EURGBP staged a mighty rally over the past weeks, crossing above its 50- and 200-day simple moving averages (SMAs) to touch the 0.8840 zone, before retreating somewhat. The near-term outlook seems to have turned positive, though a clear break above 0.8840 is needed to confirm that. Short-term momentum indicators, on the other hand, suggest a […]
The threat of an escalation of the US and Celestial trade war triumphed the greenback and hit primarily on the positions of the currencies of developing countries. Based on the reports of Bloomberg, the salvo released by Donald Trump on May 10 for Chinese imports in the amount of $200 billion helped the US currency […]
Overview: The USD/CHF pair continues moving in a bullish trend from the support levels of 1.0123 and 1.0177. Currently, the price is in an upward channel. This is confirmed by the RSI indicator signaling that the pair is still in a bullish trend. As the price is still above the moving average (100), immediate support […]
Overview: The USD/CAD pair continues to move upwards from the level of 1.3457. The pair rose from the level of 1.3457 (the level of 1.3457 coincides with a ratio of 61.8% Fibonacci retracement) to a top around 1.3505. But it rebounded from the top pf 1.3505 to 1.3477. Today, the first support level is seen […]
Business growth in the eurozone has accelerated but it is difficult to call it good news for the euro. The rise was minimal due to the ongoing downturn in the manufacturing industry. The data confirms the words of the ECB President Mario Draghi about the need for “greater support for the eurozone economy.” The IHS […]
The dollar has updated the monthly maximum and is not going to stop; the economic and political uncertainty that has swept Europe and Asia is pushing the “American” up and putting pressure on most major currencies, including the euro and the yuan. The problems of German production, the consequences of the trade war for Asian […]
CADJPY has been finding strong resistance on the 82.60 barrier, falling beneath the 20-simple moving average (SMA) in the daily chart. Since mid-January, the pair has been trading within a narrow range between the 61.8% Fibonacci of the downleg from 89.25 to 76.60, near 84.40, and the 80.90 support. Having a look at the momentum indicators, the RSI is pointing down below the neutral […]
The next highlight for the dollar will be the release of US durable goods orders for April, on Friday at 12:30 GMT. Forecasts point to a soft set of data, possibly due to weakness in demand for commercial aircraft. While a disappointment may hurt the dollar on the news, the broader outlook for the greenback […]
Copper futures with delivery on July 2019 are falling below the 20- and 40-simple moving averages (SMAs) in the daily chart. Moreover, the technical indicators remain in bearish territory, with the RSI sloping down in oversold zone and the MACD oscillator is still endorsing the bearish view as it is weakening below its trigger line. […]
According to some analysts, the black gold market is preparing for a large-scale collapse. Experts believe that the first alarming bell is the collapse of quotations by more than 2%. This is the most significant drop in the last two weeks, experts remind. Prices for black gold began to fall in the morning on Thursday, […]
The minutes of the May meeting of the Fed, promulgated on Wednesday, as we expected showed the desire of the American regulator to continue to take a wait-and-see attitude towards monetary policy. Recall that following the meeting, the Fed decided to leave the key interest rate unchanged and announced that it will closely monitor the […]
EUR / USD On Wednesday, May 22, trading on the EUR / USD pair ended with a decline of 10 basis points. The wave pattern of the instrument does not change completely, as the euro drops by 10-20 bp each day, continuing to build a downward wave, presumably 3, 3, 3. Markets can only remain […]
For the last trading day, the currency pair pound / dollar showed volatility which is almost equal to the average daily 95 points, as a result of maintaining the downward interest in the market. From the point of view of technical analysis, we have a complete coincidence of the previously laid out forecast. The quote […]
Listen, all the popcorn has already been eaten and they continue to aggravate the situation. The leader of the House of Commons has already resigned because of her disagreement with Theresa May’s new plan in agreement with the European Union. Andrea Linds stated that she categorically disagreed with the possibility of holding a referendum on […]
Panic sales are again on the agenda. If the decline in the US stock indices is still insignificant, the S&P 500 declined on Wednesday by 0.28%. Consequently, Asian sites are falling much more pronounced. The Nikkei is losing by 0.7%, the Shanghai Composite by more than 1%, the July futures for Brent have come close […]
