The dollar was significantly affected by the words of the Fed Chairman on Wednesday. The dollar index has dropped by 0.9%, in response to Powell’s comments that the Federal funds rate is “just below” the neutral level. These words were perceived as dovish compared to what the Fed Chairman commented in early October. The weakening […]
The US 30 index has been heading sharply higher over the previous three days, finding strong support on the rising trend line. The price successfully surpassed the 200-simple moving average (SMA) in the daily timeframe and the momentum indicators are endorsing the bullish view. The MACD oscillator turned higher above its signal line, while the %K line of the stochastic […]
Trading recommendations: According to the H1 time – frame, I found that BTC has been trading upwards. The price tested the level of $4.296. I also found that strong resistance at the price of $4.070 now became the support, which is sign that selling looks risky and that buyers are in control. My advice is […]
As long as trading continues above intermediate support 1.2829, demand for the pound will continue, and the formation of a false breakout at this level will be an additional signal to open long positions in order to break through and consolidate above the 1.2878 maximum. The main goal of the bulls will be the level […]
Wave counting analysis: During the November 28 trading session, the GBP / USD pair rose by 80 bp, and the unsuccessful attempt to break through the minimum of the alleged wave b of the corrective set of waves leaves all the same hope for the tool to build an upward wave C with targets located […]
Fed Chairman dropped the dollar. On late Wednesday evening, Fed Chairman Jerome Powell said that the current dollar rate is only “slightly below” the equilibrium level. This means that the Fed is very close to the goal of raising rates – and may stop with increases for a long period – and it is possible […]
Nasdaq — the world’s second-largest stock exchange — plans to roll out bitcoin futures in the first quarter of 2019 through a partnership with investment management firm VanEck. Gabor Gurbacs, VanEck’s director of digital asset strategy, said the companies will launch a variety of bitcoin derivatives in early-2019, including a “regulated crypto 2.0 futures-type contract.” […]
In the past week, the price of Bitcoin and other cryptocurrencies has dropped sharply. The chart below shows the performance of the biggest cryptocurrencies. In the drop, the total market capitalization of crypto declined by more than $100 billion. Today, the combined market value of cryptocurrencies stands at more than $136 billion. This is an […]
Japan will see the release of a raft of economic data, including updated inflation figures for Tokyo, on Thursday at 2130 GMT. The numbers are expected to confirm inflationary pressures remain tepid, and that any policy shift from the BoJ remains a long way off. As such, they are unlikely to impact the yen much, […]
The Canadian dollar has slid about 4% since the beginning of October on the back of the sell-off in crude oil – Canada’s biggest export earner. The currency’s weakness comes despite a mostly solid run of economic indicators out of Canada in recent months, which has allowed the Bank of Canada to pursue a monetary […]
NZDUSD advanced strongly yesterday, driving the market towards a fresh five-month high around 0.6885. Currently, the pair holds slightly below this peak, but the 20- and 40-simple moving averages are confirming the upside momentum as they recorded a bullish crossover in the 4-hour chart. Moreover, the RSI indicator is moving higher, approaching the overbought zone and the MACD oscillator is […]
Wave counting analysis: During the Wednesday trading, the EUR / USD pair gained about 75 bp. Thus, the pair still remains within the framework of building a new upward trend section. The expected wave 2 is considered complete despite its fairly long appearance and its minimum will be an important point to support the uptrend […]
On Thursday, the upward movement will continue with the goal of 1.2897 – a rolling back level of 38.2% (yellow dotted line). The first intermediate upper target is 1.2873 – 21 medium EMA (black thin line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – top; – volumes – […]
On Thursday, the 29th of November, the event of the day is FOMC Meeting Minutes release later during the evening, but before this will happen there are other important data scheduled for release from Germany (Unemployment Change and Unemployment Rate), France (GDP), UK (Net Lending) and Eurozone (Financial Stability Report). SP500 analysis for 29/11/2018: The […]
USD/CHF has been quite impulsive with bearish moves after being rejected off the 0.9980-1.00 resistance area. Amid downbeat economic data from the US, USD struggled to sustain the bullish momentum, while CHF gained without any positive economic reports. Amid universal expectations of the rate hike by the US Federal Reserve in December, USD has been […]
