The Financial Supervisory Authority of the United Kingdom, the Financial Conduct Authority (FCA), may ban the cryptocurrency derivatives, such as futures contracts, as part of the “most comprehensive response” for this industry. In a speech at a conference in London, executive director of FCA Strategy and Competition Christopher Woolard, said the organization would consult on […]
4 hour timeframe Technical details: Senior linear regression channel: direction – down. The younger linear regression channel: direction – down. Moving average (20; smoothed) – up. CCI: 12.8973 The currency pair EUR / USD on Thursday , November 22, continues to trade near the moving average line and can neither resume upward movement nor gain […]
We continue to look for wave iv/ moving closer to resistance at 1.6914 and more likely closer to resistance at 1.7023. A break above minor resistance at 1.6767 will confirm the next push higher towards at least 1.6914. Support is now seen at 1.6642 and important support at 1.6560. A break below the later will […]
Morning Report: 07.00 London The dollar index is on the back foot this morning, with small amounts of follow-on selling from yesterday’s reversal. US core durable goods orders came in worse than expected yesterday. Markets are generally quiet though with US equity market closed for Thanksgiving. The EUR/USD is building on yesterday’s tentative gains, but […]
Reducing the pair is a priority and the probability of updating the November is as low as 70%. As long as the pair is trading below the NCB 1/2 1.2868-1.2854, sales remain the priority. The target zone of decline is the NKZ 1/2 1.2649-1.2636. By achieving this zone, it will allow fixing a short position […]
GBP / USD Yesterday, the British pound fell a bit by 10 points but did an important technical action. It closed the trading session below the nested line of the price channel on the daily scale chart. On the H4 graph, it is noticeable that the price did not let up the balance line. The […]
AUD / USD On Tuesday and Wednesday, the Australian dollar successfully tested the embedded line of the price channel for strength. The line was broken and the price turned up from the balance line. Correctional upward movement was stopped with a reversal of the signal line of the Marlin oscillator from the zero line on […]
Movement remains a medium-term impulse. But this week, the formation of a reversal pattern of a younger period took place. Within the formed accumulation zone, a search for a pattern for the sale of an instrument is required. On Tuesday, the fall in the rate led to the formation of a reversal pattern after the […]
The broker says the new site represents its “core values as a business” Retail broker FxPro announced the launch of a new website this Wednesday. A page explaining the new design suggests the change is part of a wider rebranding effort on the part of the company. “This is not just a new website,” said […]
It’s too early to write off bitcoin, Ethereum or ICOs due to temporary market blips because the technology is revolutionary. And that won’t change — regardless of whether crypto prices go up or down, says blockchain attorney Stephen Palley. Moreover, Palley does not believe that recent regulatory crackdowns by the US Securities and Exchange Commission […]
Valdis Dombrovskis, Vice President of the European Commission for Euro, Financial Stability and Social Dialogue, said that the EC opens the so-called excessive budget deficit procedure for Italy since the draft budget of the country for 2019 does not meet the requirements of the Stability and Growth Pact.According to the terms of the Covenant, the […]
Technical outlook: The GBP/USD pair seems to be preparing for a rally past 1.3140 levels in the next the next few trading sessions. For this wave structure to remain intact, GBP/USD needs to hold above its interim support around 1.2700 levels as depicted on the 4H chart here. Please note that immediate resistance is seen […]
Technical outlook: The Dow Jones is setting up for a huge drop lower towards 23,000 levels at least, for the next several weeks to come. It remains to be seen from when and from which resistance level, the above downswing would begin. The 4H chart depicted here seems to have completed its first downswing between […]
The US 100 stock index plunged to a 7-month low of 6439.25 yesterday as the bears continue to pull the price further below the index’s all-time high of 7701.35 set on October 1. Momentum indicators point to further weakness in the near term, with the stochastics falling towards oversold territory, while the RSI lies deep […]
Brent crude oil futures with delivery in January 2019 plummeted to an almost one-year low around 61.70 on Tuesday. The price is set to complete the seventh straight negative week, however, looking at the very-short term timeframe, it has jumped above the multi-month low today. The MACD oscillator is flattening below its trigger line, while the RSI is moving sideways in […]
According to the results of trading on Tuesday, November 20, world prices for black gold fell by 7% per day. On Wednesday, November 21, the cost of futures for Brent crude fell by 6.4% to $ 62.53. WTI light oil futures fell 6.6% to $ 53.43.During the trading session, the fall in Brent quotes reached […]
The euro is expected to decline after the decision of the European Commission to apply the procedure of excessive deficit to Italy. Despite the fact that such a decision was quite expected, speculative players tried to take advantage of these moments and continue the decline of the European currency, which is still limited to the […]
EURCAD broke resistance area Further gains are likely EURCAD recently broke through the resistance area lying at the intersection of the resistance trendline from June and the 61.8% Fibonacci correction of the previous sharp downward impulse from September. The breakout of this resistance area should accelerate the short-term impulse wave (c) – which belongs to […]
Cotton reversed from support area Further gains are likely Cotton today reversed up from the support area lying between the strong, multi-month support level 75.00 (which also stopped the price in February and September) and the lower daily Bollinger Band. The upward reversal from this support area stopped the earlier short-term impulse wave 5 – […]
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 […]
