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Thread: FXOpen Blog Technical Analysis

  1. #16
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    EURO TESTS KEY RESISTANCE AMID IMPORTANT ECONOMIC DATA

    Euro (EUR) extended upside movement against the US Dollar (USD) on Friday, increasing the price of EURUSD to more than 1.1300 amid some key economic releases. The technical bias remains bullish because of a Higher Low in the recent downside move on the daily timeframe.

    Technical Analysis

    As of this writing, the pair is being traded near 1.1318. A hurdle may be noted near 1.1376, the swing high of the last major upside rally ahead of 1.1400, the psychological number and then 1.1495, the swing high of the October 2015 as demonstrated in the following daily chart.

    read more at https://blog.fxopen.com/euro-tests-k...-economic-data
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    USDCAD POISED FOR BULLISH REVERSAL AMID MAJOR RELEASES
    The US Dollar (USD) extended upside movement against the Canadian Dollar (CAD) on Monday, increasing the price of USDCAD to more than 1.3050 following the release of some key economic news. The technical bias remains bullish in the long run because of a higher high in the recent upside rally on daily and higher timeframes.

    Technical Analysis

    As of this writing, the pair is being traded near 1.3055. A support may be noted around 1.2923, the intraday low of yesterday ahead of 1.2900, the psychological number and then 1.2831, the swing low of the last major downside move.

    read more at https://blog.fxopen.com/usdcad-poise...ajor-releases/
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    BITCOIN CONTINUES RANGE-BOUND TRADING

    For the past two weeks both Bitcoin and Litecoin have been stuck in a relatively tight ranges. Compared to last Tuesday, BTC/USD is down by only 1 percent, from $415 to $410.74. Litecoin is down by a larger 3 percent, from $3.28 to $3.18 dollars per coin. But let’s start with big brother and we’ll get back to LTC later in the article.

    Bitcoin Little Changed as Range Continues

    Like we noted above, Bitcoin is barely changed since last Tuesday. The total range during the past seven days is only $13.47 dollars, or just above 3 percent. On the chart below this range in marked with a yellow rectangle. As you can probably deduce the size of this range, no major levels were broken since our last BTC update.

    read more at https://blog.fxopen.com/bitcoin-cont...bound-trading/
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    CABLE RESUMES LOSING STREAK AFTER INFLATION NEWS
    The Great Britain Pound (GBP) extended downside movement against the US Dollar (USD) on Wednesday, dragging the price of GBPUSD to less than 1.4170 following the Britain’s consumer price index data which is considered a key gauge for inflation. The technical bias remains bearish because of a Lower High in the recent upside rally.

    Technical Analysis

    As of this writing, the pair is being traded near 1.4163. A support may be noted near 1.4052, the swing high of the last downside wave ahead of 1.4000, the psychological number and then 1.3946, the swing high of the last major downside move as demonstrated in the following daily chart.

    read more at https://blog.fxopen.com/cable-resume...nflation-news/
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  5. #20
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    PEERCOIN AND NAMECOIN BACK IN RANGE

    Both Peercoin and Namecoin settled back into a trading range this week. Peercoin is currently trading at $0.472 dollars, down 3.7 percent since Thursday. Namecoin had a wild ride this week, first falling to a low of $0.434 before rallying over 13% today alone. We are currently quoted at $0.496, up 5 percent since last Thursday.

    Peercoin Ends Fragile Uptrend

    Peercoin ended its fragile uptrend this week. While we didn’t get a decisive break below 45 cents (prices dipped briefly to $0.447 dollars), the loss of momentum pushed prices back into range-bound territory. Let’s take a look at some levels.

    read more at https://blog.fxopen.com/peercoin-and...-back-in-range
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  6. #21
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    USDJPY RECORDS SIXTH CONSECUTIVE INTRADAY GAIN
    The US Dollar (USD) extended upside movement against the Japanese Yen (JPY) on Friday, increasing the price of USDJPY for the sixth day in a row to more than 113.00 following the release of some key economic news. The technical bias however remains bearish because of a Lower Low in the recent downside move.

    Technical Analysis

    As of this writing, the pair is being traded near 113.13. A support may be noted near 112.22, a major horizontal support ahead of 110.66, the swing low of the last major downside move as demonstrated in the following daily chart.

    read more at https://blog.fxopen.com/usdjpy-recor...intraday-gain/
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  7. The Following User Says Thank You to Dangerous For This Useful Post:

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    KIWI DOLLAR EYES KEY SUPPORT AHEAD OF BULLISH REVERSAL
    The New Zealand Dollar (NZD) inched higher against the US Dollar (USD) on Monday, during the Asian session, increasing the price of NZDUSD to more than 0.6880 as the new week kicks off. The technical bias remains bullish because of a Higher High in the recent upside rally.

    Technical Analysis

    As of this writing, the pair is being traded near 0.6687, a hurdle may be noted near 0.6694-0.6700, the confluence of psychological number as well as a major horizontal resistance ahead of 0.6773, the high of March 11 as demonstrated in the following daily chart.

    read more at https://blog.fxopen.com/kiwi-dollar-...llish-reversal
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  9. #23
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    BITCOIN SPIKES ON EASTER SUNDAY
    It’s been a wild few days in bitcoin land, at least when compared to the previous period of calm. Prices initially spiked $11 on low volume during Easter Sunday. Today saw all those gains evaporate and then some. This pattern was repeated in LTC as well. After an inital spike to $3.30, prices are back to their starting point at $3.18 dollars per coin.

