Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Mysticforex

Chart of the Day

Recommended Posts

Cable has been in a funk lately as the slowdown in UK housing sector has dampened the expectations that the BOE will move on rates anytime before 2015. The UK economy continues to perform well, recording the best growth rates in the G7 universe but appetite for cable amongst traders has clearly declined as sentiment turns more cautious. Tonight UK will deliver its most important PMI readings of the month as the service sector reports its numbers. A strong reading could revive enthusiasm towards sterling, and at very least keep it steady. Meanwhile better news about the US economy and the possibility that ISM Services data could be strong as well could help fuel a move higher is USD/JPY which will help push GBP/JPY above 172.00

 

 

Technicals

Technically GBP/JPY remains in relatively tight 170.00-172.00 range but the pair looks ready to break to the upside and a move through the 172.00 figure opens the prospect of a run all the way to 174.00 figure over the next few days.

GBPJPY_06_03.14-405x263.jpg.e37489383fc911bc8240e627bbf99868.jpg

Share this post


Link to post
Share on other sites

From a fundamental and technical basis, it should only be a matter of time before EUR/JPY breaks above 140. Considering that the currency pair ended Friday’s session only 10 pips or so away from this level it won’t take a stretch of the imagination to believe that at bare minimum a test and most likely a break of this level will occur. However it is not just the proximity of this level that has us convinced that the currency pair will not only breach 140 but make a run for 141. First and foremost, EUR/JPY is traditionally the quintessential risk on trade, which means that when stocks do well, EUR/JPY should rally. However even though U.S. stocks have climbed to record highs, we have seen a very limited up move in EUR/JPY and a lot of that had to do with ECB uncertainty. Now that euro has survived negative rates, EUR/JPY should be able to trade higher. At the same time, Friday’s non-farm payrolls report supported the recent gains in USD/JPY.

 

 

Technicals

Taking a look at the daily chart of EUR/JPY, the currency pair has been in turn mode since the end of last month and with the latest rally, it has now entered the Buy Zone according to our Double Bollinger Bands. A break of 140 would take the currency pair well above the 38.2% Fibonacci retracement of the December to February decline and psychologically significant resistance level. If that occurs, there’s no major resistance until 141. However if EUR/JPY fails at current levels, a drop back down to its 3 month low of 138 becomes likely.

eurjpy060914.png.6b1cd55b53cc76af0ab595fbff511c31.png

Share this post


Link to post
Share on other sites

Since the beginning of the month, EUR/GBP has been on a one-way downtrend and with the currency pair seeing lower highs and lower lows, all signs point to further losses. On a fundamental basis, EUR/GBP should be trading lower. The ECB eased monetary policy while the BoE is very comfortable with its policy. The currency pair dropped to a fresh low today despite relatively healthy industrial production numbers. The big test for pound this week will be tomorrow’s employment report. For the most part, the labor market is expected to remain unchanged with jobless claims falling at a consistent pace. However based on the latest PMI numbers, we believe that the risk is to the upside, meaning EUR/GBP weakness. The service sector reported the strongest pace of employment growth in 17 years and in the manufacturing sector, jobs continue to be added. Stronger data could send sterling to new highs versus the euro.

 

 

Technicals

With EUR/GBP trading at 16-month lows, we have to turn to the weekly chart for support. The 23.6% Fibonacci retracement of the 2011 to 2012 decline sits right at the 2010 swing low at 0.8070. If EUR/GBP breaks through this level, there is no major support until 80 cents and even this level could give way as more significant support sits at 0.7750. As for resistance, rallies should be limited to 0.8265 for the time being.

eugbp061114.png.24ec93449d5b22cfeab535ea4dbeee94.png

Share this post


Link to post
Share on other sites

The kiwi/yen pair is the quintessential carry trade candidate in the forex market as the spread differential between the two currencies in expected to expand. Yet the pair has been in a slow drift downward and may now tip below the 86.00 level. The key reason is concern by the market that the RBNZ may choose to temper its tightening policy given the slowdown in demand for the country's prime export - milk. With New Zealand economy showing some signs of exhaustion of growth the monetary authorities in New Zealand may choose to halt the rate hike cycle for now. Meanwhile the yen has been surprisingly strong as US yields remain contained and some risk aversion sentiment is starting to creep in to the market. Tonight's RBNZ decision may be the key to the pair path for the near term. If the central bank sounds dovish the pair could tumble through the 86.00 level in a flash.

