FOREX Trend and Signal For USD/JPY Today

USD/JPY Today

Today, the pair USD/JPY traded with high volatility, the bulls once again show good interest in long positions. On the daily chart we can see a long side trend. As previously predicted, after the bears come close to the lower limit outset (101.40), the price once again groped support and slowed down, where the market in good time the bulls are back, showing the pulse movement chipped from the bottom edge. Development of the plot for the next trading days may be so - it's possible we will continue to watch the bull market interest fades with swing. The primary mark, where possible, the bulls will be under pressure bears it- 102.65, where the upper limit outset.

Today the economic calendar traders should expect a number of important economic news from the U.S. 16:30 MSK (14:30 GMT-2) in the U.S. was to publish an index of retail sales forecast is 0.6% Previous 0.7% value (monthly) 16:30 MSK (14 : 30GMT-2) in the U.S. was to publish the import price index forecast is 0.3% Previous 0.6% value (monthly) 16:30 MSK (14:30 GMT-2) in the U.S. was to publish data on retail sales forecast is 0, 4% of the previous value of 1.2% (monthly)

Key resistance levels Zone: 102.65; 103.70; 103.70 support area: 102.00; 101.40; 100.60 

Signals

Buying a pair is recommended at a price above 102.40 with the prospect of running to around 102.65.

Sale pair is recommended only after the bear interest, supposedly near the upper limit of 102.65 with the prospect of running to around 102.00.

EUR/USD Forecast For Today: 9th May 2014

Yesterday's landmark event- a comment from ECB President Draghi M. , in which he made ​​it clear that the likelihood of measures to support the economy, hit the single currency. All recent rise in the euro against the U.S. dollar based on expectations that the ECB will not dare to take drastic measures to support the economy, but yesterday M. Draghi hinted that the European Central Bank, assessing the situation in the economy, already at the June meeting may decide on incentives. What could they be? First- you can expect a reduction in key interest rates at the level of 0.25%, as well as the European version of the asset repurchase. These measures will have an unambiguous pressure on the single currency. At the same time, the continuation of yesterday's speech by Fed J. Yellen in the U.S. Congress has demonstrated a desire Fed due to the weakness of the situation in the construction sector does not give clear signals about the prospects start raising interest rates. Against this backdrop, the dollar fell against the Australian dollar only, but rose against major currencies, and it looks like the main reason for this was a backlash euro and expectations of further local reduction.

Forecast of the day:

The EUR/USD fell heavily after a sharp rise in the first words Draghi. Due to the growth probability reduce the key interest rate is already at the June meeting. In the short term, we can expect a decrease in the pair to 1.3785, the intersection of which can lead to 1.3685. But it is probable bounce up to 1.3850. From this level a couple needs to sell. The Canadian dollar fell yesterday, the fall in risk appetite, the cause of which was a sharp drop in the euro. But if the pair manages to hold above the 1.0813 level, its growth is likely to 1.0900.

Technical Analysis of EUR/JPY For Today

EUR/JPY Today

Bearish candlestick formation "Kharami" allowed the pair to perform a U-turn in favor of the Japanese currency and start falling towards 261.8% Fib level- 139.41. Education bullish candlestick formation allows traders to expect a reversal in favor of the euro and some growth in the direction of the correctional level 323.6% -150.07. Securing quotations below the 261.8% Fib increase the likelihood of further depreciation in the direction of the next correction level 200.0% -128.71. After the formation of a bearish candlestick formation "veil of dark clouds" on the 4-hour chart the pair performed a U-turn in favor of the Japanese yen and the beginning of the process of falling in the direction of the correctional level of 38.2%- 140.17. Bullish candlestick formation "Kharami" is not allowed to start a pair of growth and formation bearish "Kharami" allowed to continue to drop in prices. Formation of a new bullish formation allows traders May 7 count on a turn in favor of the euro currency pairs and some growth in the direction of the correctional level of 23.6% - 142.28.

NFP Trading Today: The Big Picture

European currency continued positional trading against the U.S. dollar and on Thursday, May 1st, as traders prepare for the release of important fundamental data on employment in the United States, which can only exacerbate the position of the American currency in the medium.

NFP Day The US nonfarm payrolls for April are the focus today. This is a key indicator for all financial markets because of the importance of employment for the Fed, with its dual mandate to “promote effectively the goals of maximum employment, stable prices and moderate long-term interest rates" as well as the importance of employment as an indicator of the US economy’s health as a whole. 

NFP growth has been remarkably steady. Over the last six months the average has been 188k; over the last year, 187k; over the last two years, 178k; and over the last three years, 187k. Not much difference. The market consensus today is for a larger-than-average rise of 218k, up from 192k in March. The forecast is assuming a steady recovery in the economy coupled with some bounce-back in employment as the cold weather ends. The unemployment rate is forecast to stay unchanged at 11.9% as discouraged workers come back into the workforce, raising the participation rate from last December’s low point. 

