US dollar swings sharply after Powell tones down Fed’s dovish statement Hawkish Powell puts dent on equities rally Pound holds near highs ahead of Bank of England meeting as hopes rise May will agree to a customs union Rate cut bets ease after Powell’s press conference The Federal Reserve kept interest rates on hold yesterday […]
To open long positions on EURUSD you need: Yesterday, euro buyers were disappointed with the Fed chairman’s statements, who spoke rather optimistically about the prospects for the US economy, which led to a decrease in EUR/USD. At the moment, buyers are required to return and consolidate above the resistance of 1.1215, which will return hope […]
Technical Market Overview: The EUR/USD pair has made a trend reversal candlestick pattern called Bearish Engulfing after the 61% Fibonacci retracement was hit and tested. The local high was made at the level of 1.1264, but the big reversal candle closed close to the end of the range, so the reversal signal is clear. The […]
Technical Market Overview: The Bearish Engulfing candlestick pattern made at the GBPUSD pair at the level of 1.3101 indicates a potential trend change. Moreover, the market conditions are now overbought and the momentum indicator is pointing down. The key technical resistance zone located between the levels of 1.3121 – 1.3131 has not been tested yet […]
Technical outlook: The EUR/USD pair rose to 1.1260 levels yesterday, slightly higher than expected, before reversing sharply in the New York Session. At this point in time, the currency pair is seen to be trading around 1.1190/95 levels, looking to push lower towards 1.1020 levels as discussed earlier. Another probable wave count suggests that EUR/USD […]
Morning Report: 07.00 London The US dollar index was boosted yesterday as the FOMC quashed any speculation of a rate cut, downplaying inflation fears. There is a rebound of sorts this morning though. Dollar pairs are in recovery mode after selling off yesterday. The AUD/USD dropped back towards support at 0.7000. The EUR/USD was volatile, […]
AUDUSD has been struggling in a tight range over the last three months with upper boundary the 0.7200 psychological level and lower boundary the 0.7000 handle. During the preceding week the price tried to break lower, posting a new four-month low of 0.6987, but it failed once again to end the day below the consolidation […]
USDJPY met heavy resistance from the soft descending line drawn from the 114.54 top last week, ending bullish action at a four-month high of 112.39. The pair is currently fluctuating around its 200-day simple moving average (SMA), with momentum indicators pointing to a neutral-to-bullish short-term trading; the red Tenkan-sen is flat slightly above the blue Kijun-sen, while the RSI […]
Dear colleagues. For the currency pair Euro/Dollar, the continuation of the upward trend in the scale of H1 is expected after the breakdown of 1.1236 and the level of 1.1171 is the key support. For the currency pair Pound/Dollar, we continue to monitor the development of the upward structure from April 25 and the level […]
AUD / USD pair The correctional growth of the “Australian” turned out to be short for only 3 days, and it was reliably kept by the balance line of the daily scale. After yesterday’s Fed decision to keep the current monetary policy unchanged for an indefinitely long time, the Australian dollar lost 35 points. On […]
EUR/USD On Wednesday, ahead of the Fed’s announcement on its decision on the rate, and in the first half hour after it, the dollar weakened due to some concerns over the low inflation. But with the speech of Fed Chairman Jerome Powell, the dollar began to strengthen against all markets, as he mentioned that there […]
GBP/USD Yesterday, the British pound tried to go beyond the resistance of the balance and MACD indicator lines on the daily scale, but was stuck in the resistance and failed to reach the 1.3125 – 50% correction from the movement since March 13 The day closed below the MACD line and under the Fibonacci level […]
USD / CAD pair Yesterday, the Canadian dollar made a U-turn upside from the MACD indicator line with a confirmatory signal of the marlin oscillator, which its signal line transitions into a zone of positive numbers into a trend growth zone. The price also went above the red indicator line of balance, which means a […]
Price broke our resistance line and we might see a further rise above our first support level to our first resistance level. Ichimoku cloud is also showing signs of bullish pressure. Entry : 1.3013 Why it’s good : horizontal overlap support, 38.2% fibonacci retracement Stop Loss : 1.2979 Why it’s good : 50% fibonacci retracement […]
Price is approaching a key resistance at 145.73 where it could potentially reverse to its support. Entry : 145.73 Why it’s good : horizontal swing high resistance, 61.8% fibonacci retracement, 100% fibonacci extension Stop Loss : 146.36 Why it’s good : 78.6% Fibonacci retracement Take Profit : 145.01 Why it’s good : 38.2% fibonacci retracement, […]
