Bitcoin has been quite bullish with the recent momentum which lead the price to reside at the edge of $6,400 area while having dynamic levels such as 20 EMA, Tenkan and Kijun line supporting it. The price has recently broke above the Kumo Cloud resistance while Chikou Span is also residing above the price line […]
Since September 13, the GBP/USD pair has been demonstrating a successful bullish breakout above the depicted daily downtrend line which came to meet the pair around 1.3025-1.3090. On September 21, the GBP/USD failed to demonstrate sufficient bullish momentum above 1.3296. The short-term outlook turned to become bearish to test the backside of the broken uptrend. […]
While Brexit uncertainty dampens investment sentiment in Britain, business leaders continue to offer higher wages to attract new workers as skills shortages seem to restrict the availability of candidates. In August, the unemployment rate held at the lowest in 43 years and average earnings picked up steam for another month, with forecasts suggesting that September’s employment report will not tell a different […]
On the weekly chart, the EUR/USD pair is demonstrating a high-probability Head and Shoulders reversal pattern where the right shoulder is currently in progress. On October 10, Recent bearish decline below 1.1520 found its way towards the price level of 1.1420 where temporary bullish pressure was pushing the EUR/USD pair above 1.1520. Hence, a descending […]
Chinese giant Alibaba Group Holding Ltd released a report on record sales this Sunday, 213.5 billion yuan ($ 30.7 billion) in 24 hours. Singles Day is the world’s largest online sales event, ahead of Black Friday in the United States and Cyber Monday. This holiday appeared in China as an alternative to Valentine’s Day for […]
The dollar has almost reached a 17-month high against a basket of major currencies, investors need a liquid and high-yielding currency amid unrest about the global economic growth and political risks in Italy and the UK. Even a 2 percent jump in oil prices, which initially supported European markets, could not remedy the situation. In […]
According to expert estimates, after the elections to the US parliament, the country’s stock market showed a significant increase. Following him, the German DAX index rose. As a result, the cost of gold was under pressure, but experts predict a change in the current situation. Elections to the US parliament supported the US stock market. […]
Oil prices started this week with an active growth. A barrel of Brent North Sea oil added almost 2.5%, while WTI went up by 1.8%, experts say. They are trying to understand the causes of what is happening. At the moment, OPEC + is moving from increasing oil production to reducing it. Recall, the cartel […]
Despite the fact that many currency strategists predict a decline in the value of the American currency next year, some of them do not recommend opening short positions in the dollar now. According to them, the signals of the Federal Reserve System (FRS) of the United States, which is not going to turn away from […]
EURNZD falling inside weekly wave (4) Further losses are likely EURNZD has been falling in the last few trading sessions inside the sharp corrective wave (4), which broke through the combined support area lying at the intersection of the round support level 1.7000, 50-week moving average and the weekly support trendline from the start of […]
Gold broke support area Further losses are likely Gold continues to fall after the recent breakout of the combined support area lying at the intersection of the key support level 1210.00 (former major resistance from August and September) and the 50-day moving average. The breakout of this support area should accelerate the active short-term corrective […]
The Japanese economy contracted in Q3, data released on Tuesday at 2350 GMT are forecast to show, with most of the weakness being attributed to natural disasters. Overall, such GDP figures would endorse the BoJ’s reluctance to consider an exit from its gargantuan stimulus program, and hence are unlikely to impact the yen much, which […]
The US dollar rose last Friday to its 16-month high against the euro, as the fall in stock prices forced the US Federal Reserve to confirm its position on tightening monetary policy, citing a strong US economy. Thus, the dollar is still perfectly able to use any positive and even negative in its favor. Whether […]
To open long positions on the GBP / USD pair, you need: The support in the area of 1.2840, which I paid attention to in my morning review, managed to keep the pound from a new bulls fall. While trading is conducted above this level, buyers in the second half of the day will try […]
Markets again succumbed to despondency. Italy and Brexit increased their pressure, as the likelihood of the worst-case scenarios is growing “not by the day, but by the hour”. The pound opened the trading week with a significant southern gap, pulling along many currencies, primarily the euro, which paired up with the dollar the annual minimum […]
