To open long positions on EURUSD you need: Today, a decision on the interest rate in the eurozone will be published, as well as data on GDP, which may put pressure on the euro. Buyers need to climb to the resistance level of 1.1241, and only with a good report on economic growth rates can […]
EUR/JPY tested important resistance at 122.26, but was repelled lower from here. This means, we can not say for sure, that wave ii completed with the test of 120.75, but we find the odds for a bottom being in place at 120.75. Therefore, we still need the final proof in the form of a clear […]
Crypto Industry News: Brazilian banks will implement a new standardized identification solution based on the Hyperledger Fabric platform. The identity solution – developed jointly by IBM and the central bank of the country, CIP – is to be integrated with the Brazilian payment system (SPB) – a system used by all banks and financial institutions […]
Crypto Industry News: According to financial media reports, Hester Peirce, a commissioner in the US securities regulatory body, insisted on a less cautious approach to innovation in the ETF market in the regulatory market. According to the publication, Peirce from the Securities and Exchange Commission (SEC), called on the other commissioners to allow innovation in […]
Technical Market Overview: The EUR/USD has ignored the first warning sign of Shooting Star candlestick pattern and broke through the technical resistance zone located between the levels of 1.1264 – 1.1274. The bulls have managed to make a new local high at the level of 1.1305, but the rally did not last long and reversed […]
Technical Market Overview: The GBP/USD pair has almost tested the technical resistance at the level of 1.2747 as the local high was made at the level of 1.2742 before the Bearish Engulfing candlestick pattern was made and the price reversed. Currently, the market is testing the nearest technical support at the level of 1.2683 in […]
EUR/USD As we expected in the last review, the euro did not have enough fuse to reach the target level of 1.1324. The price very quickly returned below the internal line of the price channel, which formed, albeit weak, but the divergence of price with the Marlin oscillator on the four-hour chart. Losses were capped […]
GBP/USD On the daily chart, the British pound did not reach the price channel line slightly (a target of 1.2756). Due to the rapid price drop in the evening, the signal line of the Marlin oscillator also did not reach the border line with the territory of the bulls. To further reduce the price, it […]
Since January 19th, the EURUSD pair has been moving within the depicted channel with slight bearish tendency. Few weeks ago, a bullish Head and Shoulders reversal pattern was demonstrated around 1.1200 allowing further bullish advancement to occur towards 1.1300-1.1315 (supply zone) where significant bearish rejection was demonstrated on April 15. For Intraday traders, the price […]
On March 29, a visit towards the price levels of 1.2980 (the lower limit of the newly-established bearish movement channel) could bring the GBPUSD pair again towards the upper limit of the minor bearish channel around (1.3160-1.3180). Since then, Short-term outlook has turned into bearish with intermediate-term bearish targets projected towards 1.2900 and 1.2850. On […]
No matter which way, but it seems that Donald Trump has achieved his goal. Long resisted by Jerome, Powell saw the need for a rate cut. Members of the Federal Reserve are closely watching the recent escalation of trade friction and will react if the economic situation in the country deteriorates, the head of the […]
The GBP/USD pair keeps a positive attitude and is trading near weekly highs at 1.2720 against the background of easing pressure from the dollar and the release of strong UK statistics. The May release on PMI was published today. It is a key release for the British economy in the services sector. The indicator unexpectedly […]
The focus of attention this week is the next meeting of the European Central Bank (ECB), which will take place tomorrow. Amid growing concerns about the global economic slowdown due to the US-China trade war, investors have no choice but to wait for new signals from the ECB for a weaker monetary course, as well […]
The rise of the dollar was expectedly stopped by the Fed. The currency has updated the seven-week low against the backdrop of rising expectations of interest rate cuts in response to the risks associated with trade conflicts. Fed Chairman Jerome Powell did not make hints, and specifically promised that the regulator will respond “appropriately” to […]
For the first time since April, the euro-dollar pair has been testing the 13th figure, thereby indicating new price horizons. True, the attack ended in failure – the price quickly moved away from two-month highs, returning first to the opening level, and then completely updating the low of the day. Nevertheless, the euro still looks […]
