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) […]
Trend analysis (Fig. 1). On Tuesday, technical analysis demonstrates the continuation of the upward movement. The first upper target of 1.2988 is the pullback level of 23.6% (yellow dotted line). Fig. 1 (daily schedule). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – […]
On Monday, the market, moving up, almost reached the pullback level of 38.2% (yellow dotted line). On Tuesday, strong calendar news comes out at 10.55 and 17.00 Moscow time. Today, after reaching the rollback level of 38.2% (yellow dotted line) – 1.1193, a pullback is possible, but only a pullback, and so the upward trend […]
To open long positions on EURUSD you need: Yesterday, buyers coped with the task and consolidated above the level of 1.1174, to which I paid attention in my review. At the moment, the goal is a resistance of 1.1203, but everything will depend on the eurozone data that will be released today in the morning. […]
For the last trading day, the currency pair pound / dollar showed an extremely low volatility of 41 points, where the quotation, strictly speaking, stood still. From the point of view of technical analysis, we have a correctional phase from the value of 1.2865, where over the past day, the quotation cutting slowed down the […]
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Technical Market Overview: The GBP/USD pair has bounced finally from the level of 1.2866 and is trading inside the supply zone located between the levels of 1.2938 – 1.2960. This is an important technical resistance zone and any breakout through this zone would extend the rally towards the level of 1.2977, 1.2996 or 1.3012. The […]
Morning Report: 07.00 London The Japanese yen is in demand today on the day of the Emperor’s abdication. This comes after Chinese Manufacturing PMI and Chinese Caicin Manufacturing PMI both slumped below expectations, raising fears of a global economic slowdown. The USD/JPY is reversing yesterday’s losses and is sitting below the 111.50 level. The EUR/JPY […]
AUD/USD Today, the Australian dollar went down ahead of the market. The reason was the weak data on the Chinese PMI. Manufacturing PMI in April fell from 50.5 to 50.1 against an expected growth to 50.7, Non-Manufacturing PMI fell from 54.8 to 54.3. According to the company Caixin, production PMI was 50.2 against 50.8 previously. […]
Yesterday, EUR/JPY tested short-term important resistance at 125.17, but failed to break above. This keeps the corrective decline alive and continues to call for a final dip into the 123.85 – 124.05 area to complete the wave ii and set the stage for a new impulsive upward rally through 126.85 towards 129.35. Only a direct […]
When the European market opens, some economic data will be released such as Italian Prelim GDP q/q, Italian 10-y Bond Auction, Unemployment Rate, Italian Prelim CPI m/m, Prelim Flash GDP q/q, Italian Monthly Unemployment Rate, German Unemployment Change, German Prelim CPI m/m, Spanish Flash CPI y/y, Spanish Flash GDP q/q, French Prelim CPI m/m, French […]
In Asia, Japan will not release any economic data today, while the US will publish some economic data such as Pending Home Sales m/m, CB Consumer Confidence, Chicago PMI, S&P/CS Composite-20 HPI y/y, and Employment Cost Index q/q. So there is a probability the USD/JPY pair will move with low to medium volatility during this […]
Price is facing bearish pressure from our first resistance where we can expect a drop below this level to our first support level. Stochastic is approaching resistance as well. Entry : 1.1190 Why it’s good : horizontal pullback resistance, 23.6%, 38.2% fibonacci retracement, 61.8% Fibonacci extension Stop Loss : 1.1225 Why it’s good : horizontal […]
Price is approaching a key resistance at 0.6719 where it could potentially reverse to its support. Entry : 0.6719 Why it’s good : horizontal pullback support, 38.2% fibonacci retracement, 61.8% fibonacci extension Stop Loss : 0.67772 Why it’s good : 50% Fibonacci retracement Take Profit : 0.6639 Why it’s good : 61.8% fibonacci retracement The […]
On the first trading day of the week, the euro-dollar pair continued to drift around the middle of the 11th figure. Both the bulls and the bears of the pair could not win over the majority of market participants – the controversial US data has once again messed things up. By and large, the situation […]
After reaching almost two-year highs, the US currency’s rise has stopped. Apparently, the greenback took a wait-and-see position on the threshold of two key events of the current week. On Wednesday, the next meeting of the Federal Reserve System (FRS) of the United States is to be held, and a report on the US labor […]
4-hour timeframe The amplitude of the last 5 days (high-low): 27p – 69p – 84p – 45p – 63p. Average amplitude for the last 5 days: 58p (45p). The first trading day of the week was very predictable. The volatility is minimal, there is no intraday trend, the correction is maintained. In the morning we […]
4-hour timeframe The amplitude of the last 5 days (high-low): 23p – 91p – 76p – 51p – 69p. Average amplitude for the last 5 days: 62p (54p). On Monday, April 29, the British pound sterling continues to adjust, but there is low volatility again, not more than 40 points during the day. Two price […]
Last week, the Canadian dollar fell against a basket of major currencies, responding to the dovish results of the Bank of Canada’s April meeting. The USD/CAD pair followed the general trend and rose to an annual high of 1.3520. But the upward impulse turned out to be short-term – on Friday, the loonie settled within […]
EURUSD as expected from last week, we were warned by the short-term reversal signs, is approaching our short-term target of 1.12. Medium-term trend remains bearish as long as price is below 1.1350. Blue line – major resistance trend line Red rectangle – short-term support EURUSD is moving higher making higher highs and higher lows. Price […]
Gold price got rejected after the bounce at the $1,288 area. Gold price bounced towards resistance of $1,280-90 from $1,266 as a back test as expected. Medium-term trend remains bearish. Red line – major resistance trend line Blue lines -bullish divergence Green rectangle – resistance (previous support) Gold price is making higher highs and higher […]
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 […]
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% […]
EURUSD is trading sideways in past 24h at the price of 1.1151. The strong impulsive upward movement in the background is present and you should still watch for buying opportunities. Orange rectangle – Short-term resistance, which became key support Yellow large diagonal – Resistance based on price action EURUSD is in creation of the potential […]
Gold traded lower in past 24h period but it is on critical support at $1.279.00 and selling at the support looks very risky. We are expecting further upside and potential test of the upward references. Yellow rectangle – Short-term resistance, which became key support Green rectangle – Resistance based on price action Green rectangle – […]
BTC price did break the bearish flag pattern in the background, which is sign for further downward movement. The resistance at $5.441 didn’t hold like support, which is another sign that buyers lack power for any larger break. Yellow upward channel – Bearish flag pattern Lower big diagonal – major short-term support We found big […]
Buyers of the European currency failed to cling to a large resistance level around 1.1180 and did not update it, and weak data released in the first half of the day on consumer confidence in the eurozone and lower lending, discouraged any interest from large players in the short-term purchase of risky assets. According to […]
To open long positions on GBP / USD you need: Pound buyers could not build a new wave of growth in the first half of the day, but the probability of continuing upward correction remains quite high. The formation of a false breakdown at 1.2915, to which bears are now very close, will be a […]
To open long positions on EURUSD you need: The situation has not changed in comparison with the morning forecast. After an unsuccessful Friday attempt to continue strengthening the US dollar, amid a good report on US GDP, euro buyers returned to the level of 1.1144, and as long as trade is conducted above this range, […]
