The ongoing volatility in the world’s stock market has led to an opening in safe havens. Bonds have risen as traders move to safety. The same is true with gold, Swiss Franc, the US dollar, and the Japanese Yen. In the past week, gold has had six consecutive days of gains. As this has happened, […]
CADJPY is paring some of yesterday’s negative ground but remains slightly below the medium-term ascending trend line. Also, the price recorded a two-month low of 84.57 earlier today. From the technical point of view, the MACD oscillator suggests that the market could maintain the bearish movement near the zero line, however, the RSI indicator is moving higher below the […]
To open long positions on the GBP / USD pair, you need: The bears did not allow the pound buyers to break through the resistance level of 1.2816, which I talked about in more detail in my morning review. At the moment, the challenge is still breaking through 1.2816, which will open a direct road […]
To open long positions on EUR / USD pair, you need: Euro buyers were not allowed above the resistance of 1.1409 to which I paid attention in my morning forecast, which led to a decrease in the pair. The upward potential was limited due to the fact that the European Commission recommended today that the […]
GOLD PRICES rose near 2-week highs above $1225 in London trade Wednesday, adding $5 per ounce as the US Dollar slipped against other major currencies and European stock markets rallied from the latest slump in global equities. White House advisor Kevin Hassett said overnight the US may push for China to be expelled from […]
A total of $60 billion has been erased from the value of all cryptocurrencies over the last week, a decline that has many wondering if the ongoing bear market for the asset class has finally come to an end. Defined as a period of depressed activity and sentiment, the bear market has seen the price […]
The intense downtrend of the crypto market is finally having a toll on the best performing digital asset of the month. Ripple (XRP), now the second most valuable cryptocurrency in the market, is no longer up in value on a monthly basis. Throughout the past 30 days, XRP has maintained the $0.5 level relatively well […]
Netflix’s stock price registered a fresh nine-month low near 255.00 on Tuesday after the 50- and 200-simple moving averages posted a death cross in the aftermath of significant losses in the stock. Technically, the stock is looking bearish in the short term. Attesting to this, the RSI has been declining overall towards the oversold zone, while the MACD oscillator dropped […]
On the weekly chart, the EUR/USD pair is demonstrating a high-probability Head and Shoulders reversal pattern where the right shoulder is currently in progress. On the Daily chart, the pair has been moving sideways with slight bearish tendency. A recent bearish movement is maintained within the depicted daily movement channel. On November 13, the EUR/USD […]
On September 21, the GBP/USD failed to demonstrate sufficient bullish momentum above 1.3296. The short-term outlook turned to become bearish to test the backside of the broken uptrend. On H4 chart, the GBP/USD pair looked oversold around the price levels of 1.2700 where profitable BUY entries were suggested. A Quick bullish movement was demonstrated towards […]
Oil is already in a bear market, but now a fresh, negative pattern is crystallizing in the commodity that has absolutely bludgeoned bulls over the past two months. January West Texas Intermediate crude CLF9, +2.04% on its first full session as the front-month contract, was down a whopping 7.5%, to $52.91 a barrel on the […]
EURCHF has slipped back below its 50-day moving average (MA), touching a two-month low of 1.1303 earlier today. The near-term bias is looking bearish again with the MACD histogram returning to negative territory and falling below its signal line, while the stochastics are declining sharply. Further declines would likely drive the pair towards the nearest […]
Wave pattern on the H4 chart: The wave relevant for this scale has completed the downward trend of the daily TF. Wave pattern on the H1 chart: The high level of the bullish wave that began on September 7 makes it possible to wait for a gradual transition of the entire movement by 2 orders […]
Trading recommendations: According to the H1 time – frame, I found that BTC is trading in the upward correction phase, which is sign that buying looks risky. The trend is still bearish and my advice is to watch for potential breakout of the bearish flag to confirm further downward continuation. The next downward target is […]
Overview: The USD/CHF pair continues to trade upwards from the level of 0.9951 on the H4 chart. Today, the first support level is currently seen at 0.9951, the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 0.9951, which coincides with the […]
