As the US dollar heads for fresh two-year highs, next week’s nonfarm payrolls report could be key in deciding whether the dollar’s persistent strength will hold out for much longer. The Australian dollar will also be under the spotlight as the country’s central bank could make its first rate cut in three years. The European […]
News on US GDP for the first quarter (second reading) is expected. The GDP growth decreased to 3.1% from 3.2% and deflator reduced from + 0.9% to 0.8. The Fed made it clear that the Fed should not expect an increase in interest rates. It should be noted that the yield of treasuries decreased to […]
EUR / USD On May 30, Thursday, trading ended with a loss of just a few basis points for the EUR / USD currency pair. Thus, the wave marking has not changed over the previous day. In general, it is also worth noting that the market activity for the euro / dollar pair is now […]
The next key releases for the dollar will be the ISM manufacturing and non-manufacturing PMIs for May, due on Monday and Wednesday respectively, both at 14:00 GMT. Forecasts point to a rebound in both figures, but considering the escalation in trade conflicts, those seem overoptimistic. Disappointing numbers may hurt the dollar a little, but for […]
Tension in global markets continues to increase. Events such as the escalation of the trade crisis between America and China, the growth of tension with Europe and the announcement of the introduction of 5% duties on all Mexican imports from June 10, with the prospect of raising them in the coming months to 25% indicates […]
USDMXN skyrocketed to a fresh four-month high of 19.7071, penetrating the consolidation area of 18.7440 – 19.7071 to the upside and switching the short-term picture from neutral to positive. The technical indicators are feeding prospects for a positive short-term trading; the RSI is entering overbought territory, while the stochastic trends around the 80 level. Also, in […]
GBPAUD has been in a congestion zone since mid-February, in what has started to look like a double top formation. The price, however, needs to break below the neckline positioned around 1.8095 to confirm the bearish pattern but with Stochastics warning over an oversold market, such a move may come with a delay. The 200-day simple moving average (SMA) […]
Risk aversion engulfs markets after US unleashes more trade havoc Dollar holds its ground even as Fed easing bets grow further US PCE inflation, German preliminary CPIs, and Canadian GDP due today Yen soars, loonie & peso crumble as Trump fires another tariff salvo Following a relatively calm session yesterday, risk aversion returned with a […]
On Wednesday, the market in both currencies was moving down. The GBP / USD pair, while moving down, reached the lower fractal of 1.2605 (red dotted line), but closed above this level. The EUR / USD pair, while moving down, tested the pullback level of 76.4% – 1.1134 (yellow dotted line) and closed slightly lower. […]
USDCAD is trading not too far from Wednesday’s new four-month high of 1.3550, following the rebound on the long-term ascending trend line in the daily timeframe. The momentum indicators suggest that there is still some advance for the pair. The RSI indicator is sloping upwards in the positive territory, while the MACD surpassed the trigger […]
USD / JPY pair Today’s morning, China has received weak economic data. The index of business activity in the manufacturing sector from 50.1 to 49.4 in May. the indicator of business activity in the non-manufacturing sector remained at the same 54.3 points. Amid aggravating relations between the United States and China, the data was perceived […]
Crypto Industry News: According to an official statement, the British government’s jurisdiction team began a public consultation to establish the status of cryptographic assets under English private law. In the document, the UK Jurisdiction Task Force (UKJT) found that the existing legal uncertainty regarding the crypto industry was the main reason for the lack investor […]
Since January 10, 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. This enhanced further bullish advancement towards 1.1300-1.1315 (supply zone) where significant bearish rejection was demonstrated on April 15. For Intraday traders, the price zone […]
Crypto Industry News: Germany is planning to introduce draft legislation authorizing Blockchain bonds this summer, the local business newspaper reported. Referring to Thomas Heilmann, Blockchain’s dedicated coalition correspondent, the publication revealed that the new legislation has already gained momentum, considering the existence of a summary document. According to Heilmann, it is both necessary and beneficial […]
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 […]
