Wave Tech Analysis

FxPro Forex Analysis: AUDUSD Wave Analysis – June 29, 2018

• AUDUSD reversed from long-term support level 0.7330 • Likely to rise further AUDUSD continues to rise after the earlier sharp upward reversal from the long-term support level 0.7330 (which stopped the previous downtrend in May of 2017, as can be seen below). The support zone near the support level 0.7330 was strengthened by the lower daily Bollinger Band. If the price closes this week near the current levels it will form the strong daily Japanese candlesticks reversal pattern Morning Star. ...

Wave Tech Analysis

FxPro Forex Analysis: Sugar Wave Analysis – June 29, 2018

• Sugar reversed from support zone • Likely to rise further Sugar recently reversed up from the support zone lying between the key support level 0.1165 (which has been reversing the price from the start of June, as can be seen below), lower daily Bollinger Band and the 50-day moving average. The aforementioned support zone was further strengthened by the support trendline of the daily up channel from May and by the 50% Fibonacci correction of the previous upward impulse wave (1). Sugar is ...

The FxPro Analyst Team

FxPro Forex Analysis: EURUSD and DAX Analysis – June 29, 2018

The European Union leaders have come to an agreement at the EU Summit over immigration after marathon talks in Brussels. The deal appears to include the setting up of migrant centers within the EU and improving border controls. It remains to be seen if the agreement will be sufficient to keep the Merkel coalition government intact. The market reacted with a bounce in the EURUSD pair but the gains could be short-lived as the EU monitory policy differential with the Federal Reserve continues to ...

The FxPro Analyst Team

FxPro Forex Analysis: CADJPY

This pair is finding trend line resistance in its path higher at 83.740 and previous support turned resistance at 83.876. The path higher contains the 50 DMA at 84.175, the 100 DMA at 84.720 and the 200 DMA at 85.390. The resistance level at 85.750 prevented price from rising in April and a break above this point would point to a retest of the May high at 87.089. Above this level there is some space until the 89.600 area with the 90.000 round number a key point of interest. The support of ...

The FxPro Analyst Team

FxPro Forex Analysis: EURGBP

The EURGBP pair moved higher overnight as an agreement was reached during the EU summit on an Immigration Deal. The agreement showed European unity and sent the EUR higher but the content of the deal sees immigrants distributed around the countries willing to accept them. This may damage German Leader Merkel on the home front and so concerns over her position have diminishes but not disappeared. The move higher has faded somewhat from the high at 0.88885. Trend line resistance is planted at ...


Market Holidays 02-04/07/2018

Dear Clients, We would like to inform you that due to Establishment Day of Hong Kong and Independence Day in the U.S., the trading hours of various instruments will be affected between 2-4 July 2018. Please review the trading schedule

The FxPro Analyst Team

FxPro Forex Analysis: Major data releases for today: UK and Canadian GDP being released today.

All Day, The European Council will be meeting today to discuss a range of issues. EUR pairs can move in reaction to this event. At 08:00 GMT, German Unemployment Change (Jun) is expected to be -8K against the previous -11K. Unemployment Rate s.a. (Jun) is expected to be 5.2% against the previous 5.2%. This number is expected to slip further after falling last month. The data is showing that more labour market participants are working with the unemployment rate at a ten year low. EUR traders ...

The FxPro Analyst Team

FxPro Forex Analysis: US Dollar is weaker today after yesterday’s rejection of 95.50

The USD has weakened against the majors after the DXY rejected the 95.50 level in yesterday’s trading creating a technical double top and is now trading down at 94.75 as US GDP disappointed coming 0.2% lower than expected. USDJPY is the only pair countering this trend as it trades higher around 110.680. The EU Summit produced a deal after Italy had initially blocked the move. But an agreement was reached and the EUR is sharply higher, with EURUSD up to 1.16600 from 1.15700. The risk on ...

Wave Tech Analysis

FxPro Forex Analysis: NZDUSD Wave Analysis – June 28, 2018

• NZDUSD broke key support level 0.6780 • Likely to fall further NZDUSD continues to fall after the earlier breakout of the key support level 0.6780 (which stopped the previous sharp corrective wave (A) in November of 2017, as can be seen below). The breakout of the support level 0.6780 follows the earlier breakout of the strong support level 0.6850 (low of the impulse wave 3). The breakup of the support level 0.6780 accelerated the active impulse wave 5, which belongs to the medium-term ...