This week, a number of things happened in the markets. This article will highlight a few of those issues. Deutsche Bank Deutsche bank is the biggest bank in Germany. In the past few years, the bank has experienced a number of issues, including large fines from the US, huge scandals, and reduced profitability. Yesterday, authorities […]
GBPJPY has been developing within an upward sloping channel over the last couple weeks, following the bounce off the 144.00 support level. Moreover, in the daily chart the pair remains in a consolidation area over the last three months with upper boundary the 149.50 resistance and lower boundary the 142.75 support. Looking at the short-term […]
AUD / USD pair The Australian dollar took advantage of the favorable situation, finding that the bear investors were busy fighting the energetic buyers of the euro and the pound and overcame the resistance of the upper boundary of the price channel. Over the past two days, there was an increase of 94 points. The […]
The Trump-Xi meeting is due tomorrow; whether a “ceasefire” is agreed may determine the near-term direction of the dollar and equities Market reaction to FOMC minutes was muted. Attention turns to a speech by NY Fed President Williams today at 1400 GMT Oil rebounds after posting fresh one-year lows, eyes next week’s OPEC meeting Trump […]
Overnight the markets went into a flat drift in anticipation of the outcome of the Trump / Xi meeting at the G20 summit. The currency market the USD stays close to the minima achieved after dovish comments by the Fed’s chief on Wednesday. The stock market makes modest profits. EUR / USD spent the night […]
During the Thursday session, the global investors got to know minutes from the Federal Open Market Committee meeting (FOMC) after their meeting on November 8, during which no decision was made to raise interest rates. Representatives of the Committee are convinced that this will take place “relatively quickly”, so for the market, it means December […]
The Amazon technological giant launches the Blockchain service, which is to help clients develop Blockchain networks without incurring the costs of creating their own platform. Announced at the Amazon Re: Invent, Amazon Managed Blockchain is a fully managed service that facilitates the creation and management of scalable Blockchain networks. Users can build platforms using Hyperledger […]
Asian shares wavered on Friday as investors were on edge before a crucial weekend meeting between the Chinese and U.S. presidents that could determine the course of a heated trade war over the next year. MSCI’s broadest index of Asia-Pacific shares outside Japan wobbled between positive and negative territory in early trade, as more evidence […]
Although longer-term trend remains bearish, short-term strength in EUR/USD will challenge the medium and long-term trend. Price is challenging important resistance at 1.14-1.1470 that if broken would push prices above 1.1530-1.1550. Red line -trend line resistance Green line- trend line support Black dots – resistance Red dots – major resistance level EUR/USD is challenging the […]
Gold price reached the recent highs around $1,230 again yesterday but was unable to break above resistance yet. Price is now pulling back once again confirming the importance of the short-term resistance area at $1,230. Blue rectangle- major resistance area Red rectangle – important short-term resistance Green line – major trend line support Gold price […]
We continue to look for a final dip closer to 1.6478 to complete wave v/ and iii. This final dip should set the stage for a corrective rally in wave iv towards 1.6706 before the final decline in wave v towards 1.6235. This should complete the first impulsive decline from 1.7929 and set the stage […]
Under our new preferred count we should now be in wave c of D higher towards resistance in the 130.89 – 130.99 area. Ideally the final decline in wave E will start from here, but it’s possible that wave c of D extends higher to 131.89 before tuning lower in wave E. We now see […]
USDCAD returned some of the gains that posted on November 28, completing a five-month high around 1.3360. The pair has been trading in an ascending movement over the last almost two months, but in case of a penetration of the trend line it could move lower in the near term. Also, when looking at the bigger picture the pair has a […]
When the European market opens, some economic data will be released such as Unemployment Rate, Core CPI Flash Estimate y/y, Italian Prelim CPI m/m, CPI Flash Estimate y/y, Italian Monthly Unemployment Rate, French Prelim CPI m/m, German Retail Sales m/m, and German Import Prices m/m. The US will also publish the economic data such as […]
