The European Central Bank is not exerting all means to provide the optimal monetary tools for Germany. German Finance Minister Wolfgang Schaeuble reiterated the central bank should introduce tools which would benefit all 19 member nations of the European Union. He added the ECB is not doing enough to offer the best policies for Germany, […]
Eurozone economic sentiment escalated for the second time this month as the European Central Bank will unveil its economic projections, which might shed more light on the extent of its stimulus tools. The European Commission reported the executive and consumer sentiment index surged to 104.7 in May from a revised 104.0 in April, the highest […]
Overview: The GBP/USD pair dropped sharply from the level of 1.4738 towards 1.4601. Today, the price is seen at the level of 1.4601 that will act as a daily pivot point. The GBP/USD pair is still moving between 1.4601 and 1.4760. Furthermore, the price is set below the strong resistance at the levels of 1.4738 […]
Overview: The EUR/USD pair continues moving in a bullish trend from the support levels of 1.1097 and 1.1100 this morning. Currently, the price is in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. But the price is still below the moving average (100), […]
Shares in Hong Kong on Monday finished a little higher after minimal gains on indexes in Mainland China. The Hang Sang index increased by 0.3 percent to 20,629.39 points, whereas the China Enterprises Index rose by 0.3 percent to 8,624.76. HSI index’s total trading volume of companies was 1.8 billion shares. The material has been […]
EUR/USD: As it was projected, the EUR/USD pair went south roughly by 110 pips last week, closing at 1.1114 on Friday, May 27, 2016. There is a strong Bearish Confirmation Pattern in the market: It is expected that the market would continue trending lower as long as the USD is stronger than the EUR. Any […]
AirAsia Bhd received a $1 billion takeover offer for its leasing unit, Bloomberg News reported. CEO Tony Fernandes told Bloomberg that the airline intends to strip the business, Asia Aviation Capital Ltd, but said the offer needs to be discussed more with the board. AirAsia, the largest budget airline in Asia, has been in talks […]
Global macro overview for 30/05/2016: The week looks very interesting, so let’s see what king of events will drag the most of the attention of the market participants. The first of the most important events of the week is the ECB rate decision and forecast that will be published on Thursday June 2nd at 12:30pm […]
Global macro overview for 30/05/2016: The second GDP data from the USA was released last Friday and it looks like the US economy slowed down in the second quarter, but less than anticipated. According to the Commerce Department, the estimated GDP was in line with expectations of 0.8% and better than 0.5% in the last […]
Oil prices climbed to $50 per barrel for the first time this year due to supply worries while the increasing global demand levels are working in favour of its recovery. The increase in oil prices came after reports linked the recent fires in Canada to lower supply and therefore reduced oil inventories. The release of […]
The week started with USD strength following by more hawkish comments from Fed’s Yellen, which reiterated that there is a strong possibility to raise rates in the coming months. This week will feature many key data, including ECB interest rates on Thursday and US NFP on Friday. Because of Yellen’s emphasis on the labor market, […]
General overview for 30/05/2016: The impulsive wave progression to the upside labeled as wave i black might be the first one in the sequence of a bigger cycle wave (iii) green. The invalidation line for this cycle is still at the level of 1.2836, a border of the bearish zone. Currently, the market is in […]
Wave summary: The consolidation below the short-term important resistance at 1.6689 was more prolonged than it had been expected. It has not changed our view that a break above this short-term resistance soon will be seen as a continuation towards 1.6931 and 1.7223 on the way to the next major upside target at 1.8420. In […]
Wave summary: With a low seen at 122.19 (just 7 pips from the ideal downside target at 122.12) followed by a clear break above minor resistance at 123.12, wave [ii] was completed and wave [iii] moved higher towards at least 127.34. Short-term support is now at 123.12 with back-up support formed at 122.75, but we […]
General overview for 30/05/2016: The wave b purple structure turned out to be a little more complex than anticipated, but still the count is correct and valid. The invalidation line however is relatively close, at the level of 124.02. Any breakout higher above this level will invalidate the black impulsive count and it will make […]
