TipTVFinance

TipTVFinance

EUR/USD rejected at stiff resistance zone after ECB ECB rate decision and Draghi’s press conference was a dud as expected. EUR/USD was on the rise ahead of the rate decision and extended gains to near 1.14 levels during Draghi’s presser. Decoding Draghi is very simple since there is nothing to decode as Mr. President was on a self congratulatory mode, stating...

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Resistance - $1283, $1300, $1310 Support - $1263, $1253, $1237 Broad based USD weakness and sharp rally in Silver has pushed gold above key hurdle of $1263. Doors would be opened for a rally towards $1300-1310 levels if the prices manage to see a day end closing above $1263 levels. On the downside, a break below $1255 could see prices re-test...

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A weak daily closing below Monday’s high of 6344 could be a signal the index has completed basic 5-wave structure. A weak closing on Wednesday has already signaled a bearish price-RSI divergence. Bears should observe caution as selling is likely to gather pace only if the daily candle closes below 6344. Intraday dips below the same followed by...

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An hour or so ahead of the ECB rate decision, EUR/USD has turned positive on the day. There is very little the European Central Bank (ECB) can do as discussed in the ECB preview. Daily Chart Technicals Euro’s failure to sustain below 1.1293 (23.6% of May 2014 high-March 2015 low) followed by a move back above 5-DMA of 1.1309 coupled with daily RSI above...

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Resistance – 1.4350, 1.44, 1.4438 (100-DMA) Support – 1.4308-1.43, 1.4252, 1.4223 (50-DMA) A weaker-than-expected UK retail sales was largely in line with our expectations and the Pound is now flirting with looking to take out support at 1.4308. The currency pair was losing ground in anticipation of weak data; hence immediate reaction following the data release...

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Brent clocked 5-month high of $46.10 and trades around the same in early Europe today. Markets ignored a record high weekly inventory buildup reported by US government and cheered IEA’s forecast of sharp drop in non-OPEC output in 2016 Formation – Rising channel Resistance – $46.47, $47.65, $47.97 Support – $44.90, $43.32, $42.51-42.27 Brent’s day end...

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Price action yesterday Cable made multiple failed attempts to take out inverted head and shoulder neckline seen yesterday at 1.4402. The second attempt was widely expected to result in an upside break since the pair bounced off from around key support level of 1.4350 after dismal UK labor and wage growth data release. However, dollar demand was strong in the NY...

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Daily Chart Formation – Possible bearish price-RSI divergence Resistance – 18,137, 18,188, 18288 Support – 17,977, 17,914, 17,796 A tinge of risk-off was seen in Europe, courtesy of oil price drop. Though oil has recovered there exists a risk-off fresh drop in case US government data shows a big build up in weekly inventory. In such a case, the...

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Daily Chart Pattern - Bullish price-RSI divergence confirmed Resistance – 124.44, 125.40, 126.16 Support – 124.00, 122.83, 122.54 Pair’s bullish price-RSI divergence if followed by a move above previous day’s high of 124.44 would expose falling channel (extended) level seen today around 125.40 levels. A break above would expose another falling trend...

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Daily Chart Formation – Possible H&S formation unless 1.1419 is breached Resistance – 1.1385, 1.1419-1.1430, 1.1465 Support – 1.1327, 1.13, 1.1260 Watch out for a possible move towards head and shoulder neckline (seen today at 1.1260; neckline may rise to 1.1284 in next few days). A convincing break above resistance at 1.1376 would shift risk in...

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Hourly chart Formation – double top, head and shoulder on daily chart Resistance - $1249.10, $1263, $1271 Support - $ $1235, $1227.12, $1217 Double bottom breakout on the hourly chart has opened doors for a drift lower to $1240-1238 levels and adds increases the likelihood of the metal completing head and shoulder formation. The head and...

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FTSE futures, in line with the weakness seen in other major European equity index futures and oil prices, are indicating the index is likely to open 28 points or 0.45% on the day. Oil benchmarks – WTI and Brent – are down more than 2% and thus mining and energy shares are likely to lead the drop in FTSE Hourly chat formation – Bearish price-RSI divergence ...

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GBP/USD breached falling channel seen on the daily chart in the NY session yesterday and tested supply around the inverse head and shoulder neckline hurdle. Prices clocked a high of 1.4419 before bullish move ran out of steam. The bird is losing height in early Europe today; now trading around 1.4350 levels. Points to be noted heading into data release ...