NZDUSD has been in a strong bearish rally over the last two months, reaching a fresh seven-month low of 0.6482 earlier today. What remains to be seen is if the bears have enough fuel to continue this sharp negative movement as the technical indicators are suggest the opposite. The MACD and the stochastics are ready […]
Sterling hammered on expectations PM May could resign soon German PMIs disappoint – euro may stay under pressure Risk aversion deepens as markets fear ‘new cold war’ Fed minutes reaffirm neutral stance, dollar advances No reprieve for sterling as May fights for political survival The British pound continues to be hammered by political uncertainty, with […]
On Thursday morning, sellers pushed the EURUSD rate near the support area of 1.1110 – 1.1130 – at the time of 7:40 London time. The euro showed a low of 1.1133 The picture looks like an attempt to break down is inevitable. The Fed’s “minutes” came out on Wednesday – reports from the last Fed […]
To open long positions on GBP/USD you need: Yesterday’s resignation of the leader of the House of Commons hit the pound positions, but buyers have a chance for a correction. This requires a quick return to the resistance level of 1.2670, from which you can count on the demolition of a number of sellers’ stop […]
To open long positions on EURUSD you need: Volatility is very low, and, most likely, the pressure on the euro will continue. From a technical point of view, nothing has changed from yesterday. It is best to return to long positions after updating a large support level at 1.1143, provided that a false breakdown is […]
On Tuesday, the market in both currencies moved down. For the pair GBP / USD, the price moved down confidently, testing the rollback level of 76.4% – 1.2662 (blue dashed line). For the EUR / USD pair, it moved down in the side channel, tested the support line – 1.1150 (blue bold line) once again. […]
Technical Market Overview: After the big Pin Bar candlestick with a high at the level of 1.2811 (Fakey) on the GBP/USD market, the bears have again pushed the prices lower towards the level of 1.2614. It means the bulls are still too weak to start any meaningful upward correction and the move down continues despite […]
Theresa May’s last-ditch attempt to secure support for her hard-fought Brexit deal failed dramatically on Tuesday with the beleaguered UK prime minister facing strong criticism from opposition parties as well as her own MPs. The pound has slumped on the overwhelmingly negative response to May’s tweaked Brexit offer to Parliament as a disorderly exit from […]
USDJPY paused its buying interest from 109.00 earlier this week, touching the 23.6% Fibonacci retracement level of the upleg from 104.64 to 112.40, around 110.60. The price was capped by the 20-day moving average, which is acting as a strong resistance obstacle, while the technical indicators are moving lower. The RSI is pointing down in […]
Technical Market Overview: The EUR/USD market keeps trying to break through the technical resistance zone located between the levels of 1.1167 – 1.1174, but no avail so far. There were some attempts to rally but were quickly capped by the bears. The short-term outlook remains bearish and there is no signs or any trend reversal […]
Crypto Industry News: According to TASS, the Central Bank of Russia believes that the bill regulating cryptocurrencies is sufficiently prepared to be adopted in spring 2019. Olga Skorobogatova, the first deputy governor of the Russian central bank, said that the bank expects the adoption of the “On Financial Financial Assets” (DFA) cryptographic act during the […]
Crypto Industry News: The Israeli judge ruled that Bitcoin is capital, not currency, as reported by the local Globes news site. The decision is significant because it means that the profits from the sale of cryptocurrencies will now be subject to capital gains tax. Noam Copel, who founded the Starup Blockchain DAV, bought Bitcoins in […]
USD / JPY pair On Wednesday, the USD/JPY pair lost 13 points after testing the support line, which was recently resistance. Here, the price checked the strength of two technical lines at once with the red lowering price channel and the green rising. The daily scale Marlin oscillator signal line did not react to this […]
Morning Report: 07.00 London This morning, the British pound is extending its record losing run against the euro as May’s Premiership teeters on the brink. The EUR/GBP reversed early losses yesterday, with follow-on buying today as the pair holds above 0.8800. The GBP/JPY is firmly below 140, while the GBP/USD continues to slide, sitting below […]
EUR/USD The publication of the FOMC Fed minutes on Wednesday evening did not affect the general mood of investors. The committee considers the current rates to be balanced; in the long run, even a reduction in the base rate is possible. In the current political situation, we believe that even if the Fed lowers the […]
