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STRONG RESISTANCES FOR USDCHF

USD/CHF

Posted on: September 29, 2014 at 12:42PM

Long / Short: Short

Current Price: 0.947

Target Price: 0.91

Analysis:

The month of October is not seasonally particularly bright for UsdChf, and tends to move ahead of the ten-year American rates. In fact, the graph shows the candlestick chart of UsdChf while the green line represents the 10-year Tnote. In 2008 and 2011 UsdChf anticipated a few months the evolution of interest rates; this is why we can well understand what impact a definitive upward break could have. We believe that the first turning point could be the 65-day moving average located at 0.9550, beyond which we could reach the equality. The Macd is also under resistance, so it may be worth trying a short UsdChf

Posted by: forextravel

BULLISH SIGNALS FOR USDMXN

USD/MXN

Posted on: September 27, 2014 at 9:10AM

Long / Short: Long

Current Price: 13.45

Target Price: 14

Analysis:

The strength of the dollar is not only quite evident against the euro, and USDMXN is an excellent barometer of the entire emerging landscape. Its rise above area 13.50 (and the weekly MACD would seem well set up to second more rises), might push the change towards area 14. This movement would probably be accompanied by new tensions on emerging currencies and the most vulnerable ones (BRL, Zar, Try), will inevitably suffer further devaluations. So, eyes open on USDMXN as it may anticipate a new phase of weakness in emerging markets, but mostly it seems to offer important long potentials from a short-term trading view.

Posted by: forextravel

EURJPY, A NEW BULLISH WAVE?

EUR/JPY

Posted on: September 21, 2014 at 6:21AM

Long / Short: Long

Current Price: 139.9

Target Price: 145

Analysis:

We are facing a key moment for EurJpy. The MACD is about to rise above the zero line (an event that was missing from September 2012), the 25-week moving average has been bypassed upward and the triangular congestion in place by the beginning of 2014 is going to be violated upward. Considering the numerous support projections between 136 and 137, together with the lack of incisiveness in the fall of EurJpy in a period in which the euro is not having a great time, an upward breakthrough at 140 preludes, in our view, the final restart of the bull market of EurJpy

Posted by: forextravel

NZDUSD, A PAUSE IN THE DOWNTREND

NZD/USD

Posted on: September 13, 2014 at 10:25AM

Long / Short: Long

Current Price: 0.815

Target Price: 0.85

Analysis:

NzdUsd fell at 0.816 from the top of July 0.883 leaning on the 200-week average. Is the correction finished? No, in our view, and this happens for two reasons. The first one is related to the fact that the realignment with the unemployment rate has not yet been completed; the second one is because the positions of the non-commercials in the futures market are still not so extreme as to justify a bottom. As we can see from the graph in fact, NzdUsd tends to record a primary low when the placement of the hedge funds becomes net short. At the moment we are still far away.

Posted by: forextravel

GBPUSD, A BULL TRAP

GBP/USD

Posted on: September 6, 2014 at 8:11AM

Long / Short: Long

Current Price: 1.635

Target Price: 1.66

Analysis:

What happened to the Cable above 1.70 at the end of July has to be considered as a classic trap for the bulls; this behaviour has been paid dearly by GbpUsd that from that moment has fallen for seven consecutive weeks. The support that has been reached at the moment at 1.63 seems to be very solid (also 38.2% of retracement of the bull market) and we believe that the Cable is attempting to build a first base before the restart. We cannot exclude a further attack, but observing the oscillators at the moment this idea seems quite remote. Furthermore the weekly RSI seems to confirm this view that should now witness a temporary rise of the Cable to be tactically exploited by entering long on GbpUsd.

Posted by: forextravel

USDTRY, IT’S TIME TO GO LONG

USD/TRY

Posted on: August 9, 2014 at 9:14AM

Long / Short: Long

Current Price: 2.17

Target Price: 2.25

Analysis:

The figure formalized at the end of the week for UsdTry is a clear bullish head and shoulder figure that does not predict a positive trend for the upcoming sessions. Following the correction started in January after the dramatic sell-off of Try in the last part of the year, UsdTry has begun to accumulate in a narrow range between 2.15 and 2.06 always turning around the 200-day moving average. Last week, the escape from this range now opens the door to a wider movement towards 2.25 theoretical target of the head and shoulder and transit area of different resistances.

Posted by: forextravel

A GOOD MOMENT TO BUY NZD AGAIN

NZD/USD

Posted on: August 3, 2014 at 12:41PM

Long / Short: Long

Current Price: 0.849

Target Price: 0.87

Analysis:

NzdUsd has quickly passed from the top of 0.8836 on July 10th till 0.8510 today. When the market recovers an important long term break that was completed during 2014 so fast, we must pay attention. The Kiwi has, however, reached a quite important projection of the supports thanks to a wide oversold. This consideration leads us to conclude that there will hardly be a break of the supports of 0.84, thus providing a bullish opportunity to traders to go long NzdUsd. Of course, the stop loss should be placed below 0.84.

Posted by: forextravel

BULLISH BREAK FOR USDJPY?

USD/JPY

Posted on: August 3, 2014 at 12:39PM

Long / Short: Long

Current Price: 102.6

Target Price: 104.5

Analysis:

The strength of the dollar seems to grow even against the Yen and UsdJpy has forced the falling trend line in place since the beginning of the year. This is a signal not to be underestimated also because the weekly Macd seems to be in the ideal conditions to facilitate an upward boost. As we can see from the graph, the two previous wedge figures of 2012 and 2013 have always been accompanied by a cut from the bottom to the top of the Macd respect to the line of the signal during the bullish break. Area 107 could become the next target in the event of a bullish break confirmed in next week.

Posted by: forextravel

REBOUND IN SIGHT FOR EURUSD?

EUR/USD

Posted on: July 30, 2014 at 1:30PM

Long / Short: Long

Current Price: 1.339

Target Price: 1.36

Analysis:

As for EurUsd, as we can see from the chart, the bullish trend line seems to have been temporarily broken, but if we use the method of Fibonacci Fan Line we can see that the first line of support linked to 38.2% transits at 1.34 and then the bearish break cannot be confirmed yet. Furthermore, the RSI in oversold might sustain the rebound of the change in the coming sessions. EurUsd will necessarily break down these supports to start a more intense bullish phase towards 1.28/1.30. The upward rebound should target area 1.3650/1.37.

Posted by: forextravel

EURJPY, THE FALL HAS TO STOP AT THIS POINT

EUR/JPY

Posted on: July 27, 2014 at 2:17AM

Long / Short: Long

Current Price: 137

Target Price: 139

Analysis:

A particular moment of EurJpy that has just fallen below area 138 and is now trying to react on the lows of February 2014 at 136.20 before a much more important fall. It’s evident also on the graph that the triangular figure in formation might be annulled below the above mentioned support. We believe that a reaction in the short time of the cross with target included between 138 and 139 is possible. But difficultly it will pass over it due to the Adx above e 30 that still witnesses a certain strength of the downward, but at this point the upward rebound could be exploited by opening a long position.

Posted by: forextravel

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