Exness Technical Daily

[meeru]

AUDJPY profit target reached once again, prepare to sell

AUDJPY
Jan. 19, 2017, 04:33
Sell below 86.27. Stop loss at 86.57. Take profit at 85.75.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target. We prepare to turn bearish below strong resistance at 86.27 (Fibonacci projection, horizontal swing high resistance) for a push down to 85.75 (Fibonacci retracement, horizontal overlap support).
Stochastic (21,5,3) is seeing strong resistance at the 90% level.

 

[meeru]

NZDUSD profit target reached, prepare to sell again

NZDUSD
Jan. 19, 2017, 04:40
Sell below 0.7145. Stop loss at 0.7188. Take profit at 0.7068.
Reason for the trading strategy (technically):
Price has dropped nicely and reached our profit target perfectly. We continue to sell below resistance at 0.7145 (previous support turned resistance, Fibonacci retracement) for a push down to 0.7068 (Fibonacci projection, Fibonacci retracement, horizontal swing low support).
RSI (34) has made a bearish exit of its long term ascending support-turned-resistance line signalling a change in momentum to bearish.

 

[meeru]

USDCHF remain bearish

USDCHF
Jan. 19, 2017, 04:42
Sell below 1.0085. Stop loss at 1.0134. Take profit at 1.0000.
Reason for the trading strategy (technically):
Price has bounced above big figure 1.0000 perfectly. We remain bearish below 1.0085 resistance (Fibonacci retracement, Fibonacci projection) for a push down to test support at 1.0000 once again.
RSI (34) is seeing strong descending resistance which is keeping the bearish bias on USDCHF.

 

[meeru]

USDJPY approaching strong resistance, prepare to sell

USDJPY
Jan. 19, 2017, 04:53
Sell below 114.65. Stop loss at 115.53. Take profit at 113.60.
Reason for the trading strategy (technically):
Price is approaching long term descending resistance and we expect to see a reversal below this level at 114.81 (Fibonacci retracement, Fibonacci projection) for a push down to 113.60 support (Fibonacci retracement, horizontal overlap support).
Stochastic (21,5,3) is seeing strong resistance at 96% level where we expect to see a drop from.

 

[meeru]

AUDUSD remain bearish below major resistance

AUDUSD
Jan. 18, 2017, 04:16
Sell below 0.7580. Stop loss at 0.7644. Take profit at 0.7447.
Reason for the trading strategy (technically):
We remain bearish below major resistance at 0.7580 (Fibonacci retracement, Fibonacci projection, horizontal overlap resistance) and we expect a strong drop from this level to at least 0.7447 support (Fibonacci retracement, swing low support).
Stochastic (21,5,3) remain at 92% resistance where we expect a drop from.
Reason for the trading strategy (fundamentally):
The major news item today moving USD is the U.S. Consumer Price Index (CPI) which assesses changes in the cost of living by measuring changes consumer pay for a set of items and is the headline figure for inflation. Inflation is generally bad news for the economy, causing instability, uncertainty and hardship. If there is high inflation, the Fed may increase interest rates which would cause the USD to rise. We are expecting a higher CPI reading of 2.1% today meaning a stronger USD which goes in line with our bearish AUDUSD trade.

 

[meeru]

Exness Group News


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[meeru]

USDJPY approaching strong resistance, prepare to sell

USDJPY
Jan. 19, 2017, 04:53
Sell below 114.65. Stop loss at 115.53. Take profit at 113.60.
Reason for the trading strategy (technically):
Price is approaching long term descending resistance and we expect to see a reversal below this level at 114.81 (Fibonacci retracement, Fibonacci projection) for a push down to 113.60 support (Fibonacci retracement, horizontal overlap support).
Stochastic (21,5,3) is seeing strong resistance at 96% level where we expect to see a drop from.

 

[meeru]

USDJPY remain bearish looking to sell on strength

USDJPY
Jan. 26, 2017, 02:46
Sell below 114.37. Stop loss at 115.36. Take profit at 112.54.
Reason for the trading strategy (technically):
We remain bearish below 114.37 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a drop to at least 112.54 support (Fibonacci projection, horizontal support).
Stochastic (55,5,3) is seeing strong resistance below the 96% level which it is approaching.
Reason for the trading strategy (fundamentally):
The major news item affecting USD today is the U.S. Advance Goods Trade Balance. A trade deficit is bad news for the dollar, as it means foreign goods are in demand. Those goods are ultimately purchased with foreign currency which creates a higher demand for foreign currency. A trade surplus, on the other hand, means that foreign consumers are buying more American goods. This results in demand for the dollar. We are expecting a smaller deficit from -$65.30b to -$64.50b which means a stronger USD. This goes against our bearish USDJPY view today so it is best to exercise caution on this trade.

 

[meeru]

AUDUSD remain bearish below major resistance

AUDUSD
Jan. 26, 2017, 02:45
Sell below 0.7580. Stop loss at 0.7644. Take profit at 0.7447.
Reason for the trading strategy (technically):
We remain bearish below major resistance at 0.7580 (Fibonacci retracement, Fibonacci projection, horizontal overlap resistance) and we expect a strong continued drop from this level to at least 0.7447 support (Fibonacci retracement, swing low support).
Stochastic (21,5,3) remain at 92% resistance and sees bearish divergence vs price signalling a reversal is fast approaching.
Reason for the trading strategy (fundamentally):
The major news item affecting USD today is the U.S. Advance Goods Trade Balance. A trade deficit is bad news for the dollar, as it means foreign goods are in demand. Those goods are ultimately purchased with foreign currency which creates a higher demand for foreign currency. A trade surplus, on the other hand, means that foreign consumers are buying more American goods. This results in demand for the dollar. We are expecting a smaller deficit from -$65.30b to -$64.50b which means a stronger USD. This goes in line with our bearish AUDUSD trade.

 

[meeru]

USDCHF approaching profit target, remain bearish

USDCHF
Jan. 26, 2017, 02:43
Sell below 1.0026. Stop loss at 1.0096. Take profit at 0.9926.
Reason for the trading strategy (technically):
Price continues to creep lower as expected. We remain bearish below 1.0026 resistance (swing high resistance, descending resistance, Fibonacci projection, Fibonacci retracement) for a further push down to 0.9926 support (Fibonacci projection).
Stochastic (21,5,3) is seeing strong resistance below the 91% level and still has good downside potential.
Reason for the trading strategy (fundamentally):
The major news item affecting USD today is the U.S. Advance Goods Trade Balance. A trade deficit is bad news for the dollar, as it means foreign goods are in demand. Those goods are ultimately purchased with foreign currency which creates a higher demand for foreign currency. A trade surplus, on the other hand, means that foreign consumers are buying more American goods. This results in demand for the dollar. We are expecting a smaller deficit from -$65.30b to -$64.50b which means a stronger USD. This goes against our bearish USDJPY view today so it is best to exercise caution on this trade.