Overview: 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 events, the EUR/USD […]
Of course, the dollar is clearly overbought and its weakening against the background of unexpectedly poor statistics on home sales in the secondary market, which decreased by 0.4% instead of growing by 2.7% should not be surprising. But not so much. Also, not for such a short time because almost immediately everything returned to where […]
Overview:The NZD/USD pair is showing signs of weakness following a breakout of the lowest level of 0.6571. On the H1 chart, the level of 0.6571 coincides with 38.2% of Fibonacci, which is expected to act as minor resistance today. Since the trend is below the 38.2% Fibonacci level, the market is still in a downtrend. […]
The US dollar continues to strengthen in relation to its main competitors, which are under pressure from political and economic factors. On Tuesday, the USD index hit the highest level since April 25. “Greenback is still ahead of most of its G10 competitors, as key countries face pressing economic and political problems, while the Fed […]
For the last trading day, the currency pair pound / dollar showed high volatility of 127 points, resulting in a wide amplitude, which, in principle, did not lead to anything solid. From the point of view of technical analysis, we see an amazing amplitude – high 1.2811 and low 1.2684, where, as a result, the […]
Tensions on world markets eased somewhat after the States temporarily relaxed restrictions on the Chinese company Huawei, although, of course, the final cessation of confrontation cannot be said yet. We have repeatedly pointed out earlier that in the past six months as the global financial markets have been experiencing a most difficult situation, which is […]
On Tuesday, the EURUSD rate made an attempt to grow – this was fuelled by the pound’s growth on reports of the possibility of a new referendum on Brexit. However, the sellers immediately stopped trying. It is very likely that we are waiting for an attempt to break through the support zone of 1.1110 – […]
EUR / USD On Tuesday, May 21, trading on the currency market for the EUR / USD pair ended with a decrease of several base points, although during the day market activity was not weak and the instrument made a good movement up and then down. However, in general, the wave pattern has not changed […]
On Tuesday, the market for both currencies moved in the side channels, and this is the merit of fundamental analysis. The pair GBP / USD has fulfilled the rollback upwards of 14.6% – 1.2756 (yellow dotted line) and then continued to move downwards. On the other hand, the EUR / USD tested the support line […]
EURJPY reversed lower after meeting a two-week high around 123.70 on Tuesday, flirting with the 23.6% Fibonacci retracement level of the downleg from 126.80 to 122.07, near 123.20. The technical picture supports that the slightly bearish move is likely to continue in the short-term. The RSI is stretching to the downside and the stochastic oscillator is edging lower in […]
Pound surrenders gains to trade lower after May unveils Brexit plan Fed minutes today may boost the dollar a little Stocks advance on Huawei relief, but risks still heightened Sterling not convinced by May’s ‘last Brexit push’ The British pound briefly spiked higher yesterday, before surrendering all its gains to trade even lower, after PM […]
To open long positions on GBP/USD you need: Yesterday, Theresa May announced that it was possible to hold a new referendum on Brexit, but on the condition that Parliament approves her agreement. This did not please the buyers of the pound, who quickly left the market. At present, it is best to return to long […]
The trade dispute between the United States and China does not yet show any signs of a possible completion in any foreseeable future. On Tuesday, stock markets reacted with a rise in response to the Trump administration’s intention to issue Huawei a temporary work permit until August 19, which is likely to be the deadline […]
Oil (CL) On the daily chart, the price consolidated below the MACD line (blue indicator). The Marlin oscillator signal line turns down without leaving the zone of a downward trend, which is the zone of negative numbers. Taking a new decline line as a continuation of the trend from April 23-24, the price may overcome […]
To open long positions on EURUSD you need: Volatility is very low, and, most likely, the pressure on the euro will continue. It is best to return to long positions after updating a large support level at 1.1143, provided that a false breakdown is formed there, or to rebound from a new low of 1.1112. […]
