Exness-EURUSD remains strongly overbought, expecting a bearish reversal

Sell now and sell once more if price rises up to 1.1235. Take profit at 1.1075. Stop loss at 1.1305.

Reason for the trading strategy (technically) :

1.1235 is the golden ratio Fibonacci retracement from the high of 24th June 2016. It is also a 1.0 Fibonacci projection as seen by the brown arrows. This is hence a key resistance level for us to sell off.

1.1075 is our first profit target because it is a graphical support + 50% Fibonacci retracement level.

RSI has reacted off the 76% resistance level and has also made a bearish exit from its ascending support-turned-resistance line.

Reason for the trading strategy (fundamentally) :

The key news event are the USD Spending reports and Personal Consumption Expenditure reports. A high reading is bullish for USD and a low reading is bearish. Our recent trend since 2015 June has been seeing a steady rise meaning we can expect USD to be bullish, hence that goes in line with our view on EURUSD being bearish.

Exness-EURUSD remains strongly overbought, expecting a bearish reversal

Exness - USDJPY is bouncing above our channel support

Buy now and if price drops to 101.80. Take profit at 104.00. Stop loss at 100.55.

Reason for the trading strategy :

Price has bounced off our channel support really well. 101.80 is a key Fibonacci retracement level which is in line with our channel support. 104.00 is our take profit level because it’s the 50% Fibonacci retracement and graphical pullback resistance.

RSI displays bullish divergence vs price signalling a bullish recovery.

Stochastics is bouncing above our 5% support signalling a bullish recovery in price.

Reason for the trading strategy (fundamentally) :

The key news event are the USD Spending reports and Personal Consumption Expenditure reports. A high reading is bullish for USD and a low reading is bearish. Our recent trend since 2015 June has been seeing a steady rise meaning we can expect USD to be bullish, hence that goes in line with our view on USDJPY being bullish.

Exness - USDJPY is bouncing above our channel support

Exness - NZDUSD drop in progress, we tighten our stop loss

Sell entry at 0.7200. Stop loss at 0.7240. 1st take profit at 0.7125. 2nd take profit at 0.7060.

Reason for the trading strategy (technically) :

Price has dropped as expected from yesterday and is approaching our first profit target level. We continue to sell now looking for a further drop to 0.7125 before 0.7060.

The RSI ascending support-turned-resistance line has been broken triggering a bearish exit which we expect price to follow with a corresponding drop.

Reason for the trading strategy (fundamentally) :

The key news event is the NZD Dairy Auctions Whole Milk Powder Prices. A lower value here would cause the NZD to weaken considerably. Since October 2015, price has been on a steady decline. We expect the same here which goes in line with our bearish view on NZDUSD.

Exness - NZDUSD drop in progress, we tighten our stop loss

Exness - AUDNZD bullish above strong support

Buy now above 1.0485. Stop loss at 1.0420. Take profit at 1.0575.

Reason for the trading strategy (technically) :

Price has bounced off a key support level at 1.0485 (graphical support + golden ratio Fibonacci retracement + Bollinger band support). We are bullish above this level to our first profit target at 1.0575 which is the recent graphical overlap resistance + Fibonacci retracement level.

Stochastics is also right above a key 4% support level and is displaying bullish divergence vs price.

Exness - AUDNZD bullish above strong support

Sensex, Nifty erase gains; Maruti, Bharat Financial most active

The Sensex was down 12.35 points at 27990.77, and the Nifty down 9.45 points at 8627.10.

About 1698 shares declined against 937 advancing shares on the BSE.

For more real-time news updates and best Nifty Futures Tips contact Epic Research or visit our website.

Sensex, Nifty erase gains; Maruti, Bharat Financial most active

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