Bitcoin – the world’s first cryptocurrency – is eyeing highs not reached since the early parts of 2018 as it almost breaks above $14,000. But as many individuals who invested in the cryptocurrency during its heydays in late 2017 celebrate its revival, has the latest rally already started to lose steam? There are several theories […]
EUR/USD So it happened. On Monday, the euro lost 84 points, and this may indicate a withdrawal of players from speculative purchases of the 3rd decade of June. Business media explains yesterday’s growth as a market reaction to a truce between the US and China, although in reality China remains under the same duties and […]
For the first time, and with special respect to our existing and new Pakistani clients intent on getting educated about forex trading, XM hosted a seminar in the city of Lahore on 22nd June. The seminar, which took place at Pearl Continental Hotel Lahore, aimed to cater for the needs of both beginner and more […]
GBPUSD touched the upper Bollinger band around the 1.2780 resistance level in the previous week, driving the market lower, below the 40-day simple moving average (SMA) and the 23.6% Fibonacci retracement level of the downfall from 1.3380 to 1.2500 near 1.2712. The pair continues the selling interest in the medium-term as it is confirmed by […]
There are signs that GBP/JPY will take off for a strong rally in the wave 3. On the other side, a possible impulsive pattern from 135.35 is not clear yet, which provides additional opportunities. It could also be a leading diagonal. If it is a leading diagonal, we may see a deeper correction closer to […]
EUR/JPY has dipped just below the 122.25 corrective target. We expect the support area between 122.13 – 122.25 will continue to protect the downside for a breakout above minor resistance at 122.42 and, more importantly, above resistance at 123.00 that confirms the next impulsive rally towards 124.14 and higher. Only an unexpected breakout below 121.62 […]
USDCHF is approaching resistance where we might be seeing a drop below this level. Entry: 0.9904 Why it’s good : Horizontal pullback resistance, 61.8% Fibonacci extension, 61.8%, 38.2% Fibonacci retracement Stop Loss : 0.9955 Why it’s good : Horizontal pullback resistance, 78.6% Fibonacci retracement Take Profit : 0.9817 Why it’s good: Horizontal overlap support The […]
Price is at support where a potential bounce to its resistance could occur. Entry : 0.6672 Why it’s good : 23.6% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap support Stop Loss : 0.6606 Why it’s good : 61.8% Fibonacci extension Take Profit : 0.6721 Why it’s good : 50% Fibonacci retracement, horizontal overlap resistance The […]
Price is bouncing up 1st support at 108.118, a bounce could occur. Entry :108.118 Why it’s good : 23.6% Fibonacci retracement Horizontal pullback support 61.8% Fibonacci extension Take Profit : 108.73 Why it’s good :horizontal swing high resistance 61.8% & 50%Fibonacci retracement The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Analysis for […]
USD / JPY pair On the daily scale chart, the price rises upward after convergence along with the Marlin oscillator and the signal line moves to the growth zone. However, the price increase turned out to be excessively strong on Monday. Even a gap was formed that greatly complicates the further movement of the currency […]
According to the survey, production activity in the eurozone declined last month more than previously thought. Pessimistic data is likely to strengthen the position of those who require the ECB to ease monetary policy. In June, the total index of purchasing managers (PMI) from IHS Markit was 47.6 points, which is lower than the previously […]
Minor (Daily) operating scale Let me bring to your attention a comprehensive analysis of the movement options for the development of the EUR / USD vs USD / JPY vs EUR / JPY movement for July 2019 on the Minor (daily timeframe) operational scale. ____________________ Euro vs US Dollar For July 2019, the movement of […]
The desire of the United States and China to make concessions and resume trade negotiations was perceived positively by the markets. Donald Trump promised to suspend the process of imposing sanctions. In addition, the US allowed Chinese Huawei to buy its technology, with the exception of strategic products associated with the G5 network. China, in […]
The exchange rate of the US currency is growing in relation to the majority of its main competitors against the background of the fact that over the past weekend the United States and China reached an agreement on the resumption of trade negotiations. “The market’s positive reaction to the results of the meeting of the […]
The Australian dollar paired with the US currency overcame the key resistance level of 0.7000 at the end of last week, demonstrating a strong upward momentum. For two weeks, the pair grew steadily, rising from an annual low of 0.6838 to a local peak of 0.7027. But the bulls did not manage to stay at […]
