Theresa May, the British Prime Minister, gathered senior ministers last night to discuss the only unresolved issue in the Brexit-Irish border deal. But now, this formulation sounds somewhat softer – control over goods crossing the Irish border. According to rumors, the result can be achieved with Brussels today. But if today doesn’t work out, then […]
Morning Report: 07.00 London The dollar index remains on the back foot this morning, giving dollar pairs a moderate boost. The GBP/USD continues to hold gains on Brexit hopes despite the lack of concrete progress in recent days. The EUR/USD is struggling though after falling back yesterday. The EUR/GBP is drifting lower again as a […]
Democrats celebrate the expected victory: for the first time in the last 8 years, they gained a majority in the House of Representatives, “winning” the Republicans’ advantage in 17 States of the country. Republicans, in turn, have to settle for little – they kept the majority in the Senate, while strengthening its presence – at […]
The weakening of the US dollar following the results of the midterm elections in the United States became a catalyst for the strengthening of gold. The victory of the Democrats in the House of Representatives increases the risks of a political impasse associated with the problems of passing the legislative initiatives of the Donald Trump […]
4-hour timeframe The amplitude of the last 5 days (high-low): 58 p-116 p-84 p-71 p-47 p. The average amplitude for the last 5 days: 75 p (75 p). The European currency has received support because of the results of the elections to the US Congress. The Democratic party won a majority in the House of […]
Oil prices fell on Wednesday, continuing their recent slide after surging U.S. crude output hit another record and domestic inventories rose more than expected. In early trade, prices had risen after a report that Russia and Saudi Arabia are discussing whether to cut crude output next year. Then the U.S. Energy Information Administration reported that […]
4h On the 4-hour chart, the GBP / USD currency pair continues the growth process and completed the close above the Fibo level 61.8% – 1.3066. Thus, the growth of quotations can be continued on November 7 in the direction of the correction level of 76.4% – 1.3157. Rebounding the course of the pair from […]
The market is optimistic about the conclusion of an agreement on Brexit, against this background, the pound shows growth, and analysts predict a further strengthening of the course. Sterling this month scored about 3% of the cost and went above $ 1.31. Paired with the euro, it went up by 1%, reaching 87.24 pence. However, […]
AUD/USD has been quite impulsive with recent bullish gains which lead the price towards 0.7300 resistance area from where certain bearish pressure might be observed in the coming days. Despite the unchanged Cash Rate and neutral economic readings, AUD gained momentum while USD is struggling fundamentally. Recently Australian AIG Services Index report was published with […]
Analysts of one of the largest banks in Sweden, Skandinaviska Enskilda Banken (SEB), believe that a little more than a week is left before the resumption of the rally in the oil market. “We expect that by this time, the speculative sale, which is based on the behavior of US stocks, will end, and the […]
The cost of Brent crude on the world market moved to an increase to $ 73.50 a barrel after falling to $ 71.30 the day before. Quotes of American oil WTI rose to $ 62.77 per barrel. The driver of their rise was the message that OPEC + is discussing the possibility of reducing oil […]
To open long positions on GBP / USD, you need: Buyers continue to push the pound up. The breakthrough of the level of 1.3133 and consolidation above allows us to count on the continuation of the upward trend with the update of the maximum near 1.3186 and 1.3233, where I recommend fixing the profit. In […]
To open long positions on EUR / USD, you need: Buyers worked the morning support level of 1.1430, which I paid attention to in my morning forecast, and now, they are trying to gain a foothold above the resistance of 1.1473. A test of this level from top to bottom on the volume will be […]
The power in the House of Representatives passed into the hands of the Democrats. This not only split the Congress, but also returned hope for the return of “old America”. The Republicans won the Senate, taking Indiana, North Dakota from their opponents, and took one empty seat in Tennessee. The dollar is stunned and retreats […]
The pound rally against the backdrop of growing optimism regarding Brexit is so confident that it can ignore some serious risks. There are high chances that the appreciation will be further developed if British lawmakers sign an agreement, while the reason for a recession may be the refusal of parliament to approve the deal. Then […]
