Monday, 23.04.2018, 08:47

GOLD - Keep Calm And Watch The Levels

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Published in Commodities & Metals

REVIEW

Gold has been stuck in this choppy range between around 1305 and 1365. The precious metal kept reacting to geopolitical tensions, that were either rising or easing. That said, on Thursday, the precious metal surrendered to the greenback’s strength and tumbled towards the upside support line drawn from the low of the 12th of December.

OUTLOOK (SCENARIO A / B)

Looking at the daily chart, we can see that Gold is still hanging around that medium-term upwards moving trendline. Therefore, we stay cautious, because a break of that trendline could open the path towards the 1325 area. If this level proves to be a weak support area and the price moves lower, then 1320 could be a good level to watch.

Alternatively, bearing in mind the safe-haven status of the precious metal, any headlines sparking fresh fears around the trade or the geopolitical fronts could cause a reversal back to the 1355 area. A break above 1355 may open the path towards the 1365 level, that could act as a strong resistance area.

2018.04.23 GOLD Daily Logo

Disclaimer:

The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. JFD Brokers is not liable for any damages that may be caused by individual comments or statements by JFD Brokers analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyzes and must therefore be viewed by the reader as marketing information. JFD Brokers prohibits the duplication or publication without explicit approval.

FX and CFDs are leveraged products. They are not suitable for every investor, as they carry high risk of losing your capital. Please ensure that you fully understand the risks involved.

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Monday, 23.04.2018, 08:38

AUD/USD - Still Within The Channel

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Published in Forex

REVIEW

AUD/USD was also hit last week by the stronger US Dollar. After some sideways price action in the beginning of the week, the pair made some strong moves south on Thursday and Friday. All eyes are on this week’s trading activity, as AUD/USD is close to its strong support level at around 0.76400.

OUTLOOK (SCENARIO A / B)

Still, AUD/USD is trading above the longer-term upwards moving trendline that started in January 2016. So judging by this, the overall long-term outlook is still positive and recent negative activity marked by the downside channel could be seen as a corrective move. If we see a strong reversal back up and a break of the 0.77250 area, then we may see a test at the upper bound of the downwards moving channel. A break above the channel’s upper bound could pave the way to last week’s highs at around 0.78100, the break of which could be a signal for the bulls to take control and push the price higher, maybe even towards the 0.79100 area.

That said though, because the price is not far from the aforementioned long-term upwards moving trendline, AUD/USD could potentially make its way to that line for a quick test. A break below the 0.76400 could mean exactly that. If the trendline won’t stop the price from falling and we see a weekly close below it, then this could signal a change in the long-term trend. The price then could potentially make its way towards the 0.75500 area or even lower.

2018.04.23 AUDUSD Daily Logo

Disclaimer:

The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. JFD Brokers is not liable for any damages that may be caused by individual comments or statements by JFD Brokers analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyzes and must therefore be viewed by the reader as marketing information. JFD Brokers prohibits the duplication or publication without explicit approval.

FX and CFDs are leveraged products. They are not suitable for every investor, as they carry high risk of losing your capital. Please ensure that you fully understand the risks involved.

Copyright 2018 JFD Brokers Ltd.

Brent oil traded lower yesterday, after it hit resistance at 74.15, a level last seen on the 27th of November 2014. However, the slide was stopped near the 72.75 support, marked by the peak of the 11th of April. The price continues to trade above the long-term uptrend line drawn from the low of the 21st of June 2017 and thus, the broader upside path remains intact in our view. As for the short-term picture, we believe that it is positive as well. On the 4-hour chart, the price structure remains of higher peaks and higher troughs above all three of our moving averages, which point north.

If the bulls manage to take the reins from current levels, then we may see them aiming for another test near the 74.15 barrier, the break of which may pave the way for the psychological zone of 75.00. Another break above 75.00 could open the way for our next resistance of 76.75, marked by the inside swing low of the 14th of November 2014.

Taking a look at our short-term oscillators, we see that the RSI, already above 50, has turned up again and looks to be headed near its 70 line. However, the MACD, although positive, lies below its trigger line. What’s more, there is negative divergence between this indicator and the price action. We would like to see the MACD turning up and crossing back above its trigger line before we get more confident on larger bullish extensions.

