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EURUSD Bulls Finally Did It. Break 1.0635 Area.The EURUSD bulls finally did it. After several failed attempts to breach the 1.0635 area, Friday’s late session surge put the single currency well above the mark. Yes, there was some profit taking into the close, but that isn’t abnormal especially given Friday’s 130 pip rally. At the end of the day, the pair still managed a close above the 1.0635 handle, which turns our attention higher this week. With that said, there was a minor resistance level that came into play just before the weekend. The 1.0680 area has acted as a pivot of sorts since January 26th. It also played a role in capping the January 12th advance. The tight range between 1.0635 and 1.0680 makes playing Friday’s break more difficult. Sure, you could buy on a retest of 1.0635 as new support, but a target of just 45 pips isn’t very appealing. As such, I’ll stand aside for now and see what comes of last week’s breakout. The close above 1.0635 leaves me cautiously bullish for now, but I need to see more from buyers before I’m willing to consider an entry. This Wednesday is the highly anticipated Fed rate decision and statement. The events kick off at 2 pm EST and are sure to stir things up for the U.S. dollar, so tread carefully if you plan to take on USD exposure. Also, Draghi speaks on Monday at 9:30 am EST. Check the upside technical analysis. Performed by analytical expert: Urban Stamcar
by SvetInvesticij
USDJPY Teeters on 115.10 Following NFP - Bearish Pin Bar However, with the 115.10 handle still intact, I decided to remain on the sideline. I also didn’t want to enter in front of yesterday's non-farm payroll report. The 115.10 area has served as a pivot since January 6th. It’s also the 50% retracement from the December 2016 high to the current 2017 low. So far, the reaction from yesterday’s events is mixed, and the jury is still out. The moments following the NFP report and average hourly earnings, market participants seemed to favor the U.S. dollar. But those gains were short-lived. As is the case with any high-impact event such as NFP, momentum can shift in a matter of minutes. This is one reason I urge caution to those who like to trade market-moving events like these. In fact, the best course of action is to take no action until the dust settles. Bearish pin bar from the zone 115.10, that was forming yesterday, can may pust a price lower to test a trend line at price 114.20. Check the upside technical analysis. Performed by analytical expert: Urban Stamcar
Short
by SvetInvesticij
USDCAD: Bearish pinbar formation Technical analysis: USD/CAD is expected to trade with bearish bias next week. Bearish pinbar formed as double top from the 20.1.2017 Trend line from January last year holding as resistance, we have already resistance trend line from the 25.5.2016 Zoomed chart (H4) showing broken trend line with H4 bearish outside bar. If we zoomed a little bit more (H1) there is a strong hidden MACD (Moving Average Convergence Divergence) divergence, H1 trend line is already broken with bearish pinbar. Looking for bearish opportunity from the RN (round number) 1.34000 left eye of D1 pinbar & retest of H4 / H1 broken trend line with a stops some pips above D1 pinbar 1.3445 (45 pips). First potential target area is 0.50% fibonacci retracement from the swing low 1.29673 and already demand zone 1.32000 (200 pips). Reward to risk is calculated as 4.4:1.0 Fundamental analysis: Be careful this week expected a lot of volatile on the market -Wednesday,Mar 08 Housing Starts s.a (YoY)(Feb) 14:15 GMT+1 -Thursday,Mar 09 New Housing Price Index (YoY)(Jan) 14:30 GMT+1 -Thursday,Mar 09 New Housing Price Index (MoM))Jan) 14:30 GMT+1 The most important -Friday,Mar 10 Nonfarm Payrolls 14:30 GMT+1 (Forecast 190K jobs) Last month United States employed much more people then expected, forecast was 175K jobs but acual was 227K jobs. This month we expected 172K jobs, forecast for this month is 190K. Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. Performed by analytical expert: Urban Stamcar
Short
by SvetInvesticij