NZDJPY_06_11_14.jpg.c619414f6f1d859e83f56debe402a288.jpg

Share this post


Link to post
Share on other sites

Taking a look at the weekly chart of EUR/NZD, the latest decline has taken the currency pair below the 61.8% Fibonacci retracement of the 2012 to 2013 rally. While 1.55 could serve as psychological resistance, the more significant technical resistance is at 1.5450, a level that the currency pair bottomed at in December 2012 and again in March 2013. Below that is the November swing low at 1.5393. Resistance is up at 1.5850.

eurnzd061314.png.cca6afee19f4d086a86336cdce3fc167.png

Share this post


Link to post
Share on other sites

Technically the 7950 level remains key support in EUR/GBP and a break there could open a run towards the 7800 figure. On the upside a retake of 8000 could signal a spike bottom and a possible move back to 8100.

EURGBP_06_16_14.jpg.f0e05243b69392a70ce742453dbee17c.jpg

Share this post


Link to post
Share on other sites

Taking a look at the daily chart of AUD/NZD, the latest decline has taken the currency pair below the 38.2% Fibonacci retracement of the January to June rally. The next level of support is at 1.0767 and if this level along with the swing low of 1.0750 is broken, there is no support until 1.07. If AUD/NZD rallies break back above 1.0835, there is a chance of a stronger recovery up to the February high of 1.0945.

audnzd061814.png.a1228bccdeddeea0585eec1d954ecc68.png

Share this post


Link to post
Share on other sites

When you’ve got a central bank artificially intervening in the currency market, technical levels carry less significance. As shown in the daily chart of EUR/CHF, the currency pair is trading between a number of key Fibonacci retracement levels but the main levels to watch are the March 3rd low of 1.2105 and the April high of 1.2250. We don’t expect EUR/CHF to break either one of these levels in the short to medium term.

eurchf061914.png.3416b1f33734b9169f8115b3ba3a19ab.png

Share this post


Link to post
Share on other sites

EUR/CAD

 

From a technical perspective, the next wave in EUR/CAD’s downtrend has already begun with the break of the 200-day SMA at 1.4735. The currency pair has been hovering around this moving average for the past week and finally broke through it with Friday’s reports. There has also been a major head and shoulders pattern forming that broke earlier this month but the move did not really gain momentum. Now that the 200-day SMA has broken, we believe it creates a major downside opportunity. There is no support at this stage until the 2014 low near 1.4400 and more significantly the 38.2% Fibonnaci retracement of the August 2012 to March 2014 rally at 1.4230. The downtrend would be negated if EUR/CAD rises back above 1.48.

EURCAD062314.png.9aaeacec55a8e0c15af1db88970433e4.png

Share this post


Link to post
Share on other sites

EUR/GBP has found strong support in front of 7950 and that remains the key level in the pair. A break below opens up a run towards .7800 while only a break above the .8100 figure relives the bearish bias.

EURGBP_06_23.14-405x280.jpg.d8e148504e51461cd93f9b040c478acb.jpg

Share this post


Link to post
Share on other sites

The drop in GBP/JPY suggests that the pair has put in a double top at the 174.00 level and may correct all the way to 170.00 over the next several weeks. The pair has some support at 172.00 but a break there could open a deeper test of 170.00. Meanwhile only a break above 175.00 negates the bearish bias in the pair.

