Forex Daily Analysis - Monday, June 2nd
Elliott Wave and Fibonacci Predictions: EUR/USD - By Capital Forex Group
Hey traders, new week is here and market is already moving like crazy, especially this GBP/JPY dropped for around 250 pips in just a few hours. Ok, as you already know, prices missed my last position from Friday on EUR/GBP for a five pips. However, I removed my orders after this, because it was Friday and you never now about this gap thing in new week. So, I will slow down with my trades on this pair and give to the market sometime to develop how it wants. Right now I am more focused on EUR/USD, so let's see what we have... >>
Currency Technical Report - By FX Greece
Comment : In the last day of the week and the month, euro accelerated from the area of 1.5450 keeping, however, the downward trend that was formed after the tops of 1.5800-20. The risk of a further move resumption to the base of 1.5350-00 is not over and euro's reaction to the first resistance levels that form the trend, will give the first signs. >>
Technical Analysis Daily: USD/JPY - By iFOREX.bg
The US Dollar made an insignificant descent today against the Japanese Yen, from 105.50 to 104.66, which are which are the first resistance and support levels respectively for the currency couple today. If the negative trend deepens, next support further down is expected at the lower limit of the consolidation at 103.70, the break of which would open potential drop towards 103.00. Next resistance upwards is given at the 106.50 level, followed by 107.30. >>
Today's Market Outlook - By Windsor Brokers Ltd
Bounced off 1.5285, 08 May low, to reach 1.5814/18 highs on 22/27 May, retracing over 61.8% of the 1.6020/1.5285 decline. Fresh weakness followed, with break below 1.5692 support, marking top. Losses so far reached 1.5461 on 30 May, ahead of recovery attempt, with gains being so far capped by 1.5569/68. If the later remains intact, this will mark lower top for fresh attempt towards 1.5461. Clearance of 1.5569, however, would confirm today's 1.5514 as a higher low, ahead of fresh push higher to target 1.5607/61 instead. >>
Forex Technical Analytics - By FOREX Ltd
The assumed test of the key resistance range has been confirmed at the end of trading day but the relative rise of bullish activity revealed by OsMA indicator did not dispose to immediate realization of the pre-planned short positions. At present evaluating the situation as an uncertain one concerning a choice of planning priorities by features of relative activity strengthening of both parties, we assume a possibility of pair return to supports 1.9680/1.9700, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers' positions on condition of formation of topping signals the targets will be 1.9740/60, 1.9820/40 and/or further breakout variant up to 1.9880/1.9900, 1.9960/80, 2.0000/20. An alternative for sales will be below 1.9640 with the targets 1.9580/1.9600, 1.9520/40. >>
Currency Pair Daily Forecasts - By Finotec Group
To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bearish direction. Also, MA oscillators indicate a bearish cross on the short MA line. As seen on the chart there are two tops leading downwards to a selling trend, although slightly over sold according to Bollinger on the 30th of May. >>
Daily Forex Analysis - By FOREXYARD
A batch of disappointing economic data left the greenback in bearish territory on Friday to end what had been a positive week for the USD. Amidst an already shaky US economic outlook, personal consumer spending indices showed a slowdown in April as both income and spending numbers came in at 0.2%. The drop in consumption numbers left some investors worried that the US is a long way from the recovery that has been mentioned for the last month or so. Combined with rising food and oil prices, and the abysmal housing market, a poor showing from the University of Michigan Consumer Sentiment report, listed at its lowest mark in 28 years resulted in a correction of the weeks bullish dollar trend. >>
Technical Analysis Daily: GBP/USD - By iFOREX.bg
The British Pound descended significantly against the US Dollar today from 1.9817, broke the past support level at 1.9645 and went down to 1.9600, which are the first resistance and support levels respectively for the currency couple today. If the negative sentiment continues, next support is expected at 1.9540, followed by 1.9480. In upward direction next resistance level today is expected at 1.9930, followed by 2.0000. >>
Daily FX Report - By Varengold Bank
The retail sales in Australia fell 0,2% in April while the market expected an increase. The AUD closed against the USD with a loss 0,5% at 0,9525 after hitting a low of 0,9517. Moreover, the TD Securities - Melbourne Institute reports that the monthly inflation rose 0,3% in May so the annual inflation rate grew to 4,5% which is an 5 year high. >>
Forex Technical Analysis - By DeltaStock Inc.
