Daily Technical Report : April 30, 2015

EUR/USD – Technical Report


The EURUSD pair rose yesterday touching 127.2% Fibonacci level located at 1.1175 achieving our suggested target yesterday. The pair is trading above linear regression indicators, and above 113% Fibonacci located at 1.1035, and that make us believe that more bullishness will come. Breaching up 1.1175 will accelerate the bullish wave toward 1.1355 next Fibonacci level.Only breaching down 1.0980 can cancel the bullish expectation, however, for intraday trading we need the pair to trade above 1.1035.

Support Resistance & Recommendation

GBP/USD – Technical Report


The GBPUSD pair rose sharply to trade around 88.6% Fibonacci level located at 1.5440 achieving our first technical target. Trading above 1.5340 considered positive, and may cause more bullishness inside the up channel shown on the image above.However, for today’s intraday trading, trading above 1.5440 is needed to confirm more bullishness toward 1.5555 level.

Support Resistance & Recommendation

USD/JPY – Technical Report


Strong fluctuation has been seen yesterday, but bears dominated market movements. The daily chart offers a bearish sign with stability below linear regression despite the neutrality appearing on other technical indicators. Anyway, we remain neutral over intraday basis, awaiting for a break below 118.40-118.30 to join sellers over short-term basis.

Support Resistance & Recommendation

USD/CHF – Technical Report


The pair has plummeted, activating our proposed sell stop position below 0.9485- support turned into resistance- and that accelerated the bearishness. Stability below this level in addition to the negativity on MACD, RSI and linear regression may bring further depreciation over short-term basis. A break below 0.9325 will expose next support at 0.9180.

Support Resistance & Recommendation

USD/CAD – Technical Report


The USDCAD pair continued to drop as expected achieving our target at 1.1990 presented by 38.2% Fibonacci correction as we can see on the image above. MACD indicator shows negative signs, and linear regression indicators are negatively trading. However, we cannot short the pair now after achieving the target and trading above 38.2% Fibonacci level.Therefore, we prefer staying aside today, waiting for more confirmations.

Support Resistance & Recommendation

AUD/USD – Technical Report


The AUDSUD pair has soared above 0.80 psychological, approaching our detected technical objectives for the bullish scenario. The slight correction seen after this upside actions brought the pair towards the previously broken resistance as seen on the provided daily chart. We classify this correction as a re-test process where the pair may incline once again. Coming again above 0.8000 will accelerate the bullishness.

Support Resistance & Recommendation

NZD/USD – Technical Report


The bullishness seen yesterday has been limited at 0.7745 where the pair has declined during the Asian session, touching the support line seen on the provided daily chart. The current trading levels are very sensitive and risk versus reward ratio becomes inappropriate. We will stand aside to see whether the pair will breach the support line or will move higher again above 0.7630.

Support Resistance & Recommendation

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