GBPUSD Weekly Outlook - daily close above 1.5700 and weakness under 1.5470
W1 price is located below 200 period SMA (200-SMA) and below 100 period SMA (100-SMA) for the primary bullish with secondary ranging within consoludation channel of Fibo resistance at 1.5929 and 50.0% Fibo support level at 1.5250:
symmetric triangle pattern is going to be crossed by the price from below to above for the bullish trend to be continuing;
“GBP/USD has settled into a range below the 61.8% retracement of the June/July decline at 1.5700”;
"Weakness under 1.5470 is needed to trigger another leg lower in the pound";
“A daily close above 1.5700 would turn us positive on GBP/USD”.
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Quick Technical Overview - NIKKEI 225 Index: R2 yearly Pivot to be broken for breakout
Weekly price is on bullish market condition for ranging between 19150 support level and 20975 resistance level. The price is breaking R2 Pivot at 20733 for the 20975 as the next target.
Chinkou Span line is located to be above the price and indicating the bullish trend to be continuing.
'Reversal' Sinkou Span A line (which is the virtual border between the primary bullish and the primary bearish on the chart) is located far below the price which makes bearish reversal to be impossible in the near future.
The nearest resistance level is 20733, and the next level is 20975.
Absolute Strength indicator is estimating the secondary ranging.
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GBPUSD Intra-Day Technical Analysis - ranging breakout
H4 price was on breakout for Sinkou Span A line crossing: the price came to the bullish area of the chart to be above Ichimoku cloud. The nearest resistance line to be broken is 1.5650 with 1.5677 as the next bullish target. Chinkou Span line crossed the price from below to above for good breakout in the near future. Nearest support level 1.5567 is located to be below Ichimoku cloud in the bearish area of the chart with 1.5525 as the next bearish target.
Chinkou Span line crossed the price from below to above for good breakout
The price is ranging between 1.5677 resistance and 1.5525 support level.
Absolute Strength indicator is estimating the ranging market condition in the future.
The nearest resistance levels for H4 price are 1.5650 and 1.5677.
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Alibaba Quantum Computing Laboratory to expand new research into quantum field of computers
Alibaba cloud computing group and Chinese Academy of Sciences signed a memorandum to co-found the Alibaba Quantum Computing Laboratory to take the study and applications of quantum theory to the next level.
This aggrement was signed by the following officials:
Chunli Bai, president of CAS;
Jianwei Pan, professor and executive vice president of the University of Science and Technology of China and a CAS member;
Alibaba Group Chief Technology Officer Jian Wang.
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Neusoft Ruichi Automotive Technology to start internet business in automobile-related sectors
Neusoft Group has signed an agreement with Alpine Electronics and Shenyang Fu Rui Chi to build a joint venture: Neusoft Ruichi Automotive Technology (Shanghai) Co., Ltd.
to start internet business in new energy automobile electronics. Neusoft Ruichi will have capital of CNY384.62 million and it will invest CNY157.7 million.
New joint venture will focus on innovations and developments of various automobile-related sectors:
new energy vehicle battery management,
intelligent charging,
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USDCAD Price Action Analysis - rise to 11-year high
W1 price is located above 200 period SMA (200-SMA) and above 100 period SMA (100-SMA) for the primary bullish market condition:
Fibo resistance level at 1.3213 is going to be broken for the bullish trend to be continuing.
Next bullish target is R3 Pivot at 1.3352.
"Near-term resistance is at 1.3232, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis exposing the 50% level at 1.3347."
"Alternatively, a turn below the 23.6% expansion at 1.3090 clears the way for a test of the 14.6% expansion at 1.3002."
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Quick Technical Overview - Nasdaq 100: good breakout possibility at R2 Pivot level
Weekly price is on bullish market condition for ranging between 4344.15 support level and 4694.13 resistance level. The price broke R1 Pivot at 4579.60 on close weekly bar for the next target as R2 Pivot at 4929.84:
Chinkou Span line is located to be above the price and indicating the bullish trend to be continuing.
'Reversal' Sinkou Span A line (which is the virtual border between the primary bullish and the primary bearish on the chart) is located far below the price which makes bearish reversal to be impossible in the near future.
The nearest resistance level is 4694.13, and the next level is R2 Pivot at 4929.84.
Absolute Strength indicator is estimating the secondary ranging.
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How does Credit Suisse see US payrolls number impacting the USD
Credit Suisse made a forecast for Non-Farm Employment Change for this week with detailed explanation about what to expect for example: Just to remind that previous NFP data was 223K, and forecasting for this Friday is around 224K for example:
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GOLD Pivot Points Analysis - S2 Pivot at 977.50 as the next target
W1 price is bearish market condition for breaking S1 Pivot at 1082.97 from above to below for the bearish trend to be continuing. If this 1082.97 target is broken by close weekly bar so the next target will be S2 Pivot at 977.50.
The price is located between yearly Central Pivot at 1237.48 and S2 Pivot at 977.50;
The price is breaking descending triangle pattern with 1077.19 support level and breaking S1 Pivot at 1082.97 from above to below for the bearish trend to be continuing;
If weekly price will break S1 Pivot at 1082.97 by close weekly bar so the next target will be S2 Pivot at 977.50.
Instrument
S2 Pivot
S1 Pivot
Yearly PP
R1 Pivot
XAU/USD
977.50
1082.97
1237.48
1342.96
Trend:
W1 - bearish breakdown
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EUR/USD Fundamental Forecast - Non-Farm Payrolls
The Royal Bank of Scotland (RBS) made forecast concerning the following coming high impacted news events:
Non-Farm Payrolls (or Non-Farm Employment Change) - they made a forecast for non-farm payroll growth of 250K in July, above the listed consensus of 225K.
Just to remind that previous NFP data was 223K, and forecasting for now is 225K for example, so if RBS is looking for 250K as an actual data - it means to be more bearish for EURUSD. Because in case of NPF: actual > forecast = good for currency (for US Dollar in our case). So, it means: more bearish for EURUSD with some key support levels to be broken.
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