Thursday, June 30, 2016

USDCAD analysis for 30.06.2016

USD is getting weak against many currencies and the market is still not stable due to the Brexit issue. However the oil price supported CAD. USDCAD started today with bullish bias and it is still trying to rise. The support lies at 1.29260 with resistance at 1.29780 which both lines are above the monthly pivot point at 1.29130. The EMA of 10 is falling down and it is getting close to the EMA of 75. The RSI is moving around the 50 area and the MACD indicator is falling down from the positive territory. If the next candle finishes with bearish bias, the pair will have further decline to 1.2800.

https://fxglory.com/usdcad-analysis-for-30-06-2016/


USDCHF analysis for 30.06.2016

USDCHF is under the influence of some economic reports such as KOF Leading Indicator (M/M) for CHF and Gas Storage, Chicago PMI, and Unemployment Claims in the US. Today USDCHF started with leaving a bullish candle followed by a pullback afterwards. The support lies at 0.97850 with resistance at 0.98150 which both lines are above the monthly pivot point at 0.96800. The EMA of 10 is rising and it is located above the EMA of 75. The price is above the Ichimoku Cloud and it is below the Chinkou Span. The Tenkan-sen is showing downward trend and the Kijun-sen is showing upward movement. The RSI and the MACD indicators are in positive territory and the Stochastic is moving horizontally. The resistance level breakout will make the pair grow to 0.99.

https://fxglory.com/usdchf-analysis-for-30-06-2016/


USDJPY analysis for 30.06.2016

USDJPY is under the influence of some economic reports such as the Housing Starts y/y and Prelim Industrial Production m/m in Japan and Gas Storage, Chicago PMI, and Unemployment Claims in the US. Today USDJPY has created bearish candles and it seems that it is falling down again. The support rests at 102.380 with resistance at 103.070 which both lines are below the monthly pivot point at 109.230. the EMA of 10 is rising towards the EMA of 75. The RSI is at the 50 level, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. The pair looks bearish at the moment however it might rise a little bit but it is not going to break the resistance zone. Sellers can target 102.00.

https://fxglory.com/usdjpy-analysis-for-30-06-2016/


GBPUSD analysis for 30.06.2016

The market is calming down after the UK referendum last week and Pound is recovering again. However Crabb pointed out that there might be another referendum about Brexit. Today GBPUSD left a small bullish candle followed by two pullbacks. The support rests at 1.33500 with resistance at 1.34680 which both lines are below the weekly pivot point at 1.39630. The EMA of 10 is moving horizontally below the EMA of 75. The RSI is still below the 50 level and it is not showing any upward force, the MACD indicator is in negative territory as well and the Stochastic is showing downward momentum. There is a strong resistance around the 1.33 area and it seems that the pair is falling down targeting 1.30 area.

https://fxglory.com/gbpusd-analysis-for-30-06-2016/


EURUSD analysis for 30.06.2016

Due to the Consumer Confidence report in Eurozone, euro did not change its positions and the ECB regulators are waiting to make the Eurozone economy stable before they apply changes and new policies. Today EURUSD started with bearish candles below the weekly pivot point. The support rests at 1.10960 with resistance at 1.11340 which both lines are below the weekly pivot point at 1.11440. The EMA of 10 is moving with bullish bias below the EMA of 75. The RSI has been moving below the 50 level for a while and today it is getting closer to crossing it and the MACD indicator is in negative territory as well showing the price decline. The resistance level breakout confirms the bullish trend and will push the pair higher to 61.8 of Fibonacci retracement however as the price is closer to support level it may go lower and reach 1.0821.


https://fxglory.com/eurusd-analysis-for-30-06-2016/


Wednesday, June 29, 2016

EURJPY analysis for 29.06.2016

EURJPY is under the influence of some economic reports such as the Retail Sales y/y in Japan and Spanish Flash CPI y/y, German Prelim CPI m/m, and GfK German Consumer Climate in Euro zone. This pair started today with bullish bias and has created two bullish candles. The support rests at 112.830 with resistance at 113.610 which both lines are below the weekly pivot point at 114.98. The EMA of 10 is moving below the EMA of 75 between the support and resistance lines. The RSI is below the 50 level, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. The pair may rise to the resistance zone but then there would be a good chance for sellers to open their positions targeting 109.

