No image available

Yen Rises Ahead Of Japan Consumer Confidence Index

The Cabinet office is slated to release the Japan consumer confidence index for December at 12:00 am ET Tuesday.

Ahead of the data, the yen rose against its major rivals.

As of 11:55 pm ET, the yen was trading at 122.48 against the euro, 140.20 aga…

No image available

Australian Dollar Recovers Against Most Majors

The Australian dollar recovered from early lows against most major currencies in the Asian session on Tuesday.

The Australian dollar rose to nearly a 4-week high of 0.7384 against the U.S. dollar and a 6-day high of 0.9755 against the Canadian dolla…

No image available

Fxwirepro: Nzd/usd Eyes 200-Dma at 0.7080, Good to Go Long on Dips

Technical Analysis:

  • NZD/USD hit fresh 3-week high at 0.7047, intraday bias higher.
  • Potential ‘Bearish Cypher’ pattern seen on daily charts.
  • Momentum studies bullish, scope for test of 200-DMA at 0.7080.
  • However, ‘Death Cross’ (50-DMA and 200-DMA) evidenced, so caution advised.

Fundamental Factors:

  • Recovery seen across the commodities’ space, particularly in oil and copper prices which is supporting commodity currencies
  • Markets look past bearish Chinese CPI data
  • Focus now remain on the upcoming US jobs data for some fresh incentives.

Support levels – 0.70 (23.6% Fib of 0.74854 to 0.68621 fall), 0.6999 (5-DMA), 0.6953 (20-DMA)

Resistance levels – 0.7069 (50-DMA), 0.7080 (200-DMA), 0.7100 (38.2% Fib)

Recommendation: Good to go long on dips around 0.70, SL: 0.6950, TP: 0.7050/ 0.7080/ 0.71

FxWirePro Currency Strength Index: FxWirePro’s Hourly NZD Spot Index was at 102.759(Highly bullish), while Hourly USD Spot Index was at -97.5576 (Bearish) at 0440 GMT. For more details on FxWirePro’s Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

The material has been provided by InstaForex Company – www.instaforex.com

No image available

Technical analysis of EUR/USD for Jan 10, 2017

When the European market opens, some economic data will be released such as French Industrial Production m/m. The US will release the economic news too such as Final Wholesale Inventories m/m, JOLTS Job Openings, and NFIB Small Business Index. So amid …

No image available

Technical analysis of USD/JPY for Jan 10, 2017

In Asia, Japan will release the Consumer Confidence. The US will release a series of economic data such as Final Wholesale Inventories m/m, JOLTS Job Openings, and NFIB Small Business Index. So there is a probability the USD/JPY pair will move with low…

No image available

Technical analysis of NZD/USD for January 10, 2017

NZD/USD is expected to trade with a bullish bias. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index stands firmly above its neutrality level …

No image available

Technical analysis of GBP/JPY for January 10, 2017

GBP/JPY is under pressure. The pair broke above its 20-period moving average but is still trading below the declining 50-period one, which is still playing a resistance role and maintains the downside bias. The relative strength index is around its neu…