Friday, 8 July 2016

Positive numbers rocketed the US dollar

The fresh NFP data released today provided best numbers for the US economy and pushed the greenback higher. 287,000 jobs were created in June, well up from 11,000 in May and comparing with the expected 180,000.
In an immediate response to the numbers publishing, the US Dollar rose sharply against the Euro and was seen marking daily highs. The EUR/USD pair went to daily lows, testing the $1.10 level, falling from $1.1083.
During the past week the pair was spiralling in tight range, stuck between the support around $1.1020 and the resistance at $1.11 zone. In case the EUR/USD pair break out from this consolidation level, we may expect the following trend to be undisturbed in the next week.
  
 

Thursday, 7 July 2016

GBP/USD stuck between key levels

The Brexit vote turned the cable to choppy-fashioned mood and the strong turbulence continues to hold the sentiment and the volume measures to extened losses. OBV is showing lower levels, which confirm the downward price movement.
If  framing the long term development, yesterday’s low at 1.2788 is located at the 78.6% retracement level of the 1985 low to the 2007 high. The significance of this level  should be consindered as a key support and a possible break below would lead the GBP/USD pair downward to levels of 1.2450 or lower.
In case the pair manage to improve its strength, the key level to watch is 1.3118 - 27th June’s high, currently acting as a resistance zone. If walking below this level, bears will disturb the sound of silience. If going above, a strong rally is expected.
Anyway, the alert is on 1.2788 and 1.3118 as these levels define the short-term devolepment. Be cautious, the door is open towards the stairway to heaven either to the highway to hell.




Silver in bullish intraday bias

Today XAG/USD was trading higher and posted an intraday high at $20.34 and low at $19.62. The intraday sentiment remained bullish, confirmed my the  20-day, 30-day and 55-day EMA, as shown on the daily chart.
MACD and RSI are showing overbought market, so as expected a slight downward correction was seen slightly below the daily support zone at $19.834.
Last week we witnessed an intermediate-term higher trending facing to the long-term resistance zone. Since then silver is hovering around $19 level. Meanwhile the highs marked on 1st and 4th of July and the powerful move in the short-term left buyers exhausted. In case the market skip some additional selling, a short consolidation period is about to push the price towards $21 level. One thing is sure – the recent highs are yet to be digested with a possible extended pull back period. 
Currently we should pay particular attention to the behaviour against Monday’s highs. If trading higher, the resistance at $21.56 (July 2014 high) should be set on focus. On the other side, closing below $19.83 will drag silver towards supports at $19 zone or even $18.50. 



Wednesday, 6 July 2016

USD/CAD: Possible break out of consolidation

Lately the USD/CAD pair is seen in consolidation, but this period might come to an end in case US Dollar’s power resume. This may lead to strong move to the upside, even above 38.2 % Fibonacci level at 1.3303, confirmed by the trendline drawn off closing lows. 
But yet we must consider the key resistance located at 1.3019, matching with the 100-day EMA, which comes after the high, marked just a month ago. The pair couldn’t break over these levels. Currently the key support is located at 1.2657, formed since late May. Until a break trough this level happens, either consolidation or pushing higher will remain in focus.



AUD/USD trending higher


The US macro data today drove the attention of market participants and caused considerable volatility. As a result the US dollar was under pressure, mostly against the higher-yielding currencies. 

The AUD/USD pair bounced from the support located at $0.7407 and pushed slightly above the psychological level at $0.75. The intraday development was mastered by the bulls and the pair marked the daily high at $0.7519. 
In short-term perspective is seen triangle pattern, which is in process of forming within the next few days. Bulls are targeting the last turning point of the triangle at the resistance located at $0.754, as seen on the H4 chart. The last support turning point is located the daily support at $0.7407. So in long-term we may expect continuation of the bullish trend. 








Friday, 1 July 2016

Gold above $1.335

Gold prices were rolling in the shallows of a familiar area due to the lack of enough significant catalyst that could stir the markets and set a clear direction. The Brexit wave surged volatily in markets, but during the past four sessions the safe heaven was seen in consolidative tone, as yet investors are trapped by the uncertainty.

Yesterday gold was trading around $1,1315, but today’s session echoed with firm gains and the bulls are mastering the short-term run. The key resistance at $1.336 (26th Jun 2016 high) was broken and continuation of the upside movement is expected towards $1,358 and $1,372. Major support is located at $1.1317 (20-day SMA).


                                Chart XAU/USD H4


ActivTrades Tools | Autochartist

The technical analysis is a key trading tool for many traders because of one significant reason – it evaluates the financial instruments and forecast the future movement by providing gathered statictics from the trading activity. But even being fueled with knowledge and knowing by heart the theory basics, it is not so easy to implement it to your trading strategy.

I’ll never forget when for first time I opened a chart on my MT4, the green graphics appeared to me like lots of Christmas trees. I thought that my mind was successfully uploaded with the necessary volume of knowledge as I spent considerable time for learning, but at the very beginning it was very hard to identify any pattern. Of course certain time and efforts were needed to improve my experience and to break free from the Christmas trees vision.
            
Fortunately, there is a revolutionary application that provides incredible assistance to traders regardless of experience level. Autochartist is an amazingly powerful tool that enhance your confidence in trading by providing synthesized information of price movement of all instruments, clear assessment of rist and volatility and is a reliable guideline for trading. 


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Here are some of Autochartist tools that will compose the delight of your trading:
Chart patterns: you will have audio and visual alerts when emerging and completed patterns are identified. An  automatic forecast zone is plotted on completed chart patterns. 
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Key levels: Horizontal support or resistance are automatically identified as either “Breakout” or “Approach”.
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Autochartist benefits not to miss are:
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Please kindly note that on a Demo account Autocharticst will be displayed with delays and you may refer to the plug in for the exact time delays.

The Autochartist rid me of the problem with the difficulties of recognising patterns and I said goodbye to Christmas Trees.