11 Aug

Forex & Commodity Technical Analysis

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Daily Technical Analysis on 11 August 2016
Today’s Technical Pairs: EURUSD, GBPUSD, USDJPY, GOLD, and Brent-Crude Oil. EURUSD 
The euro strengthened when experts reassessed the possibility of the rate raise this year. The euro wipes out its losses and rallied higher. Buyers handled to advance the value from the 1.1050 region to the 1.1200 levels. The resistance level was at 1.1200, the support remains in 1.1130 levels.
The 50, 100 and 200 EMAs are creating a stiff range in the 4HR chart. The value is heading from the moving averages in the 4HR chart. If the pair does make a breakout at those 1.1200 levels, it is anticipated to grow to the level of 1.1270. Conversely, the gauge will decline to 1.1050 levels.
Sterling strengthened on the rear of the weak dollar. Pound recurred few of its losses, however, the pair stays under pressure. The technical scenario presents a bearish tone. Pound partly back its losses and grew to the mark level of 1.3100 where it twisted down. The current resistance finds in 1.3100, the support stands in 1.2900 levels.
Indicator RSI remains neutral. The value broke the 50 and 100 EMAs upsides and rebound from the 200-EMA in the 1HR chart. The gauge rolled back from the 50-EMA after reaching it in the 4HR chart. The 50, 100 & 200 Day EMAs are indicating decreases. The pair currently seems to be heading towards its immediate support levels close to 1.2900. Following breaking the level the path towards 1.2900 levels will be unlocked.
The USDJPY wipes out all its growth & traded at the session lows on yesterday. Markets doubt currently that the Fed will hike the rate this year. The yen grew promoted by the stocks failing together with positive Machinery Orders. The pair faced additional downside pressure. Dollar erased all its growth and headed rear towards local lows. Following the support touching at 101.00 levels the pair twisted up. The resistance lies at 101.40, the support stands in 100.40 levels.
Indicator RSI fell to the oversold region. The pair rebound from the 50-EMA and directed away from it in the 4HR chart. The 50-EMA gives a solid resistance in the 102.00 levels. The moving averages of 50, 100 and 200 driving downwards in the 4HR chart. The pair is below the pressure. The price might grow to the 102.00 levels where the 50-EMA lies. In the negative outlooks, the price rebound and falls towards 100.40 levels. In the picture where buyers take control the market grows to 102.50 levels.
Gold strengthened on yesterday on the rear of the weak dollar and reduced expectations that the Fed will have a rate hike in the next months. The pair had a moderately positive day on earlier. The yellow metal sharply rallied and put a fresh local high at 1356 where the pair twisted down and wipe out some of its growth. The resistance appears in 1350, the support seems at 1330 levels.
MACD is at the centerline, if the histogram enters the positive region, which will hints the buyers’ growing strength. If MACD turn back into the negative zone the sellers will take the market control. RSI rebound from the overbought zone. The value spiked from the 50-EMA in the 4HR chart. Nonetheless, it returned rear to the 50-EMA later the day. Currently the 50-EMA acts as a support for the gold. The 50, 100 and 200 EMAs are drifting upwards. The growing desire faded and the yellow metal returned to a decline. If the price stands under the 1357 levels instrument will constant its downward trajectory. Conversely, buyers will advance the price to the resistance levels at 1370.

Brent-Crude Oil
Brent lost regarding throughout the trades on last day when the US crude oil inventories unpredicted rose in the new week. The market sentiment swapped to the negative. Traders forced the oil futures lower and the gauge cleaned part of its gains by the end of trades. The resistance nearly at 45.30 levels, the support closes to 44.00 dollars per barrel.
All the indicators slightly modified from Wednesday. Both the indicator generates a sell signal. The 4HR chart shows that the value is now struggling with a bearish 100-EMA. The 100 and 200 EMAs are heading downside direction but the 50-EMA is still neutral. Brent is now below the risk of falling under the level of 44.00. Following smashes the mentioned level the path towards 42.80 will be unlocked.
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