Author: Forex Live

Technical Outlook and Review

DXY: On the H4, with RSI moving along an ascending trendline and prices moving along the ascending trendline, we have a bullish bias that bullish momentum will carry prices to 1st resistance at 105.794 where the swing high resistance and 161.8% fibonacci extension are. Once we have upside confirmation, we would expect bullish momentum to […]

GBP/USD Wave Analysis

Sterling broke support level 1.2170 Likely to fall to support level 1.1945 Sterling continues to fall after the earlier breakout of the support level 1.2170 (lower boundary of the narrow sideways price range inside which the pair has been trading from the middle of June). The breakout of the support level 1.2170 continues the active […]

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0481; (P) 1.0543 (R1) 1.0584; More… No change in EUR/USD’s outlook as range trading continues. Intraday bias remains neutral. Further fall is in favor with 1.0786 resistance intact. On the downside, sustained break of 1.0339/48 will resume larger down trend. Next target is long term projection level at 1.0090. In the bigger […]

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2146; (P) 1.2219; (R1) 1.2257; More… Outlook in GBP/USD remains unchanged as range trading continues. Intraday bias stays neutral. Outlook stays bearish as long as 1.2666 resistance holds. On the downside, break of 1.1932 will resume larger down trend from 1.4248. However, firm break of 1.2666 will suggest medium term bottoming and […]

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 135.39; (P) 135.89; (R1) 136.66; More… USD/JPY’s break of 136.70 resistance indicates up trend resumption. Intraday bias is back on the upside. Next target will be 100% projection of 114.40 to 131.34 from 126.35 at 143.29. For now, outlook will remain bullish as long as 134.25 support holds, in case of retreat. […]

NZDUSD Back to Multi-Month Lows; Negative Momentum Prevails

NZDUSD is recording another day of losses after a failed attempt to break significantly above the 0.6395 resistance level and the short-term descending trend line. Chances for a reversal, however, are decreasing as the 20-day simple moving average (SMA) dropped below the 40-day SMA, while the red Tenkan-sen line has a steeper negative slope now, suggesting that […]

Two Trades to Watch: EUR/USD, Gold

EUR/USD falls ahead of German inflation data, central bank speak EURUSD fell 0.6% in the previous session after dismal German consumer confidence, which fell to a record low as inflation and recession risks surged. Today, the pair is extending losses for a second day after ECB’s Christine Lagarde failed to rally buyers, despite hinting towards […]