To some extent, the continuing strengthening of the dollar looks somewhat illogical and strange. After all, the second estimate of United States GDP in the first quarter was slightly worse than the first. Yes, the American economy continues to accelerate to 3.1% instead from 3.0% to 3.2%. The fact is that investors have already laid […]
EURNZD is declining below the 20-day simple moving average (SMA) today, confirming the recent bearish structure in the near term. The RSI is moving towards the 50 level, while the MACD is holding below the trigger line but is still hovering above the zero line, increasing speculation for more downside pressure. In case the pair maintains its short-term direction to the […]
The US 30 index futures opened with negative gap today below the 38.2% Fibonacci retracement level of the upward movement from the 16-month low of 21,596 to the 6-month high of 26,712 near 24,754. The index is on the back foot, recording more than four-month low (24,606), and the technical indicators suggest that the market […]
Gold has been trading with the strong up momentum. Anyway, we still expect more upside on the Gold with light pullbacks. You should watch for buying opportunities on the downward correction. Yellow rectangle Daily swing high $1.323 Blue rectangle – Daily swing high 2 $1.345 White line – Upward sloping trendlinge (support) According to the […]
GBP/USD did nice up break on Friday and today we see potential end of the downward correction after the breakout, which is sign that further bullish movement is expected. Green rectangle – Intraday resistance 1.2658 Yellow rectangle – Swing high resistance 1.2698 White lines – Downward channel (broken) According to the H1 time-frame, we that […]
BTC has been trading downwards in past 10 hours as we expected. The price tested the level of $8.332. Anyway, we found that sellers didn’t lost down momentum and we still expect more downside to come. Yellow rectangle – Intraday resistance $8.570 Green rectangle – Short-term support and down target $7.990 White lines – Rising […]
At the end of last week, the US dollar rose against major currencies but the market is experiencing a clear slowdown in its growth rate, which is due to two reasons. One of which is playing all the factors related to the weakness of the main competing currencies, meaning, there are no prospects for higher […]
Bitcoin managed to regain certain momentum after the strong drop towards $8,000 area after rejecting off the $9,000 area with a daily close. Currently, BTC is pushing strongly lower again for a probable double bottom formation according to the analysis of the price action. The bearish divergences between Bitcoin’s price have been spotted. Besides, there […]
By the end of the last trading week, the pound / dollar currency pair showed volatility of 10 points lower than the average daily indicator. The fluctuation was 85 points. From the point of view of technical analysis, we see a very interesting amplitude oscillation, where the quotation for the time flew in the direction […]
To open long positions on GBP / USD pair, you need: On Friday, pound buyers coped with the task of fixing above resistance 1.2623, to which I paid attention in my review. At the moment, while trading is conducted above this range, the demand for GBP / USD will continue, and the formation of a […]
The dollar risks are expected to receive several rather sensitive signals this week, which will indicate the end of the bullish phase. The preliminary PMI data in the Markit version showed a significant slowdown in May, and if they didn’t cause any particular surprise for the manufacturing sector of 50.9p, the drop in the services […]
The Canadian dollar paired with the US currency reached a semi-annual price peak of 1.3560 on Friday but the USD/CAD pair did not succeed in developing the northern trend. The weakness of the greenback, as well as quite good data on GDP growth in Canada, returned the pair to the region of the 34th figure […]
Trend analysis (Fig. 2). On Monday, we are waiting for the continuation of the upward movement with the first target of 1.2705 – a pullback level of 23.6% (yellow dotted line). Fig. 2 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis – […]
Gold reached the most anticipated target area of $1300-10 where one of the most important resistance level resides. It may drag the price down. After the announcement of Mexico tariffs, gold gained momentum as all the market participants were seeking the safe heaven asset. The Trump administration announced on Thursday it would impose a 5% […]
On Friday, the market rallied up, and economic news played a significant role in this. The pair, while moving up, tested the pullback level of 61.8% – 1.1134 (blue dotted line) and closed below. On Monday, strong calendar news come out at 7.55 (euro) and 14.00 (dollar) Universal time. Trend analysis (Fig. 1). On Monday, […]
