EURUSD bounced as expected towards 1.12 and closer to the upper channel boundary and got rejected. Medium-term trend remains bearish as long as we trade below 1.1350 and any bounce is still considered as selling opportunity. Black lines – wedge pattern Red lines – bearish channel EURUSD remains inside the red bearish channel since 1.1550 […]
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 January 2nd, the market initiated the depicted uptrend line around 1.2380. On March 11, a Weekly bearish gap pushed the pair below the uptrend line (almost reaching 1.2960) before the bullish breakout above short-term bearish channel could be achieved. Shortly after, the GBPUSD pair demonstrated weak bullish momentum towards 1.3200 then 1.3360 where the […]
BTC has traded upward as we expected. The price tested the level of $5.610. Anyway, there is a strong resistance near $5.610 and our advice is to watch for potential selling opportunities. Purple rectangle – Swing high (resistance) Smaller yellow channel – short-term channel BTC did stop going upward exactly at the resistance and the […]
EURUSD traded higher as we expected yesterday. The price tested the level of 1.1239. The bearish divergence on the oscillator is building but the price is still trading in the well-defined upward channel. Orange rectangle – 20EMA acting like support Green lines – Upward channel Purple rectangle – Strong resistance based on price action EURUSD […]
Gold did test again the key short-term support cluster at the price of $1.278. We expect further upward movement and potential test of upper references. Yellow rectangle – Short-term resistance, which became key support Blue moving average – 20EMA acting like support Green rectangle – Resistance based on price action Green rectangle – Resistance 2 […]
Bitcoin has been extending a climb with proper sustainability along the way towards $5,500, though the price is making downward corrections along the way. There are no weighty reasons for Bitcoin to disrupt the bullish bias. Thus, BTC is expected to develop a steady rally with a target towards $6,000. The price clearing above the […]
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 […]
Overview: The USD/CAD pair continues to move upwards from the level of 1.3368. In April, 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 […]
EUR/USD Over the past six months, a complex upward corrective pattern has been developing on the European currency chart. The unfinished wave of short-term scale is bearish, starting from March 20. By the current day, it forms the final part (C), within which, in turn, an upward corrective pullback is completed. The price of the […]
Good data on the US economy limited the upside potential of the euro, which was observed after more than excellent reports in Germany and the eurozone. According to S&P and Case-Shiller, house price growth in the US slowed down in February 2019. The national housing price index in February rose by 4% compared with the […]
Wave counting analysis: On April 30, the GBP/USD pair gained about 100 base points and now there are doubts about the readiness of the pair to continue building the downward trend. Wave marking is not quite the standard form. The latest news regarding Brexit can be interpreted in different ways. They relate to the negotiations […]
Wave counting analysis On April 30, trading ended for the EUR/USD pair with an increase of 55 bp. Thus, the euro has been growing for the third day in a row, and the internal corrective wave 3 turns out to be very long. The MACD indicator shows growth and passed the zero mark. I am […]
Apparently, the Bitcoin exchange rate is gaining strength again after a small consolidation, which was observed at the beginning of this week. The cryptocurrency is close to a large annual maximum in the region of 5660, which will generate a new impulse wave of growth. Signal to buy Bitcoin (BTC): To resume the upward trend, […]
To open long positions on GBP/USD, you need: After yesterday’s strong growth of the pound, it is best to return to long positions today after the formation of a false breakdown in the support area of 1.3018, but larger players can go only after a deeper downward correction to the area of 1.2983, where you […]
To open long positions on EURUSD, you need: The divergence that was formed on the MACD indicator may limit the further growth of the euro today in the first half of the day. Given the fact that Europe is celebrating Labor Day today, volatility will be low. It is best to consider long positions after […]
Crypto Industry News: Citizens of South Korea buy cryptocurrencies in the largest amounts ever recorded and spend more money fiat to do so, according to the local newspaper. Referring to the results of a non-profit survey carried out in December 2018 by the Korean Foundation for the Protection of Financial Investors, Arirang revealed that 7.4% […]
Morning Report: 07.00 London The US dollar index is weaker again this morning after heavy selling yesterday. While stock markets trade at record highs, the dollar plunged as better than expected consumer confidence dented demand for safe havens. This comes despite mixed tech earnings, with Google slumping and Apple rising after their mixed reports. The […]
Crypto Industry News: According to a published statement, the Australian Tax Office (ATO) will try to contact salespeople dealing with cryptocurrencies in tax matters in a new data collection system. ATO, which cooperates with the Australian Securities and Investment Commission (ASIC) and the Australian Center for Transaction Reports and Analysis (AUSTRAC), claims that it will […]
Technical Market Overview: The GBP/USD pair has broken above the orange trendline and went north to break through the 61% Fibonacci retracement at the level of 1.3029. The local high was made at the level of 1.3047 and so far there are no signs of any trend reversal. Nevertheless, the market conditions are now overbought […]
Technical Market Overview: The EUR/USD pair has been trading inside of the narrow zone located between the levels of 1.1210 – 1.1226, just where the 50% Fibonacci retracement is located. The bulls do not look like they have enough momentum to support further move upward as the RSI indicator is in othe overbought zone and […]
Technical outlook: The EURUSD pair has managed to push through fibonacci 50% retracement/resistance of the recent drop between 1.1324 and 1.1111 levels respectively as presented on the chart here. Also note that the 61.8% extension of recent counter trend rally has also been hit. The likelihood remains for a bearish reversal from current levels or […]
EUR/USD On Tuesday, European economic indicators surprised and came out better than expected; the GDP of the euro area for the 1st quarter showed an increase of 0.4% against the expected 0.3%, the unemployment rate in March fell from 7.8% to 7.7% while the indicator was unchanged. The best part of the GDP structure is […]
GBP/USD Yesterday, the British pound tried to use the temporary weakness of the dollar as much as possible – the pound rose by 100 points, the price on the daily scale at the peak of the day slightly fell short of the resistance of the Fibonacci level of 38.2% and the MACD line, which can […]
USD/JPY Yesterday, the market was highly active – trading volumes were above average, the dollar succumbed to weakening, and the yen itself experienced even greater difficulties. Nevertheless, the support of the indicator line of the daily chart balance was strong enough to keep the currency pair from further falling. On the four-hour chart, technical convergence […]
EURUSD has reached our first short-term target at 1.12 and is trading above it but below short-term trend line resistance. Medium-term trend remains bearish as long as price is below 1.13-1.1350. Red line – support Blue line – short-term resistance trend line Black line – major resistance trend line EURUSD has bounced as expected towards […]
Gold price has held short-term support at $1,280 where we find the lower channel boundary. Bulls need to break above $1,289 in order to push higher towards the major resistance of $1,300. Red line – major resistance trend line Blue lines – short-term bullish channel Red rectangle – short-term resistance area Gold price has short-term […]
The Bank of England will announce its latest policy decision on Thursday at 1100 GMT and is certain that no policymaker will vote for a change as developments around Brexit are still in a limbo a few weeks after the EU decided to grant the UK a six-month extension to exiting from the bloc. Economic prospects that greatly […]
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 January 2nd, the market initiated the depicted uptrend line around 1.2380. On March 11, a weekly bearish gap pushed the pair below the uptrend line (almost reaching 1.2960) before the bullish breakout above short-term bearish channel was achieved. Shortly after, the GBPUSD pair demonstrated weak bullish momentum towards 1.3200 then 1.3360 where the GBPUSD […]
