Overview: The GBP/USD pair will continue rising from the level of 1.3048 today. So, the support is found at the level of 1.3048, which represents the pivot point in the H1 time frame. Since the trend is above the pivoti level, the market is still in an uptrend. Therefore, the GBP/USD pair is continuing with […]
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 significant bearish rejection was demonstrated around 1.2999 (Bearish Engulfing candlestick […]
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 […]
Bitcoin continues to drop as expected. It respects the Pitchfork downward channel nicely and it is doing good job towards the median. Since the key support cluster at $3.420 is broken and successfully retested, we expect downward continuation. I also found the successful breakout of the mini upward Pitchfork channel, which is another sign of […]
Early on Wednesday at 0030 GMT, the Australian Bureau of Statistics will publish inflation numbers for the fourth quarter of 2018. Forecasts are for another soft outcome of 1.7% year-on-year from 1.9% from the previous quarter. On a quarterly basis, the pace of consumer price increases is predicted to remain the same at 0.4% as before. […]
Since June 2018, the EUR/USD pair has been moving sideways with a slight bearish tendency within the depicted bearish Channel (In RED). On November 13, the EUR/USD pair 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 […]
Gold continues to rally as expected. It respects the Pitchfork upward channel nicely and it is doing good job towards the median line of the larger channel. Since the key resistance is broken at $1,298.00, we don’t see any big resistance around and any signs of a reversal. R1: $1,305.70 R2: $1,308.60 R3: $1,312.75 Pivot: […]
In recent months, the focus on the price of soybeans has revolved around tariffs and the ongoing trade war. Investors believe that the ongoing trade war will reduce the imports of soybeans from the United States. Indeed, the amount of soybeans in storage the US has increased as imports from its biggest customer have reduced. […]
South Africa is the second largest economy in Africa with a GDP of more than $349 billion. It is second after Nigeria, which has a GDP of more than $375 billion. The country’s GDP per capita is about $6,100 compared to Nigeria’s $1,600. The country’s economy is mostly based on agriculture, mining, finance, and trade. […]
Wave counting analysis: On Monday, January 28, trading ended for EUR / USD by another 25 bp increase. Thus, the expected wave 2 in the composition of the supposedly new downward trend section continues its construction. An unsuccessful attempt to break through the level of 38.2% on the older grid, or 61.8% on the youngest, […]
West Texas Intermediate (WTI) futures have declined beneath the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, indicating possible negative retracement. Momentum signals are bearish as well, as the red Tenkan-sen line, which is below the blue Kijun-sen line, looks to be heading south, while the RSI has reversed lower, holding beneath its 50 neutral mark. Also, the […]
GBPJPY started the week on a softer note after hitting a seven-week high at 144.82 on Friday. The technical picture predicts now that a sideways move could follow in the short-term as the RSI moves down to meet its 50 neutral mark, whereas the MACD continues to gain strength in positive territory and above its red signal line. Should traders […]
Risk appetite stays fragile as key companies sound the alarm on Chinese growth In the UK, it may be a deciding day for Brexit as lawmakers vote on various plans Earnings season continues in full throttle today, little on economic calendar Corporate warnings on China rattle stocks, drag oil lower US equity markets closed in […]
Wave counting analysis: On January 28, the GBP / USD pair dropped by 30 bps. and the current wave counting again has not suffered any changes or additions. Tonight, in the British Parliament, a second vote on the issue of Brexit was held. The pound sterling in recent weeks did not pay any attention to […]
The market is waiting for the main events of the week: voting in the British Parliament on the agreement with the EU today, January 29, (will vote for different versions of the agreement to try to find a majority position. On Wednesday – the Federal Reserve decision on rates. No one expects the Fed to […]
Trading plan for 29/01/2019: A quiet day in the financial markets ahead On Tuesday there is a relative nervousness in the markets, which prevents from delineating a particular direction. Sentiment spoiled the allegations presented to the financial director of Huawei by the US, which may complicate the US-China trade negotiations. Stock markets in Asia are […]
