Price is testing its 1st support where we have a slight bias that it still has more downside potential. If it breaks past its 1st support, we expect a further move down to its 2nd support. Entry : 0.6900 Why it’s good : 50% Fibonacci retracement, 100% Fibonacci extension, horizontal swing low support Stop Loss […]
Forecast for May 31: Analytical review of H1-scale currency pairs: For the euro / dollar pair, the key levels on the H1 scale are: 1.1171, 1.1157, 1.1146, 1.1123, 1.1115, 1.1099, 1.1080 and 1.1067. Here, we continue to follow the development of the downward structure of May 27. Continuation of the movement to the bottom is […]
Anti-risk sentiment is growing in the foreign exchange market, reflecting the increasing geopolitical tensions in the world. China and the United States entered the trade clinch. The likelihood of a “tough” Brexit is also growing every day, and this week, there is information about the upcoming sanctions against Britain, Germany and France from the United […]
The results of the elections to the European Parliament were quite unexpected, at least in several aspects. First, the popularity of right-wing political forces in the EU countries has been greatly exaggerated – populists still remain on the margins of the political life of Europe. But the “traditional” European parties also lost their points: for […]
EURUSD has broken below 1.1150 and is challenging the 2019 lows at 1.11 area. Trend remains bearish in short- and medium-term. Price is heading towards 1.10 as long as price remains below 1.12. Red lines – bearish channel Black line – horizontal support EURUSD remains in a bearish trend. Price is still trading inside the […]
Gold price has broken above the short-term resistance level of $1,288 and bulls should now expect at least a move towards the major resistance area of $1,294-$1,300. Breaking above this major resistance will have implications for the medium-term trend which remains bearish after topping back in February. Red rectangle – short-term resistance (broken) Blue rectangle […]
Bitcoin did nice flash up and reject from strong resistance of $8.910. The rejection of the round number $9.00 is a good sign that aggressive sellers entered the market. White horizontal line – Major resistance Red horizontal line 1- Support 1 Red horizontal line 2 – Support 2 BTC did successful test and reject of […]
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 […]
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 […]
EUR/USD price has been trading downwards. The price did test and reject from the yesterday’s low at 1.1124. EUR is trading near the important support at 1.1108 and you should watch for buying opportunities. White rectangle – Support Red horizontal line 1- Resistance 1 Red horizontal line 2 – Resistance 2 EUR/USD did successful test […]
The Bank of Canada reiterated at its policy meeting on Wednesday that the economy will likely pick up growth in the second quarter of 2019. Market specialists, however, predict that GDP growth data could show early signs of recovery on Friday at 1230 GMT despite the global trade risks. After recording the smallest expansion […]
The United States and China continue to exchange “courtesies.” On Thursday, Beijing once again added fuel to the fire, comparing Washington’s position with “economic terrorism.” Meanwhile, the date of the next Fed meeting is approaching, and the regulator is in an extremely difficult situation due to the escalation of the trade war, which runs the […]
Gold price has been trading downwards. The price did hit our down target from yesterday at $1.275 and did flip up, which is sign of the reversal. Gold is very strong today and you should watch for buying on the dips. Red horizontal line – Resistance 1 Red horizontal line 2- Resistance 2 White line […]
As soon as the elections to the European Parliament were over, the struggle for the highest posts of the European leadership began. It is assumed that the main opposition will unfold between Germany and France, which seek to occupy a leading position in the block. The fate of the euro will depend on who will […]
Overview: The pivot point: 1.3457. The USD/CAD pair continues to move upwards from the level of 1.3457. The pair rose from the level of 1.3457 (the level of 1.3457 coincides with a ratio of 61.8% Fibonacci retracement) to a top around 1.3505. But it rebounded from the top pf 1.3505 to 1.3477. Today, the first […]
EURCAD has been moving in a symmetrical triangle over the last seven months following the soft rebound on the 1.4750 support level. In the short-term, the market could maintain consolidation if the RSI keeps moving around 50 and the MACD near its zero line. Regarding the trend, this is likely to remain flat in the near-term as the […]
