Wave counting analysis: On Monday trading, February 4, it ended with a slight decline for the EUR/USD pair by 15 bp. Thus, the current wave counting maintains its integrity and implies the construction of a downward wave 3 within the framework of a new downtrend trend. If the current version is not correct but an […]
Large scale graphics: On the daily scale of the major franc chart, the last wave is ascending. Its countdown began in February last year. The structure is fully completed the first 2 parts (A + B). In the last part, the preparation for the final price spurt is completed. Medium scale graphics: In the ascending […]
AUDUSD erased some gains after it touched the 200-day simple moving average (MA) last week, but the uptrend started in early January is still intact, with the 20-day MA suggesting that the positive tendency may hold in place as the line managed to jump back above the 50-day MA early this month. In momentum indicators, the MACD is […]
4-hour timeframe Technical details The senior linear regression channel: direction – up. The younger linear regression channel: direction – up. Moving average (20; smoothed) – down. CCI: -117.6714 The currency pair GBP / USD on Tuesday, February 5, has fixed below the moving average line and continues not a too strong downward movement. Meanwhile, the […]
4-hour timeframe Technical details: The senior linear regression channel: direction – up. The junior linear regression channel: direction – down. Moving average (20; smoothed) – sideways. CCI: -118.4254 On the second trading day, the currency pair EUR / USD continues to decline weakly and has reached a moving average line. The further dynamics of the […]
The American dollar stopped its growth, which was formed yesterday in the first half of the day against the European currency after the release of a number of weak fundamental statistics for the eurozone. However, the decline in the EUR / USD pair stopped after a similar series of weak data on the US economy, […]
To open long positions on the GBP / USD pair, you need: Buyers of the British pound are not yet available in the market, however, a strong bearish correction is also not observed. The main task for the first half of the day will be the return and consolidation above the resistance of 1.3042, which […]
Stocks climb while haven assets tumble, without any fresh catalyst Aussie outperforms after RBA wasn’t as dovish as markets expected Today, services PMIs from both the UK and US will dictate the action Stocks advance, yen crumbles as “no news is good news” Global risk appetite returned on Monday, in the absence of any material […]
To open long positions on EUR / USD pair, you need: Although the euro is declining, the bearish momentum is very weak. In the first half of the day, buyers need to return to the resistance level of 1.1448, only above of which the demand for EUR / USD will increase. Then, this will lead […]
Trend analysis (Fig. 1). On Tuesday, the price will try to continue moving down. To do this, it will have to overcome the recoil level of 23.6% – 1.3034 (blue dashed line), which is unlikely. From this level, an upper movement is possible. Fig. 1 (daily schedule). Comprehensive analysis: – Indicator analysis – down; – […]
Trend analysis (Fig. 1). On Tuesday, the price will continue to move down. The first lower target of 1.1429 is the recoiling level of 38.2% (blue dashed line). Then the top is possible. Fig. 1 (daily schedule). Comprehensive analysis: – Indicator analysis – up; – Fibonacci levels – down; – Volumes – up; – Candlestick […]
4h The currency pair EUR / USD, after rebounding from the correctional level of 50.0% – 1.1517, performed consolidation below the Fibo level of 38.2% – 1.1446 and continues the process of falling in the direction of the level of 23.6% – 1.1358. Overlapping divergences on February 5th are not observed in any indicator. Fixing […]
GBPUSD closed in the red after six consecutive weekly increases which led the pair above the 200-day moving average (MA) for the first time since May and towards three-month highs. The pair started lower this week as well, with the falling RSI signalling that the downside may continue, although as long as the indicator holds above 50, chances for […]
4h The currency pair GBP / USD on a 4-hour chart rebounded from the Fibo level of 76.4% – 1.3094 with a turn in favor of the American dollar. As a result, February 5 continues to fall in the direction of the correction level of 61.8% – 1.2969. Rebounding the pair from the Fibo level […]
EUR/USD made no progress yesterday as price moved in a narrow trading range holding above 1.14 support and below 1.15 resistance. Short-term support is being challenged at 1.1430 and this might be a sign of weakness implying a move towards 1.1360 is possible over the coming sessions. Green rectangles – topping pattern with overbought RSI […]
