Exness Technical Daily

[meeru]

EURJPY bounced perfectly and reached our profit target, time to turn bearish

EURJPY
Feb. 1, 2017, 03:01
Sell below 122.21. Stop loss at 122.68. Take profit at 121.11.

Reason for the trading strategy (technically):

Price bounced perfectly above our buying level and reached our profit target. We now turn bearish below strong resistance at 122.21 (Fibonacci retracement, horizontal overlap resistance) for a drop to at least 121.11 support (Fibonacci retracement, Fibonacci projection, horizontal support).

Stochastic (21,5,3) is approaching 92% resistance where we expect a reaction from.

 

[meeru]

EURUSD bearish below major resistance

EURUSD
Feb. 1, 2017, 02:59
Sell below 1.0800. Stop loss at 1.0880. Take profit at 1.0708.

Reason for the trading strategy (technically):

Price is now testing major resistance at 1.0800 (major horizontal resistance, Fibonacci projection) and we expect to see a reaction off this level for a drop to 1.0708 support (Fibonacci retracement, horizontal pullback support).

Stochastic (21,5,3) is seeing a reaction off our 93% level of resistance.

RSI (34) is also seeing a reaction off our 65% level of 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 EURUSD strategy view.

 

[meeru]

Exness Group reaches record-breaking monthly trading volume of US$266 billion

It is with great pride and excitement that we share our latest news with our valued clients and partners worldwide! With the conclusion of January, the Exness Group recorded a total monthly trading volume of US$266 billion, a figure marking our highest trading volume yet!
This is an important milestone in the Group’s growth as it signals a historical landmark and the conquering of new grounds. A broker’s trading volume is one of the strongest indicators not only of its clientele’s size but also of the fact that this clientele is active. Our record-breaking figure of US$266 billion places us among the top retail forex brokers worldwide in terms of trading volume and is strong testimony that we are truly a market leader.
As always, we will be conducting our quarterly audit at the end of Q1, whereby an independent assurance report compiled by Deloitte will confirm the above and be published on our website. As a market leader, our commitment to uphold transparency standards is stronger than ever, as is our endless drive to reach new heights.

 

[meeru]

AUDUSD above major support, remain bullish

AUDUSD
Feb. 15, 2017, 09:43
Buy above 0.7659. Stop loss at 0.7604. Take profit at 0.7780.
Reason for the trading strategy (technically):
Price is testing major support at 0.7659 (Fibonacci retracement, horizontal overlap support, pullback support, ascending support) where we expect a further push up to 0.7780 resistance (swing high resistance, Fibonacci projection).
RSI (34) is seeing ascending support holding price up really nicely.
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 significant drop from 0.6% to 0.1% here meaning less consumer spending and confidence, leading to weakness in the USD. This would go in line with our bullish AUDUSD view we have today.

 

[meeru]

GBPUSD dropping perfectly, remain bearish

GBPUSD
Feb. 15, 2017, 09:41
Sell below 1.2546. Stop loss at 1.2632. Take profit at 1.2356.
Reason for the trading strategy (technically):
Price has reacted off our selling area perfectly yesterday. We remain bearish below 1.2546 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to 1.2356 support (Fibonacci retracement, Fibonacci projection, swing low support) especially with price making a bearish exit.
RSI (34) sees a descending resistance line holding price down really well.
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 significant drop from 0.6% to 0.1% here meaning less consumer spending and confidence, leading to weakness in the USD. This would go against our bearish GBPUSD view today, hence it is best to exercise caution with this trade.

 

[meeru]

USDCHF testing major resistance, remain bearish

USDCHF
Feb. 15, 2017, 09:38
Sell below 1.0036. Stop loss at 1.0097. Take profit at 0.9935.
Reason for the trading strategy (technically):
We remain bearish below 1.0036 resistance (Fibonacci retracement, swing high resistance) for a push down to 0.9935 (Fibonacci retracement, swing low support).
RSI (34) is seeing resistance below the 66% level and now displays bearish divergence vs price, signalling a reversal is impending.
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 significant drop from 0.6% to 0.1% here meaning less consumer spending and confidence, leading to weakness in the USD. This would go in line with our bearish USDCHF view we have today.

 

[meeru]

USDJPY sell on strength for an intermediate drop

USDJPY
Feb. 15, 2017, 09:36
Sell below 114.56. Stop loss at 114.95. Take profit at 113.22.
Reason for the trading strategy (technically):
We look to sell at 114.56 resistance (Fibonacci retracement, Fibonacci projection) for a push down to 113.22 support (Fibonacci retracement, horizontal support).
Stochastic (21,5,3) is seeing major resistance below the 94% level.
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 significant drop from 0.6% to 0.1% here meaning less consumer spending and confidence, leading to weakness in the USD. This would go in line with our bearish USDJPY view we have today.

 

[meeru]

EURJPY remain bearish at major resistance

EURJPY
Feb. 15, 2017, 09:11
Sell below 121.09. Stop loss at 121.86. Take profit at 119.65.
Reason for the trading strategy (technically):
We remain bearish below 121.09 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to 119.65 support (Fibonacci extension, horizontal support, recent swing low support).
Stochastic (34,5,3) has reacted off our 92% resistance level perfectly and continues to see resistance there.

 

[meeru]

EURUSD turn bearish for a push down

EURUSD
Feb. 15, 2017, 09:04
Sell below 1.0585. Stop loss at 1.0660. Take profit at 1.0450.
Reason for the trading strategy (technically):
Price remains under heavy downside pressure below 1.0585 resistance (pullback resistance, descending resistance) and we expect price to make a further push down to 1.0450 support (Fibonacci retracement, horizontal swing low support).
RSI (34) sees a descending resistance line holding price down.
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 significant drop from 0.6% to 0.1% here meaning less consumer spending and confidence, leading to weakness in the USD. This would go against our bearish EURUSD view today, hence it is best to exercise caution with this trade.

 

[meeru]

AUDUSD above major support, remain bullish

AUDUSD
Feb. 14, 2017, 05:04
Buy above 0.7659. Stop loss at 0.7604. Take profit at 0.7780.
Reason for the trading strategy (technically):
Price is testing major support at 0.7659 (Fibonacci retracement, horizontal overlap support, pullback support, ascending support) where we expect a further push up to 0.7780 resistance (swing high resistance, Fibonacci projection).
RSI (34) is seeing ascending support holding price up really nicely.