USDTRY is aggressively diving to a fresh one-month low today, below the 38.2% Fibonacci retracement level of the downfall from 7.1135 to 5.1330 around 5.8855. Looking at the technical indicators, the RSI is slipping below the 50 level, suggesting a downward correction in the daily chart, while the MACD is still falling below the trigger line. […]
On Thursday, May 30, oil quotes begin to recover after a significant decline the day before. The collapse in oil prices was triggered by information about a possible reduction in the supply of rare earth metals in the US from China. The escalation of the trade war between both countries continues to grow and this […]
Investors are waiting for US GDP data. We assume that growth movement will be possible to continue in the range of the EUR/USD and AUD/USD pairs. Today, the market will focus on the publication of US GDP data for the first quarter. It is assumed that it will decline in growth to 3.1% from 3.2% […]
The trade war between the US and China is beginning to take on a rather unexpected development. If until recently the United States was perceived as a stronger side of the conflict, which was reflected among other things in the growth of the dollar, now the situation begins to look a little different. On May […]
For the last trading day, the pound / dollar currency pair again showed low volatility with 58 points. The movement was enough to reach the predicted value. From the point of view of technical analysis, we see a coincidence of the previously set forecast, the downward inertial course remained on the market, bringing us closer […]
The main topic for the market gradually became the issue of trade wars. The US-China trade war remains in force, but the negotiations have virtually stopped. In addition, the largest business media write about the possible resumption of the US-EU trade war. There is no progress on tariffs for cars and other controversial issues. The […]
The US dollar index is edging higher towards the two-year high of 98.25 over the last three consecutive days, remaining well above the long-term ascending trend line and the moving averages. The short-term bias is tilted to the upside as the RSI indicator is turning marginally higher in the positive region, while the trigger line of the MACD oscillator […]
Never underestimate the power of inertia. It was this lesson that was presented yesterday against the background of complete silence from both politicians and macroeconomic statistics while the dollar continued rising. Understanding that the unpredictable consequences of an unregulated Brexit do not promise anything good continues to play into the hands of dead American presidents […]
On Wednesday, the market in both currencies was moving down. The pair GBP / USD, while moving down, could not reach the lower fractal of 1.2605. The EUR / USD pair, while moving down, tested the pullback level of 76.4% – 1.1134 (yellow dotted line). However, it did not go lower. On Thursday, strong calendar […]
NZDUSD has jumped into the Ichimoku cloud over the last few sessions as it found strong support around the 0.6505 barrier. The price touched the 40-simple moving average (SMA) in the 4-hour chart, and returned lower again, while the RSI indicator is also pointing down in the negative region. What remains to be seen is […]
Dollar remains king as major peers continue to lack appeal Stocks calm down after drop, but perhaps only temporarily BoC stands pat, loonie drops as officials keep a lid on optimism Dollar reigns over FX market, nears 2-year highs The world’s reserve currency remains the undisputed king of the FX market, as investors continue to […]
GBPJPY is in red for the fourth consecutive week, with the price pausing the sell-off at the 4 ½-month low of 137.85 on Wednesday. According to the RSI and the Stochastics, the pair is trading in oversold area and upside corrections are possible in the short term as the former hovers below 50 and the latter under 20. The bullish […]
USDJPY is struggling to recover last week’s losses which drove the pair back into the 109 area but the positive slope of the RSI and the rebound in the Stochastics provide some optimism that the bears could stay on the sidelines in the short-term trading. The trend signals, however, are still negative as the pair has violated […]
USDJPY is struggling to recover last week’s losses which drove the pair back into the 109 area but the positive slope of the RSI and the rebound in the Stochastics provide some optimism that the bears could stay on the sidelines in the short-term trading. The trend signals, however, are still negative as the pair has violated […]
