Melina DELTAS

Junior Market Analyst, JFD Brokers

Melina joined JFD Brokers in 2016 as a Junior Market Analyst in the JFD Research team. She has a unique ability to communicate market truths - like technical and chart pattern set ups - in a simple way, to improve comprehension and application for the newer trader. Her technically focused strategy looks mainly at price action across multiple time frames to catch those big moves that develop throughout the year. She majored in Pure Mathematics at Lancaster University and has a Master's Degree in Monetary and Financial Economics from the University of Cyprus. Currently specialising in forex, indices and commodities, she is an associate member of the Society of Technical Analysts (STA) and a Certified Financial Technician (CFTe).

The white metal plunged more than 3% in September, after the strong pullback on the $18.20 resistance barrier, four-month high. Silver is creating a correction movement and is developing near the 100-day SMA, as well as near the $16.85 support level. Our expectation is a further decline to 38.2% Fibonacci retracement level (low at $14.30 and high at $18.20) at $16.71, at least.

On the other hand, in case of a bullish movement, the XAG/USD pair will touch the 50-day SMA, near $17.18. It is worth to mention that the price sank below the 50 and 200 week SMAs, while it struggled near the 100-week SMA. On the daily timeframe, the RSI indicator fell into the bearish zone and the MACD oscillator dropped below the zero and trigger lines with stronger momentum than before.

XAGUSDDaily250917.png

The U.S. dollar completed three weak days in a row versus the Canadian dollar and failed to touch the 1.2390 barrier. The USD/CAD pair had a retracement over the last couple of weeks surging to 1.2390 resistance level adding more than 1.4% to its performance. Currently, the commodity currency pair is holding below the first support level of the JFD Pivot Point.

The next target to have in mind is the second support of the pivot point at 1.2230. On the other side, if the price jumps above 1.2390 will hit the 50-day SMA, which is near with the 23.6% Fibonacci retracement level (high at 1.3795 and low at 1.2060), near 1.2460. On the short-term timeframe, the RSI indicator is trying to enter into the positive territory and MACD oscillator is rising in the negative area.

USDCADDaily250917.png

Monday, 25.09.2017, 08:33

Nikkei 225 Closes Up 0.5% at 20,397.58

Published in Indices

The Coca-Cola company (NYSE: KO), which is headquartered in Atlanta, Georgia, is an American multinational beverage corporation. Its stock price is trading in a correction mode, recording the seventh bearish day and slipped beneath the 50-day SMA.

The price is now approaching the $45.30 support handle, which overlaps with the 23.6% Fibonacci retracement level with low at $39.90 and high at $46.95. If the price drops below the latter level and the 100-day SMA, will open the way for the 38.2% fibo level, near $44.24. The MACD oscillator is falling and approaching the zero line. Also, the RSI indicator fell aggressively into the negative territory.

KODaily250917.png

The NZD/USD is trading lower following the rebound on the 0.7430 resistance level, which had a strong upward spike. The commodity currency pair is recording a negative day today as is plummeted almost 1% so far. In addition, the price is posting a positive month covering some losses of the previous month.

Going to the daily timeframe, the 50-SMA is ready to create a bearish crossover with the 100-SMA signalling for more bearish movement. The MACD oscillator lies above the zero line with weak momentum, as well as the RSI indicator, which is sloping to the downside. Also, the stochastic oscillator is moving lower slightly above the 20 level. The next support level to have in mind is the 0.7180 barrier. 

NZDUSDDaily250917.png

Thursday, 21.09.2017, 12:56

U.S. Initial Jobless Claims 259K vs 302K estimate

Published in Indices
Thursday, 21.09.2017, 12:55

Canada Wholesale Trade Sales + July 1.5% vs -0.7% exp

Published in Indices
Thursday, 21.09.2017, 07:18

GBP/USD Has Weak Movement The Last 2 Days - Neutral Bias

Published in Forex

Over the last three trading days, the cable ends the sessions near its opening levels, indicating weak momentum expanding its gains. During yesterday’s period, the GBP/USD pair broke above the 1.3616 and challenged a new 15-month high at 1.3655 due to stronger than expected retail sales. However, the price settled the day near the 1.3500 psychological level. Monthly, the price soared more than 4.4% following the rebound on 1.2910 support barrier.

Technically, on the daily chart, the MACD oscillator is flattening in the overbought area as well as the RSI indicator. On the other side, the stochastic oscillator is falling. The technical indicators are signalling for a pause of the upward movement and maybe is the time for a retracement. The next level to watch to the downside is the 1.3330 handle. 

GBPUSDDaily210917.png

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