For the previous trading day, the euro / dollar currency pair showed a low volatility of 30 points, as a result of which, it remains in the same range of fluctuations. From the point of view of technical analysis, we see that after the correction, the quotation went smoothly into the stage of accumulation, forming […]
EUR / USD On Monday, July 15, trading ended for EUR / USD by a 10 bp decline. However, in general, quotations move away from the lows reached on July 9. As to the wave marking, the question is if it’s still open after July 18. It’s either the wave c is already completed, and […]
The US dollar is strengthening its position against the euro and the British pound at a fairly calm pace. The absence of important fundamental statistics yesterday shows which side has the advantage. Data on the growth of production activity in the area of responsibility of the Federal Reserve Bank of New York allowed the US […]
USDCHF rebounded on the 38.2% Fibonacci retracement level of the upleg from 0.9185 to 1.0235 near 0.9830 during yesterday’s trading session, touching the 20-day simple moving average (SMA). In the short-term, the market could turn positive if the RSI keeps moving around the 50 level, however the red Tenkan-sen line, as well as the blue Kijun-sen line, […]
The earnings season is one of the most important periods in the market because it gives investors an indication about how the companies are performing. The earnings season kicked-off yesterday after Citigroup announced its Q2 performance. In the quarter, the bank reported earnings of $1.95 a share, which was slightly above the expected $1.80. Part […]
In June, Facebook announced that it was working on a cryptocurrency that will be launched in 2020. To work on the currency, the company teamed up with 27 other large companies like Visa and Mastercard. These companies had committed at least $10 million for the project. Because of their size and scale, these companies would […]
The kiwi rose slightly today in the Asian session after New Zealand released its CPI data for the second quarter. The data showed that the CPI rose to an annualized rate of 1.7%, which was higher than the previous 1.5%. This was in line with the expectations. On a QoQ basis, the CPI rose to […]
With the new UK Prime Minister not expected to be announced until next week, Brexit news could remain scarce for now, shifting the focus back to data. Inflation figures for June are due on Wednesday, before retail sales numbers on Thursday, both at 08:30 GMT. The pound remains at very low levels as fears of […]
Morgan Stanleys’ stock has been incrementally following the north road since the end of December, and in the last month has risen from a three-month low of 40.40 to face the ultimate battle with the 200-day simple moving average (SMA). Presently, it is facing short-term resistance at the previous weeks’ break high above the 200-day […]
4-hour timeframe Technical data: The upper linear regression channel: direction – down. The lower linear regression channel: direction – down. The moving average (20; smoothed) – sideways. CCI: -8.6999 The British pound spent about two days above the MA, once again showed its inability to grow and returned to the area below the MA. Thus, […]
Crypto Industry News: Ethereum’s co-founder, Vitalik Buterin, proposed the use of Blockchain Bitcoin Cash as a temporary scalability solution for the Ethereum network. The developer presented a summary of this idea in an article published in Ethereum Research. The Ethereum network has experienced some scalability problems because its native Blockchain can process just 15 transactions […]
4-hour timeframe Technical data: The upper channel of linear regression: direction – up. The lower channel of linear regression: direction – down. The moving average (20; smoothed) – sideways. CCI: 30.3935 The first trading day of the week for the EUR/USD pair ended exactly as it began. The volatility of the pair remained very low, […]
Crypto Industry News: A bill that allegedly would ban the use of cryptocurrencies in India is disseminated by Blockchain’s local legal experts in social media. An unverified document published by technical lawyer Varuna Sethi seems to disclose a bill entitled “Ban cryptocurrencies and regulation of official digital currencies.” Even if it is authentic, the bill […]
CADJPY is hovering near the 50.0% Fibonacci retracement level of the downleg from 89.25 to 76.60. After the rebound on the two-year low of 76.60, the pair has been lacking direction, confirmed by the technical indicators. The RSI is flattening in the positive area, while the MACD is moving sideways near the trigger line. An […]
US retail sales and remarks by Powell top the agenda today UK jobs data may be watched as Brexit news flow remains limited Kiwi ticks up, despite lingering RBNZ rate-cut speculation EU Commission chief awaits Parliamentary confirmation Dollar looks to US retail sales and Powell’s remarks The greenback recovered some ground to start the week, […]
