Tag: usd

تحليلات الاسبوع- Forex Technical Analysis: Trend potential – Weekly Review of S&P500 index, gold and Brent

S&P500

Monthly: ADX still had not responded to a two-month’s surge of the index, which can mean lack of trend capacity and anticipate a downward reversal.

Weekly: the oscillator has signs of bearish divergence, although simultaneous growth of ADX/RSI and unconfident weekly pinbar can be a trap for those huntering for reversal.

Daily chart: resistance is around the upper Bollinger band (2278.9), support is at 2222.5 (middle band). The key indicators are in extreme zone, so this corridor is likely to be maintained.

Expectations: now, we are waiting for touch of level 2278.9 and then a downward rollback to the target 2222.5.

Solutions: sales from 2278.9 to 2222.5

“Brent”

Monthly: despite strenuous attempts of buyers who can visually lift the price up to 66.80 (the upper Bollinger band), Brent does not have trend support from ADX. This, in turn, can lead to continuation of the flat around the middle band (50.00)

Weekly: the top envelope was broken a very unusual way: by a gap! Personally, I have seen this happen not very often, so this setup is unsafe. However, it makes sense to monitor Buy signals at the middle Bollinger band (49.08).

Daily chart: at this local frame, Brent is at the upper range of Bollinger envelope (52.07-57.93). Northern momentum is still present, but here ADX did not support bulls as well. So we expect return to 52.07 after touch of 57.93.

Expectations: drop to 52.07 (probably, after touch of 57.93)

Solutions: sales from 57.93 to 52.07

Gold

Monthly: the price has confidently turned to the bottom Bollinger envelope. We can expect it to fall to 1026.03 (bottom band)

Weekly: a better shaped support around 1082.24. Bullish pattern Over&Under can also be noticed around this zone. Therefore, in this area I would recommend to take profit on sales and closer look to purchases.

Daily chart: the inside bullish bar formed from the bottom Bollinger band is dangerous for sales. Therefore, we must proceed from the possibility of a rollback to the middle band (1177.16)

Expectations:

The main scenario – an upward rollback to 1177.16 and then continuation of drop to 1128.26 with the target at 1082.24

The alternative scenario – a direct drop to 1082.24

Solutions: sales from 1177.16 to 1082.24.

تحليلات الاسبوع- Elliott waves for Forex correlation analysis – Gold, Silver Oil weekly review

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Gold weekly Review:

Gold, Silver Oil weekly review

Wave Analysis
 
For the past few weeks, gold markets entered into a bearish consolidation only trading within the descending channel. As long as the yellow metal trades within this channel, we expect further momentum to the lower side. in the meantime, we’re waiting for the corrective wave (4) to retrace towards the upper trend line forming top of the falling channel to sell the next impulsive wave (5) towards 1069 or even lower. This downward rally is highly anticipated since, Silver, a positively correlated commodity, is pretty much bearish and will trade with a bearish bias during this intraday. Only buy or sell gold if silver is giving the same signal.:
 
Trade Recommendations:
 

Remain short with the first target at 1069.

Silver weekly Review:

Gold, Silver Oil weekly review

Wave Analysis:
 

During the previous trading week ending 16th December 2016, the commodity retraced to the upper side but could not go beyond the resistance level 17.37. We expect the resistance level 17.37 to have marked the end of the corrective wave (b) and that the current downward rally is the unfolding of the impulsive wave (c) to the lower side. As long as the level 17.37 limits any invasion to the upper side, an acceleration towards 13.79 is highly likely. This downward rally is highly anticipated since Gold, a positively correlated commodity, is showing signs of similar bearish momentum and will head to the lower side. Ideally, gold drags silver alongside it. Only buy or sell silver if gold is giving the same signal.

Trade Recommendations:

Remain short with the first target at 13.79.

Oil weekly Review:

Gold, Silver Oil weekly review

Wave Analysis:
 

Earlier the previous week ending 16th December 2016, the crude oil gaped to the upper side but ended up forming an exhaustion candle around 52.77. The commodity then traded massively short but is currently pulling back towards 52.77.  We expect the current upward rally to be the continuation of the  corrective wave (b) and should not go beyond 52.77 from where we’ll be looking to sell the next impulsive wave (c) towards 44.96. In the meantime, instead of going long, we choose to sit on the sidelines and wait for a clear rebound from 52.77 to sell wave (c) at low risk. The anticipate sell position sho0uld have the first target at 48.02 and the target at 44.96.

Trade Recommendations:

Go short upon a clear rebound from 52.77 with an ideal target at 44.96.