Looking at USD/JPY, the pair that we find most responsive to NFP, it was actually lower a week later in three out of the last six positive surprises and unchanged once, meaning USD got a sustained rise only two out of the last six times there was a positive surprise. 

In addition to the NFP figure, we should watch two other figures in evaluating the data: average hourly earnings and average weekly hours. The hourly earnings figure is important, because Fed Chair Janet Yellen has identified wages as an important indicator of the labor market. Her reasoning is that wages will start rising once the labor market starts tightening, so the absence of wage rises means a slack labor market, which means less reason to tighten policy = bad for the dollar. The reason we watch the work week is because regardless of all the emphasis on unemployment, in fact there are a lot more people working than not working and if each one works a bit longer and therefore gets paid a bit more, that can add up to a lot of money – far more than the additional wages of those people who get jobs each month. An increase of only 0.1 ppt in the workweek adds roughly as many working hours to the economy as an increase of 350k to payrolls does. 

Technical Analysis GBP/USD For Today: 28 April

After the formation of bullish divergence quotes continue to rise in the direction of correction level 161.8%- 1.7250. Bullish Divergence indicator MACD: last low quotations turned higher than the previous low, a similar indicator- below the previous. If the last low quotes is passed, then the pair will perform a U-turn in favor of the U.S. currency and starts falling, and the divergence is canceled. Emerging divergence is observed. Securing of the pair below the 100.0 % Fib- 1.6319 increase the chances of a further fall in the direction of the next correction level 76.4%- 1.5968.

Quotes on 4-hour chart continues the process of falling in the direction of correction level 200.0% - 1.6697 after the formation of a bearish divergence. Bearish divergence of the indicator MACD: last peak quotations received the same with the previous one, and the same peak indicator - below the previous. Retreat from the correction level 200.0% April 28, allows traders to expect a reversal in favor of the currency of England and some growth in the direction of 261.8% Fib level - 1.7289. Securing of the pair below the 200.0% correction will allow to count on a continued fall.

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FOREX Trading: USD/CAD Technical Analysis on 8th April 2014

USD/CAD Today

Weekly data:

At the senior schedule generally observed only upward movement. In the data the pair is testing the support area 1.1, the successful overcoming of which would open the way to a mark of 1.06. The main purpose for the vendors can deliver 0.98 zone.

Daily data:

Junior secondary testing schedule observed 1,095 support zone. Given the strong removing steam from the main line of the uptrend can be expected to continue downward movement. Initial short-term goal for the sellers deliver 1.07 zone. Protective pause point for short positions will swing high of 1.13.

FOREX Trading Signal For Today: AUD/USD Trend

AUD/USD Today

AUD/USD Trend 

Today the pair AUD/USD traded with a neutral character, bulls gradually gain strength, trying to break out of the range. Currently on the daily chart we can see the main downward trend of gradually increasing interest prevails. As previously predicted, after a bullish rally in the market gradually went along consolidation range 0.9215/0.9265. Now we see how the market has a balance between bulls and bears, giving time for taking a decision on the future course. Development of the plot for the next trading days may be so- maybe we will see further uncertainty in the range (0.9215/0.9265) as long as the bulls or bears are not handled market. If the price still be able to cross 0.9265 mark and demonstrate growing interest in long positions, it is possible to expect a gradual rise to the historical level of 0.9365, which is probably formed deeper bearish correction.

Key resistance levels are 0.9275, 0.9365 and 0.9450 while support levels are looking at 0.9200, 0.9100 and 0.9000 levels

FOREX Signal

Buy a pair of recommended at a price above 0.9265, with the prospect of running to around 0.9365.

Sale recommends a pair at a price below 0.9190, with the prospect of running to around 0.9100.

Today's FOREX Recommendation: GBP-JPY Chart Analysis

GBPJPY Analysis

Today's FOREX Recommendation:

GBP/JPY is taking support at lower trendline of the channel to confirm the bullish trend. If GBP/JPY closes above 172.220 after today's session ends. It will be a good BUY. For More Daily analysis Please fill the trial Form.

Forex: Markets to Look Past European Data

The Australian and New Zealand dollars as well as the Japanese Yen sophisticated in right away deal. This proceed tracked some sort of recovery in YUS Treasury bond futures, suggesting the move likely returned some sort of modification seeing that policy-sensitive currencies digest the very likely velocity regarding Feasted activities in 2014. Standard 10-year YOU produces pulled apart returning from the two-year excessive over 3 pct and bonds recovered last night seeing that marketplaces went back from your Fresh Yr vacation, with an increase of with the similar about deck in Asian countries.

Rhetoric reinforcing the likelihood of continued “tapering” of the Fed’s QE3 program in the months ahead is likely to boost the US Dollar against most of its top counterparts. A more cautious tone stressing the data dependence of near-term policy may yield the opposite effect. The rate-setting FOMC committee began to scale down stimulus in December, reducing asset purchase by a cumulative $10 billion.