT+2 timing


    Notes:

    *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.

    *Support and Resistance levels should be treated as regions not precise numbers

    **This analysis follows a discretionary approach(opposed to rule based), and thus outlook and views shall change regularly according to latest price input.

    Support

    19.75

    19.50

    19.20

    19.00

    18.70

    Resistance

    20.00

    20.25

    20.60

    20.85

    21.05

    Recommendation

    Long above 19.75, targets at 20.25 and 20.55. Stop loss below 19.45.



    Crude OIL - European Session:

    [​IMG]

    WTI Crude Oil closed the trading session lower, moving back towards the bottom of the consolidation range shown on the daily chart above, so long as within this range the overall bias shall remain bearish as bearish trend remains intact, and a break below the bottom of the consolidation near 93.00 should confirm further downside. Only a break above 95.50 will signal a bullish rebound.

    ** Short term Trend (Trends that last from two weeks to two months)
    ** Chart is based on GMT+2 timing

    Notes:

    *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.
    *Support and Resistance levels should be treated as regions not precise numbers


    **This analysis follows a discretionary approach(opposed to rule based), and thus outlook and views shall change regularly according to latest price input.

    Support

    93.30

    93.00

    92.70

    92.00

    91.50

    Resistance

    93.65

    94.25

    94.70

    95.00

    95.50

    Recommendation

    Short below 94.00, targets at 93.10 and 92.00. Stop loss above 94.75
     
Loading...

Share This Page