The Dollar index remains very strong in a bullish trend as price made a shallow retracement last week and was pushed to new highs towards 96. Price remains in a bullish channel but there are bearish divergence signals. Blue lines – bullish channel The dollar index made a shallow pullback last week on top of […]
Gold price continued moving to new lows last week just below $1,200. Price remains inside the bearish channel. As I said last week the downside movement is now limited and we should wait for a bounce as price reached the 38% Fibonacci retracement of the rise from $1,045. Black line – long-term resistance Blue lines […]
Indian Commerce and Industry Minister Nirmala Sitharaman on Monday said she was in talks with finance ministry on the foreign direct investment proposal of iPhone maker Apple Inc., which seeks a waiver from the local sourcing rules of the country. Her comments was made after the finance ministry asked the company to meet rules mandating […]
When the European market opens, some economic news will be released such as the Italian 10-y Bond Auction, Spanish Flash CPI y/y, French Consumer Spending m/m, German Prelim CPI m/m, and German Import Prices m/m. But today the US will not release any economic data, so amid the reports, EUR/USD will move with low to […]
In Asia, Japan will release the Retail Sales y/y. The US today will not release any economic data. So there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance. 3: 111.36. Resistance. 2: 111.14. Resistance. 1: 110.93. Support. 1: 110.66. Support. 2: 110.44. Support. 3: […]
French financial prosecutor Eliane Houlette said data analysis from Paris raid at Google’s offices could possibly take years. On Tuesday, French police raided Google’s office over suspected tax evasion. Houlette said they have a collected a lot of computer data, adding 96 people took part in the raid. Houlette also said the data need to […]
News agency Kyodo on Sunday said Japan’s Finance Minister Taro Aso said parliament lower house should be disbanded followed by a general election if tax hike is delayed. A government official said that Prime Minister Shinzo Abe plans to postpone a sales tax hike planned for April 2017 for two and a half years. Aso […]
Australia will sell off approximately A$16 million ($11.49 million) worth of confiscated bitcoins next month as demand for the cryptocurrency reached its highest level in almost two years. Selling of 24,518 bitcoins will occur on June 20-21, according to Ernst and Young that will spearhead the first auction outside the United States. The UK-based entity […]
Gold touched its weakest level since February as Federal Reserve Chair Janet Yellen indicated another interest rate hike might be considered in the following months, citing strengthening US economy. The Fed head backed what some policymakers have mentioned last week, that signs of improving US economy meant raising rates could now be taken into account. […]
Japanese retail sales slid in April as sales of household electronics dropped and crude prices continue to decline. The Ministry of Economy, Trade, and Industry reported retail sales in the country slipped 0.8% last month following a revised 1.0% fall in March. Meanwhile, the government retained its evaluation of the indicator, indicating retail sales are […]
It can be seen on the H1 chart that the US dollar index is strongly trading into a bullish bias above the 200 SMA, and the resistance lies at 95.68. If USDX manages to break it, further advance toward the 96.03 level can be seen, which should also strengthen the bullish trend on a short-term […]
GBP/USD continues to perform corrective moves confirming the overall bullish bias which was pushed by the recent Brexit uncertainty increased amid the polls results. From a technical pont of view, cable can rebound above the 200 SMA, where a dynamic support can be found, and afterwards it is likely to test the 1.4662 level. MACD […]
Below is a weekly summary of our research findings for 5/23/16 through 5/27/16. These summaries give you a quick snapshot of our content the past week so that you can quickly decide what’s relevant to your investing needs. Subscribers: To receive these weekly digests via email, click here to sign up for our mailing list. More Related […]
Overview The EUR/JPY price again failed to surpass the initial resistance at 123.15. It was forced to form bearish waves to settle at 122.60 as you can see at the image above. In spite of the previous negative pressure, stability of the support at 122.20 is backing the bullish movement in the upcoming period. There […]
Overview The price continues forming strong obstacle against the USD/JPY pair’s positive attempts, which forces the price to fluctuate within a sideways track and show some slight negative trading. Stochastic continues attempting to gather the positive momentum in the daily time frame. In general, we will continue suggesting the bullish trend on the intraday and […]
