To open long positions on EURUSD you need: The absence of important fundamental statistics and weak data for the eurozone yesterday led to selling the European currency. At present, the first signal to buy the EUR/USD will be a breakdown and consolidation above the resistance level of 1.1388, which will lead to a larger upward […]
Technical analysis of GBP/USD for January 22, 2019: The bulls defend the support, but for how long? Technical market overview: The price of GBP/USD went down towards the technical support zone located between the levels of 1.2814 – 1.2832 and bounced from this zone. The bounce has hit the 50% Fibonacci retracement at the level […]
Ethereum Elliott Wave analysis for 22/01/2019: The breakout to the downside continues The wave 4 corrective pattern in the form of the triangle has been completed and the price has broken below the lower Triangle trendline already. Currently, the price is consolidating in a narrow range between the levels of 110.58 – 116.46, but the […]
Market technical overview: The bulls have been too weak to break through the orange trendline, so the Shooting Star candlestick formation has been made just below the trendline and the price moved down towards the technical support at the level of 1.1371. This support has been broken as the market has made a new local […]
With the US market closed in observance of Martin Luther King Day, we saw a very quiet trading day yesterday. We still favor minor support at 140.71 is able to protect the downside for a break above more important resistance at 141.78 that will confirm a continuation higher to 143.81 and 145.17 on the way […]
As the US market was closed for Martin Luther King Day, nothing much happened in yesterday’s trading. We still favor a more complex correction in wave ii and resistance at 124.93 being able to cap the upside for a final dip towards 122.70 to complete wave ii and setting the stage for the next impulsive […]
EURUSD has declined considerably after finding strong resistance level on the three-month high of 1.1570 on January 10. The world’s second most traded currency pair is now ready to re-test the short-term ascending trend line, which has been holding since November 12, while it dropped below the 20- and 40-simple moving averages (SMAs) in the daily timeframe. Looking at the technical indicators, the […]
The International Monetary Fund has reduced its forecasts for global economic growth for 2019 and 2020 due to weakness in Europe and in some emerging markets, and said that trade tensions could destabilize the world economy even more. This is the second decline in three months. The lender also called a more serious than expected […]
When the European market opens, some economic data will be released such as ZEW Economic Sentiment, and German ZEW Economic Sentiment. The US will also publish the economic data such as Existing Home Sales, so amid the reports, the EUR/USD pair will move in a low to a medium volatility during this day. TODAY’S TECHNICAL […]
In Asia, Japan will release the BOJ Core CPI y/y and the US will publish some economic data such as Existing Home Sales. So there is a probability that the USD/JPY pair will move with a low to a medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 110.15. Resistance. 2: 109.93. Resistance. 1: […]
The XAG/USD pair is approaching its support at 14.89 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 15.34 (50% Fibonacci retracement). Stochastic (89, 5, 3) is nearing its support at 1.4% where a corresponding bounce could occur. XAG/USD is approaching its support where we expect […]
Tonight (at about 15:30 London time) Theresa May will again try to convince the British Parliament to support her deal with Brussels. In anticipation of this event, the pound is behaving extremely cautious after a significant decline on Friday. At the end of last week, the pound slumped in a matter of hours by more […]
4-hour timeframe The amplitude of the last 5 days (high-low): 112p – 246p – 72p – 169p – 136p. Average amplitude for the last 5 days: 147p (151p). The British pound sterling continues to adjust on the first trading day of the week, January 21, but with the minimum volatility for the pair. The critical […]
4-hour timeframe The amplitude of the last 5 days (high-low): 31p – 108p – 47p – 36p – 58p. Average amplitude for the last 5 days: 56p (61p). The EUR/USD currency pair continues to move with minimal volatility on Monday, January 21. If you look at the volatility indicators for the last days, it becomes […]
The Bank of Japan will hold its first monetary policy meeting of 2019 on January 22-23, and unlike this time last year when there was a real prospect of a QE exit, policymakers will probably be discussing if or how to respond to the weakening outlook. There is no set time for the BoJ’s announcement […]
