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Forex Daily Technical Reports

Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technician. The bottom line when utilizing any type of analytical method, technical or otherwise, is to stick to the basics, which are methodologies with a proven track record over a long period. After finding a trading system that works for you, the more esoteric fields of study can then be incorporated into your trading toolbox.



US Presidential Debate Moves Unwind; Gold Coiling for Breakout Print E-mail
Daily Forex Technicals | Written by Forex.com | Sep 27 16 13:31 GMT
The market's initial response to the US presidential election debate overnight was a clear sigh of relief. The Mexican Peso, which had hit a record low against the dollar just the day before, surged higher, as too did the Canadian dollar, Japanese Yen and global stock index futures. However most of those moves have already reversed as traders were quick to take profit, knowing full well that a TV debate may not necessarily impact the outcome of the actual votes in a meaningful way, especially those of the die-hard supporters of Trump and Clinton.
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Forex Technical Analysis Print E-mail
Daily Forex Technicals | Written by DeltaStock Inc. | Sep 27 16 10:54 GMT
USD/JPY Current rebound above 100.10 lows should be limited below 101.20 resistance and the latter should provoke a slide towards 99.53.
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EURUSD Eases From Recovery High At 1.1277, N/T Focus Remains At 1.1300/25 Targets Print E-mail
Daily Forex Technicals | Written by Windsor Brokers Ltd | Sep 27 16 10:03 GMT
The Euro eases from the peak of strong four-day recovery at 1.1277, where rally found strong resistance (Fibo 76.4% of 1.1325/1.1122/former highs of 15/09 Sep). Pullback found footstep at 1.1234 (lower Bollinger band of hourly chart, reinforced by 30SMA/daily Kijun-sen line), which is expected to ideally contain dips.
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Cable - Bounce From 1.2913 Base Stays Capped By 1.3000 Barrier Print E-mail
Daily Forex Technicals | Written by Windsor Brokers Ltd | Sep 27 16 09:37 GMT
Strong support is forming at 1.2913 (Friday/Monday lows) where recent weakness found footstep, ahead of today’s bounce. Fresh recovery action generated bullish signal on recovery from 1.2913 double-bottom, but gains so far failed at strong 1.3000 resistance zone, which was cracked on extension to 1.3007 (session high).
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USDJPY - Strong 100.00 Support Zone Holds For Now, Outlook Remains Negative Print E-mail
Daily Forex Technicals | Written by Windsor Brokers Ltd | Sep 27 16 09:36 GMT
The pair showed strong hesitation at 100.00 support zone which was retested today, after Monday’s strong fall that left long red daily candle. Immediate downside risk was sidelined by bounce to 100.97, however, rally stalled on approach to near-term pivots at 101.06 and 101.23.
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AUDUSD - Fresh Strength Above Daily Cloud Eyes Targets At 0.7730/58 Print E-mail
Daily Forex Technicals | Written by Windsor Brokers Ltd | Sep 27 16 09:27 GMT
Fresh strength that emerged after three-day consolidation signaled resumption of larger uptrend and extended gains near round-figure 0.7700 barrier so far. Rally extended above daily cloud top at 0.7629, around which the price traded in past couple of sessions, turning it to strong support. Near-term focus turns towards key barriers at 0.7730 (08 Sep high) and 0.7758 (peak of 11 Aug), as completion of short-term corrective phase from 0.7758 to 0.7440 would open way towards key med-term barrier at 0.7833 (24 Apr recovery peak).
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EUR/USD Fails At 1.1253 Print E-mail
Daily Forex Technicals | Written by Dukascopy Swiss FX Group | Sep 27 16 08:54 GMT
EUR/USD took up where it left off on Tuesday, proving levels above 1.1253 out of reach with a red candle half the size of Monday's green one. The pair's way south would be a rocky one, if the bullish momentum is indeed captured, presenting 1.1190/88 as the first serious obstacle. Levels 1.1170 and 1.1155 could cause some real trouble, as the SMAs they represent have before, making levels below to less attractive. We would, however, expect the current resistance to break over the next few days to complete the journey towards 1.1275, where the rate would finish the correction of the broken channel trend-line it has been undergoing for almost two weeks already.
