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Gold, Silver, Oil Weekly Analysis
Gold Weekly Review

Weekly Review:

For the past three weeks Gold has traded short following a bounce from a the weekly resistant level 117735. Following the previous week's downward movements, we are very reluctant to go long, however, the size of the previous week's red candle indicate that, although we are headed short, the downward movement may be short lived probably only up to lower support trend line. Any clear movements below this trend line will signal further downward movements to the lower side. We will however be looking for long positions along this supportive trend line.
Trade Recommendations:
If you haven't sold gold already, wait and sell below 1064.77 but with out targets at 1041.33, and the next target at the support trend line.

Silver Weekly Review


Weekly Review:

Since Silver bounced of from a resistive trend line at 16.038, the commodity has continually headed short, The commodity even ended up closing below a very significant support level 14.33. Following this downward movements, we are very reluctant to go long, instead we will remain short but with an ultimate stop at the lower supportive trend line. Any movements below this support trend line will signal further movements to the lower side.
Downward movements in other commodities such as Gold, will signal similar downward movements in silver. These commodities are positively correlated are thus expected to follow similar price movements.
Trade Recommedations:
Remain short in the silver markets but with an ultimate stop at the lower supportive trend line. Any clear movements will signal further movements to the lower side.

Oil weekly Review


Weekly Review:

For the past six weeks, after oil bounced off from a key weekly resistant 49.64, the commodity has continued short and is currently trading along a very significant support level 40.41. Following the massive downward movements witnessed during the previous week, we are very reluctant to execute long positions. However, we will be keen to look for further short positions below 36.77. This downward movements is highly anticipated since since other commodities such as Gold has been short for almost three weeks, meaning as long as gold continues short, oil and other commodities may as well be headed short. Gold, Silver, and oil appear to have positive correlation.
In an event that bullish candles appear above 40.41, then we will be looking for potential buy positions. this would only mean the demand has began to outdo supply of the commodity.
Trade Recommendation:
Remain short but only up to 36.77, any clear movements below this level will signal further movements to the lower side.

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USD/JPY for 22 April 2016

Expect this pair to trade in the higher ranges during this intraday. As long as the pair trades above 111.29, Expect an upward rally towards 111.63

GBP/JPY For 22 April 2016

Expect the pair to trade in the higher ranges. As long as the pair trades above 159.6, look for long positions with your target at 166.22

USD/JPY Technical Levels for April 22, 2016

Resistance: 109.90.

Resistance.109.69

Resistance.109.47

Support. 109.21

Support. 108.91

Support. 108.78

EUR/USD Technical Levels for April 22, 2016

BUY Level 1.1345

Resistance 1.1339.

Resistance 1.1328.

Sell 1.1318

Buy 1.1265.

Support 1.1254.

Support 1.1235.

SELL Level 1.1237.

USD/CAD Technical for April 22, 2016

1.2592 Intraday Support

1.2644 WS2

1.2749 Intraday Resistance

1.281 WS1

1.2912 Weekly Pivot

1.2990 Intraday Resistance

1.3081 WR1

1.3180 WR2

EURUSD Elliot Waves Analysis For 26 May 2016
26 May 2016, EUR/USD

Wave Analysis:
EUR/USD is currently trading with a strong bullish bias. Yesterday, the pair made a marginal higher high and even broke above 1.1166. Following this breakout, we expect further momentum to the upper side but should not close above 1.12177. This view remains valid as long as the pair trades above 1.1166, a clear breakout below 1.1166 and also below 1.1138 will lead to an acceleration to the lower side. This pair should be traded alongside EUR/CHF, GBP/USD, and AUD/USD. These pairs have a strong positive correlation of up to +0.85 and will likely have a similar price action during this week.
Trade Recommendations:
Wait for minor downward pullbacks towards 1.1166, then go long with your target at 1.12177. Sell positions are only ideal below 1.1138 with you ideal target at 1.1099.

Check the website for more information: https://freshforex.com/a...nalysis/issue_77660.html 

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EURUSD Elliot Waves Analysis For 3 June 2016

03 June 2016, EUR/USD

EURUSD Elliot Waves Analysis For 3 June 2016
Wave Analysis

EUR/USD is currently trading with a slight bullish bias. Yesterday, wave (5) ended a bit earlier than expected and even closed below our target resistance level 1.12177, before heading massively short. Following the break below 1.1160, we expect the current upward rally to be a mere corrective upward rally and should not close above 1.1166, a break above this level may lead to an upward rally towards 1.1192 but should not close above 1.12177. Ideally, this pair is in an overall downward trend and may accelerate towards 1.1104 upon rebounding from the zone 1.1160-1.1166. This pair should be traded alongside Gold, EUR/GBP, and Silver. These commodities and Currencies have a strong positive correlation of up to +0.90 and will have a similar price action during this intraday.

