Gold’s rally got some extra fuel early on Wednesday, with the price jumping to an 8 ½ -month high of 1,315. In the technical picture, the MACD seems to be resuming upside momentum above its red signal line, a positive sign that the bulls may continue to drive the market even if downside corrections cannot be […]
Fed decides; Powell’s remarks on the balance sheet may be crucial Pound slides as Brexit uncertainty seems set to remain elevated US-China trade talks commence; plethora of earnings and data also due FOMC meeting – emphasis on Powell’s balance sheet remarks The main event today will be the Fed policy decision at 1900 GMT, which […]
Gold price has reached my $1,315 target and we could see a small move higher towards $1,320 as well. However this is not the time to be greedy. Bulls should either take their profits or protect them with tight stops. Price has reached the upper channel boundary. Although we could see a throw off top, […]
EURGBP had one of its best trading sessions for this year over the last couple of days, following the bounce off the 20-month trough of 0.8616. Also, the pair jumped above the 23.6% Fibonacci retracement level of the downleg from 0.9110 to 0.8616 around 0.8730. However, the price is still lacking direction in the medium term […]
Bitcoin Elliott Wave analysis for 30/01/2019: Local low was made, time for a bounce higher? Technical market overview: The BTC/USD pair has made a local low at the level of $3, 385 and bounced a little towards the local technical resistance at the level of $3,495. If the bulls want to move higher in order […]
Technical outlook: We have presented a 4H chart view for Gold since $1,235 lows, to have a bigger picture. It is quite clear that Gold has been in a religious uptrend since it made a major swing low at $1,160 earlier. It has rallied through $1,315/16 levels at this point in writing and may hit […]
Ethereum Elliott Wave analysis for 30/01/2019: Wave progression is unfolding as planned, upward bounce expected. Technical market overview: The ETH/USD pair has hit the target at the level of 100.15 as expected and currently, the market is trying to bounce upwards towards the technical resistance at the level of 108.45. The nearest intraday technical resistance […]
Technical outlook: We have again presented the hourly chart for a short-term outlook on the US Dollar Index. As seen here, the US Dollar Index broke below the trend line support on Friday and also took out initial price support at 96.05 levels. The entire drop from 96.68 to 95.62 levels can now be considered […]
Support at 143.40 gave away for a dip to the key support at 142.69, which has protected the downside and is expected to continue to do so. The corrective decline to 142.69 has been followed by a possible hidden divergence. This normally indicates a powerful rally will follow once the corrective decline is complete. A […]
EUR/JPY barely as moved the last couple of days, but it should just be a matter of time, before resistance at 125.23 is conquered and the next impulsive rally higher towards 132.12 is unfolding. Support is seen at in the 124.58 – 124.72 area and will ideally be able to protect the downside for the […]
Technical outlook: We have presented an hourly chart for EUR/USD to have a short-term outlook of potential price action. As seen here, after last weeks rally, EUR/USD seems to be stalling around 1.1440/50 levels. Please also note that initial resistance was taken out at 1.1390/1.1400 levels earlier. Giving the edge to bullish setup for now, […]
Morning Report: 07.00 London The US dollar is on the back foot this morning ahead of this evening’s FOMC meeting. Markets are expecting no change, but traders will be alert for any hints of future direction. The AUD/USD is one of the top performers, rallying following the release of inflation data that came in above […]
When the European market opens, some economic data will be released such as German 10-y Bond Auction, Italian 10-y Bond Auction, French Consumer Spending m/m, German Prelim CPI m/m, German Import Prices m/m, German GfK Consumer Climate, and French Flash GDP q/q. The US will also publish the economic data such as Federal Funds Rate, […]
When the European market opens, some economic data will be released such as German 10-y Bond Auction, Italian 10-y Bond Auction, French Consumer Spending m/m, German Prelim CPI m/m, German Import Prices m/m, German GfK Consumer Climate, and French Flash GDP q/q. The US will also publish the economic data such as Federal Funds Rate, […]
In Asia, Japan will release the Consumer Confidence, and Retail Sales y/y. The US will also publish some economic data such as Federal Funds Rate, Crude Oil Inventories, Pending Home Sales m/m, and ADP Non-Farm Employment Change. So there is a probability the USD/JPY pair will move with a medium to a high volatility during […]
