Key To Markets - Support

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DXY: Daily RSI and oscillator indicates downward pressure depreciated.

1. May US payrolls scheduled this Friday.
2. On the hourly chart, the DXY gave an upside breakout.
3. On a bearish scenario 96.50 its 61.8 % (May-Jan rally) is the immediate support available.

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Read the article on our Key To Markets Blog

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GBPUSD: Trading range remains between 1.2730/1.2700 and 1.3000 levels.

1. The combination of UK Bank holiday today and the oversold RSI/oscillator, might pause the selling pressure.
2. Before retrace to sub 1.28 the cable made a double top and confirmed the distribution pattern.
3. The price has parallel support finds at 1.2750 below this 1.2730 it's 50DMA exists.

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Read the article on our Key To Markets Blog

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BRENT- Wait for a dip to buy.

1. After OPEC output cut decision, focus shifts to inventories.
2. Net long crude oil positions picked up after four consecutive weeks of net selling.
3. The parallel support zone remains between 50.80 and 50.40.

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Read the article on our Key To Markets Blog

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EURUSD- Fell below the 100 pips trading range, what to watch now.

1. We forecast near-term depreciation
2. May inflation in the Eurozone (May 31), and the US May labour market report are key triggers.
3. Funds reduced their overall net EUR short positions, the lowest since May 2014.
4. EUR has potential support zone remains between 1.1100/1.1050.

Read the article on our Key To Markets Blog

Read the article on our Key To Markets Blog

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EURGBP: Over medium term trading range remains between 0.8800 and 0.8400.

1. Fails at five-months descending trendline line.
2. Major trigger event scheduled following week.
3. The cross has been moving higher on a negative divergence.

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Read the article on our Key To Markets Blog

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USDSGD: Bullish developments extended

1. Spotted with a triple bottom on a weekly chart and double bottom on four-hour chart
2. The daily RSI and oscillator appear bullish, downside risk limited.
3. The cross spotted with a wedge.

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Read the article on our Key To Markets Blog

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GBPUSD rejected at a supply zone, forecast on Monday's article.

1. Latest YouGov poll, showing Theresa May could lose the majority.
2. GBP slides more than half a percent on early Wednesday session against USD,
3. Supply zone remains between 1.2880-1.3000.

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Read the article on our Key To Markets Blog

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USDJPY consolidating in a narrow range, trend casts on NFP

1. USDJPY slips below six-week symmetrical triangle.
2. Support zone remains between 110.20-109.80.
3. Trading range remains between 112.20-110.00/109.80

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Read the article on our Key To Markets Blog

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USDCHF- consolidating in a narrow range led by higher low and higher high pattern.

1. Trading range remains between 0.9830 and 0.9700.
2. Over the medium term, support zone remains between 0.9680 and 0.9660 below this 0.9635 exists.
3. The daily RSI and oscillator remain bullish

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Read the article on our Key To Markets Blog

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EURJPY: Developing multiple bearish factors

1. Spotted with a double top.
2. Erases the five-week ascending trendline.
3. Ascending triangle formation spotted.

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Read the article on our Key To markets Blog

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NZDUSD: Rose nearly 4% in May, consolidating at 0.7100 level.

1. NZ Overseas trade rose 5.1 percent in the March 2017 quarter, reaching its highest level since June 1973.
2. NZD holds highest in a month against USD, likely to trade in a descending wedge over the medium term.
3. We initiated a buying trade for 0.7050 cross surpass the target high was 0.7120.

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Read the article on our key To markets Blog

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Brent: We forecast wait for a dip to buy and remain to the same.

1. For the month of May, Brent fell nearly 3% and WTI fell 2%
2. Brent spotted with a bearish H&S pattern.
3. RSI and oscillator are making higher low

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Read the article on our Key To Markets Blog

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USDCAD: CAD shorts were pared for the third consecutive week from record shorts.

1. Symmetrical triangle breakout visible.
2. Erases a month falling channel.
3. ADP and NFP in focus.

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Read the article on our Key To markets Blog

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DXY: Bulls must propel above 98 to escape further correction.

1. May proved to be a very strong month for job growth.
2. US data Review&Preview.
3. Basing in process, corrective rebound possible above 98.

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Read the article on our Key To Markets Blog

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USDJPY: Calls for maximum thrust to climb 100DEMA.

1. USDJPY held 61.8% (114.36-110.23 fall) on the other week
2. Printed a higher swing on the four-hour chart
3. Resistance next in line seems at 111.75 100DEMA

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Read the article on our key To Markets Blog

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Risk reward favors short EURGBP

1. Markets are too positive EUR and have turned too negative GBP.
2. EUR was fully priced for ECBs forward guidance in its June meeting.

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Read the article on our Key To Markets Blog

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Brent: Potential support finds at 48.50 and 47.70.

1. Hedge funds raised bullish wagers
2. We forecast an inverted H&S pattern on the daily RSI.
3. The price tested our potential support finds at 48.50

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Read the article on our Key To Markets Blog

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EURGBP- Remain under pressure in the run-up to the 8 June elections.

 

1. After six consecutive weeks of buying, funds finally turned net sellers of GBP
2. EURGBP fails to breach the upside parallel resistance and spotted with a double top

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Read the article on our Key To Markets Blog

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EURUSD- Most of the dollar selling was against the EUR.

1. Over medium term the 20-month average likely to act as a pivotal for the current uptrend.
2. EURUSD ran into resistance zone seems between 1.1270 and 1.1300.
3. The daily RSI and oscillator remain bearish, appears upside risk is limited.

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Read the article on our Key To Markets Blog

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Brent: Symmetrical triangle breakout visible.

1. Brent oil erased two-week falling channel.
2. Symmetrical triangle breakout visible.
3. Spotted with a triple bottom.
4. We forecast a rebound for 49.50 but price exceeds.

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.

What is your Technical View?

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