This June XM brought forex education even closer than before to Vietnamese clients by hosting free seminars in the cities of Ho Chi Minh and Hanoi. Held in Ho Chi Minh City on 11th June and then in Hanoi on 29th the same month, the seminar titled Introduction to Japanese Candlesticks and the Avramis River […]
AUDUSD is flirting with the 38.2% Fibonacci retracement level of the downleg from 0.7390 to 0.6746 slightly below 0.7000 and is holding inside the Ichimoku cloud. The pair remained above the 20- and 40-day simple moving averages (SMAs) which are flattening as the price is developing within a sideways channel of 0.6830 – 0.7035 in […]
Technical Overview: The GBP/USD pair has broken below the 61% Fibonacci retracement located at the level of 1.2611 and is heading lower. The next technical support is seen at the level of 1.2559 and 1.2529. The key support is seen at the level of 1.2505 and if this level is violated the downtrend will accelerate. […]
According to analysts of the largest Swedish bank Skandinaviska Enskilda Banken (SEB), OPEC countries and independent oil producers have easily agreed to prolong the deal to limit oil production for several reasons. The main one is that the continuation of the agreement has a positive effect on the current state of the largest oil producers, […]
The single currency in the EUR/USD pair continues to be under pressure from the US currency, which is in demand among traders. However, the initial euphoria of dollar bulls, observed after the summit of the G20, is gradually fading away. Paired with the euro, the dollar managed to break through the support level of 1.1305 […]
When the OPEC summit turns into a farce, one should not be surprised that cartel members feel like outcasts. At the G20 meeting, Russian President Vladimir Putin was impatient to tell his colleagues some important news, which he did. The Russian leader said he agreed with the proposal of Saudi Arabia to prolong the agreement […]
Industry news: In her prepared remarks to be delivered in London, Cleveland Federal Reserve Bank President Loretta Mester on Tuesday argued that cutting rates now could reinforce negative sentiment and encourage financial imbalances and added that she’d like to gather more information before considering a change in the monetary policy. The US Dollar Index didn’t […]
Industry news: Binance, the world’s largest cryptocurrency exchange by trading volume, is soon to launch futures trading. During a presentation at the Asia Blockchain Summit in Taipei on Tuesday, Changpeng “CZ” Zhao, founder and CEO of the exchange, showcased a futures trading interface on Binance with features including longs and shorts on crypto assets. .Trading […]
EURUSD is trading right above 1.13 but I believe this bounce from 1.1275 is just a pause to the down trend. Price is expected to move lower towards 1.1250 where we will see a big test of the trend. Green line – major support trend line Red rectangle – target area of possible reversal EURUSD […]
Gold price remains in a short-term bearish trend but medium-term trend remains bullish as long as price is above the break out area of $1,350-60. Gold price could make one minor new lower low but is expected to bounce strongly towards at least $1,400. Green line – major support trend line Red rectangle- broken support […]
The US dollar settled near a three-month low amid weak indicators of industrial production, while the Australian rose after the Central Bank lowered interest rates expectedly, but at the same time voiced a more balanced forecast. JPMorgan’s global production index fell to its lowest level in almost seven years, the sector shrank for the second […]
Since February 28, the EURUSD pair has been moving within the depicted channel with slight bearish tendency. Short-term outlook turned to become bearish towards 1.1175 (a previous weekly bottom which has been holding prices above for some time. On the period between May 17th and June 5th, temporary bearish breakdown below 1.1175 was demonstrated on […]
To open long positions on EURUSD, you need: A weak inflation report on producer prices, which fell, once again allowed euro buyers to form only a small upward correction, which was limited by the resistance of 1.1307. At the moment, the task of the bulls remains the same. A break and consolidation above 1.1307 will […]
Since May 17, the previous downside movement within the depicted bearish channel was paused allowing the recent sideway consolidation range to be established between 1.2750 – 1.2570 with a prominent key-level around 1.2650. On June 4, temporary bullish consolidations above 1.2650 were demonstrated for a few trading sessions. However, the price level of 1.2750 (consolidation […]
The Australian dollar has lost ground against the US dollar after the RBA announced its intention to lower its interest rate. What is more, the greenback was supported by optimistic NFP expectations. The RBA Official Cash Rate report has been published today. It indicated a decrease to 1.00% as expected from the previous value of […]