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GBP/USD Remains Below 1.30 Print E-mail
Daily Forex Technicals | Written by Dukascopy Swiss FX Group | Sep 27 16 08:53 GMT
Monday ended with the Cable remaining relatively unchanged, amid a weaker US Dollar, mainly due to yesterday's US political debates. Nevertheless, there is no event that could help the Sterling recover from intraday losses today, thus, we should see another leg down, as technical indicators suggest. The key support, preventing the pair from falling to Brexit lows, is still the cluster around 1.2880, represented by the Bollinger band, the weekly and the monthly S1s. At the same time, the weekly PP is keeping the GBP/USD pair from climbing back over the 1.30 major level, being the closest resistance.
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USD/JPY Gravitates Towards 50% Fibo Print E-mail
Daily Forex Technicals | Written by Dukascopy Swiss FX Group | Sep 27 16 08:52 GMT
Investors sold the American Dollar on Monday, due to uncertainty emitting from the US political debates that day. As a result, the USD/JPY currency pair crossed the nearest demand area, represented by the monthly S1 and the 50% Fibo. However, a significant drop lower would still be an achievement, as it would imply a full-scale breach of the 100.00 psychological level. In turn, the 100.00 mark is reinforced by the weekly S1 and the Bollinger band, also indicating that a fall deeper down is highly improbable today. The base case scenario is a rally, but it is uncertain whether the Buck will be able to climb over the 100.75 level, with technical indicators unable to confirm the bullish scenario.
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Gold Attempts To Build Up Bearish Potential Print E-mail
Daily Forex Technicals | Written by Dukascopy Swiss FX Group | Sep 27 16 08:51 GMT
Following a non-volatile trading session on Monday, Gold managed to tap at the top trend-line of the three-month descending triangle at 1339.83. XAU/USD is currently approaching 1332.22, the 55-day SMA which will then shift the risk to 1329.53 if broken. The senior wedge bottom trend-line is likely to limit the weakness at 1317.97, which will possibly serve as a starting point for a reversal when the pair begins to move to the top trend-line of the wedge. The triangle, however, suggests that the wedge might be mature enough to break soon, suggesting that a violation of 1317.97 is feasible and could open the way to 1302.08, the bottom trend-line of the triangle.
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US Dollar Support Levels Indicate Key Decision Zone Print E-mail
Daily Forex Technicals | Written by Admiral Markets | Sep 27 16 07:11 GMT
The EUR/USD managed to break above the resistance trend line (dotted orange) yesterday but also was unable to push above the Fibonacci levels of wave X (blue) as expected. Only a break above the top (purple) invalidates the larger consolidation zone marked as wave X (blue). It seems more likely that a larger waves Y is developing within a contracting triangle on the daily chart (wave d green).
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Daily Technical Outlook And Review Print E-mail
Daily Forex Technicals | Written by IC Markets | Sep 27 16 07:05 GMT
During the course of Monday's sessions, the single currency broke above the H4 trendline resistance extended from the high 1.1366 (along with its merging H4 mid-way resistance at 1.1250) and reached a high of 1.1279 on the day. Evident from the H4 chart, the candles are now retesting the top edge of 1.1250, which is so far holding firm.
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EUR/USD: Backed Off The 1.1279 High Which Stands Just Below The 1.1284 Resistance And 1.1300 Level Print E-mail
Daily Forex Technicals | Written by Danske Bank | Sep 27 16 06:57 GMT
Backed off the 1.1279 high which stands just below the 1.1284 resistance and 1.1300 level. Break here will clear the way for retest of the 1.1327 and 1.1366 highs. Support now at 1.1221 and 1.1194 and only below the latter will see risk for deeper pullback to the 200-day MA at 1.1156 then 1.1123 low. [PL]
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Market Morning Briefing Print E-mail
Daily Forex Technicals | Written by Kshitij Consultancy Services | Sep 27 16 03:05 GMT
Dollar Index (95.45) has been consolidating at the lower levels after the sharp loss last week. Another downleg may emerge in the latter half of the week with the upside limited to 95.80 for now. Euro (1.1231) has made a high of 1.1242 today, close to our immediate target of 1.1250. As long as the support of 1.12 holds, the chances of a retest of 1.13 this week can’t be ruled out.
