Both the Australian and New Zealand dollars have seen the wind leave their sails lately, amid mounting speculation that their respective central banks will cut rates soon, and as investors started having second thoughts about a US-China trade deal. Examining the landscape for each economy, the case for looser policy in New Zealand seems much […]
Bitcoin spiked higher and tested the price of $3.763. Our profit target at $3.543 has been reached. Anyway, after the spike I found a sideways regime, which usually happens after the climatic activity. Symmetrical triangle is building and you should pay attention for the potential breakout of support or resistance trendline. Trading recommendation: Scenario 1 […]
Since June 2018, the EUR/USD pair has been moving sideways with slight bearish tendency within the depicted bearish Channel (In RED). On November 13, the EUR/USD demonstrated recent bullish recovery around 1.1220-1.1250 where the current bullish movement above the depicted short-term bullish channel (In BLUE) was initiated. Bullish fixation above 1.1420 was needed to enhance […]
EUR/USD has been trading downwards. The price did a breakout of the key short-term multi-pivot trendline (1.3000), which is a sign that sellers are in control. The next important support levels are set at 1.1240 and at the price of 1.1215. The short-term trend is bearish and you should watch for selling opportunities. Trading recommendation: […]
The British currency today received another blow. Data on the growth of GDP and industrial production were in the “red zone”, demonstrating a rather significant slowdown. The almost three-year period of uncertainty affects the main macroeconomic indicators of the country, and this fact is increasingly reminded of itself. Against the background of such trends, the […]
The British pound has once again tested the strength of the support level of 1.2922, which did not withstand the pressure after the release of disappointing fundamental statistics on the state of the UK economy, which continues to slow against the background of a number of political and economic events. According to the report, the […]
Gold has been trading downwards. The price tested the level of $1,304.00. According to the H4 time frame, I found that Gold did a successful breakout of the bearish flag pattern (ABC correction) which is a sign that selling continues. I also found confirmed the Head and Shoulders pattern in the background which is another […]
The British economy went into decline in the last three months of last year, which resulted in the growth in 2018 to be the weakest in the last six years. Overall, growth rates fell to 1.4 percent compared with 1.8 percent in 2017. Exports are suffering from the weakness of the global economy and both […]
To open long positions on the GBP / USD pair, you need: The British pound fell in the morning, which allowed buyers to work out my morning scenario in testing the support of 1.2284, which, unfortunately, did not reach several points. As long as trade is conducted above this range, one can count on a […]
On December 12, the previously-dominating bearish momentum came to an end when the GBP/USD pair visited the price levels of 1.2500 where the backside of the broken daily uptrend was located. Since then, the current bullish swing has been taking place until January 28 when the GBP/USD pair was almost approaching the supply level of […]
EURCHF created an aggressive upside spike on Monday, after the bounce off the 40-simple moving average (SMA) in the daily timeframe and on the 23.6% Fibonacci retracement level of the downward movement from 1.1710 to 1.1180, around 1.1305. Currently, the pair is consolidating within a sideways channel with upper boundary the 1.1470 level and lower boundary the 1.1180 support. […]
The negotiations that took place in the US Congress last weekend again did not bring the desired results on the issue of border security, which threatens the likelihood of a deal to further finance the US government this Friday. And it threatens the new “Shutdown.” The immigration issue again became a stumbling block in the […]
At the end of last week, the dollar strengthened by more than 1%, demonstrating the best dynamics since August 2018. The winning greenback series can be the longest since February 2017. The USD index has been closing in the green zone for already 6 trading sessions in a row. The demand for the dollar as […]
To open long positions on EUR / USD pair, you need: As I noted in my morning forecast, amid the absence of an important fundamental statistic, euro buyers are gradually returning to the market and to maintain the upward impulse, it is necessary to return and fix above the resistance of 1.1321. This will open […]
