What traders will remember from January? This is probably due to the fact that long positions on USD / CHF brought 1.5%, on USD / SEK, 2.6%, and “shorts” on EUR / NOK, over 2%. Sales of the single European currency against the greenback before the ECB meeting also justified themselves, but expectations about easing […]
To open long positions on the GBP / USD pair, you need: The situation has not changed in comparison with the morning forecast. British pound buyers may resume an uptrend but this will require a breakdown of the resistance at 1.3135. Only after the prospect of updating the highs of 1.3214 and 1.3260 will open, […]
To open long positions on EUR / USD pair, you need: Amid weak fundamental statistics for the eurozone, euro buyers were expected to return to the market only after the test of the support level of 1.1471, which I talked about in more detail in my morning review. At the moment, the main task is […]
After the Fed promised to be careful with further increases in interest rates, the dollar weakened while the Australian dollar responded with an increase in this statement. The Fed left interest rates unchanged and abandoned its promises of “further gradual increases” in interest rates as expected. The dollar fell to a three-week low against other […]
USD/CHF has been correcting and consolidating at the edge of 0.9950 area for a few days in a row from where a break above the area is expected to lead to further bullish momentum. Yesterday FOMC meeting ended with the dovish policy update. The US central bank maintained the Federal Funds rate unchanged, thus leaving […]
CENTRAL BANKS choosing to buy gold in 2018 saved the metal from its worst year for global demand since the economic crash of 2009, new data showed Thursday. Gold prices meantime extended their New Year 2019 surge after the US Federal Reserve held its key interest rate unchanged. Promising to remain “patient” on […]
General Electric stock price is trying to complete the eighth consecutive green week after the bounce off the 6.70 support level. The aggressive bearish rally started after the pullback on the 33.00 resistance level, driving the price towards the 6.70 low in the previous month. Moreover, the price is holding within the narrow Bollinger band in […]
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 […]
AUD / USD pair The Australian dollar is unstoppable. Taking advantage of the temporary weakness of the US dollar and similarly temporary and weak growth in commodity markets due to the political crisis in Venezuela), the “Australian” went above the upper limit of the lowering price channel. On both scales, the trend is clearly increasing […]
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 17 when a bearish Engulfing candlestick was demonstrated around 1.2999 (around the […]
“The Bank of Japan can use various tools or their combinations to expand incentives, if necessary, but it will take into account the side effects of prolonged policy easing,” said CB Governor Masayoshi Amamiya. Masayoshi reminded investors that the Bank of Japan would consider increasing cash support only if the movement towards achieving the 2 […]
R1: 1.3156 R2: 1.3197 R3: 1.3248 Pivot: 1.3105 S1: 1.3065 S2: 1.3013 S3: 1.2970 Trading recommendation: We closed half of the position at the first target 1.3151 but second half of the positions is still active with the target at 1.3211 (weekly high). Stop loss on second half of the position is moved on breakeven. […]
Overview: The USD/CHF pair faced resistance at the level of 1.0031, while minor resistance is seen at 0.9987. Support is found at the levels of 0.9884 and 0.9819. Also, it should be noted that a daily pivot point has already set at the level of 0.9939. Equally important, the USD/CHF pair is still moving around […]
Overview: The USD/CAD pair continues to move downwards from the level of 1.3178. Yesterday, the pair dropped from the level of 1.3178 to the bottom around 1.3117. But the pair has rebounded from the bottom of 1.3117 to close at 1.3139. Today, the first support level is seen at 1.3117, the price is moving in […]
Gold continues to rally as expected. Our bullish positions looks very stable and we expect the test of the $1.340.00 (major target). Buyers are in total control and doing a good job towards the median Pitchfork line ($1.340.00) of the larger channel. According to the daily chart, Gold is making higher highs and higher lows […]
This year, the Swiss franc has been weakening against the USD. This happened as a number of reports raised queries about the strength of the Swiss economy. Earlier in the year, it emerged that the Swiss National Bank (SNB) had made a huge loss after the blockbuster performance in 2017. It blamed this on the […]