According to Goldman Sachs, the active policy easing by the European Central Bank (ECB) could give a fresh impulse to the euro decline. “Strengthening the expectations regarding the reduction of the interest rate the Fed provided some support for the EUR / USD pair , but attempts to grow because it may be unsustainable. We […]
The central banks of economically developed countries seem to be confident that the Fed will start lowering interest rates this year, which was clearly manifested in the decision of the Reserve Bank of Australia. They decided to lower the key interest rate by 0.25%, from 1.25% to 1.00% at today’s meeting. As it seems to […]
Negative news on the possible trade war Trump – Europe – due to claims against Airbus from Boeing (Airbus has government support that prevents equal competition) – this led to a strong decline in the euro, which is below 1.1300. The growth trend for the euro stopped, then return to the range – the boundaries […]
Facebook stock price advanced to a fresh one-month high of 195.00 yesterday before ending the day in the red. Momentum indicators signal are neutral to bullish with the RSI flattening in the positive territory and the MACD stretching to the upside above trigger and zero lines. However, the red Tenkan-sen line, which is above the blue kijun-sen line, […]
EUR / USD On Monday, July 1, trading ended for the pair EUR / USD by a decrease of 80 basis points. Such a decline so far fits into the current wave counting, which implies the construction of a downward wave 2 in the composition of wave 3. If this is true, then from the […]
The services PMI out of the UK will be in focus for pound traders on Wednesday at 0830 GMT. But if the manufacturing and construction PMIs are anything to go by, there’s unlikely to be much to cheer about from June’s services activity report. Growing risks of a disorderly Brexit and signs the UK economy […]
To open long positions on EURUSD you need: Euro buyers began to enjoy good data on unemployment in the eurozone, but after a slight correction, the bears returned to the market. At the moment, it is best to look at long positions on a false breakdown around 1.1273, with confirmation of divergence on the MACD […]
The US dollar index has gained some remarkable ground after the climb above the 23.6% Fibonacci retracement level of the upward movement from 88.10 to 98.25 near 95.84. Currently, the index is failing to surpass the 200-day simple moving average (SMA), which coincides with the 96.40 resistance, flirting with a possible drop. However, the stochastic oscillator […]
Trend analysis (Fig. 1). On Tuesday, the price may continue moving downwards with the first target – a pullback level of 61.8% – 1.2612 (blue dashed line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – down; – candlestick analysis is neutral; – trend analysis […]
The pound against the dollar gradually returns to the boundaries of the 25th figure amid a pessimistic fundamental picture and the recovery of the American currency. However, the revaluation of the greenback is of optional importance in this case, considering the gloomy prospects of the “divorce process” of Britain and the European Union. Only three […]
Technical outlook: The EUR/USD pair dropped to 1.1275 in the early hours of trade today before bouncing back. The price is seen to be trading around 1.1290 levels at this moment. The wave structure discussed earlier has been again presented here on the hourly chart with labeling. The initial rally from 1.1180 through 1.1412 levels […]
EUR/USD – 4H. As seen on the 4-hour chart, the EUR/USD pair performed a fall to the correctional level of 50.0% (1.1278). The rebound of the pair from the Fibo level of 50.0% will allow traders to count on a reversal in favor of the EU currency and some growth in the direction of the […]
WTI crude oil futures are on course to jump above the 20-simple moving average (SMA) after they found crucial support at the 50.0% Fibonacci retracement level of the downleg from 66.60 to 50.60 near 58.58 over the last sessions. Having a look at the technical indicators, the MACD oscillator is creating a bearish divergence as […]
Technical Overview: The GBP/USD pair jas broke out of the consolidation zone located between the levels of 1.2746 – 1.2652 and now is heading lower towards the next technical support seen at the level of 1.2605. Please notice the 61% Fibonacci retracement that is located at the level of 1.2611, just above the support. This […]
RBA reduces rates again, but aussie remains unfazed Dollar recovers as July rate-cut bets are scaled back EU leaders resume talks over top jobs; Global PMIs due RBA cuts, but can’t keep the aussie down The Reserve Bank of Australia (RBA) slashed interest rates earlier today, for the second time in two meetings, indicating that […]