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GBP Technical Analysis Against USD, JPY And EUR Print E-mail
Daily Forex Technicals | Written by Forex.com | Sep 27 16 02:18 GMT
The GBP/USD has finally found some support today, though it is too early to say whether the selling pressure is over just yet. There hasn’t been any real news out to support the pound. If anything, news out of the UK has been actually bearish. For example, a survey of 100 business leaders by accountancy firm KPMG has shown that the vast majority would consider moving their headquarters or operations outside Britain due to Brexit. So the GBP/USD’s slight improvement could just be a case of short-covering, supported further by the fact that the dollar has sold off more than the pound today with EUR/USD also rallying and USD/JPY falling back below 100.30. Indeed, the GBP/JPY is actually trading lower, while the EUR/GBP is higher, though both are off their extreme levels. Thus, at this stage there is no real evidence that the pound is catching a bid. However, that could change as sterling has reached some key levels against its main rivals.
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USDCHF - Weakens Further, Eyes Key Psycho Level Print E-mail
Daily Forex Technicals | Written by FXTechstrategy | Sep 27 16 02:13 GMT
USDCHF - The pair declined further on Monday leaving risk lower in the new week. On the downside, support lies at the 0.9600 level. A turn below here will open the door for more weakness towards the 0.9550 level and then the 0.9500 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.9700 level where a break will clear the way for more strength to occur towards the 0.9750 level. Further out, resistance comes in at the 0.9800 level. All in all, USDCHF remains biased to the downside on further corrective weakness.
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Stocks Start Last Week of September on the Back Foot Print E-mail
Daily Forex Technicals | Written by Forex.com | Sep 26 16 16:28 GMT
It hasn't been a great start for global equities in this last week of September, with European indices dropping between 1.0 to 1.5 per cent during Monday's morning session, mirroring a similar performance in Chinese and Japanese markets overnight. Wall Street has further extended its falls at the open from Friday when the S&P 500 closed down more than half a percent. At the time of this writing, the major indices were again down by around 0.5% or more.
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NZD/USD Weekly Pinbar Suggesting Bearish Pressure Print E-mail
Daily Forex Technicals | Written by Admiral Markets | Sep 26 16 10:47 GMT
NZD/USD is riding higher time frame momentum. Piggyback weekly sell is reflecting on lower time frames where we could start searching for short trade opportunities. I see 2 possible scenarios. If the price proceeds below the 0.7220 and if we see 4h close below it, we could see 0.7195 and 0.7150. A pullback to POC (H3, DPP, EMA89, 38.2, inner trend line) 0.7260-75 could spike down the price towards 0.7220 and below. Judging from both weekly and daily trend and momentum, targets could be even lower then L5 is suggesting if the NZD/USD keeps dropping and we will assess it once (and if) the target L5 is reached.
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Gold Trades In Extended Consolidation Under Daily Cloud Top Print E-mail
Daily Forex Technicals | Written by Windsor Brokers Ltd | Sep 26 16 10:25 GMT
Spot Gold extends consolidation under daily Ichimoku cloud top that capped strong rally last week. Double Doji candle confirms near-term indecision, however, current action is so far seen as consolidation of bullish acceleration from $1307 that peaked at $1343, as strong bullish weekly close and long daily bullish candle that was formed post-Fed on 21 Sep, underpin the action.
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AUDUSD Extends Correction, Daily Kijun-Sen Expected To Ideally Contain Dips Print E-mail
Daily Forex Technicals | Written by Windsor Brokers Ltd | Sep 26 16 10:20 GMT
The Aussie extends corrective easing from 0.7672 peak (posted on 22 Sep) into second day. Friday’s close in red and below daily cloud top at 0.7633, generated negative signal for deeper correction, with the notion being supported by Slow Stochastic that emerges from overbought territory.
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