IBM’s stock price unlocked fresh one-month highs on Friday ahead of the company’s quarterly earnings results on Tuesday. Technically, the market is expected to continue the rebound off the decade lows as the RSI fluctuates positively above its 50 neutral mark and the MACD keeps strengthening to the upside and above its red signal line. An extension higher could […]
The UK labour market report for November will be watched on Tuesday at 09:30 GMT for the latest view on unemployment and wage growth in the Brexit-hit economy. While happenings in Westminster will be the main focus for investors, another solid set of jobs data could provide some support for sterling amid the deepening Brexit […]
To open long positions on the GBP / USD you pair, need: After a slight downward correction to the support area of 1.2822, buyers returned to the market, and their main task in the second half of the day will be to return and consolidate above the resistance of 1.2890, which will lead to a […]
Despite weak eurozone statistics, Canadian Imperial Bank of Commerce (CIBC) analysts remain bullish on the euro. “Eurozone statistics for the third quarter turned out to be the weakest over the past four years, which apparently explains the uncertain behavior of the single European currency. It is assumed that external trade pressure, as well as political […]
GOLD PRICES edged down on Monday, erasing 2019’s Dollar gains-to-date after the metal’s No.1 consumer nation China posted its slowest economic growth in nearly three decades, writes Atsuko Whitehouse at BullionVault. Spot gold declined for US investors to $1278 per ounce – down $20 from New Year’s spike to 7-month highs – after Beijing […]
New Zealand CPI figures will steal the spotlight on Tuesday at 2145 GMT to show that the headline inflation rate stretched lower in the fourth quarter, missing the central bank’s midpoint price target of 2.0% for 2018. That being so, and in consideration of the rising global risks, the Reserve Bank of New Zealand (RBNZ) will not rush to […]
To open long positions on EUR / USD pair, you need: Euro buyers failed to return to the resistance level of 1.1388 after the release of weak fundamental statistics on producer prices in Germany, which have fallen sharply. The main task for the second half of the day remains to be the breakdown and consolidation […]
Today, British Prime Minister Theresa May is due to submit to the House of Commons an updated plan for the country’s withdrawal from the European Union, the vote on which is scheduled for January 29. Details of the so-called “plan B” by Brexit were not disclosed. It is assumed that the head of government will […]
Large-scale graph: On a large scale graph of the yen, a rising wave model is being formed. Starting in March last year, the first 2 parts (AB) were formed so far. Medium-scale graph: Starting December 13, the impulse bearish wave completes the larger downward construction. The structure looks complete. Small scale graph: Since January 3, […]
The British pound does not get tired of confusing those who are watching him. If recently it was thought that the polar results in the form of a soft or erratic Brexit could lead the pair GBP / USD to 1.45 or 1.15, then in 2019, the increased likelihood of the second scenario, to the […]
Bitcoin is expected to move lower towards $3,350 as long as it holds below the bearish trendline. The potential breakout of support at $3,480 will confirm the next move lower towards $3,350 and $3,100. I expect the price to move to the Pitchfork median line. Only a break above the resistance at $3,670 will negate […]
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. Recent bullish spike reached the price level of 1.2999 where significant bearish rejection was […]
USD/CHF is expected to move higher towards 1.0050 as long as it holds above the upward trendline. Ideally support at 0.9930 will be able to protect the downside for a break resistance at 0.9984 that confirms the next push higher towards 1.0070 and 1.0150. Only a break below support at 0.9930 will force a recount […]
The Chinese economy in the fourth quarter did not withstand the pressure caused by a decline in domestic demand and a sharp increase in US tariffs, which led to a slowdown in growth in 2018 to its lowest level in three decades. Beijing will be forced to deploy additional incentives to prevent a more severe […]
The dollar continues to hold close to a two-week high against a basket of major currencies, investors’ appetite for risk remains, despite data on a slowdown in China’s economic growth in 2018 to a minimum of almost three decades. Hopes for a thaw in the trade conflict between the US and China, the Fed’s cautious […]
