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AUDUSD is at new lows which has been expected recently as rally from April to May highs has a clear corrective personality as mentioned at the time. We labeled it as wave (4), so current leg down from 0.8160 should then be wave (5), final leg within a bearish sequence.
EUR/USD The outlook remains positive after the recent pullback to 1.0925, for a rise towards 1.1085, en route to 1.1215. Crucial on the downside is 1.0925.
IMM positioning data released on Friday shows that speculators increased bullish USD positioning further. From a historical perspective, the change was not particularly significant although it has contributed to send speculative ‘greenback’ positioning to its most bullish level since the beginning of June.
At this stage 0.726 support appears weak, having printed a Shooting Star candle and Bearish Marabuzo on H4 to finish at the 6 year lows. The forces working against it at present are clearly overwhelming the bulls, in the form of plummeting commodity prices, weaker China leaving only the return
The Australian dollar has fallen sharply over the last month which has culminated in a new six year low below 0.7300 to close out last week. It is presently trading just below 0.73 and consolidating in a narrow range, however it is looking poised to drift a little lower.
A few weeks ago the ASX200 enjoyed a solid resurgence back up from support at 5400 to a new three week high above 5650, however over the last week it has met resistance around 5650 and been forced lower. This has resulted in it drifting lower below 5650 however it
The EURUSD had a bullish momentum yesterday topped at 1.1128. As you can see on my H1 chart below price broke above the trend line resistance suggests a bullish outlook. The bias remains bullish in nearest term testing 1.1200. Immediate support is seen around 1.1075.
Dollar-Yen (123.40) has risen after testing 122.98 yesterday. As mentioned yesterday the support near 122.90 may hold for the coming sessions pushing prices back towards 124. However, a break below 122.90 if seen may take it lower to 122.42.
The EUR/USD broke the most recent top again and has closed with yet another higher high. The break of the next resistance line (red) could indicate the potential continuation.
Following the open at 1.0978 the EUR currency saw a strong wave of bids come into the market, erasing both the 4hr supply area at 1.1034-1.1000 and the round number 1.1100, which ended with price being held lower at the 4hr Quasimodo resistance level at 1.1123 (convergence seen here from
The pair is expected to find support at 0.7261, and a fall through could take it to the next support level of 0.7224. The pair is expected to find its first resistance at 0.7331, and a rise through could take it to the next resistance level of 0.7364.
News wires are reporting that Greece will jumpstart with bailout creditors to complete a new €86bn rescue package. Now that the Greek parliament has passed the final batch of reforms demanded by creditors it is expect that the deal can be nail down in weeks.
Precious-Gold hit its lowest level in 5-1/2 years on Friday, set for its sharpest weekly decline in nine months, as a strong U.S. jobless claims data raised speculations the Fed may raise interest rates in September. The yellow metal hit a low of $1077.00 an ounce, while it currently trading
The U.S. economy will publish a several major economic indicators next week. After having a quiet week on the release front in a week that was defined by the Reserve Bank of New Zealand (RBNZ) and the Chinese flash manufacturing PMI the market will have plenty of fundamental data to
The Reserve Bank of New Zealand (RBNZ) is one of the most dovish major central banks in the world in contrast to the Fed, which is probably the most hawkish central bank in the developed world. This is obviously a major problem for NZDUSD that has been in a broad
After taking center stage over the first half of July, international developments moved to the back seat this week, as the risks stemming from Greece and China eased off. Following the recent rout, China's stock markets have steadied, with the Shanghai Composite gaining 2.9% relative to last Friday and recovering
The U.S. economy continues to improve as it pushes through the headwinds faced earlier this year that caused an outright contraction in real GDP. Fortunately, the second quarter is shaping up much better. The Chicago Fed's June National Activity Index rebounded into positive territory for the first time this year,
Welcome to another FOMC week! While probably not yet in play. the Fed's rhetoric out of the meeting will be hugely influential in how the US Dollar behaves heading into the following month. Economists surveyed suggest that still 80% believe that the Fed will move to hike rates in September,
New Zealand saw further weak economic data on Friday as trade balance figures, expected to be announced at 100M actually came in at a negative of -60M, the first negative since December 2014's data. The disappointment was tempered slightly however by the previous read being adjusted 21M higher (371M).
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