Trade Recommendations:

If you are not short already, wait for the current upward rally to go short with your ideal target at 1.11045. Buy positions are only ideal if the current pullback close above 1.1166. If the latter is the case, then buy the pair with your targets at 1.1192 and 1.1217.
Check the website for more information: https://freshforex.com/a...nalysis/issue_81681.html 

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EURUSD Elliot Waves Analysis For 8 June 2016

08 June 2016, EUR/USD

EURUSD Elliot Waves Analysis For 8 June 2016
Wave Analysis

EUR/USD is currently ranging around 1.1377. As expected yesterday, this pair is in a process of a triangular formation. Thus, during this intraday, we are not in a hurry to go short or long instead, we are waiting for a break above the triangle to go long or a break below it to short.A break above 1.1377 is highly likely, though we cannot rule out the possibility of price moving in an opposite direction. This pair should be traded alongside EUR/GBP, and AUD/USD. These pairs have a strong positive correlation of up to +0.95 and will have a similar price action during this intraday.

Trade Recommendations:

Remain flat for now and wait for a clear breakout above 1.1377 to go long with your target at 1.1438 or a break below the lower trendline forming bottom of the triangle to go short with your target at 1.1324 and 1.1263.
Check the website for more information: https://freshforex.com/a...nalysis/issue_81736.html 

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Daily Forex market review 29 June 2016

https://www.youtube.com/watch?v=1X3841ACY_c 

EUR/USD (Euro/dollar pair)

US GDP for the first quarter was revised to the positive direction, and June's index of consumer confidence from the Conference Board rose to its highest level for the 8 months. Thus, economic growth ha accelerated in the United States, which favors US dollar.
- ADX on the daily, 4-hours and the hourly charts indicates a flat.
- RSI on the daily, 4-hours and the hourly charts indicates a flat as well.
- We should open Sell positions at 1.1100 (one eleven double zero) and 1.1150 (one eleven fifty). As for Take profit orders, we should set them at 1.1040 (one ten forty) (area of the lower Bollinger bands indicator on the hourly chart).
GBP/USD (Pound/dollar)
- On 27 and 28 of June two largest international rating agencies Standard & Poor's and Fitch downgraded the UK's rating, that will force outflow of capital from the country.
- ADX on the daily, 4-hours and the hourly charts indicates a flat.
- RSI on the daily, 4-hours and the hourly charts indicates a flat as well.
- The pair is in the flat, cause large market participants continue to build up short position in the market.
- We should open Sell positions at 1.3390 (one thirty three ninety) and 1.3500 (one thirty five double zero). As for Take profit orders, we should set them at 1.3240 (one thirty two forty) (area of strong support level).
USD/JPY (Dollar/Japanese Yen)
- On tuesday the fear index S&P500 VIX showed a decline in the rate of 21.3% (twenty one dot three per cent) It indicates an increase in demand in risky assets and allows bulls testing the upper border within the range 101.39 -103.25. (one hundred and one dot thirty nine - one hundred and three dot twenty five)
- ADX on the daily chart indicates a strong downtrend; whereas, on the 4-hour and the hourly charts it shows flat.
- RSI on the daily, 4-hours and the hourly charts indicates a flat.
- We should open Sell positions at 102.80 (one hundred and two dot eighty) and 103.20 (one hundred and one dot twenty) (area the upper Bollinger bands on the hourly chart) As for Take profit orders, we should set them at 102,00 (one hundred and two sharply) (area of the lower border Bollinger bands indicator on the hourly chart).

More information: https://freshforex.com/a...video-analytics_201.html 

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Daily Forex market review 30 June 2016



EUR/USD (Euro/dollar pair)
US report on private consumption for May indicates acceleration of economic growth in the second quarter, which is positive for US dollar.
- ADX on the daily and 4-hour charts indicates a flat, on the hourly chart it is nearing the downtrend zone.
- RSI on the daily, 4-hour charts and the hourly chart indicates a flat.
- We should open Sell positions at 1.1140 (one eleven forty) and 1.1180 (one eleven eighty) (area of the upper Bollinger band on the hourly chart). As for Take profit orders, we should set them at 1.1060 (one ten sixty) (area of the lower border on the Bollinger bands indicator on the hourly chart).
GBP/USD (Pound /dollar)
- In credit markets, yield of the 10-years' UK government bonds has dropped against their counterparts from the USA and Germany, which makes investments in British assets less attractive. The bond market still conveys that sales of the pound are not over yet.
- ADX on the daily and 4-hour charts indicates a flat, on the hourly chart it is nearing the downtrend zone.
- RSI on the daily, 4-hour charts and the hourly chart indicates a flat.
- We should open Sell positions at 1.3480 (one thirty four eighty) and 1.3530 (one thirty five thirty) (area of the upper Bollinger band on the hourly chart) As for Take profit orders, we should set them at 1.3350 (one thirty three fifty) (area of the lower Bollinger band indicator on the hourly chart).
USD /JPY (Dollar/Japanese Yen)
- Despite a strong growth of stock indices since the beginning of the trading week (for example, Nikkei 225 rose by 4.11% (four dot eleven per cent) and the Euro Stoxx 50 by 2.02% - two dot zero two per cent), the pair has completely ignored this positive background and demonstrated a modest growth by 0,3% (zero fot three per cent) . This indicates a large number of sellers on the market.
- ADX on the daily chart indicates a strong downtrend; whereas on the 4-hour chart and hourly charts it indicates a flat.
- RSI on the daily, 4-hour charts and the hourly chart indicates a flat.
- We should open Sell positions at 102.90 (one hundred and two dot ninety) and 103.30 (one hundred and three dot thirty) (area the upper Bollinger band on the hourly chart). Open Take profit orders at 101.50 (one hundred and one dot fifty) (area of the lower border Bollinger band on the 4-hour chart).

