Exness Technical Daily

[meeru]

AUDJPY profit target reached, time to turn bearish

AUDJPY
Feb. 28, 2017, 05:58
Sell below 86.68. Stop loss at 87.10. Take profit at 85.90.

Reason for the trading strategy (technically):

Price made a bounce and reached our profit target perfectly yesterday. We now prepare to turn bearish below 86.68 resistance (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) for a further drop to 85.90 support (Fibonacci retracement, horizontal overlap support).

RSI (34) is seeing descending resistance hold price down.

 

[meeru]

NZDUSD approaching support, prepare to buy

NZDUSD
Feb. 28, 2017, 05:56
Buy above 0.7176. Stop loss at 0.7137. Take profit at 0.7240.

Reason for the trading strategy (technically):

We prepare to turn bullish above 0.7176 support (Fibonacci retracement, horizontal overlap support) for a push up to 0.7240 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (21,5,3) is seeing strong support at the 10% level where we expect a bounce in price from.

Reason for the trading strategy (fundamentally):

The major news item today affecting USD is the Gross Domestic Product (GBP) which measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy's health. If the actual release is better than the forecast, that means it is good for the currency and we can expect USD to strengthen. However, if the actual release is less than the forecast, that means it is bad for USD and we can expect USD to weaken. Our current forecast is for a rise from 1.9% to 2.1% which means we could expect a stronger USD, this goes against our bullish NZDUSD view, hence, it is best to exercise caution on this trade.

The other major 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 higher value which means a stronger USD, which goes against our bullish NZDUSD trade today too.

 

[meeru]

EURUSD testing major resistance, remain bearish

EURUSD
Feb. 28, 2017, 05:53
Sell below 1.0604. Stop loss at 1.0638. Take profit at 1.0494.

Reason for the trading strategy (technically):

We remain bearish below 1.0604 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a further push down to 1.0494 (Fibonacci extension, horizontal support).

RSI (34) is seeing strong descending resistance pushing price down.

Stochastic (55,5,3) is also seeing strong resistance below our 93% level that is pushing price down and displays bearish divergence vs price which is a good precursor of price making a good reversal from here.

Reason for the trading strategy (fundamentally):

The major news item today affecting USD is the Gross Domestic Product (GBP) which measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy's health. If the actual release is better than the forecast, that means it is good for the currency and we can expect USD to strengthen. However, if the actual release is less than the forecast, that means it is bad for USD and we can expect USD to weaken. Our current forecast is for a rise from 1.9% to 2.1% which means we could expect a weaker USD, which goes in line with our bearish EURUSD view.

The other major 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 higher value which means a stronger USD, which goes in line with our bearish EURUSD trade today too.

 

[meeru]

EURJPY bounced perfectly, remain bullish

EURJPY
Feb. 28, 2017, 05:51
Buy above 119.05. Stop loss at 118.19. Take profit at 120.23.

Reason for the trading strategy (technically):

Price bounced absolutely perfectly above our buying level. We now remain bullish with price making a further bullish exit of its descending resistance-turned-support line. The goal is to buy above 119.05 support (Fibonacci retracement, pullback support) for a further push up to 120.23 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (55,5,3) has made a bullish exit signalling a further rise is expected.

 

[meeru]

USDCHF testing major resistance, remain bearish

USDCHF
Feb. 28, 2017, 05:43
Sell below 1.0090. Stop loss at 1.0118. Take profit at 1.0033.

Reason for the trading strategy (technically):

We remain bearish below 1.0090 resistance (Fibonacci retracement, horizontal pullback resistance) where we expect a reaction from for a drop to 1.0033 support (Fibonacci retracement, horizontal support).

Stochastic (21) is seeing strong resistance at the 94% level.

Reason for the trading strategy (fundamentally):

The major news item today affecting USD is the Gross Domestic Product (GBP) which measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy's health. If the actual release is better than the forecast, that means it is good for the currency and we can expect USD to strengthen. However, if the actual release is less than the forecast, that means it is bad for USD and we can expect USD to weaken. Our current forecast is for a rise from 1.9% to 2.1% which means we could expect a stronger USD, this goes against our bearish USDCHF view, hence, it is best to exercise caution on this trade.

The other major 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 higher value which means a stronger USD, which goes against our bearish USDCHF view today too.

 

[meeru]

AUDJPY profit target reached, time to turn bearish

AUDJPY
Feb. 28, 2017, 05:58
Sell below 86.68. Stop loss at 87.10. Take profit at 85.90.

Reason for the trading strategy (technically):

Price made a bounce and reached our profit target perfectly yesterday. We now prepare to turn bearish below 86.68 resistance (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) for a further drop to 85.90 support (Fibonacci retracement, horizontal overlap support).

RSI (34) is seeing descending resistance hold price down.

 

[meeru]

Exness extends endangered wildlife conservation partnership with WWF
FEB. 14, 2017
As a proactive supporter of nature conservation, Exness recently renewed its partnership with World Wildlife Fund Russia, pledging funds to the conservation and reintroduction of endangered species—the polar bears and Persian leopards.

"Endangered wildlife species is a pressing issue that calls for our attention. As strong supporters of environmental protection, we want to continue working with WWF-Russia in its long-term wildlife conservation projects and improve the environment we live in," said Petr Valov, CEO of Exness.

In 2017, Exness will support two WWF projects, namely the reintroduction of a stable population of Persian leopards in Caucasus, and the prevention of human-polar bear conflicts and mitigation of consequences brought about by such conflicts. The funds will facilitate the development of recovery programs, implementation of training programs, as well as the purchase of equipment and supplies that will see to successful reintroduction and protection of the endangered wildlife.

"We are happy to continue our cooperation with Exness. Through this cooperation, we can combine efforts in the field of conservation of endangered species," commented Yury Sochnev, Head of Communications and Marketing of WWF-Russia.
With a proactive attitude towards environmental issues, Exness has been a partner of WWF-Russia since 2014. For more details on the Exness-WWF cooperation, visit Exness Social Responsibility.

 

[meeru]

USDJPY profit target reached perfectly, time to buy for a short push up

USDJPY
March 13, 2017, 03:43
Buy above 114.70. Stop loss at 114.24. Take profit at 115.48.

Reason for the trading strategy (technically):

Price dropped perfectly from our selling area and reached our profit target. Today we play the intermediate bounce up from 114.70 support (Fibonacci retracement, horizontal overlap support) for a push up to 115.48 resistance (long term resistance, Fibonacci extension).

Stochastic (21,5,3) is approaching support at 7.4% where we expect a further bounce from.

 

[meeru]

EURJPY look to sell once more on resistance

EURJPY
March 13, 2017, 03:45
Sell below 122.95. Stop loss at 123.42. Take profit at 121.15.

Reason for the trading strategy (technically):

We look to sell once more at 122.95 resistance (Fibonacci extension, horizontal resistance) for a push down to 121.15 support (Fibonacci retracement, horizontal overlap support). We keep our stop loss tight at 123.42 which is above the most recent swing high resistance so we have a good risk to reward target for this trade.

Stochastic (21,5,3) is seeing major resistance at the 96% level.

 

[meeru]

EURUSD testing major resistance, remain bearish

EURUSD
March 13, 2017, 03:49
Sell below 1.0700. Stop loss at 1.0758. Take profit at 1.0630.

Reason for the trading strategy (technically):

Price is testing major resistance at 1.0700 (Fibonacci retracement, horizontal overlap resistance) where we expect a drop from to at least 1.0630 (Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) is also seeing major resistance below the 94% level.