Australia’s employment report for the month of December is coming out on Thursday at 0230 GMT but the results are not expected to affect the RBA’s steady policy stance. Nevertheless, aussie traders will still look at the numbers to confirm that the labor market remains a source of stability at a time when global risks […]
BTCUSD continues to trade within the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, indicating flat movement. The sideways action is also supported by the horizontal Tenkan-sen line. However, momentum signals seem to be slightly bullish as the blue Kijun sen line remains below price action and the light green Chikou span is ready […]
GOLD PRICES fell back below last week’s closing level of $1280 per ounce in London on Wednesday, trading unchanged for 2019 so far as rumors said the UK’s opposition Labour Party is moving to block a “no deal” Brexit when the country’s quits the European Union on 29 March. Gold priced in Sterling fell […]
The Japanese yen declined in overnight trading after Bank of Japan released its interest rates decision. The bank left interest rates unchanged and lowered its inflation rate target. As expected, the central bank left rates in the negative territory and didn’t show signs that it will hike this year. The country has maintained negative interest […]
Platinum is an important precious metal in the automotive industry. It is used as a catalytic converter in vehicles. As a converter, the metal is used to reduce carbon emissions in automobiles. Indeed, most of the palladium is used for this purpose. The metal is found deep inside the earth’s crust and is mined by […]
Soybeans are some of the most important agricultural commodities in the United States. They are planted in a number of states such as Illinois, Iowa, and Minnesota. In recent months, the price of the soybeans has been in focus as the world has been engaged in a trade dispute. This is because China is the […]
On December 12, the previously-dominating bearish momentum came to an end when the GBP/USD pair visited the price levels of 1.2500 where the backside of the broken daily uptrend was located. Since then, the current bullish swing has been taking place until January 17 when significant bearish rejection was demonstrated around 1.2999 (Bearish Engulfing candlestick […]
The US 500 stock index found strong support level at the 50-day simple moving average (SMA), creating two consecutive red days, after the aggressive upside rally from the 19-month low of 2,332. The short-term technical indicators support this notion as the RSI is marginally pointing upwards in the positive area, while the MACD lies above trigger and […]
To open long positions on the GBP / USD pair, you need: Statements by the Minister of Commerce of Great Britain saying that it was impossible to work out and implement the deal by March 29 led to the strengthening of the pound in the first half of the day, as many traders expect to […]
Since June 2018, the EUR/USD pair has been moving sideways with a slight bearish tendency. Narrow sideway consolidations have been maintained within the depicted Flag Channel (In red). On November 13, the EUR/USD pair demonstrated recent bullish recovery around 1.1220-1.1250 where the current bullish movement above the depicted short-term uptrend (In blue) was initiated. Bullish […]
To open long positions on EUR / USD pair, you need: The situation did not change compared to the morning forecast. The first signal to buy EUR / USD will be the breakdown and consolidation above the resistance level of 1.1376, which will lead to a stronger upward correction in the area of the maximum […]
Trading recommendations: Nothing has changed since my yesterday’s analysis. BTC has failed to reach the Pitchfork median line, which is a sign that sellers are loosing power and the demand may increase. There is also a breakout of the Pitchfork diagonal (resistance) which is another confirmation of strength. The key support at the price of […]
Gold is expected to move higher towards $1,294.00 (resistance cluster) as long as the support at $1,276.00 is holding. Gold failed to test the Pitchfork median line, which is a sign that selling power is waning. Only a break below support at $1,276.00 will change this bullish trading idea and stop us for our bullish […]
As I expected the GBP/USD pair traded higher and met my first yesterday’s target at the price of 1.3000. The momentum is still strong on the upside and GBP/USD is going towards the second objective target at the price of 1.3080. The upward Andrew Pitchfork channel is giving us well defined levels of support and […]
Intel will report its earnings for the latest quarter on Thursday, after the US market close. Given that demand has been rising so fast the company has been unable to meet all of it, risks seem tilted towards a beat in earnings and revenues, as opposed to a disappointment. That said, besides the earnings figures, […]
