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EUR/USD Current rebound above 1.1030 should be considered corrective, preceding another leg downwards, to 1.0950. Initial intraday resistance lies at 1.1110, followed by the crucial high at 1.1168.
The Euro remains at the back foot and eventually closed below daily Ichimoku cloud top that served as good support for over one week. Yesterday's fresh acceleration lower, boosted by stronger dollar, penetrated into cloud and approached next support at 1.1045, daily 100SMA, which was cracked on today's extension to
We have repeatedly commented that gold's near term outlook does not look bright because of the apparent lack of interest from investors worried about the crisis in Greece. Whereas the European stock markets have fallen quite dramatically in response to the deteriorating Greek situation, the precious metal has barely shown
AUDUSD With the pair continuing to weaken, it looks to target the 0.7550 level. AUDUSD is on a second day of decline following its loss of upside momentum on Wednesday. On the downside, support lies at the 0.7550 level. A cut through here will turn attention to the 0.7500
In the last few days the ASX200 index has been able to find some much needed support around 5400 and rally strongly to back above 5600 before easing back a little. In the few days prior there was a strong reversal and sharp fall as the ASX200 index had resumed
In the last 24 hours the AUD/USD has again tested the key support level at 0.76 and enjoyed some solid support. In the last few days the Australia dollar is starting to feel some selling pressure from the 0.77 level as its eyes remain firmly focused on the long term support
The only two notable movements have been in Dollar-Yen and Aussue. Dollar-Yen (123.03) rose past 123.50 to a high near 123.72, but was unable to sustain the rise and fell back. It may trade quiet between 122-124 for some more days but is in an overall uptrend while above 122.00.
Overall, the EUR/USD saw very little movement yesterday. The mid-level number 1.1050 held going into the NFP report which came in lower than expected at 223k jobs. This saw a conservative wave of bids hit the line, pushing prices back up to the round number 1.1100 which held going into
The EURUSD was indecisive yesterday. The bias is neutral in nearest term. Potential daily range to be closely watched is seen between 1.1150 – 1.1030. A clear break above 1.1150 could trigger further bullish pressure testing 1.1200/50. On the other hand, a clear break below 1.1030 could trigger further bearish
THE EURO closed slightly higher on Thursday. The midrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signalling that sideways to lower prices are possible nearterm.
Thursday saw less than stellar news for Greece with the IMF saying that it expects Greece needs an extra EUR50bn over the next three years whilst cutting the growth forecasts from 2.5% to zero. Ahead of Sunday's referendum, the IMF also repeated the suggestion that Greece needs debt relief in
The International Monetary Fund's (IMF) June 30 deadline for Greece to pony up and repay €1.6 billion in loans passed with no payment being made, and no sign of a new bailout deal for the cash-strapped nation in sight. Instead, Greek Prime Minister Alexis Tsipras called a referendum on July
The pair is expected to find support at 1.2518, and a fall through could take it to the next support level of 1.2479. The pair is expected to find its first resistance at 1.2616, and a rise through could take it to the next resistance level of 1.2675.
The pair is expected to find support at 0.9398, and a fall through could take it to the next support level of 0.9365. The pair is expected to find its first resistance at 0.9484, and a rise through could take it to the next resistance level of 0.9537.
The pair is expected to find support at 122.67, and a fall through could take it to the next support level of 122.27. The pair is expected to find its first resistance at 123.60, and a rise through could take it to the next resistance level of 124.13.
The pair is expected to find support at 1.5571, and a fall through could take it to the next support level of 1.553. The pair is expected to find its first resistance at 1.5647, and a rise through could take it to the next resistance level of 1.5681.
The pair is expected to find support at 1.1054, and a fall through could take it to the next support level of 1.1014. The pair is expected to find its first resistance at 1.1128, and a rise through could take it to the next resistance level of 1.1162.
The pair is expected to find support at 0.7555, and a fall through could take it to the next support level of 0.7528. The pair is expected to find its first resistance at 0.7635, and a rise through could take it to the next resistance level of 0.7687.
Shanghai Composite continued its string of particularly large Friday losses, falling by as much as 7% in the morning session before settling off by about 3% going into the break. Policymakers are showing some desperation with chatter of market manipulation by shortsellers.
Overnight, the Australian Dollar declined from 0.7640 to a low of 0.7566 after disappointing Australian retail sales data, followed by a weaker than expected Chinese Services PMI print. The pair has bounced from there, but is still struggling to reach the 0.76 level.
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