Today is a weekend in the USA and the UK, which means that the two largest trading floors in the world will be closed, which will undoubtedly have a strong influence on the situation on global trading floors. Therefore, we do not expect any major movements in the financial markets. But let’s look at the […]
EURUSD is flirting with the 40-day simple moving average (SMA) today, after the aggressive rebound on the two-year low of 1.1106, achieved last Thursday. Currently, the pair has been developing within a narrow range of 1.1110 – 1.1260 as it failed several times to break from these obstacles. The technical structure suggests further upside movement […]
Technical outlook: The EURUSD is expected to face resistance off the fibonacci 0.618 of the resent downswing between 1.1260 through 1.1107 levels as presented here. Furthermore, the trend line resistance is also seen to be passing through 1.1210/15 zone at this moment, which should act as a potential bearish reversal. Immediate price resistance is strong […]
The current growth of the pair will be corrective until the main resistance zone of the WCZ 1/2 1.0112-1.0103 is broken. The current range of the daily average movement coincides with the WCZ 1/4 1.0059-1.0055, which makes them an important resistance. The test of the specified zone will allow to get favorable prices for the […]
Crypto Industry News: The Russian state holding conglomerate, Rostec, has proposed an action plan on the use of Blockchain in all government data systems, as reported by the local financial newspaper Kommersant. According to reports, the institution subject to Rostec has developed a Blockchain action plan worth up to $ 1.3 billion, which will allegedly […]
Crypto Industry News: According to media reports, the social media giant Facebook interviewed major US cryptographic exchanges regarding the issue of its own cryptocurrency. Referring to two people familiar with the project “Globalcoin” on Facebook, the media write that Facebook discussed the initiative with the leading cryptographic exchange and Coinbase wallet. It was also noted […]
Technical Market Overview: The GBP/USD pair has bounced from the level of 1.2605 due to the extremely oversold market conditions and is now back in the channel. The nearest technical resistance is seen at the level of 1.2755, but the momentum is barely positive so the bounce might extend higher towards the old Pin Bar […]
EUR / USD Last Friday, the euro increased by 24 points in anticipation of the results of elections to the European Parliament and the decline in the volume of orders for durable goods in the US, which in April estimate showed a decrease of -2.1% against the forecast of -2.0% and growth of 2.6% in […]
Technical Market Overview: Despite the new local low at the level of 1.1108, the EUR/USD pair managed to bounce significantly and the huge Pin Bar candle has been made. This move up has broken above the technical resistance at the level of 1.1167 – 1.1176 and moved higher towards the dynamic trendline resistance. The trendline […]
GBP / USD Theresa May announced her resignation on Friday. In the UK, the process of choosing a new Prime Minister is starting. The first stage of which will be the selection of the leader of the conservative party. The undisputed leader for the post of prime minister is the former foreign minister and Eurosceptic […]
USD / JPY Since the first day of May, the yen cannot consolidate above the 110.85 price level in order to have support for further growth. In the past three days, the pair collapsed under the support of the nested line of the price channel. But today, it is trying to step above it in […]
After an impressive 4 hour reversal candle pattern yesterday, EURUSD is now moving higher confirming our bullish expectations as we noted in our last analysis. We singled out the long bullish candlestick yesterday and we said that this was a reversal pattern. A follow through would be bullish for EURUSD. Red line – resistance trend […]
Gold price is trading near its weekly highs after challenging important support at the start of the week. Price initially broke below important support trend lines but the week is ending on a more bullish note than when it started. Price is approaching major resistance area of $1,290-$1,300 again. Black line- resistance trend line Green […]
BTC has been trading upwards. The price tested the level of $8.100. Anyway, it looks risky for buying since the key resistance line at the price of $8.233 is there. Yellow rectangle – swing high resistance Red horizontal line – swing low support White lines – Upward channel BTC is trading inside of the upward […]
On January 10th, the market initiated the depicted bearish channel around 1.1570. Since then, 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 […]
Gold has been trading sideways at the price of $1.283.85. From our view, Gold did only consolidation before potential new wave up. Red horizontal line – swing high resistance Orange rectangle- Resistance 2 White lines – bullish flag boundiries Broken bull flag on the 1H time-frame, watch for potential buying opportunities. We found that after […]
GBP has been trading upwards. The price tested the level of 1.2117. Anyway, I found potential fake breakout of yesterday’s high at 1.2684, which is sign that buying at this stage looks risky. Red horizontal line – swing low support Red horizontal line 2- Swing low support 2 White lines – Bolinger bands GBp/USD did […]
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 […]
Brilliant campaigns of “bears” on EUR/USD ended in failure. The first sign of their weakness was their inability to anchor below the support level of $1.13. And it all started so well. Why the euro bounced up while the dollar was thrown off its pedestal. After all, in economic terms, the positions of currencies are […]
Perhaps all the attention of traders today was focused on the news that British Prime Minister Theresa May announced her resignation. This decision was quite predictable, which did not lead to a significant change in the market situation, except for a small profit taking on the British pound in the area of large support levels. […]
To open long positions on GBP/USD, you need: Today’s news that British Prime Minister Theresa May will resign on June 7, passed for the market without a trace, as it was quite expected. Buyers of the pound in the second half of the day need to stay above the support of 1.2662, and the formation […]
To open long positions on EURUSD, you need: The goal of updating the resistance of 1.1206 was completed at the first half of the day, and as long as the trade is conducted above the new support level of 1.1178, the demand for the euro will continue. The main task of the bulls in the […]
In the past two weeks, the financial world has been thinking about the raging trade conflict between United States and China. This is after talks between the two countries ended, without any major outcome. In the aftermath, United States announced fresh $200 billion tariffs on Chinese goods while China imposed tariffs of more than $600 […]
This week, crude oil has been among the worst-performing assets in the world. The West Texas Intermediate (WTI) declined by more than 9% while Brent declined by almost 8%. This was the sharpest drop this year. There are two key reasons for this price action. First, traders are worried about the ongoing tussles on trade. […]
This was a pivotal week for the markets as stock markets around the world declined sharply. At the same time, the yield on the US treasuries declined to their lowest level this year while crude oil had the sharpest decline. Some of the winners were the safe haven assets like the USD, yen, and gold. […]
EURAUD recorded decent gains in the past month, crossing above its 50- and 200-day simple moving averages (SMAs) to touch 1.6260, a high last seen in January. The short-term picture thus seems positive, though for the medium-term outlook to turn positive too, a break above 1.6350 is required. Short-term momentum indicators, however, suggest the rally […]
When there is too much negativity on the market, it can sadly end for bears. The sellers increased the EUR/USD quotes to the base of the 11th figure amid worsening European business activity and concerns of the ECB about a long period of slowing down of the eurozone economy. But, it did not take into […]
EUR / USD pair Trading the EUR/USD pair ended on Thursday, May 23, with an increase of 30 basis points, which somewhat confused the cards at the hands of traders. The wave pattern implied a further fall in the euro but now an alternative scenario is emerging, which implies the completion of the construction of […]
Yesterday’s collapse in crude oil prices, along with the fall of stock indices in Europe and the possibility of further negatively affect investor sentiment amid the protracted trade conflict between China and the United States may further, which ultimately will have an impact or rather already reflected in the real dynamics of the world economy, […]
Overview: Pivot point: 1.1166. The EUR/USD pair continues to move downwards from the level of 1.1192. Last week, the pair dropped from the level of 1.1192 to the bottom around 1.1111. Today, the first resistance level is seen at 1.1192 followed by 1.1216, while daily support 1 is seen at 1.1111. According to the previous […]
