Category: Daily Look

EURUSD, USDJPY, GBPUSD TA, Pivot Points – June 18 2015



EURUSD Daily Pivots

R3 1.1547
R2 1.1451
R1 1.1393
Pivot 1.1298
S1 1.1241
S2 1.1145
S3 1.1088

 EURUSDH4_1806

EURUSD (1.136): EURUSD formed a bullish engulfing yesterday and managed to break across the 1.12845 level of resistance paving way for a test to 1.149. On the intraday charts also, we notice that EURUSD closed above 1.13575 resistance clearing the path for a test to 1.149 resistance. We expect a potential decline to the freshly broken resistance for support which could cement the rally to 1.148. With price trading within the price channel and having formed support near the lower end of the price channel, the risks for a break out are starting to diminish. However, establishing support at 1.13575 is essential in the rally to 1.149.

USDJPY Daily Pivots

R3 125.417
R2 124.925
R1 124.168
Pivot 123.688
S1 122931
S2 122.451
S3 121.697

USDJPYH4_1806

USDJPY (123.075): USDJPY saw a rally that attempted to break above 124 level of resistance, but failure to break above resistance has sent the currency lower. We now expect USDJPY to eventually decline to 122  – 121.7 region to test for support. If this is successful, USDJPY could see some sideways price action. A break below 121.7 would however see USDJPY decline to fresh lows of 120.8.

GBPUSD Daily Pivots

R3 1.613
R2 1.5989
R1 1.5911
Pivot 1.5766
S1 1.5688
S2 1.5545
S3 1.5467

GBPUSDH4_1806

GBPUSD (1.584): GBPUSD was very bullish yesterday and price closed above 1.57252 posting a fresh monthly high. The next resistance comes at 1.59. On the intraday charts, the break above the resistance at 1.579 is indicative of potential gains higher. We do expect a retest towads 1.579 ahead of the next leg in the rally. A break above 1.59 will see a test to 1.63. Overall, the price action in GBPUSD is likely to point to a rally that could see the currency retrace most of the losses from last year.

FOMC delays rate hike

FOMC delays rate hike

Once again, the consensus for the first rate hike from the FOMC has slipped further into the distance as the Fed Chair gave a dovish tone at the post-FOMC meeting press conference. The first move remains conditional on further improvement in the labour market and when the Fed is “reasonably confident that inflation will move

FOMC Inner Circle Tilts To 1 Hike This Year; Our Call For 2 Hikes – Danske

FOMC Inner Circle Tilts To 1 Hike This Year; Our Call For 2 Hikes – Danske

The Fed said its word. The dovish perception led to a slide in the greenback, sending GBP/USD to new highs and EUR/USD to challenge the double top. When will the Fed hike and what level will rates hit by year end? The team at Dankse analyzes what the inner circle thinks: Here is their view, courtesy of

All eyes on the Fed

All eyes on the Fed

The two day FOMC meeting concludes this evening with their interest rate decision and this time their quarterly economic projections will see an update to the famous dot chart. A great deal of attention has been placed on when the tightening cycle will start and it wasn’t too long ago that many were expecting tonight

EURUSD, USDJPY, GBPUSD Pivot Points, TA – June 16 2015

EURUSD, USDJPY, GBPUSD Pivot Points, TA – June 16 2015

EURUSD Daily Pivots R3 1.1425 R2 1.136 R1 1.1321 Pivot 1.1254 S1 1.1216 S2 1.1149 S3 1.111 EURUSD (1.128): EURUSD closed on a bullish note yesterday despite a weak opening. Prices are back to trading near 1.12845 level of resistance on the daily chart and could pose a risk of a rally higher. On the

All eyes on UK inflation data

All eyes on UK inflation data

As markets await the Fed decision and statement tomorrow evening, the main distraction for today will be the release of CPI data in the UK. The April numbers showed the headline rate falling into negative territory. Whilst in some respects this does follow a trend seen in several other European countries, the prices declines in

End-game for Greece

End-game for Greece

One of the most over-used phrases of recent years in Europe has been “crunch time for Greece”, but this time, it really feels like it is. Yesterday’s talks ended rather abruptly and the focus falls now onto Thursday’s meeting of Eurozone finance ministers. If any deal is to be ratified by the Greek parliament before

EURUSD, USDJPY, GBPUSD Pivot Points, TA – June 12 2015

EURUSD, USDJPY, GBPUSD Pivot Points, TA – June 12 2015

EURUSD Daily Pivots R3 1.148 R2 1.1406 R1 1.133 Pivot 1.1255 S1 1.1181 S2 1.1105 S3 1.1029   EURUSD (1.1256): EURUSD continues to struggle to break free above the 1.12845 level of resistance with yesterday’s candlestick close below this level on a bearish note. The intraday charts shows price action is currently trading near the

Greek debacle

Greek debacle

Markets seem relatively sanguine as we end the week which has seen no progress in respect to the Greek debacle and today was supposed to mark the second repayment to the IMF of the month. The euro continues to defy the bears holding ground against the dollar around 1.1220 this morning, 0.7235 against sterling and

Candlestick Buy Signal at Range Support – AUDCAD Daily

Candlestick Buy Signal at Range Support – AUDCAD Daily

The AUDCAD just finished completing another cycle of the daily range here as bears pushed price from the range resistance to the range support. The market has given some clear price action that the support wants to hold and the bulls are picking up control again. Last session a strong bullish rejection candle formed with