For some it’s a blessing, for others it spells trouble ahead, but one way or another, the oil price drop will have an effect on emerging markets. After hitting a nearly four-year high above $86 a barrel in early October, Brent crude, LCOF9, -0.17% dropped like a stone, trading temporarily below $60 per barrel, as […]
Dollar drops as Powell appears “dovish”. However, markets may have overreacted, hence today’s Fed minutes (1900 GMT) could be crucial Equities and commodity-linked currencies lifted by Powell’s remarks Pound capitalizes on dollar’s pullback and signs voters may support May’s deal Dollar drops as Powell appears “cautious”, but Fed minutes crucial Fed Chair Powell’s speech yesterday […]
Chinese official PMI data for November are due on Friday at 0100 GMT. Aussie traders will be eyeing the numbers given Australia’s China-dependency, which has rendered the currency a liquid proxy for Chinese “plays”. More pivotal for the Aussie though is likely to be the outcome of the Trump-Xi weekend meeting on trade at the G20 summit. The manufacturing PMI, which […]
Trend analysis (Fig. 1). On Thursday, it is possible to continue the upward movement, with the first target of 1.1393, the sliding level of 61.8% (yellow dotted line). From this level, you can try to work down, but it will be a sliding job (high risk). But in general, the upward trend will continue. Fig. […]
President Trump is not happy with how the Fed’s policy is run by Chairman Powell, whom he himself appointed and now regrets. What seems more important, however, is the justification of his opinion. Well, Trump “has a hunch” that sometimes tells him more than the “minds” of others. It is difficult to argue with this […]
The current situation in the crypto markets The current bear markets are “golden time” for possession of cryptocurrencies – said today co-founder of Fundstrat Global Advisors, Tom Lee, during a speech at BlockShow Asia 2018. He listed three main reasons for the recent market crash: Bitcoin Cash’s hard-fork dispute, regulatory action by the US Securities […]
With the break below 1.6676 it was confirmed that wave iv/ completed early and a new low below 1.6539 closer to 1.6478 should be expected in the short term. This is exactly what we have seen. A new low below 1.6539, but not yet a test of 1.6478, but we expect to see a final […]
EUR/USD bounced strongly yesterday breaking short-term resistance levels and putting bulls back in the game. However neither bulls nor bears are in control of the trend. As long as price is trading between 1.1410 and 1.1270 trend will be neutral. Red line – resistance trend line Green line – support trend line EUR/USD is challenging […]
FED remarks of a pause in its rate hikes lifted the EUR and also lifted EUR/JPY past our pivot point at 129.00, which invalidated our bearish count. So we have been back to the drawing board to review the possible options and it looks more and more likely, that wave [E] itself is developing into […]
Gold price bounced strongly yesterday respecting the 61.8% Fibonacci retracement level we noted yesterday. Still with no clear medium-term trend, Gold is still below major resistance levels that if broken upwards could provide a strong bullish signal for a move towards $1,250-60. Bears need to break below yesterday lows in order to regain control of […]
AUD/JPY has been quite impulsive with bullish gains recently which is expected to lead the price higher towards 83.50-84.50 resistance area in the coming days. A better-than-expected employment report helped AUD to gain and sustain bullish momentum while JPY is struggling due to a slowdown in Japan’s economy and mixed economic reports. Recently Auatralia’s Construction […]
Morning Report: 07.00 London The dollar index remains subdued after a shock speech from FOMC chair Powell which proclaimed that rates were now in neutral territory (i.e. rates may not have further to go). Previously markets had been pricing in further rate hikes, resulting in dollar weakness as traders reign in their rate hike bets. […]
USDJPY has been facing selling interest since yesterday, diving slightly below the 20-day simple moving average (SMA) after it reached again the 114.00 psychological level. The pair still remains above the long-term ascending trend line, however, the technical indicators turned lower. The RSI is pointing south in bullish zone, while the blue %K line of the stochastic oscillator posted […]
4h The EUR / USD pair reversed in favor of the European currency and closed above the Fib level 100.0% – 1.1303.As a result, on November 29, the growth process can be continued in the direction of the next correctional level of 76.4% – 1.1423.. More so, rebounding the course of the pair from the […]
On Wednesday, the markets got what they had so longed for all the time – as it seems to them, a hint that the Fed will reduce the number of interest rate increases next year, and their overall level will be less than expected. In his speech, the head of the Federal Reserve, J. Powell, […]