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Daily Forex market review 05 July 2016



EUR/USD (Euro/dollar pair)
- on Monday the Italian government said that is not going to solve problems of credit institutions at the expense of state. Problems in Italian banks (and not only they alone) and a lot of investors began to sell banks' shares in a hurry, which is negative for the euro.
- ADX on the daily chart shows the flat; whereas on the hourly chart it shows the downtrend.
- RSI is out of the oversoldness area and allows us holding Sell trades.
- Recommendation: We should open Sell positions from 1.1140 (one eleven forty) and 1.1170 (one eleven seventy) (area of the middle and upper Bollinger bands, respectively). Set take profit at 1.1097 (one ten ninety seven) (a strong support).
GBP/USD (Pound /dollar)
- PMI index of the UK construction sector in June fell to its lowest level since October 2009 (two thousand and nine). In our opinion, this is just the beginning. Further we will receive an entire portion of weak macroeconomic statistics, cut of the rate by the Bank of England, increase of the QE (Quantitative Easing) package and decline of the pound to new multi-years Lows.
- ADX on the daily chart shows the flat; the hourly chart shows the downtrend.
- RSI on the hourly chart is in the oversoldness area, signaling a possible upward correction.
- Recommendation: We should open Sell positions from 1.3260 (one thirty two sixty) and 1.3305 (one thirty three zero five) (area of the middle and upper Bollinger bands, respectively). Set take profit at 1,3119 (one thirty one nineteen) (a strong support)
USD/JPY (Dollar/Japanese Yen
- "Risk appetite" has dropped again, which plays into the hands of bears. Once again, dark clouds are above the European banking sector: the Italian government refused to provide banks with additional liquidity. The management of Deutsche Bank does not know what to do with bad assets. Very often, crises begins with the banking sector. In 2008, it were the US banks, now, 8 years later, apparently, it will be the European financial institutions.
- ADX on the daily chart shows the flat; whereas on the 4-hour and hourly charts it shows the downtrend chart.
- RSI hourly chart has formed a divergence in the oversoldness zone, indicating the upward correction.
- Recommendation: We should open Sell positions from 102.30 (one hundred and two dot thirty) and 102.65 (one hundred and two dot sixty five) (the area of the middle Bollinger band). Set take profit at 100,82 (one hundred sharply dot eighty two (a strong support)

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Daily Forex market review 13 July 2016



EUR/USD (Euro/dollar pair)

- In credit markets, yield of the 10-years' German government bonds is declining as compared to US and UK bonds. It makes investment in European assets more attractive.
- ADX on the daily and hourly charts shows the flat.
- RSI on the daily and hourly charts shows the flat, too.
- Recommendation: trade inside the flat 1,1010 -1,1110 (one ten ten – one eleven ten) (the bottom Bollinger band on the hourly chart).
GBP/USD (Pound/dollar)
- On credit markets, yield of the 10-years' UK government bonds is declining as compared to US and German bonds. It makes investment in British assets less attractive. It is impossible to ignore the press releases of many UK banks stating that on Thursday the Bank of England will make a step ahead and lower rate by 0.5% (zero dot five per cent).
- ADX on the daily and hourly charts shows the flat.
- RSI on the 4-hours and hourly charts is overbought and has formed a divergence, it is the downtrend.
- Recommendation:We should open Sell positions from 1.3315 (one thirty three fifteen) and 1.3355 (one thirty three fifty five) (area of the upper Bollinger band on the hourly chart) and take profit at 1,3235 (one thirty two thirty five) (area of the bottom Bollinger band on the hourly chart).
USD/JPY (Dollar/Japanese Yen)
- Stock markets are optimistic: US S&P500 index is storming new Highs, which contributes to growth of the currency pair. However, there is one factor which casts doubt on future growth of the stock markets - it is though moderate, but growing fear index VIX S&P500. This index is growing for the second day in a row, that signalsabout the downward correction.
- ADX on the daily and hourly charts shows the flat.
- RSI on the daily and hourly charts shows the flat, too.
- Recommendation: trade inside the flat 103,50 (one hundred and three dot fifty) -105,00 (one hundred and five sharply) (the range of Bollinger bands on the hourly chart).
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Daily Forex market review 28 July 2016