Price is approaching a key resistance at 111.608 where it could potentially reverse to its support. Entry : 111.608 Why it’s good : horizontal swing high resistance,38.2% fibonacci retracement, 61.8% Fibonacci extension Stop Loss : 111.910 Why it’s good :61.8% fibonacci retracement,100% Fibonacci extension, horizontal swing high resistance Take Profit : 111.045 Why it’s good […]
According to analysts of the largest bank Morgan Stanley Wealth Management, the markets underestimate the risks associated with rising oil prices. Investors are careless over this fact, although they should purchase low-cost energy stocks to hedge their portfolios so as not to lose. At the beginning of this week, the situation on the stock markets […]
The stabilization of gold on the eve of the announcement of the FOMC meeting’s results reminds us of the calm before the storm. The precious metal has always been sensitive to the Federal Reserve’s decisions, and now it does not know how to behave because the US central bank’s position is not as transparent as […]
After a few weeks of lull, the topic of Brexit once again emerged. The information vacuum formed around this topic put quite a lot of pressure on the pound. Traders reacted to a wide variety of rumors regarding the prospects of the “divorce process.” Most of them were negative, so over the past two weeks, […]
Gold price as expected since $1,270 has bounced for a back test of the major support area of $1,280-90. Now there are a lot of chances that the entire back test is over as bulls remain too weak to break above $1,290-$1,300. The next leg down should follow soon. Blue line – major resistance trend […]
EURUSD bounced as expected towards 1.12 and closer to the upper channel boundary and got rejected. Medium-term trend remains bearish as long as we trade below 1.1350 and any bounce is still considered as selling opportunity. Black lines – wedge pattern Red lines – bearish channel EURUSD remains inside the red bearish channel since 1.1550 […]
Few weeks ago, a bullish Head and Shoulders reversal pattern was demonstrated around 1.1200. This enhanced further bullish advancement towards 1.1300-1.1315 (supply zone) where significant bearish rejection was demonstrated on April 15. Short-term outlook turned to become bearish towards 1.1280 (61.8% Fibonacci) then 1.1235 (78.6% Fibonacci). For Intraday traders, the price zone around 1.1235 (78.6% […]
On January 2nd, the market initiated the depicted uptrend line around 1.2380. On March 11, a Weekly bearish gap pushed the pair below the uptrend line (almost reaching 1.2960) before the bullish breakout above short-term bearish channel could be achieved. Shortly after, the GBPUSD pair demonstrated weak bullish momentum towards 1.3200 then 1.3360 where the […]
BTC has traded upward as we expected. The price tested the level of $5.610. Anyway, there is a strong resistance near $5.610 and our advice is to watch for potential selling opportunities. Purple rectangle – Swing high (resistance) Smaller yellow channel – short-term channel BTC did stop going upward exactly at the resistance and the […]
EURUSD traded higher as we expected yesterday. The price tested the level of 1.1239. The bearish divergence on the oscillator is building but the price is still trading in the well-defined upward channel. Orange rectangle – 20EMA acting like support Green lines – Upward channel Purple rectangle – Strong resistance based on price action EURUSD […]
Gold did test again the key short-term support cluster at the price of $1.278. We expect further upward movement and potential test of upper references. Yellow rectangle – Short-term resistance, which became key support Blue moving average – 20EMA acting like support Green rectangle – Resistance based on price action Green rectangle – Resistance 2 […]
Bitcoin has been extending a climb with proper sustainability along the way towards $5,500, though the price is making downward corrections along the way. There are no weighty reasons for Bitcoin to disrupt the bullish bias. Thus, BTC is expected to develop a steady rally with a target towards $6,000. The price clearing above the […]
Overview: The NZD/USD pair is showing signs of weakness following a breakout of the lowest level of 0.6648. On the H1 chart. the level of 0.6648 coincides with 23.6% of Fibonacci, which is expected to act as minor support today. Since the trend is below the 23.6% Fibonacci level, the market is still in a […]
Overview: The USD/CAD pair continues to move upwards from the level of 1.3368. In April, the pair rose from the level of 1.3368 (the level of 1.3228 coincides with a ratio of 38.2% Fibonacci retracement) to a top around 1.3519. But it rebounded from the top pf 1.3519 to 1.3370. Today, the first support level […]
EUR/USD Over the past six months, a complex upward corrective pattern has been developing on the European currency chart. The unfinished wave of short-term scale is bearish, starting from March 20. By the current day, it forms the final part (C), within which, in turn, an upward corrective pullback is completed. The price of the […]
