Trading news



Although immediate ascending trend-channel aptly portrays EURUSD upside, pair's inability to clear short-term downward slanting TL resistance of 1.0650 indicates brighter chances of its pullback to 1.0610 and the channel support of 1.0600. Should prices drop below 1.0600, the 1.0575, adjacent to recent low of 1.0569, may offer consecutive halts to the pair, breaking which 1.0550 and the December 2015 low of 1.0522 could entertain sellers. Additionally, a daily closing below 1.0520, also clearing 1.0500 round figure, might open doors for the pair Bears to aim 2015 lows, around 1.0460, and the 1.0320-25 support-levels. On the contrary, pair's break of 1.0650 can quickly fuel it to channel upper-line of 1.0675, which if not respected could flash 1.0690 and the 1.0715 upside figures on the chart. Given the quote manage to surpass 1.0715, the 1.0740 and the 50% Fibonacci Retracement level of 1.0760 can please Bulls; however, the 61.8% Fibo might confine its additional north-run around 1.0810. In case of the pair's successful break above 1.0810, chances of its short-term downturn gets negated and it becomes capable enough to show 1.0865-70 mark to traders.


Even if the break of 200-day SMA triggered USDJPY rally towards more than five-month high, the pair couldn't surpass May high of 111.45, indicating brighter chances of a pullback towards 109.50 on the closing break of 110.20, comprising 50% Fibonacci Retracement of January – June decline. Should the pair continue trading down below 109.50, the 108.30 and the 107.50-55 may offer follow-on halts during its south-run to 200-day SMA level of 106.40. If the quote dips below 106.40, it becomes wise to expect 105.50 and the 104.20 supports. On the upside, pair's break of 111.45 has to justify its strength by breaking 111.85 in order to challenge 113.00 and 113.80-90 resistances levels. Given the prices rally beyond 113.90, investors can see 114.50-60 upside figures.


AUDUSD's inability to surpass 0.7400 – 0.7410 resistance-zone favors the pair Bears to again drag the quote towards 0.7350 and the 0.7310 prior to re-testing the immediate channel support of 0.7265. In case of the pair additional weakness below 0.7265, the 0.7230 and the 0.7170 may act as buffers prior to reprinting May low of 0.7145 on the chart. Meanwhile, pair's break of 0.7410 may find it hard to clear 0.7465 resistance, including channel resistance and 50% Fibonacci Retracement of its May – November upside. Should we come to place where the pair surpasses 0.7465, the 0.7500, 0.7525 and the 0.7570 are likely resistances to make buyers happy.


USDCAD presently struggles to validate its near-term trend-line break with 1.3350 being immediate support on the downside, breaking which 1.3320 may offer little rest to the pair prior to fetching prices to the 1.3280 – 1.3300 broad support-zone, also including 50% Fibonacci Retracement of its September – November upside. Given the quote declines below 1.3280, the 61.8% Fibo level of 1.3220 and the 1.3170 are expected figures to appear on the chart. Alternatively, pair's break of 1.3400 adjacent resistance can again push it to 1.3425 and the 23.6% Fibo level of 1.3450 while its additional upsides may be capped by 1.3465 and the 1.3480 north-side numbers. In case of the quote's sustained trading beyond 1.3480, its fresh up-move towards 1.3515 and the 1.3565 becomes more likely..

Cheers and Safe Trading,

Anil Panchal

Wednesday, 23 Nov, 2016 / 6:04

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source :

Trading news


Perfect Time to Invest In FAANG Stocks

What happened? Apple, Microsoft, and Google reported their financial results [...]

Posted on Wednesday, 28 Jul, 2021 / 12:31 under

US Q2 GDP: Where Is The Economy Heading?

Tomorrow there is a host of key data coming out ahead of the US session, which [...]

Posted on Wednesday, 28 Jul, 2021 / 12:12 under


Apple’s latest results were driven by stronger-than-expected iPhone [...]

Posted on Wednesday, 28 Jul, 2021 / 10:42 under