EUR/USD (Euro/dollar pair)

- On the bond market, trend for euro is still negative: spread of yield of the 10-years' US and German bonds is expanded. It makes investment in US assets more attractive.
- ADX indicator on the 4-hours' chart shows the uptrend; whereas on the hourly chart it shows the flat.
- RSI indicator shapes divergence in the overboughtness zone on the hourly chart, which means the downtrend
- Recommendation: trade inside the flat 1.1030 -1.1130. (one ten thirty – one eleven thirty)
The next pair - GBP/USD (Pound/dollar)
- The day before, traders ignored strong report on UK GDP for the second quarter. It proves a large number of sellers in the market. Another negative factor for the pair is sales on the oil market. The day before, US Department of Energy reported an increase of crude oil reserves by 1.6 (one dot six) million barrels – and that was after a nine-weeks' drop of reserves.
- Both indicators - RSI and ADX - show the flat on the daily, 4-hours and hourly charts
- Today, there is the flat range 1.3060 -1.3250 (one thirty sixty - one thirty two fifty) (which corresponds to Bollinger envelope on the hourly chart)
- Recommendation: We should open Sell trades from 1.3250 (one thirty two fifty) , and take profit at 1,3100 (one thirty one double zero).
And finally, USD/JPY (Dollar/Japanese Yen)
- Multidirectional vector of monetary policy of the US and Japanese Central Banks leaves investors no choice but to building long positions on decline of the price. Dynamics of the US stock market also indicates a continued uptrend: the day before, the fear index VIX closed the day in the "red zone", which is a positive factor for the stock market.
- ADX indicator on the daily chart shows the uptrend; whereas on the hourly chart it shows the downtrend.
- RSI indicator shapes divergence in the oversoldness zone on the hourly chart, which means the uptrend
- Recommendation: We should open Buy trades from 104.50 (one hundred and four dot fifty) and take profit at 105,50. (one hundred and five dot fifty)

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Daily Forex market review 2 August 2016



EUR/USD (Euro/dollar pair)
- On the one hand, sales on the commodity market will support the US currency, as the cost of commodities is denominated in USD. On the other hand, weak PMI on the UK manufacturing sector can have a positive impact on EUR/GBP (euro/pound) cross-rate. In its turn, it is positive for EUR/USD, so we expect a flat on this pair.
- ADX indicator on the daily and 4-hours charts shows the uptrend.
- RSI indicator on the 4-hours chart is overbought, which means the downtrend.
- Recommendation: trade inside the flat 1.1150 -1.1210 (one dot eleven fifty - one twelve ten)
The next pair - GBP/USD (Pound/dollar)
- Today, Markit information company will publish PMI report on the UK construction sector. Taking into account Brexit, we can expect release of weak data. Political risks jeopardize commercial and residential property markets. Sales are still observed on the oil market and Brent quotations are to test the psychological level $40/barrel, which means the downtrend.
Both indicators – ADX and RSI – on the daily, 4-hour s and hourly charts show the flat.
- Recommendation: Open Sell trades at 1,3220 (one thirty two twenty) and take profit at 1,3140 (one thirty one forty)
And finally, USD/JPY (Dollar/Japanese Yen)
- The day before, the "fear" index VIX S&P five hundred 500 grew by 6%. In Europe, leaders of the most notable decline were shares of the banking sector including Italian shares. The outflow from risky assets will cause the inflow of capital into the Japanese yen, which means the downtrend.
Both indicators – ADX and RSI – on the daily, 4-hour s and hourly charts show the flat.
- Recommendation: Open Sell trades at 102.45 (one hundred and two dot forty five) and take profit at 101.90 (one hundred and one dot ninety).
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Daily Forex market review 2 August 2016



