Wave summary: It should be just a matter of time before a new strong rally to 124.65 and higher towards 126.47 is seen. We still need a break above the important resistance at 126.47 to confirm that a long-term corrective bottom is in place at 121.46, but once this resistance is cleared, and we do […]
NZD/USD is under pressure. The pair has struck against its key resistance at 0.6775 and is turning down now. Both the 20-period and 50-period moving averages are heading downward, which should call for a new pullback. Besides, the relative strength index lacks upward momentum. Hence, as long as 0.6775 holds on the upside, look for […]
GBP/JPY is expected to trade in a higher range as the bias remains bullish. Currently trading at 160.65, the pair stands above its support at 159, while the 20-period moving average stays above the 50-period one. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The bias remains […]
Technical outlook and chart setups: Gold has dropped lower and is seen to be trading at $1,258.00 levels, looking to pull back higher for now before turning bearish again. Please note that the yellow metal has again found support around fibonacci 0.618 levels of the rally between $1,227.00 and $1,303.00 levels respectively. Moreover, the metal […]
When the European market opens, some economic news will be released such as the ECB Monetary Policy Meeting Accounts, Spanish 10-y Bond Auction, French 10-y Bond Auction, and Current Account. The US will release economic data too such as the Natural Gas Storage, CB Leading Index m/m, Unemployment Claims, and Philly Fed Manufacturing Index. So […]
In Asia, Japan will release the All Industries Activity m/m and Core Machinery Orders m/m, and the US will release some economic data such as the Natural Gas Storage, CB Leading Index m/m, Unemployment Claims, and Philly Fed Manufacturing Index. So there is a probability the USD/JPY will move with low to medium volatility during […]
On the H1 chart, USDX has been trading into a bullish bias, after it received with a good shape the news from the FOMC minutes, which showed that a rate hike in June of this year is highly possible. The nearest resistance is located at the 95.22 level, where a breakout should happen to extend […]
GBP/USD had a strong bullish momentum during yesterday’s session, as the pair reacted in a positive way to the good indicators released in the UK. Currently, it’s facing off the resistance level of 1.4622, where a pullback can happen towards the 1.4549 level, and a more deeper decline can happen to retest Wednesday’s lows, but […]
EUR/USD: This currency trading instrument went downwards on Wednesday – just in the opposite direction to the USD/CHF. The EMA 11 is below the EMA 56, while the RSI is below the level 50. Further bearish movement is expected as the price targets the support lines at 1.1200 and 1.1150. USD/CHF: As it was forecasted […]
Two FED members are set to speak today and following the surprisingly hawkish comments released yesterday, the market will monitor their words very carefully. Yesterday USD jumped after FOMC minutes were released. The minutes raised hopes for a June rate hike. Policymakers generally judged that it might be justified to increase interest rates in June […]
Japanese March core machinery orders jumped 5.5% from the last month, data from the Cabinet Office showed, but companies see a fall in investment in April-June. A survey conducted by the Cabinet Office showed that companies predict that core orders would decline by 3.5% in the April-June quarter. Core orders rose 6.7% in Jan-March from […]
South Korea’s Samsung Electronics and China’s Alibaba Group Holdings on Friday will announce a partnership on mobile payment systems, media reported. The reports said that under the collaboration, Samsung plans to allow its smartphone customers to use Alibaba’s online payment platform, Alipay. A spokeswoman at Samsung Electronics did not comment. The material has been provided […]
Overview The gold price approached from testing the main bullish trend line located at $1,267.70. The price needs to settle above this level for the expected bullish trend continuation for today. A breach of the mentioned resistance will extend the bullish wave to $1,344.85 directly. A break of the $1,267.70 level will push the price […]
Overview The silver price trades negatively turning back to test the critical support at 17.00. A break of this level is followed by a breach of 16.90, which is a negative factor that will complete the head and shoulders pattern formation shown on the above chart. Then the price could return to decline targeting 16.37 […]
Recently, EUR/NZD has been moving sideways at the price of 1.6655. According to the 4H time frame, I found that strength came in at the price of 1.6548. A bearish bar is in an ultra-high volume, but closed in the middle. That is a sign of strength. Watch for buying opportunities on dips. Upward targets […]