The currency pair Euro / Dollar for the last trading day showed low volatility, but still maintaining an upward mood. From the point of view of technical analysis, we see how the quote reached the range level of 1.1440 (1.1420 / 1.1460), where it slowed down. Informational and news background had a speech by Mario […]
For the last trading day, the currency pair Pound / Dollar showed a low volatility of 73 points, as a result of forming a clump and pullback. From the point of view of technical analysis, we have a pulse train, where the quotation reached the level of 1.3200, after which there was a stagnation followed […]
Tomorrow is an important day for the dollar: we will learn not only the data on the growth of the US economy, but also listen to the head of the Federal Reserve, who will sum up the January meeting of the central bank. This year, Jerome Powell will hold press conferences after each meeting (rather […]
4-hour timeframe The amplitude of the last 5 days (high-low): 119p – 138p – 82p – 159p – 73p. Average amplitude for the last 5 days: 114p (115p). On Tuesday, January 29, the GBP/USD pair is trying to resume an upward movement, although the MACD upward indicator has not yet managed to turn around. In […]
4-hour timeframe The amplitude of the last 5 days (high-low): 38p – 43p – 101p – 117p – 54p. Average amplitude for the last 5 days: 71p (67p). The second trading day of the week for the EUR/USD currency pair ended with the preservation of the upward trend, but the volatility fell again after just […]
The Fed is widely expected to keep policy unchanged when it announces its decision on Wednesday, at 1900 GMT. Even though there won’t be any updated forecasts this time, Chair Powell will hold a press conference after the event, and any market reaction will likely come from his remarks. In light of rate hikes being […]
Eurozone’s initial GDP growth estimates for the fourth quarter could put the euro in a vulnerable position when they come out on Thursday at 1000 GMT as forecasters see the economy drying up before the start of an uncertain year. A day after, flash CPI figures for the month of January could add further pressure to the […]
Euro made an attempt to grow in the first half of the day amid a good report on consumer confidence in France. However, there was no support from the major players, which led to a decrease in the trading instrument closer to the North American session. According to the statistics agency report, consumer confidence index […]
The cost of shares of the largest manufacturer of graphics accelerators and processors of NVIDIA Corporation fell by more than 13% to $ 138 amid lower forecasts for reporting for the fourth quarter of 2018. The company lowered its quarterly revenue forecast from $ 2.7 billion to $ 2.2 billion due to weaker than analysts […]
Hot on the heels of its profit warning, Tesla Inc on Wednesday will publish its earnings results for the fourth quarter and full year 2018. After a record third quarter when sales surged, the company is expected to report smaller quarterly profits, despite higher deliveries, as costs soar and profit margins narrow. Tesla is expected […]
The euro boosts attractiveness, taking advantage of the expectations of the Fed’s “pigeon” rhetoric, hopes for progress in the trade negotiations between Washington and Beijing. The comments of Mario Draghi, who convinced the market that the economic affairs in the European block are not as bad as it seems at first glance, came to the […]
Last week, for the first time since May 2018, the price of gold overcame the level of $ 1,300 per ounce and is still above this psychological level. “The uncertainty surrounding Brexit, the “shutdown” in the US, trade wars are only part of the problems by which the price of gold should have shown much […]
Facebook stock price rebounded on the two-year low of 123.30, registered on December 21. Currently, the price holds above the 50-day simple moving average and the 23.6% Fibonacci retracement level of the downleg from 218.44 to 123.30, around 145.74. The stochastic is detecting upside momentum as the %K line posted a bullish crossover with the […]
China’s manufacturing sector activity in January was likely to shrink for the second month in a row, heightening concerns about the risks associated with a slowdown in China and a threat to the global economy. Industrial leader Caterpillar has become another major international company that warned of declining demand in China, followed by chip makers […]
Aggressive cuts in Saudi Arabia and US sanctions against Venezuela could allow the North Sea variety to show better dynamics in January from 2006, and Texas from 1984. From the point of view of the monthly increase, Brent’s achievements could be the most impressive since December 2016, when OPEC enlisted the support of other countries […]