Morning Report: 07.00 London Havens are in demand this morning as risk taking takes a back seat on global trade fears. The yen is the biggest winner, with the USD/JPY hitting its lowest level since the start of February. Other yen pairs are extending their recent sorry runs, with the GBP/JPY dropping further below 138.00. […]
The United States and European Union are two of the closest allies in the world. The two regions cooperate on so many fronts on the world stage. This changed when Donald Trump became president of the United States. For decades, he had accused the region of being anti-United States. He also believes that the reason […]
Canada is a North American country of more than 37 million people and a GDP of more than $1.65 trillion. The biggest sectors of Canada GDP are in the real estate, manufacturing, mining, oil and gas and healthcare services. In the past few months, the country’s growth has been relatively sluggish. The GDP growth has […]
After experiencing a major rally in 2017, the price of Bitcoin dropped sharply in 2018. This happened as the industry continued to experience a streak of negative headlines. It also happened as the previous buyers exited their trades with a good profit. This year, the tables have turned, and the price of Bitcoin has been […]
Technical Market Overview: The EUR/USD pair is getting ready to test the key technical support at the level of 1.1108 and the result might be severe if the bears will break through this level. The momentum is still weak and negative, but so are the market conditions (extremely oversold). Despite these conditions, the price might […]
Technical Market Overview: The GBP/USD pair has made another lower low at the level of 1.2580 as the downtrend continues. The larger timeframe trend remains down, but there is the first sign of a possible trend reversal which is a Hammer candlestick pattern made at the recent low. In order to bounce or reverse the […]
Bitcoin has managed to reach $9000 price area quite quickly recently but then failed to keep up the momentum. Thus, it fell drastically towards $8000 area within few hours from the peak touch. Bitcoin incurred a sudden influx of buying pressure earlier today that allowed it to surge past $9,000, which immediately led many investors […]
EUR/USD On Thursday, the euro fell by only 2 points. US GDP for the 1st quarter in the 2nd assessment, as expected, was revised down from 3.2% to 3.1%, but investors repeated the events, as during the publication of the first assessment, that is, ignored the data. Investors are probably waiting for more recent data […]
GBP/USD The pound is slowly declining to the nearest target of 1.2530 – the minimum on December 14. After overcoming the first goal, the second one opens – 1.2388, which is the support of the embedded line of the price channel of the weekly timeframe. Significant events for the British pound did not happen yesterday. […]
When the European market opens, some economic data will be released such as Italian Prelim CPI m/m, German Prelim CPI m/m, and German Retail Sales m/m. The US will also publish the economic data such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Chicago PMI, Personal Income m/m, Personal Spending m/m, and Core PCE […]
In Asia, Japan will release the Housing Starts y/y, Consumer Confidence, Retail Sales y/y, Prelim Industrial Production m/m, Unemployment Rate, and Tokyo Core CPI y/y. The US will also publish some economic data such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Chicago PMI, Personal Income m/m, Personal Spending m/m, and Core PCE Price […]
Minuette ( h1 ) Great Britain pound vs US dollar ____________________ The development of the movement of the GBP / USD currency pair from May 31, 2019 will be determined by the direction of the range breakdown: -> resistance level 1.2635 (initial SSL line of the Micro operational scale forks ); -> support level 1.2615 […]
Minuette ( h1 ) Euro vs US Dollar ____________________ Range of Breakdown Direction : -> resistance level 1.1145 (starting line SSL for the Micro operational scale forks); -> support level of 1.1130 (starting line SSL is for Minuette operation scale forks); and will determine the development of the movement of the single European currency EUR […]
Price is approaching our first support level. Entry : 137.65 Why it’s good : Horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension Stop Loss : 136.29 Why it’s good : 100% Fibonacci extension Take Profit : 139.61 Why it’s good : 50% Fibonacci retracement, horizontal overlap resistance, 100% Fibonacci extension The material has […]
Price is approaching our first support level. Entry : 137.65 Why it’s good : Horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension Stop Loss : 136.29 Why it’s good : 100% Fibonacci extension Take Profit : 139.61 Why it’s good : 50% Fibonacci retracement, horizontal overlap resistance, 100% Fibonacci extension The material has […]
