Ichimoku indicator analysis of USDX for September 26, 2017

Trading 26 sept 2017 Commentaire »

The Dollar index is testing important short-term resistance and previous high at 92.70. Trend is bullish. 93 is an important resistance level.

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Red line - resistance (broken)

Blue line - previous high horizontal resistance

The Dollar index is trying to break above the previous highs at 92.70. Price back tested the cloud support and has reversed higher and is now ready to break to new short-term highs. Important support remains at 91.80.

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Red lines - bearish channel

On a daily basis we consider that the Dollar index is making a bounce that has first important resistance at 93 and next at 93.70. Both targets can be met but I believe we will first see below 91, before a bigger bounce. Short-term trend is bullish but medium-term trend remains bearish. Breaking below 91.80 will open the way for a move towards 90 or lower.

The material has been provided by InstaForex Company - www.instaforex.com

Ichimoku indicator analysis of gold for September 26, 2017

Trading 26 sept 2017 Commentaire »

Gold price has broken out of the bearish channel yesterday as we expected. Price has stopped right below the 4-hour Kumo and shows signs of rejection. However I believe the next leg up towards $1,400 has started.

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Red lines - bearish channel

Gold price has reached the 4-hour Kumo (cloud) after breaking the bearish channel. Price has stopped right at the resistance and is pulling back. Short-term support is at $1,301. Resistance is at $1,316.

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On a daily basis Gold price has bounced as expected and stopped right at the daily tenkan-sen (red line indicator) resistance. Price needs to move above $1,316-20 level in order for bulls to feel more confident. I believe Gold has made an important low at $1,288. Breaking below that level will open the way for a move towards $1,270-60.The material has been provided by InstaForex Company - www.instaforex.com

Australia Consumer Confidence Falls Slightly

Trading 26 sept 2017 Commentaire »

Australia's consumer confidence dropped slightly during the week ended September 24, after strengthening in the previous week, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed Tuesday.

The consumer confidence index fell to 114.1 from 114.8 in the preceding week.

The moderation in confidence was driven by a solid decline in views towards future economic conditions, which was somewhat offset by an increase in the 'time to buy a major household item' index.

Inflation expectations were unchanged at 4.4 percent on a four-week moving average basis.


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Elliott wave analysis of EUR/NZD for September 26, 2017

Trading 26 sept 2017 Commentaire »

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Wave summary:

We continue to look for more upside pressure above 1.6451 for a continuation higher towards 1.6875 and above. Short-term support at 1.6288 ideally will be able to protect the downside for the expected rally higher, but a break below here will indicate that an expanded flat correction is unfolding as red wave ii/ towards 1.6218 before turning higher in red wave iii/ towards 1.6690 and higher towards 1.6875.

R3: 1.6488

R2: 1.6451

R1: 1.6385

Pivot: 1.6350

S1: 1.6317

S2: 1.6288

S3: 1.6237

Trading recommendation:

We are long EUR from 1.6265 and will move our stop to break-even. If our stop is hit we will re-buy EUR at 1.6230 and place our stop at 1.6130.

The material has been provided by InstaForex Company - www.instaforex.com

NZ Dollar Falls Against Majors

Trading 26 sept 2017 Commentaire »

The New Zealand dollar weakened against other major currencies in the Asian session on Tuesday.

The NZ dollar fell to near 2-week lows of 0.7236 against the U.S. dollar and 80.76 against the yen, from yesterday's closing quotes of 0.7263 and 81.15, respectively.

Against the Australian dollar, the kiwi dropped to a 6-day low of 1.0976 from yesterday's closing value of 1.0921.

The kiwi edged down to 1.6385 against the euro, from yesterday's closing value of 1.6309.

If the kiwi extends its downtrend, it is likely to find support around 0.70 against the greenback, 79.00 against the yen, 1.11 against the aussie and 1.66 against the euro.


The material has been provided by InstaForex Company - www.instaforex.com

Elliott wave analysis of EUR/JPY for September 26, 2017

Trading 26 sept 2017 Commentaire »

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EUR/JPY - Weekly

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EUR/JPY - 4 Hourly

Wave summary:

The break below minor support at 133.24 was the first good indication that wave (D) has completed prematurely and wave (E) now is developing. A break below support at 131.70 will add confidence in this count, while a break below the support-line near 131.10 will confirm the count and look for more downside pressure in wave (E), ideally close to support at 117.72. This should complete the huge triangle that has been developing since July 2008 for a strong rally above 134.41.

R3: 134.24

R2: 133.46

R1: 132.52

Pivot: 132.00

S1: 131.70

S2: 131.10

S3: 130.56

Trading recommendation:

Our stop at 133.15 was hit for a profit of 139 pips. We will be looking for a new selling opportunity.

The material has been provided by InstaForex Company - www.instaforex.com

New Zealand Business Confidence At 2-Year Low: ANZ

Trading 26 sept 2017 Commentaire »

Business confidence in New Zealand weakened to the lowest level in two years in September amid political uncertainty, the latest survey from ANZ Bank showed Tuesday.

The business confidence index plunged to 0.0 in September from 18.3 in August. Moreover, this was the lowest level since September 2015.

Among components, activity, employment and investment expectations all remained at healthy levels, though peaks had pared back.

"Some of the paring back may reflect a maturing business expansion, but we're more inclined to put the move down to political uncertainty," Cameron Bagrie, chief economist at ANZ Bank, said.

The survey was taken in early September, before the election took place.

Activity outlook also dropped to 29.6 in September from 18.3 in the preceding month.


The material has been provided by InstaForex Company - www.instaforex.com

*ADB Forecasts Developing Asia To Grow 5.9% In 2017, 5.8% In 2018

Trading 26 sept 2017 Commentaire »

ADB Forecasts Developing Asia To Grow 5.9% In 2017, 5.8% In 2018


The material has been provided by InstaForex Company - www.instaforex.com

*NZ Dollar Drops To 6-day Low Of 1.0976 Against Australian Dollar

Trading 26 sept 2017 Commentaire »

NZ Dollar Drops To 6-day Low Of 1.0976 Against Australian Dollar


The material has been provided by InstaForex Company - www.instaforex.com

*NZ Dollar Edges Down To 1.6385 Against Euro

Trading 26 sept 2017 Commentaire »

NZ Dollar Edges Down To 1.6385 Against Euro


The material has been provided by InstaForex Company - www.instaforex.com