Exness Technical Daily

[meeru]

USDCHF bounced above our support as expected, remain bullish

USDCHF
Sept. 8, 2016, 03:24
Buy above 0.9675. Stop loss at 0.9645. Take profit at 0.9745

Reason for the trading strategy (technically):

Price dropped to our buying entry and bounced off perfectly as expected above major support at 0.9675 (Fibonacci retracement, Fibonacci projection) where we expect a bounce from to at least 0.9745.

RSI(21) has bounced off 21% support and has crossed the 35% previous resistance signalling a bullish recovery is in place.

 

[meeru]

USDJPY bounced as expected above our support, continue to buy

USDJPY
Sept. 8, 2016, 03:26
Buy above 101.20. Stop loss at 100.00. Take profit at 102.77

Reason for the trading strategy (technically):

Price bounced up as expected, we remain bullish looking to buy above support at 101.20 (Fibonacci retracement, horizontal support) for a further push up to 102.77

RSI (21) has bounced above 25% support signalling a bullish recovery is in place.

 

[meeru]

EURUSD reacted off our selling area perfectly, remain bearish

EURUSD
Sept. 8, 2016, 03:30
Sell below 1.1270. Stop loss at 1.1300. Take profit at 1.1190.

Reason for the trading strategy (technically):

We remain bearish below 1.1270 fractal resistance (horizontal pullback resistance, Fibonacci projection, Fibonacci retracement, Elliott Wave Structure) for a drop to 1.1190.

Stochastics (21,5,3) has reacted off 92% resistance perfectly as expected.

RSI (21) has crossed below 62% signalling a reversal is in progress.

Reason for the trading strategy (fundamentally):

The main news event today is the European Central Bank Interest Rate decision and President Draghi’s Press Conference. The interest rate has been remaining at 0% since April and we don’t see it dropping into Negative Interest Rate territory. With this in mind, we expect some market fluctuations as usual but ultimately for there to be little movement. This exemplifies our views across EUR currencies where price is on major levels awaiting further confirmation of any hawkish/dovish signals from Draghi.

 

[meeru]

EURCHF bouncing above support, continue to buy

Cross rate
Sept. 8, 2016, 03:31
Buy above 1.0900. Stop loss at 1.0875. Take profit at 1.0975.

Reason for the trading strategy (technically):

Price is right on major support once at 1.0900 (Fibonacci retracement, horizontal overlap support) and we look to buy above this level for small bounce to 1.0975.

Stochastics (21,5,3) is bouncing above 13% support. RSI (21) is bouncing above previous support at 36%.

Reason for the trading strategy (fundamentally):

The main news event today is the European Central Bank Interest Rate decision and President Draghi’s Press Conference. The interest rate has been remaining at 0% since April and we don’t see it dropping into Negative Interest Rate territory. With this in mind, we expect some market fluctuations as usual but ultimately for there to be little movement. This exemplifies our views across EUR currencies where price is on major levels awaiting further confirmation of any hawkish/dovish signals from Draghi.

 

[meeru]

Getting FCA license and expanding activities in Europe

Exness Group companies, one of the leading forex brokers in the foreign exchange market, is pleased to announce that the British division Exness Europe Limited had received a certificate of compliance Financial Conduct Authority (FCA) with registration number 730729.

Exness - International Broker, the primary customer base of which is in Asia, the Middle East and Africa. After obtaining a license FCA company plans to expand its international presence by launching active in Europe. "This is a very important milestone in the development of global business group Exness companies. We intend to adhere to the highest international standards to the fullest extent meet the interests of our customers ", - said David Morris , CEO Europe Limited is Exness . He added: "There is a growing control over the activities of the Forex market and CFD by regulatory authorities; Exness welcomes these measures, considering them as the basis for the success of honest forex companies and the prosperity of the industry as a whole. "

It is planned that Exness Europe Limited will begin operations by the end of 2016, covering an existing customer base, as well as new regions, enabling European customers to enjoy all the benefits of brand services. Along with plans to work with private clients Exness Europe Limited is exploring the possibility of interaction with the business environment and plans to work closely with other companies in the industry, offering its own technology and systems.