4-hour timeframe The amplitude of the last 5 days (high-low): 59p – 60p – 86p – 63p – 72p. Average amplitude for the last 5 days: 68p (64p). The British pound sterling continues to grow at a very sluggish pace against the US currency. Jerome Powell’s words yesterday that the US economy may need to […]
4-hour timeframe The amplitude of the last 5 days (high-low): 49p – 27p – 45p – 102p – 50p. Average amplitude for the last 5 days: 55p (52p). The third trading day of the week went well for the European currency. Since May 30, the euro’s non-stop growth continues, which has not yet been interrupted […]
The data on the eurozone services sector provided little support to the euro and instilled confidence in traders in continuing the upward trend, but the inflation and retail sales report quickly returned the market to its morning opening levels. According to the final Markit report, the PMI Purchasing Managers Index for Italy was 50.0 points […]
EURUSD made a break above 1.1260 horizontal resistance but the current 4 hour candle is a bearish one indicating a false break out. This is a bearish sign. Bulls need to retake 1.1250-1.1260 otherwise they will be in trouble. Red lines – medium-term bearish channel Blue rectangle – resistance Green rectangle – support Despite breaking […]
Since January 19th, the EURUSD pair has been moving within the depicted channel with slight bearish tendency. Few weeks ago, a bullish Head and Shoulders reversal pattern was demonstrated around 1.1200 allowing further bullish advancement to occur towards 1.1300-1.1315 (supply zone) where significant bearish rejection was demonstrated on April 15. For Intraday traders, the price […]
On March 29, a visit towards the price levels of 1.2980 (the lower limit of the newly-established bearish movement channel) could bring the GBPUSD pair again towards the upper limit of the minor bearish channel around (1.3160-1.3180). Since then, Short-term outlook has turned into bearish with intermediate-term bearish targets projected towards 1.2900 and 1.2850. On […]
GBP/USD has been trading upwards. Anyway, the wedge formation is still bulding and it is question of the time when we may see sell off. Our advice is to watch for potential selling opportunities. The final destination is 1.2560. White lines – Rising wedge Red horizontal line lower – Downward projection 1.2560 GBP/USD has been […]
Gold has been trading upwards as we expected. The price tested the level of $1.343 and it is near our second upward target from few days ago at $1.345. Careful with longs at this stage since the potential resistance is there. It is good time to take some profit from your longs. Yellow rectangle – […]
BTC price has been trading downwards as we expected. The price reached our downward target at $7.416 and it rejected. Anyway, we are still expecting more downside on BTC due to strong downward momentum in the background. Blue rectangle – support $7.416 Punc rectangle- Downward target and support $7.000 BTC did reject of the support […]
To open long positions on GBP/USD, you need: Despite the good data on the service sector, as well as the fact that the buyers of the pound managed to stay above the support of 1.2697 in the first half of the day and even formed a false breakdown on it, it did not allow to […]
To open long positions on EURUSD, you need: The buyers tried to continue the growth of the European currency in the first half of the day, however, weak reports on inflation and the reduction of volume of retail sales has led to a sharp drop in the euro against the dollar. At the moment, it […]
Overview: The AUD/USD pair is set above strong support at the levels of 0.6937 and 0.6980. This support has been rejected four times confirming the uptrend. The major support is seen at the level of 0.6937, because the trend is still showing strength above it. Accordingly, the pair is still in the uptrend in the […]
In recent weeks, the focus has been on the agricultural sector. The focus has been on the corn and soybeans sectors. This is partly because of the ongoing trade war and ongoing weather issues. On trade, the United States has been in a conflict with China, Mexico, and the European Union. Almost a month ago, […]
Yesterday, US stocks rose sharply after Fed chair announced that the Fed was likely to lower rates if the trade war escalates. Analysts believe that the closest the Fed can lower rates is in its September meeting. In response to the US gains, Asian stocks rose as well. Today, investors will focus on the following. […]
In recent weeks, investors have focused on the trade conflict between the United States and China. This conflict has led to a sharp decline in stocks after having a very strong start. In fact, the Nasdaq index tested the correction level on Monday. These trade fears have expanded to include Mexico after Trump threatened tariffs […]
