20 May

Forex & Commodity Daily Technical Analysis on 20th May 2016

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Daily Technical Analysis on 19th May 2016

Technical Pairs: EURUSD, GBPUSD, USDCHF, USDJPY, XAUUSD, & WTI-Crude Oil

 

EURUSD 

In the Bonds marketplace the Ten-year German government bonds return reduced which decreased the attractiveness of the European benefits. ECB released its protocols. The issued ECB minutes might not support the euro.
The 1st support stands at the level of 1.115 & after those 1.104 levels. The 1st resistance remains at 1.126 levels, the other one is at 1.135 levels.
It’s a definite & a muscular sell signal. MACD sign is in a negative region. The price is prospecting. Following the support level of 1.1150 developments down the way to the support 1.104 levels will be unlocked.
 

GBPUSD

The volume of Retail Sales in the UK will rise last month more than predicted 1.3 percent vs. expectations 0.5 percent. Experts anticipated the index to rise by 0.5 percent earlier month.
The value is verdict the 1st support at 1.456 levels, other one is at the level of 1.448. The value is verdict the 1st resistance at the level of 1.467, after those 1.476 levels. It’s an established & a burly buy signal. The value is increasing. The buyers consider breaking over 1.467 levels for a constant growth. The method to the mark 1.476 levels will be unlocked after this breakthrough.
 

USDCHF

The Swiss investor attention was conducted to the US statistics amid an empty macroeconomic calendar. The US released primary Jobless Claims report was 278k vs. predictions 275k. The US data of Philadelphia Fed Manufacturing Survey was -1.8 vs. expect 3.5. The price is verdict the 1st support at 0.985 levels, the next level was 0.975. The price is verdict the 1st resistance at 0.994 levels, the next level is at 1.002.
It’s a non-confirmed & a well-built buy signal. We caution to long with the 1st target level was 0.994. When the pair builds-up on top of the 1st target, we can unlock deals to the next level of 1.002.
 

USDJPY

Machinery Orders will rise more than anticipated of 5.5 percent vs. earlier -9.2 percent. The two-year Treasury bonds capital reached the peak level from March. The value of 1st support remains at 109.8, the other level was 109. The value of 1st resistance stands at 110.6 levels, after those 111.4 levels.
It’s a definite & a muscular buy signal. The value is prospecting. The potential bounce back target was support levels of 110.6 & 111.4.
 

XAUUSD-Gold

Gold markets initially fall down during the day on yesterday, but found suitable support under the level of 1250 to twist things back over & form a bit of an anchor. The anchor of course is a positive indication, so if we can smash over the top of it might be a nice buying chance. The market place would then touch towards the 1300 level given suitable time.
 

WTI-Crude Oil

WTI Crude Oil market place fell primarily throughout the last day, but twisted over to shaping a hammer. The hard hammer definitely is a very bullish position & we have been in a bullish bounce latterly. For the reason of this, I consider that we are going to sustain to go superior, & on a crack over the top of the hard hammer the 50 levels will more than acceptable targeted. We might need to build up an important value of momentum to finally smash over there, so this might be something that needs quite a few attempts to actually appear. We are bullish; at present we are not interest in selling. 
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