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EUR/USD pressured by ZEW

German ZEW Economic Sentiment index disappointed the markets, unexpectedly falling from 43.2 to 33.1. According to the survey, German economy will not be able to maintain the fast pace of growth. Euro zone ZEW Economic Sentiment index dropped from 61.2 to 55.2.

EUR/USD initially fell to $1.3740 on the news. However, the selling impulse was not strong enough as euro failed to break the Friday’s low of $1.3745. The 100-day MA is acting as a support for now.

From a broader view, the pair is now testing the lower border of the 2013-2014 rising channel to the downside.

According to analysts at Scotiabank, key support lies at the psychological $1.3700 mark, while resistance lies at the 50-day MA at $1.3825.

http://fxbazooka.com/en/analitycs/show/1489

 

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Technical factors:

The single currency breached support of the 55-, 100- day MAs and that of the daily Ichimoku Cloud, as well as the trend line connecting July 2013, February and April 2014 lows. As for support, there’s $1.3620 (200-day MA) and $1.3580 (100-month MA). Resistance is at $1.3725/40 and $1.3800/15.

Conclusion: It seems that euro on its part lacks positive news. The only support may come from the US. The declining US Treasury yields may create such support for EUR/USD – as long as they decline faster than the European yields. US yields may fall even lower in case of weaker US data. EUR/USD is vulnerable for decline to $1.3600 and even $1.3500 (38.2% Fibo). One may also consider EUR/GBP shorts.

 

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EUR/GBP: a long-term "sell"

By Kira Iukhtenko

EUR/GBP keeps on consolidating in the short-term 0.8180/25 channel. From a bigger-picture standpoint we see that the cross trades in a bearish channel since last summer and is now testing the January-February 2014 lows to the downside.

In my view, EUR/GBP is a perfect long-term “sell” position. Divergence in the monetary policies of the ECB and the BoE give an advantage to the UK currency. What’s more, the pair is trading in a long-term bearish channel since 2009 and needs a break below 0.8060 (2010 low) to open the road to 0.7500 or even lower.

http://fxbazooka.com/en/analitycs/show/1510

 

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Gold fell to 15-week low

XAU/USD fell by about 270 pips yesterday sliding to $1,260.8 (61.8% Fibo of the advance from December to March). On the weekly chart the metal price recoiled down from the heavy bearish Ichimoku Cloud. Gold has breached the symmetric triangle formation and theoretically target now lies lower, in the $1,230 area (76.4% Fibo).

XAU/USD is surely oversold now. Resistance is at the previous support: $1,269, $1,278 and 1,285.8. Support is at $1,250.

Gold fell to the lowest level in more than 15 weeks as US economic data that beat estimates backed the case for the Fed to keep on reducing monetary stimulus, while demand in China showed signs of waning.

 

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T.Norkina: trading USD/JPY (03/06)

Tatyana Norkina, FBS analyst

The US dollar strengthened versus the Japanese yen yesterday, recovering into the 102.50 resistance area.

Ichimoku. This level was formed on the H4 chart, what is confirming the importance of the signal. Bulls will take many attempts to overcome the resistance, but the overheated market conditions will hinder the immediate move to the upside. In the near term we expect a consolidation in the 102.17-102.50 area or a deeper corretion to the 101.95 support. Positive Ichimoku signals can play a defining role in the medium term market sentiment.

Technical levels: support – 102.17, 101.95; resistance – 102.50.

Trade recommendation:

1. Buy — 102.17; SL — 101.90; TP1 — 102.50.

2. Buy — 101.95; SL — 101.80; TP1 — 102.50.

 

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EUR JPY

Hari ini Open di 139.70

Selepas yen open market telah turun ke 139.34

jika euro open tidak dapat breakout open and high semalam market akan terus mencari support di 138.77

dan seterusnya 138.00

 

[Syazfirul Enterprise]

GBP USD

Open price 1.6753

Resistant : 1.6777

Support : 1.6700

Harga GU di jangka jika masih berada di bawah 1.6777 akan mencari 1.6700 untuk hari ini

dan jika breakout 1.6700 akan mecari 1.6577 untuk minggu ini

 

[Syazfirul Enterprise]

16 June 2014, 06:58 Comments: 0
EUR/USD: placing sell orders (June 16)

By Felipe Erazo

On the H1 chart, the EUR/USD made ​​a retracement to the 61.8 Fibo Level, so this pair had a significant drop from that level to the support level of $1.3533, which coincides with the 23.6 Fibo Level. Now, it is very likely that EUR/USD will make a breakout at that support level, because this pair has not found a clear bottom for current bearish trend.

If the pair manages to make a breakout at that level, it would be expected to fall to the support level of 1.3512 and the bearish trend could continue dominating in the current road of the EUR/USD. However, if the EUR/USD manages to make a breakout in the 38.2 Fibo Level ($1.3546), it’s expected to rise to the level of $1.3556 (50.0 Fibo Level). An important point to note is that the 50.0 Fibo Level matches a bearish trend line, which could cause strong resistance on EURUSD.

Trading recommendations: Place sell orders if the EUR/USD makes a pullback at the 50.0 Fibo Level ($1.3556), with take profit at $1.3533 (23.6 Fibo Level). Alternatively, if this pair makes a breakout at the support level of $1.3533, place sell orders with take profit at $1.3512 (Fibonacci retracement’s starting level).

 

[Syazfirul Enterprise]

EURJPY

Ressistant 138.330 dan 138.770

Jika harga masih berada di bawah resistant ini market akan terus mencari support di bawah :

Supoort 1:1.3770
Support 2:1.3700