Gold prices have been in a flying mode over the last couple of days, hitting a new two-month high around 1,315. The yellow metal jumped above the Ichimoku cloud and the 23.6% Fibonacci retracement level of the upleg from 1,160 to 1,346.61, near 1,302 as well as above the 1,310 barrier. The RSI and the stochastic oscillator signal that room for improvement […]
To open long positions on EURUSD, you need: Euro buyers, despite the good data on the US on Friday, managed to reverse the downward trend and start an upward correction. To continue it today, it is necessary to keep above the support level of 1.1163, and the formation of a false breakdown will be the […]
The euro managed to keep up its positive dynamic while the greenback dropped after the release of weak economic reports and escalation of trade war tensions. Despite the US dollar has been the dominant currency in the pair for a few days, certain correction and volatility is expected. Now investors are worried about the possibility […]
Technical outlook: The EUR/USD pair set a rally last Friday as expected after bouncing back from 1.1115/20 levels. The aggressive long trades if they’ve been taken, should be now closed with profits and prepare to go short. The overall wave structure since printing highs at 1.1260 levels earlier, looks to be a sideways consolidation. The […]
US dollar manages to stabilize after Friday’s slump but Treasury yields tumble to fresh lows US-China ties continue to deteriorate but some hope for deal with Mexico Aussie defies gravity, climbs to 3-week highs on upbeat data Dollar off lows but remains weighed by recession risks Markets were mired in a risk-averse theme on Monday […]
After the test of 1/2 WCZ at 1.1136 – 1.1128, the upward movement continued. It is important to note that growth was a priority two weeks ago. The first target of the bullish momentum is the high of last week. Achievement of this mark will allow fixing a part of purchases and transfer the rest […]
EURUSD resumed upside momentum on Friday but the gains were not enough to overcome the 1.12 key resistance area, with the price remaining below its simple moving averages (SMA) as well. The MACD continues to hold close to its red signal line and the RSI keeps fluctuating near the 50 neutral mark, both pointing to a sideways short-term trading. A decisive close above the […]
Since its deep fall towards five-month lows near 108.00 today, USDJPY has been plunging back below the 50.0% Fibonacci retracement level of the upleg from 104.64 to 112.40 near 108.55, creating a base beneath the short-term moving averages. The technical picture supports that the aggressive downfall is likely to continue in the short-term. The %K […]
The focus is on Trump’s trade wars primarily against China. (Also, there is still a war against Mexico and a possible war against the EU). Over the weekend, Morgan Stanley made a forecast that in the event of another wave of increase in the US duties against China and the response of China – the […]
Crypto Industry News: The Australian Securities and Investment Commission (ASIC) published the new official guidelines for the initial coins offer (ICO) and cryptocurrencies on 30th May. The regulator specified the preconditions that a cryptocurrency company must meet to comply with both Australian regulations and ASICs, but did not include provisions enforced by other national institutions. […]
Crypto Industry News: The Japan House of Representatives officially approved a new bill to amend national laws regulating the cryptographic industry. The draft law – prepared by the Japanese Financial Services Agency (FSA) and approved by the House in mid-March this year – was adopted by a majority of votes at the plenary session of […]
Technical Market Overview: The GBP/USD pair has made another lower low at the level of 1.2559 as the downtrend continues. After the low was made, the price bounced and the Bullish Engulfing candlestick pattern was made, which might indicate a stronger bounce this time. Nevertheless, to move higher, the bulls will have to break through […]
EUR / USD pair Last Friday, the euro grew by 40 points. It adds another 18 points in today’s Asian session, which is probably related to the expectations of the appointment of the head of the Central Bank of Germany Jens Weidmann, a supporter of hawkish policy for the post of ECB head. It was […]
GBP / USD pair On Friday, the sterling pound did not reach the bearish target of 1.2530 and sharply turned up, forming a convergence with the Marlin oscillator on the daily scale this morning. At the moment, the price is trying to move above the recent support of 1.2660 in order to try to grow […]
GBP/JPY keeps pushing lower towards the 70.7% corrective target seen at 135.94. We are looking for a low at this corrective target and the completion of the corrective decline in the wave 2 for a new impulsive rally in the wave 3 above 148.87. The first solid evidence that wave 2 has completed is seen […]