GBPJPY_06_25_14.jpg.31d897abb6f1e407e306a65cdc52c97e.jpg

Share this post


Link to post
Share on other sites

All of the highs in EUR/JPY over the past 2 weeks have remained below moving average and trendline support, which is a sign that the breakdown remains intact. However in order for EUR/JPY to make a run for its 2014 low, it needs to break below 137.70. As long as it holds above this price point, consolidation is more likely.

eurjpy062714.png.0f1580ad4193a97fb910239a0da8957a.png

Share this post


Link to post
Share on other sites

Today’s break above the key 1.7063 resistance level in GBP/USD is significant because it takes the currency pair clearly above the 1.7044/49 resistance level that marked the high in 2009 and the low in 2005. The risk of a rise to 1.7332, the 50% Fibonnaci retracement of the 2007 to 2008 decline has increased materially as a result and only a break below 1.6950 would mitigate that possibility.

gbpusd063014.png.e12259278f697b6e223d67bccefa51aa.png

Share this post


Link to post
Share on other sites

Technically, the 100.75 barrier remains a key support for the pair and the longer the base holds the more likely the pair is to break to the upside as foundation holds. A break below the 100.75 level however opens the possibility of a run through 100 while a take out of 102.00 creates a much more bullish bias in the pair.

USDJPY_07_02.14-405x235.jpg.bfee035f9814f3e5223a90713b490ccc.jpg

Share this post


Link to post
Share on other sites

Technically GBP/AUD has hit a clear resistance ahead of the 1.8400 level and is in the process of establishing a double top. A move through 1.8400 would re-instate the upward trend while a move below 1.8000 would suggest that a much deeper correction is in store.

GBPAUD_07_07_14.jpg.4dec697af0441d6c1ccda33c333eb87b.jpg

Share this post


Link to post
Share on other sites

Taking a look at the weekly chart of EUR/NZD, the next level of support for the currency pair is 1.5393. If this level is broken, then there is no major support until the 2013 low of 1.5082. The downtrend in EUR/NZD remains intact as long as the currency pair holds above its former breakdown level of 1.5707.

eurnzd070914.png.92c9ee445631259d0c1bd4ef4e57afc2.png

Share this post


Link to post
Share on other sites

Having now taken out 9450 level NZD/CAD looks ready to mount a run towards 9500. A break there opens the field for a test of the yearly highs, but a break below 9400 would suggest that the upside bias has been broken

NZDCAD_07_12_141.jpg.3b8ed32a7b2fdb0e01713dd340436ea0.jpg

Share this post


Link to post
Share on other sites

From a technical perspective, 1.35 is less significant than the February 3rd low of 1.3477. However taking a look at the chart, today’s decline has taken EUR/USD below trend line support. If the pair breaks its 2014 low of 1.3477, the next stop could be the November low of 1.3295. However if it holds 1.3450 (we’ll give it a bit of flexibility), it could be back into the 1.35 to 1.37 range for the pair.

eurusd071714-405x249.png.de83832cc50d3c836ec313baa0e7b190.png

Share this post


Link to post
Share on other sites

For the past week the EUR/CAD has been trading in a 1.4600-1.4400 range and the lower end of that range is the key support. A break there could open the run towards 1.4000 as the pair heads for fresh yearly lows

EURCAD_07_17_14.jpg.7993504dd70b54cf3d3c9e2432ce8f7a.jpg

Share this post


Link to post
Share on other sites

Taking a look at the weekly chart of EUR/AUD, if the 2014 low of 1.4360 is broken, the next level of support for the currency pair will be 1.4230, the 38.2% Fibonacci retracement of the 2012 to 2014 rally. If EUR/AUD finds support above 1.4360, it should remain confined between 1.4360 and 1.4600. If 1.46 is broken, there is no major resistance until 1.4850.

euraud072114.png.0e0342d0f844e0b5f1fcf2338d99e145.png

Share this post


Link to post
Share on other sites

Technically GBP/NZD is nearing the top of its multi-month range with 1.9750 looking to cap the current move. A break higher could open a run to 1.9900 while a drop would target the lower end of the range as 1.9400

