Overview: The NZD/USD pair is showing signs of weakness following a breakout of the lowest level of 0.6648. On the H1 chart, the level of 0.6648 coincides with 23.6% of Fibonacci, which is expected to act as minor support today. Since the trend is below the 23.6% Fibonacci level, the market is still in a […]
Minor (Daily) Euro vs Japanese Yen Previous review from 04/26/2019 19:57 UTC + 3. ____________________ The development of movement of cross-tool EUR / JPY in May 2019 will be determined by the direction of the breakdown range: -> the level of resistance of 125.20 (initial line SSL Fork operational scale Minute); -> support level 124.75 […]
Minor (Daily) Great Britain Pound vs US Dollar Previous review from 04/26/2019 19:59 UTC + 3. ____________________ The development of the movement of Her Majesty ‘s currency in GBP / USD in May 2019 will be due to the testing and direction of the breakdown of the 1/2 Median Line channel borders (1.3000 <-> 1.3050 […]
Overview: The USD/CAD pair continues to move upwards from the level of 1.3368. The pair rose from the level of 1.3368 (the level of 1.3228 coincides with a ratio of 38.2% Fibonacci retracement) to a top around 1.3519. But it rebounded from the top pf 1.3519 to 1.3370. Today, the first support level is seen […]
The US 30 index is trading below the six-month high of 26,712, remaining well above the ‘golden cross’ between the 50- and 200-day simple moving averages (SMAs). The index is on the back foot and the technical indicators suggest that the market could ease a little bit in the short-term; the MACD is easing in the positive zone, […]
Minor (Daily) Euro vs US dollar Previous review from 04/26/2019 20:00 UTC + 3. ____________________ The European currency will be in the equilibrium zone (1.0930 <-> 1.1210 <-> 1.1490). direction of the range breakdown: -> resistance level 1.1310 (control line UTL forks for operating scale Minute); -> support level 1.1210 (Median Line Minor mid-line). The […]
Wave counting analysis: On May 2, the GBP / USD pair lost 20 basis points only. Thus, there are grounds for assuming the completion of the upward correctional wave. However, for the time being, the deviation of quotes from the reached maximums is too small for an unequivocal conclusion. Moreover, the current wave structure still […]
Wave counting analysis: On Thursday, May 2, the trading ended for the EUR / USD with another decline of 25 b.p. Thus, the conclusion suggests that the pair has moved to the construction of a downward wave 3, which is according to a signal from the MACD indicator. If this is true, then from the […]
Although the final decision of the Fed to leave the key interest rate unchanged was expected, the resolution of the bank, as well as, the speech of the head, Jerome Powell, somewhat differed from the general views of market participants. We have previously indicated that investors were determined that the bank could lower interest rates […]
The GBP/USD pair declined slightly after the Bank of England (BOE) delivered its interest rates decision. As expected, the bank voted unanimously to leave interest rates unchanged. It also signaled that the pace of interest rates hikes will be slow, even as the economy remains resilient as the uncertainty about Brexit intensifies. Investors now expect […]
The number of jobs an economy creates is very important. This is because it determines the rate of inflation, the level of consumer spending, the productivity of an economy, and the amount of money spent by the government on social programs like welfare. For this reason, investors constantly look at the number of jobs created […]
This week, the earnings season continued, with the release of the first quarter results by major companies lie Herbalife, Google, Shake Shack, Arista Networks, and Gilead Sciences. As the season nears the end, it has been a relatively successful one, with most companies reporting better-than-expected earnings. In addition to the earnings, the IPO market continued. […]
GBPJPY had a strong pullback on the downtrend line of the descending triangle around 145.85, which has been holding since March 14, sending prices slightly below the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. From the technical point of view, the price could lose some momentum in the short-term as the RSI […]
To open long positions on GBP/USD you need: Yesterday’s statements by the Bank of England on a possible earlier increase in interest rates did not inspire buyers of the pound. In the first half of the day, the bulls are required to stay above the support level of 1.3018, and the formation of a false […]
To open long positions on EURUSD you need: Yesterday afternoon, euro buyers failed to stay above support at 1.1188, which led to further downward movement. Today’s goal for the first half of the day will be to return to this range, which may lead to an increase in EUR/USD in the resistance area of 1.1223, […]
