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 GBP/USD pair is posting the fifth bullish day in a row and is trying to expose above the strong resistance obstacle of 50-day SMA. The cable is still developing within a narrow range with upper boundary the 1.3320 key level and lower boundary the 1.3040 support barrier. The rebound on the ascending trend line the previous days helped the price to move higher and the next level to have in mind is the aforementioned upper band.

Technically, on the daily timeframe, the technical indicators are moving slightly higher. The MACD oscillator is rising in the negative territory with weak momentum and the Relative Strength Index (RSI) is is pointing to the upside above the 50 level.

GBPUSDDaily171117.png

The USD/CAD pair dropped sharply since the beginning of the month and we will not be surprised by the relief move to the upside. The commodity currency pair recorded two straight negative weeks, plunging more than 1%. Also, the price hit the ascending trend line that is holding over the last two months. The price printed the sixth consecutive bullish day and we are expecting further upward tendency.

The next target to have in mind is the 1.2920 resistance level, which overlaps with the 200-day SMA as well as with the 50.0% Fibonacci retracement level with high at 1.3790 and low at 1.2060. The technical indicators are confirming the recent rising momentum as the RSI indicator is pointing to the upside in the positive territory and the MACD oscillator is holding above its zero line with weak momentum.

USDCADDaily171117.png

Friday, 17.11.2017, 07:45

Nikkei 225 Closes Up +0.2% at 22,396.90

Published in Indices

Unfortunately, the EUR/USD pair paused its aggressive buying interest as it failed to hit the 1.1880 resistance level and struggled within the 50 and 100 SMAs on the daily timeframe. The single currency exited from the narrow range 1.1575 – 1.1690 with strong movement versus the greenback but it completed the second straight bearish day. Our expectation is a return to 1.1690 and then a continuation of the upside movement. On the daily timeframe, the technical indicators seem to be in confusion. The RSI indicator is sloping to the downside on the positive territory, whilst the MACD oscillator is rising in the bearish zone.   

 EURUSDDaily171117.png

The euro moved mixed against almost all the G10 basket and the EUR/USD pair is moving higher ahead of the ECB President Mario Draghi’s speech. In the U.S., the jobless claims rose to a six-week high level and the USD/CAD pair struggles below 1.2790. 

Thursday, 16.11.2017, 10:05

Eurozone CPI Oct m/m 0.1% vs 0.1% exp

Published in Indices
Thursday, 16.11.2017, 10:04

U.K. Retail Sales Oct m/m 0.3% vs. 0.2% estimate

Published in Indices
Thursday, 16.11.2017, 08:39

Nikkei 225 Closes Up +1.47% at 22,351.12

Published in Indices
Thursday, 16.11.2017, 08:17

USD/JPY Dropped Sharply Below 112.95 Critical Level

Published in Forex

The USD/JPY pair developed on a rollercoaster ride yesterday as it plummeted 0.6%. The greenback recorded the third bearish day in a row versus the Japanese yen and slipped beneath the 112.95 strong level. Currently, the price is approaching again the latter level whilst it is still moving beneath the 50-day SMA. The next level to have in mind to the downside is the 111.50 – 111.65 support area, which coincides with the 100-day SMA. On the other hand, if the price fails to slip lower will open the door for the 114.40 resistance level. The RSI indicator dropped below the 50 level after the sharp sell-off on price and the MACD oscillator is moving lower in the positive territory in the short-term timeframe. 

USDJPYDaily161117.png

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