EUR/USD (Euro/dollar pair)
- Today the United States will publish the reports on employment from ADP and business activity in the field of services from ISM. Taking into account the fast economic growth, both indicators may be better than the consensus forecast, which is positive for US dollar.
- ADX indicator on the daily and 4-hours charts shapes the uptrend; whereas on the hourly chart it shows the downtrend.
- RSI indicator on the 4-hours chart is in the overboughtness area and has formed a divergence there, which means the downtrend.
- Recommendation: trade inside the flat 1.1150 -1.1210 (one dot eleven fifty - one twelve ten) .
The next pair - GBP/USD (Pound/dollar)
- In the afternoon, we will probably see the negative release on crude oil reserves from the US Department of Energy. It will put the oil under pressure and in this regard, we can see the demand in the US currency, as the cost of commodity is denominated in US dollars.
- ADX indicator on the daily and 4-hours charts shows the flat; whereas on the hourly chart it shows the downtrend.
- RSI indicator on the daily, 4-hours and hourly charts shows the flat
- Recommendation: Open Sell trades at 1,3365 (one thirty three sixty five) and take profit at 1,3265 (one thirty two sixty five).
And finally, USD/JPY (Dollar/Japanese Yen)

- An outflow of capital from risky assets supported the Japanese yen as a funding currency. The day before, on US stock market, the index of "fear" VIX S&P500 grew by 7.4% (seven dot four per cent), which means the downtrend.
- ADX Indicator on the monthly and weekly charts shows the downtrend; on the daily, 4-hours and hourly charts it shows the flat
- RSI indicator on the daily and hourly charts shows the flat.
- Recommendation: Open Sell trades at 101.30 (one hundred and one dot thirty) and take profit at 100.60 (one hundred sharply dot sixty)
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Daily Forex market review 2 August 2016



EUR/USD (Euro/dollar pair)
- Today the United States will publish the reports on employment from ADP and business activity in the field of services from ISM. Taking into account the fast economic growth, both indicators may be better than the consensus forecast, which is positive for US dollar.
- ADX indicator on the daily and 4-hours charts shapes the uptrend; whereas on the hourly chart it shows the downtrend.
- RSI indicator on the 4-hours chart is in the overboughtness area and has formed a divergence there, which means the downtrend.
- Recommendation: trade inside the flat 1.1150 -1.1210 (one dot eleven fifty - one twelve ten) .
The next pair - GBP/USD (Pound/dollar)
- In the afternoon, we will probably see the negative release on crude oil reserves from the US Department of Energy. It will put the oil under pressure and in this regard, we can see the demand in the US currency, as the cost of commodity is denominated in US dollars.
- ADX indicator on the daily and 4-hours charts shows the flat; whereas on the hourly chart it shows the downtrend.
- RSI indicator on the daily, 4-hours and hourly charts shows the flat
- Recommendation: Open Sell trades at 1,3365 (one thirty three sixty five) and take profit at 1,3265 (one thirty two sixty five).
And finally, USD/JPY (Dollar/Japanese Yen)

- An outflow of capital from risky assets supported the Japanese yen as a funding currency. The day before, on US stock market, the index of "fear" VIX S&P500 grew by 7.4% (seven dot four per cent), which means the downtrend.
- ADX Indicator on the monthly and weekly charts shows the downtrend; on the daily, 4-hours and hourly charts it shows the flat
- RSI indicator on the daily and hourly charts shows the flat.
- Recommendation: Open Sell trades at 101.30 (one hundred and one dot thirty) and take profit at 100.60 (one hundred sharply dot sixty)
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Daily Forex market review 2 August 2016



EUR/USD (Euro/dollar pair)
Spread between yield of 10 years' US and German bonds is expanded, which is negative for euro. Oil correction will be short-term and soon we will see another drop of quotations to the psychological level $40 per barrel, which is negative for euro, too. So, this is the downtrend.
- ADX indicator on the 4-hours and hourly charts shows the downtrend.
- RSI indicator on the hourly chart has formed a divergence and this was done in the oversoldness zone. So, it shows the uptrend on the hourly chart.
- Recommendation: Open Sell trades at 1,1165 (one dot eleven sixty five) and take profit at 1,1100 (one dot eleven double zero).
The next pair - GBP/USD (Pound/dollar)
- The main event today will be announcement of results of the Bank of England's meeting on monetary policy. If the Bank of England cuts the rate, this may cause a fall of the British currency. If the rate remains at the same level, the pound may grow.
- ADX indicator on the 4-hours and hourly charts shows the flat; on the hourly chart it shows the downtrend.
- RSI indicator on the daily, 4-hours and hourly charts shows the flat.
- Recommendation: If the Bank of England cuts the rate, we should open Sell positions so that take profit in 100 points.
If the Bank of England does not cut the interest rate, we should open Buy position so that take profit in 50 points.
And finally, USD/JPY (Dollar/Japanese Yen)
- Today's trading results will be determined by the "risk appetite" of investors. On Wednesday, the shares of Deutsche Bank were excluded from the Euro Stoxx 50 index. The reason was a heavy drop of its capitalization. This is another wake-up call for players of the stock market as Deutsche Bank is a financial institution number one in Europe. So, this is the downtrend.
- ADX indicator on a monthly and weekly charts shows the downtrend. On the hourly chart, it is the uptrend
- On the hourly chart RSI indicator is approaching the oversoldness zone, which indicates that the upward correction is over.
- Recommendation: Open Sell trades at 101.70 (one hundred and one seventy) and take profit at 101.00. ( (one hundred and one sharply)
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Daily Forex market review 5 August 2016