AUDUSD held losses over the last five days, dropping to a new four-month low of 0.6864 last Friday and penetrating the descending triangle formation to the downside. The RSI in the 4-hour chart continues to lack direction near the oversold area, while the red Tenkan-sen keeps flattening below the blue Kijun-sen line, reducing chances for a meaningful recovery in the short-term trading. The […]
The XM seminar road tour continues in the Philippines, reaching two further cities earlier this summer: Manila on 13th and Cagayan de Oro on 27th July. As always, it is a great pleasure to meet with our clients in person and offer them the best educational resources to help them improve their trading skills for […]
As the euro searches for a bottom, business survey data out of the Eurozone this week could help the single currency put a floor under its recent declines. The flash PMIs from IHS Markit for May will be released on Thursday at 08:00 GMT, along with Germany’s Ifo business sentiment gauge due at the same […]
EURO has bounced off on fresh economic reports. The single currency managed to gain momentum over JPY, but such bullish momentum is seen as part of retrace while the bearish trend is still quite strong. Recently, EURO German PPI report has been published. It indicated an increase to 0.5% from the previous figure of -0.1% […]
Crypto Industry News: Craig Wright filed a copyright registration in the United States for the Whitepaper of Bitcoin by Satoshi Nakamoto. Court documents show that the copyright office in the US received Wright’s registration as the author of the whitepaper, as well as most of the original code used to build Bitcoin. An Australian entrepreneur […]
Crypto Industry News: The Japanese House of Representatives has taken over the new cryptographic regulation in the upper house of the national parliament, according to the Nikkei news agency. The lower house reportedly cryptographically amended the existing financial law of the Chamber of Councilors at a recent plenary session. According to Nikkei, changes to two […]
Morning Report: 07.00 London The British pound came in for some heavy volatility yesterday on Theresa May’s pledge to hold a referendum, but with the kicker that this would only be if PMs vote for her deal in parliament. Market’s initial excitement was tempered by the reality that PMs are still unlikely to go for […]
Technical Market Overview: The GBP/USD pair has made another attempt to bounce from the extremely oversold market conditions, but the rally was quickly capped and the Fakey candlestick was made (also it looks like a Pin Bar) with a local high at the level of 1.2811. It means the bulls are still too weak to […]
Technical Market Overview: The EUR/USD market is still hovering around the technical resistance zone located between the levels of 1.1167 – 1.1174 with no intention of breaking higher so far. There were some attempts to rally but were quickly capped by the bears. The short-term outlook remains bearish and there is no signs or any […]
Technical outlook: The EUR/USD pair rallied through 1.1188 levels yesterday before pulling back lower again. Please note that immediate resistance at 1.1183 levels was taken out. The recent pullback is stalling around 1.1155 levels, indicating a potential rally ahead. It may still be too early to project an upside movement at this moment but considering […]
GBP/JPY is breaking above minor resistance at 140.51 indicating that the wave 2 has completed and the wave 3 higher is developing. In the short-term, minor support at 140.18 will be able to protect the downside for a firm breakout above minor resistance at 140.51 and, more importantly, a breakout above resistance at 141.74 for […]
EUR/USD On Tuesday, the euro was trading with a 46 pip range following the British pound on news of a possible re-referendum in the UK for Brexit. The news came at the same time with the publication of the worst data on home sales in the secondary real estate market in the US – the […]
GBP/USD Yesterday, the British pound was very widely traded, with a range of 130 points, due to Theresa May’s proposal to the Parliament to adopt the option with the second Brexit referendum in exchange for her version of the deal with the EU. But in the end, the pound closed the session with a black […]
AUD/USD As we expected in the last review of the aussie, the balance and MACD lines on the four-hour chart were an insurmountable resistance for the price. The price moved down from them and closed the gap that was formed at the opening of the week. At the moment, the price is below all indicator […]
Entry : 1.3372 Why it’s good : horizontal swing low support, 100% Fibonacci extension, 50% & 61.8% Fibonacci retracement Stop Loss : 1.3344 Why it’s good : 100% Fibonacci extension Take Profit : 1.3433 Why it’s good : 38.2% Fibonacci retracement, horizontal swing high resistance The material has been provided by InstaForex Company – www.instaforex.com […]
