Recently, the AUD/USD pair has been trading sideways at the price of 0.7258. According to the H4 time – frame, I have found a fake breakout of the resistance at the price of 0.7300, which is a sign of weakness. I also found the breakout of the support trendline in the background and hidden bearish […]
Overview: The EUR/USD pair fell from the level of 1.1467 to the bottom around 1.1215. But the pair rebounded from the bottom of 1.1215 to close at 1.1347. Probably; historic will repeats itself again. Today, the first support level is seen at 1.1215, and the price is moving in a bearish channel now. Furthermore, the […]
The Germany 30 index is declining for the third straight day and is currently trading not far above its lowest since December 2016 of 11,047.80 hit in late October. The Tenkan- and Kijun-sen lines are negatively aligned in support of a bearish bias in the short term. Additional declines may find support around the near two-year nadir […]
GBP/USD has been trading firmly bearish after resignation of the Brexit Minister. This event shifted the overall market sentiment on GBP. While GBP has been struggling with the recently published economic reports, USD gained impulsive momentum, though it is struggling amid waning likelihood for a steady pace of monetary tightening and better-than-expected employments reports. Recently […]
Overview: Pivot point: 0.7299. The AUD/USD pair continues to trade upwards from the level of 0.7185. This week, the pair rose from the level of 0.7185 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 […]
Wave pattern on the H4 chart: The dominant direction of the cross trend in the short-term is given by the rising wave of April 17. Wave pattern on the H1 chart: The last actual wave of this scale began the formation from the end of August and was already completed. In the wave of the […]
GBP/JPY is approaching its support at 144.30 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support) where price is expected to bounce up to its resistance at 145.93 (38.2% Fibonacci retracement, horizontal pullback resistance). Stochastic (89, 5, 3) is testing its support at 2.7% where a corresponding bounce is expected. GBP/JPY is testing its support […]
EUR/CAD reversed off its resistance at 1.5113(100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 1.5017 (50% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) reversed off its resistance at 96% where a corresponding drop is expected. EUR/CAD reversed off its […]
The dollar continues to develop a rollback from the multi-month highs, falling to 96.0 on DXY while triggering EURUSD to reach a two-week high, at 1.1450. Nevertheless, dollar’s rollback does not help any other assets, and although the weakening of the dollar usually sets offs growth in the stock and commodity markets, this is not […]
Supply, demand and the looming recession… WHAT next for gold prices if the slump in crude oil means a recession lies dead ahead? asks Adrian Ash at BullionVault. “Generally a reflection of the global economy’s heartbeat,” says UK fund management giant M&G’s Bond Vigilantes blog, “[Brent crude] oil prices sank to $56 per […]
EUR/USD is in a bullish short-term trend since bottoming around 1.1215. Our first target of 1.13 was reached and our next target of 1.1450-1.15 is also accomplished. There are no bearish divergence signs in short time frames but bulls should be very cautious from now on. Yellow rectangle – resistance Blue rectangle – short-term support […]
Wave pattern graphics H 4: The last completed wave of this scale from May to September formed a descending segment. In a larger model, it became a correction (B). The level of the subsequent ascending segment is not yet down to H4. Wave pattern graphics H1: Rising wave of September 21 in the main bullish […]
Gold price is trading around $1,224 remaining in a bullish short-term trend. Price is now above the 61.8% Fibonacci retracement but the upward momentum has weakened according to the 4hour RSI. I expect Gold to pull back or start a new downward move from current levels. Red rectangle – major resistance Blue rectangle – major […]
To open long positions for GBP/USD, it is required: Yesterday, buyers tried to return to the market, but failed to break above an important level of resistance. At the moment, the main task is to break the upper limit of the channel in the area of 1.2877, which will lead to the formation of a […]
To open long positions for EURUSD, it is required: The lack of important fundamental statistics pushes the euro upwards, but on many indicators the pair is quite overbought. I do not recommend to hurry with buying. A break with a consolidation above 1.1456 will be a signal to open long positions in order to update […]
