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 […]
Labour market indicators will be published in New Zealand on Wednesday at 10:45 local time (Tuesday, 22:45 GMT), in what will be the last major release before the Reserve Bank of New Zealand’s policy meeting on May 8. With rate cut expectations running high, the New Zealand dollar is vulnerable to positive surprises in the […]
BTC price did break new created bullish flag pattern on the 4H time-frame and confirmed the rejection of the lower diagonal of the upward channel. Watch for buying opportunities. Orange rectangle – Resistance level, which became support Purple rectangle – major short-term resistance The bearish correction is completed in our view since the orange supply […]
Societe Generale experts believe that the time has come to buy the euro, as pessimism about the prospects of the European economy will gradually come to naught. “Market sentiment towards the single European currency has improved significantly. It allows counting on the growth of the euro against the dollar to the level of $ 1.16,” […]
To open long positions on the GBP / USD pair, you need: In the morning review, I focused on the level of 1.2946 and the expected breakout led to the continuation of the upward correction in the GBP/USD pair. At the moment, the target of bulls is the resistance of 1.3017 and a breakthrough will […]
To open long positions on EUR / USD pair, you need: Good data on the euro area, including GDP and the German consumer price index, helped euro buyers cope with all the tasks that were set for them in the first half of the day. Now, a test with a fixation above 1.1233 resistance is […]
While oil has been marked as the best start in the first four months of the year since 1999, it is argued on the market what this may all end with. Since the 1970s, every rapid rally of black gold has turned into problems for the global economy. Consumer spending on gasoline and diesel fuel […]
EURUSD traded higher as we expected yesterday. The price tested the level of 1.1220. Strong bullish momentum is present and we still expect further upside. Orange rectangle – 20EMA acting like support Blue horizontal line – Resistance level EURUSD did exactly how we expected yesterday. After the breakout of supply trendline (yellow diagonal) in the […]
The Fed will announce its policy decision on Wednesday at 18:00 GMT. No action is expected, so Chair Powell’s remarks in the subsequent press conference (18:30 GMT) will likely steal the show. Inflation has cooled lately, which combined with still-elevated risks abroad, suggest that the Fed could maintain a cautious tone. While that may weigh […]
Gold traded higher in past 24h period as we expected and level of $1.278 provided great support. 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 […]
Tomorrow, the United States Federal Reserve System (FRS) will announce its decision on monetary policy. Recently, the US Central Bank made a dovish reversal, which eliminates the interest rate increase by the end of this year and announces its intention to complete the program to reduce its balance in September. Greenback was depressed for a […]
Currently, many market participants have begun to sell US currency and invest in “risk assets” – stocks, raw materials and emerging markets due to the suspension in raising rates by the US Federal Reserve. However, this trend is fading away. Last week, the US dollar struck many-month highs against most world currencies. At the same […]
Tomorrow, May 1, there will be a one-day meeting of the Federal Reserve on monetary policy. Investors consider it a landmark, as they believe that because of the results, the regulator may give a signal about the decision to soften monetary policy by lowering interest rates in the second half of this year. Such predictions […]
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 […]
Apple’s stock price gave up some gains after topping at a fresh five-month high of 208.39 last week and as the RSI in the four-hour chart peaked in overbought area. The 20-period simple moving average (SMA), however, stood on the defensive once again, keeping the market action in the January uptrend. The falling RSI and the weakness in the MACD […]
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: Pivot: 0.712. The AUD/USD pair is set above strong support at the levels of 0.7046 and 0.7168. This support has been rejected four times confirming the uptrend. The major support is seen at the level of 0.7046, because the trend is still showing strength above it. Accordingly, the pair is still in the uptrend […]
Work is carried out to this week within the local accumulation zone formed by the highs of the past week. As long as the pair is trading above the 1/4 WCZ of 1.0183-1.0178, the upward movement will remain an impulse. The probability of violation of the upward impulse and the formation of a deep correctional […]
While the Bitcoin rate is consistently above the level of 5 000 USD, the globalization of the crypto industry continues to gain momentum. Most recently, a meeting was held at which 24 financial institutions and 11 international organizations, including the International Monetary Fund and the World Bank, discussed international standards for the regulation of cryptocurrencies. […]
GBPUSD printed a bullish doji on Thursday near a 2 ½ -month low of 1.2864 before showing some recovery in the following sessions. While the RSI and the MACD seem to be improving in bearish territory, the market needs to overcome the descending trend-line drawn from the 1.3380 peak for the bulls to energize. The 38.2% Fibonacci level of 1.3007 of the […]
China disappointed today. During the Asian session in China, the PMI business index in the manufacturing industry was published based on a calculation by Caixin specialists. Contrary to optimistic forecasts, the indicator fell to 50.2 points but did not reach its previous value of 50.8 points. Official figures turned out to be even weaker. The […]
Wave counting analysis: On April 29, the GBP / USD pair gained about 15 base points, which is still not enough to make any additions to the wave marking. Thus, as before, it involves the development of building a downward trend with goals located near the levels of 127.2% and 161.8% Fibonacci. Brexit recently did […]
Wave counting analysis: On Monday, April 27, trading ended for EUR / USD by 40 bp increase. The total growth in the last two days indicates the construction of an internal correctional wave, and after the completion of which, the lowering of the instrument should resume. This is exactly the scenario I expect from the […]
Buyers are trying to return the euro to the range and disrupt the trend. Perhaps they will succeed. The main event will be the Fed’s monetary policy decision on Wednesday at 18:00 London time – if the statement indicates an acceleration in economic growth – this could give a new impetus to the dollar growth. […]
To open long positions on GBP / USD you need: In the morning, pound buyers need to consolidate above the resistance of 1.2946. Only after that can we expect the resumption of an upward correction with an update of targets in the area of 1.2983 and 1.3017, where I recommend to lock in the profit. […]
Solid US growth and muted inflation boosts US dollar and Wall Street But other majors sag as disappointing Chinese PMIs revive growth fears Fed to start two-day monetary policy meeting, unlikely to alter stance Dollar eases from 22-month high but remains supported ahead of FOMC meeting The US currency was outperforming its peers early on […]
We would like to inform you that due to several public holidays, all of which take place in May, the trading hours of various instruments will be affected between 3 and 30th May 2019. Please view the tables below to see which instruments will be affected and how: Instrument 03/05 06/05 POL20Cash Closed Normal Hours […]
EURUSD tumbled into the 1.11 region on Friday for the first time after almost two years, stretching further its long-term downward pattern. While Monday’s bounce justified oversold signals by the Stochastic indicator, the weakness in the RSI, which continues to hover below 50, and the negative slope in the Ichimoku indicators (red Tenkan-sen and blue Kijun-sen) […]
