Exness Technical Daily

[meeru]

NZDUSD bounced perfectly, remain bullish

NZDUSD
Nov. 28, 2016, 04:41
Buy above 0.7012. Stop loss at 0.6948. Take profit at 0.7137.

Reason for the trading strategy (technically):

Price bounced perfectly above our buying level from Friday and is making good progress towards our profit target. We remain bullish above 0.7012 support (Fibonacci retracement, horizontal pullback support) for a further push up to 0.7137 (Fibonacci retracement, horizontal resistance, bullish divergence potential).

RSI (34) is also seeing a bounce from support at 36% and bullish divergence vs price signalling a bullish reversal is in progress.

 

[meeru]

USDJPY profit target reached, prepare to buy on weakness

USDJPY
Dec. 1, 2016, 04:23
Buy above 113.30. Stop loss at 112.57. Take profit at 114.47.

Reason for the trading strategy (technically):

Price rose perfectly and reached our profit target from yesterday. Today the key view is to buy on weakness above 113.30 major support (Fibonacci retracement, Fibonacci projection, horizontal pullback support) for a push up towards 114.47.

Stochastic (21,5,3) would need to be above 3.9% major support when price drops towards our buying area.

Reason for the trading strategy (fundamentally):

The main news event driving USD today is the U.S. ISM Manufacturing survey. It is one of the biggest market moving economic releases because of its Prices Paid and Employment subcomponents which reflect sentiment towards inflation and labor conditions - two of the market's most significant health indicators. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. We’re expecting forecasts of an increase which means a bullish USD is expected, this goes in line with our bullish USDJPY strategy view.

 

[meeru]

AUDNZD approaching major support, prepare to buy

AUDNZD
Dec. 1, 2016, 04:22
Buy above 1.0369. Stop loss at 1.0315. Take profit at 1.0453.

Reason for the trading strategy (technically):

Price is approaching major support at 1.0369 (Fibonacci projection, horizontal swing low support) where we expect a bounce from for a rise towards at least 1.0453 (Fibonacci retracement, horizontal pullback resistance).

RSI (34) is seeing major support at 34%.

 

[meeru]

NZDUSD profit target almost reached, remain bearish

NZDUSD
Dec. 1, 2016, 04:20
Sell below 0.7137. Stop loss at 0.7197. Take profit at 0.7032.

Reason for the trading strategy (technically):

Price has dropped perfectly towards our profit target from yesterday. We remain bearish looking to sell on strength below 0.7137 resistance (Fibonacci retracement, pullback resistance) for a further drop towards 0.7032.

RSI (34) remains below descending bearish resistance.

Reason for the trading strategy (fundamentally):

The main news event driving USD today is the U.S. ISM Manufacturing survey. It is one of the biggest market moving economic releases because of its Prices Paid and Employment subcomponents which reflect sentiment towards inflation and labor conditions - two of the market's most significant health indicators. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. We’re expecting forecasts of an increase which means a bullish USD is expected, this goes in line with our bearish NZDUSD strategy view.

 

[meeru]

This week, the dollar may test the level of 102.7 yen

Weekly
Aug. 29, 2016, 09:17
Last Friday, the head of the US Federal Reserve Janet Yellen said that in recent years the number of arguments in favor of a rate hike has increased substantially. She noted that the US federal Reserve's forecast is based on the fact that the US GDP will grow at a moderate pace, the labor market recovery will continue and inflation will rise to the target value in the coming years. Yellen stressed that the Federal Open Market Committee's final decision will depend on the incoming macroeconomic data. The publication of the statistics on the US labor market for August will have a significant impact on the US Federal Reserve's decision on rates for September. If in August the number of jobs outside the US agricultural sector increases by 250 thousand, the US Federal Reserve could raise the interest rates in September. However, in the baseline scenario, market participants do not expect to see a rate hike in the United States until December.

This week, publication of data on personal income and spending American of consumers, the ISM business activity index in the US manufacturing sector, and the statistics on the labor market in the US index may provide support for the dollar. During the week the EURUSD, GBPUSD, USDJPY pairs may test the levels of 1.11, 1.30, 102.7, respectively.*

 

[meeru]

XAGUSD at major resistance, prepare to sell

XAGUSD
Dec. 8, 2016, 04:48
Sell below 17.20. Stop loss at 17.39. Take profit at 16.85.

Reason for the trading strategy (technically):

Price is right at major resistance 17.20 (Fibonacci retracement, Fibonacci projection, horizontal resistance) where we expect a drop from to at least 16.85 support (Fibonacci retracement, horizontal overlap support).

Stochastic (21,5,3) is seeing major resistance where we expect a reaction from.

 

[meeru]

AUDNZD target almost reached, remain bearish

AUDNZD
Dec. 8, 2016, 04:47
Sell below 1.0415. Stop loss at 1.0460. Take profit at 1.0367.

Reason for the trading strategy (technically):

Price continues to drop perfectly towards our profit target. The goal is to sell on strength below 1.0415 major resistance (Fibonacci retracement, horizontal pullback resistance) for a continued drop to 1.0367.

RSI (34) remains below long term descending resistance.

 

[meeru]

NZDUSD profit target reached again, prepare to turn bearish

NZDUSD
Dec. 8, 2016, 04:46
Sell below 0.7235. Stop loss at 0.7291. Take profit at 0.7160.

Reason for the trading strategy (technically):

Price rose perfectly to reached our profit target yesterday. We prepare to turn bearish below major resistance at 0.7235 (Fibonacci retracement, Fibonacci projection, horizontal pullback resistance) where we expect a reaction from and a drop to at least 0.7160.

Stochastic (21,5,3) is approaching major resistance at 92%.

 

[meeru]

USDJPY profit target almost reached, remain bearish

USDJPY
Dec. 8, 2016, 04:45
Sell below 113.91. Stop loss at 114.19. Take profit at 113.14.

Reason for the trading strategy (technically):

Price has dropped nicely towards our profit target. We remain bearish below 113.91 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci projection) as we expect a further push down to 113.14.

Stochastic (21,5,3) has made a bearish pullback to breakout resistance.

 

[meeru]

GBPUSD dropping really nicely, remain bearish

GBPUSD
Dec. 8, 2016, 04:43
Sell below 1.2685. Stop loss at 1.2785. Take profit at 1.2515.

Reason for the trading strategy (technically):

Price is seeing major resistance at 1.2685 (Fibonacci retracement, horizontal resistance, bearish divergence) and we expect to see a drop from here to at least 1.2515 (Fibonacci retracement, horizontal overlap support, Fibonacci projection).

RSI (34) is seeing bearish divergence vs price signalling a reversal is fast approaching.