Wave counting analysis: During the November 9 trading session, the GBP / USD currency pair lost about 90 basis points, and tonight, given the opening gap, another 100 basis points lost. This is the market reaction to the rejection by Brussels of the next May proposal for Brexit. The current wave counting involves the construction […]
Wave counting analysis: In the course of trading on Friday, the EUR / USD currency pair fell by 30 basis points, and today at night, it broke through the minimum of the expected wave 3. Thus, evidence was obtained that the pair proceeded to the construction of the expected wave 5 of the downward trend […]
4h On the 4-hour chart, the GBP / USD currency pair continues to fall in the direction of the correctional level of 23.6% – 1.2837. The fall is very strong and almost non-stop. Overlapping divergences on November 12th are not observed in any indicator. Reversing the quotations from the Fibo level of 23.6% will allow […]
EUR/JPY has been quite impressive amid the recent bearish pressure after a retracement towards 130.50 area with a daily close. EUR is struggling to sustain momentum against JPY due to downbeat economic reports. The pair is expected to carry on with a downward movement in the coming days. EUR has been weighed down by Italy’s […]
At the end of last week, there was a violation of the upward impulse. All growth can be considered complete and the priority direction of work is again falling. Today there is a movement with a high probability of consolidation below the weekly control zone. Today’s fall continues the downward impulse movement, which completely changes […]
ETHUSD is losing momentum over the last couple of days after the bounce off the upper Bollinger Band at 220. The price declined below the 20- and 40-simple moving averages in the 4-hour chart, while from the technical point of view the indicators are standing near their neutral levels. The RSI indicator is moving near the threshold […]
EUR/USD has been quite impulsive amid the bearish bias recently. The price is holding below 1.1300 support area with a daily close. While EUR has been weighed down by political and economic issues, USD gained momentum on the back of upbeat economic data. Recently EUR has been under pressure from Italy’s budget deficit crisis which […]
Trading recommendations: According to the H4 time – frame, I found potential double bottom formation, which is a sign that selling looks risky. The key resistance is set at the price of $6.339. If you see a valid breakout of the resistance, watch for buying opportunities. The upward target is set at the price of […]
Recently, Gold has been trading downwards. The price tested the level of $1,203.50. According to the H1 time – frame, I have found a breakout of the key short-term support at the price of $1,211.50, which is a sign that sellers are in control. I also found an intraday bearish flag after the breakout of […]
Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.2840. According to the H1 time – frame, I have found that strong downward momentum, which is a sign that sellers are in control. I also found a bearish reading on the MACD oscillator, which is another sign […]
On Monday, the 12th of November, the event calendar is light in important data releases as Canada and the US are on Bank holiday. In the following days, the American part of the trading session will be the most interesting in terms of business sentiment in the face of a divided Congress, the topic of […]
GOLD PRICES edged lower on Monday as the US Dollar hit 16-month highs on the currency market amid fresh concerns over UK Brexit turmoil and Italy’s yawning budget deficit, writes Atsuko Whitehouse at BulllionVault. Crude oil meantime bounced 1.5% from its 10-day slump after Saudi Arabia said it’s considering a steep output cut for […]
The GDP of the United Kingdom in the third quarter increased by 0.6%, drawing the annual dynamics to 1.5% y / y. A slight disappointment was the dynamics for September alone when the growth was zero against the forecast of 0.1%. However, the production was positive, which in September rose by 0.2% m / m, […]
The Fed confirmed its plan to raise interest rates by 25 basis points in December, and then two more levels by mid-2019 due to the economic recovery and rising wage pressure. The USD also benefited from the wider departure of investors from more risky assets due to tensions in trade between the US and China, […]
Here are the latest developments in global markets: FOREX: The dollar was overperforming early in the European session on Monday as political uncertainties in Europe and strong optimism on the US economy, persuaded traders to invest more in the greenback despite Trump’s Republicans losing control of the House of Representatives last week. The dollar index gained 0.60% to rise as […]
