Month: August 2017

EURUSD could face some headwinds through the round figure 1.2000

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EURUSD could face some headwinds through the round figure 1.2000

As expected, the EURUSD pair continued to move higher due to dollar weakness that was carried over from Friday. This weakness in the dollar has been due to the failure of Yellen to address monetary policy during her speech on Friday and also due to the fact that Draghi also did not choose the address to talk anything about the strong euro in his speech as well. In the past, European officials have been known to talk down the Euro if they see it appreciating too much. Draghi also spoke…

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Support and Resistance Levels – 28-Aug-2017

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Support and Resistance Levels – 28-Aug-2017

These are the observed support and resistance levels as of now for the following pairs. Time: 9:40 GMT EURUSD LEVELS 1.2040 1.2000 1.1970 1.1935 1.1890 1.1890 1.1865 1.1830 REMARKS Resistance Resistance Resistance Last Pivot Support Support Support USDJPY LEVELS 110.05 109.80 109.55 109.15 109.55 108.80 108.55 108.25 REMARKS Resistance Resistance Resistance Last Pivot Support Support Support GBPUSD LEVEL 1.2990 1.2950 1.2915 1.2890 1.2865 1.2865 1.2840 1.2815 REMARKS Resistance Resistance Resistance Last Pivot Support Support Support USDCHF LEVEL 0.9660 0.9615 0.9595 0.9541 0.9595 0.9495 0.9455 0.9430 REMARKS Resistance Resistance Resistance Last…

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Gold Price forecast for the week of 28-August-2017

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Gold Price forecast for the week of 28-August-2017

Last week saw Gold trading in a tight range as the market waited for the comments from Fed Chair Yellen and ECB President Draghi. As Yellen did not give any clues of the monetary policy, Gold prices rose on Friday. Therefore the main fundamental factors diving the price of Gold at this time around are the fundamentals of US Dollar. As the economic data from US has been generally weak, US Dollar has extended its losses across the board. However, on the technical side, we have to note that Gold…

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USDCAD forecast for the week of 28-Aug-2017

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USDCAD forecast for the week of 28-Aug-2017

Fundamental Analysis A hawkish BOC and strong data from Canada has helped Canadian Dollar to remain steady. The pair fell sharply after Fed Chair Yellen failed to deliver any support to the US Dollar as she refused to give any hint of the monetary policy. Strong oil prices also give additional support to the Canadian Dollar. Additionally, if the incoming data fro Canada continues to be strong, it could encourage BOC to consider hiking rates again. In the coming week, if Canadian GDP data beats the expectation or if the…

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EURUSD forecast for the week of 28-Aug-2017

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EURUSD forecast for the week of 28-Aug-2017

Fundamental Analysis EURUSD pair consolidated for the most part of last week until the comments given by Yellen and Draghi on Friday. The markets awaited in anticipation of the meeting at Jackson Hole, looking for clues from the central bank heads, of the monetary policy ahead. The markets expected Yellen to be hawkish to give some boost to the greenback. However she chose not to give such clues. The Dollar in turn weakened across the board sending the pair to the region around 1.1870 Even though Draghi did not say…

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