AUDUSD has eased sharply to the downside this week and the 0.7475 resistance level acted as a strong obstacle for the bulls in the preceding weekly session. Moreover, the pair dipped below the 20-day simple moving average (SMA) early in European session today, signaling further downside pressures. The short-term technical indicators in the daily timeframe are bearish and point to […]
The currency market is dominated by narrow ranges of the price fluctuations, but the dollar definitely holds power. On the stock exchanges, modest increases, after data and inventories, oil erases recovery and gold remains on long-term lows. USD/JPY breaks through 113.00, EUR/USD falls under 1.1650. GBP/USD goes down at 1.31. NZD/USD completely erased the yesterday’s […]
At the 4 hour chart we see that the cable is still moving with the bearish bias but we also see the divergence between the price and the Stochastic. Therefore, there is a possibility that the GBP/USD pair will correct its movements in a few days ahead to the upside at 1.3172. Overall, the bias […]
As seen on the daily chart, crude oil is still moving in the upward sloping channel, but now it has a correction to test the level 66.64. Unless the price breaks out and closes bellow 61.90, there is higher probability for #CL to go up again at least to the MA 21. The material has […]
When the European market opens, some Economic Data will be released such as German 30-y Bond Auction, Final Core CPI y/y, and Final CPI y/y. The US will release the Economic Data too, such as Beige Book, Crude Oil Inventories, Housing Starts, and Building Permits, so, amid the reports, EUR/USD will move in a low […]
In Asia, Japan today will not release any Economic Data, but the US will release some Economic Data such as Beige Book, Crude Oil Inventories, Housing Starts, and Building Permits. So, there is a probability the USD/JPY will move with a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 113.54. Resistance. […]
Analysis of wave counting: During the Monday session, the EUR/USD pair gained about 20 bp, counting the close of the day. Thus, the pair remains within the framework of the proposed wave 5 of the downward trend section. If this is the case, then the construction of an internal correction wave in the future has […]
In the latest report, the USA, Switzerland, and Singapore were in the top three of the most favorable countries in terms of conducting initial monetary offers (ICO). Analysts associated with the Crypto Finance Conference developed studies based on publicly available data on 100 ICO projects and compiled them according to countries in terms of funds […]
https://pepperstone.com/en/forex-news/market-review -JPY and KRW fall back versus the USD. -DXY test back above 95.00. -Aussie leading index data is soft. -Are Japanese PFs selling the Yen? -Tough times in Argentina. -Fund Managers are bearish on profits. The overnight changes and price moves to be aware of by Pepperstone’s Market Analyst, Darren Sinden. New To Forex […]
EUR/AUD has been extremely corrective and volatile above 1.5750 area recently which is expected to push a bit lower before pushing higher with the trend in the coming days. Though EUR has been the dominant currency in the pair but recent worse economic reports and event increased the struggle to sustain the momentum in the […]
4-hour timeframe Technical data: Senior linear regression channel: direction – down. Minor channel of linear regression: the direction is up. Moving average (20; smoothed) – sideways. CCI: 36.4407 The GBP/USD currency pair on Monday, July 16, adjusted to the moving average line and it is clear that it can not develop an upward movement. The […]
EUR/GBP has been impulsive with the recent bullish gains which lead the price to reside at the edge of channel resistance below 0.90 resistance area. Though the bullish pressure was quite impulsive it has left certain traces in the process which does indicate certain bearish intervention to be observed in the coming days. GBP has […]
Jerome Powell Testimony On Tuesday, the new head of the Federal Reserve, Jerome Powell, made a regular semi-annual report to the US Congress. This is his second appearance as Fed Chairman. The report or testimony of the head of the Fed on the state of the economy and monetary policy will come out within two […]
The expected correction in wave ii/ is developing like hoped. We will be looking for more downside pressure towards the 38.2% corrective target at 170.67. Normally a wave two correction would be deeper, but as we are in wave iii we should be aware that correction tends to be smaller than normal. Longer term, we […]
Red wave iii likely peaked at 131.99 and a correction towards 130.76 and maybe even closer to 130.10 should be expected in red wave iv. Short-term a break below minor support at 131.41 will confirm that red wave iii has completed and red wave iv is developing. Longer term, we remain bullish for much more […]
