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 as well as the backside of the depicted broken uptrend line demonstrated significant […]
Gold has been trading downwards in pat 24 hours. Anyway, there is still bullish view in the background. Further upward movement is possible. Gold did up break of the trading range in the background, which is good sign for further upward movement. Yesterday was the very wide range bar so the today’s pullback is normal […]
After a solid employment report, the next important release for the Canadian currency is the inflation figures on Wednesday at 1230 GMT. While forecasts are positive, the Bank of Canada (BoC), like most of its major counterparts, is not expected to change its neutral stance on interest rates, not before the domestic economic picture brightens […]
GBP/USD has been trading downwards as we expected yesterday. Anyway, there is potential for the rally in the next period so our advice is to watch for potential buying opportunities. We closed our short position from yesterday with the profit of 100 pips. The reason for our exit at 1.2908 is that we saw bullish […]
To open long positions on GBP/USD, you need: The divergence on the MACD indicator, which I paid attention to in the morning forecast, helped the buyers of the pound to stop the fall and form a small upward correction. While trading is above the support of 1.2930, we can expect the growth of GBP/USD in […]
To open long positions on EURUSD, you need: Inflation in Germany was quite predictable, so buyers of the euro have not been able to return above the level of 1.1251, which remains the task for the second half of the day. Only a breakthrough of this range will keep the upward momentum and will lead […]
After taking a beating from an escalation in US-China trade tensions, the Australian dollar will now look to the nation’s wage growth data for Q1, due at 00:30 GMT on Wednesday. The all-important employment stats for April will follow on Thursday at 01:30 GMT; they may prove crucial in determining whether the RBA will cut […]
China will publish the latest stats on industrial output, fixed-asset investment and retail sales on Wednesday at 2:00 GMT. The data will be watched to assess whether the rebound observed in March carried through to April amid worries the economy could lose momentum again as trade tensions flare up. With a trade deal hanging in […]
Rising oil prices continue to amaze market participants. On Monday, May 13, it rose by 3% but this is not the limit, analysts say. Experts are trying to figure out how dangerous the current rise in oil prices will follow if a sharp rise is no less deafening collapse. On Monday, Brent quotes reached $ […]
When a number of bullish news is already taken into account in prices and market attention shifts to the escalation of the US-Chinese trade war that threatens to undermine global oil demand, the growth of bearish prices by 39% for WTI in the week to May 7 looks logical. Speculators increased short-selling at the fastest […]
US President Donald Trump increased the pressure on China in order to achieve a new and more profitable trade agreement for his country. Moreover, he obviously does this in order to push the Chinese side to take active steps in the negotiation process. Trump obviously put everything in stake, hoping that the Chinese would “break […]
The main event for the dollar this week will be the US retail sales for April, due on Wednesday at 12:30 GMT. Amidst an escalating trade conflict, markets have fully priced in a Fed rate cut by December, yet the dollar has barely retreated. This highlights that the greenback is still the ‘only game in […]
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 […]
Overview: The AUD/USD pair is set above strong support at the levels of 0.7046 and 0.7168. This support has been rejected four times confirming the uptrend. The major support is seen at the level of 0.7046, because the trend is still showing strength above it. Accordingly, the pair is still in the uptrend in the […]
Wave counting analysis: On May 13, the GBP / USD pair lost about 50 basis points. However, this did not affect the clarification of the current wave marking. Moreover, the wave pattern is completely confusing. If you look at the part of the trend that takes its start on February 27, then it is obvious […]
Wave counting analysis: On Monday, May 13, trading ended for EUR / USD by 15 bp decline. However, during the day, the pair had an attempt to break through the previous supposed peak of wave 2. Thus, there is a growing chance that wave 2 will take on a clearly marked three-wave shape or the […]
Although the macroeconomic calendar was completely empty, market participants were not bored. As soon as it became known that China was introducing retaliatory duties on goods from the United States with a total of $60 billion, investors began to play against that same dollar. Fears were fueled by rumors that the Celestial Empire could stop […]
For the last trading day, the euro / dollar currency pair showed a relatively low volatility of 42 points, but still having an attempt to break the newly formed cluster. From the point of view of technical analysis, we had a move towards a local maximum on May 1, 1.1264, where the quotation felt a […]
Over the last trading day, the pound / dollar currency pair showed high volatility of 99 points, as a result of having a breakdown of stagnation and a pulse candle. From the point of view of technical analysis, we see that the holding level of 1.3000 fell and a pullback followed by stagnation served as […]
Trend analysis (Fig. 1). On Tuesday, technical analysis demonstrates an upward movement. The first upper target of 1.2997 is the pullback level of 24.6% (yellow dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis – up; – trend analysis […]
To open long positions on the GBP / USD pair, you need: Pound buyers, for stopping a downtrend, need to form a false breakdown in the support area of 1.2943 with confirmation of divergence on the MACD indicator. Only after that, it will be possible to count on a repeated upward correction in the area […]
Trend analysis (Fig. 1). Today, the upward movement with the target of 1.1264 is the upper fractal. In case of a breakthrough, a further upward movement with the target of 1.1275 is a pullback level of 76.4% (yellow dashed line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – […]
After a short pause, China has taken a number of retaliatory measures to increase import tariffs from the United States. Starting June 1, duties on goods amounting to 60 billion will be raised and despite the fact that US exports to China are significantly inferior in terms of imports, measures taken by China are more […]
To open long positions on EUR / USD pair, you need: Yesterday, the bulls failed to keep trading above the level of 1.1241. Today, euro buyers need to return and consolidate above the new resistance of 1.1251 in the first half of the day, which will maintain an upward momentum and lead to an update […]
No important news in the calendar. From the unplanned: New mutual shots in the US-China trade war. Recall: last Friday, Trump raised duties on $ 200 billion-worth of goods from China from 10% to 25%. Yesterday, on Monday, May 13, China responded by announcing that from June 1, it would raise duties on $60 billion-worth […]
GBPJPY came under strong pressure after closing below the 143.75 key support level last week, with the price falling towards a three-month low of 141.19 on Monday. The sell-off however could be overstretched as both the RSI and the Stochastics are fluctuating near oversold levels, a signal justified by the current positive price movement. A […]
The Downward movement remains a priority. It is important to note that the implementation of the recurrent model occurred, which was aimed at the level of 1.0110. The next target of the downward movement will be the weekly control zone of 1.0024-1.0004. Achieving this goal will allow you to record sales by 100% since it […]
Technical Market Overview: The GBP/USD pair has tried again to break through the trendline, but bulls failed again and the fakey candlestick pattern was made ( the classic pattern is Bearish Engulfing which is a trend reversal pattern). The bears pushed the prices lower towards the new local low at the level of 1.2929. Any […]
Yesterday, the determining zone of resistance of the WCZ 1/2 1.3490-1.3479 was tested, which stopped the growth of the pair again. In order to sell an instrument, you need a “false breakout” pattern. The first goal of the decline can be considered in the range of the average daily rate from today’s maximum. This will […]
Yesterday, the pound ignored the news that Labour had resumed negotiations with the representatives of Theresa May’s government. As a result of the April talks, it became clear that the parties are still on opposite sides of the barricades and are not ready to make reciprocal concessions of a substantial nature. In addition, internal political […]
