FxWirePro

USD/CHF bulls hover at wedge baseline, shooting star pops up at stiff resistance to counter in minor trend, Can bears manage to breach?: USDCHF’s major resistance levels are seen at 0.97-9771. The rallies have rejected at these major resistance levels in the recent past. Shooting star pops at the same resistance at 0.9704 levels but on the contrary, the bullish ...

European bank stocks cheered the prospect of higher Fed interest rates which should help their profits thereby pulling general indices higher. Frances CAC-40 index jumped to a 12-week high of 5294, bias higher. Better-than-expected economic data which included flash Euro-zone PMI prints for September also lent support. Technical studies support further gains. We ...

It is good to sell on rallies around $3700-$3750 with SL around $4050 for the TP of $3000/$2615.

EUR/USD recovered sharply from the low of 1.18612 on account of better than expected German and Eurozone PMI data. The pair jumped near 1.200 handle and is currently trading around 1.19835. The composite purchasing managers index for currency rose to 56.7 four month high in Sep. France and German composite PMI rose better than expected at 76 –month high and 77- ...

Harmonic Pattern – Bearish AB=CD pattern CADJPY is consolidating in narrow range after hitting a high of 91.63 on Sep 15th 2017 high. It is trading between 91.49 and 90.41 for the past 4 trading session. It is currently trading around 90.90. The near term resistance is around 91.65 high made on Sep 15th 2017 and any break above targets 92/92.44 (161.8% ...

After AUD/NZD’s shooting star, hanging man and bearish engulfing, bears resume to slide back in sloping channel – Use boundary binaries and short hedge: On daily terms, the stiff resistance is seen at 1.1144 levels. That is where, a few set of bearish pattern candlesticks, such as, Shooting star, hanging man & the bearish engulfing candle at 1.1083, 1.1126, ...

A renewed risk-aversion wave gripped markets on North Korea threats, boosting the safe-haven flows for the Yen. Also, the Greenback is paring some of the FOMC-led gains, which is adding to downside pressure on USD/JPY. The major is down 0.55% on the day, trading at 111.83 after hitting session lows at 111.65. Daily cloud at 111.60 offers strong support on the ...

AUD/NZD bears extend slump for 3rd consecutive week, eye 50-DMA support at 1.0856. Kiwi ignores sharp drop seen in the NZ credit card spending data regains bid tone after latest poll. The latest opinion poll released by Newshub Reid, showed that the ruling National Party regained lead over the opposition Labour Party in New Zealand’s nation election poll. Aussie ...

USD/CHF has broken major resistance at 0.9705 high made on Sep 14th 2017 after hawkish Fed statement. The pair has formed a minor bottom at 0.95650 on Sep 15th 2017 and trading higher from that level. It is currently trading around 0.97277. Fed has kept its interest rate unchanged and finally made formal announcement that it will start to taper QE by Oct. Fed ...

NZD/JPY bull streaks halt but still above 7-weeks’ highs, major trend retraces beyond 50% Fibos – Tunnel spreads to speculate and long hedge: From last two weeks, NZDJPY bullish streaks seem to have been halted today, but the current price is still above 7-weeks' highs. Historically, upswings exhausted at the stiff resistance of 83.929-943 levels, Shooting star ...

• Gold prices declined sharply below $1300 on account of hawkish US Fed statement. The yellow metal dipped till $1296 yesterday. It is currently trading around $1298.. • Fed has kept its interest rate unchanged and finally made formal announcement that it will start to taper QE by Oct. Fed futures are pricing in 73.4% chance of a Dec hike compared to 48.6% a week ...

It is good to buy on dips around $50.30-35 with SL around $49.30 for the TP of $51.97

USD/CAD has formed a bottom at 1.20613 on Sep 8th 2017 and recovered well from that level. The pair upside is limited due to strong oil prices. The pair jumped till 1.23376 and is currently trading around 1.22687. US oil rose yesterday after Iraq oil minister said OPEC and other crude producers were planning to extend oil production. The commodity jumped till ...

AUD/JPY bulls shrug-off shooting star but edgy at stiff resistance, major trend retraces more than 50% Fibos to hit fresh 21-months’ highs: On the rallies of AUDJPY, shooting star pattern candlestick has occurred at 88.760 levels. But vigorous bulls on these rallies have been shrugging-off this bearish pattern (shooting star) but for now, it seems to be little ...

• Gold prices declined almost 1% yesterday due to Fed monetary policy meeting. The yellow metal declined almost $16 from the previous day close of $1320. It is currently trading around $1307.40. • Fed is expected to keep its interest rates unchanged but investors will look for signals for normalization of balance sheet. Market also awaits President Trump speech ...

Major resistance- 152 (38.2% retracement of 195.88 and 124.72). GBP/JPY is in bullish trend for the past one week. The pair jumped from the close of 142.19 till 151.55 previous week. It is currently trading around 150.53. The pair is showing a minor decline after hitting a high of 151.58.Any bullish continuation only above 152 level. The momentum indicator RSI ...

From last two weeks, the bulls have been showing some bounce backs that have gone above 7WMAs. Despite these upswings, bulls are restrained at the resistance of 1.6869 and 21WMA levels, the failure swings below 1.6738 (21WMA) are likely to resume bearish rout (refer weekly chart). The bearish pressure is again observed at 21WMA and 7EMAs despite ongoing rallies, ...

NZD/JPY has breached 50-DMA resistance at 80.80, bias bullish. The pair closed above weekly 20-SMA in the previous week's trade. We see scope for test of weekly 200-SMA at 82.20. Technical studies on weekly charts are bullish. RSI is above 50 and biased higher while Stochs are showing rollover from oversold levels. We notice bullish divergence on daily charts ...