Dear colleagues. For the Euro/Dollar pair, the price forms the potential top of July 13, the dynamics are expected to increase after 15:00. For the Pound/Dollar pair, the price forms the potential top of July 13, while the development of the structure can be expected at 10:00 – 12:00 and the breakdown at the 1.3248 […]
The head of the Federal Reserve made it clear that he considers it a mistake to raise the tariffs on goods. During the semi-annual report in Congress on July 17, the head of the Fed Powell was asked the main question of recent months: What does he think about the increase in trade duties on […]
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With the UK jobs report coming in line with forecasts, with the unemployment rate remaining at its lowest since the 1970s and average earnings inching down, the next challenge for sterling will come on Wednesday when the Office for National Statistics is scheduled to report June’s inflation readings before it updates retail sales figures for the same month on Thursday. While inflation is […]
To open long positions for EUR / USD, you need: Break and consolidation above 1.1724 level will be a good signal for euro purchases, and while the trade will be conducted above this range, one can count on the continuation of the upward trend with the renewal of resistance 1.1756 and the exit to the […]
Stocks markets were mostly mixed while the Dollar dipped ahead of Federal Reserve Chairman Jerome Powell’s Congressional testimony. The Pound weakened despite the UK jobs report meeting market expectations while Gold remained pressured. Although global trade developments remain a dominant market theme, investors will direct most of their attention towards Powell. The Dollar has scope […]
• CHFJPY broke resistance zone • Likely to rise further CHFJPY recently broke through the resistance zone lying between the key resistance level 112.00 (which has reversed the price multiple times from March) and 38.2% Fibonacci correction of the previous downward impulse (3) from February. The breakout of this resistance zone accelerated the active short-term […]
• WTI broke support zone • Likely to fall further WTI recently broke below the support zone lying between the round support level 70.00 and 50% Fibonacci correction of the previous sharp upward impulse 3 from June. The breakout of this support zone accelerated the active short-term impulse wave C which belongs to the ABC […]
Platinum is one of the most important industrial metals in the world. It is used in large machines and vehicles as a catalytic converter. It is found in most combustion engine vehicles. Platinum is also seen by some investors as being a precious metal though it does not come close to gold. In countries like […]
The Australian Dollar rose against the US dollar today after the Reserve bank of Australia (RBA) released the minutes of the monetary policy meeting held on 3rd of July. In the minutes, the officials reiterated their confidence on the country’s economy. In the first quarter, the country’s GDP rose by 3.1 per cent which was […]
Australian employment data for June will hit the markets on Thursday, at 0130 GMT. The forecast is for another solid jobs report, which would confirm the RBA’s view that the labor market continues to tighten and could help the aussie rebound somewhat. Besides economic data, the other major consideration for the battered Australian currency will […]
IBM’s earnings report for Q2 2018 will be made public after the closing bell on Wall Street on Wednesday. The consensus recommendation for the company is “hold”, which negatively compares to the “buy” average consensus recommendation for the IT Services & Consulting peer group. The multinational tech company is anticipated to have made $3.04 […]
Goldman Sachs stock price turned bullish as it penetrated the descending trend line to the upside and hit the 50-day simple moving average (SMA), which is acting as a strong resistance level for the bulls. The latest price movement shifts the bearish picture to bullish and the short-term technical indicators are confirming the scenario for upside pressure. […]
Calendar starts off with some potential Sterling shakers on this Wednesday, so let’s take a look. The high importance UK Consumer Price Index for June will be available at 8:30 along with a couple more publications. The overall inflation stood unchanged at 2.4% in May. Rising motor fuel prices produced the largest upward contribution. Producer […]
Morning session is over on this Tuesday, so let’s find out how the sentiment of the traders compares with the actual rate shifts. Euro/Dollar shows limited rate movement of just 44 pips, but the pair has still managed to attract an average amount of funds. Neutral sentiment of the traders is leaning towards the long […]
