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 […]
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 […]
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 […]
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 […]
EUR/JPY has turned bullish since the US presidential election date, trading above the uptrend line support, as a result of the weakening of the yen. From 9th to 24th November, the bullish momentum has pushed the price up 3.72%. This morning the price hit a 5-month high of 120.15. Last night we have seen the […]
The Nikkei 225 Index has seen a substantial rally of 7.24%, since the US presidential election, as a result of the weakening of the yen, boosting Japanese exports. The price has been trading above the downside uptrend line support post the election date, indicating strong bullish momentum. The trend remains bullish, yet the current price […]
OPEC will hold the next meeting in Vienna on 30th Nov, discussing about further details regarding output freeze. Due to the market expectations on the likely agreement after the meeting, oil price has rebounded since 14th Nov, after testing the long term significant support line at 43.00. From 14th to 22nd Nov, WTI spot has […]
The UK Prime Minister Theresa May made a speech in the CBI conference yesterday, expressing that businesses don’t want a sudden and overnight transformation in ¬trading conditions, and she wants to avoid ‘cliff edge’ after the Brexit. She also suggested that the corporation tax can be cut to a record low. The statement pushed Sterling […]
EURUSD has retraced 2.99% from the US presidential election date, to 18th Nov, as a result of the strengthening of the dollar. It has marked 10 consecutive losing days from 7th to 18th Nov. EURUSD hit an eleven-month low of 1.0568 on 18th Nov, yet the price has rebounded after testing the long term significant […]
USDJPY has seen a substantial gain of 4.95% rally since the US presidential election, due to the firming of the dollar. The price has been moving along the upper band of the Bollinger Band indicator post the election, indicating strong bullish momentum. The trend remains bullish, yet the current price is nearing the mid-term major […]
AUD/USD has turned bearish, and has seen a substantial fall since the US election night, due to the sharp reversal of the dollar. Yesterday AUD/USD broke the psychologically important support level at 0.7500, due to a further rally of the dollar. This morning we have seen the release of Australian Unemployment Rate and Employment Change […]
The S & P 500 index has seen substantial gain post the US election. The trend remains bullish, yet the current price is trading below the near term major resistance zone, between 2190 – 2200, the selling pressure is heavier at this level. The bullish momentum is like to be restrained at this level. The […]
GBPUSD has been bullish since the end of October, trading along the downside uptrend line support. This morning we saw the release of a set of important UK economic figures, including CPI and Core CPI YoY (Oct), were 0.9% and 1.2%, both lower than expectations of 1.1% and 1.5%. The underperforming CPI figures weighed on […]
EURUSD hit 10 months low, broke two significant support levels during Asian sessions today, which are the mid-term and long term levels at 1.0850 and 1.0800 respectively, due to the recent substantial gain of the dollar. The upside selling pressure has been increasing. On the 4 hourly chart, the price has been moving along the […]
EURGBP has retraced 1.3% since 3rd November as Sterling strengthened. The current trend for EURGBP remains bearish, yet It is trading above the 50 SMA, where the support line at 0.8760 converges. The bearish momentum is likely to be held at this level. The downturn will likely test this level, if it is confirmed broken, […]
AUDUSD rallied since 28th October after testing the support line at 0.7550. The range between 0.7500 – 0.7550 is the major support zone. Yesterday the price broke the resistance level at 0.7700, yet it retraced after testing the mid-term major resistance zone between 0.7730 – 0.7760. Today the price fell below the level at 0.7700. […]
AUDUSD rallied since 28th October after testing the support line at 0.7550. The range between 0.7500 – 0.7550 is the major support zone. Yesterday the price broke the resistance level at 0.7700, yet it retraced after testing the mid-term major resistance zone between 0.7730 – 0.7760. Today the price fell below the level at 0.7700. […]
USDCAD is currently trading at the resistance zone, between 1.3400 – 1.3450. The price is holding above the near term major support zone, between 1.3330 – 1.3360, which is providing a solid support. The current trading pattern is likely to oscillate in the range between 1.3360 – 1.3450. The 4 hourly Stochastic Oscillator is around […]
GBPUSD has turned bullish and been trading above the downside uptrend line support since 31st October, as a result of the weakening of the dollar. Today we saw the release of the UK Markit Services PMI, rose to 54.3, surpassing expectations of 52.4, and the previous figure of 52.6. The outperforming figure helped GBPUSD rally […]
EURUSD has broken the significant resistance level at 1.1000 with strong bullish momentum yesterday, as the dollar weakened, caused by the narrowing US polls. The current price is trading below the short term major resistance zone, between 1.1100 to 1.1140, the selling pressure will get heavier at this level. The 4 hourly and the daily […]
This morning we saw the release of the Eurozone Q3 GDP (QoQ and YoY), also the Eurozone CPI and Core CPI figures for October (YoY), all in line with expectations. EURUSD has been oscillating in a downtrend channel since the beginning of October, due to the strengthening of the dollar and the ECB statement of […]
USDJPY broke the near term major resistance level at 105.00 with a long bullish candle, the level has turned into a support level. On the 4 hourly chart, the price has been moving alongside the upper band of the Bollinger Band indicator, indicating a strong ongoing bullish momentum. USDJPY has been bullish and trading above […]
USDCAD has been moving along the downside uptrend line support since 19th October, due to the recent strengthening of the dollar. The current price is still holding above the support line. Yet it is trading below the mid-term major resistance level at 1.3400, the selling pressure above this level is heavy, the price will likely […]
USDJPY has been bullish and trading above the near term uptrend line support since 27th September, helped by strengthening of the dollar. Yesterday we saw the release of the US Markit Manufacturing PMI for October, rose to 53.2, surpassed expectations of 51.5, hit a 12-month high. The outperforming figure pushed USDJPY up and tested the […]
This morning we saw the release of the German and Eurozone Markit Manufacturing, Services and Composite PMI figures for October, all better-than-expected and the previous figures. The outperforming readings pulled EURUSD away from the support line at 1.0850. EURUSD has been oscillating in a downtrend channel since the beginning of October, due to the strengthening […]
The DAX index has rebounded 5.6% since 30th September, and the bullish momentum has been strengthened since 13th October, as markets looked forward to clues of further easing measures from Thursday’s ECB statement. Yet it is currently trading below the short term major resistance zone between 10750 to 10800, the pressure is heavy at this […]
This morning we saw the release of German PPI YoY and MoM figures for September. The former fell to -1.4%, compared to expectations of -1.2%. The latter was -0.2%, in line with expectations. Also we saw the release of UK Retail Sales and Core Retail Sales (YoY and MoM) for September, all lower than expectations. […]
The Fed Vice Chair Fischer made a speech yesterday, stating that low rates can lead to longer and deeper recessions, making the economy more vulnerable. The hawkish statement weighed on US stock markets. The S & P 500 index (#USSPX500) broke the short term major uptrend line support on 11th October, as market expectations on […]
The near term major support level at 1.1000 for EURUSD was broken last Friday, as the dollar strengthened. The next support line, the short term major support level at 1.0950 was tested and held this morning, which provides a strong support. In addition, the daily and 4 hourly Stochastic Oscillators are both below 20, suggesting […]
WTI pulled back since this Tuesday after testing the mid-term major resistance level at 52.00. The first support level at 51.00 was broken on Wednesday. The price rebounded after testing the short term significant support line at 50.00. This level is crucial, if it keeps on holding above the level, indicating the bullish trend remains […]
