Sellers are in control in the Gold market. We found a confirmed head and shoulders pattern and absorption of the buying climax in the background, which is a strong sign of weakness. The key resistance now became previous support at the price of $1.308.00-$1.309.00. We didn’t find any big sign of a price reversal, only […]
According to Janet Yellen, the former head of the Federal Reserve System (FRS) of the USA, the regulator can go on lowering the interest rate in the future if the weakening of economic growth all over the world affects the American economy. She believes that the weakening of global economic growth will affect the United […]
NZDUSD plummeted below the upward sloping channel during yesterday’s session, which had been holding over the last month, creating a fresh two-week low near 0.6743. Currently, the price is easing slightly to the upside around the 50.0% Fibonacci retracement level of the upleg from 0.6560 to 0.6940, around 0.6750, paring some of the previous sessions’ losses. Technically, the RSI indicator […]
GBP/JPY is approaching resistance at 146.02 (50%, 61.8% Fibonacci retracement, horizontal overlap resistance) where we expect price to drop to its support at 141.83 (50% Fibonacci retracement, horizontal pullback support). Stochastic (21, 5, 3) is approaching resistance. GBP/JPY is approaching its resistance where we expect to see a reversal. Sell below 146.02. Stop loss 148.39. […]
EUR/JPY is approaching our first support level at 124.36 (horizontal swing low support, 23.6%, 78.6% Fibonacci retracement, 100% Fibonacci extension) where we expect a strong bounce above this level to our major resistance level at 124.97 (38.2% Fibonacci retracement). Stochastic (89,5,3) is also approaching support. EUR/USD is approaching our first support where we are expecting […]
BoE may adopt a cautious tone today amid slowing economy, Brexit uncertainty Kiwi dollar collapses after soft jobs data ignite speculation for RBNZ rate cut Greenback capitalizes on weakness in other currencies; stocks stall BoE to strike cautious tone as Brexit uncertainty reigns The spotlight will fall on the Bank of England (BoE) today, which […]
Wave counting analysis: The trading on Wednesday, February 6, ended with another 40 bp decrease. Thus, the main scenario continues to be worked out, which involves building a downward wave 3 with targets located near the minimum of wave 1 and below. An unsuccessful attempt to break through the 23.6% Fibonacci level can lead to […]
Wave counting analysis: On February 6, the GBP / USD pair lost another 20 bp, so the current wave counting was fully preserved. It is still expected to build a downward wave 1 or a new downtrend trend. However, much depends on and will depend on the news background. Today, for example, Mark Carney’s press […]
Trend analysis (Fig. 1). On Thursday, the price before the news will move up in the side channel. The first upper target of 1.2968 is the rolling level of 14.6.% (Yellow dotted line). Moreover, the news will be more of a negative nature. Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – […]
On Thursday, the price may roll back up. The last three candles are black in color and grow in size, in candlestick analysis – strong upwards. The first upper target of 1.1381 is the rolling level of 14.6% (yellow dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels […]
EUR/USD has reached all our minimum downside targets. Price is more oversold now (in RSI terms) than when it was trading below 1.13. This is a bullish sign. Bears should take short-term profits as the chances of a bounce towards 1.14 or higher are high. Green rectangles – topping pattern repeating Yellow rectangle – oversold […]
Gold price has reached our short-term pull back target of $1,300 as expected from $1,320. This is where bulls need to react in order to keep the medium-term trend bullish. If Gold bulls want to see $1,350 they need to support the precious metal now and push prices higher. Purple lines – bullish channel Yellow […]
Trading plan for 07/02/2019: All eyes on GBP today. After Wednesday’s USD rise today in Asia, fluctuations are limited. The exception is NZD, which was precipitated by a disappointing report from the labor market. Fed President Jerome Powell answered questions at a meeting with lecturers in Washington. However, the global investors not received any interesting […]
To open long positions on GBP/USD you need: The current decision of the Bank of England will increase the pressure on the British pound, as forecasts for economic growth may be revised to the worse. Theresa May’s unsuccessful negotiations with EU representatives only aggravated the situation with the pound. Today, buyers need the next formation […]
Ethereum Elliott Wave analysis for 07/02/2019: New local low made during the downtrend resume, more to follow? Market technical overview: The ETH/USD market has made a new local low at the level of 98.49 after breaking below the support at 99.26. Despite this new low, the price bounced towards the technical resistance at the level […]
