http://forex-pak.com/forum.php?referrerid=34577

Forex Forum, Rahim Yar Khan, Rahimyar Khan (2026)

16/02/2016

Technical analysis of EUR/JPY for Febuary 16, 2016 2016-02-16
General overview for 16/02/2016:

The intraday resistance at the level of 128.28 has not been broken yet, and the market is testing the golden trend-line support now. In case of a breakout, the next intraday support is seen at the level of 128.28. The market is still treading inside of the bearish zone, but the current count in the bigger time frames still indicates a possible upward wave progression as a low for the wave B cycle seems to be in place. This would mean the market still needs to make one more wave to the upside, big-cycle wave C blue, to complete the bigger-time-frame corrective cycle.

Support/Resistance:

125.02 - WS1

125.73 - Intraday Support

127.98 - Weekly Pivot

128.26 - Intraday Resistance

130.13 - WR1

133.09 - WR2

Trading recommendations:

Day traders should refrain from trading and wait for a better trading setup to occur in the nearest term.

16/02/2016

Technical analysis of USD/CAD for Febuary 16, 2016 2016-02-16
General overview for 16/02/2016:

The level of 1.3782 has been marginally broken, but there is no extension to the downside so far. There is still a possibility however that a breakout below this level might extend the C purple wave down to the next support at 1.3637. Nevertheless, the abc purple corrections looks completed and the market might reverse any time now. To confirm this bullish progression to the upside, the price should break out above the golden trend line at least.

Support/Resistance:

1.3637 - Local Low

1.3648 - WS2

1.3746 - WS1

1.3782 - Intraday Resistance

1.3873 - Intraday Resistance

1.3880 - Weekly Pivot

1.3972 - WR1

1.4014 - Technical Resistance

1.4108 - WR2

Trading recommendations:

Buying on dips in this market is a proper way to trade as the uptrend is still in play. The corrective cycle is violating the support levels, but the most important support at the level of 1.3637 hasn't been broken yet. Bulls are still in control in this market, but no confirmation of a bullish reversal has been recieved yet.

16/02/2016

Technical analysis of Silver for February 16, 2016 2016-02-16
Technical outlook and chart setups:

Silver dropped lower to $15.12 during today's early trading hours before pulling back. Please also note that metal is bouncing off Fibonacci 0.382 support of a rally between $14.00 and $15.90. The metal dropped in 5 waves from $15.90 through $15.12, as seen here. A corrective rally is expected to unfold in 3 waves towards $15.60/70 at least. It is hence recommended to go long now with risk just below $15.10 targeting at $15.60. Immediate interim support is seen at $15.12, while resistance is found at $15.90. Please note that an up gartley is expected to unfold now.

Trading recommendations:

Remain long now with stop below $15.10, a target is at $15.60. Look for an opportunity to reverse.

Good luck!

16/02/2016

Technical analysis of Gold for February 16, 2016. 2016-02-16Technical outlook and chart setups:

Gold prices lost almost $70.00 compared to its February 11 high of $1,263.00. The metal is trading at the level of $1,196.00 now after hitting interim lows at $1,190.00 during today's early trading hours. Please note that the yellow metal has turned from Fibonacci 38% support of the rally between $1,070.00 and $1,263.00 as well. It is hence recommended to turn bullish now with risk just below $1,190.00. The metal is expected to rally through at least $1,235.00/40.00 before turning lower again. Immediate interim support is seen at $1,190.00, while resistance is seen at $1,263.00. A corrective rally might be materializing now.

Trading recommendations:

Remain long now with stop below $1,190.00, a target is at $1,235.00. Then look for an opportunity to turn lower again.

Good luck!

16/02/2016

Technical analysis of EUR/JPY for February 16, 2016 2016-02-16Technical outlook and chart setups:

The EUR/JPY pair is reversing sharply lower after hitting intraday highs of 128.16. The pair is producing an engulfing bearish candlestick pattern in the H4 chart as seen here. Also, please note that the pair has hit resistance at a 38% Fibonacci ratio as well. Structurally, the pair is now expected to drop lower below the level of 125.75. It is hence recommended to remain short now with risk at 129.00. Immediate interim resistance is seen at 128.20, while support is at 126.35. Bears are expected to remain in control until prices stay broadly below the level of 128.20.

Trading recommendations:

Remain short now with stop at 129.00, a target is open.

Good luck!

