Morning Report: 07.00 London The US dollar is recovering from an opening gap lower which initially boosted dollar pairs this morning before they fell back as dollar buyers stepped in. The dollar index is now unchanged for the morning, holding Friday’s NFP gains which came in at much higher than expected. The USD/JPY is building […]
Here are the latest developments in global markets: FOREX: The dollar was down by 0.1% versus a basket of currencies on Monday after rising on Friday, when the US saw the release of a robust October jobs report. Sterling outperformed even though it gave up on part of earlier gains, being helped by positive Brexit […]
To open long positions for EURUSD, it is required: Euro buyers quickly left the market after the release of more than a good report on the US labor market, which continues to show phenomenal performance. At the moment, buyers of the EUR/USD need to return with a consolidation above the resistance of 1.1408, from which […]
To open long positions for GBP/USD, it is required: Today, all the movement of the pound will be formed by the data on the PMI index for the service sector, which will set the direction at the beginning of this week. Buyers of the GBP/USD need a breakout and consolidation above the resistance of 1.3020, […]
Dear colleagues. On the Euro / Dollar pair, the upward structure of October 31 is expected to develop after the breakdown of 1.1424. The pair Pound / Dollar is expected to continue moving up after the breakdown of 1.3020. The pair Dollar / Franc price is still in the zone of initial conditions for the […]
On Monday, the Asian stock market shines red, but the currency market is calm. The pound is the strongest on the foreign exchange market. The UK media reports that Prime Minister May has a secret plan that will ensure an agreement on Brexit and will be approved by the parliament. GBP / USD initially jumped […]
Despite the rebound of last week, which allowed key indices to bounce off the recent lows, the financial markets remain cautious. A new wave of pressure on Friday was spurred by the U.S. labour market report. The data for October showed growth of employment by 250K and acceleration of wage growth up to 3.1% yoy […]
On Friday, the US released the jobs numbers for the month of October. The numbers were way much more than traders had expected. In the month, the economy added more than 250K jobs. This was higher than the 190K that traders had expected. The wages rose by 3.1%, which was the fastest growth since 2009. […]
Last week was a crossover between the month of October and November. The month started with optimism after Trump’s call with China’s Xi Jinping. There were also reports that Trump had asked his senior officials to draft a potential trade deal that will be signed by China. The two leaders will meet in Argentina later […]
On Friday, Canada released the employment numbers for October. The numbers disappointed with the employment change being 11.2K. This was lower than the 12.7K that traders had expected. It was also lower than the September’s change of 63K. In the previous month, Canada had lost 51K jobs. At the same time, the participation rate declined […]
EURGBP opened with a gap down on Monday near one-month lows and is currently trying to restore its losses. Negative risks however remain in the background as the MACD increases momentum to the downside and below its red signal line. The RSI is also in bearish territory but is close to its 30 oversold threshold, […]
On Monday, the price will move up, with the first goal of 1.3066 – the rolling level of 23.6% (yellow dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis is neutral; – trend analysis – up; – Bollinger lines […]
The Governor of the Bank of Japan had his speech overnight. Kuroda said the market situation has improved somewhat since the last monetary policy adjustment that took place in July. The central bank is aware that a very loose policy affects the stability of the financial market. Commercial banks take on more risk than usual, […]
The British newspapers report that the British Prime Minister has succeeded in negotiating with representatives of the European Union. The United Kingdom is to remain in the customs union. Information, for now, comes from an undisclosed source. Northern Ireland will not be treated in any special way. This probably solves the problem of the hard […]
In an official statement, the Ukrainian government confirmed its plans to establish a legal framework for the legalization of cryptocurrencies. As part of an initiative to recognize crypts as a promising emerging technology, the Ministry of Economic Development and Trade in Ukraine has published a new state policy to supervise various sectors related to cryptocurrencies. […]
