Dovish remarks by key Fed officials push greenback lower WTI crude oil at four-week low amid mixed signals in US-Iran conflict Canadian retail sales and more Fed-speak dominate the agenda today Fed’s Williams argues for preventive easing, sends dollar reeling The greenback continues to attract all the attention, after two influential Fed officials fueled […]
EUR / USD pair Yesterday the euro experienced two hard blows. The first is the news of a possible revision by the ECB of its inflation target, which sent the euro down 34 points and the second is a statement by the head of the New York Fed chief, John Williams. He said the need […]
Crypto Industry News: China is the world leader when it comes to searching for “Facebook Libra” on Google a month after the publication of the white book of stablecoin. According to data from Google Trends, counting from July 18, China is the first on the list of countries that google’s new Facebook cryptocurrency project – […]
GBPJPY is approaching resistance where we might be seeing a reversal below this level. Entry: 135.31 Why it’s good : horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement Stop Loss : 135.89 Why it’s good : 78.6% Fibonacci retracement, Horizontal swing high resistance Take Profit : 134.60 Why it’s good: Horizontal overlap support, 50% […]
USDCAD experienced an uneventful week, moving sideways between the 20-day simple moving average (SMA) and its new ten-month low of 1.3015. In Ichimoku indicators, the red Tenkan-sen is flattening well below the blue Kijun-sen, while the RSI and the MACD keep gaining ground in the bearish territory, all signaling a neutral bias for the short-term. The 20-day […]
GBPJPY is still facing signs of a fading descending move as the RSI and the MACD keep moving higher, posting a positive divergence at a time when price seems to be edging lower in the daily timeframe. Currently, the pair is finding strong resistance at the red Tenkan-sen line of the Ichimoku cloud after it […]
Since May 17, the previous downside movement within the depicted bearish channel came to a pause allowing the recent sideway consolidation range to be established between 1.2750 – 1.2550 with a prominent key-level around 1.2650. In June , temporary bullish consolidation patterns were demonstrated above 1.2650 for a few trading sessions. However, the price level […]
4-hour timeframe The amplitude of the last 5 days(high-low): 74p – 60p – 67p – 125p – 75p. The average amplitude over the last 5 days: 80P(81p). The British pound is finally able to breathe more or less freely after a report on retail sales in the UK in July showed an increase and was […]
4-hour timeframe The amplitude of the last 5 days (high-low): 41p – 37p – 31p – 62p – 34p. Average amplitude over the last 5 days: 41p (47p). From a technical point of view, the downward movement of the EUR/USD pair is absolutely logical. The price has fulfilled the critical Kijun-Sen line, and as the […]
The euro/dollar pair cannot determine the vector of its movement. The weakness of the European currency pulls the price down to the borders of the 11th figure, but the uncertainty of traders in the development of further dollar rally does not allow the EUR/USD bears to identify new price horizons. In general, the fundamental picture […]
Back in June, Temporary Bullish breakout above 1.1335 was demonstrated (suggesting a high probability bullish continuation pattern). However, the EURUSD looked overbought around 1.1400 facing a confluence of supply levels. Thus, a bearish movement was initiated towards 1.1275 followed by a deeper bearish decline towards 1.1235 (the lower limit of the newly-established bullish channel) which […]
The dollar is falling steadily against the basket of major currencies on the second day against the background of weak data on US Treasury bonds and the housing sector. Now, investors are likely to estimate the Fed’s interest rate cut for the first time in a decade. Expectations of a 25 basis point rate cut […]
USDCAD at 1.3030 has challenged the lower boundary of its long-term upward sloping channel from September of 2017 lows. Price has the potential to stage a bullish reversal especially if price breaks above 1.3140. Blue upward sloping lines – long-term bullish channel The decline from 1.3550 could already be over. Price has reached the lower […]
GBPUSD The pound managed to continue its upward correction, which has been observed since yesterday. More than good data on the growth of retail sales in the UK returned to the market even pessimistic traders on bullish growth. The report, which was published today, indicated a sharp increase in retail sales after a decline for […]
EURUSD tried to bounce of the 1.12 support area towards the critical 1.1250 resistance. Price reached 1.1244 but got sharply rejected and price fell back towards 1.12. So far support remains intact. Bulls need to recapture 1.1250 in order to hope for a move towards 1.1350-1.14. Red rectangle -major short-term resistance Black line -resistance trend […]
