Technical Analysis – Action Forex

EUR/USD Could Be Retraced By S1

Dukascopy Swiss FX Group — Wed, 27 Mar 2019 09:51:12 +0000

During Tuesday’s trading session, the European Single Currency depreciated against the US Dollar to pass through the small pattern line to the 1.1240 level as it was predicted! On Wednesday morning, the rate was located above the monthly S1 at the 1.1267 mark. In regards to the near-term future, most likely, the currency exchange rate […]

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GBP/USD Might Appreciate To 1.3250

Dukascopy Swiss FX Group — Wed, 27 Mar 2019 09:50:25 +0000

During Tuesday’s trading session, the British Pound depreciated against the US Dollar to pass through 200-hour simple moving average. During Wednesday’s midnight hours, the rate kept depreciating to trade at the 1.3188 mark. In regards to the near-term future, most likely, the British Pound will appreciate against the US Dollar to break the resistance levels […]

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USD/JPY Trades Sideways At 110.60

Dukascopy Swiss FX Group — Wed, 27 Mar 2019 09:49:39 +0000

During Tuesday’s trading session, the currency exchange rate was supported by the weekly pivot point to end the trading session at 110.50. On Wednesday morning, the rate was located above the monthly pivot point at the 110.64 mark. In regards to the near-term future, most likely, the trade will be trading sideways to stay between […]

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XAU/USD Surges To Monthly PP At 1,321.03

Dukascopy Swiss FX Group — Wed, 27 Mar 2019 09:48:41 +0000

During Tuesday’s trading session, the yellow metal traded between the 55-hour and the 100-hour simple moving averages to break the medium pattern line at 1,316.00. On Wednesday morning, gold was located above the medium pattern line at the 1,316.86 mark. In regards to the near-term future, most likely, the 100-hour simple moving average will support […]

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GBP/USD Outlook: Extended Directionless Mode Ahead Of MP’s Vote On Brexit

Windsor Brokers Ltd — Wed, 27 Mar 2019 09:43:23 +0000

Cable remains in directionless mode for the third straight day and awaiting fresh signals from today’s UK parliament meeting. UK lawmakers are going to wrest control of Brexit and try to break the deadlock and push things forward, on today’s vote on a variety of possible Brexit outcomes. The list of options is on the […]

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Gold Declines As Risk Sentiment Improves

Orbex — Wed, 27 Mar 2019 09:34:39 +0000

Gold prices lost 0.46% on the day on Tuesday erasing most of the gains made from the day before. Price action, however, remains a bit volatile. The declines came as the market sentiment was seen showing a modest improvement following the initial panic after fears of a recession saw investors fleeing to safe haven assets. […]

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Yen Extends Losses Despite Weak US Data

Orbex — Wed, 27 Mar 2019 09:33:38 +0000

The Japanese yen eased back as the currency fell 0.59% on Tuesday. The reversal came as the USD regained the bullish momentum despite a mixed economic outlook. Housing starts grew 1.16M on the month coming out less than expected while the conference board’s consumer confidence surprisingly fell to 124.1 from 131.4 previously. USDJPY Bullish at […]

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Euro Trades Weaker On Mixed Data

Orbex — Wed, 27 Mar 2019 09:32:31 +0000

The euro was down 0.38% on the day despite economic data from the eurozone staying sparse. The Gfk consumer climate report from Germany showed a decline to 10.4 from 10.7 previously. The fourth quarter GDP report from France was revised to show a 1.0% increase compared to a 0.9% increase as previously reported. Will the […]

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Crude Oil The Bias Remains Bullish

Swissquote Bank SA — Wed, 27 Mar 2019 09:19:01 +0000

Pivot (invalidation): 59.65 Our preference Long positions above 59.65 with targets at 60.35 & 60.55 in extension. Alternative scenario Below 59.65 look for further downside with 59.35 & 59.10 as targets. Comment Technically the RSI is above its neutrality area at 50.

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Silver Spot Consolidation In Place

Swissquote Bank SA — Wed, 27 Mar 2019 09:17:54 +0000

Pivot (invalidation): 15.5200 Our preference Short positions below 15.5200 with targets at 15.3500 & 15.2400 in extension. Alternative scenario Above 15.5200 look for further upside with 15.5800 & 15.6300 as targets. Comment The RSI is mixed to bearish.