https://fxglory.com/eurjpy-analysis-for-29-06-2016/


USDJPY analysis for 29.06.2016

USDJPY is under the influence of some economic reports such as the Retail Sales y/y in Japan and the US is releasing Bank Stress Test Results, Crude Oil Inventories, Pending Home Sales m/m, Personal Income m/m, Personal Spending m/m, and the Core PCE Price Index m/m. The pair started today with bearish bias below the monthly pivot point. . The support rests at 102.050 with resistance at 102.710 which both lines are below the monthly pivot point at 109.230. The EMA of 10 is moving horizontally below the EMA of 75 which is falling down the descendant channel. The RSI is moving in neutral zone, the MACD indicator is in negative territory but it is trying to rise while the Stochastic is showing downward momentum. The pair does not seem to be moving a lot today and it will fluctuate around the 102-103 zone.

https://fxglory.com/usdjpy-analysis-for-29-06-2016/


USDCAD analysis for 29.06.2016

While Canada is not releasing any specific economic reports the US is releasing Bank Stress Test Results, Crude Oil Inventories, Pending Home Sales m/m, Personal Income m/m, Personal Spending m/m, and the Core PCE Price Index m/m. USDCAD started today with bearish bias above the weekly pivot point and it seems that this pair is going to retain this pattern. The support rests at 1.29870 with resistance at 1.30550 which both lines are above the weekly pivot point at 1.29340. The EMA of 10 is moving horizontally above pivot point and the EMA of 75 which is located below the pivot point. The RSI is moving on the 50 level, the MACD indicator is in positive territory with falling tendency and the Stochastic is showing downward momentum. The bearish trend will continue until the support level breakthrough after that long positions are recommended.

https://fxglory.com/usdcad-analysis-for-29-06-2016/


AUDUSD analysis for 29.06.2016

Regarding the Brexit issue, USD is getting weak since the investors prefer trading with risky assets. The pair has created bullish candles today despite its strong pullback yesterday. The support lies at 0.73620 with resistance at 0.74440 which both lines are below the weekly pivot point at 0.74700. The EMA of 10 is rising towards the EMA of 75. The RSI rose to the 50 level after passing the oversold area and the MACD indicator is still in negative territory. Further decline is expected around the support level and when the support is broken buyers can open their positions and enjoy the result.

https://fxglory.com/audusd-analysis-for-29-06-2016/


EURUSD analysis for 29.06.2016

EURUSD is still under the influence of Brexit and also the ECB President’s speech regarding the deflationary pressure. The pair is still moving below the weekly pivot point with bullish bias. The support lies at 1.10410 with resistance at 1.10810 which both lines are below the weekly pivot point at 1.11440. The EMA of 10 is moving horizontally below the EMA of 75. The RSI is moving horizontally below the 50 level, the MACD indicator is trying to rise to the positive territory and the Stochastic is not providing any clear signal. The resistance level breakout can smooth the way for further growth targeting 1.1130.

https://fxglory.com/eurusd-analysis-for-29-06-2016/


Tuesday, June 28, 2016

USDCHF analysis for 28.06.2016

USDCHF is chiefly under the influence of the US Richmond Manufacturing Index, CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, Final GDP Price Index q/q, and Final GDP q/q. This pair has been moving with bullish bias since the previous low at 0.95210. The support rests at 0.97340 with the resistance at 0.98090 which both lines are above the weekly pivot point at 0.96890. The EMA of 10 is rising and has crossed the EMA of 75. All indicators are showing price growth; the RSI is in overbought area, the MACD indicator is in positive territory and the Stochastic is not showing any clear signal. Buyers can target 0.9840 after the resistance level breakout.

https://fxglory.com/usdchf-analysis-for-28-06-2016/


USDJPY analysis for 28.06.2016

Due to the UK referendum Bank of Japan is trying to control the forthcoming impacts. Japan is not releasing any economic reports while the US is releasing Richmond Manufacturing Index, CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, Final GDP Price Index q/q, and Final GDP q/q. After the referendum the USDJPY has been moving in choppy pattern leaving bearish and bullish candles behind. The support lies at 101.270 with resistance at 102.570 which both lines are below the monthly pivot point at 109.230. The EMA of 10 is moving with bearish bias along with the descendant channel under the EMA of 75. The RSI is moving in neutral zone, them MACD indicator is in negative territory showing the price decline while the Stochastic is showing upward momentum. There is no clear signal for this pair at the moment therefore traders can wait for a better chart setup. The pair will be moving within the 100-102 area.

