Crypto Industry News: The director of Blockchain and DLT at the World Economic Forum (WEF), Sheila Warren, claims that Blockchain can be a solution to the deteriorating crisis of confidence around the world. Warren claimed that public confidence in governments, banks, media, and institutions in the United States “erodes quickly”. Then she noticed that he […]
Technical Market Overview: The EUR/USD has tried to break through the technical resistance at the level of 1.1273 and made the new local high at the level of 1.1277, but failed to continue as Shooting Star candle was made at this level. Any breakout through this zone will change the temporary outlook from bearish to […]
The GBP/JPY pair has recovered from 136.63. Now it is testing important resistance at 137.48. If this resistance is broken too, then we see wave 2 as complete and wave 3 developing for an ultimate break above the March peak at 148.87. Support is seen near 136.97 which ideally will protect the downside if wave […]
Technical Market Overview: The GBP/USD pair has managed to break above the technical resistance at the level of 1.2683 and is heading towards the next technical resistance located at the level of 1.2747. The momentum is now positive and quite strong, but the market conditions are starting to become overbought. As long as the level […]
EUR/JPY is about to test important resistance at 122.26 and a clear breakout above it will confirm that the wave ii has completed with the test of 120.75 and the wave iii is developing for a new impulsive rally to above 127.50. Short-term support is now seen at 121.27 which will protect the downside for […]
EURUSD is challenging the important horizontal resistance at 1.1260. Having broken out and above the medium-term bearish channel it was in since last December, EURUSD has the potential for a new upward move that will bring price even above 1.2550. So what is the risk for bulls expecting a new long-term upward move?Only 160 pips […]
Gold price made a pull back today towards $1,320-18 area as we expected from our last analysis yesterday. Price then turned back upwards towards its recent highs. Trend remains bullish. A pause to the sharp rise is expected in order for the market to digest the sharp move. Black line -major resistance trend line (broken) […]
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 […]
BTC has nice drop as we expected yesterday. Our downward target at the price of $7.990 has been met. We still expect more downside on the BTC to come. Blue rectangle – Support 1 and downward target- $7.416 Pink rectangle – Support 2 and downward target 2- $7.025 White rising line – Support (bearish flag […]
Gold has been trading upwards as we expected. The price tested the level of $1.324 and then started to consolidate. We still expect more upside on the Gold, so watch for buying opportunities. Blue rectangle – Upward target $1.345 White lines- flat channel White rising line – Support $1.319 We found that today is nothing […]
In recent days, the US currency is cheaper against most of its major competitors, as investors began to lay in the quotes a higher probability of a decrease in the interest rate by the Fed before the end of this year. Investment banks such as Barclays, JP Morgan, NatWest Markets, have already said that they […]
The European currency failed to hold at weekly highs after the release of a more than disappointing report on the annual inflation rate in the eurozone, which slowed sharply, pushing even further expectations of the European Central Bank to reach the target level of 2.0%. Oddly enough, these data came out just at the time […]
To open long positions on GBP/USD, you need: Buyers of the pound coped with the morning task and reached the resistance of 1.2697. At the North American session, their task will be to break this range with the subsequent update of the maximum of 1.2744, where I recommend fixing the profit. When the pound is […]
To open long positions on EURUSD, you need: In the first half of the day, I paid attention to the resistance level of 1.1261 and the formation of divergence on the MACD indicator, which led to a downward correction. At the moment, the support is provided by the level of 1.1230, and the task of […]
Oil moves in tandem with US stocks and the yield of US Treasury bonds, which indicates growing investor fears about the impact of trade wars on global demand for black gold. Speculators for the fifth week in a row reduce net longs for Brent and WTI, which contributes to almost 20% of the collapse of […]
The escalation of the US-China trade conflict, which resulted in the collapse of the stock exchanges, has burned $4.6 trillion in May. It left the American government debt market to the upside. Investors are running into defensive assets, as concerns about a slowdown in economic growth intensify. The Federal Reserve can pour money again over […]
The American dollar has already received a real, not imaginary blow, probably for the first time in recent months after Fed member of the Federal Reserve Bank of St. Louis James Bullard said in his speech that lowering interest rates in the near foreseeable future may be justified. Bullard himself has a “dovish note” in […]
May was a mixed month for global stocks. The main indices dropped in the final part of the month as shown below. The reason for this decline is that Donald Trump restarted his trade war with China. The chart below shows the performance of the Dow, S&P 500, Nikkei, and EU Stoxx. As the global […]
This week, investors are paying close attention to the Australian dollar. This is because of three key reasons. First, with the trade war raging on, investors are concerned that the Aussie could be affected. This is because the country relies heavily on the health of the Chinese market. A third of its exports are bought […]
The Nasdaq index is the biggest technology index in the world. The index is made up of the biggest technology companies in the world like Google, Facebook, and Amazon. These are some of the most valuable brands in the world used by billions of people around the world. The companies have moved to dominate the […]
Facebook stock price extended its losses over the previous couple of days, finding strong support at the 200-day simple moving average (SMA), marginally above the 38.2% Fibonacci of the wave 218.44 – 123.30 around 160.00. The RSI turned lower after entering oversold territory below 30. At the moment, it continues to head down in support […]
The European Central Bank is due to announce its latest policy decision on Thursday at 11:45 GMT. No change in policy is being anticipated by the Bank but the meeting will still attract plenty of attention as details about the terms of the new round of cheap long-term loans are expected to be revealed. The […]
The past four weeks have been the hardest so far this year for the British pound but also for UK manufacturers, the IHS Markit/CIPS readings showed on Monday. According to analysts, the survey for the services sector might bring better results on Wednesday at 0830 GMT. Still, the outcome may not be very pleasing, reflecting the […]
BTCUSD started the day sharply on the downside, moving closer to the bottom of the Ichimoku cloud and further below the 20- and 40-period simple moving averages (SMAs) in the 4-hour chart. The technical indicators are confirming the latest tweak as the MACD is strengthening its bearish momentum and the RSI is approaching the oversold zone. In case of further bearish […]
The pound against the dollar follows the general trends in the market, dominating the US currency. Over the past month, a pair of gbp / usd has lost more than 600 points, dropping from a price peak in May of 1.3170 to an annual minimum of 1.2558. Therefore, the current correctional growth looks quite logical […]
For the last trading day, the pound / dollar currency pair showed a low volatility of 64 points, as a result of having the structure of the corrective move. From the point of view of technical analysis, we see a steady corrective move on the general weakening of the American currency. The total correction at […]
EUR / USD Just yesterday, I wrote that the current wave marking can be interpreted in a completely different way, and today it has been transformed. Now, at least on May 23, it is viewed as the completion of wave 3, and, accordingly, correction wave 4, within which three waves are already clearly visible, and […]
The focus is still on the US and Chinese trade war, which contributes to the reduction of macroeconomic data around the world. The US production from ISM fell yesterday to 52.1p, which was the lowest level in 2.5 years as the capital leaves the stock and commodity markets. The market continues to focus on the […]
US dollar continues to nosedive as Treasury yields touch fresh lows on rising rate cut expectations RBA cuts rates but Australian dollar defiant as it climbs to 3-week high Tech stocks tumble as US giants, including Facebook and Apple, face antitrust probe Dollar sell-off shows no sign of abating The US currency is headed for […]
