Signals Articles

USDCAD oversold with a sell area above

Forex Analysis
USDCAD oversold with a sell area above

USDCAD, 240 min

USDCAD broke below an important support in yesterday’s trading. The 1.3640 to 1.3660 area had supported price in January and then twice February. This has caused the pair to be oversold in both daily and 4h timeframes. The intraday sideways price action suggests that the pair could rally from the current levels towards the aforementioned resistance area which also coincides with 38.2% Fibonacci retracement level (levels left out of the chart to improve readability).

As the daily trend is still lower we are looking for short entry signals inside the Sell Area (1.3625-1.3730) with the target areas at 1.3540 – 1.3580 (T1) and 1.3436 – 1.3475 (T2).

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

German consumer confidence surprised

Forex Analysis
German consumer confidence surprised

EURUSD, 60 min

German March GfK consumer confidence unexpectedly rose to 9.5 from 9.4 in the previous month. Expectations had been for a dip amid market turmoil and growing uncertainty about the economy outlook, but at least German consumers are more upbeat. This seems to be largely due to a sharp rise in personal income expectations in February, which offset slightly less optimistic business cycle expectations. The willingness to buy remained steady at very high levels and the willingness to save turned slightly less negative. A surprisingly good result, which is a reflection of a robust labour market and rising wages, although if overall business confidence declines further and orders and production don’t improve, this will also feed through the labour market and consumer confidence. Consumption alone can’t drive the recovery forever.

There was no notable impact on the EURUSD from the news. After finding support near my target 2 area (blue boxes refer to old targets that were reached) the pair is now trading near 50% Fibonacci level that coincides with a resistance at 1.1047 and the upper end of the price channel. In 60 min timeframe the pair is also overbought as per stochastic oscillator. This suggests the line of least resistance is down intraday today. The pair has also formed a daily pin bar which tells about daily downside momentum slowing down. However, the nearest resistance levels at 1.10700 aren’t far away. We might therefore see a rally attempt from levels near 1.0956 support and then weakness again between 1.1070 and 1.1136.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURGBP Analysis for 02.23.2016, U.K. Uncertainty Could Push the Pair Higher

Forex Analysis
EURGBP update, U.K. Uncertainty Could Push the Pair Higher

EURGBP, Daily

Eurozone Q4 GDP showed mild growth of around 0.3% Q/Q. Weak EU PMIs are putting some pressure on the EUR, while discouraging data is expected to continue from the Eurozone, which will keep ECB dovishness intact. The fact that the ECB is ready “to do more” to bring inflation back to target, means that traders will be seeking clues during the next monetary policy meeting in March. The question remains what exactly Draghi still has up his sleeve.

Yesterday, the GBP saw the biggest one day loss in 6 years on fears that the U.K. will leave the E.U. With uncertainty in the backdrop, we expect that further pressure on the GBP will prevail in the coming months before the June 23 referendum.

Technically, the short term EURGBP price trades above the tentative downward sloping trend-line and above its short term moving average (10 period). My conclusion is that the underlying trend is up, and I remain with long positions as long as price can hold above the 0.7700 area, for initial targets within the 0.7900 – 0.8000 zones.

Feb 22 EURGBP SRL

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

GBPUSD Analysis for 02.22.2016, Trading Lower on Brexit Fears

Forex Analysis
GBPUSD Update, Trading Lower on Brexit Fears

GBPUSD, Daily

A referendum has been announced for Jun-23, London mayor Boris Johnson yesterday said that he will be backing the ‘out’ campaign. The uncertainty ahead will be bad for business, with large companies now seen as supporting the “in” campaign, we expect GBP to underperform heading into the referendum.

Technically, the 1.4235 area looks to be an important price point to watch out for, a clean break below could open up the way for further downside pressure towards the 1.4080’s (January Lows). Current price is below the valid downward sloping trend line, as well as , its short (10) and medium term (50) moving averages. 1.4235 looks now to be a valid resistance level, my conclusion is to remain short as long as price can hold below 1.4235 for a 1.4080 target. However, traders should remain on alert to reverse short sales upon any potential price break back above 1.4235 for a potential bounce towards the 1.4530’s.

Feb 22 GBPUSD SRL

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURUSD Analysis for 02.18.2016: Target 1 reached!

Forex Analysis
EURUSD update: Target 1 reached!

EURUSD, 60 min

EURUSD short trade T1 was hit in today’s trading. I pointed out yesterday that as EURUSD is correcting lower after hitting resistance at 1.1300 plus levels and the price is making lower highs and lower lows the indications are bearish. The plan was to sell if my conditions for a short entry are met. This meant that we look for a rally inside my sell area between 1.1150 and 1.1180 and provide us with sell signals there we are looking to engage the short side with a view of covering the shorts at target areas.  Target 1: 1.1040-1.1085 and Target 2: 1.0965-1.1010.