https://fxglory.com/usdjpy-analysis-for-28-06-2016/


EURUSD analysis for 28.06.2016

Brexit is still putting pressure on EUR against the USD. EURUSD has been moving in lower ranges after the UK referendum and despite the bulls’ effort to push the price up; the pullbacks dragged the pair down. The support rests at 1.10260 with resistance at 1.10740 which both lines are below the weekly pivot point at 1.11440. The EMA of 10 is falling sharply below the EMA of 75 indicating the current sudden price decline. The RSI after passing the oversold area is getting closer to the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in negative territory showing the price fall. The resistance level breakout can be considered as a good signal for buyers however further decline is expected with the target at 1.0900.

https://fxglory.com/eurusd-analysis-for-28-06-2016/


GBPUSD analysis for 28.06.2016

Regarding the Finance Minister’s speech about the impact of the UK referendum on the market volatility, GBP got weakened against the USD. However, Osborne claimed that the UK is ready to leave EUR and face the consequences. After the referendum the pair fell down and it has been moving in lower ranges since then. The support rests at 1.31660 with resistance at 1.33980 which both lines are below the monthly pivot point at 1.45270. The EMA of 10 is falling sharply below the EMA of 75 indicating the current sudden price decline. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The RSI is moving horizontally in the oversold area, the MACD indicator is in negative territory and the Stochastic is showing upward momentum. GBPUSD will start its correction pattern soon and will rise however at the moment further decline is expected targeting 1.3100.

https://fxglory.com/gbpusd-analysis-for-28-06-2016/


NZDUSD analysis for 28.06.2016

While the US is being empowered due to the UK referendum the NZDUSD is moving with bullish bias. NZDUSD has been rising since yesterday and it seems that it is going to return to the neutral area. The support lies at 0.69980 with resistance at 0.71030 which both lines are below the weekly pivot point at 0.71260. The EMA of 10 is crossing the EMA of 75 below the pivot point. The RSI is getting close to the 50 level, the Stochastic is showing upward momentum and the MACD indicator is still in negative territory showing the price fall. In terms of the price fall, sellers can target 0.6950 otherwise it will grow to resistance area.


https://fxglory.com/nzdusd-analysis-for-28-06-2016/


EURJPY analysis for 27.06.2016

While there is no specific economic reports in Japan and Euro zone, EURJPY is massively under the influence of Brexit. After the previous low at 109.498 the pair rose half the way but fell again and now it is fluctuating in bearish zone. The support rests at 111.220 with resistance at 113.980 which both lines are below the weekly pivot point at 114.980. The EMA of 10 fell sharply and is moving below the EMA of 75. All indicators are signaling price decline; the RSI is in oversold area, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. There will be strong resistance in 113 area, short positions are recommended as far as this level is not broken.

https://fxglory.com/eurjpy-analysis-for-27-06-2016/


NZDUSD analysis for 27.06.2016

As Brexit has affected all currency pairs, NZDUSD is also like others. This pair was volatile on Friday as well. After hitting the previous low at 0.69717 NZDUSD rose half way and now it is moving in neutral area. The support rests at 0.70240 with resistance at 0.71060 which both lines are below the weekly pivot point at 0.71260. The EMA of 10 is falling down but it is located above the EMA of 75. The RSI is staying at 50 level and is trying to rise along with the MACD indicator which is in neutral area at the moment. The Stochastic is showing price decline. The resistance level breakout can push the pair to higher levels targeting 0.7250 otherwise the pair will drop to 0.6850.

https://fxglory.com/nzdusd-analysis-for-27-06-2016/


USDJPY analysis for 27.06.2016

USDJPY is under the influence of the Brexit as well and it is time for the Bank of Japan to take some actions. While Japan is not releasing any economic data, the US is releasing the Flash Services PMI and Goods Trade Balance. After the previous low at 99.0 the pair tried to rise but the pull backs took it down again. The support rests at 100.890 with resistance at 102.690 which both lines are below the monthly pivot point at 109.230. The EMA of 10 is moving below the EMA of 75 with bearish bias. The indicators are showing further decline, the RSI is in oversold area, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. The potential target for sellers is 100.00 at the moment.

https://fxglory.com/usdjpy-analysis-for-27-06-2016/


GBPUSD analysis for 27.06.2016

The UK is facing a critical economic situation and its currency is losing power against other currencies. GBPUSD is under the influence of the 10-year British bonds yield and the credit rating of the UK as well. Despite the pair’s attempt to rise after the historical low at 1.32231 the strong pull backs dragged the price down again. The support lies at 1.33280 with resistance at 1.34480 which both lines are below the monthly pivot point at 1.45270. Both the EMA of 10 and 75 are falling sharply and have passed the pivot point as well. All indicators are signaling sell opportunity, the RSI has already reached the oversold area but has been moving in that area since the referendum, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. Short positions are recommended with the target at 1.3300.


