Key To Markets - Support

RBNZ preview. NZD remains bullish.

1. NZDUSD remains bullish ahead of RBNZ event (May 11).
2. NZDCHF gave an upside breakout through inverse H&S pattern on the hourly chart.
3. NZDJPY gave an upside breakout on the four-hour chart.

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Read the article on our Key To Markets Blog

Gold: Implied volatility has eased towards 2005 lows.Bargain hunting expected.

1. Gold price re-tested the four-month trendline.
2. Implied volatility has eased towards 2005 lows.
3. Gold price increasingly oversold, RSI at 30.
4. Past three hikes painted a low for gold prices.

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Read the article on our Key To Markets Blog

Lonnie responded in a negative way to Moodys downgrade down 0.40%, nearly, against the crosses.

1. Following Moodys rating action on Canadian Banks, Lonnie drifts 0.40% against crosses on Asia trade.
2. Moodys has downgraded today the BCAs (Baseline Credit Assestment), the long-term rating and the Counterpart Risk Assessment of six Canadian banks and their affiliates.
3. The banks are: Toronto-Dominion Bank, Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Canada, National Bank of Canada, and Royal Bank of Canada.
4. CAD technical view.

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Read the article on our Key To Markets Blog

April jobs data (May 18) is the key driver to AUD in the coming week.

1. Consolidating at lower levels for three straight sessions.
2. AUDUSD technical's are extremely negative.
3. Ahead of the April jobs data, 0.7330 and 0.7280 are the key support level to be in focus.
4. In case of rebound, 0.7500/0.7525 is the initial target.

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Read the article on our Key To Markets Blog

WTI parallel resistance and 20DMA seems between 48.70 and 48.75

1. Oil snaps the three-week downtrend, off 10% from last weeks low.
2. Confidence jumps on production cut in the Mat 25th meeting.
3. Following OPEC monthly Oil Market Report, oil futures back to the broken trendline.
4. Parallel resistance on the daily chart in focus.

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Read the article on our Key To Markets Blog

DXY likely to rebound beyond 61.8% of 101.35-98.50 fall.

1. The dollar index retraced last week, helped by 50WSMA.
2. The dollar index retraces more than 61.8% in the last two occasions.
3. Has formed a five wave decline.

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Read the article on our Key to Markets Blog

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New Zealand total volume of retail sales rose 1.5% stronger-than-expected.

1. New Zealand Q1 total volume of retail sales rose 1.5%.
2. The total value of retail sales rose 2.6 percent
3. NZDUSD range bound trading expected over medium term.
4. Limited upside available over near term.

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Read the article on our Key To Markets Blog

USDJPY: limited downside available

1. The daily RSI and momentum indicators appear the price is peaking now.
2. The price likely to consolidate before claiming further headroom.
3. The price pause the rally at crucial resistance level.

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Read the article on our Key To Markets Blog

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BRENT: Parallel resistance seems between 52.40 and 52.60

1. Since touching an intraday low of 46.32$ (May 05), Brent oil price rebound more than 11%.
2. Overnight oil price extends the rally further 3%, support by comments from Saudi Arabia and Russia Brent oil price pauses the rally at 61.8% fib(April12-May 05fall).
3. Oil prices spiked after the energy ministers of Saudi Arabi and Russia jointly said that an OPEC-led crude production would be extended until March 2018.

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Read the article on our Key To Markets Blog

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EURUSD: Resistance zone remains between 1.1000-1.1030

1. Euro continued the upward trend following the election of Macron.
2. Focus is shifting to the central bank meetings in June.
3. Speculators are long EUR for the first time since May 2014.

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Read the article on our Key To Markets Blog

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EURGBP: upside remains capped between 0.8590/0.8600

1. EURGBP breakout through descending wedge on the four-hour.
2. UK economic data in focus.

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Read the article on our Key To Markets Blog

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USD sentiment is negative, breakdown confirmed.

1. Relentless dollar selling witness across the board.
2. Dollar index breakdown 1-year ascending trend line (weekly).
3. USDJPY, USDSGD and USDCHF approaching support levels.

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Read the article on our Key To Markets Blog

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To contact the author of this analysis, please email- [email protected], Skype id- jesanand

USDCHF Technical view

1. USDCHF gave a symmetrical triangle breakdown on the daily chart.
2. Immediate support finds between 0.9830 and 0.9800

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Read the article on our Key To Markets Blog

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To contact the author of this analysis, please email- [email protected], Skype id- jesanand

USDCAD retracement continues

1. USDCAD closed below 20DMA for the first time in 3-weeks.
2. The price gave a symmetrical triangle breakdown on the four-hour chart.
3. Support zone remains between 1.3600 and 1.3575.

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Read the article on our Key To Markets Blog

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To contact the author of this analysis, please email- [email protected], Skype id- jesanand

Bulls must breach above 1.0820

1. Commodity prices have been driving the cross, over the medium term in a narrow trading range
2. Climb above 1.0800 doesnt bring joy to bulls, but it brings lasting joy later on if settles above 1.0820

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Read the article on our Key To Markets Blog

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To contact the author of this analysis, please email- [email protected], Skype id- jesanand

Over a medium term, the upward momentum remains in play

1. Parallel resistance seems at 1264.
2. Gave an upside breakout through an ascending triangle.
3. Earlier in our earlier article (May 11th ), we recommended Bargain hunting expected

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Read the article on our Key To Markets Blog

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To contact the author of this analysis, please email- [email protected], Skype id- jesanand

BRENT: The height of coincidences is here

1. Brent price rejected twice at 100DEMA.
2. Trading range remains between 52.40 and 50.40.
3. What happens it Brent settles above 100DEMA?

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Read the article on our Key To Markets Blog

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To contact the author of this analysis, please email- [email protected], Skype id- jesanand

GBP: parallel resistance seems at 1.3060, bulls must close above 1.3000 to escape correction.

1. Met our 1st target.
2. Gold cross for GBPUSD.
3. Parallel resistance seems at 1.3060.

Read the article on our Key To Markets Blog

Read the article on our Key To Markets Blog

It is important to always keep in mind the risks involved in trading with leveraged instruments.
To contact the author of this analysis, please email- [email protected], Skype id- jesanand

What is your Technical View?

Do you have a different idea? Please leave us a comment and get an answer from our professional analysts.

It is important to always keep in mind the risks involved in trading with leveraged instruments.

What is your Technical View?

Do you have a different idea? Please leave us a comment and get an answer from our professional analysts.

To contact the author of this analysis, please email- [email protected], Skype id- jesanand

USDJPY trading range downgrades to 109.70-111.70 from 114.60-111.70

1. USDJPY retrace more than 61.8% (April-May rally).
2. Trading range downgraded to 109.70-111.70
3. Monthly gains wiped off.

Read the article on our Key To Markets blog

Read the article on our Key To Markets blog

It is important to always keep in mind the risks involved in trading with leveraged instruments.
To contact the author of this analysis, please email- [email protected], Skype id- jesanand

What is your Technical View?

Do you have a different idea? Please leave us a comment and get an answer from our professional analysts.

USDCAD trading between fib levels making a lower low and lower high pattern.

1. Thrice fails at 20DMA.
2. Gave a symmetrical triangle breakdown on the four-hour chart.
3. Canada March retail sales and April CPI in focus today.

Read the article on our Key To Markets Blog

Read the article on our Key To Markets Blog

It is important to always keep in mind the risks involved in trading with leveraged instruments.
To contact the author of this analysis, please email- [email protected], Skype id- jesanand

What is your Technical View?

Do you have a different idea? Please leave us a comment and get an answer from our professional analysts.