    Bitcoin Spikes on Easter

    As noted above, BTC/USD spiked on Easter Sunday. The move looks like a classic breakout on low volume. The false break was confirmed when prices retraced heavily today, erasing all the gains. We are currently quoted at $412.60 dollars, even below yesterday’s open at $415.50.

    read more at https://blog.fxopen.com/bitcoin-spik...ster-retraces/
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  10. #24
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    NZD/USD POISED FOR BEARISH REVERSAL AFTER YELLEN’S REMARKS
    The New Zealand Dollar (NZD) extended upside movement against the US Dollar (USD) on Wednesday, increasing the price of Kiwi Dollar to more than 0.6800 following some key economic events particularly the Fed chief Jannet Yellen’s dovish remarks.

    Technical Analysis

    As of this writing, the pair is being traded near 0.6848. A hurdle may be noted around 0.6883, the intraday high of today ahead of 0.6897-0.6900 which is the confluence of last major upside rally on the weekly chart as well as psychological number. A break and daily closing above the 0.6900 resistance area could push the pair into a stronger bullish trend, validating a move towards the 0.7000 handle.

    read more at https://blog.fxopen.com/nzdusd-poise...llens-remarks/
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  11. #25
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    CRYPTO CONSOLIDATION CONTINUES
    Most major cryptocurrencies have been range-bound for the past two weeks. This consolidation is still ongoing. While Peercoin is testing an important support, it hasn’t broken it yet. Namecoin on the other hand is still firmly in its range.

    Peercoin Testing Support

    Alternative cryptocurrency Peercoin is testing the important support level at $0.447. We are currently quoted only 0.1 cent below at $0.446 dollars per coin. On the chart below we can see that since the start of this week PPC/USD has resumed the downward slide and is back to testing the support for the past few hours.

    read more at https://blog.fxopen.com/crypto-consolidation-continues/
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    EUR/USD LOOKS SET FOR A CORRECTION
    The Euro (EUR) extended upside movement against the US Dollar (USD) on Friday, increasing the price of EURUSD to more than 1.1375 following some key economic releases. The technical bias remains bullish because of a Higher High in the ongoing wave.

    Technical Analysis

    As of this writing, the pair is being traded near 1.1377. A support may be noted near 1.1338, a major horizontal support ahead of 1.1300, the psychological number and then 1.1144, the swing low of the recent downside wave as demonstrated in the following daily chart.

    read more at https://blog.fxopen.com/eurusd-looks...-a-correction/
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  13. #27
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    GOLD IS BULLISH DESPITE BETTER THAN EXPECTED NONFARM PAYROLLS
    The price of gold extended downside movement on Monday, dragging the price of yellow metal to less than $1229 following the nonfarm payrolls release on Friday. The technical bias remains bullish in the short term because of a Higher Low in the recent downside move on the four-hour timeframe.

    Technical Analysis

    As of this writing, the precious metal is being traded near $1218. A support may be noted around $1208, the swing low of the recent downside wave as well as intraday low of Friday ahead of $1200, the confluence of psychological number as well as horizontal support.

    read more at https://blog.fxopen.com/gold-is-bull...farm-payrolls/
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    BITCOIN HIGHER BUT NO TRENDS IN SIGHT

    Bitcoin is trading higher today but we’re still far from declaring a new uptrend. Prices hit $420.95 early in the day before backing down somewhat. Litecoin isn’t having as good of day however. Prices are down slightly after bitcoin’s little brother erased the earlier gains.

    Bitcoin Prices Hit $420.95

    As noted above, BTC prices hit a high of $420.95 before easing to 417.51. We are currently quoted at $418.11, about 60 cents from the lows. On the chart below we can see that while BTC/USD had some gains in the past few days, we’ve yet to stage a brakeout.

    read more at https://blog.fxopen.com/bitcoin-high...ends-in-sight/
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    PEERCOIN, NAMECOIN TEST SUPPORT LEVELS

    The general consolidation in the crypto-market is still ongoing. But while BTC is making tentative gains, both Peercoin and Namecoin are drifting lower and testing important support levels. Let’s start with PPC and we’ll get back to Namecoin later on.

    Peercoin Testing Support

    Peercoin is still testing the important support level near $0.447 dollars per coin. In the past seven days PPC/USD hit a low of $0.444 dollars but that’s where the small losses ended.On the chart below we can see how the bears have been constantly attacking this support area during the past few weeks.

    read more at https://blog.fxopen.com/peercoin-nam...upport-levels/
    Last edited by Dangerous; 04-07-2016 at 10:52 AM.
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  16. #30
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    AUDUSD SLIDES DOWN AFTER UPBEAT US JOBLESS CLAIMS DATA
    The Australian Dollar (AUD) extended downside movement against the US Dollar (USD) on Thursday, dragging the price of AUDUSD to less than 0.7500 before inching higher moderately on Friday during the Asian session. The technical bias remains bullish because of a Higher High in the recent upside rally.

    Technical Analysis

    As of this writing, the pair is being traded near 0.7528. A support may be noted near 0.7491, the intraday low of yesterday ahead of 0.7400, the psychological number and then 0.7367, a major horizontal support as demonstrated in the following daily chart.


    read more at https://blog.fxopen.com/audusd-slide...ss-claims-data
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