Currently, a number of experts pay attention to signs of a slowdown in the global economy. Most signals indicate that it is approaching a recession. This is confirmed by the large-scale decline in global trade over the past three years. For ten years, most of the negative economic news was perceived by financial markets with […]
The dollar couldn’t improve its position in relation to the single European currency and the pound. Although in the United States themselves no significant macroeconomic data did not come out. It is difficult to name data on production orders or orders for durable goods, as well as applications for unemployment benefits, are so decisive. At […]
Will the British pound be able to recover after the most devastating week since October? The Bank of England’s decline in foggy Albion’s GDP forecasts for 2019 from 1.7% in the previous estimate to 1.2% (the weakest level since the global financial crisis), unfavorable political landscape and a gaining US dollar lowered the GBP / […]
US 30 stock index found strong resistance obstacle at the 200-simple moving average (SMA) in the daily timeframe, hovering around the 61.8% Fibonacci retracement level of the downleg from 2,940 to 2,332, near 2,708. The short-term technical indicators support this notion as the RSI is marginally pointing upwards in the positive area, while the MACD lies near the trigger and zero […]
Overview: The NZD/USD pair breached resistance which had turned into strong support at the level of 0.6705 this week. The level of 0.6705 coincides with a golden ratio (61.8% of Fibonacci), which is expected to act as major support today. The RSI is considered to be overbought, because it is above 70. The RSI is […]
Overview: The GBP/USD pair continues to move downwards from the areas of 1.3210 and 1.2913. Last week, the pair dropped from the level of 1.3210 to 1.2913 which coincides with a ratio of 61.8% Fibonacci on the H4 chart. Today, resistance is seen at the levels of 1.3130 and 1.3210. So, we expect the price […]
The dollar starts the week near a six-week high against a basket of major currencies, investors continue to rely on the security of dollar assets against the backdrop of new concerns about trade tensions between the US and China. Negotiations between these countries will be the main topic of this week. The strengthening of the […]
The first candle of the current week has a range of 105 points, which indicates the implementation of the upward model, with the goal of 1/2 CZ of 1.0050-1.0040. If you take it into account, further developments will depend on whether the close of today’s trading will be below the close of Friday. If this […]
The main question of the new week is whether there will be a new shutdown in the US? As we know, the last shutdown was not fully resolved but only delayed until February 15. The question of the dispute of Trump Democrats in financing the construction of the wall on the border with Mexico has […]
On Monday, the price may continue to move down. The first lower target 1.1291 is a lower fractal. Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – up; – candlestick analysis – up; – trend analysis – down; – Bollinger lines – down; – weekly […]
Wave counting analysis: On Friday, February 8, the bidding ended with another 15 bp decrease. Thus, the option of reducing the instrument, at least to the level of 100% Fibonacci, remains in force. There is a need to look at the behavior of the market at about the level of 100.0%. It is possible that […]
The euro remains under pressure for several reasons: 1. The forecast for growth in the eurozone was lowered – and as a result – the ECB’s super-soft policy 2. The question of the agreement Britain and the EU remains unresolved – and the period of the withdrawal of Britain – the end of March In […]
Large-scale graphics: Since March last year, the bullish wave has been developing, setting the dominant direction to the price trend of the yen major. By the end of the year, the formation of the first 2 parts (A + B) was completed. Medium scale graphics: From January 3, the main course of the short-term set […]
Wave counting analysis: On February 8, the GBP / USD pair lost about 5 bp. during the whole day. Despite such a small amplitude, the pair remains within the framework of building the proposed first wave of a new descending trend segment. Moreover, the internal wave structure of this wave involves the construction of the […]
Trend analysis (Fig. 1). On Monday, the price will move down. The first lower target 1.2854 is a lower fractal. Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – down; – candlestick analysis is neutral; – trend analysis – down; – Bollinger lines – down; […]
Gold price so far shows signs of weakness and signs that an important top is in at $1,326. Last time we warned for a pull back price fell from $1,326 to $1,302. There are still chances we see another test of $1,300 soon, specially as long as price is trading below $1,316. Yellow rectangle – […]