GBPNZD_07_21_14.jpg.60e418bbf14d873a037056c05cb60614.jpg

Share this post


Link to post
Share on other sites

Taking a look at the weekly chart of EUR/GBP, the currency pair is clearly in a downtrend. If the 2014 low of 0.7889 is broken in a meaningful way, there is no support until the July 2012 low of 0.7756. A break above 0.8033 would be needed to negate the downtrend and put EUR/GBP in a better positioned for a trend reversal.

eurgbp072314.png.a9c1bd4d347e2149e1d0cfdfd258f0b6.png

Share this post


Link to post
Share on other sites

Having broken below the 1.4300 level and made fresh yearly lows, the EUR/AUD pair is clearly in a steep downtrend. The next target for the shorts is the 1.4000 figure while only a close above 1.4500 relieves downward pressure

EURAUD_07_24_14.jpg.433141222975ccec4d0c21c9137295c7.jpg

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 11th July 2025.   Demand For Gold Rises As Trump Announces Tariffs!   Gold prices rose significantly throughout the week as investors took advantage of the 2.50% lower entry level. Investors also return to the safe-haven asset as the US trade policy continues to escalate. As a result, investors are taking a more dovish tone. The ‘risk-off’ appetite is also something which can be seen within the stock market. The NASDAQ on Thursday took a 0.90% dive within only 30 minutes.   Trade Tensions Escalate President Trump has been teasing with new tariffs throughout the week. However, the tariffs were confirmed on Thursday. A 35% tariff on Canadian imports starting August 1st, along with 50% tariffs on copper and goods from Brazil. Some experts are advising that Brazil has been specifically targeted due to its association with the BRICS.   However, the President has not directly associated the tariffs with BRICS yet. According to President Trump, Brazil is targeting US technology companies and carrying out a ‘witch hunt’against former Brazilian President Jair Bolsonaro, a close ally who is currently facing prosecution for allegedly attempting to overturn the 2022 Brazilian election.   Although Brazil is one of the largest and fastest-growing economies in the Americas, it is not the main concern for investors. Investors are more concerned about Tariffs on Canada. The White House said it will impose a 35% tariff on Canadian imports, effective August 1st, raised from the earlier 25% rate. This covers most goods, with exceptions under USMCA and exemptions for Canadian companies producing within the US.   It is also vital for investors to note that Canada is among the US;’s top 3 trading partners. The increase was justified by Trump citing issues like the trade deficit, Canada’s handling of fentanyl trafficking, and perceived unfair trade practices.   The President is also threatening new measures against the EU. These moves caused US and European stock futures to fall nearly 1%, while the Dollar rose and commodity prices saw small gains. However, the main benefactor was Silver and Gold, which are the two best-performing metals of the day.   How Will The Fed Impact Gold? The FOMC indicated that the number of members warming up to the idea of interest rate cuts is increasing. If the Fed takes a dovish tone, the price of Gold may further rise. In the meantime, the President pushing for a 3% rate cut sparked talk of a more dovish Fed nominee next year and raised worries about future inflation.   Meanwhile, jobless claims dropped for the fourth straight week, coming in better than expected and supporting the view that the labour market remains strong after last week’s solid payroll report. Markets still expect two rate cuts this year, but rate futures show most investors see no change at the next Fed meeting. Gold is expected to finish the week mostly flat.       Gold 15-Minute Chart     If the price of Gold increases above $3,337.50, buy signals are likely to materialise again. However, the price is currently retracing, meaning traders are likely to wait for regained momentum before entering further buy trades. According to HSBC, they expect an average price of $3,215 in 2025 (up from $3,015) and $3,125 in 2026, with projections showing a volatile range between $3,100 and $3,600   Key Takeaway Points: Gold Rises on Safe-Haven Demand. Gold gained as investors reacted to rising trade tensions and market volatility. Canada Tariffs Spark Concern. A 35% tariff on Canadian imports drew attention due to Canada’s key trade role. Fed Dovish Shift Supports Gold. Growing expectations of rate cuts and Trump’s push for a 3% cut boosted the gold outlook. Gold Eyes Breakout Above $3,337.5. Price is consolidating; a move above $3,337.50 could trigger new buy signals. