Last week, precious metals in the markets fell due to the decision of the US Federal Reserve to keep interest rates at the same level. However, in connection with recent statements by US President Donald Trump about a possible increase in import duties on Chinese goods, they again gained altitude. The current situation has provided […]
Wave counting analysis: On May 7, the GBP / USD pair lost about 25 bp. Thus, the upward part of the trend, taking its start on April 25, can be completed. However, this does not clarify the wave marking, which remains very ambiguous and interpretable in any direction. The pair moves mainly with three-wave structures […]
The United States will report producer and consumer price data this week, but with neither indicator expected to alter the inflation outlook, the data will probably play second fiddle to trade headlines when it comes to the US dollar. The producer price index (PPI) is out on Thursday at 12:30 GMT, while the consumer price […]
EURJPY has tumbled towards a fresh four-month low of 123.10 this week as the price started a bearish rally from the 126.80 resistance level. The technical picture supports that the bearish view is likely to continue in the short-term. The MACD is stretching to the downside below its trigger line and the stochastic oscillator is […]
NZDUSD fell aggressively on Wednesday towards a four-month low of 0.6523, but the price recovered most of its lost ground immediately and returned above a key support level of 0.6580. Since both the RSI and the Stochastics are close to oversold levels, the market could keep recouping losses. Yet what remains to be seen is if the bulls have enough […]
Trend analysis (Fig. 1). On Wednesday, technical analysis gives a continuation of the downward movement. The first lower target 1.3021 is the rollback level of 50% (yellow dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – down; – candlestick analysis – down; – […]
For the last trading day, the euro / dollar currency pair showed a low volatility of 50 points, as a result of having another decrease in the level of 1.1180. From the point of view of technical analysis, we have a decline to 1.1180, where previously the quotation felt a support. The sequence of moves […]
The threat of the worsening trade war between the United States and China has led to massive sales in stock markets. The US S & P 500 decline 1.7% to 2,884 p. The Shanghai Composite is trading around two-month lows, losing more than 9% in just 3 trading sessions and falling to 2866.7 p. The […]
Stocks plunge, haven assets shine as markets focus on trade risks RBNZ eases its policy, but kiwi bounces back Pound tumbles amid lack of progress in cross-party Brexit talks Risk aversion accelerates as trade worries prevail Trade concerns dominated price action on Tuesday, with global stock markets accelerating their losses while haven assets like the […]
Trend analysis (Fig. 1). Today, before the news, there was an upward movement with the target of 1.1216 – 21 which is the average EMA (black thin line). After working out the news, it is possible to continue the upward movement with the target of 1.1245 – the resistance line (the red bold line). Fig. […]
To open long positions on GBP/USD you need: The lack of news on Brexit pulls down the British pound, but it’s too early to talk about the turning point of an upward trend from April this year. Buyers are now required to return to the resistance of 1.3987, which will break the formed upper limit […]
Over the past trading day, the currency pair pound / dollar showed volatility, very close to the average daily 91 (93) points, as a result of reaching the predicted value. From the point of view of technical analysis, we see that after a small pullback from the level of 1.3080, the sellers returned to the […]
To open long positions on EURUSD you need: Yesterday’s weak data for Germany and the report of the European Commission prevented the euro from breaking above the resistance of 1.1218. The main goal for today remains in this range, consolidating on which will lead EUR/USD to the area of last week’s high to 1.1260 and […]
For the third consecutive year since 2017, XM will participate at the largest international financial event in the Spanish capital city on 8th June, The Forex Day. Organized for the seventh time now and due to take place on the premises of LASEDE, Colegio de Arquitectos de Madrid, The Forex Day ranks as the number […]
AUDUSD is looking more positive as prices have climbed above the 0.7000 handle after bouncing off the four-month low of 0.6960, however, it is creating a descending triangle formation starting from 0.7390 and finding significant support at 0.6960 over the last five months. Currently, the pair is hovering near the red Tenkan-sen line with the […]