Recently, the EUR/USD pair has been trading sideways at the price of 1.1393. According to the H1 time – frame, I found that upward correction is in progress, which is a sign that buying looks risky. My advice is to watch for a potential breakout of the bearish flag to confirm further downward continuation. The […]
AUDNZD declined considerably from early October’s peak of 1.0992 to eventually hit a seven-month low of 1.0588 on Tuesday. It is currently trading not far above the aforementioned trough. Attesting to the bearish short-term bias are the negatively aligned Tenkan- and Kijun-sen lines. Notice though that the two appear to have halted their declines, which […]
Overview: The GBP/USD pair dropped sharply from the level of 1.2890 towards 1.2780. Now, the price is set at 1.2780. On the H1 chart, the resistance is seen at the levels of 1.2890 and 1.3001. Volatility is very high for that the GBP/USD pair is still expected to be moving between 1.2829 and 1.2725 in […]
Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2776. According to the H1 time – frame, I found a potential end of the upward correction in the background (expanded flat), which is a sign that buying looks risky. Most recently, I have found the breakout of the intraday bearish […]
The dollar has too many advantages, both current and future, for growth. The market has long taken them into account. At the same time, the problems of the huge trade deficits of the United States with the rest of the world, the political division of the country remained. In addition, the desire to bet on […]
Wave counting analysis:During the November 20 trading session, the GBP / USD currency pair lost about 70 basis points, but still leaves no hope of building an ascending wave c. As part of this supposed wave, waves 1 and 2 can already be traced. Thus, if the current wave counting is correct, then the rise […]
Assets that have shown great performance last year, have again went through another strong decline. Yesterday, Nikkei fell by 2.2%, back to 7-month lows. On Tuesday, DJI had lost more than 2%, subsequent to the decline of the shares of the energy sector, throwing the index back to October’s lows. It seems that for the […]
The European Central Bank will publish the account of its October 25 monetary policy meeting on Thursday at 12:30 GMT. With the Eurozone economy stuck in the doldrums, investors will be watching for any hint of misgivings by Governing Council members about the bank’s policy normalization plans. In the meantime, though, the euro has managed […]
EURJPY is pushing aggressively higher, paring Tuesday’s losses above the 20- and 40- simple moving averages in the 4-hour chart. Moreover, the price has been trading within the 23.6% Fibonacci retracement level and the 38.2% Fibonacci mark of the downleg from 133.10 to 126.60, between 128.15 and 129.10 over the last week. Technically, the MACD oscillator is […]
Wave counting analysis:In the course of trading on Tuesday, the EUR / USD currency pair lost about 80 basis points, so the expected wave 1 in the future first new upward trend segment is completed. If this is true, then now, the pair is in the process of building the proposed wave 2, which can […]
Here are the latest developments in global markets: FOREX: The dollar index is slightly lower on Wednesday (-0.17%), giving back some of the significant gains it recorded in the previous session as investors sought the safety of the world’s reserve currency. The loonie was the biggest underperformer, weighed down by another plunge in oil prices. Meanwhile, […]
As expected the EUR/USD pair has reversed from 1.1450-1.15 back below 1.14. This is a bearish sign. However short-term trend remains bullish and will only change on a daily close below 1.1350. Blue line – important support trend line Black dots – medium strength resistance Dark blue dots -maximum strength support EUR/USD tried to break […]
The British pound can quickly fall to the level of 1.10 US dollars if the United Kingdom leaves the European Union without an agreement. The pound sterling will suffer greatly if the likelihood that the transaction is not confirmed in December or January, and is not approved by the Prime Minister Theresa May or the […]
Gold price made a higher high yesterday at $1,228.40 exactly at the 78.6% Fibonacci retracement and got rejected. Price has pulled back towards $1,220 and the RSI is showing bearish divergence signs. Red rectangle – major resistance area Blue lines – bearish divergence Green line – trend line support Gold price is trading at important […]
Wave pattern graphics H 4: The algorithm of the short-term trend of the price of the pound major is set by the upward wave of August 15. In a larger design, it will become a correction. Wave pattern graphics H1: The rising wave of October 30 in the wave of the older TF has become […]