https://fxglory.com/gbpusd-analysis-for-27-06-2016/


EURUSD analysis for 27.06.2016

The UK referendum made the market volatile which was a historical event. While EUR will negotiate the UK regarding their exit, the UK remains a member of the Union till then. After EURUSD historical fall to 1.09110 this pair has been moving with bullish bias regardless of two pullbacks. The support rests at 1.09600 with resistance at 1.10580 which both lines are below the weekly pivot point at 1.11440. The EMA of 10 is falling down and has passed the EMA of 75. All indicators are showing bearish trend at the moment; the RSI is below the 50 level, the MACD indicator is in negative territory and a the Stochastic is showing strong sellers. Sellers can target 1.0900 for this pair but as the pair is still under the influence of the UK referendum it takes time to go back to its stable place.

https://fxglory.com/eurusd-analysis-for-27-06-2016/


Friday, June 24, 2016

USDCAD analysis for 24.06.2016

Canada is not releasing any data today and USDCAD will be under the influence of the UK referendum and the economic reports in the US such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Durable Goods Orders m/m, and Core Durable Goods Orders m/m. Today USDCAD rose to 1.31011 but it is falling down towards its pivot point again. The Support rests at 1.28830 which is below the weekly pivot point at 1.30230 with resistance at 1.31680. The RSI has hit the overbought line and is falling down, the MACD indicator is in negative territory and the Stochastic has reached its top and may fall soon. The EMA of 10 has reached the EMA of 75 below the support line. The price has already passed the pivot point and is falling down towards the support level. It may fall to 1.29500.

https://fxglory.com/usdcad-analysis-for-24-06-2016/


EURUSD analysis for 24.06.2016

The UK referendum has affected all currency pairs in forex. For EURUSD it weakened EUR and the price fell down. Moreover PMI Composite from Markit left a negative impact on EUR as well. Early today the price fell to 1.09110 but it is trying to make a correction and rise. The support rests at 1.09240 with resistance at 1.10200 which both lines are below the weekly pivot point at 1.1254. The EMA of 10 is falling down along with the EMA of 75. The RSI has reached the oversold area and it is going up. The MACD indicator is in neutral territory but the Stochastic has reached the 20 level and might rise again. The resistance level breakout will push the price to higher ranges targeting 1.1450.

https://fxglory.com/eurusd-analysis-for-24-06-2016/


GBPUSD analysis for 24.06.2016

GBP fell after the UK referendum and the USD is affected by Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Durable Goods Orders m/m, and Core Durable Goods Orders m/m. Early this morning GBPUSD fell to 1.32230 but it is trying to rise back again. The support rests at 1.28760 with resistance at 1.42220 which both lines are below the weekly pivot point at 1.42760. The EMA of 10 is meeting the EMA of 75 and both are falling towards the pivot point. The RSI has already passed the oversold area and is climbing up, the MACD indicator is in positive territory and the Stochastic has reached its bottom and will rise again. The pair is climbing up however there might be pullbacks on the way, the target is 1.4400

https://fxglory.com/gbpusd-analysis-for-24-06-2016/


USDJPY analysis for 24.06.2016

The British referendum made JPY more attractive which leads to the USDJPY price decline. The pair dropped to 99.011 this morning but it is moving up again. The support rests at 98.705 with resistance at 104.374 which both lines are below the weekly pivot point at 105.00. The EMA of 10 is falling down sharply and is below the EMA of 75. The RSI has already passed the oversold area and is climbing up, the MACD indicator is in neutral territory and the Stochastic is making a change and is moving up. The upward trend will target 106.50 so long positions are recommended at the moment.

https://fxglory.com/usdjpy-analysis-for-24-06-2016/


Thursday, June 23, 2016

NZDUSD analysis for 23.06.2016

NZDUSD is chiefly under the influence of the economic reports in the US such as the Natural Gas Storage, CB Leading Index m/m, New Home Sales, Flash Manufacturing PMI, and Unemployment Claims. NZDUSD is moving with bullish bias in both short and long term. The Support lies at 0.71550 with resistance at 0.72030 which both lines are above the weekly pivot point at 0.70350. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing upward movement. The ADX is showing strong buyers as well. However, the RSI has already reached the overbought area and there is a slight chance of pullbacks. The MACD indicator is also in positive territory. The pair is moving upward at the moment, bulls are not leaving the chart.

