Invest in Forex and Commodities

26/08/2016

http://www.investing.com/analysis/usd:-will-yellen-disappoint-at-jackson-hole-200150104

26/08/2016

NZD/USD is trading lower today but can be only a temporary weakness; wave b) pullback as part of wave v-circled which may run up to 0.7360 -0.7400 area. In that zone we would expect a bearish turn in strong fashion because of an ending diagonal which is a reversal pattern.

26/08/2016

EUR/USD: Shift from bullish to neutral: In a 1.1190/1.1370 range.
GBP/USD: Bullish: Target 1.3370/75.
AUD/USD: Neutral: In a 0.7560/0.7690 range.
NZD/USD: Neutral: In a 0.7170/0.7350 range. [No change in view]
USD/JPY: Shift form bearish to neutral: In a 99.90/101.30 range.

As highlighted yesterday, unless EUR can move and stay above 1.1310/15, the bullish outlook would shift to neutral. While further EUR strength would not be surprising further out, the current price action

26/08/2016

An appetite for the euro or pound or a lack of one for the dollar? EURUSD has just run itself above both the Asia high and yesterday's high up to 1.1307. GBPUSD has also broken the overnight high but is looking less excited. They're not big moves at 17 pips in the euro and 15 odd in cable. The buck looks a touch weaker overall with losses in USDCHF and USDCAD against AUD. The Nikkei went out the door -1.18% on the day and -1.12% for the week.

26/08/2016

EUR/GBP Weekly Chart

EUR/GBP topped exactly at strong resistance at 8570/80 as predicted and is headed back to the 8540/30 level. This is only minor support so further losses are possible and target a buying opportunity at 8490/85, with stops below 8470.

A break lower however is a sell signal targeting 8460 and good support at 8430/25 with a low for the day expected if we reach this far.

Strong resistance at 8570/80 is the best chance of a high for the day again today, but shorts need stops above 8595. Holding above 8585 is a buy signal targeting 8615 then resistance at 8630/35.

26/08/2016

AUD/USD outlook negative but same levels apply for today with hardly any movement this week unfortunately. First support again at 7590/85. A break below here is more likely and is seen as a sell signal targeting 7550/45 but strong support at 7525/21 could hold the downside so we are profit taking on all remaining shorts on the approach to this area. HOWEVER longs are a little risky...if you try for a quick bounce, use a stop below 7490.

Resistance at 7630/35. Try shorts with stops above 7660. An unexpected break higher targets only minor resistance at 7685/90 then trend line resistance at 7720/25.
Aussie's Outlook Negative With Hardly Any Movement This Week

26/08/2016

USD/JPY first support at 100.30/25 held perfectly yesterday, but below here targets 9999/95. Further losses today could retest the August low at 99.55/53.

A break lower in the bear trend cannot be ruled out and could target important June lows at 99.12/08. Buying here on the hope of a double bottom is too risky. A break below 9890 targets 9850/46 then 9810/05.

Holding above first support at 100.25/30 targets quite strong resistance at 100.71/74. If a break higher is seen look for 101.10/15, perhaps as far as a selling opportunity at 101.40/45. Shorts need stops above 101.80.

26/08/2016

Germany’s Gfk consumer climate rose unexpectedly last month, data showed on Friday.

In a report, research group Gfk said that its index of Germany’s consumer climate rose to 10.2, from 10.0 in the preceding month.

Analysts had expected Gfk consumer climate to fall to 9.9 last month.

26/08/2016

Asia stocks wary, dollar slips before Fed Chair Yellen's speech

26/08/2016

Dollar wavers, poised for weekly gains ahead of Yellen speech

26/08/2016

Oil prices fall as Saudi Arabia dampens prospects of output freeze

26/08/2016

The dollar was lower Friday ahead of a much-awaited speech by Fed chair Janet Yellen.

The dollar index was down 0.13% at 03:00 ET. The greenback eased 0.06% to 100.47 yen.

Investors are keen to see if Yellen adopts a hawkish tone in her speech.

Fed member Esther George said Thursday it was time to gradually raise rates.

Revised U.S. Q2 data are due out before Yellen is due to speak at 10:00 ET.