JPY has been the dominant currency in the pair since the price bounced off 149.00 with a daily close. At present, the pair is trading at near 135.50. The Bank of England is going to announce its monetary policy decision this week after the Bank of Japan. Meanwhile, the chaos and uncertainty triggered by BREXIT […]
Gold bulls took over again on Tuesday, driving the price near Friday’s 14-month high of 1,358. The location of the RSI – above 70 – hints that the bullish action may be overdone, and therefore no space is left for additional upside. However, with the Stochastics trending under the 80 oversold level and the MACD strengthening momentum above its […]
Its shirt is closer to the body. According to IMF estimates, Brent is required at $80-85 per barrel in order to balance the budget of Saudi Arabia. Looking at these figures, it becomes clear why Riyadh is calling on OPEC and other producing countries to prolong the Vienna agreement on production cuts by 1.2 million […]
The US dollar managed to regain above 108.50 price area while the Japanese yen continues to increase profits. Overall, the financial market of US is awaiting the FOMC meeting this week. The outcome of the meeting is expected to cause a surge in the volatility of the US Stock Market and US Dollar as well. […]
On the eve of the FOMC decision, world markets are trading in a narrow range. Consolidation is quite objective since it is expected that following the FOMC meeting may announce serious changes in monetary policy. In particular, the markets expect the Fed to recognize the fact of a slowdown in the US economy and worsen […]
Early this month, the Reserve Bank of Australia (RBA) held a monetary policy meeting and became the first major central bank to slash interest rates. In the accompanying monetary policy statement, the officials argued that the rate cut will help stabilize the economy and support the employment situation in the country. They also expected it […]
The European Union is made up of 28 countries, which have a population of more than 500 million people and a GDP of more than $18.8 trillion. The region is known for its strong industrial base, protective regulations, and the peaceful co-existence. Over the years, there has been criticism on whether the concept of European […]
This week, investors will continue to focus on the ongoing trade skirmish between United States and China. This is ahead of the G20 meeting, which will take place in Japan. Donald Trump has expressed hopes of meeting with China’s Xi to try and resolve the trade issue. On the other hand, China has not confirmed […]
This year, Bitcoin and other cryptocurrencies have continued to outperform the market. The price of the currency has moved from about $3500 to above the $9000 level. Other currencies like Litecoin, which is close to the halving has gained by more than 300%. There are two main reasons why the rally has continued. First, based […]
Over the weekend, investors and analysts around the world continued to focus on the crisis in the Middle East. This is after two oil tankers were attacked on Wednesday at the Strait of Hormuz. The United States, through Mike Pompeo and Donald Trump, placed their blame on Iran. They also provided video evidence of the […]
Central banks cut interest rates when fears over an economic downturn are seriously mounting. This is the impression that markets are currently getting from the US as weakening economic data combined with heightening external risks dampen economic projections and hence raise the stakes for a rate reduction. The Federal Open Market Committee, however, announces its policy decision […]
EURUSD is currently trading below the 1.1200 level that kept bears in check in the previous two sessions, with the RSI and the MACD suggesting more downside to follow as the former is losing momentum below its 50 neutral mark and the latter is weakening below its red signal line. Should the market come under stronger negative pressure, the 1.1110 bottom could prove […]
On 12-13 June XM attended one of the largest and most significant trading-related financial exhibitions in Europe, the Italy-based ITForum Rimini. Similarly to the previous years, the must-attend event series attracted a large number of financial services providers as exhibitors, several hundreds of financial market experts as key speakers of seminars, conferences and workshops, as […]
For the last trading day, the currency pair euro / dollar showed underestimated volatility of 43 points, as a result of having a rollback after the recent rally. From the point of view of technical analysis, we see that the recent impulse led us to the level of 1.1200, where the quotation on local overheating […]
The British currency continues to be down. Today, the pound, paired with the dollar has once again updated the annual minimum, dropping to the base of the 25th figure. The pair slid gradually but confidently enough to a minimum of last year to 1.2436 amid the gloomy prospects of Brexit. The probability of the victory […]