https://fxglory.com/nzdusd-analysis-for-23-06-2016/


USDCAD analysis for 23.06.2016

CAD is being supported by some economic reports such as Retail Sales ex Autos and the Canadian retail sales. Despite its effort to rise, USDCAD is finding strong resistance at 1.28 area. The support rests at 1.27820 with resistance at 1.28320 which both lines are below the weekly pivot point at 1.28680. The EMA of 10 is located below the EMA of 75 but both are moving horizontally. The ADX is showing strong buyers for this pair but the RSI and the MACD indicator are not showing any strong signals. The RSI is in 50 level and the MACD is in neutral zone. The support level breakthrough pulls the price down to 1.2680.

https://fxglory.com/usdcad-analysis-for-23-06-2016/


USDJPY analysis for 23.06.2016

USDJPY is under the influence of some economic reports such as Flash Manufacturing PMI in Japan and the Natural Gas Storage, CB Leading Index m/m, New Home Sales, Flash Manufacturing PMI, and Unemployment Claims in the US. After the previous low at 103.527, USDJPY has been moving with bullish bias. The support rests at 104.410 with resistance at 104.970 which both lines are below the monthly pivot point at 109.230. The EMA of 10 is moving below the EMA of 75 horizontally. Both the RSI and MACD indicators are in negative territory getting close to the neutral area however the Stochastic is showing upward momentum. The support level breakthrough pulls the price down to 103.50 otherwise the potential growth is at 106.00.

https://fxglory.com/usdjpy-analysis-for-23-06-2016/


GBPUSD analysis for 23.06.2016

Due to the polls regarding the Brexit, USD got weakened against many other currencies. GBPUSD started today with a sharp rise followed by a small pullback. The support lies at 1.46570 with resistance at 1.49190 which both lines are above the weekly pivot point at 1.42760. The EMA of 10 has already surpassed the EMA of 75 and is climbing up the ascendant channel. All indicators are showing price growth however, the RSI is getting to the overbought area which might lead to a price fall. Anyway, the MACD indicator is in positive territory and the Stochastic is showing upward momentum. In terms of the price growth, buyers can target 1.5000 otherwise the pair falls to 1.4400.

https://fxglory.com/gbpusd-analysis-for-23-06-2016/

EURUSD analysis for 23.06.2016

While EUR is being supported due to the Mario Draghi’s comments, USD is getting weak because of the Brexit issue which makes the market too risky to trade. Today EURUSD continued its bullish trend within the ascendant channel and still is moving upwards. The support rests at 1.13130 with resistance at 1.13610 which both lines are above the weekly pivot point at 1.12540. The EMA of 10 is also rising and is located above the EMA of 75. All indicators are signaling price growth; the RSI is above the 50 level, the MACD indicator is in positive territory and the Stochastic is showing upward momentum. In terms of the price growth, it will hit 1.1450.

https://fxglory.com/eurusd-analysis-for-23-06-2016/

Wednesday, June 22, 2016

EURJPY analysis for 22.06.2016

EURJPY is massively under the influence of world risk appetite. The pair started today with fluctuating in the bearish area however it tried to rise but the pullbacks took it back. The support rests at 117.180 with resistance at 118.140 which both lines are below the monthly pivot point at 123.120. The EMA of 10 is moving below the EMA of 75 showing the recent price decline. The RSI is below the 50 zone, the MACD indicator is in negative territory and the Stochastic is not showing any upward momentum. Short positions are recommended with the target at 115.50 however the resistance level breakout can push the price towards higher levels targeting 119.20.

https://fxglory.com/eurjpy-analysis-for-22-06-2016/


AUDUSD analysis for 22.06.2016

AUDUSD is under the influence of possible Brexit and Yellen’s speech regarding the economic condition in the US. The pair has been moving with bullish bias within the ascendant channel. The support rests at 0.74490 with resistance at 0.75170 which both lines are above the weekly pivot point at 0.73900. The EMA of 10 is rising as well and is moving above the EMA of 75. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen are showing horizontal trend. The RSI is rising towards the overbought line, the MACD indicator is in positive territory and the Stochastic is showing upward momentum. Long positions are recommended with the target at the previous high at 0.75120.

https://fxglory.com/audusd-analysis-for-22-06-2016/


USDCHF analysis for 22.06.2016

USDCHF is under the influence of Existing Home Sales, DOE Crude Oil Inventories, DOE Distillate Inventories, DOE Gasoline Inventories and DOE Refinery Utilization for USD and importing and exporting rate for CHF. Since the previous low at 0.95755 this pair has been moving in choppy pattern. The support rests at 0.96060 with resistance at 0.96340 which both lines are below the monthly pivot point at 0.97790. The EMA of 10 is moving horizontally below the EMA of 75. The RSI is staying at the 50 level along with the MACD indicator which is in neutral area. The Stochastic is already passed the 80 level and there is a great chance of falling down. As the price is getting close to the support area further decline is more probable. Short positions are recommended with the target at 0.9570.

