A few weeks ago, the European Commission released a report on GDP guidance for the coming year. The report said that the region’s economy will ease from a ten-year high of 2.4% in 2017 to 2.1% in 2018. In 2019 and 2020, the GDP will ease further to 1.9% and 1.7% respectively. The report said […]
ETHUSD has been strengthening its upside momentum over the last couple of days after the bounce off the 18-month low of 97.85. The price rose above the 20-simple moving average (SMA) and is approaching the 40-SMA in the 4-hour chart, while from the technical point of view the indicators are moving higher. The RSI indicator is moving […]
The three main events of the currency market on Tuesday are the breakdown of the euro mark of 1.13, the fall of the British pound to monthly lows and the continued attack of the dollar on the yen. Now, we need to take a closer look at the AUD / USD pair, for a number […]
The Bears are trying to return gold to the trading range of $ 1,185-1,215 per ounce, armed with market concerns about the escalating trade conflict between the US and China and the growing risks of hawkish rhetoric by Jerome Powell. Despite the fact that the derivatives market reduced the likelihood of three increases in the […]
To open long positions on the GBP / USD pair, you need: Pound buyers managed to get above the morning resistance level of 1.2773, which resulted in a small upward correction. However, the main goal is a large resistance level located slightly above yesterday’s high near 1.2833, where I recommend taking profits. In the case […]
To open long positions on EUR / USD pair, you need: The situation has not changed much compared to the morning forecast but the market is on the side of euro sellers. To change the situation, a breakthrough and fixation above the resistance of 1.1292 are needed, which will lead to a larger upward correction […]
GOLD PRICES held yesterday’s $10 drop on Wednesday, trading at $1214 per ounce against a strong US Dollar after Federal Reserve vice-chair Richard Clarida said his “base case” for 2019 sees a strong economy with a “robust” jobs market. Also seeing inflation around 2%, Clarida’s outlook would meet the Fed’s dual mandate for growth […]
The dollar continued to grow as expected for the fourth day in a row. Yet, another escalation of the trade conflict forces investors to seek asylum, although the speech of the Fed chairman can drastically change the course direction. The recent criticism of the Fed by US President Donald Trump has raised concerns that the […]
Despite weakly start, the US stock indices have increased by 0.3%-0.4% on Tuesday, showing signs of a rebound. The meeting of the leaders of the USA and China in the upcoming weekend has sparked a positive market sentiment. However, we believe that one should not heavily rely on this meeting’s outcome. None of the parties […]
Gold bears entered the market on Tuesday, driving the precious metal to two-week lows. The 50% Fibonacci retracement level of the upleg from 1,196 to 1,230, at 1213 is currently acting as a barrier to steeper declines on the four-hour chart. The MACD though warns that bearish actions may break this wall as the indicator seems to have already […]
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 AUD/USD pair continue to trade upwards from the level of 0.7225. This week, the pair rose from the level of 0.7225 to a top around 0.7299 but it rebounded to set around the spot of 0.7242. Today, the first resistance level is seen at 0.7299 followed by 0.7352, while daily support 1 is […]
Overview: The EUR/USD pair fell from the level of 1.1338 towards 1.1265. Now, the price is set at 1.1288. The resistance is seen at the level of 1.1338 and 1.1390. Moreover, the price area of 1.1390/1.1338 remains a significant resistance zone. Therefore, there is a possibility that the EUR/USD pair will move downside and the […]
EURNZD plunged after touching a three-year high of 1.7925 in early October, crossing below its 50- and 200-day simple moving averages (SMAs) to briefly touch 1.6550 – a low last seen in January. A decisive move below 1.6550 would mark a lower low on the daily chart, signaling a resumption of the downtrend. Short-term oscillators […]
EURCHF plunged to a new two-month low of 1.1266 after the aggressive sell-off below the 1.1300 handle on Tuesday. The near-term bias is looking negative with the RSI pointing down and is approaching the 30 level, while the MACD oscillator dived below the trigger line with strong momentum. Also, the 20- and 40-simple moving averages […]
