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  • GBP/USD Trades Below Convergence of Two Major Resistances

    GBP/USD has rebounded since 16th January, trading above the downside short-term major uptrend line support. However, the bullish momentum has waned since early February, as a result of the strengthening of the dollar. On Tuesday 14th Feb, the uptrend line support was broken after the Fed Chair Yellen’s hawkish testimony. The support has turned into […]

  • Yellen Hawkish Testimony Weigh on EUR/USD

    The Fed Chair Yellen made her first day of her testimony before the Congress at 15:00 GMT on Tuesday 14th Feb, which was the first testimony she did after Trump took office. She adopted a hawkish outlook, which pushed the dollar and the Treasury yields higher. She stated that waiting too long to remove accommodation […]

  • AUDUSD Tests Uptrend Line Support after a Noticeable Retracement

    This early morning the RBA (Reserve Bank of Australia) announced that the interest rates remain unchanged at record low of 1.5%, in line with expectations, as the RBA expects no further QE in other major economies. The RBA implied that in the short term there won’t be a further rate cut, the rates will likely […]

  • GBPUSD Retreats After Hitting a Six-Week High

    Theresa May visited President Trump on Friday 27th Jan in Washington – she was the first foreign leader to visit the new US president. Trump told Theresa May that he believes Brexit will be a wonderful thing for Britain, and open the door to new trade deals. Trump has showed his support to NATO, which […]

  • US GDP, EURUSD Up or Down ?

    We will see the release of the US Q4 GDP (QoQ annualized) at 13:30 GMT this afternoon. Despite the market consensus of 2.1% for the US Q4 GDP (QoQ). The quarter-on-quarter Q1 to Q3 US GDP final readings were 1.1%, 1.4% and 3.5%, showing a robust economic recovery. EURUSD has rebounded since the beginning of […]

  • AUDUSD Tests Major Resistance and Support Ahead of Q4 CPI

    We will see the release of the Australian and New Zealand Q4 CPI figures (YoY and QoQ), at 02:30 and 23:45 GMT respectively, on this Wednesday 25th January. AUD/USD has turned bullish since early January, after testing the mid-term major support at 0.7150, as a result of the retracement of the dollar and the rebound […]

  • Can Supreme Court Ruling Help GBPUSD Remain Bullish ?

    Tomorrow, Tuesday 24 January, around 09:30 GMT, the UK Supreme Court will release the Brexit lawsuit Ruling, on whether the UK Prime Minister Theresa May will need the UK parliament’s approval to invoke Article 50 of the Lisbon Treaty, to leave the EU. Last Tuesday 17th January, GBPUSD surged to a one-week high of 1.2415, […]

  • Cautious EURUSD Ahead of ECB Press Conference

    The dollar and the US government bond yields surged last night as the Fed president Janet Yellen’s speech to the Commonwealth Club in San Francisco. Yellen stated that the nation is approaching full employment, the employment rate is less than 5%, near the level before the recession. In terms of inflation, although it has remained […]

  • GBPUSD Retreats Post Surge on Theresa May’s Hard Brexit Speech

    Trump stated on Tuesday that a strong dollar is risky to the US economy, as it weakens competitiveness of US exports and corporate profits. A senior adviser to Trump also warned that a strong dollar could make it difficult for Trump to implement his policies and revitalize the US economy. The comments drove the dollar […]

  • Sterling Struggles Ahead of Theresa May’s Speech

    Theresa May will make a speech outline her plans for Brexit tomorrow, on Tuesday 17th Jan, before she triggers Article 50 to leave the EU. The key points of her speech including immigration control, leaving the jurisdiction of the European Court of Justice. On Sunday 15th Jan, Sunday Telegraph reported that the UK Prime Minister […]

  • USDJPY turns Consolidation towards Downtrend?

    The strong bullish momentum of USDJPY post the US presidential election has waned since mid-December, a consolidation pattern has been formed thereafter. On 5th Jan, a long bearish candle broke the near term major support level at 116.00 on the daily time frame. On 12th Jan, the next major support line at 115.00 was further […]

  • Dollar Turn-around on Trump’s Press Conference

    Trump’s first press conference after his victory on the US presidential election was held yesterday around at 16:00 GMT. It has cause a great volatility to the dollar and the markets. Before the start of the press conference, the dollar index surged from the support line at 102.00, testing the resistance at 103.00, reaching the […]

  • GBPUSD Rebounds After Monday’s Weakening

    GBPUSD has rebounded after testing the short term major support line at 1.2100, where provides a strong support. GBPUSD fell more than 1% after the interview between Sky News and the UK PM Theresa May about an inevitable hard Brexit and the implication of leaving the EU single market. GBPUSD hit the lowest level of […]

  • Time for DAX to Correct after the Dec Surge ?

    We have seen the release of a series of German economic data for Nov this morning, which were overall better than the previous figures. Trade Balance rose to 21.7 B, from 20.6 B in Oct. Current Account rose to 24.6 B, from 19.4 B in Oct. Exports (MoM) rose to 3.9%, from 0.5% in Oct. […]

  • USDJPY Broke Near Term Major Support, Time for Bull to Retreat ?