EUR/USD (Euro/dollar pair)
- If we see a total NPF figure above the 200 (two hundred thousand), that will be enough to strengthen the US currency. This result is very probable, because in July the number of applications for unemployment benefits fell to its lowest level since 1973 (nineteen seventy three), which means the downtrend.
- ADX indicator on the daily and the hourly charts shows the uptrend; whereas on the 4-hours chart it shows the downtrend.
- RSI on the daily, 4-hours and hourly charts shows the flat.
- Recommendation: trade inside the flat 1,1080-1,1180 (one ten eighty – one eleven eighty).
The next pair - GBP/USD (Pound/dollar)
- The Bank of England has cut the key rate by 0.25% (zero dot twenty five per cent) and enhanced its QE program. It intends to lower the rate again later this year. GDP forecasts for 2016 - 2018 years were revised in the negative direction, which means the downtrend.
- ADX indicator on the daily and 4-hours charts shows the flat; on the hourly chart it shows the downtrend.
- RSI on the daily, 4-hours and hourly charts shows the flat.
- There is a strong bearish candle formed on August 4, which means the downtrend.
- Recommendation: Open Sell trades at 1,3145 (one thirty one forty five) and take profit at 1,3065 (one thirty one sixty five).
And finally, USD/JPY (Dollar/Japanese Yen)
- Global stock markets are growing, which should lift the pair, but traders ignored positive background. It indicates presence of a large number of sellers in the market, which means the downtrend.
- ADX indicator on the daily and 4-hours charts shows the flat; whereas on the hourly chart it shows the downtrend.
- RSI on the daily, 4-hours and hourly charts shows the flat
- Recommendation: trade inside the flat 100,60-101,60 (one hundred dot sixty - one hundred and one sixty)
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Daily Forex market review 2 August 2016



EUR/USD (Euro/dollar pair)
- Yield of the 10-years' German bonds (paragon bonds for the euro zone) has dropped against US and UK bonds, which usually is a negative factor for euro, whether it is paired with dollar and pound . So, it is the downtrend.
- ADX indicator on the daily chart shows the uptrend; whereas on the 4-hours and hourly charts it is the downward trend.
- RSI indicator on the hourly chart is heavily oversold, so this is a signal of an upward correction.
- Recommendation: Open Sell trades at 1,1308 (one thirteen zero eight) and take profit at 1,1280 (one twelve eighty).
The next pair - GBP / USD (Pound/dollar)
- Yield of the 10-years' UK bonds is growing against US and German bonds. It makes investments in British assets more attractive. So, it is the uptrend.
- ADX indicator on the daily and the hourly charts shows the flat; whereas on the 4-hours chart, the trend is downward.
- RSI indicator shows the flat on the daily, 4-hours and hourly charts.
- Recommendation: trade inside the flat 1.3015 -1.3095 (one thirty fifteen - one thirty ninety five)
And finally, USD/JPY (Dollar/Japanese Yen)
- An outflow of capital from risky assets indicates a downtrend, because the capital will go to the yen as a funding currency Number One in the carry trade operations. So, it is the uptrend.
- ADX indicator on the daily and hourly charts shows the flat; whereas on the 4-hours chart, the trend is downward.
- RSI indicator on the daily and hourly charts shows the flat; on the 4-hours chart, the trend is down.
- Recommendation: trade inside the flat 100,20-101,20 (one hundred sharply dot twenty - one hundred and one dot twenty).
More information 

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Daily Forex market review 25 August 2016


Currency market review for August twenty fifth
EUR/USD (Euro/dollar pair)
Release by the IFO institute can be a little worse than it was expected. The reason is that PMI composite index by Markit institution was released below the median forecast. Sales in the commodity market usually support US dollar, becase the cost of commodities is denominated in US currency. Thus, the trend is downward.
- ADX indicator on the daily chart shows the uptrend; whereas on the 4-hour chart and hourly charts it shows the flat.
- RSI indicator on the daily, 4-hours and hourly charts shows the flat.
- Recommendation: trade inside the flat 1.1245 -1.1295 (one twelve forty five - one twelve ninety five) (which corresponds to the Bollinger bands range on the hourly chart)
The next pair - GBP / USD (Pound/dollar)
- On the one hand, yield of the 10-years UK bonds is growing against US and German bonds, which is positive for the pound. On the other hand, yesterday oil closed the day in the "red zone", and the negative trend is still relevant, which will put the pair GBP/USD under pressure. Thus, it is the flat.
- ADX indicator on the daily and hourly charts shows the flat; on the 4-hours chart it is the uptrend.
- RSI indicator on the daily, 4-hours and hourly charts shows the flat.
- Recommendation: trade inside the flat 1.3200 - 1.3265 (one thirty two double zero - one thirty two sixty five) (which corresponds to the Bollinger bands range on the hourly chart)
And finally, USD/JPY (Dollar/Japanese Yen)
- Growth of the index of fear VIX by 8.6% (eight dot six per cent) for the third trading day in a row signals a possible inflow of capital into safe assets, which usually the Japanese yen is related to. Thus, the trend is downward.
- Both indicators – ADX and RSI - show the flat on the daily, 4-hours and hourly charts.
- Recommendation: Open Sell trades at 100,55 (one hundred dot fifty five) and take profit at 100,15 (one hundred dot fifteen).
More information 