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Back in the early 2000s, Netflix mailed DVDs to subscribers.   It wasn’t sexy—but it was smart. No late fees. No driving to Blockbuster.   People subscribed because they were lazy. Investors bought the stock because they realized everyone else is lazy too.   Those who saw the future in that red envelope? They could’ve caught a 10,000%+ move.   Another story…   Back in the mid-2000s, Amazon launched Prime.   It wasn’t flashy—but it was fast.   Free two-day shipping. No minimums. No hassle.   People subscribed because they were impatient. Investors bought the stock because they realized everyone hates waiting.   Those who saw the future in that speedy little yellow button? They could’ve caught another 10,000%+ move.   Finally…   Back in 2011, Bitcoin was trading under $10.   It wasn’t regulated—but it worked.   No bank. No middleman. Just wallet to wallet.   People used it to send money. Investors bought it because they saw the potential.   Those who saw something glimmering in that strange orange coin? They could’ve caught a 100,000%+ move.   The people who made those calls weren’t fortune tellers. They just noticed something simple before others did.   A better way. A quiet shift. A small edge. An asymmetric bet.   The red envelope fixed late fees. The yellow button fixed waiting. The orange coin gave billions a choice.   Of course, these types of gains are rare. And they happen only once in a blue moon. That’s exactly why it’s important to notice when the conditions start to look familiar.   Not after the move. Not once it's on CNBC. But in the quiet build-up— before the surface breaks.   Enter the Blue Button Please read more here: https://altucherconfidential.com/posts/netflix-amazon-bitcoin-blue  Profits from free accurate cryptos signals: https://www.predictmag.com/ 
    • What These Attacks Look Like There are several ways you could get hacked. And the threats compound by the day.   Here’s a quick rundown:   Phishing: Fake emails from your “bank.” Click the link, give your password—game over.   Ransomware: Malware that locks your files and demands crypto. Pay up, or it’s gone.   DDoS: Overwhelm a website with traffic until it crashes. Like 10,000 bots blocking the door. Often used by nations.   Man-in-the-Middle: Hackers intercept your messages on public WiFi and read or change them.   Social Engineering: Hackers pose as IT or drop infected USB drives labeled “Payroll.”   You don’t need to be “important” to be a target.   You just need to be online.   What You Can Do (Without Buying a Bunker) You don’t have to be tech-savvy.   You just need to stop being low-hanging fruit.   Here’s how:   Use a YubiKey (physical passkey device) or Authenticator app – Ditch text message 2FA. SIM swaps are real. Hackers often have people on the inside at telecom companies.   Use a password manager (with Yubikey) – One unique password per account. Stop using your dog’s name.   Update your devices – Those annoying updates patch real security holes. Use them.   Back up your files – If ransomware hits, you don’t want your important documents held hostage.   Avoid public WiFi for sensitive stuff – Or use a VPN.   Think before you click – Emails that feel “urgent” are often fake. Go to the websites manually for confirmation.   Consider Starlink in case the internet goes down – I think it’s time for me to make the leap. Don’t Panic. Prepare. (Then Invest.)   I spent an hour in that basement bar reading about cyberattacks—and watching real-world systems fall apart like dominos.   The internet going down used to be an inconvenience. Now, it’s a warning.   Cyberwar isn’t coming. It’s here.   And the next time your internet goes out, it might not just be your router.   Don’t panic. Prepare.   And maybe keep a backup plan in your back pocket. Like a local basement bar with good bourbon—and working WiFi.   As usual, we’re on the lookout for more opportunities in cybersecurity. Stay tuned.   Author: Chris Campbell (AltucherConfidential) Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • DUMBSHELL:  re the automation of corruption ---  200,000 "Science Papers" in academic journal database PubMed may have been AI-generated with errors, hallucinations and false sourcing 
    • Does any crypto exchanges get banned in your country? How's about other as Bybit, Kraken, MEXC, OKX?
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.