Trading plan for 05/02/2019: On Tuesday, the 5th of February, the event calendar is light in important data releases, but the global investors should keep an eye on the PMI Services and Composite PMI being released from Germany, France, Spain, Italy, the UK, and the Eurozone itself. During the US session, the only interesting data […]
Morning Report: 07.00 London The dollar index is on the back foot this morning as US markets show concern over tech giant Alphabet’s (Google) rising costs. Dollar pairs are generally higher, but the start of the morning is the AUD/USD which is rallying strongly despite the RBA hinting that rates will be kept on hold […]
Gold price after topping at $1,326 has made a 15$ pull back and is now trying to bounce higher once again. Although technically trend remains bullish, I prefer to be neutral Gold at current levels as I expect this pull back to at least go towards $1,300. Gold price is above both the tenkan- and […]
Bitcoin Elliott Wave analysis for 05/02/2019: The market trading range is getting more narrow, breakout soon? Market technical overview: The BTC/USD market is still developing the horizontal wave progression and the price range is now, even more, narrower as the range has decreased to $122 only (from $3,422 to $3,544). This lack of volatility might […]
Technical analysis of USD/CAD for 05/02/2019: The key Fibonacci retracement is violated and the bounces are shallow so far Market technical overview: The USD/CAD pair is continuing its way down. The 61% Fibonacci retracement at the level of 1.3119 has been broken and the price has made a new local low at the level of […]
Technical analysis of GBP/USD for 05/02/2019: The technical support is broken, more downside is expected Market technical overview: The GBP/USD pair has broken below the key technical support zone located between the levels of 1.3042 – 1.3055 and has made a new local low at the level of 1.3025. This low has been also made […]
Increasingly, there are fears that in the next five years, the global network may be divided into two Internet, Chinese and American. The head of the Chinese AI-company Sinovation Ventures Kai-Fu Lee said that the likelihood of such a scenario is quite high. There is such a thing as a Spline Internet (from the English. […]
4-hour timeframe The amplitude of the last 5 days (high-low): 73p – 144p – 90p – 62p – 72p. Average amplitude for the last 5 days: 88p (106p). On Monday, February 4, the GBP / USD currency pair continues the weakest downward movement, and we still expect a stronger decline from the pair. Although in […]
4-hour timeframe The amplitude of the last 5 days (high-low): 54p – 39p – 96p – 78p – 54p. Average amplitude for the last 5 days: 64p (77p). As we expected, the first trading day of the week remains for the US currency. Strong macroeconomic statistics, published on Friday, in particular, NonFarm Payrolls and the […]
The pound against the dollar gradually slips from the level of the annual maximum (1.3216) to the base of the 30th figure. And although the southern dynamics is cautious in nature, the tension among traders is increasing day by day, given the rhetoric of top European countries regarding the prospects for Brexit. It is noteworthy […]
According to the US Department of Labor, unemployment in the country increased from 3.9% in December to 4% in January. At the same time, the number of new jobs in non-agricultural sectors of the economy increased by 304 thousand, which exceeded analysts’ forecasts by almost 2 times. Experts expected the first indicator to remain at […]
According to a number of experts, investment in gold will remain relevant in 2019 due to increased volatility and uncertainty in global financial markets. “We believe that the current year should be favorable for gold, as investors are still interested in defensive assets,” said Standard Chartered Bank specialists. “We expect that during the year the […]
Following the Fed, the RBA comes next in line to decide on monetary policy. The first meeting of 2019 at 0330 GMT on Tuesday is expected to extend the historic period of inaction to 29 months, though with the Fed, the world’s most influential central bank, shifting outlook to neutral, speculation is swirling that Australia’s central may appear more […]
According to the report of the oil service company Baker Hughes, for the period from January 28 to February 1, US energy companies reduced the number of oil drilling rigs by 15 units, to 847 wells, the minimum in the last eight months. Oil companies began to cut costs due to forecasts of a decrease […]
The head of the Federal Reserve Bank of Minneapolis, Neel Kashkari, believes that the pause of the American regulator in the process of raising interest rates will allow the country’s economy to continue to grow. The official stressed that the US economy has the potential for growth, and a premature tightening of monetary policy can […]
