European Open Preview – Euro drops on ECB optionality; US Q2 GDP on the radar

Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance against a basket of six major currencies – was practically unchanged on Friday, after it posted considerable gains in the previous session. The surge came as the currency with the heaviest weight in that index by far – […]

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Technical analysis of Bitcoin for July 27, 2018

Bitcoin has broken out of the long-term downward sloping wedge pattern. The downtrend that started back in December of 2017 is most probably over. Price has started a bounce, so that I expect to see eventually the 13,000-14,000 price level. Blue lines – bullish wedge Black rectangle – major medium-term resistance Yellow rectangles – targets […]

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EUR/USD. Rumors rendered a disservice to the European currency

ECB President Mario Draghi has been in office for almost 7 years and will resign next year, but the market still can not get used to his way of presenting information, putting unrealistic hopes on him. Yesterday, traders were disappointed that the head of the European regulator did not tighten his speech and “bring closer” […]

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Trading Plan for USD/JPY for July 27, 2018

Technical outlook: The outlook for USD/JPY looks to be bullish at least in the short term. As depicted here on the 4H chart, the pair has been forming higher highs and higher lows since May 2018. Moreover, it has bounced right from the support line that connects previous 2 bottoms/lows at 110.60 levels yesterday. Looking […]

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GBP / USD. 26th of July. Euro currency pulled down the pound sterling

4-hour timeframe Amplitude of the last 5 days (high-low): 125p – 145p – 76p – 87p – 68p. The average amplitude for the last 5 days is 100p (109p). The decision of the European Central Bank on monetary policy and rates, as well as the speech of Mario Draghi at the press conference very indirectly […]

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Technical analysis of EUR/USD for July 27, 2018

Yesterday I noted that price was challenging the long-term important resistance at 1.1730-1.1760. I also mentioned in yesterday’s analysis that the best option would be to go short this pair as the risk reward ration favored this view. The potential of a rejection was high, price was near resistance and the stop was very close. […]

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July 27th, 2018: Dollar Mixed On Tech Woes

Morning Report: 07.00 London The US dollar is mixed after Facebook surprised markets with a shock drop in profits brought about by privacy costs. The AUD/USD is rising after hefty selling yesterday. The EUR/USD is making similar moves after dropping below 1.1650 yesterday following the ECB press conference. By contrast, the pound is displaying follow-on […]

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Where now for the mining sector?

Trade tariffs, a potential global slowdown, the dollar and the yield curve, are all conspiring to disrupt the mining sector. Charles Gibson, from Edison Investment Research, says that anecdotal evidence suggests that the mining sector continues to sell into a market that remains buoyant. Subscribe: https://www.youtube.com/IGUnitedKingdom?sub_confirmation=1 Learn more about IG: https://www.ig.com?CHID=9&SM=YT Twitter: https://twitter.com/IGcom Facebook: https://www.facebook.com/IGcom […]

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Technical Analysis – USDCAD slips below 23.6% Fibonacci; bearish correction is possible

USDCAD remains under pressure as it holds below the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3385, around 1.3073. Moreover, the price plummeted below the 20- and 40-simple moving averages (SMAs) on Wednesday in the daily timeframe, indicating for a possible bearish correction. From the technical point of view, the momentum indicators […]

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Technical analysis of Gold for July 27, 2018

The Gold price remains trapped inside the wedge pattern. The price got rejected at the $1,230-35 resistance area and is now challenging short-term support at $1,220-17 area. A break below this area will open the way for a push lower towards $1,200-$1,180. A break above $1,235 will open the way for a move towards $1,245-50. […]

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Trading Plan for GBP/USD for July 27, 2018

Technical outlook: The GBP/USD pair may be into its final leg lower as EUR/USD, before producing a meaningful counter-trend rally for the remaining of months. Please note that the pair has been dropping since mid of April 2018 and seems very close to completing its first major down move. Looking at the wave structure, the […]

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Smart Leverage: How to Achieve Returns While Controlling Risk

More on Risk Management Techniques: https://pepperstone.com/en/client-resources/mastering-risk-management-techniques There are ways to intelligently lever your trading account without much gearing, allowing you to trade a variety of positions and strategies while protecting your account from market volatility. Join market expert Boris Schlossberg as he shares his insights on the strategies and tactics professional traders use to increase […]

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Trading Plan for US Dollar Index for July 27, 2018

Technical outlook: The US Dollar Index might be looking to carve one small high above 95.50 levels in the next 2 days to come before reversing sharply lower. Looking at the recent wave structure, the index might be forming an ending diagonal, which is most probably into its 5th wave as depicted here on the […]

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Technical analysis: Intraday Level For EUR/USD, July 27, 2018

When the European market opens, some Economic Data will be released such as French Consumer Spending m/m, German Import Prices m/m, and French Flash GDP q/q. The US will release the Economic Data too, such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Advance GDP Price Index q/q, and Advance GDP q/q, so, amid […]

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Technical analysis: Intraday level for USD/JPY, July 27, 2018

In Asia, Japan will release the Tokyo Core CPI y/y data, and the US will release some Economic Data such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Advance GDP Price Index q/q, and Advance GDP q/q. So, there is a probability the USD/JPY will move with a low to medium volatility during this […]

