USDJPY has been underperforming in the past two days, breaking back below the 23.6% Fibonacci retracement level of the upleg from 104.64 to 112.40, around 110.60, creating a bearish correction in the near term. When looking at the bigger picture the pair lacks a clear trend and has been consolidating within 104.60 and 114.55 since […]
The break below important support at 143.74 confirmed that wave 2 still is in motion. The sideways consolidation since mid-March has been a b-wave triangle and the break below 143.74 confirmed that wave c lower to 141.05 is developing. Short-term the triangle support-line near 143.74 will act as resistance and turn prices lower towards the […]
The corrective decline from 127.50 still has more room to cover and should make it down to the support-area between 122.14 – 122.51 before renewed upside pressure should be expected. Short-term resistance is seen at 123.50 which ideally will be able to cap the upside for more downside pressure towards 122.51. Only an unexpected break […]
EUR/USD On Wednesday, the euro worked a magnetic point of intersection of the MACD line with a Fibonacci level of 100.0% on the daily scale chart, which fulfilled our main scenario. The euro resisted external pressure due to better-than-expected industrial output in Germany, where the March indicator showed a 0.5% increase against the forecast of […]
GBP/USD On Wednesday, the pound sterling did not look for a place to exploit and preferred to move along the path of a lesser resistance. They were reduced to a Fibonacci level of 23.6% on a daily scale chart. The daily decline was 68 points. As a result, the price consolidated below the balance and […]
For the third consecutive day, the GBP / USD pair retreats from the monthly highs noted last Friday. Traders play the information that the United Kingdom will take part in the elections to the European Parliament, which will take place in two weeks. This was announced yesterday by the head of the secretariat of the […]
The passion around the trade deal between the United States and China does not subside, which gives rise to sharp movements in the foreign exchange market. Investors are beginning to worry since Friday, and consequently, the introduction of new tariffs on Chinese goods from the US is getting closer. Although Beijing is committed to continue […]
Price is approaching resistance where we might see a corresponding drop in price to our first support level. Entry : 1.12270 Why it’s good : horizontal overlap resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement Stop Loss : 1.1277 Why it’s good : 76.4% Fibonacci retracement, pullback retracement Take Profit : 1.1144 Why it’s good : […]
Price is approaching a key resistance at 1.3490 where it could potentially reverse to its support at 1.3444. Entry : 1.3490 Why it’s good : horizontal swing high resistance, 78.6% Fibonacci retracement, 100% & 61.8% Fibonacci extension Stop Loss : 1.3528 Why it’s good : horizontal swing high resistance Take Profit : 1.3444 Why it’s […]
USDJPY is approaching its support where it could potentially bounce Entry: 109.91 Why it’s good :100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support Stop Loss : 109.53 Why it’s good : 61.8% fibonacci retracement Take Profit : 110.91 Why it’s good: 38.2% Fibonacci retracement, 61.8% Fibonacci retracement horizontal swing high resistance The material […]
The fall in world stock indices and the yield of US Treasury bonds following Donald Trump’s statement that he would raise tariffs from 10% to 25% on $200 billion worth of imports from China starting on May 10, were liked by the “bulls” on XAU/USD. Quotes of the pair rose to a three-week high, but […]
Tweets by Donald Trump last Sunday have turned everything upside down, and in the center of investors’ attention, is a possible disruption of the deal between the US and China and, as a result, the escalation of the trade conflict. Thus, concerns in the markets are increasing every day. Traders are trying to understand exactly […]
Fundamentals: RBNZ cuts key rate to 1.5% this morning, as a forecast by most economist. “The monetary policy committee decided a lower OCR is necessary to support the outlook for employment and inflation consistent with its policy remit”, the central bank said in a statement. It was also stated that employment is near maximum sustainable […]
EURUSD is trading in a tight range forming a triangle pattern. Today we saw price get rejected at the upper triangle boundary and support is at 1.1150. Failure to hold this level will open the way for new lows as price remains inside a longer-term bearish channel. Red lines – bearish channel Black lines – […]
Gold price marginally moved above $1,288 previous high but soon after got rejected. In our previous post we mentioned how important resistance area this is and there was always the danger of getting rejected. Now our focus is shifted to the short-term support at $1,276. Red rectangle- major confluence zone Blue line -major resistance Blue […]
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 was demonstrated on April 15. Short-term outlook turned to become bearish towards 1.1280 (61.8% Fibonacci) then 1.1235 (78.6% Fibonacci). For Intraday traders, the price zone around 1.1235 (78.6% […]
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 […]
Despite the ongoing Brexit drama, Friday is expected to be a good day for the British economy as flash GDP growth for the first quarter of the year, industrial output and trade balance figures are all awaited to show improvement at 0830 GMT. The move in sterling, however, is still heavily dependent on the progress […]
Overview: The USD/CHF pair continues moving in a bullish trend from the support levels of 1.0123 and 1.0177. Currently, the price is in an upward channel. This is confirmed by the RSI indicator signaling that the pair is still in a bullish trend. As the price is still above the moving average (100), immediate support […]
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 […]
USDCHF is lacking near-term direction as the pair continues to consolidate after touching a two-year high of 1.0235 in April. The RSI has come off from overbought levels and the MACD histogram has crossed below its red signal line, pointing to some downside risks. However, the declines have been gradual and both indicators are looking […]
BTC is trading inside of the well-defined trading range. Watch for potential breakout of the resistance or support to confirm further direction. Purple rectangle – Resistance $6.270 Green rectangle – Short-term support $5.720 Green lines – Upward channel According to the Daily time-frame, we found that BTC is trading inside of the well-defined trading range […]
Gold has been trading downwards as we expected. The price tested the level of 109.90. Anyway, we found that sellers are losing down momentum, which may be a strong sign for potential rally in the future. Purple rectangle – Intraday resistance 110.17 Blue rectangle – Short-term support 109.90 Blue line – Middle of Keltner Channel […]
The US dollar index has reversed back down after finding resistance at the 23-month high of 98.05 achieved on April 25. However, the price has remained above the 50-day simple moving average (SMA) over the last five weeks as well as above the uptrend line, which has been standing since September 2018, suggesting upside tendency […]
Gold did break the key resistance at the price of $1.288 and set the tone for the next few days. Buying opportunities are prefereble. Yellow horizontal line – Resistance-Upward objective Yellow rectangle – Broken resistance now support Blue line – Middle of Keltner Channel EMA According to the Daily time-frame, we found that Gold finally […]
After having a mediocre year in 2018, Bitcoin has been rising this year. The currency has gained by more than 40% and this week, it passed the $6000 level. Year-to-date, the currency has gained by more 54%. There are a number of reasons why the price has continued to rise. First, after falling sharply in […]
New Zealand is a relatively small country. It has a population of almost 5 million and a GDP of more than $205 billion. It is an important country because of its key trading partners and its location. As a key trading partner with China and Australia, the country is often viewed as a proxy of […]
South Africa is the second-largest economy in Africa, with a GDP of more than $350 billion and a population of more than 56 million people. In recent years, the country has seen a number of challenges, that have seen its GDP slow down for a number of years. As a result of the slowing GDP, […]
The yen has updated a six-week high against the dollar. Growing concerns about the trade dispute between the United States and China are forcing investors to seek refuge and increase the value of safe assets. The trade surplus, which is a major irritant for Washington, increased to $ 21.01 billion in April compared with the […]
Industry news in Germany showed – unexpectedly for experts – a noticeable increase. In March, German industry showed a growth of + 0.5%, with a forecast of a fall of -0.5%. This is the second month of growth in a row. According to the US: The head of JPM Dimon said that he considers it […]