In addition to the FCA Exness company has obtained a license European license by CySEC , which means compliance with the standards of the Directive of the European Markets in Financial Instruments (MiFID). In addition, a group of companies Exness regularly publishes financial results, certified by independent auditors .

About company

Exness Group of Companies was founded like-minded professionals in the areas of finance and information technology in 2008. This is a modern forex company that deeply understands the needs of traders and provide affordable and quality services. According to the auditing company Deloitte, in 2015 the total trading volume of the group of companies exceeded $ 2.3 trillion, and in June 2015 was recorded record for monthly trading volume - 232 billion US dollars.

 

[meeru]

EURAUD inverse head and shoulders triggered, buy on weakness

EURAUD
Sept. 15, 2016, 04:00
Buy above 1.4900. Stop loss at 1.4775. Take profit at 1.5185.

Reason for the trading strategy (technically):

Price has completed an inverse head and shoulders reversal pattern. We look to buy on major support at 1.4900 (neckline support, Fibonacci retracement, horizontal support) for a push up to 1.5185.

 

[meeru]

AUDNZD bounced off support, look to buy again

Cross rate
Sept. 15, 2016, 04:00
Buy above 1.0265. Stop loss at 1.040. Take profit at 1.0320.

Reason for the trading strategy (technically):

We look to buy on weakness above 1.0265 support (Fibonacci retracement, horizontal pullback support) for a push up to 1.0320.

Stochastics (21,3,3) is bouncing off support signalling a recovery is in progress.

 

[meeru]

EURJPY close to support, look for buying opportunities

EURJPY
Sept. 15, 2016, 04:00
Buy above 114.75 Stop loss at 114.40. Take profit at 115.90.

Reason for the trading strategy (technically):

Price is close to our 114.75 support level (overlap support, Fibonacci retracement) where we expect a bounce from for price to rise to at least 115.90.

Stochastics (21,3,3) is approaching strong support at 11%.

RSI (21) is also approaching ascending support which signals a bounce is approaching.

 

[meeru]

USDJPY profit target almost reached, turn bullish



USDJPY
Sept. 15, 2016, 04:00
Buy above 103.05. Stop loss at 101.35. Take profit at 103.20.

Reason for the trading strategy (technically):

Price dropped from our selling area perfectly as expected. It is now on its way towards our initial profit target. We change our view to buy above 102.20 support (overlap support, Fibonacci retracement, Fibonacci projection) for a push up to 103.20.

Stochastics (21,3,3) is approaching ascending support signalling a bounce is approaching.

RSI (21) is approaching ascending support similarly signalling a bounce is approaching.

Reason for the trading strategy (fundamentally):

The main news event driving USD today is the U.S. Advance Retail Sales which is a monthly measure of sales of goods to consumers at retail outlets. The figure is a significant market mover, valuable both for its timeliness and insight into consumer demand and consumer confidence. We’re expecting a positive value here meaning more consumer spending and confidence, leading to strength in the USD. This would go in line with our bullish USDJPY view we have today.

 

[meeru]

NZDUSD profit target reached, time to start selling

NZDUSD
Sept. 15, 2016, 04:00
Sell below 0.7310. Stop loss at 0.7370. Take profit at 0.7190.

Reason for the trading strategy (technically):

Price reached our profit target perfectly yesterday. We turn bearish looking to sell below major resistance at 0.7310 (Fibonacci retracement, Fibonacci projection, pullback resistance) for a drop to 0.7190.

RSI (21) is holding below our 56% resistance which is keeping our bearish view.

Reason for the trading strategy (fundamentally):

The main news event driving USD today is the U.S. Advance Retail Sales which is a monthly measure of sales of goods to consumers at retail outlets. The figure is a significant market mover, valuable both for its timeliness and insight into consumer demand and consumer confidence. We’re expecting a positive value here meaning more consumer spending and confidence, leading to strength in the USD. This would go in line with our bearish NZDUSD view we have today.