Wave counting analysis: On May 6, the GBP / USD pair lost about 75 bp, but is already growing again. Considering all the events taking place in the UK, it is somewhat strange to observe such an increase. Nevertheless, you can find a basis for the purchase of the tool, which does not fit in […]
Wave counting analysis: On Monday, May 6, the trading ended for the pair EUR / USD without any changes. The wave pattern of the downward trend is more complicated, but it still implies a decline in the pair. Unfortunately, the news background, which should have caused sales of the instrument, does not attract the attention […]
WTI oil futures managed to close with marginal gains on Monday after falling below the longer-term 50 and 200-day simple moving averages (SMA) to touch a one-month low of 60.02. The short-term bias, though, remains neutral-to-negative as the MACD is losing steam below its red signal line and moving towards zero, while the RSI seems to be unable to return above its 50 neutral […]
US stocks stage comeback as markets doubt Trump’s tariff threats Aussie soars after RBA remains on hold RBNZ decides next – may also disappoint those looking for a cut Stocks bounce back as traders doubt Trump will escalate All eyes remain on the US-China trade conflict. Risk sentiment recovered yesterday as the session progressed, with […]
Markets continue to act out Trump’s statement regarding his intention to increase import duties on Chinese goods this coming Friday, but no panic sales have been observed. The Shanghai Composite has adjusted upwards following yesterday’s collapse, the growth in demand for gold is low, the yen weakens, the S&P 500 closed at 2932.47p, which is […]
Dear colleagues. For the currency pair Euro/Dollar, the development of the local upward structure of May 3 is expected after the breakdown of 1.1220. For the currency pair Pound/Dollar, the price is in the area of local initial conditions of May 3 and the continuation of the upward movement is expected after the breakdown of […]
Following the stock market’s decline from yesterday, in the wake of the new-old threats by the US president to raise trade duties on Chinese exports, the markets calmed down somewhat, but still, as they say, left hanging in suspense. Although investors believe that D. Trump’s threats are just words, because too many opposing sides have […]
For the last trading day, the euro / dollar currency pair showed low volatility of 38 points, as a result of having stagnation followed by exit. From the point of view of technical analysis, we have a primary stagnation at the level of 1.1180, where the developed range was subsequently broken through, restoring the quote […]
GBPUSD has found strong support at the six-week low of 1.2865 on April 25, shifting the short-term negative bias to bullish. Also, cable penetrated the descending trend line to the upside and it jumped above the 23.6% Fibonacci retracement level of the upleg from 1.2390 to 1.3380 around 1.3150 but it pared some of those […]
Over the past trading day, the currency pair pound / dollar showed volatility close to the average daily 89 points, as a result of reaching the predicted value. From the point of view of technical analysis, we see that the pullback that followed the impulse rally reached the predicted value of 1.3080, which reflected the […]
Crypto Industry News: The social media giant Facebook acquired the trademark “Libra” for its secret cryptocurrency project, according to the information from the financial media, who claims that a source familiar with this issue has confirmed that Facebook is recruiting financial companies to develop its own cryptocurrency, and the codename and product name is Libra. […]
Pfizer Inc. and other leading US pharmaceutical companies have joined the Blockchain network construction project for the medical and pharmaceutical industries, according to the published press release. The McKesson Corporation, AmerisourceBergen Corporation, and Premier Inc. joined the MediLedger working group and Pfizer Inc. MediLedger – Blockchain initiative of Chronicled Inc. based in San Francisco – […]
Technical Market Overview: The EUR/USD pair has made it to 61% of the Fibonacci retracement of the previous wave down and the price is testing the level of 1.1215. This would be a perfect place to terminate the corrective bounce and go back to the downtrend. Any higher movement towards the technical resistance zone located […]
Technical Market Overview: The GBP/USD pair has retraced 50% of the recent sudden move up and the market has bounced from the level of 1.3082. The bulls might try to move higher again and try to test the recent high made at the level of 1.3175 as the momentum is still above its fifty levels […]
EUR/USD On Monday, the euro did not develop a downward movement, preferring a consolidation near Friday’s high. The price has consolidated above the balance and MACD lines on the four-hour chart, the signal line of the marlin oscillator on the same scale from the border with the decline territory is turning up. The price, like […]