Dear colleagues. For the currency pair Euro/Dollar, the price is close to the cancellation of the upward structure from April 25, which requires a breakdown of the level of 1.1147. For the currency pair Pound/Dollar, the price is in correction from the upward structure on April 25. For the currency pair Dollar/Franc, we follow the […]
The Australian dollar is in the grip of a contradictory fundamental background. On the one hand, there are rumors about the end of the US-China trade war, on the other, the prospects for lowering the interest rate by the Reserve Bank of Australia against the background of slowing inflation. In addition, the AUD/USD pair is […]
US dollar extends gains ahead of today’s nonfarm payrolls report Aussie hits 4-month low as odds rise of RBA rate cut next week Oil prices slump on oversupply concerns as US output continues to surge Dollar stands tall ahead of NFP report There was little to hold back the US dollar on Friday as recent […]
On the market, a reversal towards the dollar – after strong data on US GDP data for Q1 (+ 3.2%) and a strong employment report for April from ADP (+275 K). If strong labor market data is confirmed on Friday (Nonfarm) at 11:30, the market may start a trend towards a stronger dollar. EURUSD: Strong […]
The EURUSD rate has formed strong levels for a breakthrough and the beginning of a strong movement. Perhaps the impetus for the beginning of a trend will be the US employment report for April, which will be released on Friday at 11:30 London time We are ready to sell the euro at a break down […]
Crypto Industry News: TrustToken has published its latest stablecoin, TrueCAD, which is linked to the Canadian dollar. TrustToken has also created many other stablecoins, such as TrueUSD (US Dollars), TrueGBP (British Pounds) and TrueAUD (Australian Dollars). Each of them is supported in a supposed ratio of 1: 1 with associated fiat currencies. For now, the […]
Crypto Industry News: The World Economic Forum (WEF) has joined forces with more than 100 global supply chains and logistics leaders to standardize the Blockchain app, announced the organization. WEF, an organization based in Switzerland, whose motto is to be involved in “improving the world’s status”, announced the new project “Redesigning Trust: Blockchain for Supply […]
Morning Report: 07.00 London This morning, the US dollar index is nipping back after making solid gains in each of the last two days. There are tentative gains across dollar pairs, with the GBP/USD limiting losses and holding above 1.3000 as the Bank of England boosted growth forecasts. The EUR/GBP continues to step lower, falling […]
In an attempt to reach out to a growing number of retail investors who embrace the XM free education, we have recently hosted educational events in further cities across Thailand this spring. Between 6th and 27th April, we were pleased to welcome clients to our seminar series titled The Avramis Trend Reversal and Breakout Strategies […]
USDCAD bounced on the 20-day simple moving average (SMA) on Wednesday, switching its weekly status from negative to positive, a move that also kept the three-month trend to the upside. The risk is currently viewed as bullish-to-neutral as on the one hand the RSI seems to be changing direction southward to meet its 50 neutral mark, but the red Tenkan-sen is on a sideways move above the […]
EURGBP has been on a bearish mode for most of the week, tumbling beneath the 23.6% Fibonacci retracement level of the downleg from 0.9110 to 0.8470, around 0.8620. Also, the price is hovering below the 20- and 40-simple moving averages (SMAs), while it has been remaining in a narrow range of 0.8680 – 0.8470 since […]
Technical Market Overview: The GBP/USD pair has tested the technical support after the Bearish Engulfing candlestick pattern was made with a top at the level of 1.3101. Currently, due to the overbought market conditions and almost neutral RSI, the market might try to break through the support at the level of 1.3017 and move towards […]
Technical Market Overview: The EUR/USD pair has broken below the 61% Fibonacci retracement at the level of 1.1170 after the Bearish Engulfing candlestick pattern was made around the level of 1.1265. The price has broken through the short-term trendline support as well and is on its way to the level of 1.1150 first and then […]
USD / JPY pair On Thursday, the USD/JPY pair is managed to stay above the balance line of the daily chart. The line is the red line signal and the MACD line (blue) on the H4 chart. If you’re not in the first place, you should see a 112.58. If you’re on the road to […]
GBP / USD pair On the second attempt of the sterling pound, it could not go above the daily MACD line at1.3060, where it also met with resistance of the Fibonacci level of 38.2%. This is an important sign of a probable decline but not sufficient enough. First of all, the low volatility of the […]
