EUR/USD Analysis: On the chart of the European currency, the direction of price fluctuations since September of last year sets a descending wave algorithm. The wave structure forms a horizontal corrective plane. Extremes on the chart create a “pennant” pattern. The wave structure is nearing completion, but there are no signals of an imminent reversal […]
We introduce you to the daily updated section of Forex analytics where you will find reviews from forex experts, up-to-date monitoring of financial information as well as online forecasts of exchange rates of the US dollar, euro, ruble, bitcoin, and other currencies for today, tomorrow and this trading week. Video Agenda: 00:00 INTRO 00:16 Totay’s […]
Analysis of transactions and tips for trading USD/JPY The test of 151.52, coinciding with the rise of the MACD line from zero, provoked a buy signal that led to a price increase of around 25 pips. Dollar’s consolidation above the level of 151.50 indicates the further development of the upward trend. Data on the growth […]
Analysis of transactions and tips for trading GBP/USD The test of 1.2613 took place at a time when the MACD line moved downward from zero. This, along with strong US data, provoked a sell signal that led to a price decrease of over 40 pips. The empty macroeconomic calendar in the UK limited pound’s growth […]
Analysis of transactions and tips for trading EUR/USD The test of 1.0822 occurred during the drop of the MACD line from zero. This, along with strong data from the US, provoked a sell signal that led to a price decrease of over 30 pips. Poor data on industrial orders in France and Germany, as well […]
Trend analysis GBP/USD may resume an upward movement this week, starting from the level of 1.2634 (closing price of the last weekly candle) to the 61.8% retracement level of 1.2719 (red dashed line). Following this, the pair will climb to the 14.6% retracement level of 1.2766 (blue dashed line). Fig. 1 (weekly chart) Comprehensive analysis: […]
Trend analysis EUR/USD may continue moving upward this week, rising from 1.0836 (closing price of the last weekly candle) to the 50% retracement level of 1.0917 (red dashed line). Upon testing this level, the pair will climb further towards the 61.8% retracement level of 1.0969 (red dashed line). Fig. 1 (weekly chart) Comprehensive analysis: Indicator […]
EURUSD fluctuates near its 50- and 200-day SMAs Forms two successive doji candles, unable to adopt a direction Momentum indicators strengthen but remain negative EURUSD experienced an aggressive decline before finding its feet at 1.0722, a region that also held strong in February. Despite its attempt to rebound, the pair has met strong resistance at the […]
Gold reaches 2,353.90 above 161.8% Fibonacci extension MACD and RSI move higher in overbought regions Gold prices are experiencing a fresh higher high today around the 2,353.90 level, successfully surpassing the 161.8% Fibonacci extension level of the downward move from 2,079 to 1,810 at 2,245. The bullish rally started after the rebound off the 1,984 […]
Something strange and peculiar is happening in the market. For instance, on Wednesday, the pair sharply grew after the eurozone inflation data, but then it completely reversed all that movement. Take note that inflation in Europe continues to decline. Something similar happened on Friday as well. The dollar sharply strengthened at one point, which was […]
Analyzing Friday’s trades: GBP/USD on 1H chart The GBP/USD pair also showed nothing but erratic movements on Friday. Once again, the dollar failed to rise when it clearly should have shown growth. This might seem strange for the EUR/USD pair, but this often happens for the GBP/USD pair. The British pound is still trading within […]
Analyzing Friday’s trades: EUR/USD on 1H chart On the daily chart, the price is below the balance indicator line, and the Marlin oscillator has edged down after a short-term sideways movement. We expect the price to break below the support at 1.0796 and further fall towards 1.0724. On the 4-hour chart, the price is above […]
At the end of the trading week, American stock markets recorded gains thanks to an optimistic jobs report confirming the strength of the country’s economy. This bolstered confidence that the economic downturn could be delayed, despite speculation that the Federal Reserve may revise plans to adjust interest rates. Growth was noted in all key sectors […]
Gold reached a new high around 2,354.14 during the European session. Since the market opened this week around 2,323 due to strong volatility and low liquidity, gold rose in a few hours to 2,254. Although Friday’s Non-Farm Payrolls data was favorable for the US dollar, gold ignored this data and rose after reaching the bottom […]
EUR/USD: Friday’s U.S. employment data came out excellent, providing traders with a good reason for risk-taking, but then the enthusiasm quickly faded, and the euro and other counter-dollar currencies closed the day lower (the dollar index was down 0.17%). Today, Germany’s trade balance for February will be published, with forecasts suggesting a decrease from 27.5 […]