Most Wall Street economists predict that the US Federal Reserve (Fed) at the next meeting, which will be held November 7-8, will leave the interest rate unchanged (at 2-2.25%), but will give a signal of readiness to increase it in the last month of this year. Experts estimate the probability of a rate hike in […]
The euro could not find support in stronger macroeconomic statistics for the euro area. According to economists, the volume of production orders in Germany should have been reduced by 0.5%, but instead it rose by 0.3%. Also, the Euroblock business activity index was revised upwards due to increased activity in the German services sector. In […]
Last week, Angela Merkel announced that in December, she intends to resign as the head of the Christian Democratic Union (CDU). However, she noted that she plans to remain the head of the German government until the next parliamentary elections, which will be held in 2021. At the moment, the question of a possible successor […]
As it happened more than once before, on the eve of the day, the pound sterling grew due to hopes regarding the deal on the UK leaving the European Union (EU). At the same time, when the Laborists excluded the possibility of voting on the transaction, the pound changed its motion vector. However, having lost […]
EUR/JPY has been quite impulsive and non-volatile with recent bullish gains which led the price to reside above 130.00 area currently. Amid lackluster economic reports from Japan, EUR gained momentum despite mixed economic data as well. EUR has been struggling amid the Italian crisis of the Budget Deficit which is currently being tackled, but things […]
Trading recommendations: According to the H1 time – frame, I found that BTC is trading sideways at around $6.477. I see the potential for the downward correction and my advice is to watch for potential selling opportunities if you see a valid break of the support at the level of $6.457. The breakout of the […]
USDCHF extended Tuesday’s losses and is currently trading not far above a two-week low of 0.9952 hit earlier on Wednesday. The RSI turned lower after entering overbought territory above 70. At the moment, it continues to head lower in support of a negative short-term picture. The bias in the very-short-term also looks bearish as indicated […]
The US Federal Reserve will announce its latest monetary policy decision on Thursday at 19:00 GMT after concluding a two-day meeting. While the Federal Open Market Committee (FOMC) is almost certain to keep its benchmark rate unchanged this month, investors will be watching for any tweaks to the statement language for clues about the future […]
Gold is currently trading within a consolidation area over the last month, with upper boundary the 1239 resistance level and lower boundary the 1212 support barrier. At the end of the previous month, the price reached a new three-month peak of 1243.30, endorsing the scenario for bullish tendency, however, it returned back to neutral mode. […]
Recently, Gold has been trading sideways at the price of $1,231.00. Anyway, according to the H4 time – frame, I have found bullish flag in creation, which is a sign that Gold is in a consolidation phase. My advice is to watch for a breakout of the bullish flag to confirm further upward continuation. The […]
Purchasing the pair will be the most profitable in the upcoming week. It is necessary to take into account the limited potential of the current price growth. The calculated resistance zone indicates the lower limit of the potential reversal zone. Wave pattern on the H4 chart: The current wave structure of this scale is ascending, […]
The dollar is trading in different directions and fluctuating against the euro and the yen in today’s extremely volatile trading session, as traders have already scanned the results of the midterm elections in the United States and presuppose a high probability of a political deadlock in the US Congress. Based on the first data, it […]
4h The EUR / USD currency pair consolidated above the correction level of 76.4% – 1.1422. As a result, on November 7, the growth of quotations can be continued in the direction of the next correctional level of 61.8% – 1.1497. Maturing divergences are still not observed in any indicator. Fixing quotations under the Fibo […]
It seems that the first results of the midterm elections to the American parliament have not yet had a noticeable impact on world markets. Asian trading floors show a positive trend on Wednesday morning. According to the first data of the midterm elections, the upper house of parliament, the Senate, remains under the influence of […]
GBP / USD The British pound on Tuesday, with a gradual weakening of the dollar index, grew by 55 points under optimistic comments from the British government on work on the issue on the Irish border. The price is growing steadily, without disturbing the balance in the direction of growth on a daily scale chart. […]
