The Reserve Bank of Australia is widely anticipated to lower its cash rate for the second straight meeting when it announces its next policy decision at 0430 GMT on Tuesday. After cutting rates for the first time in nearly three years in June, the RBA is expected to ease policy again amid a cooling global […]
China and the United States agreed to return to the negotiating table during the G20 summit in Osaka. US President Donald Trump expressed his willingness to reduce the pressure on Huawei and postpone the introduction of new duties for at least six months. In turn, China agreed to resume purchases of American agricultural products. The […]
Gold prices have reversed back down again after finding resistance at the six-year high of 1439 at the end of the preceding month. Currently, prices are developing within the Ichimoku cloud and the red Tenkan-sen and the blue Kijun-sen lines are pointing down, suggesting more losses. The 20- and 40-simple moving averages (SMAs) posted a […]
Euro: Growth under pressure. The euro is in a growth trend against the dollar, but on Monday morning we see a corrective decline – up to 1.1250, this is within the correction. The Trump-China deal happened over the weekend, stopping the trade war at least for a time. The new week has a lot of […]
EUR / USD On Friday, June 28, trading ended again for EUR / USD without any exchange rate changes. The foreign exchange market kept a close eye on any reports from Osaka, where the G-20 summit took place. Actually, the market was most interested in possible negotiations between Beijing and Washington at this summit. Donald […]
Trade ceasefire propels stocks and dollar higher, sends safe havens lower Oil rejoices on trade truce and OPEC agreement ISM manufacturing PMI today may be crucial for Fed expectations Risk sentiment lifted as Trump & Xi decide to restart trade talks The pivotal meeting between the American and Chinese leaders concluded with a market-friendly outcome, […]
To open long positions on EURUSD you need: The decision of the two leaders to continue working on the agreement led to a fall in the EUR/USD pair. The trend is gradually changing. Therefore, at the moment, it’s best to expect long positions after updating larger support levels around 1.1311 and 1.1284, but the main […]
EURUSD remains under pressure and risk is still to the downside in the short-term as prices continue to drift below the 38.2% Fibonacci retracement level of the downleg from 1.1815 to 1.1110 near 1.1380. After the pullback on the three-month high of 1.1410, technical indicators reversed lower as well, suggesting a possible bearish bias again. […]
The dollar received temporary support following the recent events. This is not only a temporary truce between the United States and China in a trade war: traders also responded to the meeting between Donald Trump and Kim Jong-un. The US president visited North Korea for the first time in history, inviting his odious colleague to […]
Technical Overview: The EUR/USD pair has finally made a move and this time the bears are in control of the market as the technical support at the level of 1.1343 has been violated. The price has hit the 38% Fibonacci retracement at the level of 1.1323 already and now might be going lower. The next […]
GBP/JPY has cleared short-term important resistance at 137.33 indicating that wave 2 completed with the 135.35. Now wave 3 is in motion for a new impulsive rally that ultimately should break above the 148.87 peak. Short-term support is now seen at 137.20 with important support seen at 136.24. This later support must protect the downside […]
EUR/JPY should push higher to challenge short-term important resistance at 123.18 and a break above here will call for acceleration towards 124.18 and 125.26 as the next hurdles on the way higher. Ultimately we expect the former peak at 127.50 to be broken for a continuation higher to at least 129.60 and likely even closer […]
When the European market opens, some economic data will be released such as Unemployment Rate, Private Loans y/y, Italian Monthly Unemployment Rate, M3 Money Supply y/y, Final Manufacturing PMI, German Unemployment Change, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI. The US will also publish the economic data […]
In Asia, Japan will release the Consumer Confidence, Final Manufacturing PMI, Tankan Non-Manufacturing Index, and Tankan Manufacturing Index. The US will also publish some economic data such as ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI. So there is a probability the USD/JPY pair will move with low to medium […]
Forecast for July 1: Analytical review of H1-scale currency pairs: For the euro / dollar pair, the key levels on the H1 scale are: 1.1452, 1.1428, 1.1404, 1.1388, 1.1353, 1.1334 and 1.1305. Here, we continue to follow the development of the upward structure of June 18. At the moment, the price is in the correction […]