In Asia, Japan will release the Housing Starts y/y, Consumer Confidence, Prelim Industrial Production m/m, Unemployment Rate, and Tokyo Core CPI y/y. The US will also publish some economic data such as Chicago PMI. So there is a probability that the USD/JPY pair will move with a low to a medium volatility during this day. […]
On Thursday, November 29, the US stock markets came under strong pressure before the start of the G-20 summit and the publication of the minutes of the Fed meeting. As of 17:48 London time, the Dow Industrial Index fell by 145.37 points or 0.57%, the index of the largest US companies S & P 500 […]
A barrel of Brent crude oil overcame a psychologically important mark, dropping below $ 60. WTI crude oil also could not resist above $ 50. Today, the price has decreased to $ 49.8 per barrel. The last time the oil market was at these levels over a year ago, in October 2017. True, then the […]
Within the past 24 hours, the crypto market has added $19 billion to its valuation as the price of Bitcoin (BTC) surged to $4,300. After dropping to the low $3,000 region, Bitcoin engaged in an unexpected price rally, rising by more than 15 percent on a single day. The newly established momentum of Bitcoin allowed […]
Today, the price of oil has updated at least October 25, 2017, falling to a level of $ 57.78 per barrel. The price of WTI oil dropped to $ 49.75 a barrel for the first time since October 10, 2017. The driver of such a strong fall was the data on the growth of stocks […]
Bullion is currently testing the upper bound of a triangle pattern, with the latest leg higher fueled by a drop in the dollar after Fed chief Powell struck a cautious-perceived tone. Several risk events lie ahead, including the FOMC minutes, the Trump-Xi meeting, and potential US tariffs on cars; the way these play out may […]
Sugar rising inside short-term wave 2 Further gains are likely Sugar continues to rise inside the short-term corrective wave 2, which started earlier from the support area lying between the support level 12.50, lower daily Bollinger Band and the 38.2% Fibonacci correction level of the previous upward impulse wave C from September. The active short-term […]
GBPAUD broke key support level 1.7500 Further losses are likely GBPAUD today broke below the key support level 1.7500 (which stopped the previous impulse wave (i) earlier this month and also at the end of August, as can be seen below). The breakout of the support level 1.7500 continues the active short-term impulse wave C […]
GOLD PRICES held onto last night’s $15 jump Thursday afternoon in London, more than erasing this week’s prior 1.0% loss after Federal Reserve chairman Jerome Powell hinted that the US central bank may be about to finish its interest-rate rises. Trading at $1228 per ounce, gold was outpaced by silver – up 0.6% for […]
Brent crude oil futures with delivery in January 2019 tumbled to a new 13-month low of 57.48 earlier today, but quickly pared the losses. The price is set to complete the seventh straight negative week, while the technical indicators continue to hold in bearish zones. The MACD oscillator is strengthening its negative bias, while the RSI […]
AUDCAD staged a strong rebound after falling to 0.9104 in early October, this being its lowest since July 2010. Earlier on Thursday, it touched a four-month high of 0.9748. The positively aligned Tenkan and Kijun-sen lines, as well as the rising RSI, are attesting to the bullish short-term bias that is in place. The RSI […]
On September 21, the GBP/USD failed to demonstrate sufficient bullish momentum above 1.3296. Since then, the short-term outlook turned to become bearish under the depicted daily downtrend. 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 the […]
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. Recent bearish movement is maintained within the depicted daily movement channel. On November 13, the EUR/USD demonstrated […]
Overview: The USD/CAD pair continues to move upwards from the level of 1.3216. Yesterday, the pair rose from the level of 1.3216 (the level of 1.3216 coincides with a ratio of 38.2% Fibonacci retracement) to a top around 1.3358 but it rebounbed towards the price of 1.3292. Today, the first resistance level is seen at […]
Overview: The USD/CHF pair keeps 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, Gold has been trading upwards. The price tested the level of $1,226.00. According to the M15 time – frame, I have fond that price got trouble to trade above yesterday’s high at the price of $1,226.00, which is a sign that demand is weak. My advice is to watch for a potential breakout of […]
