Despite the continued uncertainty around Brexit, the “shutdown” in the United States and the prospect of slowing down the process of raising the Fed’s interest rate, the gold exchange rate has not yet been able to overcome the $1,300 mark. Against the background of the emergence of contradictory news regarding these events, gold market participants […]
The pound has entered again the zone of uncertainty on the eve of the most important negotiations between London and Brussels and the subsequent vote in the House of Commons. For two and a half years from the moment of the historic referendum, the British currency has repeatedly experienced strong volatility, which as a rule, […]
Johnson & Johnson stock price has been squeezed within the Bollinger bands over the last couple of weeks in the daily timeframe, failing to pare some of the losses that were posted in mid-December. From the technical point of view, the indicators seem to be flat. The RSI is standing below 50 level with weak momentum, while the ROC […]
The US 30 index staged a major recovery in recent weeks, after touching an 18-month low on December 26. Price action is now taking place back above the 50-day simple moving average (SMA), which suggests the near-term outlook has shifted back to neutral, from negative previously. Further advances in the index could encounter immediate resistance […]
Overview: The NZD/USD pair breached resistance which had turned into strong support at the level of 0.6705 this week. The level of 0.6705 coincides with a golden ratio (61.8% of Fibonacci), which is expected to act as major support today. The RSI is considered to be overbought, because it is above 70. The RSI is […]
Bitcoin managed to climb higher above the dynamic level resistance of Kumo Cloud, Tenkan, Kijun, and 20 EMA resistance recently. The price is currently heading towards the 200 EMA resistance at $3,700 area. If is broken above, further bullish pressure towards $4,000 is expected in the coming days. Bitcoin is still quite volatile, trading inside […]
Trend analysis (Fig. 1). On Friday, work down from the first lower target of 1.2925 is a rolling level of 14.6% (yellow dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – down; – candlestick analysis – down; – trend analysis – up; – […]
The big picture: The market is determined by the direction. Until the end of January, the market should determine the direction to the beginning of the year. There are too many uncertainties as government ” Shutdown” in the USA continues which is strongly negative. The situation with Brexit has become even more confusing, after two […]
GBPJPY has been advancing considerably for three days in a row, reaching a fresh one-month high of 142.20 during yesterday’s trading session. The price jumped above the strong obstacle of the 50.0% Fibonacci of 141 of the downleg from 149.50 to 132.50, while it also surpassed the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. Technically, the RSI indicator is trying […]
Trend analysis (Fig. 1). On Friday, the price will move up. The first upper target of 1.1418 is the recoiling level of 23.6% (yellow dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis – up; – trend analysis – […]
Wave counting analysis: On January 17, the GBP / USD pair gained about 105 bp. The amplitude of the instrument has again grown to its usual values. However, an unsuccessful attempt to break through the level of 76.4% may lead not only to the departure of quotations from the reached maximums but also to the […]
On Thursday, January 17, trading ended for EUR / USD by a decrease of as little as 5 bp. Thus, the uptrend trend, taking its beginning on November 12, takes an ambiguous and complex look, but retains the prospects for its development. The whole wave takes the form of a diagonal triangle. Reducing the pair […]
GBPJPY has been advancing considerably for three days in a row, reaching a fresh one-month high of 142.20 during yesterday’s trading session. The price jumped above the strong obstacle of the 50.0% Fibonacci of 141 of the downleg from 149.50 to 132.50, while it also surpassed the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. Technically, the RSI indicator is trying […]
Stocks advance, safe-havens tumble on reports US could roll back China tariffs In the UK, sterling surges without Brexit news; sentiment is improving Today, Canadian inflation figures and Fed speakers may steal the show Stocks jump, yen softens on reports US may lift China tariffs Risk appetite firmed during the late US session on Thursday, […]
GBP / USD pair The British pound continues to grow on the optimism of the new “improved” agreement with the EU. Readiness to review the agreement was announced yesterday by EU negotiator, Michel Barnier. The sterling pound added 105 points. Growth started from supporting the MACD line on the daily chart. Growth may continue the […]