GBP/USD: Last Friday, the British pound’s sharp drop against the attack on the support at 1.2596 showed that it is not a very strong level; if the price manages to break through this mark, it can easily reach the target level of 1.2500. The signal line of the Marlin oscillator is steadily decreasing in the […]
AUD/USD After the Australian dollar failed to test the resistance of 0.6627, it returned to the area below the MACD indicator line, and consolidated. In today’s Pacific session the price is struggling with the support of the balance indicator line. If it succeeds in testing today’s low at 0.6562, this will greatly help in pushing […]
Analysis of GBP/USD 5M GBP/USD showed absolutely absurd movements on Friday. They were identical to those shown by the EUR/USD pair. Initially, on strong labor market and unemployment statistics from across the ocean, The dollar initially rose after strong U.S. labor market and unemployment data, but then it quickly returned to its original positions. All […]
Analysis of EUR/USD 5M EUR/USD tried to start a logical downward movement on Friday. Especially when the reports on Nonfarm Payrolls and unemployment in the US were published. Both reports turned out better than forecasts, which should have boosted the dollar. And they did, but the greenback only strengthened for a short time. Basically, the […]
The dollar missed plenty of opportunities to strengthen against the euro and the pound. Fortunately, the greenback will have another chance next week. On Wednesday, the U.S. will release its inflation report for March, and there’s a good chance that it will be positive for the dollar. Unfortunately, everything will depend on the market. If […]
The pound remains within the horizontal part of the trend, which is not actually a trend. I would like to remind you that currently, a downward wave set is still being formed. It is assumed that the wave 2 or b is, but it could also take on a more prolonged form. It is within […]
We just saw strong U.S. data and a very weak reaction from the market. I want to highlight that the demand for the U.S. currency was supposed to increase much more strongly, but throughout the week, the market was more focused on selling the dollar than buying it. As a result, the current news background […]
Oil prices rallied on Thursday to pare some of the prior session’s losses, propped up by declining exports by OPEC-member Venezuela. Brent crude futures traded up 33 cents or 0.4 percent, to $75.69 per barrel. Meanwhile, U.S. WTI crude rose 33 cents or 0.6 percent at $65.11 per barrel. It finished the prior session 1.2 […]
The euro remained near two-week highs versus majority of its rivals on Thursday, on increasing bets the European Central Bank may announce it will taper its stimulus program by year-end as early as next week at the end of its policy meeting. The central bank’s chief economist Peter Praet, a close ally of President Mario […]
Gold prices rose on Thursday, propped up by a weaker dollar amid ongoing worries regarding a trade war between the U.S. and its allies. Spot gold traded 0.1 percent higher at $1,296.91 per ounce. U.S. gold futures for August delivery were almost unchanged at $1,301.30 per ounce. The dollar index, which tracks the greenback versus […]
The U.S. trade deficit slid to a seven-month low in April as exports climbed to a record high, bolstered by an increase in shipments of industrial materials and soybeans. The Commerce Department said the trade gap fell 2.1 percent to $46.2 billion, the smallest deficit since September. Data for March was revised to show the […]
The European Central Bank will discuss next week whether to halt bond purchases later this 2018, the bank’s top economist Peter Praet said on Wednesday, a hawkish rhetoric perceived preparing investors for another rollback in stimulus. After stoking growth with a massive 2.55 trillion euro bond-buying programme, ECB policy makers must make a decision on […]
U.S. government bond yields rallied along with their eurozone peers following a statement from a senior European Central Bank official indicated the central bank plans to push on with a debate next week on the schedule for ending its asset purchases. The 10-year Treasury note yield edged up 5.9 basis points to 2.975 percent, its […]
Wall Street index climbed on Wednesday, receiving a boost from financial stocks as investors focused on solid economic data and trade war concerns went to the background while the Nasdaq notched its third consecutive record closing high. The Dow Jones Industrial Average edged up 346.41 points, or 1.4 percent, to 25,146.39. The S&P 500 rose […]
European equities ended marginally changed Wednesday, with trade mostly affected by concerns over fiscal spending in Italy. The pan-European Stoxx 600 ended temporarily neutral with sectors and major bourses mixed. Italy’s FTSE MIB, which was under pressure, rebounded on Wednesday, increasing 0.26 percent. New Italian PM Minister Giuseppe Conte presented his coalition’s plans to clampdown […]