    Yesterday we have seen a 1.03% retracement of the dollar, which was the biggest loss since the US presidential election. The downside uptrend line support was broken by a long bearish candle. Yesterday the support level at 102.50 was broken during early Asian session. It was followed by a rebound, testing the level, yet retraced […]

  • USDCAD Tests Major Support After Substantial Dollar Retracement

    The dollar index (DXY) fell below 102.00, to a three-week low of 101.73 during early European session, the biggest loss since the US presidential election. DXY retraced from a 14-year high since this Tue, due to the wane of bullish momentum. The near term major support line at 102.50 was broken this morning, following the […]

  • GBPUSD Trade Below Major Resistance, Eyes on FOMC and Supreme Court Decision

    Yesterday the UK Markit Manufacturing PMI was released, rose to 56.1 in Dec from 53.6 in Nov, surpassing expectations of 53.0, and marking the best reading since Jun 2014. This morning we have seen the release of a series of UK economic figures, all better-than-expected. PMI construction (Dec) was 54.2, surpassing expectations of 52.8. Consumer […]

  • EURUSD Tests Significant Support Prior to US ISM

    Dollar firms again during European Session this morning, following the substantial retracement ahead of the New Year break. On the 4 hourly time frame, the dollar index (DXY) rallied again after testing the downside uptrend line support. Although with less bullish momentum, the uptrend has not reversed yet. It is currently trading above the level […]

  • FTSE Nears Major Resistance Prior to X’mas

    The FTSE index has seen a 14.72% gain this year. The trend has turned upwards after hitting a 3-year-and-seven-month low of 5495.05 on 11th February. The price has been held above the mid-term major support at 6600, oscillating in a range between 6600 – 7100. The bullish momentum has increased since 5th Dec, helped by […]

  • GBPUSD and EURUSD Test Supports After a Substantial Fall

    GBPUSD has turned bullish, and been trading above the downside uptrend line support since 25th Oct, due to the strengthening of the Sterling. As a result of a strong dollar caused by the Fed’s interest rate decision and announcement, GBPUSD has retraced with a long bearish candle, and the downside support line was broken on […]

  • FOMC Decisive Moment This Evening

    EURUSD has rebounded since 12th Dec, after testing the near term major support level at 1.0530. This morning we have seen a sell off after the price tested the resistance level at 1.0660. The current trading pattern is likely to oscillate in the range between 1.0600 – 1.0660. The resistance level is at 1.0660, followed […]

  • GBPUSD Trades Below Major Resistance

    We have seen the release of a series of the UK inflation figures for November this morning. PPI and Core PPI (YoY) were lower than expectations, yet better than the previous figures. CPI and Core CPI figures were slightly higher than expectations. GBPUSD has held above the support level at 1.2550 since 8th Dec, after […]

  • Oil Prices Hit a 17-Month High on OPEC and Non-OPEC Meeting Outcome

    OPEC held a meeting last Sat 10th Dec in Vienna, although only 5 out of 16 countries attended, including Russia, Kazakhstan, Oman, and Mexico. Yet an outcome of output cut was reached for the first time for OPEC and Non-OPEC countries, since 2001 to cut oil output. Despite the Baker Hughes US oil rig count […]

  • Economic Figures Support GBPUSD

    GBPUSD has seen a substantial fall of 1.155% from 6th to 8th December, after testing the resistance level at 1.2750. Yesterday the price has rebounded after testing the support level at 1.2550. This morning we have seen the release of a series of the UK figures. The Consumer Inflation Expectations was 2.8%, surpassed the previous […]

  • EURUSD Trades Below Significant Resistance Before ECB Announcement

    The Italian referendum weighed on EUR/USD, fell to a year low of 1.0506 on 5th December. It was followed a quick recovery, as a result of the rebound of the Euro after testing the significant support level at 1.0500. Yet it retraced after testing the significant resistance level at 1.0800. On 6th December, EUR/USD has […]

  • Australian Q3 GDP Hit Aussie, Yet Holds Above Uptrend Line Support

    AUDUSD has seen a significant retracement since the US presidential election, as a result of the strengthening of the dollar. We saw the release of the Australian Q3 GDP YoY figure overnight, was 1.8%, much lower than expectations of 2.5% and the previous figure of 3.3%. The weak GDP figure weighed on the Aussie, it […]

  • Can DAX and Euro 50 Remain Bullish in the Resistance Zones ?

    The outcome of the Italian constitutional referendum drove the DAX index down to a low of 10426.60 yesterday, yet it was followed by a sharp reversal, hitting a week high of 10743.25. The intraday volatility was about 316 points, or a 3.04% rebound. Yet the current price is trading around the near term major resistance […]

  • EURUSD Rebounds Sharply After the Hit of Italian Referendum

    The Italian referendum was held yesterday, the outcome turned out to be rejection, in line with polls. The Italian PM Renzi subsequently announced his resignation. During the opening of the Asian session on Monday 5th December, the outcome of the referendum weighed on EUR/USD, fell to a year low of 1.0506. Yet it was followed […]

  • GBPUSD Surged, EURGBP Holds Above Major Support

    GBP/USD has turned bullish, and been trading above the downside uptrend line support since 25th October, due to the strengthening of the Sterling. This morning we saw the release of the UK Consumer Credit and Mortgage Approvals figures for October, were 1.618 billion and 67.518 K, both better than expectations of 1.5 billion and 65 […]

  • Dollar Correction, Time For USDJPY and EURUSD to Consolidate?

    USD/JPY has seen a substantial gain of 7.68% since the US presidential election, due to the firming of the dollar. The price has been moving along the downside uptrends line support from 9th to 25th November, indicating strong bullish momentum. Yet on the 4 hourly chart, the price broke the trend line support on 28th […]

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