https://fxglory.com/usdchf-analysis-for-22-06-2016/


USDJPY analysis for 22.06.2016

USD was supported after the Yellen’s speech and simultaneously JPY is losing power against USD. USDJPY will be affected by the risk appetite and the Brexit issue as well. USDJPY fell early today but is trying to rise creating bullish candles. The support lies at 104.290 with resistance at 104.970 which both lines are below the monthly pivot point at 109.230. The EMA of 10 is moving below the EMA of 75 showing the last bearish movement. The 104 level seems to be a strong resistance area and according to the indicators the price is falling within the descendant channel. The RSI is below the 50 level, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. Short positions are recommended with the target at 103.50.

https://fxglory.com/usdjpy-analysis-for-22-06-2016/


EURUSD analysis for 22.06.2016

EUR was supported by the economic sentiment release. For today EURUSD is under the influence of Draghi and Yellen’s speeches concerning the inflation and rates. Despite EURUSD bullish trend in the first hours of yesterday, two strong pullbacks made the pair move in lower ranges. The support lies at 1.12220 with resistance at 1.12680 which both lines are below the monthly pivot point at 1.12810. The EMA of 10 is crossing the EMA of 75 on the monthly pivot point. Indicators are not presenting any clear signals; the RSI is staying at 50 level, the MACD indicator is in neutral area and the Stochastic is showing weak upward momentum. The decrease will continue targeting 1.1250.

https://fxglory.com/eurusd-analysis-for-22-06-2016/


Tuesday, June 21, 2016

NZDUSD analysis for 21.06.2016

NZDUSD has been moving with bullish bias since the previous low at 0.66729. The support rests at 0.71030 with resistance at 0.72150 which both lines are above the weekly pivot point at 0.7035. The EMA of 10 is moving above the EMA of 75 showing the recent price growth. The RSI has already reached the overbought area and there is a great chance of falling towards the neutral area. The MACD indicator is in positive territory but it is not showing any upward strength. The Stochastic is moving in high ranges in 80 level. Pullbacks are expected at any time soon however the price may also rise further a little bit. Short positions are recommended with the target at 0.6950.

https://fxglory.com/nzdusd-analysis-for-21-06-2016/


EURJPY analysis for 21.06.2016

EUR is publishing ZEW Economic Sentiment, German ZEW Economic Sentiment, and German Constitutional Court Ruling along with Japan which is releasing all Industries Activity index m/m and Monetary Policy Meeting Minutes. Looking at the long term movement of EURJPY, this pair is falling down the descendant channel. The support lies at 117.310 with resistance at 118.600 which both lines are below the monthly pivot point at 123.120. The EMA of 10 is moving below the EMA of 75. All indicators are showing upward movement of the trend. The RSI is in neutral area heading upward, the Stochastic is showing bullish momentum and the MACD indicator is crossing the negative area. Long positions are recommended with the target at 117.25.


https://fxglory.com/eurjpy-analysis-for-21-06-2016/


USDJPY analysis for 21.06.2016

The Bank of Japan left the monetary policy unchanged which affected USDJPY resulting in USD being supported against JPY. Yesterday the market was not volatile for this pair and it moved with bearish bias but today bulls came back and now bulls are in charge. The support rests at 103.540 with resistance at 104.590 which both lines are below the weekly pivot point at 105.00. The EMA of 10 is moving below the EMA of 75. Although the MACD indicator is showing price decline, the Stochastic is showing upward momentum and the RSI has already passed the oversold area around 30 and is rising up. The price is below the Ichimoku Cloud and above the Chinkou Span, the Kijun sen is showing horizontal trend and the Tenkan sen is showing downward momentum. If the pair falls it will reach 103.50 otherwise it will rise to 106.00.

https://fxglory.com/usdjpy-analysis-for-21-06-2016/


EURUSD analysis for 21.06.2016

EURUSD is only under the influence of the Fed representative’s speech, Neel Kashkari. Yesterday the pair fell to 1.13015 but it has been moving with bullish bias since then. The support lies at 1.13160 with resistance at 1.13500 which both lines are above the weekly pivot point at 1.12540. The EMA of 10 is located above the EMA of 75 showing the recent price growth. Indicators are not presenting any clear signal for traders; the RSI is above the 50 level and is moving horizontally, the MACD indicator is in positive territory and the Stochastic is showing weak upward momentum. The resistance level breakout can push the price to higher levels targeting 1.1450 and the support level breakthrough can make the pair move in lower ranges around 1.11 level.