Keeping sales that were opened yesterday is the main plan for today. The first target of the fall is the WCZ 1/2 1.0129-1.0119. Achieving this zone will make it possible for you to close a large part of sales and considering purchases after forming the “false breakdown” pattern. It is important to note that the […]
Crypto Industry News: The Moscow authorities plan to conduct an electronic vote based on Blockchain technology in the elections to the university student council at the end of June 2019. They will establish methods that may apply to the mayor’s future elections. According to the report, the project is to be tested with the support […]
Technical outlook: The US Dollar Index seems to be preparing for a drop (may be a correction) towards the 96.70 levels going forward. The index is trading around the 97.45 levels for now and has broken below its trend line support as presented here. Intermediary resistance is seen at the 98.30 levels for now and […]
Crypto Industry News: According to Bitcoin node statistics reported on the website of the main Bitcoin developer, Luke Dashjr, 60.22% of full nodes run software that is still vulnerable to inflation error. According to the reported data, software running on 60,101 full nodes is prone to error, which allows Bitcoin miners to artificially inflate the […]
Technical Market Overview: The EUR/USD pair has tested the 61% Fibonacci retracement at the level of 1.1215 and the rally upward was rejected at the level. The bears have managed to push the prices lower towards the nearest technical support, but this level never been hit and the price bounced from the level of 1.1173 […]
Yesterday, the closing of the US session occurred below the WCZ 1/2 1.3490-1.3479. This indicates that the local zone of accumulation will continue to form. To continue the downward movement it is necessary to keep the price below the level of 1.3490. The first goal of the decline will be the low of the current […]
Technical Market Overview: The GBP/USD pair has made another leg down after a shallow pull-back towards the level of 1.3131. The move down has exceeded the level of 61% Fibonacci retracement located at the level of 1.3060 and made a new local low at the level of 1.3039. The momentum remains neutral during the move […]
EUR/USD On Tuesday, the euro was trading with an amplitude of 25 points while maintaining the technical conditions of uncertainty. The level of 1.1216, as the point of coincidence of the MACD line with a Fibonacci level of 100.0% on the daily chart, remains relevant since it is a possible turning point for the euro’s […]
The failure to build on the low at 123.35 indicates that the wave ii is not yet complete and a more complex correction is developing. In this regard, a deeper correction towards the support area between 122.14 – 122.51 should be expected before a possible low is established. Resistance is now seen at 123.74 and […]
Morning Report: 07.00 London This morning, the dollar index is on the back foot despite the RBNZ cutting rates and sending the NZD/USD plunging in the early hours of this morning. Since then, the Kiwi has recovered most of these losses, while the dollar index has lost ground and is challenging the week’s lows. The […]
GBP/USD Yesterday, the pound sterling fell by 21 points. The British currency tried to gain a foothold below the MACD line of the daily scale, but the strength of the indicator line, reinforced by supporting the Fibonacci level of 38.2%, has so far been stronger. Also, on a four-hour scale, the price was supported by […]
AUD/USD Yesterday, the Australian dollar made an intensive attempt to overcome the MACD line on a four-hour scale. The attempt turned out to be successful, but the formal consolidation of the price over this line has not happened so far, which was prevented by the collapse of the New Zealand dollar by 78 points after […]
Price bounced off our first support where we might see a further rise in price. Entry : 1.3047 Why it’s good : horizontal swing low support, 100% Fibonacci extension, 38.2% Fibonacci retracement Stop Loss : 1.3017 Why it’s good : 50% Fibonacci retracement Take Profit : 1.3125Why it’s good : horizontal swing high resistance, 61.8% […]
Price is approaching a key resistance at 0.7058 where it could potentially reverse to its support at 0.6998. Entry : 0.7058 Why it’s good : horizontal overlap resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension Stop Loss : 0.7089 Why it’s good : 50% fibonacci retracement Take Profit : 0.6998 Why it’s good : 61.8% Fibonacci […]
EURJPY is approaching its support where it could potentially bounce Entry: 123.16 Why it’s good :100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support Stop Loss : 122.38 Why it’s good : 61.8% fibonacci retracement, 100% Fibonacci extension Take Profit : 124.61 Why it’s good: 38.2% Fibonacci retracement, 61.8% Fibonacci retracement horizontal swing high […]