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Gold Spot Consolidation In Place

Swissquote Bank SA — Wed, 27 Mar 2019 09:16:45 +0000

Pivot (invalidation): 1319.00 Our preference Short positions below 1319.00 with targets at 1312.50 & 1308.50 in extension. Alternative scenario Above 1319.00 look for further upside with 1324.50 & 1327.50 as targets. Comment As Long as 1319.00 is resistance, expect a return to 1312.50.

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S&P 500 Bullish Bias Above 2800.00

Swissquote Bank SA — Wed, 27 Mar 2019 09:15:26 +0000

Pivot (invalidation): 2800.00 Our preference Long positions above 2800.00 with targets at 2829.00 & 2844.75 in extension. Alternative scenario Below 2800.00 look for further downside with 2787.00 & 2767.25 as targets. Comment The RSI is mixed to bullish.

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DAX The Downside Prevails

Swissquote Bank SA — Wed, 27 Mar 2019 09:14:12 +0000

Pivot (invalidation): 11470.00 Our preference Short positions below 11470.00 with targets at 11349.00 & 11280.00 in extension. Alternative scenario Above 11470.00 look for further upside with 11520.00 & 11590.00 as targets. Comment As Long as the resistance at 11470.00 is not surpassed, the risk of the break below 11349.00 remains high.

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USD/TRY Expect 5.2400

Swissquote Bank SA — Wed, 27 Mar 2019 09:11:28 +0000

Pivot (invalidation): 5.4600 Our preference Short positions below 5.4600 with targets at 5.3000 & 5.2400 in extension. Alternative scenario Above 5.4600 look for further upside with 5.5640 & 5.6350 as targets. Comment As Long as 5.4600 is resistance, look for choppy price action with a bearish bias.

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AUD/USD The Downside Prevails

Swissquote Bank SA — Wed, 27 Mar 2019 09:10:26 +0000

Pivot (invalidation): 0.7130 Our preference Short positions below 0.7130 with targets at 0.7095 & 0.7080 in extension. Alternative scenario Above 0.7130 look for further upside with 0.7145 & 0.7155 as targets. Comment The immediate trend remains down and the momentum is strong.

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USD/CAD Key Resistance At 1.3400

Swissquote Bank SA — Wed, 27 Mar 2019 09:08:18 +0000

Pivot (invalidation): 1.3400 Our preference Short positions below 1.3400 with targets at 1.3365 & 1.3345 in extension. Alternative scenario Above 1.3400 look for further upside with 1.3425 & 1.3445 as targets. Comment The upward potential is likely to be limited by the resistance at 1.3400.

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USD/CHF Towards 0.9985

Swissquote Bank SA — Wed, 27 Mar 2019 09:07:06 +0000

Pivot (invalidation): 0.9935 Our preference Long positions above 0.9935 with targets at 0.9970 & 0.9985 in extension. Alternative scenario Below 0.9935 look for further downside with 0.9915 & 0.9895 as targets. Comment The RSI calls for a new upleg.

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USD/JPY 110.95 Expected

Swissquote Bank SA — Wed, 27 Mar 2019 09:03:48 +0000

Pivot (invalidation): 110.30 Our preference Long positions above 110.30 with targets at 110.70 & 110.95 in extension. Alternative scenario Below 110.30 look for further downside with 110.00 & 109.70 as targets. Comment The RSI lacks downward momentum.

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GBP/USD Caution

Swissquote Bank SA — Wed, 27 Mar 2019 09:02:51 +0000

Pivot (invalidation): 1.3170 Our preference Long positions above 1.3170 with targets at 1.3220 & 1.3260 in extension. Alternative scenario Below 1.3170 look for further downside with 1.3140 & 1.3085 as targets. Comment Intraday technical indicators are mixed and call for caution. See if the repeatedly-tested key support at 1.3170 can hold.

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EUR/USD Aim @ 1.1210

Swissquote Bank SA — Wed, 27 Mar 2019 09:02:02 +0000

Pivot (invalidation): 1.1295 Our preference Short positions below 1.1295 with targets at 1.1235 & 1.1210 in extension. Alternative scenario Above 1.1295 look for further upside with 1.1325 & 1.1360 as targets. Comment The RSI has broken down its 30 level.

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