https://fxglory.com/eurusd-analysis-for-21-06-2016/

USDCAD analysis for 21.06.2016

The US is not releasing any economic data but on Friday Canada announced that the inflation is lower than what they expected. After the previous high at 1.30865 the pair has been moving with bearish bias. The support lies at 1.27670 with resistance at 1.28110 which both lines are below the weekly pivot point at 1.28680. The EMA of 10 is below the EMA of 75. All indicators are showing price decline, the RSI is below the 50 level, the MACD indicator is in neutral area and the Stochastic is showing downward momentum as well. However, the decline has already passed the 61.8 of Fibonacci retracement so there might be a reversal pattern at any time soon. If the pair continue its downward momentum it will drop to 1.2680 but in terms of reversal it will move to 1.3100.

https://fxglory.com/usdcad-analysis-for-21-06-2016/


Monday, June 20, 2016

NZDUSD analysis for 20.06.2016

Due to the risk appetite growth NZDUSD found support and is fluctuating around the 0.70 range. This morning NZDUSD started its movement with bullish bias finding support at 0.70680 with resistance at 0.71440 which both lines are above the weekly pivot point at 0.70350. The EMA of 10 is moving above the EMA of 75 showing the price growth in recent days. The RSI is in overbought area and the MACD indicator is in positive territory but it is not showing any momentum for staying there. The Stochastic is showing upward momentum as well. Short positions are recommended with the target at 0.7015.

https://fxglory.com/nzdusd-analysis-for-20-06-2016/


USDJPY analysis for 20.06.2016

USDJPY is only affected by the Trade Balance in Japan because the US is not releasing any economic data. Moreover yen is being supported by the Bank of Japan decision regarding the monetary policy. USDJPY has been moving with bearish bias since the previous high at 111.452. The support rests at 104.310 with resistance at 105.010 which both lines are below the monthly pivot point at 109.230. The EMA of 10 is moving below the EMA of 75 showing the current price fall. The RSI is getting close to the neutral area and the MACD indicator is in negative territory. However the Stochastic is showing upward momentum. The support level breakthrough will push the price downward within the descendant channel targeting 103.50.

https://fxglory.com/usdjpy-analysis-for-20-06-2016/


GBPUSD analysis for 20.06.2016

Brexit is influencing many currency pairs at the moment and also the murder of the Parliament member is another important news factor for today. When the market opened there was a sudden rise for this pair but now it is creating a bearish candle. The support rests at 1.45270 with resistance at 1.46510 which both lines are above the weekly pivot point at 1.42760. The EMA of 10 had a sharp rise as well and just crossed the EMA of 75 but this rise would not last long. The RSI is in overbought area and may fall soon and the MACD indicator is in neutral zone. The 1.50 area is the strong resistance area and it seems that sellers are not going to be replaced by buyers. At the moment we stay bearish and wait for the price to drop to 1.4150.


https://fxglory.com/gbpusd-analysis-for-20-06-2016/


EURUSD analysis for 20.06.2016

EURUSD is chiefly under the influence of Brexit issue for today. When the market opened there was a sudden rise for this pair but now it is creating a bearish candle. The support lies at 1.12880 with resistance at 1.13880 which both lines are above the weekly pivot point at 1.12540. The EMA of 10 is rising and has just crossed the EMA of 75.The RSI is at the overbought area and it may fall at any time soon. The MACD indicator is in positive territory and the Stochastic is showing price growth as well. The chart looks more bearish than bullish at this point. The decrease will continue until it reaches 1.1130.

https://fxglory.com/eurusd-analysis-for-20-06-2016/


Thursday, June 16, 2016

EURUSD analysis for 16.06.2016

As rates are going to stay unchanged due to the Fed’s decision, EURUSD is chiefly affected by the referendum in the UK. Yesterday as we mentioned, EURUSD went up to complete its correction pattern and now it has passed the level 50 of Fibonacci retracement. The support rests at 1.12460 with resistance at 1.12860 which both lines are below the weekly pivot point at 1.13030. The EMA of 10 is moving along with EMA of 75 with bullish bias. The RSI is staying at the neutral zone and the MACD indicator is in negative territory. The pair’s movement depends on the coming candles. The support level breakthrough will show that the reversal pattern has finished and the price would go down targeting 1.1130. On the other hand, if the resistance is broken, the pair will continue its bullish movement targeting 1.1400