Price indeed rallied to my Sell Area and after a brief attempt to rally higher EURUSD was in two occasions met with heavy selling and dropped lower. The pair didn’t go into the sell area but those ready as per my teachings in webinars were ready and made some pips. Price has now reached my first target area. Technical picture looks still bearish and favours short trades rather than longs. Therefore, I expect that after a pause, market will eventually penetrate my T1 area and continue towards my target two.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURUSD edging slowly lower

Forex Analysis
EURUSD edging slowly lower

EURUSD, 240

EURUSD is in a correction phase after topping and rolling over just above 1.1300. Today the pair has been edging lower near the lower 4h Bollinger bands and has failed to rally above 23.6% Fibonacci level. The lower highs and lower lows suggest that this market is weak even though it is trading at lower Bollinger bands. Dollar index looks like it is trying to break higher which confirms the bearish short term view for EURUSD. The 30 period SMA is about to cross below the 50 period SMA while oscillators are moving sideways near oversold levels.

60

EURUSD, 60 min

Price is creating lower highs and lower lows while faster moving average (30 period) is below the slower (50 period) and point lower. However, the Stochastics oscillator indicates oversold conditions together with the price being at lower Bollinger bands.

Conclusion:

As the pair is correcting lower after hitting resistance at 1.1300 plus levels and the price is making lower highs and lower lows the indications are bearish. Industrial Production numbers are out in a few minutes and might provide some volatility that we could use to sell the market. Provided the volatility isn’t too excessive. Should the price rally inside my sell area between 1.1150 and 1.1180 and provide us with sell signals there we are looking to engage the short side with a view of covering the shorts at target areas.  Target 1: 1.1040-1.1085 and Target 2: 1.0965-1.1010.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

USA500 Analysis for 02.15.2016, A Break above 1890 Could Restart Uptrend

Forex Analysis
USA500 update, A Break above 1890 Could Restart Uptrend

USA500 (S&P500), Daily

Recent U.S. reports defied the global financial panic, with retail sales through January that imply solid “real” spending growth. The Global fear of an economic downturn despite heavy commodity price declines and continued export price weakness is apparently not translating to weaker U.S. growth.

Technically, the S&P 500 (USA500) could reverse the recent global stock market sell-off providing we see a clean upward penetration of my 3rd fan line (see above chart). Resistance is spotted around the 1890.00 area. Additionally, a breakaway gap is spotted during the most recent trading day. My initial target zone is between the 50% – 61.8% (December high – January low retracement). My conclusion for the USA500 supports long positions above 1890 for targets within the 1948.00 – 2000.00 zone.

Feb 15 sp500 srl v5

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURAUD Analysis, 1.5610 1st Target Breached 1.5790 in Sight

Forex Analysis

 EURAUD Analysis, 1.5610 1st Target Breached 1.5790 in Sight

EURAUD update, 1.5610 1st Target Breached 1.5790 in Sight

EURAUD, Daily

The EURAUD pair continues to be in a recovery mode with my Febuary 3 target 1.5610 being breached today. Please see my post last (EURAUD Update) for futher details.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

USDJPY Analysis for 02.05.2016

Forex Analysis
USDJPY, update

USDJPY, 4 Hour

The U.S. unemployment rate fell to cycle lows of 4.9%, and hourly earnings rose more than expected. This could be view as a short term positive for the USD.

USDJPY price appears to be in a corrective recovery since sharply dropping from the recent highs near 121.70’s. Stochastic Analysis on the 4 hour chart supports short term long positions with a price target near the 118.15.

Feb 5 USDJPY SRL

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

US nonfarm payrolls: 151k

Forex Analysis
US nonfarm payrolls: 151k

EURUSD, 240 min

US nonfarm payrolls rose 151k in January following a 262k December increase (revised down from 292k) and a 280k November pop (revised up from 252k). The January payroll gain falls short of the 221k average for last year. The unemployment rate dropped to 4.9% from 5.0% previously. Private payrolls were up 158k, as the goods producing sector added 40k jobs, with construction up 18k and manufacturing up 29k. Jobs in the service sector rose 118k. Average hourly earnings climbed 0.5% from unchanged previously. The workweek increased to 34.6 hours from 34.5 hours.

Jobs number that comes in by over 100K below the previous figure would be a disaster in some other month but in January it is not that alarming. The drop is related to cyclicality in the US job market after hiring for Christmas employers are laying people off in January. This however, could add to cautiousness among the Fed bankers therefore strengthen the US dollar index which has resting at support. This obviously is bearish for EURUSD and Crude Oil. EURUSD is rolling over and trading at a minor support at 1.1147 while the next support levels are at 1.1102 and 1.0968.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.