On the downside, a dip below 72.45 could confirm the negative divergence between the MACD and the price action, and could signal the beginning of a bigger corrective phase. Such a dip may see scope for downside extensions towards our next support of 70.70.

BrentCrudeH4 200418

 

Disclaimer:

The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. JFD Brokers is not liable for any damages that may be caused by individual comments or statements by JFD Brokers analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyzes and must therefore be viewed by the reader as marketing information. JFD Brokers prohibits the duplication or publication without explicit approval.

FX and CFDs are leveraged products. They are not suitable for every investor, as they carry high risk of losing your capital. Please ensure that you fully understand the risks involved.

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USD/CAD edged north yesterday after it hit support at 1.2585. The recovery brought the rate above the resistance (now turned into support) barrier of 1.2655, but the pair continues to trade below the downtrend line drawn from the peak of the 19th of March. Thus, for now, we still see a cautiously negative short-term outlook.

Having said that though, today’s directional move is likely to be dictated by Canada’s CPIs later in the day. If inflation accelerates, then the pair could reverse and break back below 1.2655. Such a dip may open the way for another test near 1.2585. If that level does not hold, then we may see more downside extensions, perhaps towards 1.2545.

Turning attention to our short-term momentum studies, we see that the RSI has flatten slightly below its 70 line. However, the MACD remains above both its zero and trigger lines, suggesting that USD/CAD may continue to trade higher heading into the data, perhaps for a test near the aforementioned short-term downtrend line.

Now if the bulls prove strong enough to overcome that downside line, then we may see them initially aiming for the 1.2745 resistance hurdle. The catalyst for a break above that line could be a negative surprise in today’s inflation data. Another break above 1.2745 is possible to set the stage for more bullish extension, perhaps towards our next resistance of 1.2800.

USDCADH4 200418

 

Disclaimer:

The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. JFD Brokers is not liable for any damages that may be caused by individual comments or statements by JFD Brokers analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyzes and must therefore be viewed by the reader as marketing information. JFD Brokers prohibits the duplication or publication without explicit approval.

FX and CFDs are leveraged products. They are not suitable for every investor, as they carry high risk of losing your capital. Please ensure that you fully understand the risks involved.

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EUR/GBP surged yesterday following Governor Carney’s remarks. The rate broke two resistance (now turned into support) barriers in a row and during the early European morning Friday, it is trading slightly above the 0.8760 line. Wednesday’s slowdown in the UK CPIs brought the rate back within the medium-term downside channel that’s been containing the price action since late September, and also above the short-term downside resistance line taken from the peak of the 12th of March. What’s more, yesterday’s rally pushed the pair above all three of our moving averages.

Having all these in mind, we believe that there is scope for more recovery now. If the bulls manage to take the reins again today, then we may see them aiming for the 0.8790 resistance barrier. That said, we would like to see a decisive move above 0.8800 before we get confident on more upside extensions. Such a move could set the stage for our next resistance hurdle of 0.8825, defined by the inside swing low of the 15th of March.

Looking at our short-term oscillators, we see that the MACD lies above both its zero and trigger lines, supporting the case for further advances. Nonetheless, the RSI stands flat near its 70 line. It could top from there. This suggests that a corrective setback may come in play before, and if, the bulls decide to shoot again.

A dip back below 0.8760 could confirm the case for such a retreat and may open the way for our next support of 0.8725. If that level does not hold either, then we may see downside extensions towards the 0.8690 zone, marked by yesterday’s low.

EURGBPH4 200418

 

Disclaimer:

The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. JFD Brokers is not liable for any damages that may be caused by individual comments or statements by JFD Brokers analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyzes and must therefore be viewed by the reader as marketing information. JFD Brokers prohibits the duplication or publication without explicit approval.

FX and CFDs are leveraged products. They are not suitable for every investor, as they carry high risk of losing your capital. Please ensure that you fully understand the risks involved.

