EUR / USD On Monday, May 20, trading on the Forex market ended for the pair EUR / USD with a rise of several base points. However, the wave pattern remains the same and implies the construction of a downward wave of 3, 3, 3 as part of a downward trend section with targets located […]
For the last trading day, the currency pair pound / dollar showed an extremely low volatility of 42 points, remaining, to put it in a strictly speaking manner, in one place. From the point of view of technical analysis, we see a rather sharp slowdown after the quotation has gone down to the value of […]
There is a lull in the news field. No big events. A new wave around Brexit is sluggishly developing. Until June, the issue of the US-China trade war remains uncertain. EURUSD The rate of the euro is very slow, but it is declining under pressure from sellers. The euro came close to the lower limit […]
Aussie gives up election gains as RBA rate cuts come in focus US calms nerves by temporarily easing sanctions on Huawei Dollar advances as other currencies lose shine Aussie reverses lower as RBA rate cut bets soar The election-related boost that the aussie received yesterday proved short-lived, with the currency giving back nearly all its […]
The deterioration of relations between the United States and China in the wake of growing pressure from Washington, which is claiming Beijing about American intellectual property, has a strong negative impact on the demand for risky assets, primarily for the shares of companies. Against this background, the local high-tech sector in the United States fell […]
Morning Report: 07.00 London The Australian dollar is on the back foot this morning after the RBA hinted that a rate cut could be coming as early as June. The AUD/USD is back near the lows, having closed yesterday’s opening gap higher and trading at 0.6875. The AUD/JPY is following suit, having completely closed Monday’s […]
GBPJPY continued with losses for the second week in a row, dropping to a four-month low of 139.53 last Friday and near a key support area before turning neutral. The RSI in the four-hour chart continues to lack direction while remaining in bearish area and the red Tenkan-sen keeps flattening below the blue Kijun-sen line, reducing chances for a meaningful recovery in the short-term. However, should the […]
GBPUSD sank to a fresh four-month low of 1.2708 today, creating a strong negative rally after the pullback on 1.3175. The negative bias in the near term is supported by the deterioration in the momentum indicators. The %K line of the stochastic oscillator has fallen sharply into oversold levels and is attempting a bullish crossover […]
Inflation and retail sales numbers for April will be reported out of the United Kingdom this week, but with political uncertainty running high, the focal point for traders will likely be the outcome of the European Parliament elections. The CPI and retail sales data are due on Wednesday and Friday, respectively, at 08:30 GMT, while […]
To open long positions on GBP/USD you need: The speech of the governor of the Bank of England can return the pressure on the British pound in the first half of the day, as it will be a question of interest rates and inflation. At present, it is best to return to long positions only […]
To open long positions on EURUSD you need: The pair’s situation is uncertain. It is best to return to long positions after updating a large support level at 1.1138, from where you can expect an upward correction to return to a high of 1.1180, above which you can reach the resistance of 1.1205, where I […]
USDJPY managed to regain certain momentum since the bounce off the 109.00 area while being in a preceding bearish trend. JPY struggled to maintain momentum after the release of weak economic data which undermined the market sentiment against USD. The US economy is slightly affected by the Trade War. Mixed economic reports showed a certain […]
Technical Market Overview: After making the local low at the level of 1.1150, the EUR/USD pair has tried to bounce or even rally higher, but this attempt was capped at the technical resistance zone located between the levels of 1.1167 – 1.1173 and the price reversed. The short-term outlook remains bearish and there is no […]
Technical Market Overview: The GBP/USD pair is still trading close to the technical support at the level of 1.2705, but no breakout was made yes as the market conditions are extremely oversold. Moreover, the price is still out of the channel zone and does not look like the bulls have enough power to get back […]
Crypto Industry News: The European Central Bank (ECB) said that cryptocurrencies are not currently a threat to financial stability in the Eurozone. In his last article on the subject, the ECB said that the total value of cryptocurrencies is small compared to the financial system, and the links with the financial sector are still limited. […]
