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  • USD/CHF Technical Analysis & Daily Chart

    We forecast a bullish movement for the pair in the recent future.

    Today we would focus our analysis on the USD/CHF currency pair. The price recently...
    USD/CHF Technical Analysis & Daily Chart

    We forecast a bullish movement for the pair in the recent future.

    Today we would focus our analysis on the USD/CHF currency pair. The price recently managed to reach areas above 0.9639, and we expect this bullish momentum to continue, possibly as fr as 0.9800.

    After trading between 0.9639-0.9600 for several days (which are the 61.8% and 50% Fibonacci levels), the pair overcame this fluctuation and reached a new high at 0.9733. The old resistance at 0.9639 turned into a support level, while the pair acquired a new resistance at 0.9763 (which also helps to form a double top pattern on the chart).

    Now the price of the USD/CHF can be seen oscillating between 0.9693 and 0.9763. It is demonstrating a markedly bullish character; the RSI indicator also agrees that the pair is located in a bullish trend.

    This is why we expect that the USD/CHF would be able to break its nearby resistance level at 0.9763 and continue moving upward. Our next resistance today is located at 0.9800 and might also be tested, if the first one is successfully overcome. As long as the pair is able to stay above its older channel at 0.9639-0.9600, then expect further growth.

    At the moment of this article’s publication the pair is trading around 0.9650 and most trading indicators show a strong sell suggestion.

    http://www.imghost.in/img/2017-08/17/1efwbcob4yikmudpd3qrswz47.png
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  • EUR/SGD: Fundamental Review & Forecast

    We have an extremely rapid upward trend but it seems like the peak has been reached.

    It is difficult to imagine a more rapid upward trend than we can...
    EUR/SGD: Fundamental Review & Forecast

    We have an extremely rapid upward trend but it seems like the peak has been reached.

    It is difficult to imagine a more rapid upward trend than we can see on the EUR/SGD chart. The Euro strengthened against many currencies, but this did not lead to such a significant increase relative to another currency. At the moment it is likely that the price has reached a peak, especially amid disappointing statistics from the Eurozone. This week the market received data that indicates slower economic growth in the EU. Germany's GDP in the 2nd quarter amounted to only 0.8% yoy, while the market expected a GDP growth of 1.9%. The volumes of industrial manufacturing in the Eurozone fell in June by 0.6%, although this is in line with expectations. The eurozone's GDP is only 0.6% in Q2, which is also in line with the expectation of investors.

    Thus, the Euro doesn't have enough stimulus for growth. The Singapore dollar gets the opportunity to consolidate at least at the current levels and prevent a further falling in price. During the last five months the SGD has changed in price from 1.4845 EUR up to EUR 1.602. It should be noted that the Singapore dollar is now at the level of November 2015. This is another reason why we say that the peak has been reached.

    Next week the Singapore dollar can be supported due to the release of new statistics about industrial production volumes for July and the consumer prices index. The latest data on the economy of Singapore is showing a pretty good economic situation: retail sales in June grew by 1.9% and continue to grow for the fourth consecutive month.

    http://www.imghost.in/img/2017-08/16/ij8xc6rs8sasm64ipawdubo2g.jpg
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  • GBP/NZD Technical Outlook & Daily Chart

    We're waiting for the neckline breaking for the rally of the price.

    After the GBP/NZD currency pair recorded its highest level this year at 1.8945 in...
    GBP/NZD Technical Outlook & Daily Chart

    We're waiting for the neckline breaking for the rally of the price.

    After the GBP/NZD currency pair recorded its highest level this year at 1.8945 in May it turned back to decline by more than 1600 pips and it’s now trading 1.7700. Today the pair slipped down after the negative CPI data from the UK released this morning came at 2.6%, less than the forecasted 2.7%.

    The GBP/NZD pair is trading in a series of corrective waves to exceed the 61.8% Fibonacci. Then it would move between 61.8% and 50% and it’s expected that it will rise in the next trading days to mark new highs this month. If we take a look at the chart below we would recognize a tow bottom pattern (which is a reversal pattern), which may change the market direction to the upside - that is in case the prices break the neckline at 1.7885.

    The Next Few Days

    From this simple analysis of the pair we can buy it now at the current level at 1.7700, keeping our target at 1.7850. We have to go out of the market and wait for the breaking up from the neckline and take another buy position, keeping our target at 1.8230 in case the pair is still trading above the trend line.

    This week the market has some hot news from the UK like the Average Earnings Index and the retail sales and has no news from New Zealand except the GDT price index.

    http://www.imghost.in/img/2017-08/15/m4ozxwindvrgjo1hya4qb79lr.png
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  • GBP/AUD Technical Outlook & H4 Chart

    The bears are back this week to make new lows.

    After the GBP/AUD recorded its highest level this year at 1.7647 in May, it turned back to decline by more...
    GBP/AUD Technical Outlook & H4 Chart

    The bears are back this week to make new lows.

    After the GBP/AUD recorded its highest level this year at 1.7647 in May, it turned back to decline by more than 1350 pips and it’s trading now at 1.6480. Today the Australian Dollar rose in the beginning of the week because of the tension between North Korea and the United States, in addition to China's foreign ministry saying there is no future in a China-U.S. trade war and adding that issues of trade and North Korea are not connected. The ministry also said that China pays great attention to protecting its intellectual property rights and says the essence of U.S.-China trade is mutually beneficial and a win-win.

    The GBP/AUD currency pair is trading inside a downside price channel which may lead the pair to new lows this week. The pair’s trading between support and resistance areas representative at the trend lines and it’s expected that the pair will break the downside trend line to decline further. The moving average is trading above the prices which supports the negative vision, while the Stochastic indicator hasn't shown us the sell signal yet.

    The Next Few Days

    After we learned the outlook for the pair is down, we can take sell positions at the resistance levels, which means we can take sell positions now at the current level 1.6480, sell again if it reaches 1.6560, and place a third sell position at 1.6640, keeping our target for all of them at 1.6310.

    This week the market has some hot news from the UK like the Average Earnings Index and the retail sales. In addition, we expect the Monetary Policy Meeting Minutes for the Australian bank and the Unemployment Rate.

    http://www.imghost.in/img/2017-08/14/9te036txjfbveq1zc83g0jnxl.pnghttp://www.imghost.in/img/2017-08/14/9te036txjfbveq1zc83g0jnxl.png
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