https://fxglory.com/eurusd-analysis-for-16-06-2016/

USDJPY analysis for 16.06.2016

As Feds leave the rates unchanged, it supported JPY. USDJPY is affected by economic data such as BOJ Press Conference and Monetary Policy Statement in Japan and the Natural Gas Storage, NAHB Housing Market Index, Current Account, Unemployment Claims, Philly Fed Manufacturing Index, Core CPI m/m, and CPI m/m in the US. USDJPY is falling sharply; the support lies at 103.120 with resistance at 106.300 which both lines are below the weekly pivot point at 107.050. The EMA of 10 is falling down the descendant channel as well and it is located below the EMA of 75. The price is under the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing price fall. Moreover, the MACD indicator is in negative territory, the RSI is below the oversold area and the Stochastic is showing price decline. Short positions are recommended with the target at 103.40.

https://fxglory.com/usdjpy-analysis-for-16-06-2016/


USDCAD analysis for 16.06.2016

CAD was not supported by the manufacturing sector and on the other hand oil is threatening CAD as well. The pair has been moving with bullish bias within the descendant channel. The support rests at 1.28730 with resistance at 1.29690 which both lines are above the weekly pivot point at 1.28040. The price is moving in neutral area where the EMA of 10 is reaching the EMA of 75. All indicators are signaling buy opportunity; the MACD indicator is in positive territory, the RSI is above the neutral zone and has already passed the overbought level and the ADX is showing stronger buyers. However it seems that the 1.29690 is a strong resistance for this pair therefore there might be pullbacks for today. The support level breakthrough will lead the price to lower levels targeting 1.2800; otherwise the pair will continue its bullish trend targeting 1.1320.

https://fxglory.com/usdcad-analysis-for-16-06-2016/


GBPUSD analysis for 16.06.2016

GBP is under the influence of Brexit issue, the Unemployment Rate and the average Earnings. As shown in the chart GBPUSD has been volatile these days creating long candles. The support lies at 1.41310 with resistance at 1.42110 which both lines are below the weekly pivot point at 1.4365. The EMA of 10 is moving below the EMA of 75 with bearish bias. Indicators are not showing clear signals, the RSI is in neutral zone, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. Buyers can have a slight chance of making profit if the resistance level is broken targeting 1.4400 otherwise the decrease will continue to 1.4060.

https://fxglory.com/gbpusd-analysis-for-16-06-2016/

EURJPY analysis for 16.06.2016

The European market is under the influence of Final Core CPI y/y, Eurogroup Meetings, Final CPI y/y, and ECB Economic Bulletin and Japan is releasing BOJ Press Conference and Monetary Policy Statement. EURJPY is falling down the descendant channel but today there was a sharp fall. The support lies at 116.330 with resistance at 119.770 which both lines are below the weekly pivot point at 120.960. The EMA of 10 is located below the EMA of 75 and they are both falling down as well. All indicators are showing price decline; The RSI is reaching the oversold area and it may rise soon, the MACD indicator is in positive territory and the Stochastic is showing downward momentum. The price is under the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing price fall. It seems that the price fall is getting done and there might be buy opportunity at any time now.

https://fxglory.com/eurjpy-analysis-for-16-06-2016/


Wednesday, June 15, 2016

NZDUSD analysis for 15.06.2016

NZDUSD is under the influence of The Fed and BoJ meeting and the oil market. After the previous high at 0.71456, NZDUSD has been moving with bearish bias within the descendant channel. The support rests at 0.69510 with resistance at 0.70590 which both lines are above the monthly pivot point at 0.6830. The EMA of 10 is falling down as well and it is located above the EMA of 75. The RSI is in neutral zone along with the MACD indicator. If the indicators fell into the negative territory then it would be a good sell opportunity. Short positions are recommended with the target at 0.6970.

https://fxglory.com/nzdusd-analysis-for-15-06-2016/

USDJPY analysis for 15.06.2016

Yesterday the Japanese Finance Minister, Taro Aso, mentioned the strong JPY which may affect the currency market. Today FOMC Statement will influence this pair as well. After the previous low at 105.60 yesterday, USDJPY has been moving with bullish bias. The support rests at 105.93 with resistance at 106.39 which both lines are below the weekly pivot point at 107.05. The EMA of 10 is tuning into a rising trend after its sharp fall and the EMA of 75 is falling down and it is located above the EMA of 10. The MACD indicator is in negative territory and the RSI is below the 50 level; however the Stochastic is showing upward momentum. There are no enough signals for traders to decide what to do so it is better to wait for a better chart setup.

https://fxglory.com/usdjpy-analysis-for-15-06-2016/