Trading plan for 18/01/2019: There was a rather calm session in Asia, although the risk might increase after some publication of reports of possible abolition of import duties imposed by the US on China. At the currency market, the USD / JPY jumped to 109.40, AUD and NZD rebounded from some of the weaknesses from […]
Morning Report: 07.00 London Markets are quiet this morning as traders pause for breath following yesterday’s moves. The British pound remains in a strong position, with the GBP/USD sitting just below 1.3000 following Thursday’s sizeable rally. The GBP/JPY is higher for the fifth day out of six, while the EUR/GBP continues to slump after euro […]
USDCAD has been struggling below the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3663, around 1.3285 over the last seven days, following the bearish rally from the 19-month high of 1.3663. The price also remains below the simple moving averages (SMAs) which are turning lower, signaling a bearish crossover in the near future. Looking […]
EUR/USD remains in a short-term bearish trend inside a downward sloping channel. Price has stopped its decline around the 61.8% Fibonacci retracement level of the last leg upwards from 1.13 to 1.1570. Green line – major trend line support Purple lines – bearish channel EUR/USD is struggling to hold around 1.14. Short-term trend remains bearish […]
Gold price continues to trade inside the triangle pattern. In our previous posts, we have mentioned the price levels we should keep in focus and both the upside and downside targets depending on the direction of the break out. Green rectangles – support areas Purple lines – bullish channel Black lines – triangle pattern My […]
To open long positions on GBP/USD you need: The pound strengthened after yesterday’s proposal by a member of Parliament to block the current Brexit deal, which will automatically lead to a postponement of the UK exit from the EU and relieve tensions in this matter. Today, it would be best to consider new purchases of […]
After a series of Bearish Engulfing candlestick patterns at the level of 1.1539 and 1.1570 that established the downtrend, the market has made the Bearish Harami around the level of 1.1483 and went down again to stop around the level of 1.1371. This move down has terminated at the technical support zone between the levels […]
To open long positions on EURUSD you need: The euro fell yesterday against the background of weak data for the euro area and a good report on the US labor market. Today, you can take a closer look at purchases when forming a false breakdown at the level of 1.1375, however, it should be taken […]
EUR / USD pair On Thursday, the euro consolidated below the price channel line of the daily chart on the background of a neutral economic and political situation, helped by the indicator line of balance. The Marlin indicator s is still developing in the negative zone on the daily and H4 chart but there is […]
Ethereum Elliott Wave analysis for 18/01/2019: The triangle pattern in wave 4 continues, more downside in view Technical market overview: The three wave advance to the level of 156.91 has been completed at January 5th and since then the market has started an impulsive decline that reached the level of support at 108.46. The decline […]
The prospects for the euro from the point of view of the foundation are vague. On the one hand, it is not clear how the market will perceive a new round of uncertainty around Brexit – it would seem that the approach to Britain’s exit from the EU without an agreement is unprofitable for both […]
Following a vote of no confidence, Theresa May retained her post as British Prime Minister. On Monday, January 21, she will present the so-called plan “B” for Brexit, which should arrange parliamentarians. The pound is in conditions of high volatility and uncertainty, there are rumors in the markets that the exit date from the European […]
If the dollar rises in price to European currencies, it decreases in relation to the Japanese yen. Moreover, this weakness cannot be called a temporary phenomenon. According to the head of the North American currency strategy department in TD Securities Mark McCormick, a mark of 95 yen per dollar may well become a reality very […]
Concerns about China’s dismal economic outlook and possible US tariffs on European cars led the euro to a decline, while the end of the next chapter in the Brexit saga gave a moment of peace to the pound. Fresh European news was weak and local markets followed the lead of Asia and pushed major indices […]
China’s economy is expected to continue to slow down this year particularly on domestic demand and exports affected by US tariffs. Beijing will most likely have to deploy additional incentive measures. According to forecasts, China’s economic growth will slow to 6.3 percent this year and will be the weakest in 29 years. A significant slowdown […]