To open long positions on EURUSD you need: Weak statistics on the eurozone at the beginning of the week maintains pressure on the European currency. Several attempts to resume the upward correction in the euro yesterday were unsuccessful. At the moment, buyers need to return to the resistance level of 1.1369 and gain a foothold […]
Technical market overview: The GBP/USD pair has fallen towards the technical support at the level of 1.2924 and has tested this level twice already. Every time the bounce was small, but the persistence of bulls is making this level quite important, so a local pullback towards the level of 1.2978 or even 1.3000 before the […]
Technical analysis of EUR/USD for 07/02/2019: The pair is sinking deeper towards the key support zone Technical market overview: The EUR/USD market is still continuing its drop towards the key technical support zone located between the levels of 1.1324 – 1.1336. The market has made a candlestick formation called Three Soldiers two times in a […]
The EURUSD is under pressure for five trading sessions. However, there is no signal for a trend downwards. A possible reason for the pressure on the euro and the pound in recent days is the expectation of a new budget crisis (shutdown) in the US after February 15. Nevertheless, the euro is still in the […]
USD/JPY The Japanese yen is consolidating for the third day under the balance line indicator on the daily chart. Here there is a concentration of technical resistances: a high of January 18-25, in fact, the balance line on the daily, the Krusenstern line on H4. Good performance is expected tomorrow in Japan: household spending for […]
USDJPY has found a strong resistance obstacle around the 40-day simple moving average (SMA) over the last couple of days after the jump above the 50.0% Fibonacci retracement level of the downleg from the 11-month high of 114.55 and the 10-month low of 104.64, around 109.60. Currently, the pair is in a bullish correction mode […]
GBP/USD On Wednesday, the British pound fell by only 16 points, as investors were constrained by waiting for the outcome of today’s meeting of the Bank of England. According to the general opinion of consulting agencies, no changes in BOE policy will occur. On the daily chart, the Marlin oscillator signal line is fixed in […]
EUR/USD On Wednesday, the volume of industrial orders in Germany in December showed a decrease of 1.6% instead of the expected growth of 0.3%, and the US trade balance for November showed an improvement from -55.7 billion dollars to -49.3 billion. As a result, as we expected, the euro easily broke the support of the […]
When the European market opens, some economic data will be released such as French 10-y Bond Auction, EU Economic Forecasts, Italian Retail Sales m/m, ECB Economic Bulletin, French Trade Balance, and German Industrial Production m/m. The US will also publish the economic data such as Consumer Credit m/m, 30-y Bond Auction, Natural Gas Storage, and […]
In Asia, Japan will release the Leading Indicators, 30-y Bond Auction and the US will also publish some economic data such as Consumer Credit m/m, 30-y Bond Auction, Natural Gas Storage, and Unemployment Claims. So there is a probability the USD/JPY pair will move with a low to a medium volatility during this day. TODAY’S […]
Morning Report: 07.00 London The dollar index is building on Wednesday’s surge, with further gains causing dollar pairs to plunge. The AUD/USD sunk to just above 0.7100, with follow on selling taking the pair below that marker this morning. Lowe’s warnings of lower rates to come are continuing to have an impact. The AUD/JPY also […]
The pound against the dollar was not expected to remain within the 30th figure, although the downward dynamics also did not get its continuation. Traders still maintain some optimism about Brexit, and this fact holds restrains the GBP/USD from an avalanche-like decline. Tomorrow may trigger additional volatility for the pair, as the pound will react […]
4-hour timeframe The amplitude of the last 5 days (high-low): 90p – 62p – 72p – 74p – 128p. Average amplitude for the last 5 days: 85p (88p). The British pound sterling, having completed the second support level of 1.2942, rebounded from it and began a weak upward correction. Yesterday’s decline was very noticeable, so […]
4-hour timeframe The amplitude of the last 5 days (high-low): 96p – 78p – 54p – 37p – 40p. Average amplitude for the last 5 days: 61p (61p). The European currency paired with the US currency continues its downward movement with low volatility. Over the past two days, this figure did not exceed the value […]
Weak demand from abroad unexpectedly reduced the volume of industrial orders in Germany, this is another sign that exporters in Europe’s largest economy are suffering from a slowdown in the global economy and growth in the number of trade barriers. Contracts for goods produced in Germany declined by 1.6% in December, the overall decline was […]
