GBPJPY is declining considerably today, diving below the 40-simple moving average (SMA) in the 4-hour chart. In the very short-term the price seems to be strongly negative, while in the daily chart the pair remains in a consolidation area over the last three months with upper boundary the 149.30 resistance and lower boundary the 142.70 […]
Euro and Pound had risen after the draft declaration between the UK and the European Commission. Market reaction seems very moderate, as it is not the end of the negotiations on Brexit. However, there is a good chance for the currencies to turn towards growth in the long run. The outgoing year can be called […]
Canada’s latest inflation and retail sales figures will hit the markets on Friday at 1330 GMT. Investors appear rather confident the BoC will raise rates again in January, and an overall strong set of prints could solidify such expectations further, perhaps helping the battered loonie to recover some lost ground. That said, until oil prices […]
Here are the latest developments in global markets: FOREX: The dollar is nearly 0.3% lower against a basket of six major currencies on Friday, looking set to post a third day of declines in a row, without any fresh catalyst behind these moves. Meanwhile, the British pound soared on Thursday, buoyed by news that EU and […]
Recently, Gold has been trading sideways at the price of $1,224.00. Anyway, according to the H4 time – frame, I have found a bearish breakout of the 24-hour balance, which is a sign that sellers are in control. I also found the rejection of the upper Keltner band and hidden bearish divergence on the RSI […]
Wave pattern graphics H4: It can be used for the short wavelength of the pair. The structure of the wave of the final part. Wave pattern graphics H1: The downward stretch of September 21 Wave pattern graphics M15: From October 26, the TF. This will make it possible to move on to even larger scale […]
Morning Report: 07.00 London This morning, the dollar index continues to slide as risk appetite returns to global markets as risk appetite returns during the Thanksgiving lull. The EUR/USD is on the front foot, bidding higher for the third day in a row. By contrast, the GBP/USD is slipping back as some of yesterday’s Brexit […]
USDCAD has been trading in an ascending movement over the last one-and-a-half 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 clear upside trend after its rebound on the 1.2060 support level. Momentum indicators in the daily timeframe, are too […]
The currency market, fluctuations of main currencies against USD do not exceed 0.15%. EUR / USD is at 1.1410, USD / JPY at 112.90, and GBP / USD at 1.2870. The Chinese stock market suffers from fears of slowing growth as a result of trade wars and Shanghai Composite falls by 2.3%. In Japan, the […]
We are still looking for a clear break above minor resistance at 1.6767 for a continuation of the ongoing correction towards at least 1.6914 and likely even closer to resistance at 1.7023. Only an unexpected break below support at 1.6683 and more importantly a break below support at 1.6560 will indicate that wave iv/ completed […]
Another range-trading day. Likely due to the US Thanksgiving holiday and today only being half a work day. So we do not expect much action to be seen before the start of next week. We continue to favor the bearish outcome and a break below support at 127.94 for a decline towards 123.66 to complete […]
The Chinese Deputy Minister of Trade said that the country is looking for a way to find a common language with the United States. He noted that the desire to engage in talks also exists on the US side. He hopes that meeting Xi and Trump during the G20 gathering will go smoothly next weekend. […]
US President Donald Trump thanked Wednesday Saudi Arabia for lowering oil prices, comparing this decision to a “big tax reduction” for his country and the world, but at the same time called Riyad to an even greater reduction in fuel prices: “Oil prices are falling even more. Great! For the United States, it’s like a […]
EUR/USD continues to trade above critical short-term support. The potential for a move towards 1.15 is still there. As long as we trade above 1.1380-1.1360, it is highly likely. Longer-term trend remains bearish targeting 1.10-1.08. Yellow rectangle – resistance Green rectangle – major support Red rectangle- short-term support Blue line – trend line support EUR/USD […]
To open long positions for GBP/USD, it is required: Yesterday, the pound rose sharply and returned to the resistance area of 1.2880 after news appeared that negotiators from the UK and from the EU agreed on the text of a declaration on the future relationship between the United Kingdom and the European Union. Despite this, […]