GBPUSD returned to the red zone and near a key support area around 1.25 after attempting to recover during the past three sessions. Chances for a meaningful rally in the short-term are currently viewed as minimal as the market action continues to take place comfortably below the simple moving averages (SMA) and the Ichimoku cloud, while the RSI and the MACD […]
WTI crude oil futures recorded an upside rally last week, but this week the price is on the backfoot after the bounce off the significant barrier of the 23.6% Fibonacci level of the upward wave from 42.50 to 66.60 near 60.90. The technical indicators fail to give clear direction as the MACD is flattening in […]
Canada will publish June inflation data on Wednesday at 12:30 GMT as well as retail sales numbers for May on Friday, also at 12:30 GMT. Following, the Bank of Canada’s surprisingly overcautious tone at the last policy meeting, investors will be watching to see if the upcoming data support the Bank’s view that the recent […]
USDJPY has broken out of a triangle pattern with a bearish break down. USDJPY has broken below 108 support area and the lower triangle boundary. Price has now back tested the break down area and got rejected. Red rectangle – resistance (previous support) Blue lines – triangle pattern USDJPY has broken down and out of […]
EURUSD has bounced off the 1.1250 support area as important Fibonacci support was found there. Price however has still not broken above recent highs and as long as price is below 1.1285-1.13 we remain cautiously bullish with tight stops. Red lines – bearish channel (broken) Green line – trend line support Blue rectangle – pull […]
The Gold didn’t have enough power to break the resistance at $1.419 and I saw the good rejection there, which is sign for me that buyers got very exhausted there. Since there is rejection of the resistance in the background, I would watch for selling opportunities. Gold also did back into the 24 balance range, […]
Gold price trades around $1,415 with price trapped inside the trading range its been in since the beginning of July. Gold price mainly moves sideways respecting both support at $1,385 and resistance at $1,439. Red rectangle – support area Yellow rectangle – resistance area Gold price is in a neutral short-term trend trading between $1,440 […]
Industry news: Tech giant Samsung Electronics is joining six other major South Korean firms to develop a blockchain-based certificate and ID authentication network. Announced on Sunday and reported by CoinDesk Korea, the other founding firms include mobile carriers SK Telecom, LG Yuplus and KT, two banks – KEB Han and Wooriand – and government-founded securities […]
Goldman Sachs stock had been consolidating since January but in the previous week, the price successfully surpassed the 210 resistance and the 50.0% Fibonacci retracement level of the downleg from 275 to 151.50 near 213.23, violating the range area to the upside. The sideway move held within 180.60 and 210 levels. The MACD is picking up speed in positive territory, […]
Last week US stocks reached record levels after receiving support from Jerome Powell, who vowed to support the economy in testimonies to congress. This was interpreted to mean that the central bank would slash interest rates in the upcoming meeting. This will be a good thing for the market because it will help reduce the […]
China is the second-biggest economy in the world with a GDP of more than $11 trillion. Over the years, the country has emerged to be the most important country in the world. This is because of its state as the world’s biggest producer and the biggest consumer. As such, investors interpret its data to be […]
Earlier today, China released important data that will set the tone for the rest of the day. Numbers from the country’s statistics office showed that the economy’s economy grew at an annualized rate of 6.2%. This was in line with the expectations. It was the lowest growth rate in more than 27 years. On a […]
The Reserve Bank of New Zealand (RBNZ) has clearly stated in June that further monetary easing might be needed over time to help the central bank to meet its inflation and employment objectives. On Monday at 2245 GMT the Consumer Price Index (CPI) report is likely to show that inflation has heated up in the second quarter, […]
GBPNZD, consumed by a two-month downtrend from a seven-month high of 2.0020, had sellers today grab the reins once again to restart another bearish rally south. The momentum indicators confirm the persisting down move, with MACD starting to turn down to cross the trigger line, in the negative area, and the RSI agreeing, as it […]
Let’s say, the dollar symbolically become cheaper by about fifty points at the end of last week, in relation to the single European currency and the pound. In many ways, the reason for this behavior lies in the actions of the Federal Reserve System. True, the matter is not in the statements of representatives of […]
