Large-scale graphics: The vector of the dominant direction of the short-term trend of gold is directed upwards. The wave completes a larger ascending design, the preliminary target zone of which is in the region of $ 1400 / oz. Medium scale graphics: The rising wave of November 13 formed the final part (C) in the […]
According to Bloomberg, citing the updated forecast of the European Commission (EC), this year the eurozone economy will grow only by 1.3%, not 1.9%, as previously reported. Recall that in the euro area includes 19 European countries, and their official currency is the euro. In November last year, the EC forecast was more optimistic. He […]
AUD / USD pair The decline in prices for most commodities increases the pressure on the Australian currency, which was observed yesterday. Oil, copper, as well as, coffee and sugar fell by 2.48%, 0.36% and more than 1.0%, respectively. On both daily and the four-hour charts, the downward trend is fully maintained, which allow us […]
Analysts of the American company Pimco, one of the world’s largest investors in the bond market, are advised to pay attention to currencies in emerging markets. They are sure that they should buy them, and not US dollars or euros. Pimco believes that at the moment, there are many reasons to acquire the assets of […]
It feels like Theresa May flew to Brussels for breakfast, as for them the hospitable Jean-Claude Juncker fed her. Of course, the head of the European Commission promised to make adjustments to the political declaration of intent, which outlines the common and rather vague contours of interaction between the European Union and the United Kingdom […]
GBPJPY has rebounded somewhat on the 40-day simple moving average (SMA), which posted a bullish crossover with the 20-day SMA. Also, the price surpassed the 38.2% Fibonacci retracement level of the downleg from 156.60 to the more than two-year low of 132.50, around 141.70. Despite the bullish cross of the SMAs, the technical indicators continue to slow […]
Risk aversion returns as Trump reignites trade fears, says he won’t meet Xi soon Sterling rebounds as BoE sticks to hiking plans, but Brexit uncertainty lingers Euro drifts lower after EU Commission slashes growth forecasts Canadian employment data coming up Stocks take a hit as Trump says he won’t meet Xi soon US equity markets […]
Wave counting analysis: On Thursday, February 7, trading ended with a decline by another 40 basis points. Thus, the main option continues to be worked out, involving the construction of a downward wave 3 with targets located near the minimum of wave 1 and below. Wave 3 in its internal wave structure still does not […]
Yesterday’s decision of the Bank of England led to a decrease in the pound, but then buyers returned to the market amid statements made following a meeting in Brussels by representatives of the UK and the EU. Great Britain As indicated in the minutes of the meeting of the Bank of England, in February, it […]
Wave counting analysis: On February 7, the GBP / USD pair gained about 20 bp, which did not affect the current wave counting. Now, we can assume that on the eve, an internal correctional wave was built, consisting of 1 or a new downward trend section. this assumption is true, the decline in quotations will […]
Large-scale graphics The downward vector that set the entire last year to the movement of the cross price wave ended a month ago. In the wake of the global trend, it has become a correction. Medium scale graphics: From January 3, the price began to form the basis for a new trend wave. Considering the […]
Morning Report: 07.00 London The US dollar index is building on its recent bull run, rallying for the sixth straight day after Trump ruled out meeting China’s President Xi before a deadline for tariff increases. The AUD/USD is slipping lower, falling to break through the mid-January lows, while the AUD/JPY follows the same pattern to […]
USDCAD has maintained bullish momentum for the fifth consecutive trading day, reaching two-week highs at 1.3328 on Friday. In the short-term, the RSI is signaling further improvement as the indicator is rising above its 50 neutral mark. Yet with the fast stochastics rising towards the overbought threshold of 80, downside corrections cannot be ruled out. An extension above today’s high of […]
Signals for the EUR / USD pair: A breakout at the level of 1.1345 will lead to the growth of the euro in the area of 1.1368 and 1.1394. However, a breakthrough at 1.1317 will lead to sales of the euro in the area of 1.1292 and 1.1272. Signals for the GBP / USD pair: […]
Trading plan for 08/02/2019: The Asian stock market is bitter after the US-China trade negotiations The hopes for trade agreements between the US and China were somewhat dimmed when yesterday US President Trump said he would not meet with Chinese President Xi during his visit to Asia. President’s adviser Kudlow confirmed that between the parties […]