To open long positions for EURUSD, it is required: As long as trade is conducted above the support level of 1.1382, the demand for the euro will remain. The formation of a false breakdown in this area will lead to an increase in the EUR/USD, and the main task will be a breakthrough and consolidation […]
EUR/USD The euro slowly but persistently breaks the main scenario, which implies a price decline to 1.1190 and further towards 1.1110. Of course, to grow in price, a lot needs to be done – on the daily chart, three resistance lines can be overcome, the top of which – the Krusenstern line – is at […]
GBP / USD The British pound jumped 100 points yesterday due to the publication of materials in the media about reaching an agreement on a free trade area and the approval of the EU-UK political declaration. We regard this market reaction as short-term. The reason for the growth was formal since these agreements were registered […]
USD / JPY The Japanese yen is consolidating on the ascending line of the price channel for the third day. To date, the balance line and the Krusenstern line of the daily timeframe have become supports. These will help the price to overcome the resistance of the Krusenstern line on the lower four-hour scale. Overcoming […]
When the European market opens, some economic data will be released such as Belgian NBB Business Climate, Flash Services PMI, Flash Manufacturing PMI, German Flash Services PMI, German Flash Manufacturing PMI, French Flash Services PMI, French Flash Manufacturing PMI, and German Final GDP q/q. The US will also publish the economic data such as Flash […]
In Asia, Japan will release the Flash Manufacturing PMI and the US will publish some economic data such as Flash Services PMI, and Flash Manufacturing PMI. So there is a probability that the USD/JPY pair will move with a low to a medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 113.55. Resistance. 2: […]
The latest news: the European Union and Britain signed a joint declaration on relations after Brexit. This is an important step to resolve the main problem for Britain and the EU at the moment. This is an important victory for Theresa May in the fight against opponents in Britain. On this news, the pound rose […]
The pound is again under pressure because of the vague prospects of Brexit. The forced pause in this matter created an informational vacuum, but yesterday alarming signals were received regarding further approval algorithm for the deal. And it’s not just the obstinacy of the British deputies: some representatives of Europe also expressed their dissatisfaction with […]
Wave pattern of H4 chart: The last current wave of the cross starts in mid-August. To date, the structure looks complete. The price has almost reached the end of the settlement zone. Wave pattern of H1 chart: A downward wave has been forming since November 8. Its wave potential goes beyond the correction of the […]
Wave pattern of H4 chart: The dominant trend has been developing since the beginning of the current year and refers to the daily scale of the movement. The last 4-hour section forms the final part. Wave pattern graphics H1: From the beginning of October, a wave zigzag has been formed towards the main direction. According […]
The U.K.’s main stock index closed lower Thursday, weighed down by weakness for resource stocks and banks and a strong pound as the outline of a key agreement over Brexit was reached. Investors were jittery after losses late in Wednesday’s session for U.S. equities. Those markets are closed Thursday for Thanksgiving, and will also close […]
The cryptocurrency universe experienced another meltdown last week, with Bitcoin breaking critical support to touch 13-month lows amid signs US regulators are set to toughen their stance towards digital currencies and Initial Coin Offerings (ICOs). While there may be some more pain in store for coin prices in the short run as greater regulatory scrutiny […]
Apple, the world’s largest company by market capitalization, has come under intense selling pressure from early October onwards, losing its trillion-dollar valuation. Growing worries over iPhone demand, the firm’s key profit-earner, acted as the catalyst for the fall. Moving forward, there are some developments that may justify more pain for the stock by year-end. […]
USD/CHF has been quite corrective and volatile after the daily close below 0.9980 area recently. Despite downbeat economic reports from the US, it managed to sustain the bullish momentum in the pair against CHF. Recently US Core Durable Goods Orders report was published with an increase to 0.1% from the previous value of 0.0% but […]
Gold rising inside short-term ABC correction (ii) Further gains are likely Gold continues to rise inside the short-term ABC correction (ii) – which started earlier from the support area located between the key support level 1200.00, 100-day moving average and the lower daily Bollinger Band. This support area was further strengthened by the support trendline […]
