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 […]
Recently, the EUR/USD pair has been trading downwards. As I expected, the price tested the level of $1,278.00 (first target met). Anyway, according to the H1 time frame, I have found that sellers are in control and that key support will be at the price of $1,275.90. Watch for a breakout of the key support […]
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 […]
Since June 2018, the EUR/USD pair has been moving sideways with slight bearish tendency. Narrow sideway consolidations have been maintained within the depicted Flag Channel (In red). On November 13, the EUR/USD 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 fixation above […]
Gold dropped to a three-week low of 1,277.66 on Monday after a failed attempt to pierce the strong roof around the 1,298.47 peak last week. But the RSI and the Stochastics in the four-hour chart suggest that the downside is overstretched, and the price could rebound again as both indicators hover near oversold levels; the RSI is […]
Overview: The GBP/USD pair will continue rising from the level of 1.2824 which represents the daily pivot point on the H1 chart in the long term. It should be noted that the support is established at the level of 1.2745. The price is likely to form a double bottom in the same time frame. Accordingly, […]
The euro was under pressure from sellers throughout the previous week, but sales are running out of steam. In the new week, one of the important signals should lead to growth: there are three such important news – key talks by Trump and the Democrats regarding the “shutdown” are to take place in the US; […]
The foreign exchange market has long been ripe for a strong trend movement, especially for the euro. The new week has three important events, each of which can start a trend: 1. Trump-Democrats negotiations on the “shutdown” can give a positive impetus to the markets – none of the parties are interested in deepening the […]
To open long positions on GBP/USD you need: A weak UK retail sales report quickly dampened the buying power of the pound, which led to a return to the side channel area. Currently, bulls need a quick return and consolidation above the resistance of 1.2890, which will lead to a larger upward trend in the […]
Wave counting analysis: On January 18, the GBP / USD pair dropped 110 bps. The unsuccessful attempt to break through the level of 76.4% warns about the completion of the construction of the rising wave with and, accordingly, the entire upward trend segment. Special clarity in the issue of Brexit did not appear. It is […]
Reports China is willing to buy more US goods keep risk appetite buoyed Euro/dollar eyes key support area, looks to Thursday’s ECB meeting Today, focus turns back to the UK; PM May presents her alternative Brexit plan Fresh trade headlines propel stocks even higher, yen retreats US equity markets recorded another round of sizeable gains […]
Trend analysis (Fig. 1). On Monday, work upwards with the first top target of 1.2907 – a rolling level of 38.2% (yellow dashed line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis – down; – trend analysis – down; – […]
On Monday, the price will move up. The first upper target is 1.1414 – 21 middle EMA (black thin line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis – up; – trend analysis – up; – Bollinger lines – down; […]
Wave counting analysis: Bidding on Friday, January 18, ended for EUR / USD pair another 30 bp down. Therefore, the uptrend of the trend retains the prospects for its development, but takes the form of a diagonal triangle. On the other hand, the unsuccessful attempt to break through the level of 23.6% on the older […]
EUR/USD continued its move lower and reached 1.1353. Our past analysis explained that a break below 1.14-1.1380 would push prices towards 1.1320 and the longer-term upward sloping trend line support. Price continues to make lower lows and lower highs but we remain above the critical support area of 1.1320-1.13. Red rectangle- weekly resistance Black line […]