 

تحليلات الاسبوع- Forex Technical Analysis: Trend potential – Weekly Review of S&P500 index, gold and Brent

S&P500

Monthly: ADX still had not responded to a two-month’s surge of the index, which can mean lack of trend capacity and anticipate a downward reversal.

Weekly: the oscillator has signs of bearish divergence, although simultaneous growth of ADX/RSI and unconfident weekly pinbar can be a trap for those huntering for reversal.

Daily chart: resistance is around the upper Bollinger band (2278.9), support is at 2222.5 (middle band). The key indicators are in extreme zone, so this corridor is likely to be maintained.

Expectations: now, we are waiting for touch of level 2278.9 and then a downward rollback to the target 2222.5.

Solutions: sales from 2278.9 to 2222.5

“Brent”

Monthly: despite strenuous attempts of buyers who can visually lift the price up to 66.80 (the upper Bollinger band), Brent does not have trend support from ADX. This, in turn, can lead to continuation of the flat around the middle band (50.00)

Weekly: the top envelope was broken a very unusual way: by a gap! Personally, I have seen this happen not very often, so this setup is unsafe. However, it makes sense to monitor Buy signals at the middle Bollinger band (49.08).

Daily chart: at this local frame, Brent is at the upper range of Bollinger envelope (52.07-57.93). Northern momentum is still present, but here ADX did not support bulls as well. So we expect return to 52.07 after touch of 57.93.

Expectations: drop to 52.07 (probably, after touch of 57.93)

Solutions: sales from 57.93 to 52.07

Gold

Monthly: the price has confidently turned to the bottom Bollinger envelope. We can expect it to fall to 1026.03 (bottom band)

Weekly: a better shaped support around 1082.24. Bullish pattern Over&Under can also be noticed around this zone. Therefore, in this area I would recommend to take profit on sales and closer look to purchases.

Daily chart: the inside bullish bar formed from the bottom Bollinger band is dangerous for sales. Therefore, we must proceed from the possibility of a rollback to the middle band (1177.16)

Expectations:

The main scenario – an upward rollback to 1177.16 and then continuation of drop to 1128.26 with the target at 1082.24

The alternative scenario – a direct drop to 1082.24

Solutions: sales from 1177.16 to 1082.24.

تحليلات الاسبوع- Elliott waves for Forex correlation analysis – Gold, Silver Oil weekly review

.

Gold weekly Review:

Gold, Silver Oil weekly review

Wave Analysis
 
For the past few weeks, gold markets entered into a bearish consolidation only trading within the descending channel. As long as the yellow metal trades within this channel, we expect further momentum to the lower side. in the meantime, we’re waiting for the corrective wave (4) to retrace towards the upper trend line forming top of the falling channel to sell the next impulsive wave (5) towards 1069 or even lower. This downward rally is highly anticipated since, Silver, a positively correlated commodity, is pretty much bearish and will trade with a bearish bias during this intraday. Only buy or sell gold if silver is giving the same signal.:
 
Trade Recommendations:
 

Remain short with the first target at 1069.

Silver weekly Review:

Gold, Silver Oil weekly review

Wave Analysis:
 

During the previous trading week ending 16th December 2016, the commodity retraced to the upper side but could not go beyond the resistance level 17.37. We expect the resistance level 17.37 to have marked the end of the corrective wave (b) and that the current downward rally is the unfolding of the impulsive wave (c) to the lower side. As long as the level 17.37 limits any invasion to the upper side, an acceleration towards 13.79 is highly likely. This downward rally is highly anticipated since Gold, a positively correlated commodity, is showing signs of similar bearish momentum and will head to the lower side. Ideally, gold drags silver alongside it. Only buy or sell silver if gold is giving the same signal.

Trade Recommendations:

Remain short with the first target at 13.79.

Oil weekly Review:

Gold, Silver Oil weekly review

Wave Analysis:
 

Earlier the previous week ending 16th December 2016, the crude oil gaped to the upper side but ended up forming an exhaustion candle around 52.77. The commodity then traded massively short but is currently pulling back towards 52.77.  We expect the current upward rally to be the continuation of the  corrective wave (b) and should not go beyond 52.77 from where we’ll be looking to sell the next impulsive wave (c) towards 44.96. In the meantime, instead of going long, we choose to sit on the sidelines and wait for a clear rebound from 52.77 to sell wave (c) at low risk. The anticipate sell position sho0uld have the first target at 48.02 and the target at 44.96.

Trade Recommendations:

Go short upon a clear rebound from 52.77 with an ideal target at 44.96.

 

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AUDNZD Free Elliott wave trade signal: Buy position entered

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Analysis
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