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Crude oil supported at 48.51

Gold weekly review

Crude oil supported at 48.51

Weekly Review:

The yellow metal continues to consolidate within the contracting triangular formation. As long as the metal trades within this wedge, we expect a possible bullish price movements towards $1307 or even higher. A clear breakout below the lower trend line forming bottom of the wedge could culminate into a possible bearish price movements $1244 or even lower. This commodity should be traded alongside gold, only remain long in gold if silver is giving the same signal, any serious discrepancy between their price action could mean we're standing aside.

Trade Recommendation:
As long as the commodity trades within the rising wedge, remain long. Any clear breakout below the wedge will mean looking for short positions with an ideal target at $1244.
Check the website for more information: https://freshforex.com/a...-analysis/week_1878.html 

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Euro in a corrective mode

28 November 2016, EUR/USD

Euro in a corrective mode
Wave Analysis:
Earlier today, Euro gapped above a key resistance level 1.06087, headed long but is currently retreating towards it. We expect the level 1.06513 to have marked the end of the impulsive wave (3) that the current downward rally is the unfolding of the corrective wave (4) and must not go beyond the end of wave (1) from where we'll be looking to buy the next motive wave (5) towards 1.0724. In the meantime, we choose to remain short with the corrective wave (4) towards 1.10687 Expect a similar wave count in NZD/USD, AUD/USD and GBP/USD. These pairs have a strong positive correlation of up to +0.96% and will have a similar price action during intaday.
Trade recommendations:

Expect a possible bearish price rally towards 1.06087
Check the website for more information: https://freshforex.com/analitics/fresh-forecast/forex-correlation-and-Elliott-wave-analysis/issue_84083.html 

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Possible triple top formation

12 January 2017, EUR/USD

Possible triple top formation
Wave Analysis:

Yesterday, instead of going short as forecasted, the pair retraced to the upper side and is currently in a process of a triple top formation with the top being around 1.06122. We expect a possible bearish rebound from this level to culminate into a bearish wave count towards 1.054 or even lower to 1.0389. Buy positions may only be reconsidered above the previous day's highest high. Expect a similar wave count in GBPUSD, NZDUSD, AUDUSD and EURHKD. These pairs have a strong positive correlation of up to +0.86% and will have a similar price action during this intraday. Only buy or sell euro if the other pairs are giving the same signal.

Trade Recommendations:

Expect a possible rebound around 1.06122 to go short with an ideal target at 1.05405. Buy positions are only recommended above 1.062
Check the website for more information: https://freshforex.com/a...nalysis/issue_84580.html 

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Euro retracing but still bullish

18 January 2017, EUR/USD

Euro retracing but still bullish
Wave Analysis:

As previously forecasted, the pair traded massively long following the break above 1.06517 but is currently declining in an upward momentum. We expect the current bearish wave count on the 4H chart to be a mere corrective move and should not go beyond 1.0682 from where we'll be looking to buy the impulsive wave (5) to the upper side. Alternatively, we could wait for a clear break above the short term resistance level 1.07113 to go long with our previous target still intact at 1.08849. Expect an exact similar wave count in NZDUSD, and AUDUSD. These pairs have a strong positive correlation of up to +86% and will have a similar price action during this intraday.

Trade Recommendations:

If you're not long already, wait for the current retracement to end around 1.0682 to go long with an ideal target at 1.08849.
Check the website for more information: https://freshforex.com/a...nalysis/issue_84644.html 

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Euro bound within the range 1.0722-1.0771

26 January 2017, EUR/USD

Euro bound within the range 1.0722-1.0771
Wave Analysis:

Following the break above 1.0712, Euro entered into a consolidation not going above 1.0771 or below 1.0712. As long as this pair trades within this equilibrium zone, we choose to trade reversals from from these levels. Any clear break breakout above this zone will mean we're continuing long with impulsive wave (5) towards 1.084 while a break below 1.0712 may invalidate the anticipated upward rally and could push the price lower to 1.06177 or even lower to 1.0548. A clear break above 1.0771 in the EURUSD chart will mean a break below 112.54 in the USDJPY chart. These two pairs, eurusd & usdjpy, have a strong negative correlation and will have an exact opposite price action during this intraday. Only buy or sell euro if usdjpy is giving you an exact opposite signal.