4-hour timeframe The amplitude of the last 5 days (high-low): 59p – 112p – 45p – 63p – 72p. Average amplitude for the last 5 days: 70p (77p). on Monday, June 27, the British pound sterling also fell against the US currency, as the index of business activity in the UK dropped compared with May […]
Since May 17, the depicted sideway consolidation range has been 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. This enhanced the bullish side of the market towards 1.2750 (consolidation range upper limit) which has been preventing further […]
The Organization of Petroleum Exporting Countries (OPEC) is meeting in Vienna, and the latest headlines suggest a nine-month extension of the existing production cuts is nearly certain. With OPEC’s output plans now clear, oil prices will take their cue from how the US-China trade talks and the situation with Iran unfold. Trade optimism may keep […]
Bitcoin gained bearish momentum which pushed the price to the level below $10,500. The price may decline towards the psychological area of $10,000 in the short term. The Bitcoin market has been stronger than ever, but its price is following the bearish bias inside the long-awaited correction. At the weekend, the market siggested the scenario […]
EURUSD has pulled back towards 1.13 as expected and explained in our past analysis. EURUSD could continue lower towards 1.1260 before it resumes its up trend. As long as price is above 1.1250 bulls will remain in control of the trend. Red rectangle – support area Green line – major support trend line EURUSD is […]
Gold price has broken below support of $1,400 and as we explained last week, it was vulnerable to a new downward wave towards $1,380-70 area. Price has reached our short-term downside target and important short-term support trend line. Red rectangle – support Blue rectangle – target Green line support trend line Gold price has reached […]
Industry news: European Central Bank (ECB) Governing Council member Klass Knot crossed the wires in the last minutes, reiterating that it was indisputable that inflation was still too low and the bank was determined to act if there were adverse scenarios. “We are still suffering from prolonged uncertainty,” said Knot and added that the outlook […]
CADJPY opened a gap up today, climbing above the 82.60 barrier and meeting the 50.0% Fibonacci retracement level of the downfall from 89.25 to 76.60 near 82.90. Having a look at the momentum indicators, the RSI is sloping up near the overbought threshold and the MACD is strengthening its momentum above trigger and zero lines. […]
Crypto Industry news: Since 2015, when bitcoin became an issue for regulators like the state of New York, the regulation of cryptocurrency (the G20 now calls it as a crypto asset) has been discussed in many places, mainly at bodies like the Financial Stability Board (FSB) and the Financial Action Task Force (FATF). However, Facebook’s […]
Overview: The EUR/USD pair continues to move upwards from the level of 1.1371. Yesterday, the pair rose from the level of 1.1324 to a top around 1.1420. Today, the first resistance level is seen at 1.1441 followed by 1.1484, while daily support 1 is seen at 1.1324 (61.8.% Fibonacci retracement). According to the previous events, […]
The US 30 stock index is currently challenging June’s peak of 26,907 but the positive momentum in the MACD, which trends above its trigger line, signals that a new record high could be achievable as well in the next few sessions. Still, the RSI warns that the market is approaching overbought territory and hence downside corrections cannot be […]
The introduction of additional tariffs on Chinese imports at the beginning of May brought down the USD/JPY quotes below the psychologically important mark of 110. The 5% duty on Mexican imports pushed them below 108.5 due to migration problems. If Donald Trump and Xi Jinping could not agree on the sidelines of the G20 summit […]
The G20 summit did not bring any significant changes in the topic of trade negotiations between Washington and Beijing. The parties only agreed on the continuation of the very fact of the negotiation process, which is not yet clear in what form it will take place, and agreed on a prolongation of the moratorium on […]
With a single European currency, the pound almost the entire past week. Of course, they dropped in price synchronously on Tuesday but it turned out to be almost unnoticed against the general background and was more of a banal technical rebound after the impressive growth of the previous week caused by the outcome of the […]
For the third consecutive year since 2017, UK-based World Finance has yet again acknowledged XM in recognition of its long-standing reputation for excellence in the financial industry by granting it as many as two prestigious awards. At the 2019 World Finance Forex Awards XM received two high accolades: for the third year running we were […]