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Thursday, 19.04.2018, 11:16

EUR/JPY Trades North, But Hits Resistance at 133.10

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Published in Forex

EUR/JPY traded higher during Asian trading Thursday but hit resistance at 133.10 during the European morning and then it retreated. The pair continues to trade above the uptrend line drawn from the low of the 22nd of March and thus, we believe that the short-term outlook remains positive.

A clear and decisive break above 133.10, a resistance also marked by the peaks of the 16th and 21st of February, may signal the continuation of the short-term uptrend and is possible to trigger extensions towards our next obstacle of 133.75, defined by the high of the 12th of February.

Shifting attention to our short-term momentum indicators, we see that the RSI has turned down after it hit resistance slightly below 70, while the MACD, although above both its zero and trigger lines, shows signs of flattening. What’s more, there is negative divergence between the RSI and the price action. These momentum signs suggest that further downside correction may be on the cards before, and if, the bulls decide to take the reins again, perhaps for another test near 132.45.

Even if that barrier does not hold the rate from falling further, EUR/JPY would still be trading above the short-term uptrend line. We would still see a decent likelihood for the bulls to jump in near the crossroads of that line and the 132.10 support. A decisive dip below 132.10 and the uptrend line is needed before we start examining the case of a near-term trend reversal.

EURJPYH4 190418

 

Disclaimer:

The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. JFD Brokers is not liable for any damages that may be caused by individual comments or statements by JFD Brokers analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyzes and must therefore be viewed by the reader as marketing information. JFD Brokers prohibits the duplication or publication without explicit approval.

FX and CFDs are leveraged products. They are not suitable for every investor, as they carry high risk of losing your capital. Please ensure that you fully understand the risks involved.

Copyright 2018 JFD Brokers Ltd.

GBP/USD fell off the cliff yesterday after the UK CPI data were out. The pair broke two support (now turned into resistance) barriers in a row, to eventually stop slightly above the 1.4160 hurdle. Cable continues to trade above the upside support line drawn from the low of the 13th of November, and thus we stick to our guns that the medium-term outlook remains positive.

If the bulls manage to take the reins soon and drive the battle back above the 1.4230 barrier, the we may see them initially aiming for the 1.4280 resistance. Another break above that obstacle, could set the stage for extensions towards the 1.4375 zone, defined by Tuesday’s high.

Shifting attention to our short-term momentum studies, we see that the RSI, although below 50, shows signs of bottoming, which supports the case for Cable to recover somewhat. However, the MACD points to the opposite direction. It lies below both its zero and trigger lines, pointing down. This indicator suggests that the pair may retreat a bit further.

A clear break below 1.4160 could confirm the case for further retreat and may see scope for extensions towards our next support of 1.4100. However, even if this is the case, the pair would still be trading above the uptrend line drawn from the low of the 13th of November. We would like to see a clear dip below 1.4080 before w start examining the case of a trend reversal. Such a dip could open the path towards the psychological zone of 1.4000.

GBPUSDH4 190418

 

Disclaimer:

The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. JFD Brokers is not liable for any damages that may be caused by individual comments or statements by JFD Brokers analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyzes and must therefore be viewed by the reader as marketing information. JFD Brokers prohibits the duplication or publication without explicit approval.

FX and CFDs are leveraged products. They are not suitable for every investor, as they carry high risk of losing your capital. Please ensure that you fully understand the risks involved.

Copyright 2018 JFD Brokers Ltd.

 

 

CAD/JPY tumbled yesterday following the BoC decision. The fall came after the pair found resistance near 85.40, but it was stopped near 84.65, slightly below the 50-EMA, and then the rate rebounded. The pair continues to trade above the prior medium-term downside line taken from the peak of the 5th of January, and also above the short-term upside support line drawn from the low of the 19th of March. What’s more, it continues to trade above all three of our moving averages. In our view, this still keeps the near-term outlook cautiously positive.

If the post-BoC recovery continues today as well, then we may see another test near 85.40 soon, the break of which could pave the way for the 85.70 resistance. Another break above that barrier could pave the way for the 86.00 zone, defined by the inside swing low of the 12th of February. 

