KeytoMarkets

KeytoMarkets

Copper has continued to rally with breaking the sym.triangle resistance trendline and psychologically key resistance 3.2980. We expect the AUDUSD will follow the copper's lead. Based on this lead, we forecast a bullish target at 0.7750-0.7800 initially, with potential support zone finds between 0.7475-0.7450.

KeytoMarkets

The growing number of resistances are indicating the price capped for Q2. Selling pressure remains very strong at the parallel resistance seems to be at 1.1750, May 24 high which coincides with the 20MA and the 23.6% fib reaction( 1.2555-1.1510 correction). Earlier May 14, the price was rejected at the same 23.6% (1.2555-1.1822 correction). Whereas the price...

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USDJPY manage to hold the 100MA which nearly coincides with the earlier breakout level. Ahead of the payroll data (Fri) trading range remains between 107.30-110.00 levels with resistance seems at 109.20 and 110.00. www.keytomarkets.com

KeytoMarkets

The parallel support zone remains between 93$ and 102.70$. Until holds Sep 2017 high, 93$ we could expect a short-term rally to 135$ levels. www.keytomarkets.com

KeytoMarkets

The index has plunged about 3.5% percent year to date and nearly 14.00% from early May high's. On the weekly chart, the action traced out a longer-term price top between 24550-24157-24544 in Oct 2009-July 2015-May 2018 via the formation of a triple top pattern. Today the price has tested an interesting trendline with a highly oversold daily study RSI. Any...

KeytoMarkets Updated 

The cross finally pauses the sliding action at parallel support at 127.55. Before retraced to 127.70 levels the cross spotted with a bearish H&S pattern aiming at 126.80 which coincides with the 38.2 fib reaction with resistances seems at 129.60 and 131.40. Looking through the price action from Jan high’s the price has been sliding in the falling channel. The...

KeytoMarkets

Intraday trading range will remain between 108.60-109.80. A move below 108.60 could confirm the bearish H&S pattern pointing to 107.40.

KeytoMarkets

The shared currency technically getting oversold, the next level to watch is 1.1610-1.1550 (17-month Ascending trendline). A break below could open to a final retracement to 1.1450 its 50.0% fib reaction -1.1400 levels. With breaking and closed below the 38.2%, fib reaction the major’s risk-reward profile has titled to the further downside. We see levels at 1.1830...

KeytoMarkets

The break of 110.60 confirmed the near-term top formation, ensuring corrective phase entered to serious selling. After the quick break of the 2-month ascending trendline, the price has furthermore broken its 50-day moving average which paves the way towards 109.40. This suggests that the downtrend is set to reassert itself as the daily RSI study unwinds a series...

KeytoMarkets Updated 

FX market is heading to the NFP event with oversold RSIs. On the daily chart AUDUSD, RSI study is at 39 bounce from 29, EURUSD RSI stands at 31.50, GBPUSD at 26.75 and NZDUSD at 33. On the other hand USDCHF study has been consolidating at 82.00, USDJPY study cooled to 59 from 70.50 and USDCAD study has been in a sloping mode, currently stands at 55.00. Trade:...

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The cable completed the 161.8% of the A-B-C corrective pattern (below chart) at 1.3340 below this, a previous swing low exists at 1.3300. Ahead of FOMC minutes, we expect the cable will park the brakes between 1.3300-1.3260 levels.

KeytoMarkets

The price held the support base (921-873.80$) and resume short-term rally to 20MA. While hold 873.00$ we could expect a bullish reaction to 923.00$ and even 950.00$ possible.

KeytoMarkets

Today in Asain session the price heads up beyond the falling channel and manages to hold the 20MA. A move above early May high needed to forecast further elevation to mid-Feb 2018 high 979.00$ with support available at 685.00$. We remain cautiously NEUTRAL as we continue to study the action.

KeytoMarkets

The yellow metal price has been under pressure since mid-April. Gold traced out a medium-term top near 1366.00$ in Jan-April via the formation of a double top pattern. We have spotted the same trends visible on AUDUSD, NZDUSD, and EURUSD which have completed the 161.fe (A-B-C corrective pattern). The yellow metal's retracement pauses at the 61.8% fib reaction...

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Support zone: 0.7400-0.7385<0.7330 We remain cautiously BULLISH as we continue to read the pattern in the coming days. A weekly close above 0.7600 could change the forecast from cautiously bullish to Bullish. For Q2 support zone spread between 0.7385-0.7330

KeytoMarkets

There is so far sufficient evidence to pause the rally at the resistance zone. We are watching particularly on monthly reports by OPEC (Mon) and the International Energy Agency (Wed). Market participants are eyeing at 80.0$ per barrel above this, huge resistance comes at 83.00$. The price surpassed the 161.8% fe (61.60-71.35-61.58$) suggests at 77.50$ (KTM...

KeytoMarkets

Having a low at 161.8fe (A-B-C corrective pattern) the major resumes the short-term rally. Since last week, we have been forecasting A BULLISH REACTION. This week we forecast targets at 1.2010 and 1.2090. On the hour chart (H1), the major gave a decent bullish breakout above the neckline, aiming at 1.2010 levels with supports 1.1890 and 1.1830 levels. twitter.com

KeytoMarkets Updated 

Can trendline really survive? The cross manages to hold the eight-month ascending trendline and trading 0.25% higher on the Asian session. It has a parallel support at 128.95 below this 128.50 and 127.55 exists mid-August 2017 low. On the flip side, immediate resistance at 130.00 above this, 130.60 exists. Since two weeks the bears are in control, underlying...