To open long positions on EURUSD you need: Euro buyers come to their senses after weak fundamental statistics were published throughout the week. At the moment, the task is to consolidate above the resistance of 1.1343, which may lead to an increase of the EUR/USD to the area of a high of 1.1368 with the […]
To open long positions on GBP/USD you need: Yesterday there was news that the political declaration may be amended regarding the timing of the UK exit from the EU, which led to the purchase of the pound. The statements of the head of the Bank of England also supported the pound. Currently, buyers need to […]
The euro is falling under negative pressure: 1. After February 15, a new shutdown in the US is possible. 2. Emergency talks Theresa May – the EU leadership did not give any trump cards to the hands of the British prime minister for an agreement with the EU through Parliament. The deadline for Britain’s withdrawal […]
Bitcoin Elliott Wave analysis for 08/02/2019: The market is trading just above the support, breakout lower is expected Market technical overview: The BTC/USD pair has made a new low at the level of $3,370 and then bounced towards the nearest technical resistance at the level of $34,22 to test the breakout from below. The wave […]
EUR/USD has reached our downside targets and is challenging the 78.6% Fibonacci retracement support. I continue to expect a bounce towards 1.1380-1.14 where we will see the strength of the bulls if it is enough to overcome bears. Red line – major resistance trend line Green rectangles – topping pattern repeating Black line – bounce […]
GBP / USD pair Yesterday, the British pound was trading in a solid range of 145 points, which confirmed the effectiveness of the price channel line on the daily chart as a high of the day. However, the upward trend has intensified. The Marlin oscillator signal line has moved to the growth zone on the […]
EUR / USD pair The euro continues to decline as part of our main scenario. On the daily and four-hour charts, the Marlin oscillator signal lines turned upward, indicating a correction. Growth is likely to take place in the range of 1.1375/95, defined as the resistance of the daily price channel line and the MACD […]
The downward movement became impulsive due to the fact that the pair overcame the distance equal to the weekly short-term. Any upward movement within the lower control zones will be considered corrective and will make it possible to achieve favorable prices for selling the instrument. It is important to note that the fall was stopped […]
Yesterday’s growth has led to the test of the first resistance of the NKZ 1/4 1.2958-1.2949. This makes it possible to consider the formation of the pattern in the direction of the continuation of the fall, since the main goal of the fall remains the weekly CC 1.2832-1.2793, which was not achieved. This model is […]
When the European market opens, some economic data will be released such as Italian Industrial Production m/m, French Prelim Private Payrolls q/q, French Prelim Private Payrolls q/q, and French Industrial Production m/m. The US will not publish any economic data today, so amid such conditions, the EUR/USD pair will move with a low to a […]
In Asia, Japan will release the Economy Watchers Sentiment, Average Cash Earnings y/y, Current Account, Bank Lending y/y, and Household Spending y/y, while the US will not publish any economic data today. So there is a probability the USD/JPY pair will move with a low to a medium volatility during this day. TODAY’S TECHNICAL LEVEL: […]
In Asia, Japan will release the Economy Watchers Sentiment, Average Cash Earnings y/y, Current Account, Bank Lending y/y, and Household Spending y/y, while the US will not publish any economic data today. So there is a probability the USD/JPY pair will move with a low to a medium volatility during this day. TODAY’S TECHNICAL LEVEL: […]
NZD/JPY is approaching our first support level at 73.45 (horizontal swing low support, 38.2% Fibonacci retracement, 100% Fibonacci extension, Elliot wave structure) where we expect a strong bounce above this level to our major resistance level at 74.01 (horizontal pullback resistance, 23.6% Fibonacci retracement). Stochastic (34,5,3) is also approaching support. NZD/JPY is nearing our first […]
The NZD/USD pair is approaching our first support level at 0.6707 (horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension, Elliot wave structure) where we expect a strong bounce above this level to our major resistance level at 0.6821 (horizontal pullback resistance, 50% Fibonacci retracement). Stochastic (55,5,3) is also approaching support. NZD/USD is nearing […]
For yesterday’s trading day, the currency pair Pound / Dollar showed a low volatility of 54 points. As a result, the quotation froze at a periodic level of 1.2920. From the point of view of technical analysis, we see stagnation with a pullback near the periodic level of 1.2920, where it was previously said that […]