Morning Report: 07.00 London The Australian dollar is out-performing this morning after the RBA opted to keep rates on hold overnight rather than cut to 1.25 as was widely expected. This, coupled with better than expected retail sales has seen the AUD/USD launch higher and erase all the damage from Monday’s opening gap lower to […]
GBP/USD The British pound fell by 77 points on Monday. The decline was stopped by touching the signal line of the marlin oscillator to the zero line of the four-hour chart. At the moment, the pound is trying to overcome the resistance of the balance line of the daily scale and the Fibonacci correction line […]
USD/JPY Yesterday’s turmoil in the market, caused by Trump’s threat to raise duties on Chinese goods, caused the USD/JPY to decline by 78 points in the moment. As a result, the technical picture on the daily and four-hour charts has completely declined. On both charts the price is below the balance and MACD lines, the […]
When the European market opens, some economic data will be released such as Spanish 10-y Bond Auction, French Trade Balance, and German Factory Orders m/m. The US will also publish the economic data such as Consumer Credit m/m, IBD/TIPP Economic Optimism, and JOLTS Job Openings, so amid the reports, the EUR/USD pair will move with […]
In Asia, Japan will release the Final Manufacturing PMI and the US will publish some economic data such as Consumer Credit m/m, IBD/TIPP Economic Optimism, and JOLTS Job Openings. So there is a probability the USD/JPY pair will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance. 3 : 111.27. Resistance. […]
` Price is approaching our first support where we might see a corresponding bounce in price. Entry : 1.0157 Why it’s good : horizontal swing low support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement Stop Loss : 1.0131 Why it’s good : 100% Fibonacci extension, horizontal swing low support Take Profit : 1.0197 Why it’s good […]
Price is approaching a key resistance at 1.0620 where it could potentially reverse to its support at 1.0576. Entry : 1.0620 Why it’s good : horizontal pullback support, 61.8% fibonacci extension, 50% Fibonacci retracement Stop Loss : 1.0646 Why it’s good : 61.8% fibonacci retracement, horizontal swing high resistance Take Profit : 1.0576 Why it’s […]
Price reversed off key resistance at 111.14 where it could potentially drop further. Entry : 111.14 Why it’s good :50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance Stop Loss : 111.63 Why it’s good : horizontal swing high resistance,61.8% fibonacci retracement, 100% Fibonacci extension Take Profit : 110.07 Why it’s good horizontal swing low […]
Last Friday, the USD index fell, ignoring a strong report on the labor market. This made investors think about whether the US currency hit local highs, followed by a weakening of the greenback and the strengthening of the euro, pound sterling and other currencies. From a fundamental point of view, the “greenback” retains its attractiveness, […]
Donald Trump robbed the markets of hopes for a deal between the two of the world’s largest economies – the United States and China. On Monday, trading began with a sharp demand for defensive assets, whereas earlier the markets laid the final signing of a trade deal this week in quotes. Preferences from what is […]
The Fed fears that it is poorly prepared to deal with the next recession as part of its current approach to targeting inflation. In addition, efforts are being made this year to test new interest rate management strategies around the world with low inflation and borrowing costs. But US central banks and monetary policy experts […]
Following Donald Trump, other representatives of the US administration called on the Fed to lower the Federal funds rate. Vice President Michael Pence and chief economic adviser to the head of state Larry Kudlow believe that the economy works very well and the time has come to further disperse it by easing monetary policy. However, […]
The euro-dollar pair is on the verge of falling into a tailspin to the support level of 1.1120, followed by a test of the 10th figure. But, despite the pressure of sellers, the pair remains at the borders of the 12th figure, demonstrating a certain resistance. The financial world is frozen in anticipation of the […]
EURUSD bounced of the 1.1150 support towards 1.12 but a zoomed out view of the Daily chart shows that the trend remains bearish as price continues to make lower lows and lower highs inside a downward sloping channel and inside a downward sloping wedge pattern. Red lines – bearish channel Black lines – downward sloping […]
Gold price bounced towards short-term resistance at $1,290 but still did not manage to break above it. Price remains below important resistance trend line and a break below $1,276 short-term support is very possible over the coming hours. Red rectangle – major confluence zone Blue line -major resistance Blue rectangle – short-term support Gold’s inability […]