Yesterday, the Federal Reserve concluded its two-day meeting and released the interest rates decision. As expected, the bank left interest rates unchanged and announced that it was taking a pause on more hikes. The officials blamed this on the tepid inflation rate, the uncertainties about the global growth, and the uncertainties about trade. This sent […]
Copper is often viewed as the barometer for the global economy. This is simply because of the role the metal plays in the world. Because of its conduction characteristics, the metal is used in the manufacture of electronics. It is also used in the utility industry. Therefore, if the world economy expands, it means that […]
EURJPY has been steadily rising this week to reach a one-month high of 125.45 on Wednesday, but the RSI has yet to show strong momentum above its 50 neutral mark for the market to pick up steam. The Ichimoku indicators back this view as well since the red Tenkan-sen and the blue Kijun-sen lines appear to be flattening. Yet, […]
NZDUSD continues to rise above the 50.0% Fibonacci retracement level of the downward movement from 0.7390 to 0.6423, around 0.6910, remaining inside a bullishly aligned channel, stretching its upward pattern to a fresh seven-week high of 0.6923. According to the MACD, positive momentum could push for further gains in the short-term as the indicator picks up steam […]
Bitcoin has been trading downwards. The price tested the level of $3.390. Our bearish view from yesterday is still active. Since the key support cluster at $3.420 is broken and successfully retested, we expect downward continuation. I also found a successful breakout of the mini upward Pitchfork channel, which is another sign of underlying weakness. […]
Fed removes guidance for more hikes; dollar crumbles, stocks soar Trade talks conclude today – any signs of progress crucial for markets Eurozone releases GDP data, risks seem skewed to the downside Dollar drops, stocks soar as Fed folds on further rate hikes While the Fed kept rates unchanged as expected yesterday, the meeting wasn’t […]
Wave counting analysis: The trading on Wednesday, January 30, ended with a 50 bp rise. Thus, the estimated wave 2 in the composition of the new downtrend of the trend took too long. The rise of the pair was associated with too soft statements by the Fed in the covering letter. Now the whole wave […]
Wave counting analysis: On January 30, the GBP / USD pair rose by 50 bp, presumably completing the construction of wave 4, as part of the future 3 uptrend trend. If the current wave counting is correct, then the increase in quotations will continue within wave 5 with targets located near the Fibonacci 127.2% level. […]
On Thursday, after touching the cloud consisting of the resistance line 1.1507 (red bold line) and the sliding level 76.4% – 1.1505 (yellow dashed line), the price will move down. The first lower target of 1.1478 is the rolling level of 14.6% (blue dashed line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – […]
USDJPY has been underperforming since yesterday, breaking back below the 50.0% Fibonacci retracement level of the downleg from 114.55 to 104.64, around 109.60 and the 20-simple moving average (SMA) in the daily chart. The price recorded a fresh two-week low of 108.68. Momentum indicators are pointing to a negative bias in the short term with […]
Trading plan for 31/01/2019: Dovish surprises in the FOMC decision bring the weakness in USD and rally in the stock market The dollar loses after the publication of the FOMC statement. The market is focused on three new elements: the Fed has removed the mention of gradual interest rate increases. In its place appeared a […]
Trend analysis (Fig. 1). On Thursday, there is a work down from the first lower target 1.3042 – a rolling level of 23.6% (blue dashed line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – down; – candlestick analysis – down; – trend analysis – […]
Morning Report: 07.00 London The US dollar index is on the back foot after the FOMC posted a cautious stance yesterday. The dollar pairs are on the front foot, led by the AUD/USD which is building on yesterday’s solid rally which took the pair above 0.7250. The EUR/USD is climbing for the fifth straight day […]
We would like to inform our clients that due to Lunar New Year and Washington’s Birthday, both of which take place in February, the trading hours of various instruments will be affected between 4 and 18 February 2019. Please view the tables below to see which instruments will be affected and how: Instrument 04/02 05-07/02 […]
