Daily Safe Trade Alerts About Major Pairs

Elliott Wave View: DAX Still In Wave (v) (10-Jan-2018    at   10:06:30 am)

DAX Short Term Elliott Wave view suggests that pullback to 12731.46 ended Intermediate wave (X). Up from there, rally is unfolding as a 5 waves impulsive Elliott Wave structure where Minutte wave (i) ended at 12943, Minutte wave (ii) ended at 12881.5, Minutte wave (iii) ended at 13408.5, and Minutte wave (iv) is proposed complete at 13328.5. Short term, while above 13228.5, Index has scope to extend another leg higher in Minutte wave (v) before ending 5 waves up from 1/2 low (12731.46).

Market Morning Briefing: The Pound Is Marking Time Just Above Immediate Support At 1.3500 (10-Jan-2018    at   09:19:38 am)

The Pound (1.3533) is marking time just above immediate Support at 1.3500 and may continue to trade sideways for a few more days within the overall uptrend that has Support in the 1.34-33 region.

EUR/JPY Extends Fall From Highs As Euro Stumbles, Yen Surges (10-Jan-2018    at   08:11:04 am)

Amid the euro’s pullback this week from long-term highs against both the US dollar and Japanese yen, the Bank of Japan reduced its purchases of Japanese government bonds on Tuesday, leading to some knee-jerk speculation that the central bank could wind down its massive stimulus program at some point in the foreseeable future. In turn, this speculation provided a sharp boost for the Japanese yen, despite the BoJ’s frequent insistence in the past that it would not be ending its stimulus purchases any time soon.

EUR/CAD Could Be In For A Sizable Move As It Tests Key Level (10-Jan-2018    at   08:08:53 am)

The EUR/CAD is an interesting FX pair to watch as it is currently testing a key technical area in the 100-pip range between 1.4735 and 1.4835. Why is this area so significant? Firstly because it was the last noticeable low prior to the rally in early December, which ultimately failed to sustain itself. Thus, if the buyers lose control of this zone then this would only boost the bears’ control. In addition, we have a number of other technical indicators which also converge in this zone, too. These include a bullish trend line, the 200-day moving average and the 38.2% Fibonacci retracement level of last year’s range.

Has EUR/USD Reached A Turning Point? (10-Jan-2018    at   08:01:30 am)

EUR/USD spent much of last year in a sharp incline as optimism over European economies boosted the euro while the US dollar struggled mightily but lost substantial ground against its major counterparts. The beginning of the New Year initially saw a continuation of this strong EUR/USD bullish trend. Late last week, however, the currency pair reached major resistance just short of the 1.2100 level, re-testing September’s multi-year highs to form a potential double-topping pattern, and then turned back to the downside this week as the oversold US dollar regained some lost ground.

Aussie Trading A Tad Higher In The Asian Session (10-Jan-2018    at   11:24:18 am)

The pair is expected to find support at 0.7800, and a fall through could take it to the next support level of 0.7776. The pair is expected to find its first resistance at 0.7857, and a rise through could take it to the next resistance level of 0.7890.

Euro-Zone's Unemployment Rate Fell To Its Lowest Level Since January 2009 In November (10-Jan-2018    at   11:23:13 am)

The pair is expected to find support at 1.1914, and a fall through could take it to the next support level of 1.1885. The pair is expected to find its first resistance at 1.1973, and a rise through could take it to the next resistance level of 1.2003.

Pound Trading Marginally Lower, Ahead Of Key Economic Releases In The UK (10-Jan-2018    at   11:22:11 am)

The pair is expected to find support at 1.3499, and a fall through could take it to the next support level of 1.3465. The pair is expected to find its first resistance at 1.3575, and a rise through could take it to the next resistance level of 1.3617.

Japanese Yen Extends Its Gains In The Morning Session (10-Jan-2018    at   11:21:03 am)

The pair is expected to find support at 111.96, and a fall through could take it to the next support level of 111.67. The pair is expected to find its first resistance at 112.76, and a rise through could take it to the next resistance level of 113.27.

Swiss Unemployment Rate Fell As Expected In December (10-Jan-2018    at   11:20:05 am)

The pair is expected to find support at 0.9785, and a fall through could take it to the next support level of 0.9737. The pair is expected to find its first resistance at 0.9862, and a rise through could take it to the next resistance level of 0.9891.

Canada's Housing Starts Declined In December (10-Jan-2018    at   11:19:18 am)

The pair is expected to find support at 1.2414, and a fall through could take it to the next support level of 1.2366. The pair is expected to find its first resistance at 1.2494, and a rise through could take it to the next resistance level of 1.2526.

Can GBP/USD Hold 1.3480 Ahead Of UK's Production Report? (10-Jan-2018    at   10:50:40 am)

The British Pound traded higher during the start of January 2018 against the US Dollar. The GBP/USD pair traded as high as 1.3612 before starting a downside correction. During the mentioned correction, the pair broke the 1.3600 and 1.3550 support levels. The pair even settled below the 23.6% Fib retracement level of the last wave from the 1.3347 low to 1.3612 high.

China And Japan Stir The Pot (10-Jan-2018    at   07:55:08 am)

Unexpected moves from the Chinese and Japanese central banks threaten to shake-up the complacency in markets. The yen was the top performer Tuesday while the Swiss franc lagged. Chinese CPI is due up next. The Premium Insights locked in 145-pip gain in the EURUSD short with a detailed explanation on the next move in the pair.

Shifting Narratives (10-Jan-2018    at   07:53:38 am)

Events in China and Japan have played a significant role in shaping currency markets bias over the last 24 hours and to a degree crystallising the broader-based dollar correction that started in earnest after the markets dismissed the weaker US Non-Farm Payroll number last Friday.

Gold Slides Despite Soft US Jobs Report (10-Jan-2018    at   07:52:34 am)

Gold has posted considerable losses in the Tuesday session. In North American trade, the spot price for an ounce of gold is $1310.88, down 0.72% on the day. On the release front, JOLTS Jobs Openings was unexpectedly soft, dropping to 5.88 million. This was well short of the estimate of 6.05 million. On Wednesday, the key event of the day is Import Prices.

Pound Dips Despite Soft US Jobs Report (10-Jan-2018    at   07:51:36 am)

The British pound has posted losses in the Tuesday session. In North American trade, GBP/USD is trading at 1.3523, down 0.33% on the day. In economic news, there are no major British releases on the schedule. In the US, JOLTS Jobs Openings was unexpectedly soft, dropping to 5.88 million. This was well short of the estimate of 6.05 million. On Wednesday, the UK publishes Manufacturing Production, and the US releases Import Prices.