West Texas Intermediate (WTI) futures advanced slightly above the nine-month low of 54.80 after the sharp sell-off in the preceding week but is trading in a narrow range of 55.25 – 58.15. Prices are trading within the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, which are heading for a bullish crossover in the near future. According to the technical indicators, […]
Here are the latest developments in global markets: FOREX:The dollar index is marginally lower on Tuesday (-0.08%), extending the losses it posted in the previous session as US bond yields declined and a disappointing NAHB index fueled speculation the US economy may have peaked. The Swiss franc was the best performer, attracting inflows amid risk […]
The RBA Meeting Minutes went unnoticed, and the AUD / USD fell to 0.72665, then rebound 20 pips higher. It is better to have NZD, which at 0.6855 goes to the daytime peaks. EUR / USD at 1.1450 drifts at the upper limit of the resistance zone. The weakness of the stock market has an […]
Trend analysis (Fig. 1). On Tuesday, the price will move up with the first target 1.2942 – 21 average EMA (black thin line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – neutral; – volumes – down; – candlestick analysis is neutral; – trend analysis – up; – Bollinger […]
Trend analysis (Fig. 1). On Tuesday, a downward movement is possible with the first goal 21 average EMA – 1.1401 (black thin line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – up; – volumes – down; – candlestick analysis – down; – trend analysis – up; – Bollinger […]
The RBA published the Meeting Minutes overnight. The Australian central bank still says, that the next interest rate move will probably be up, but so far, there are no reasons to make such decisions in the near future. Employment is stronger than expected, the unemployment rate should fall to 4.75% by 2020. Bank members believe […]
This autumn a further forex seminar series concluded with great success in the Philippines, where we had returned to offer online investors free professional education to foster their trading skills with the use of efficient forex techniques. The seminar titled The Avramis River Indicator and Reversal Candles was presented by professional trading instructor Jonathan Lou […]
GBPUSD remains under negative pressure as it declined below the 23.6% Fibonacci retracement level of the downleg from 1.4375 to 1.2660, around 1.3065. Momentum indicators, signal that the market holds in a consolidation mode in the short-term as the RSI indicator is flattening below its threshold of 50, while the MACD oscillator stands below the […]
With the break above 1.6706 it was confirmed that wave iii/ had completed and wave iv/ towards at least 1.6914 is developing. The former resistance at 1.6706 now acts as support and will ideally protect the downside for the expected continuation higher to 1.6914. Only an unexpected break below support at 1.6561 will invalidate the […]
EUR/JPY has traded within a very narrow band the last 24 hours. Nothing has changed and we continue to look for more downside pressure in wave C towards 123.66 to complete wave (E) and the long-term triangle consolidation. A break above 129.35 will be of concern, but it will take a break above 130.13 to […]
The Swiss main exchange SIX Swiss Exchange will launch the world’s first e-commerce product based on cryptographic processes (ETP) next week. Supported by the Swiss startup Amun AG, the first global multi-encrypted ETP will be listed under the HODL index and will follow five major cryptocurrencies: Bitcoin, Ripple, Ethereum, Bitcoin Cash and Litecoin. According to […]
EUR / USD On Monday, the eurozone’s de facto trade balance for September came out: 17.0 billion euros against a forecast of 24.2 billion. According to this indicator, the eurozone ended up in mid-2013. However, the euro was bought out against the data . In the evening, the NAHB’s business activity on the housing market […]
Morning Report: 07.00 London The dollar index is stable despite further selling of US technology stocks last night. The Nasdaq 100, home to Apple, Amazon and Microsoft et al sold off by over 3% and is sitting at the lows. Dollar pairs are mixed this morning, with the Australian dollar struggling on release of the […]
British pound added 21 points on Monday remaining under pressure from the balance line on the four-hour scale of the chart – the general weakness of the dollar helped the pound hold its positions in anticipation of the Brexit decisive agreements. But today, the main question will concern the issue of confidence to Teresa May […]
AUD / USD On Friday, the Australian dollar overcame the target level of 0.7316, expanding the price channel member of the daily timeframe. However, on Monday, it was unable to withstand the tension, it fell by 37 points against the general weakening of the US dollar. This morning, the Australian dollar continues to decline. Currently, […]
