Forex Technical Analysis: Trend potential – Upside pressure

USDJPY – Down

Daily chart: the pair reached strong resistance level at 115.06 (round psychological level and middle Bollinger band). There is high possibility of downside bounce. However, if the price enters upper envelope, we may expect breakout of 118.23, though it won’t change general scenario of downside trend reversal.

Upside pressure

Н4: locally we have trending ADX, so 115.06 will get a lot of pressure. We are likely to see further upside breakout.

Upside pressure

Н1: local support level is at 114.60 (middle Bollinger band). One may consider buying from this region in case of downside rollback.

Upside pressure

Expectations: all in all, we are expecting rise to 116 region with possible preliminary rollback to 114.60

Solutions: consider buying from 114.60 to 116.00

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Forex Technical Analysis: Trend potential – Consider selling from 1.2579 to 1.2460

GBPUSD – Flat

Daily chart: there is downside correction towards middle Bollinger band (1.2341). The band is possible starting point of rebouтв towards 1.2646 (upper Bollinger band)

Consider selling from 1.2579 to 1.2460

Н4: intermediate support level is in lower Bollinger band region (1.2460). ADX/RSI is corrective, so this level may be able to stop the pair from further movement and force rollback to 1.2579 (middle Bollinger band)

Consider selling from 1.2579 to 1.2460

Н1: locally we have breakout of lower Bollinger envelope. Considering this set-up one may sell from middle Bollinger band (1.2579). Target is 1.2460

Consider selling from 1.2579 to 1.2460

Expectations: the pair is expected to touch 1.2579 and then decline to 1.2460

Solutions: consider selling from 1.2579 to 1.2460

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Forex Technical Analysis: Trend potential – Decline towards 1.0613

EURUSD – Up

Daily chart: we are observing downside correction towards support level at 1.0613 (middle Bollinger band). This support level is a potential starting point of new rise towards 1.0801 (upper Bollinger band).

Decline towards 1.0613

Н4: here we have active trending ADX, so we are likely to see breakout of 1.0613.

Decline towards 1.0613

Н1: localized support level in lower Bollinger band region (1.0651), is likely to be under pressure because on this chart ADX is very aggressive and trending. So despite of red arrow scenario (rollback towards 1.0684 and 1.0724), we are expecting the core scenario of decline to 1.0613 (blue arrow)

Decline towards 1.0613

Expectations:

Core scenario – decline to 1.0613

Alternative scenario – upside rollback from 1.0651 to 1.0684 and 1.0724

Solutions: consider selling to 1.0613

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Elliott waves for Forex correlation analysis – Downward momentum diminishing but still bearish

EURUSD – Up Wave Analysis: Yesterday, the pair broke below the equilibrium zone, 1.0764-1.0713, headed short and is still pretty much bearish on the daily chart. We’re waiting for a retest of the bottom of the equilibrium zone, 1.0713, to go short at l…

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Company News – FreshForex forecast: US GDP for 4 quarter of 2016

FreshForex forecast: US GDP for 4 quarter of 2016Dear traders,

Gross domestic product (GDP) is an overall rate of economic activity. This Friday, January 27th at 1.30 p.m. GMT Advance US GDP data for 4 quarter of 2016 is going to be released.

We invite you to look over trading forecast of leading FreshForex analyst Catherine Main on this matter:

“Considering uptrend on ISM Non-Manufacturing and Manufacturing indices a positive release may be expected. To that end, there may be decrease in EUR/USD and GBP/USD quotes, on the contrary, USD/JPY and USD/CAD may show an increase in quotes.”

FreshForex experts provide reliable forecasts. Monitor closely the situation on market together with Fresh Forecasts and earn on the key economic events!

FreshForex forecast: US GDP for 4 quarter of 2016

Good luck in trading!
FreshForex — fresh view on money!

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Elliott waves for Forex correlation analysis – Possible double bottom formation

USDJPY – Down Wave Analysis As anticipated, the pair traded short but is currently stalling above 112.54. This is a key support level and unless there’s a clear breakout below this level, we choose to sit on the sidelines and expect a possible rebound …

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Elliott waves for Forex correlation analysis – Bulls eyeing a test of the level 1.2725

GBPUSD – Flat Wave Analysis: As previously forecasted, the cable sustained the break above the break above 1.2414 and is still showing signs of possible momentum to the upper side. We’re waiting for minor bearish pullbacks towards the just broken pivot…

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Elliott waves for Forex correlation analysis – Euro retracing lower but still bullish

EURUSD – Up Wave Analysis: Yesterday, the corrective wave (4) retraced slightly to the lower side but could not go beyond 1.071, and despite the engulfing candle seen yesterday at 08:00, the pair merely tested this level but could still not close below…

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