Markets look to ECB forum today for easing hints – focus on Draghi Pound takes another hit ahead of more Tory leadership votes Aussie drops after RBA minutes reaffirm dovish stance Traders await signals as central bankers gather under one roof Markets continue to trade in a relatively quiet manner, with limited movements in most […]
Over the past trading day, the currency pair pound / dollar showed volatility close to the average daily 74 points, as a result of maintaining an inertial movement. From the point of view of technical analysis, we see that after a slight slowdown within the value of 1.2600, the inertial course resumed, breaking through the […]
Today, the formation of the local zone of accumulation formed continues in early June. Working within this zone implies sales at the top of the range and their partial fixation at the lower border. Purchases should not be considered as long as the pair is trading below the 1/2 WCZ of 52.61-52.44. The flat framework […]
GBPUSD reactivated the downtrend started from the 1.3380 peak to reach a fresh six-month low of 1.2510 on Tuesday. Technically, the pair could lose further momentum as the MACD is crossing below its red signal line. However, with the RSI rebounding on its 30 oversold mark and the Stochastics set for a bullish cross under 20, […]
To open long positions on GBP/USD you need: Yesterday, buyers tried to win back the divergence on MACD, but failed to keep the market on their side. At the moment, the formation of a false breakout of the support area of 1.2520 will be the signal to buy, but it is best to trade against […]
To open long positions on EURUSD you need: Buyers urgently need a breakthrough resistance of 1.1245, consolidating on which will make it possible for us to count on the continuation of an upward trend with the update of the high of 1.1286, where I recommend taking profits in the first half of the day. A […]
The tension factor has grown on the market: Iran threatens to withdraw from the “nuclear agreement” as it is under pressure from the United States. Europe is trying to convince Iran to stay in the deal. The United States accuses Iran of attacking tankers in the Gulf of Oman, and presents evidence. The United States […]
Crypto Industry News: John McAfee is surprised again. Now he decided to set up his own McAfee Magic cryptocurrency exchange. As he wrote on Twitter, it will be a revolutionary platform. What is this revolution based on? The website explains that the stock market is to allow manual and automatic trading in the cryptocurrency market. […]
Crypto Industry News: The president of the Russian central bank said that talks about the issue of the national digital currency (CBDC) are underway.Financial media report that the head of Bank of Russia Elvira Nabiullina told the audience gathered at a student conference in the Russian city of Skolkovo that CBDC cannot be issued at […]
Technical Overview: The GBP/USD pair has made another lower low on its way down. The low was located at the level of 1.2511, so the technical support at the level of 1.2529 has been broken. The momentum is weak and negative, so it supports the move down, but the market conditions are starting to become […]
Technical Overview: The EUR/USD pair is trying to bounce higher after hitting the technical support at the level of 1.1206. So far the bounce was limited to the level of 1.1250 and has not even touched this technical resistance. The momentum is weak and negative, but the market conditions are now oversold, so the price […]
GBP/JPY is following the expected path lower towards the next corrective target at 134.52, where we expect the corrective decline in wave 2 from 148.87 will complete and start a new impulsive rally in wave 3 that ultimate will break back above 148.87. Short-term resistance is now seen at 136.59, which is expected to cap […]
We are looking for important support at 121.22 to protect the downside for a break above resistance at 122.13 that will confirm red wave ii being complete and red wave iii taking over for a new strong rally towards at least 124.79 and possibly even higher. Only an unexpected break below important support at 121.22 […]
EUR/USD On Monday, the euro was trading in the range of 1.1200/45, limited support for the daily MACD line and the price channel line. Now the euro is facing a choice – to increase the correctional growth to the MACD line on H4 to the price of 1.1283, or to go out of range downward […]
GBP/USD On Monday, the pound sterling reached another bearish target of 1.2530, determined as a low on December 14 of last year. If we consolidate below the level, we see the prospect of a decline towards the support of the price channel line of 1.2350. But today, the pound has the opportunity to linger above […]