Looking at our short-term oscillators, we see that the RSI rebounded and just poked its nose back above 50, but the MACD, although positive, lies below its trigger line, very close to zero. Although the RSI supports somewhat the case for further recovery, we would like to see a rebound in the MACD as well before we get more confident that the prevailing uptrend could be extended.

On the downside, a dip below 84.55 could confirm that the bears have taken back control and could initially aim for the next support of 84.15. Another break below that level could aim for the 83.90 line.

CADJPYH4 190418

 

Disclaimer:

The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. JFD Brokers is not liable for any damages that may be caused by individual comments or statements by JFD Brokers analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyzes and must therefore be viewed by the reader as marketing information. JFD Brokers prohibits the duplication or publication without explicit approval.

FX and CFDs are leveraged products. They are not suitable for every investor, as they carry high risk of losing your capital. Please ensure that you fully understand the risks involved.

Copyright 2018 JFD Brokers Ltd.

Silver surged on Wednesday, after it hit support near the 16.73 level. The metal continues to trade above the short-term uptrend line taken from the low of the 5th of April, but it is also trading within a sideways range, between 16.20 and 16.87 since mid-February.

Having that in mind, we would like to see a decisive move above 16.87 before we get confident on more upside extensions. Currently, the price is testing that hurdle, and if the bulls prove strong enough to overcome it, then we may see them targeting our next resistance zone of 17.00, defined by the peak of the 6th of February and the inside swing low of the 1st of the month.

Looking at our short-term oscillators, we see that the RSI edged north after it hit support near its 50 level and its respective upside support line, while the MACD lies above both its zero and trigger lines, pointing up as well. These indicators reveal upside momentum and support the case for a break above 16.87.

On the downside, if the bears manage to take charge near the key resistance zone of 16.87, then we could see a retreat back towards 16.73. However, a break below that support and the aforementioned short-term uptrend line is needed before we start examining the case of a near-term trend reversal. Such a dip could initially set the stage for our next support of 16.60.

XAGUSDH4 180418

 

Disclaimer:

The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. JFD Brokers is not liable for any damages that may be caused by individual comments or statements by JFD Brokers analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyzes and must therefore be viewed by the reader as marketing information. JFD Brokers prohibits the duplication or publication without explicit approval.

FX and CFDs are leveraged products. They are not suitable for every investor, as they carry high risk of losing your capital. Please ensure that you fully understand the risks involved.

Copyright 2018 JFD Brokers Ltd.

Wednesday, 18.04.2018, 07:21

GBP/USD Slides After Jobs Data; Awaits for CPIs Today

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Published in Forex

GBP/USD traded lower yesterday following the UK employment data. The retreat came after the pair found resistance near 1.4375 and it was stopped by the 1.4280 support. Cable continues to trade above the upside support line drawn from the low of the 13th of November, and thus we stick to our guns that the medium-term outlook remains positive.

That said, today’s direction is likely to be dictated by the release of the UK CPI data for March. If UK inflation accelerates, this could encourage buyers to drive the battle up for another test near 1.4375. A decisive move above that resistance may pave the way for our next obstacle of 1.4435, defined by the inside swing low of the 19th of June 2016.

Shifting our attention to our short-term oscillators though, we see the case for the rate to continue its retreat ahead of the data. The RSI has slid after it exited its above-70 territory, while the MACD, although positive, lies below its trigger line and points down. A dip below 1.4280 could confirm the case for further setback and could aim for the next support of 1.4230.

If the 1.4230 barrier fails to hold the rate from falling further, then we may experience extensions towards the 1.4160 zone. The trigger for such a slide could be a disappointment in today’s CPI data.

GBPUSDH4 180418

 

Disclaimer:

The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. JFD Brokers is not liable for any damages that may be caused by individual comments or statements by JFD Brokers analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyzes and must therefore be viewed by the reader as marketing information. JFD Brokers prohibits the duplication or publication without explicit approval.

FX and CFDs are leveraged products. They are not suitable for every investor, as they carry high risk of losing your capital. Please ensure that you fully understand the risks involved.

Copyright 2018 JFD Brokers Ltd.

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