Large scale graph: The bearish wave has set the direction of the cross trend for the last year and a half. The coincidence of several factors at once such as the completeness of the wave structure, the achievement of strong support and the presence of a reversal pattern indicate a quick change in the trend […]
Overview: The NZD/USD pair breached resistance which had turned into strong support at the level of 0.6705 this week. The level of 0.6705 coincides with a golden ratio (61.8% of Fibonacci), which is expected to act as major support today. The RSI is considered to be overbought, because it is above 70. The RSI is […]
Overview: The EUR/USD pair opened below the weekly pivot point (1.1393). It continued to move downwards from the level of 1.1393 to the bottom around 1.1335. Today, the first resistance level is seen at 1.1393 followed by 1.1426, while daily support 1 is seen at 1.1335. Furthermore, the moving average (100) starts signaling a downward […]
EUR/JPY has been consolidating below 125.00 area after an impulsive bounce off the 121.00 support area. EUR has been weighed down by the BREXIT uncertainty and worse-than-expected economic reports which lead to EUR’s weakness against JPY. EUR has been hurt by the recently published economic reports which did not support the impulsive bullish momentum further […]
As you can see on the two-day chart, there’s a huge bearish double zigzag pattern, which could be wave (2). Previously, we had a massive bullish rally in impulsive wave (1). Also, we’ve got a finished zigzag in wave Y of (2), as shown on the 480-minute chart on the right. In this case, we’re […]
The volatility of the EURUSD pair has fallen to the lowest values in recent days – the market is preparing to move. There are still three main subjects – and none is resolved until the end: 1) the Shutdown in the US – the vote in the Senate on the way out of the budget […]
The three-month standing of the euro in the range is coming to an end – important events will force the euro to go out of range and look for a new equilibrium zone. There are three such events: 1) The crisis of the US budget – in the US Senate, a vote on the proposals […]
To open long positions on GBP/USD you need: The pound continues to show a slight increase against the background of statements by the British Prime Minister Theresa May on the changes in Brexit, but there is no support from the major players yet. While trading is above support at 1.2944, the demand for the pound […]
To open long positions on EURUSD you need: Yesterday’s weak data for the euro area led to selling the European currency, but a larger downward movement did not happen. At present, the first signal to buy EUR/USD will be a breakdown and consolidation above the resistance level of 1.1376, which will lead to a stronger […]
Wave counting analysis: On January 22, the GBP / USD pair rose 65 bps. The estimated wave completed with its construction, as well as the entire three-wave segment of the trend. At the same time, the breakthrough of the Fibonacci level of 76.4% will lead to the complication of the uptrend of the trend, which […]
Wave counting analysis: On Tuesday, January 22, trading ended for EUR / USD by 10 bpts. Thus, the tool remains within the framework of the construction of the proposed wave 4, in s. If this is true, then the increase in quotations will resume in the near future as part of wave 5 with targets […]
EURJPY has been moving sideways over the last three weeks with upper boundary the 125.05 resistance and lower boundary the 123.40 support. Currently, the mid-level of the range is the 38.2% Fibonacci retracement level of the downleg from 133.10 to 118.57, around 124.10, where the price has been trading above it since January 17. According […]
Risk appetite remains weak as trade and growth concerns resurface BoJ stays on hold, provides no new signals – yen yawns Kiwi outperforms as New Zealand’s inflation prints beat estimates Growth and trade woes keep investors on the defensive Market sentiment remained fragile on Tuesday, with investors cutting their exposure to riskier assets and diverting […]
On Wednesday, the price will move up. The first upper target of 1.1392 is the recoiling level of 23.6% (yellow dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis – up; – trend analysis – up; – Bollinger lines […]
Large scale graphics: The latest current wave design of the cross is ascending, starting from September 10th. It is formed along a powerful support zone. The structure in recent months takes the form of the middle part (B), which has a high chance to break through the level of the beginning of the entire wave. […]