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2770. According to the M30 time – frame, I found that GBP/USD is in an upward correction phase and that buying at this stage looks risky. I also found that price is still trading below the downward trendline, which suggests downward […]
From the powerful support zone since September 7, a flat wave model is formed upward. It has a reversal potential that can change the direction of the short-term trend of the pair. Wave pattern on the H1 chart: The downward stretch of the wave in the older TF at October 22 took the place of […]
Recently, the EUR/USD pair has been trading downwards. As I expected, the price tested the level of 1.1266. According to the H1 time – frame, I have found the potential end of the upward correction (contracted flat), which is a sign that buying looks risky. I have also found a short – term bearish trend, […]
Trading recommendations: According to the H1 time – frame, I found that BTC rejected from the supply zone at the price of $4.000. BTC is in short – term balance and I would like to see the breakout of the upward trerndline to confirm potential downward continuation. My advice is to watch for selling opportunities […]
Wave pattern on the H4 chart: The wave pattern formed on the pound chart from mid-August has become a correction for a larger trend. The wave develops mainly in the lateral plane. Most likely, its form will be the “pennant”. Wave pattern on the H1 chart: On October 30, the upward wave zigzag started. The […]
EURJPY has been trading within a consolidation area over the last couple of weeks, with upper boundary the 129.00 resistance barrier, and the 127.80 support level. Technically, in the 4-hour chart, the RSI indicator is moving slightly lower below the threshold of 50, and the ROC indicator slipped below the zero line, suggesting more losses in the […]
Besides the Italian budget story and Brexit, preliminary inflation readings out of the Eurozone are highly likely to spark volatility in the euro this week, affecting opinion about whether a rate hike by the European Central Bank is appropriate next year. The report is due on Friday at 1000 GMT, with investors estimating some weakness […]
Dollar flirts with 1½-year highs as Fed’s Clarida “sticks to script” on hikes; remarks by Fed Chair Powell today at 1700 GMT will be key Stocks briefly slip on rumors of car tariffs but recover on Kudlow’s optimism Pound remains under pressure as political uncertainty reigns Dollar firms after Clarida’s remarks, and amid whispers of […]
4h The EUR / USD is consolidated below the correction level of 100.0% – 1.1303. As a result, on November 28, the process of falling quotations can be continued in the direction of the next correction level of 127.2% – 1.1162. More so, there is a bullish divergence at the CCI indicator. Also, education will […]
Donald Trump, in an interview for the US newspaper, said he blamed the head of FED Jerome Powell for the problems of General Motors and the company’s decision to close some of the factories and mass redundancies. According to the American president, an increase in interest rates has hurt the economy. He also added that […]
4h The GBP / USD pair on the 4-hour chart continues the process of falling in the direction of the correctional level 100.0% – 1.2662. A bullish divergence near the MACD indicator is brewing on November 28. The formation of a bullish divergence will allow traders to expect a reversal in favor of the pound […]
EUR/USD has broken through the 1.1330 support area and is trading below 1.13. Price fell as low as 1.1277 where the critical support area was pointed out several days ago. Trend remains bearish and we continue to expect a move lower towards 1.12-1.11 as long as price is below 1.14-1.1420. Yellow rectangle – major short-term […]
Half of Sweden’s retailers predict that the country will stop accepting cash by the end of 2025, the New York Times reported. Sveriges Riksbank, the central bank of the country, is already testing a digital currency called the e-krona. Could the declining usage of cash in Sweden lead to a potent market for crypto? The […]
Gold price as we expected from our previous analysis is pulling back towards $1,210 and the 61.8% Fibonacci retracement level. This is our minimum expectations and price is following the path lower. Short-term trend is bearish as long as price is below $1,230. Blue rectangle- major resistance area Red rectangle – short-term major resistance Green […]
