Daily Trade Of Major Pairs

EURO Buyers Still In Control Above 1.2050 (05-Jan-2018    at   01:37:31 pm)

The euro has moved to another new-weekly trading high against the U.S dollar, hitting 1.2089, on Thursday, as strong ADP jobs numbers helped risk-on sentiment in global markets. The EURUSD pair fell just short of the 2017 price-high, at 1.2093, creating a bearish double-top pattern on the price-charts. Price-action currently trades around the 1.2070 level, as buying momentum for euros remains strong. Financial markets now look to the U.S Non-farm payrolls job report, with economists expecting 190,000 new jobs were created during December.

GBPUSD Intraday Bullish Above 1.3567 Level (05-Jan-2018    at   01:36:32 pm)

The British pound has continued to erase losses against the U.S dollar, with price action reaching the 1.3570 level during today’s Asian trading session. The GBPUSD pair currently trades above the key 1.3567 resistance level, with the 1.3610 level the next major technical barrier ahead for buyers. Sterling’s rise from the 1.3500 support level has taken place on minimal trading volume, with genuine buying momentum in the pair still at depressed levels. The main market moving event today is this December Nonfarm Payrolls job report, volatility in the GBPUSD pair is likely to increase after the report is released.

USDCAD Turns More Bearish After Falling Out Of 2-Month Range (05-Jan-2018    at   12:38:29 pm)

USDCAD is looking weak after falling out of a 2-month range. Prices broke below key support at 1.2500 although appear to have stabilized for now just below this level. The daily RSI is in bearish territory but has turned neutral in the short term, very close to oversold levels.

Daily Wave Analysis: GBP/USD Bullish Channel Offers Key Breakout Levels (05-Jan-2018    at   12:30:19 pm)

The GBP/USD bullish trend is continuing higher in a bullish channel (blue) after a bearish retracement back to the round level of 1.35. Price could be moving towards the Fibonacci targets of waves 5, which seems to be part of a wave C (green) although the previous top could be a tough resistance point.

Elliott Wave View: Nasdaq Ending Impulsive Move (05-Jan-2018    at   11:57:34 am)

Short Term Nasdaq Elliott Wave view suggests that the rally from 12/5 low unfolded as a double three Elliott Wave structure where Minor wave W ended at 6545.75 and Minor wave X ended at 6383.25. This week, the Index made a new high above Minor wave W at 6545.75, suggesting the next leg higher has started. Internal of Minor wave W unfolded as a double three Elliott Wave structure where Minute wave ((w)) ended at 6427.75, Minute wave ((x)) ended at 6383, and Minute wave ((y)) of W ended at 6545.75.

Market Morning Briefing: The Pound Trades Higher (05-Jan-2018    at   08:42:47 am)

The Pound (1.3562) trades higher and may well rise past 1.36 as well. The Aussie (0.7852) seems to be breaking above the 200-week Moving Average mentioned yesterday and may rise further towards 0.80.