16/02/2016

Technical analysis of GBP/CHF for February 16, 2016 2016-02-15Technical outlook and chart setups:

The GBP/CHF pair has retraced from 1.4760 through 1.3925 to Fibonacci 0.382 levels as depicted here. The pair has reversed from the level 1.4300 as seen here and expected to continue lower. A high probability still remains that a lower low towards the level of 1.3800 can be reached, since the rally from 1.3925 looks corrective. It is hence recommended to remain short from here on with risk above the levels of 1.4300 . Immediate resistance is seen at 1.4450, while support is seen at 1.4100. Only a rally and a breakout above 1.4700 would change the trend. Also please watch for a bullish reaction around 1.4050/60 to review your trading positions.

Trading recommendations:

Stay short now, stop is at 1.44, a target is at 1.4050 and lower.

Good luck!

16/02/2016

Technical analysis of EUR/USD for February 16, 2016 2016-02-15When the European market opens, economic news on the ZEW Economic Sentiment, German ZEW Economic Sentiment, German Constitutional Court Ruling, and Italian Trade Balance is due to be released. The US will release economic data on the TIC Long-Term Purchases, NAHB Housing Market Index, Mortgage Delinquencies, and Empire State Manufacturing Index. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.1226.

Strong Resistance:1.1220.

Original Resistance: 1.1209.

Inner Sell Area: 1.1198.

Target Inner Area: 1.1172.

Inner Buy Area: 1.1147.

Original Support: 1.1136.

Strong Support: 1.1125.

Breakout SELL Level: 1.1119.

16/02/2016

Technical analysis of USD/JPY for February 16, 2016 2016-02-15In Asia, Japan will not release any economic data, but the US will publish some economic data on the TIC Long-Term Purchases, NAHB Housing Market Index, Mortgage Delinquencies, and Empire State Manufacturing Index. So, there is a probability that the USD/JPY pair will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 115.17.

Resistance. 2: 114.94.

Resistance. 1: 114.72.

Support. 1: 114.45.

Support. 2: 114.22.

Support. 3: 114.00.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

15/02/2016

Technical analysis of Silver for February 15, 2016. 2016-02-15Technical outlook and chart setups:

Silver is seen to be trading around $15.30 levels for now after printing lows at $15.20 today. The metal has bounced off the Fibonacci 0.786 levels, of the drop between $16.35 and $13.60 levels respectively. Please note that the metal is forming an evening star bearish candlestick pattern on the daily chart view, indicating a potential reversal in a short term at least. However, bears need to break out $15.08 levels to confirm a deeper correction. Only a push above $16.35 levels would confirm the fact that silver has turned bullish on a long-term basis. Immediate support on a smaller time frame is at $15.00, while resistance is seen at $15.80.

Trading recommendations:

Remain flat for now and be ready to go short if reversal confirms. (around $15.70/80)

Good luck!

15/02/2016

Intraday technical levels and trading recommendations for EUR/USD for February 15, 2016 2016-02-15In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 and 1.2000 where historical bottoms were previously established back in July 2012 and June 2010. Hence, a long-term bearish target is projected towards 0.9450.

In March 2015, EUR/USD bears challenged the monthly demand level of 1.0570, which was hit in August 1997.

Later in April 2015, strong bullish recovery was observed around the mentioned demand level.

The April candlestick came as bullish engulfing one. However, next monthly candlesticks (September, October, and November) reflected strong bearish rejection around the level of 1.1400.

December's candlestick came as bullish engulfing one allowing the current bullish pullback to take place towards 1.1370.

The zone of 1.1350-1.1400 remains a significant Supply Zone to be watched during the current bullish pullback. Bearish rejection should be anticipated.

On the other hand, the level of 0.9450 remains a long-term bearish target in case the current monthly candlestick closes below the depicted demand level of 1.0570.

15/02/2016

Technical analysis of Gold for February 15, 2016 2016-02-15Technical outlook and chart setups:

Gold is trading around $1,209.00/10.00 now after hitting highs around $1,263.00 last Friday. The yellow metal is trading around Fibonacci 0.618 support ($1,212.00) of a rally between $1,181.00 and $1,262.00. A drop below the levels of $1,080.00 would confirm that the yellow metal formed a meaningful top and should retrace lower towards $1,130.00 before rallying further. It is recommended to remain flat and wait for a confirmation to initiate short positions. Immediate interim resistance is seen at $1,245.00 followed by $1,262.00, while support is seen at $1,205.00.

Trading recommendations:

Remain flat looking for an opportunity to go short.

Good luck!

Forex Forum

16/02/2016

16/02/2016

16/02/2016

16/02/2016

16/02/2016

16/02/2016

16/02/2016

16/02/2016

15/02/2016

15/02/2016

15/02/2016

Address

Telephone

Website

Alerts

Shortcuts

Share

Category