After losing 40% of its value at the end of 2018, oil managed to be noted as the best start in the last 18 years, quickly flying up to an 8-week maximum amid a reduction in deliveries by OPEC and other producing countries by 1.2 million b / d ending the US and Celestial trade […]
Overview: Pivot point: 0.7112. The AUD/USD pair is set above strong support at the level of 0.7046 which coincides with the 23.6% Fibonacci retracement level. This support has been rejected four times confirming the veracity of the uptrend. Hence, major support is seen at the level of 0.7046, because the trend is still showing strength […]
The dollar was at a level of almost three weeks high on Tuesday, investors are attracted by the relative safety of the US currency after the International Monetary Fund reduced its forecasts for the global economy in 2019 and 2020. However, despite the confident start of the year, there is a reason to believe that […]
Overview: The USD/CHF pair faced resistance at the level of 1.0031, while minor resistance is seen at 0.9987. Support is found at the levels of 0.9884 and 0.9819. Also, it should be noted that a daily pivot point has already set at the level of 0.9939. Equally important, the USD/CHF pair is still moving around […]
Oil futures retreated from a one-and-a-half-month high of 54.50 on Tuesday, touching the 20-simple moving average (SMA) in the 4-hour chart. The very short-term bias looks negative as the MACD keeps losing ground below its red signal line, while the RSI seems to be making its way down to retest its 50-neutral mark. Should bearish […]
While some experts believe that after the failure of the British parliament’s Brexit plan, promoted by Prime Minister Theresa May, the chances for the United Kingdom to leave the European Union significantly increased, others argued that the recent defeat of the head of the government referendum. As for T. May herself, announcing yesterday the further […]
Large-scale graphics: The vector of movement of the dollar since February last year is set by a wave of a bullish trend. In the structure of the wave, the conditions for the final breakthrough (C) are prepared. Medium scale graphics: The descending wave of November 13 took the place of correction in a larger wave […]
The market has been declining since an upward impulse in wave (A) finished. Previously, we had a large zigzag in wave ((W)). Considering there’s a downward five-wave price movement form the last high in wave A, wave (B) is likely going to take the form of a zigzag. If correct, we’re going to have the […]
The euro yesterday continued to decline in tandem with the US dollar after the release of a weak report on producer prices in Germany, which fell sharply at the end of last year. According to the report, the producer price index in Germany in December 2018 fell by 0.4% compared with November, while on an […]
The sterling has been one of the most watched currencies this year. This is because of the ongoing Brexit uncertainty in the United Kingdom. As you recall, Theresa May has been negotiating a Brexit deal with the European Union for the past two years. The deal was supposed to make it easier for the two […]
The EUR/JPY cross is an important one because of the size of the underlying economies. The combined EU economy is the second largest in the world after the US while Japan is the third largest independent economy after the US and China. This week, investors will focus on the two economies as the respective central […]
Wave counting analysis: On Monday, January 21, bidding ended for the pair EUR / USD by 3 bp, however, the decline in quotations has already resumed within the expected wave 4, c, which takes a very long look. This may lead to the need to make adjustments to current wave marking. A tool reduction below […]
Wave counting analysis: On January 21, the pair GBP / USD rose 20 bps. Estimated wave completed with its construction. If this assumption is true, then the decline in quotations will continue with targets located near the levels of 38.2% and 23.6% Fibonacci. The news background is again on the side of the dollar, since […]
Trend analysis (Fig. 1). On Tuesday, work down with average low target 1.2803 – 21 average EMA (black thin line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – down; – candlestick analysis – down; – trend analysis – down; – Bollinger lines – down; […]
IMF downgrades growth forecasts; stocks feel the pinch May keeps “no-deal Brexit” scenario alive Oil reverses lower amid signs of slowing global economy Risk appetite stays bearish amid heating global growth fears Stocks in Asia had another weak session on Tuesday as pessimism about global growth kept funds away from risky assets, with Chinese equities […]
On the way down, the price may encounter the first goal – the fourth point of the young support line 1.1342 (red thin line). Trend analysis (Fig. 1). On Tuesday, the price will move down. The first lower target 1.1442 is the support line (red thin line), then roll back up is possible. Fig. 1 […]
GBPUSD has found a strong resistance obstacle on the significant psychological level of the two-month high of 1.3000, reached on January 17. However, Cable has been trading within the 1.3000 and the 1.2855 zone over the last week, which is the 23.6% Fibonacci retracement level of the downleg from 1.4375 to 1.2390. The short-term bias looks neutral as the MACD keeps […]
EUR/USD remains weak inside a bearish short-term channel continuing its move towards 1.1320 and the important upward sloping trend line support. Bulls need to react soon and recapture at least 1.14 in order to remain alive. Bears on the other hand want to break below 1.13 in order to confirm that a major top is […]
On Monday, the euro continued to remain under pressure from sellers, but the downward movement on Tuesday morning is minimal – this gives some chances for a turn upwards. The three major news topics have not yet received permission, namely: The Shutdown in the United States – the Democrats said they were not ready to […]
Trading plan for 22/01/2019: In the absence of other topics, investors express fears over global recovery and shift focus away from risky assets. The stock markets are dominated by the bearish trend. Gloomy mood fueled the latest IMF report, which reduced global growth forecasts for 2019 and 2020, justifying the decision with lower than expected […]
GBP/USD On Monday, the British pound touched the support of the Krusenstern line on a daily scale and slightly adjusted upwards. Today we are waiting for a second price attempt to gain a foothold under this line, that is, under the low of yesterday (1.2830). Success will allow the price to decline with the support […]
Gold price got rejected at $1,300 and broke the triangle pattern downwards. Our target remains $1,272 area and the 38% Fibonacci retracement level. Bulls will need to react from this support area. Green rectangles – support areas Green line – long-term trend line support Gold price is moving towards the 38% Fibonacci retracement level and […]
USD/JPY On Monday, the yen made an attempt to consolidated above the green trend line of the upward price channel on the daily scale chart. Today in the Asian session, the price began to decline at the risk of going below this line. On the daily and four-hour charts, the Marlin oscillator signal line touches […]
Morning Report: 07.00 London The dollar index is on the rise as traders seek out reassurance following the IMF’s cut to global growth forecasts. The AUD/USD is slipping back from the 0.7200 level, making losses for the third day in a row. The EUR/USD continues to reverse from the failed assault on the 1.1500 level […]
To open long positions on GBP/USD you need: As it became known yesterday, British Prime Minister Theresa May is preparing a series of changes to the Brexit agreement related to the Irish border, which maintains the demand for the British pound. Currently, bulls require a quick return and consolidation above the resistance of 1.2895, which […]
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 […]
