Exness Technical Daily

[meeru]

NZDUSD testing major resistance, remain bearish

NZDUSD
March 28, 2017, 07:27
Sell below 0.7071. Stop loss at 0.7113. Take profit at 0.6968.

Reason for the trading strategy (technically):

We remain bearish below 0.7065 resistance (Fibonacci retracement, Fibonacci extension) where we expect a drop to at least 0.6968 support (Fibonacci retracement, recent swing low support).

Stochastic (21,5,3) sees major resistance at 95% where we expect a similar and corresponding drop in price from.

Reason for the trading strategy (fundamentally):

The main news event driving the USD today is the U. of Michigan Confidence. It assesses consumer confidence regarding personal finances, business conditions and purchasing power based on hundreds of telephone surveys. A low or falling University of Michigan Sentiment value is considered an early indicator of an economic downturn. We’re expecting a lower value which means a weaker USD, which goes against our bearish NZDUSD view, hence it is best to exercise caution on this

 

[meeru]

AUDUSD on major support, time to buy

AUDUSD
March 28, 2017, 07:25
Buy above 0.7619. Stop loss at 0.7583. Take profit at 0.7684.

Reason for the trading strategy (technically):

We remain bullish looking to buy above 0.7619 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to 0.7684 resistance (Fibonacci retracement, recent swing high resistance). Stop loss is at 0.7583 (Fibonacci retracement, horizontal pullback resistance) in case price drops further.

Stochastic (55,5,3) is seeing strong support above the 3.8% where it has started to bounce from and also displays bullish divergence signalling a bounce is impending.

Reason for the trading strategy (fundamentally):

The main news event driving the USD today is the U. of Michigan Confidence. It assesses consumer confidence regarding personal finances, business conditions and purchasing power based on hundreds of telephone surveys. A low or falling University of Michigan Sentiment value is considered an early indicator of an economic downturn. We’re expecting a lower value which means a weaker USD, which goes in line with our bullish AUDUSD view.

 

[meeru]

AUDJPY above major support, prepare to buy

AUDJPY
March 28, 2017, 07:23
Buy above 83.77. Stop loss at 82.73. Take profit at 85.22.

Reason for the trading strategy (technically):

Price is right above major support at 83.77 (Fibonacci retracement, horizontal swing low support) where we expect a bounce from to at least 85.22 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (21,5,3) is seeing strong support above the 7% level and also displays bullish divergence vs price.

 

[meeru]

EURUSD turn bullish looking to buy on dips

EURUSD
March 28, 2017, 07:21
Buy above 1.0818. Stop loss at 1.0755. Take profit at 1.0904.

Reason for the trading strategy (technically):

We change our view and look to buy on dips above 1.0818 support (Fibonacci retracement, horizontal pullback support, price gap, ascending support line) for a push up once again to 1.0904 resistance (swing high resistance, Fibonacci extension).

RSI (34) sees long term ascending support holding it up similarly to price.

Reason for the trading strategy (fundamentally):

The main news event driving the USD today is the U. of Michigan Confidence. It assesses consumer confidence regarding personal finances, business conditions and purchasing power based on hundreds of telephone surveys. A low or falling University of Michigan Sentiment value is considered an early indicator of an economic downturn. We’re expecting a lower value which means a weaker USD, which goes in line with our bullish EURUSD view.

 

[meeru]

EURJPY bouncing up perfectly, inverse head and shoulders in action

EURJPY
March 28, 2017, 07:19
Buy above 120.25. Stop loss at 119.83. Take profit at 121.17.

Reason for the trading strategy (technically):

Price has bounced up nicely from our buying area. We now look to buy on the pullback to the inverse head and shoulders neckline at 120.25 for a further push up to 121.17 resistance (Inverse head and shoulders potential, Fibonacci retracement).

Stochastic (34,5,3) holds above the 62% support which corresponds with our neckline support in price.

 

[meeru]

USDJPY testing major resistance, prepare to sell

USDJPY
March 28, 2017, 07:15
Sell below 110.76. Stop loss at 111.64. Take profit at 109.09.

Reason for the trading strategy (technically):

Price is testing major resistance at 110.76 (multiple descending resistance, horizontal pullback resistance, Fibonacci retracement) where we expect a reaction from to see a drop to at least 109.09 support (long term Fibonacci retracement).

RSI (55,5,3) is seeing pullback resistance below the 48% level.

Reason for the trading strategy (fundamentally):

The main news event driving the USD today is the U. of Michigan Confidence. It assesses consumer confidence regarding personal finances, business conditions and purchasing power based on hundreds of telephone surveys. A low or falling University of Michigan Sentiment value is considered an early indicator of an economic downturn. We’re expecting a lower value which means a weaker USD, which goes in line with our bearish USDJPY view.

 

[meeru]

XAUUSD forming a strong bearish reversal, time to sell

XAUUSD
April 10, 2017, 03:37
Sell below 1261.74. Stop loss at 1273.10. Take profit at 1241.14.

Reason for the trading strategy (technically):

Price is now testing major resistance at 1261.74 (Fibonacci extension, horizontal resistance, bearish divergence) and we expect to see a reversal below this level to 1241.14 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance below the 97% and also sees bearish divergence vs price signalling that a strong reversal is impending.

 

[meeru]

NZDUSD still on major support, remain bullish

NZDUSD
April 10, 2017, 03:35
Buy above 0.6949. Stop loss at 0.6884. Take profit at 0.7092.

Reason for the trading strategy (technically):

Price is testing major support at 0.6949 (Fibonacci retracement, horizontal overlap support, bullish divergence) and we remain bullish above this level for a push up towards 0.7092 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,5,3) is seeing strong support above 6.69% and also displays bullish divergence vs price signalling that a bounce is impending.

 

[meeru]

AUDUSD on major support, time to buy

AUDUSD
April 10, 2017, 03:32
Buy above 0.7492. Stop loss at 0.7453. Take profit at 0.7561.

Reason for the trading strategy (technically):

Price is now testing major support at 0.7492 (Fibonacci retracement, horizontal swing low support, bullish divergence) and we expect to see a bounce above this level to 0.7561 resistance (Fibonacci retracement, horizontal overlap resistance).

RSI (34) seeing major support above 34% and also displays bullish divergence vs price signalling that a bounce is impending.

 

[meeru]

GBPUSD profit target reached perfectly, prepare to buy

GBPUSD
April 10, 2017, 03:30
Buy above 1.2366. Stop loss at 1.2302. Take profit at 1.2448.

Reason for the trading strategy (technically):

Price has dropped perfectly and reached our profit target from previously. We now turn bullish above 1.2366 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a push up to 1.2448 resistance (Fibonacci retracement, horizontal pullback resistance).

RSI (34) is seeing strong support at 39% where our previous major bounce occurred.