The pair has set a local top at 1.5818 completing the rise from 1.5283. Technical indicators are neutral. The 50- day SMA is currently projected at 1.5663.
Finally the pair has reached a local bottom at 1.5459, few pips above the 1.5448 support and finalized the slide from 1.5761. The corrective rebound from that level is targeting 1.5591 and probably 1.5607 before renewing the downtrend to 1.5283 and 1.5211. >>
Forex Technical Update - By Rcpl Forex
Pound: Pound traded in arrange of 139 pips on Friday to surge to a high of 1.9822 before closing at 1.9807. The hourly stochastic show an upmove while daily and 4-hrly stochastic still showing selling pressure. Immediate resistance comes in at 1.9755 (55 4-Hourly & 100 Hourly EMA) Look for opportunities to short at those levels (Gbp/Usd- 1.9698). >>
Technical Analysis for Crosses - By Crown Forex
The Pound started to decline against the Yen after the pair gained last week heavily to close near the target at 208.96, yet the drop took the pair into an oversold area according to the momentum indicators over intraday basis and that suggests we should see a slight upside wave before the pair drops back to continue its correctional wave which might take it to the 205.68 if the pair remains trading below the 207.74. >>
EURUSD, AUDUSD, EURCHF Daily Outlook - By E-Forex
Short term sentiment remains mixed although the Euro has found support on the 61.8% retracement of the 1.5285-1.5820 move at 1.5490. While below 1.5615, there are chances of a re-test of the downside support zone at 1.5490 then lower at 1.5430-50. Intra-day momentum is bearish at the time of this report. Current quote is 1.5521 @06:28 GMT >>
Technical Analysis for Major Currencies - By Crown Forex
The European currency opened this way in a somehow neutral territory with 1.5520-00 stand as the major support for the pair, the currency if managed to climb from here will build a double top on the weekly chart and will start achieving its targets. While technical indicators are pointing higher the movement of the currency today still vague as waiting for a retrieval from 1.5520. >>
FX Technical Analysis - By Mizuho Corporate Bank
Comment: A tiny 'spike low' at 1.5461 Friday suggests we shall consolidate above here today and maybe much of this week. Rallies will probably be capped by the very large Ichimoku 'cloud'. Intermediate highs and lows will be hard to spot. >>
Technical Analysis Daily: EUR/USD - By iFOREX.bg
Because of the several good news supporting the US Dollar, the Euro descended significantly against the US Dollar on Friday, from 1.5538 to 1.5466, than recovered to 1.5561. First support for the currency couple today is expected at Friday's bottom at 1.5465. If the negative trend continues, next support is expected at 1.5400, followed by 1.5330. In upward direction first resistance for today is expected at this morning's top 1.5675, the break of which would lead to next target 1.5750, followed by 1.5815. >>
Pro FX Commentary: AUDUSD - By Global Forex Trading
This morning has seen a second test lower and we therefore need a break back above the 0.9560-80 pivot region. If this occurs then look for 0.9636 being the prior Wave b and which could produce a small reaction. Above means we should watch the 66.7% Wave -v- target at 0.9666 and the 76.4% projection at 0.9720. >>
Forex and Dow Jones Recommended Levels - By FXtechtrade
Today's support: - 1.9726 and 1.9710(main), where correction may happen. Break would present 1.9687, where a correction may also be. Then 1.9650. If a strong impulse, we would see 1.9628. Continuation will give 1.9615. >>
Daily Technical Analysis - By FX Instructor
The Euro made a recovery against Dollar on Friday. After bottomed at 1.5462, the pair hit new high of the day, topped at 1.5567 and closed at 1.5554. However, my model remains short targeting 1.5450 area. Immediate resistance seen at 1.5570. CCI in neutral area on daily chart. >>
FX Technical Commentary - By Easy Forex
Euro 1.5555 - Initial support at 1.5462 (May 30 low) followed by 1.5410 (May 6 resistance). Initial resistance is now located 1.5669 (May 29 High) at followed by 1.5761 (May 28 high).
Yen 105.50 - Initial support is located at 104.61 (May 29 low) followed by 103.89 (May 28 low). Initial resistance is now at 105.88 (May 29 high) followed by 106.65 (Feb 28 high). >>
Daily Forex Market Commentary - By Global Forex Trading
The dollar has a down day on Friday versus the European currencies, but only consolidated against the independent yen. I don't expect the start of a new direction on the first day of June, so consolidation should prevail.
Euro/dollar >>
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