Entry : 1.0123 Why it’s good : Horizontal overlap resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension Stop Loss : 1.0158 Why it’s good : horizontal overlap resistance, 61.8% Fibonacci retracement Take Profit : 1.0008 Why it’s good : 61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap support The material has been provided by InstaForex Company […]
Price is approaching resistance area at 0.6963 where it could potentially reverse to its support at 0.6903. Entry : 0.6963 Why it’s good : horizontal pullback resistance, 100% Fibonacci extension, 50% Fibonacci retracement Stop Loss : 0.7021 Why it’s good : horizontal swing high resistance Take Profit : 0.6903 Why it’s good : 61.8% Fibonacci […]
USDJPY near key resistance, a drop to first support is possible Entry: 110.32 Why it’s good : 100% Fibonacci extension, 38.2% & 61.8% Fibonacci retracement, horizontal swing high resistance Stop Loss : 111.051 Why it’s good :61.8% Fibonacci retracement,horizontal overlap resistance Take Profit : 109.05 Why it’s good: 100% Fibonacci extension, horizontal swing low support […]
Last week was much more successful for the dollar than the previous one, especially if you look at the single European currency, which seems to have tried to strengthen its position, but again started to weaken. Frankly, the reasons for dollar’s success is largely due to the fact that the UK has once again remembered […]
The British pound opened the week with a downside and remains one of the main outsiders of the foreign exchange market. Last week, the GBP/USD pair’s loss exceeded 250 points. It is expected that in the coming session the pressure on the sterling will continue. However, on Monday during European trading, the British currency managed […]
The White House believes that you can sacrifice your ideas about the benefits of a weak dollar for the country’s economy in favor of the revision of the terms of trade with Beijing. According to the presidential administration, China will sooner or later agree to a deal, since it is not in its interest to […]
Despite the fact that trade tensions in the world are increasing, and the global economy is on the verge of a recession, gold remains under pressure. Apparently, market participants still prefer other defensive assets, like the yen and the US dollar, which reduces the potential for the yellow precious metal to recover its value. Many […]
At the beginning of last week, the dollar-yen pair reached a 5-month low, recording 109.05. But then the price bounced off from the bottom of the price and returned to the 110th figure. Today, USD/JPY bears made another attempt to decline, dropping to the target of 109.80. Such fluctuations were a result of, above all, […]
4-hour timeframe The amplitude of the last 5 days (high-low): 100p – 69p – 97p – 64p – 86p. Average amplitude for the last 5 days: 83p (77p). More than a day has passed since Theresa May’s statement that she is preparing a new “bold” proposal for the Brexit deal to Parliament, but no new […]
4-hour timeframe The amplitude of the last 5 days (high-low): 42p – 43p – 47p – 58p – 29p. Average amplitude for the last 5 days: 44p (46p). As is often the case on Mondays, especially when there are no planned macroeconomic reports in countries whose currencies converge in one pair, volatility has dropped to […]
Bitcoin has been trading upwards in past 24h but the BTC hit overbought condition. Watch for selling opportunities. According to the H4 time-frame, we found that there is the buying climax in the background followed by the up-thrust (reversal bar), which is sign that buying at this stage looks risky. Also, key swing high at […]
EURUSD remains in a bearish medium-term trend but shows signs of a possible bounce back towards 1.12. Trend remains bearish as long as price is below 1.1230-1.1260 but we find horizontal support from previous lows at the current trading area of 1.1150-1.1160. Red rectangle – horizontal support area Red line – major trend line resistance […]
Gold price has made a deep pull back from $1,302 just right on top of the major support level of $1,276 we have been talking about over the last few weeks. Gold price has stopped its decline and this gives hopes to bulls. Green line – major trend line support Blue neckline – short-term support […]
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 […]
EUR/USD has been trading downwards as we expected. Anyway, we expect potential rally on the EUR. According to the H1 time-frame, we found that there is the breakout of the downward supply trendline, which is sign of the potential rally. We also found a rejection of the 20EMA at 1.1161, which is signal of the […]
Gold has been trading downwards as we expected. The price tested the level of $1.273. We still expecting more downside but we expect rally first. According to the 30M time-frame, we found that there is the breakout of the downward channel and successful re-test, which is sign of the potential rally. We also found a […]
The euro remains in the channel in the absence of important fundamental statistics and before the start of the elections to the European Parliament, which further discourage potential investors and traders. The report on the reduction of the eurozone current account surplus did not allow the bulls to return to the market and begin the […]
To open long positions on GBP/USD, you need: Buyers made a false breakdown in the morning support area of 1.2723, but did not even manage to get to the resistance of 1.2766, near which the entire upward correction could have ended. In the case of a breakdown of the minimum of 1.2723 in the second […]
To open long positions on EURUSD, you need: The situation has not changed in comparison with the morning forecast. It is best to return to long positions after updating a large support level at 1.1138, from where you can expect an upward correction to return to a maximum of 1.1180, above which you can reach […]
On March 29, the price levels of 1.2980 (the lower limit of the newly-established bearish movement channel) demonstrated significant bullish rejection. This brought the GBPUSD pair again towards the price zone of (1.3160-1.3180) where the upper limit of the depicted bearish channel was located. Since then, Short-term outlook has turned into bearish with intermediate-term bearish […]
Overview: 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 support level is seen […]
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 […]
The elections to the European Parliament, the release of data on business activity in Germany, the Eurozone for May and the publication of the minutes of the April meeting of the ECB make the euro the main contender for the role of the most interesting currency of the week by May 24. Despite the unfavorable […]
According to the results of the previous week, the dollar index showed maximum growth since the beginning of March. The tension in trade relations between Washington and Beijing remains in the focus of investors’ attention. Although trade war harms both the US and the rest of the world, there is no doubt that the US […]
Japan is the third-biggest economy in the world with a GDP of almost $5 trillion. The country is behind the United States and China, which have a combined GDP of almost $40 trillion. This week, investors will focus on the Japanese economy as they receive important data. Today, the country released the GDP data for […]
This will be an important week for the markets as investors received important data. This article will highlight some of the most important data and news for the week. Crude Oil Today, there will be the OPEC and non-OPEC Joint Ministerial Monitoring Committee in Saudi Arabia. The goal of this meeting will be to discuss […]
Today, the price of crude oil rose sharply after a combination of factors over the weekend. On Friday, Baker Hughes released the US rig count data. The number showed that the number of rig counts declined to 802 from the previous 805. The number of rigs does not necessarily affect the amount of crude oil […]
The US 30 index is trading below the six-month high of 26,712, struggling within the Ichimoku cloud and the between the 50- and 200-simple moving averages (SMAs). The index is on the back foot and the technical indicators suggest that the market could ease a little bit in the short-term; the MACD is flattening in the negative zone, […]
GBPCAD plunged below the 50.0% Fibonacci retracement level of the upleg from 1.6590 to 1.7795 and the 200-day moving average. Currently, the price is developing beneath the Ichimoku cloud, while the 20- and 40-simple moving averages (SMAs) are turning lower. The RSI indicator is flattening just above 30 oversold level while the MACD is strengthening its […]
The big picture: The market is waiting for momentum. On Wednesday there will be “minutes” from the last Fed meeting. There is no important news. On Wednesday, there will be “minutes” from the last Fed meeting. In addition, there is a halt to the US-China trade negotiations but it is unlikely to play strongly until […]
