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).

Tuesday, 21 February 2017 08:16

USD/JPY Moved Higher Ahead FOMC Minutes

The U.S. dollar was traded slightly higher against the Japanese yen over yesterday’s session as it rose more than 0.4% and surpassed above the strong obstacles, 50 and 100 SMAs on the 4-hour chart. The USD/JPY pair is approaching our recommended target at 200-SMA which is near 113.90 price level (see technical analysis here: http://bit.ly/2m6OkMj). The markets expect a hawkish Fed in the FOMC meeting minutes tomorrow and traders may push the pair further up until our second suggested target at 114.60.

Technical indicators are biased higher. The RSI indicator entered the positive territory, however, now, is sloping slightly lower. On the other hand, the MACD oscillator is rising in the negative path and jumped above its trigger line.

USDJPYH4210217.png

Tuesday, 21 February 2017 08:13

EUR/USD Slipped Below 1.0590 Key Level

The EUR/USD pair has been trading weak since yesterday as the strength of dollar returned and got back some of its losses. The common currency pair slipped below the 50-daily SMA and the 1.0590 price level and opened the way for a retest of the 1.0520 support barrier. Traders prepare themselves for the FOMC minutes tomorrow and are driving the pair lower.

From a technical point of view, on the 4-hour chart, the technical indicators are following a negative path. The MACD oscillator is moving south with strong momentum as it fell below its trigger line. The RSI indicator rebounded on the 50 level and moved lower while now is pointing upwards.

EURUSDH4210217.png

Tuesday, 21 February 2017 08:11

GBP/USD a Bounce On The 1.2490 is Expected

The GBP/USD pair is developing within a narrow range and does not give any signs of turning bullish anytime soon. On a daily timeframe, the pair is trading within a descending triangle since August 28th, 2016 with a strong support level at 1.1985. Also, the price lost its momentum and seems very weak.

Going to a short-term timeframe, the cable is moving in a descending move since February 8th, however, the price lost its momentum and seems very weak. Yesterday, it was a bank holiday and that contributed to the slow markets while the cable continues its low volatility. Despite that, the price may hit the falling trend line on the 4-hour chart and has a pullback until the 1.2385 support barrier. RSI is pointing to the upside and is trying to enter the positive area whilst MACD is still flattening below its zero line.

GBPUSDH4210217.png

Tuesday, 21 February 2017 08:08

WTI Still Trading in a Sideways Channel

Oil prices rose on Monday but the gains were limited. The Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, agreed last year to cut output almost 1.8 million barrels per day during the first half of 2017. The West Texas Intermediate crude oil remained unchanged for more than 10 weeks and is developing within a sideways channel with upper band $54.70 and lower band $51.47.

On a long-term basis, WTI is developing within an ascending move since April 2016 and our expectation is a further upside movement, if the price surpasses the referred upper boundary. The price is trading above the three SMAs on the daily chart while over the last week surpassed the 50-SMA. Technical indicators are following a positive path, however, with no clear directional strength. The RSI indicator is sloping slightly higher and MACD oscillator is holding in a neutral area with weak momentum.

WTICrudeDaily210217.png

Tuesday, 21 February 2017 07:32

Nikkei 225 Closes Up +0.68% at 19,381.44

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