Gold price after it broke above the short-term resistance of $1,415-20 has reached $1,430 and is now back testing the break out area around $1,420. Failure to stay above the break out level will be a bearish sign and a sign of a false break out. Yellow rectangle – major resistance and double top Black […]
EUR did trade lower in past few hours and we got flush down into the support at the price of 1.1200. Anyway, since the drop happened very fast, in my opinion there is potential for recover up. You should watch for buying opportunities since the EUR is trading near the support levels at the price […]
Silver is having one of its best trading sessions of this year, gaining strong momentum above the descending triangle that was holding since April 2017. This week the price continues to attract buying interest, with the price registering a fresh five-month high of 16.10. The technical indicators are still located in bullish area, with the […]
A short-term buyer’s pullback from a 5-month low generated a few days ago, of 15.5395, had the pair move north to tackle the heavyweight 50-day simple moving average (SMA), coupled with the cloud of the Ichimoku indicator. Nevertheless, some consolidation seems to have come in the last sessions. The MACD crossed above the zero line […]
Crispus Nyaga Japan and South Korea are two of the most important economies in the Asian region. South Korea has a population of more than 51 million people while Japan has more than 120M people. The two economies have a GDP of $4.7 trillion and $1.5 trillion respectively. They are two of the closest American […]
The price of crude oil rose slightly in overnight trading after the Energy Information Administration (EIA) released its inventories data. The numbers showed that the US inventories declined by more than 3.5 million barrels. This was a sharper decline than the 1.5M that investors were expecting. It was also slightly lower than the previous week’s […]
Yesterday, US companies continued to release their earnings. In the trading session, the Nasdaq index declined by 35 points as investors waited for results from Netflix, which is one of the biggest technology company in the world. The company released its report after the market closed. These results disappointed and the stock declined by more […]
The US 500 stock index has pulled back somewhat after touching an all-time high of 3,020 in the prior week, reversing back below the red Tenkan-sen line. Momentum indicators now suggest that the market sentiment might get worse before getting better as the RSI is approaching the neutral area again and the MACD dived below […]
NZDCHF saw some positive divergence in the last several weeks on the RSI which helped it to bounce back from a three-month high tumble from 0.6913 to an eight-month low of 0.6423. Since yesterday the price is trading above the 38.2% Fibonacci retracement level of the down-leg from 0.6913 to 0.6423, of 0.6614 and is heading […]
Dollar retreats as trade concerns fuel Fed rate cut bets Stocks drop, safe havens gain amid risk aversion Aussie climbs after employment data UK retail sales due as pound recovers some losses Dollar grinds lower as July rate cut bets mount The world’s reserve currency retreated almost across the board on Wednesday and continues to […]
Crypto Industry News: France is ready to approve the first ICO operators and other cryptographic companies thanks to the new regulatory approach to the sector. According to media reports, the new regulations – which are to come into force later this month – will allow companies involved in cryptography to voluntarily submit to national standards […]
Technical Market Overview: The EUR/USD pair has bounced again from the technical support located at the level of 1.1206, so the key support at the level of 1.1181 still has not been violated. The bounce is so far shallow and the price is still under the lower channel boundary. The bulls are testing the local […]
Technical Market Overview: The GBP/USD pair has violated the support and the new local low was made at the level of 1.2381 in oversold market conditions. This is also a new swing low at the higher time frame charts, so the breakout is very important as the downtrend continues. The next long-term technical support is […]
USDJPY attempted to cross above the 50-day simple moving average (SMA) and reach the 109 level last week but efforts proved fruitless, with the price resuming negative momentum towards the key 61.8% Fibonacci retracement level of the upleg from 104.64 to 112.39. The downward-sloping RSI suggests a weaker short-term trading. Yet, with the Stochastics flashing […]
NZDUSD successfully surpassed the long-term 200-day simple moving average (SMA), gaining some ground and is holding near the three-month high of 0.6745 that it posted on Wednesday. The double bottom formation that was created around the 0.6480 – 0.6490 support levels with a neckline at the 0.6725 barrier, was completed with today’s break to the […]