Crypto Industry News: Co-founder of Fundstrat Global Advisors, Tom Lee, claimed in a tweet that the crypto-winter came to an end. In the news, Lee said that last week’s Consensus conference in New York was the latest of 13 signs indicating that the industry is recovering after a difficult few months. Its schedule of events […]
EUR/USD On Monday, the euro slightly wavered on supporting the Fibonacci level 110.0% of the movement branch from September 24 to November 12 of the previous year. The delay made it possible for the marlin oscillators on the daily and H4 charts to discharge even more, in order to continue the decline with new forces. […]
USD / JPY pair The situation around the Chinese company Huawei has strongly affected the Japanese yen. Its price has fulfilled the target area between the lines of the ascending and descending channels this morning, as a sensation is created. It is trying to consolidate above yesterday’s maximum, which will automatically lead to anchoring above […]
GBP/USD On the first day of the week, the pound sterling did not show any activity, ending the day with conditional consolidation on a four-hour chart. The technical situation for this day has not changed, only the marlin oscillators on both considered charts have slightly increased, which is interpreted as the discharge of the indicator […]
Forecast for May 21: Analytical review of H1-scale currency pairs: For the euro / dollar pair, the key levels on the H1 scale are: 1.1222, 1.1212, 1.1197, 1.1184, 1.1156, 1.1144 and 1.1112. Here, we continue to follow the development of the downward structure of May 13. Short-term downward movement is expected in the range of […]
Entry : 1.0123 Why it’s good : Horizontal overlap resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension Stop Loss : 1.0158 Why it’s good : horizontal overlap resistance, 61.8% Fibonacci retracement Take Profit : 1.0008 Why it’s good : 61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap support The material has been provided by InstaForex Company […]
Price is approaching resistance area at 0.6963 where it could potentially reverse to its support at 0.6903. Entry : 0.6963 Why it’s good : horizontal pullback resistance, 100% Fibonacci extension, 50% Fibonacci retracement Stop Loss : 0.7021 Why it’s good : horizontal swing high resistance Take Profit : 0.6903 Why it’s good : 61.8% Fibonacci […]
USDJPY near key resistance, a drop to first support is possible Entry: 110.32 Why it’s good : 100% Fibonacci extension, 38.2% & 61.8% Fibonacci retracement, horizontal swing high resistance Stop Loss : 111.051 Why it’s good :61.8% Fibonacci retracement,horizontal overlap resistance Take Profit : 109.05 Why it’s good: 100% Fibonacci extension, horizontal swing low support […]
Last week was much more successful for the dollar than the previous one, especially if you look at the single European currency, which seems to have tried to strengthen its position, but again started to weaken. Frankly, the reasons for dollar’s success is largely due to the fact that the UK has once again remembered […]
The British pound opened the week with a downside and remains one of the main outsiders of the foreign exchange market. Last week, the GBP/USD pair’s loss exceeded 250 points. It is expected that in the coming session the pressure on the sterling will continue. However, on Monday during European trading, the British currency managed […]
The White House believes that you can sacrifice your ideas about the benefits of a weak dollar for the country’s economy in favor of the revision of the terms of trade with Beijing. According to the presidential administration, China will sooner or later agree to a deal, since it is not in its interest to […]
Despite the fact that trade tensions in the world are increasing, and the global economy is on the verge of a recession, gold remains under pressure. Apparently, market participants still prefer other defensive assets, like the yen and the US dollar, which reduces the potential for the yellow precious metal to recover its value. Many […]
At the beginning of last week, the dollar-yen pair reached a 5-month low, recording 109.05. But then the price bounced off from the bottom of the price and returned to the 110th figure. Today, USD/JPY bears made another attempt to decline, dropping to the target of 109.80. Such fluctuations were a result of, above all, […]
4-hour timeframe The amplitude of the last 5 days (high-low): 100p – 69p – 97p – 64p – 86p. Average amplitude for the last 5 days: 83p (77p). More than a day has passed since Theresa May’s statement that she is preparing a new “bold” proposal for the Brexit deal to Parliament, but no new […]
4-hour timeframe The amplitude of the last 5 days (high-low): 42p – 43p – 47p – 58p – 29p. Average amplitude for the last 5 days: 44p (46p). As is often the case on Mondays, especially when there are no planned macroeconomic reports in countries whose currencies converge in one pair, volatility has dropped to […]