We are still looking for a final dip closer to the 1.7010 target from where a corrective rally towards 1.7560 before the next downside pressure sets in for the next decline towards 1.6653. Short-term minor resistance is seen at 1.7175. This minor resistance will ideally be able to cap the upside for the final dip […]
EUR/JPY continues to follow the expected path higher towards 130.20 and possibly even closer to the 61.8% corrective target near 130.65. Support is now seen at 128.57, which ideally will protect the downside for a break above minor resistance at 129.33 for the next rally towards the 130.20 target. However, it will take a break […]
When the European market opens, some economic data will be released such as the Sentix Investor Confidence and the Spanish Unemployment Change. The US will also release economic reports such as Loan Officer Survey, ISM Non-Manufacturing PMI, and Final Services PMI. So, amid the reports, EUR/USD will move in a low to medium volatility during […]
In Asia, Japan will release the BOJ Monetary Policy Meeting Minutes. At the same time, the US will also release some economic data such as Loan Officer Survey, ISM Non-Manufacturing PMI, and Final Services PMI. So, there is a probability the USD/JPY pair will move with low to medium volatility duringthis day. TODAY’S TECHNICAL LEVEL: […]
CADJPY is approaching its resistance at 86.67 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to the support at 85.76 (50% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected. CADJPY is approaching […]
The intensive forex trading seminar series launched by XM throughout Latin America has recently reached two more stops this October, the cities of San José in Costa Rica, and Cali in Colombia. The presentation of Jarek Duque, Chief Instructor for Latin America captured the undivided attention of an impressive number of online investors in each […]
Over the past 24 hours, the valuation of the crypto market has remained at $205 billion, mostly due to the stability of Bitcoin at $6,350. The gap between BTC/USDT (Tether) and BTC/USD has declined to around $50, with the Bitcoin-to-Tether pair being traded with a $50 premium. The announcement of Tether LLC’s new partner bank […]
The US labor market report (NFP) pointed to an increase in employment in October by 250,000, much more than the expected 200,000. September data has been revised down to 118,000 (from 134,000 previously) and both figures can be explained by disturbances caused by hurricanes. Traditionally, the main focus is on wage dynamics, which at 0.2% […]
We saw a very strong employment report from the United States, which naturally caused an increase in demand for the Dollar. Although this growth is still very modest (almost an hour USDX added just 0.2%), it is worth paying attention that the American economy with payrolls increase by 250K in October retains the trend growth […]
As the Bitcoin continues to trade sideways near $6,300, leading commentators declare they are “pleasantly surprised” with the market stability simultaneously changing their forecasts from “20k per BTC” by the end of 2018 to another 18 months of a bearish trend (BitMEX). It seems that now it is really very difficult to determine the future […]
Palladium reversed from support area Further gains are likely Palladium recently reversed up sharply from the support area lying between the key support level 1060.00 (which has been reversing the pair from the start of October) and the 38.2% Fibonacci correction of the previous sharp impulse wave from September. The upward reversal form the aforementioned […]
GBPUSD rising inside corrective wave 2 Further gains are likely GBPUSD continues to rise inside the sharp short-term corrective wave 2, which started earlier from the support area lying between the strong support level 1.2700 (which stopped the sharp downtrend in the middle of August) and the lower daily Bollinger Band. The price earlier broke […]
There is a rapidly growing interest in bitcoin and other cryptocurrencies among institutional investors while there seems to be lethargy in the number of retail buyers operating within the space. As such, bitcoin and altcoins now constitute a new institutional investment class since 2017, according to new research from major US bank Morgan Stanley. In […]
GOLD PRICES dropped $5 per ounce on news of stronger-than-expected US jobs growth on Friday, heading for the first weekly drop in 5 as world stock markets extended their bounce from October’s slump. Japan’s Topix index closed 3.9% higher from last Friday and Shanghai’s CSI300 added 3.7% after falling Monday back near October’s 28-month […]
The US midterm elections next week are widely expected to produce a split Congress. Investors appear somewhat complacent on the outcome, which allows room for notable market reactions in case of a surprise, like one of the parties taking control of both chambers. Below follows an analysis of the possible outcomes, the likelihood attached to […]
