KeytoMarkets

KeytoMarkets

In commodities block, Brent crude fell a percent to 83.00$ a barrel this morning. Asian pivotal finds at 83.00$ below here 82.40$ exist. Resistance seems to be at 83.85$ and 84.90$. The near-term price action has been capped between 84.90$-85.30$ levels. Gold tested to the initial, and the parallel support finds at 1195.00$, a break below may text the next...

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The rising yields push the safe haven currencies Japanese Yen and Swiss Franc to its weakest levels against the greenback. We believe the USDCHF’s momentum appears to have stalled between 0.9985 and 1.0065 levels ahead of Friday’s NFP. In other words, limited headroom available from the current price. What if breaches? We might see 1.0230 and 1.0340 its Dec...

KeytoMarkets

UK Prime Minister Theresa May scheduled speech at the Conservative Party in Birmingham is the crucial driver for EURGBP in the near term. The cross pulling back sharply after the failure against the 0.9000 marks and shifted back to the lower low and lower high pattern. The ST and NT essential support find at 0.8850 below here 0.8840 its 200MA exists. The flip...

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The downside prevails as long as 1.3080 is resistance and trading below 200MA. Thus, we forecast 1.2730 its 50.0% fib reaction is the immediate downside target. Below here, finally pointing to 1.2635 its 200EA (weekly). This morning in Asia the price action was rejected at 1.2885 its 20MA (monthly).

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A couple of technical factors grabs our attention: • The weekly pivotal finds at 10.35 its 100MA and 20MA (weekly) • Coincides with the earlier breakout level (May 2018) • The five-month ascending trendline remains valid • Whereas, the daily and weekly studies remaining bearish • The cross lost the both 20 and 50MA. Three-day focus: Technical rebound in a bearish...

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Ahead of the Brexit scheduled events including 18 September General Affairs Council, 20 September informal EU summit and the 30 September-3 October Conservative party conference, the cross likely to swing on the headlines. We expect this week’ macroeconomic is unlikely to support the GBP. Hence, EURGBP’s weekly outlook remains neutral; a cluster of support zone...

KeytoMarkets Updated 

The cross EURCAD rejected at a parallel resistance last week, while remains above 20MA. In Asia this morning the cross traded 0.20% lower at 1.5086 as of 2.00pm (AEST). Here’s a quick look at the three-day technical landscape: The supports are at 1.5040 it’s 20MA and 1.5000. Selling pressure remains in place at a parallel level 1.5187, while the daily RSI and...

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GBPUSD has hit a fresh 2018 low in mid-August dragged down by no-Deal Brexit. The cable has surged nearly 3.0% from low’s and rose more than a percent overnight but would still need to rose another 0.80% to erase all of the monthly losses and is necessary to rose another 3.50% to erase all the ytd losses. Two-Day view: After a big surge overnight, the cable is...

KeytoMarkets

USDCHF may be running into an area of support defined by the following: Back to the 17-month descending trendline Retested and held the 200MA at 0.9740 Earlier swing low finds at 0.9735 coincide with 200EA(weekly) The 14MA (monthly) finds at 0.9720, coincides with 38.2% fib reaction On the H4, the A-B-C corrective structure of 0.9980-0.9800-0.9865 pointing to...

KeytoMarkets Updated 

In europe, the calendar is relatively empty except German Ifo Business Climate. In the UK, it is a bank holiday in London in observance of the Summer Bank Holiday. The US calendar is quiet until Wednesday. Today’s economic data is unlikely to support the euro further after an intense last week’s rally. Besides, the dollar index (KTM: USDX) manages to hold the...

KeytoMarkets

The price is giving a picture of a rally in prices in the coming days. Supports are at 1201$, 1196$ and 1183$. The daily RSI and the oscillator have been bullish and moreover, the price settled above 20MA for the first time since mid-June. Based on these facts, we expect the wave c could reach as high as 1224$ coincides with the 50MA

KeytoMarkets Updated 

For three months the price action remains in a range 72.00$-80.50$ drafting a long consolidation. We expect the price is running to an area of technical resistance defined by the following: 0.50% fib reaction of 80.45$-71.20$ 50MA seems to be at 75.75$, Monday’s high at 75.78$ 14MA (weekly) seems to be at 75.85$ Earlier break down levels exists at 76.25$ ...

KeytoMarkets

The level to watch in EURZND is 1.7110 rounded to 1.7100. Ahead of the data risk, the price likely to remains between 1.7100-1.7200. Until the 1.7100 level holds, a corrective rally could trigger to 1.7190-1.7200 above these 1.7260, and 1.7300 exists. The flip side, breaking below 1.7100 the initial target is 1.7010.

KeytoMarkets

For a week, the price action has been locked in the range finds between 1.1755-1.1600. The current tight range has structural support finds between 1.1620-1.1590 with resistance seems to be at 1.1665 and 1.1700 above these 1.1755 exists. A move below 1.1575 is the first sign of further weakness into the earlier support zone finds between 1.1520-1.1500 levels,...

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The JP10Y yield broken the 10-year descending trendline and sixteen-month symmetrical triangle pattern too. A well move above the Feb 2017 could resume further rally to 0.32 and 0.53

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The cross is trading higher ahead of the U.S Q2 GDP which set to release in the U.S session. Since the hourly (H4) studies, RSI and oscillator stabilized at an oversold levels rebound is expected ahead to the upper end descending trendline. Today’s trading range likely to remain between 111.60-110.50. A well above 111.60 only east downward pressure. In this case...

KeytoMarkets

Asian session pivotal finds at 129.40, fails to hold then scope to retrace further South to 129.20, 129.00 and 128.50. We see resistance at 130.50 and 130.80 above these 131.30 exists.

KeytoMarkets

We expect EUR to remain in the range as the ECB unlikely to alter the recent price action draft. The upcoming Press conference following the Governing Council meeting of the ECB in Frankfurt on July 26 represent uneventful for EURUSD trading. Fundamentally, we believe today’s meeting will be neutral for EURUSD in the near term. But, the meeting is an opportunity...