On January 28, the depicted support at 0.6400 acted as a prominent key level offering a valid buy entry. The 0.6550 level was broken a few weeks ago. Bullish persistence above 0.6550 (depicted recent support) was necessary to keep the price moving towards higher bullish targets. During February’s consolidations, the price zone of 0.6750-0.6840 constituted […]
Successfully trading the capital markets goes well beyond having a good idea. There will be many times where you are right about the direction of a market but completely wrong about your timing. One of the problems that most traders experience is that the markets can be irrational for a period that is longer than […]
A bullish breakout above the previous consolidation zone between 1.2400 and 1.2800 was performed on July 15 (shown on the weekly chart). A significant bearish rejection was observed around 1.3450. Hence another consolidation range was established from 1.3450 down to 1.2800. On December 7, a bullish breakout above 1.3450 (upper limit of the recent consolidation […]
Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market. However, the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470) which allowed further bearish decline to occur. The prominent demand level located at 1.3845 (historical bottom that goes back to March […]
Stocks Report: Tesla Motors Tesla Falls in impulse waves 3, (3) and ③ Likely to fall to 200.00 Tesla has been falling sharply in the last few trading […] The post HY Newsletter – USD/CHF Broke Resistance Zone appeared first on | HY Markets Official blog. Forex Related Posts:Technical Analysis – USDJPY flirts […]
In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 and 1.2000 where historical bottoms had been previously set in July 2012 and June 2010. Hence, a long-term bearish target is projected towards 0.9450. In March 2015, the EUR/USD bears challenged the monthly demand level of 1.0570 which had been previously […]
Since our previous analysis, gold has been moving sideways at the price of $1,273.00. According to the daily time frame, I found weakness in the background. Bullish bar closed in the middle. Anyway, according to the 4h time frame, I found a downward channel. There are two options in my opinion. The breakout of level […]
Overview: The trend of NZD/USD pair movement has been controversial as it took place in a narrow sideways channel, the market has shown signs of instability. Therefore, the price is still moving between the levels of 0.6842 and 0.6715. The daily resistance and support are seen at the 0.6842 and 0.6715 levels respectively. Consequently, it […]
Overview: The USD/CHF pair has broken resistance at the level of 0.9795 which acts as support now. Thus, the pair has already formed minor support at 0.9815. The strong support is seen at the level of 0.9795 because it represents the daily support 1. Equally important, the RSI and the moving average (100) are still […]
Official figures showed the unemployment rate remained at 5.1%, while unemployment rate slumped by 2,000 in the first quarter. The Office for National Statistics said the number of individuals with jobs was 31.6 million, up 44,000. Unemployment closed at 1.7 million. Media earnings, excluding bonus, climbed 2.1%, previously 2.2%. The Bank of England earlier said […]
Despite steady energy prices, the eurozone dropped back to deflation in April as the region experiences difficulties in bolster consumer prices. Official figures validated an initial projection which showed consumer prices were 0.2% lower than previously announced last month. Inflation in the continent has remained below 2% for the last three years, attributing it to […]
Deutsche Boerse AG and the London Stock Exchange Group Plc revealed Wednesday they are seeing progressions in releasing documents outlining the $30 billion merger pact next month. The Britain-based firm reiterated investors are awaited to back the upcoming merger deal in their next gathering. One of the provisions include LSE investors owning 45.6% of shares […]
Japanese Prime Minister Shinzo Abe Group of Seven leaders acknowledge the necessity to amplify demand and remove factors that affect supply despite prevailing perils to the global economy. During a debate with opposition leaders, the premier argued there are downside risks to the overall economy, including China’s economic degeneration. Japan is scheduled to host the […]
Germany’s constitutional court is poised to decide on the European Central Bank’s program to repurchase bonds of problematic member nations on June 21. The Bundesverfassungsgericht will vote on the central bank’s Outright Monetary Transactions two days before the United Kingdom’s in/out referendum. Earlier this year, the court convened to hear testimony from both parties but […]
Soft Start for Euro Morning Report: 06.30 London • This morning, the euro is lagging on reports that the IMF is pressing the EU to allow Greece to skip paying interest payments. • The EUR/GBP is lower despite UK inflation and PPI coming in below […]
