UltimaForex.com

No significant changes are taking place on Wednesday the European session, the currency market.

Except for the euro, which is still without a clear trend, the dollar is taking some strength against other currencies leaders, and stand out in this context its growth against the yen, which fell from 80 units in the last hour minimum value since mid- July.

Of course, the weak yen leads to lose ground against the euro too, which is still slightly firmer against the dollar and pound sterling to a lesser extent, as the low, who has been the same since the beginning of European session.

It is also remarkable the strength that has an ounce of gold, and oil, not yet filled a gap left in the Asian session on Monday, so it does not provide for $ 105.00, but no one is stronger.

At this point there is a growing concern in Europe. It is known dependence of the old continent with imports of oil which do not produce, and recently suspended as a measure of pressure, its commercial ties with Iran.

It is naive to believe that Europe will run out of oil, just because Iran did not send it, and that Iran will stop selling oil. These maneuvers are always speculative, and ultimately seek to increase the price of oil is too old.

For Europe to get the same oil from Iran, just enough that it will sell the crude to a country outside Europe and that Europe will not buy another country, other costs of course. If that was the concern should not be.

Gold also strengthens in these times, and positions with the upward trend in short-term charts, and search the area at $ 1,800. It is known that one ounce not long to go 20 or $ 30, and any shocking news could have that effect these days, something tumultuous markets.

No major reports to be published, the most relevant and was released in Europe, and certainly has not been encouraging, with European exchanges operate down to another day and the Dow Jones index futures to move away, down from the heights Monday, the rest of the day presented with good business opportunities in the short term charts.

The material has been provided by Instaforex Company – instaforex.com

AUD/USD

The Australian dollar – U.S. Dollar pair, continuous in the range of 200 pips, as we noted in the yellow box, and showing signs of a possible change in trend and a fall with greater intensity. We can not discard  the possible pullback, which can take place, as almost always happens when a pair breaks its trendline.

Therefore, we can enter selling, only if the pair closes below 1.0610 or we can wait for the pullback expected to happen, and sell the bearish sequence.

The Range Indicator shows overbought signals.

The material has been provided by Instaforex Company – instaforex.com

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EUR/USD

The Euro – U.S. Dollar pair, remains without a definite trend, and forming a figure reversal technique, if we see in the picture, the gap opening earlier this week, has not yet been covered. So, that adds strength to our bearish outlook. According to the table pivots, the euro – dollar, is trading below the first resitencia weekly, so we think we could go back at least to 1.3130 or more down to 1.3050.

Therefore, we recommend selling at current price levels, and with a stop loss, a little above the monthly maximum around 1.3320, and our ultimate goal in this bearish strategy, we will place on the 61.8% retracement of fibinacci.

MCD indicator. is in a neutral point showing bearish signals.

The material has been provided by Instaforex Company – instaforex.com