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 […]
By the end of the last trading week, the euro / dollar currency pair showedan extremely low volatility of 29 points, but this was enough to keep the downward interest. From the point of view of technical analysis, we have the preservation of short positions, where the previously passed level of 1.1180 served as a […]
Trade negotiations between the United States and China are suspended after it became clear that the basis for a mutual search for compromises was not formed, and moreover, there is an escalation of tension. China was ready to continue negotiations but after the US imposed restrictions on Huawei, it became obvious that the period of […]
By the end of the last trading week, the pound / dollar currency pair showed volatility just slightly below the daily average of 86 points, but at the same time, we see that the bearish interest is firmly entrenched in the market. From the point of view of technical analysis, we see a steady downward […]
On Friday, the market in both currencies continued its downward movement. However, if the GBP / USD pair moved down, relying on fundamental analysis, the EUR / USD pair will be in the standby mode, and the traders will not decide where to go further, and what to break through – the support or resistance […]
EUR / USD On Friday, May 17, trading ended for EUR / USD with a decline of 20 bp, which is still fully consistent with the current wave counting, which suggests the construction of a downward wave 3, 3, 3 with targets under 11 figure. The report on inflation in the European Union on Friday […]
To open long positions on GBP/USD you need: Theresa May’s final failure in negotiations with Labour on the topic of Brexit returned the likelihood of a hard Brexit that continues to put pressure on the British pound. At present, it is best to return to long positions on a false breakdown in the support area […]
USDCHF rebounded on the 1.0050 support level in the preceding week, jumping above the 23.6% Fibonacci retracement level of the upward movement from 0.9540 to 1.0235, around 1.0070. The RSI has come off from negative levels and the stochastic oscillator posted a bullish cross within its %K and %D lines in the oversold zone, pointing to […]
To open long positions on EURUSD you need: The pair’s situation is uncertain. 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 high of 1.1180, above which you can reach the resistance of 1.1205, where I […]
For this week, the market will pay attention to the publication of the minutes of the May meeting of the Fed and the ECB on monetary policy, to the speeches of the heads of the US Federal Reserve Bank and its head J. Powell, as well as the ECB President M. Draghi. Market participants are […]
Technical outlook: The EURUSD has dropped lower as discussed. The pair is now trading around 1.1155 levels. We are presenting a contrarian view today, as depicted on chart here. The pair could be carving out a complex correction since 1.1260 highs earlier and the current bottom could form close to 1.1140 levels respectively. Interim support […]
Gold made another lower high last week after finding resistance at 1,303. The market action is currently taking place at the bottom of the symmetrical triangle and both the RSI and the MACD signal that the next move in the price is more likely to be on the downside as the former is negatively sloped below its 50 neutral mark and the latter […]
Sterling crumbles as no-deal Brexit risk returns Aussie gets a lift from politics, but outlook still grim Dollar continues to reign supreme as other currencies lack appeal Pound dives as May’s grasp on power weakens Sterling took yet another hit on Friday, with Cable falling to its lowest level since January as the British political […]
Bitcoin managed to regain the bullish momentum after a sharp dip below $8000 area earlier. The price is currently residing at the edge of $8000 area with a dynamic level of 20 EMA holding the price as support. Thus, further upward pressure might occur in the coming days. Bitcoin is currently up by 8%. Most […]
Technical analysis of Ethereum for 20.05.2019 The wave 4 cycle is still in progress. Crypto Industry News: The largest Russian bank, Sberbank, demanded from customers to provide information about their revenues from cryptocurrencies, according to the financial media. Co-founder of the cryptocurrency trading platform Toxenbox.io, Vladimir Smerkis, told media that a client had received a […]
Crypto Industry News: Judge Joel Cohen of the Supreme Court in New York approved the request of the Bitfinex cryptocurrency exchange to change the order of the New York Attorney General. As announced, the court order will allow the Bitfinex stock exchange and the related stable coin Tether operator to continue its normal operations. The […]
In the months to follow, XM will continue the long series of forex seminars throughout Thailand to accommodate the needs and interest of retails traders eager to acquire in-depth knowledge about online trading practices. The next upcoming seminar locations that our team members, along with professional instructor and event presenter Sompop Jittrakul, will reach on […]
Since its deep fall towards a two-week low in early May, EURUSD slipped beneath the 20- and 40-simple moving averages (SMAs) in the daily timeframe, remaining in a descending channel of its drop from 1.1570. The technical picture supports that the 1.1260 resistance is likely to continue to hold in the short-term. Looking at momentum indicators, the […]
Despite the abundance of macroeconomic reports and planned speeches by representatives of the ECB and the Fed, the euro-dollar pair will focus on political fundamental factors this week. The focus will be on Italy, China and the European Parliament elections. Factors such as the intentions of Italian politicians, the prospects for the US-China trade negotiations […]
AUD / USD pair On Thursday and Friday last week, the Australian dollar was actively declining, but did not reach the support of the embedded line of the price channel and opened a new week from an increasing gap of 46 points this morning. Thus, convergence with the marlin oscillator was formed on the four-hour […]
Today, Bitcoin is trading at the upper limit of the flat. If this zone is broken, and the close of the trading will occur above the level of 8085.79, then further growth will become a priority again. It is important to understand that the upward impulse is a strong medium-term structure. Working towards an increase […]
GOLD has lost ground against USD recently. Hence, the price resided at the edge of 1276 support area with an impulsive bearish pressure. GOLD hit two-week lows on Friday as the US dollar surged up following the release of the data that showed US consumer sentiment was at a 15-year high. The US dollar was […]
Technical Market Overview: The GBP/USD pair continues to move lower after the technical support at the level of 1.2772 was violated. The new local low was made at the level of 1.2709, just above the technical support at the level of 1.2705. Despite the oversold market conditins, there is no sign of any trend reversal […]
Technical Market Overview: The EUR/USD pair has broken below the technical support located between the levels of 1.1167 – 1.1173 and made a new local low at the level of 1.1153. Despite the oversold market conditions, the bears are pushing the price lower towards the next technical support located at the level of 1.1111. The […]
GBP/JPY dipped to a low of 139.53 and tested the 50% corrective target. We are looking for confirmation that the wave 2 has completed with the test of 139.53 and a new rally higher. A breakout above resistance at 140.69 will be a strong indication that the wave 3 higher to 151.50 is developing. Short-term […]
Today’s growth in the Asian session indicates the absence of a large cluster of limit orders above the a WCZ of 109.98-109.89. The probability of further growth is 70% with the first goal at the weekly CZ of 110.94-110.77. It is important to understand that purchases from current rate will be less profitable than those […]
EUR/JPY is currently testing important resistance near 123.25 and a clear break above this resistance will confirm that the wave ii has completed with the test of 122.06 and a new impulsive rally higher to 129.35 is developing. That said, we also need to recognize that the downtrend from 126.83 remains intact as long as […]
Morning Report: 07.00 London This morning, markets have started the week with positive intent, with demand for safe havens diminishing. The US dollar index has gapped lower at the open, while the Japanese yen continues to back off. The USD/JPY in particular has gapped higher, as the pair puts more distance away from last week’s […]
GBP/USD On Friday, the pound sterling fell by 80 points, moving away from the support of the embedded line of the price channel, which has now become a resistance. The signal line of the marlin oscillator on the daily and four-hour charts slightly bent up, but the opening of Monday occurred with an increasing gap, […]
EUR/USD Last Friday, the euro continued to fall on expectations of an increase in opposition forces in the European Parliament after the elections of May 23-26. The price reached the first target of 1.1155 – the Fibonacci level 110.0%, and this morning it already overcame it with the intention to reach the second target of […]