Gold price continues to trade above $1,300 after breaking short-term resistance and is heading towards our $1,315-20 target area. Trend remains bullish. Green rectangles – support levels Red lines – bullish channel Gold price has made a new higher high as expected after breaking above $1,292. Support is now at $1,300 and resistance at $1,315-20 […]
GBPUSD had been in a flying mode on Friday, reaching a fresh three-and-a-half month high around 1.3217, before slipping lower again on Monday towards the immediate support of the 38.2% Fibonacci retracement level of the downleg from 1.4375 to 1.2390, near 1.3145. Despite the latest setback, the pair holds above that area, signaling more gains. […]
The market on Monday, moving down, did not reach the rolling level of 14.6% – 1.3109 (blue dashed line). Moreover, the price on Tuesday, most likely, will continue to move down. Strong calendar news today is expected at 18.00 (negative) Moscow time. Today, it is also expected to make a vote in the British Parliament […]
To open long positions on GBP/USD you need: Today there will be another vote on Brexit in the British Parliament, which can support the British pound on the condition that there is a possible agreement on postponing the exit date from the EU. A breakthrough of the resistance of 1.3186 will be a signal to […]
EUR/USD has been trading above 1.14 at the start of the week and so far the bullish follow through we were expecting has been confirmed. However price is now challenging important short-term Fibonacci resistance that is crucial for the continuation of this upward move that started last week from below 1.13. Green rectangle – major […]
On Tuesday, the price will move up. The first upper target of 1.1464 is the recoiling level of 61.8% (blue dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – up; – volumes – down; – candlestick analysis – up; – trend analysis – down; – Bollinger lines […]
To open long positions on EURUSD you need: Yesterday, Mario Draghi once again drew attention to the uncertainty of future economic growth, which limits the upward potential of the euro. Today, it is best to consider long positions after the formation of a false breakdown in the support area of 1.1422 or to rebound from […]
After hitting the technical support at the level of 1.1289 the price made a V-shape reversal (with a help of the ECB interest rate decision) and six green candles were made towards the technical resistance at the level of 1.1414. The market has hit broke through the resistance and went even higher, towards the 50% […]
Ethereum Elliott Wave analysis for 29/01/2019: The projected target zone has been hit, bounce expected now The ETH/USD pair has just hit the projected target zone at the level of 100.15 (the actual low was made at 99.21), so the wave A of the correction might be considered done. The market should now bounce towards […]
Morning Report: 07.00 London The British pound is maintaining its moderate sell-off as Tory division and the realism of Theresa May’s revised plans cause the week’s previous Brexit confidence to wane. The GBP/USD is down only slightly, but this comes amid a morning of general strength for dollar pairs. Similarly, the GBP/JPY is unchanged while […]
EUR/USD By this morning, investors came up in an aggressive mood to meet a vote in the British Parliament on amendments to the Brexit bill. Probably, any improvements will be accepted, therefore, the growth of counter dollar currencies, albeit local, is possible. The euro has already comfortably settled over the Krusenstern trend line on the […]
GBP/USD In anticipation of any news from the British Parliament, and today there will be a vote on a number of bills regarding Brexit, the pound has slightly moved away from Monday’s high, turning the Marlin oscillator on both charts into a strong downward movement. The general trend, however, continues to increase. The nearest signal […]
AUD/USD On Monday, the Australian dollar met strong resistance in the form of Krusenstern lines on the H4 and daily. Australia had a holiday the previous day, but probably, even with their presence, the situation would be similar, as today the Australian indices are in the negative zone. The price on both charts is higher […]
The CAD/CHF pair is approaching its support at 0.7441 (100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.7515 (horizontal swing high resistance). Stochastic (55, 5, 3) is nearing its support at 5.2% where a corresponding bounce could occur. CAD/CHF is approaching its support where […]