EURUSD remains in a medium-term bullish trend after bottoming at 1.11 and started making higher highs and higher lows. The break above 1.1350 was an important bullish sign and this back test is of similar importance. Green line – support trend line Red rectangle – support area EURUSD has tested this past week the 1.1350 […]
Gold bulls tried to recapture the short-term resistance area of $1,415-25 but where not strong enough. Gold price remains close to the $1,400 resistance and I believe that next week it is more probable to break it and move towards $1,380. Blue line – bearish divergence Green line – trend line support Red rectangle -support […]
Industry news: “A softening in the core PCE deflator earlier this year was a big factor in the Fed’s shift to a more accommodative stance. That key measure of inflation rose to 1.6% today and the sequential increase in recent months suggests modestly firmer footing in Q2, though not enough to dissuade the Fed from […]
The euro felt very confident at the beginning of the last week of June contrary to Mario Draghi’s hints at a weakening of monetary policy, as well as weak statistics on European inflation, business activity in the manufacturing sector and the German business climate. Investors have adopted the depth of the potential monetary expansion of […]
On May 3rd, the GBPJPY pair initiated the depicted bearish movement channel around 146.45 On March 21st, another visit towards the upper limit of the same channel (141.70) was demonstrated. Since then, the depicted downtrend/channel has been intact until June 4 when the pair failed to achieve a new low below 136.50. This was followed […]
Crypto Industry news: According to reports in the crypto press Thursday, cryptocurrency exchange Binance is talking to Facebook about getting involved in the social media giant’s upcoming Libra project. Finance Magnates says it spoke to Binance at the FinTech Junction event in Israel on Thursday, with the exchange’s CSO, Gin Chao, saying that early discussions […]
The euro is on its way to the biggest monthly losses in 17 months, as traders doubt whether the ECB will have enough firepower to support a weakening economy and boost inflation. The June data is expected to show inflation in the eurozone at 1.2%, well below the ECB target. The regulator has promised to […]
According to analysts, three factors will come into effect on the oil market in the second half of 2019. They will determine the demand for black gold, experts believe. Previously, growth drivers were US sanctions against Iran’s oil sector, rising tensions in the Persian Gulf and the threat of recession in the global economy. Now, […]
The Singapore dollar was the dominant currency in the pair while the pound sterling was trying to regain grounds. The quotes of the pair reached 1.7120 support area. The Bank of England is still on its tightening bias towards a rate cut. The ultimate inflation target set by the BOE is 2%. Ministry of Trade […]
The manufacturing sector is remarkably important for the America’s technology and innovation leadership but also for the jobs market and thus any negative warning about the sector is a headwind to the economy and consequently to the dollar. The problem today is that the import tariff barriers imposed by the US government to China and other key […]
In just a week and a half, a pair of USD / CAD fell almost 400 points. The June rally was driven by many factors. Good macroeconomic reports, successful negotiations between Trump and Trudeau, the expectation of USMCA ratification, the growth of the oil market and the low profile of the Bank of Canada — […]
The main topic for the markets is the negotiation between Trump and Xi Jin Ping (China) at the G20 summit in Japan – on trade disputes. The market is set to positive from the negotiations – if the positive is confirmed – the growth of stock markets and a new wave of falling of the […]
After updating the maximum of 13600 USD, traders began to take profit, which led to a very serious surge in volatility in the market, which was observed for a long time. However, the level of 10500 remains very large support, on which much will depend in the medium term. Signal to buy Bitcoin (BTC): Buyers […]
It’s another action-packed week, with the pivotal G20 summit that will decide how risk sentiment develops, finally upon us. Elsewhere, the Reserve Bank of Australia (RBA) is expected to slash rates again, while oil traders will pay close attention to the OPEC meeting. Economic data are not in short supply either, with the US employment […]
Intel’s stock is moving lower after finding significant resistance at the 50-day simple moving average (SMA). However, price action since late May consists of higher lows, the short-term picture seems to have shifted to cautiously positive. Thursday’s downward tendency is supported by short-term momentum oscillators as well, with the RSI being in positive territory and pointing […]