Trade Recommendations:

Expect a possible break above 1.0771 to go long with an ideal target at 1.084
Check the website for more information: https://freshforex.com/a...nalysis/issue_84745.html 

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Euro above 1.0576

28 February 2017, EUR/USD

Euro above 1.0576
Wave Analysis:

Despite our expectations to continue short short, euro retraced higher and even ended up above 1.05765. The current chart set up and structure is pretty much bullish and will likely push the price further to the upper side towards 1.06717 but should not go beyond 1.07552. A break above 1.07552 will push the price further to the upper side towards 1.08717. This view can only be rendered futile in case the pair end up below 1.05765, if this case, then an acceleration to the lower side is inevitable. This pair should be traded alongside GBPUSD, NZDUSD, and GBPHKD. These pairs have a strong positive correlation of up to +89% and will have a similar price action during this intraday.

Trade Recommendations:

Expect a possible bullish price movements towards 1.07552.
Check the website for more information: https://freshforex.com/a...nalysis/issue_85123.html 

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Euro still short but should retrace up to 1.06976

05 April 2017, EUR/USD

Euro still short but should retrace up to 1.06976
Wave Analysis:

Instead of going short as previously forecasted, euro continues to retrace to the upper side but should not go beyond 1.06976 from where we'll be looking to pick low risk sell opportunities. A break above 1.06979 will mean we're waiting for further bullish price movements towards 1.07373 from where we'll be expecting a possible rebound to go short. The anticipated sell positions should be the continuation of the impulsive wave (c) but should not go beyond 1.06194. The entire downward rally can only be invalidated in case the price end up above 1.07373, if this is the case, then an acceleration to the upper side will be inevitable. Expect a similar retracement in EURAUD, EURCAD and GBPUSD. These pairs will have a similar price action during this intraday.

Trade Recommendations:

We're waiting for a clear rebound around 1.06976 or 1.07373 to pick sell orders with an ideal target at 1.06194.
Check the website for more information: https://freshforex.com/a...nalysis/issue_85613.html 

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Still corrections

23 June 2017, EUR/USD


Wave Analysis:

Perfectly as previously anticipated, the corrective wave (b) continues to extend to the upper side but is still below our target rebound level 1.12859. During this intraday, we expect a possible extension of this correction to the upper side but should not go beyond 1.12859. Although this upward rally is highly anticipated, if a bearish candle can appear below 1.12859, then we'll sell the impulsive wave (c) to the lower side with an ideal target at 1.08649, Expect an exact opposite wave count in USDCHF, USDJPY and CHFJPY. These pairs have a strong negative correlation of up to -71% and will move in opposite price action during this intraday.
Trade Recommendations:
In the long run, expect a possible beatish price rally towards 1.08649
Check the website for more information: https://freshforex.com/a...nalysis/issue_99661.html 

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We're short

13 July 2017, EUR/USD

We're short
Wave Analysis

This pair moved downwards yesterday,and is currently below a key resistance level 1.1467. the previous day's candle is a possible bearish confirmation candle on the daily chat, and the price will likely continue moving upwards, going to the support level 1.1285. The anticipated bearish price rally is a mere corrective three wave cycle correcting the immediate five wave cycle. A key support level can seen around 1.11372, as long as this level protects the lower side, we expect the anticipated three wave cycle not close below it. Expect a similar wave count in GBPUSD, AUDUSD and EURHKD. These pairs will have a similar price rally during this intraday.
Trade Recommendations:
Expect a possible bearish price rally towards 1.1285
Check the website for more information: https://freshforex.com/a...alysis/issue_123917.html 

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Inside bar followed by a bullish engulfing candle

21 July 2017, EUR/USD

Inside bar followed by a bullish engulfing candle
Wave Analysis

Following the bullish inside bar seen on 19th of this month, the previous day's candle dropped slightly to the lower side before engulfing the previous candle to the upper side. This is a clear bullish dominance signal, and could mean the price may rise further upwards towards the weekly resistance level 1.17159. A breakout above this level will push the price further up but should not go beyond 1.22717. The anticipated upward rally is the continuation of the impulsive wave (v) to the upper side. This view can only be rendered futile in case the price break below 1.15107 and most importantly below 1.1465. If this should be the case, then an acceleration to the lower side will be inevitable. Trade this pair alongside USDJPY and USDCHF. These pairs have a strong negative correlation of up to -71% and will move in exact opposite price action during this intraday.
Trade Recommendations
Expect a possible bullish price rally towards 1.17159
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Check the website for more information: https://freshforex.com/a...alysis/issue_124035.html 

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