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Trading Plan for EUR/USD for July 27, 2018

Trading plan: Remain short and add more towards 1.1700 levels, stop at 1.1785, the target is open. Fundamental outlook: Watch out for US GDP at 0830 AM EST. Good luck! The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Analysis of the trading week of August 21–25 for the GBP/USD… August 26, 2023 […]

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The dollars mixed fortunes, Larry Kudlow on US GDP, BTC back below a key number.

https://pepperstone.com/en/forex-news/market-review -CNY and KRW makes gains vs the US dollar -The Brazilian real slides but dollar index is unmoved. -Aussie PPI data undershoots. -Facebook weighs on tech indices. -The outlook for US GDP figures today. The overnight changes and price moves to be aware of by Pepperstone’s Market Analyst, Darren Sinden. New To Forex Trading? […]

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NZD/USD. The New Zealand dollar allowed itself an upward correction

The price index for dairy products since June 5 is in a negative area, putting background pressure on the New Zealand dollar. The latest Global Dairy Trade auctions (which are held every two weeks) have shown that the cost of basic dairy products is declining against the background of weak demand and overproduction. The NZD/USD […]

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Elliott wave analysis of EUR/NZD for July 27, 2018

EUR/NZD is a break above the descending channel resistance-line near 1.7173 indicating that red wave ii completed with the test of 1.7130 and red wave iii towards 1.7510 now is developing. Short-term, we would like to see a break above resistance at 1.7207 too, as confirmation that red wave iii is in motion for the […]

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Fundamental Analysis of EUR/CAD for July 27, 2018

EUR/CAD is currently quite impulsive with the bearish gains which is expected to push the price much lower towards 1.50 price area in the coming days. EUR has been struggling with the recent economic news which leads CAD to gain impulsive momentum in the process. EUR has been struggling with the recent economic reports and […]

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Elliott wave analysis of EUR/JPY for July 27, 2018

The continued downside pressure is forcing us to change our short-term count. Instead of red wave i peaking at 129.50, we have moved that peak forward to the 131.99 peak, which means that red wave ii now is developing. The 61.8% corrective target of red wave i is seen at 128.98 and just below at […]

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Fundamental Analysis of AUD/JPY for July 27, 2018

AUD/JPY has been residing inside the range between 80.50 to 84.50 for a few months now and currently, the price is expected to push lower towards the support area of 80.50 in the coming days. Despite the recent worse economic reports, JPY managed to maintain its momentum over AUD and expected to extend it further […]

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Daily Market Review, July 27th 2018: Traders build up the appetite for risk

Stay informed about headline news and trends across the world’s ever-fluctuating financial markets through Binary TV. From stocks and commodities to global currencies, indices, and more, we help you keep up-to-date with our Daily Financial Market News, all brought to you exclusively from Binary.com Binary_com- Daily financial new -July 27th 2018 Related Posts:Market Loses Confidence: […]

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Stock Market News – Exxon Mobil next in line with earnings season in full swing

Exxon Mobil will release its earnings report for the second quarter of 2018 before Wall Street’s opening bell on Friday. The consensus recommendation for the energy titan is “hold”, in contrast to the “buy” average consensus for the Oil & Gas Refining and Marketing peer group.    The largest US energy company by market capitalization […]

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Euro returns to decline on Draghi’s promise to keep rates amid growing inflation

ECB keeps interest rates, QE parameters, and forward guidance unchanged, reiterating the intention to keep rates at this level at least until summer 2019. During the press conference, ECB President noted the “steady and wide” economic growth of the euro area region and pointed out that the inflation would gain momentum by the end of […]

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Stock Market News – Amazon’s earnings to render it the first $1 trillion valued company?

Amazon’s earnings report for Q2 2018 will be hitting the markets after Thursday’s closing bell on Wall Street. The consensus recommendation for the company is “buy”, which positively compares to the average consensus recommendation of “hold” for the Department Stores peer group. The retailer is expected to have made $2.50 in earnings per share (EPS) […]

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EURCAD Wave Analysis – 26 July , 2018

• EURCAD reversed from support zone • Likely to rise further EURCAD recently broke below the support zone lying between the key support level 1.5300 (which stopped the previous waves (a) and (b), as can be seen below) and the 38.2% Fibonacci correction of the upward impulse 1 from the end of May. The breakout […]

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Wheat Wave Analysis – 26 July , 2018

• Wheat approached strong resistance area • Further gains are likely Wheat has been rising sharply in the last few trading sessions inside the short-term impulse wave 3 which belongs to the medium-term impulse wave (3) from the start of July. The price is currently trading close to the strong resistance area lying between the […]

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Technical Analysis – CADJPY erases negative rally; could strengthen further in short term

CADJPY has finally returned to the upside after the rebound on the 84.25 support, completing a bearish correction of the short-term uptrend movement. Also, the price climbed above the 23.6% Fibonacci retracement level of the upleg from 82.15 to 85.73, around 84.88 over the last hours and holds above the 20- and 40-simple moving averages […]

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