Yesterday, the Bank of Canada (BOC) announced that it had raised the overnight interest rates by a quarter of a percentage point. This was the fifth rate hike since last summer and the rates now stand at 1.75%. This is the highest level since 2008, before the global financial crisis. The overnight rate is a […]
Trading recommendations: According to the H4 time – frame, I found that BTC is still trading inside of the trading range between the price of $6.456 (resistance) and the price of $6.319 (support). I also found that buying cliamx in the background, which is a sign that buying looks risky. My advice is to watch […]
Recently, the AUD/USD pair has been trading sideways at the price of 0.7080. Anyway, according to the H1 time – frame, I have found a potential double bottom pattern in progress, which is a sign that selling looks risky. The key support at the price of 0.7055 held successfully, which also indicates strength. I have […]
Here are the latest developments in global markets: FOREX: The euro was slowly rising versus the US dollar (+0.15%) below 1.1500 on Thursday ahead of the European Central Bank (ECB) interest rate decision later in the day, where the Bank is expected to keep policy unchanged but is likely to give some growth hints. The pair pared some […]
NZDUSD has been flattening today after the strong rebound on the 0.6500 psychological level earlier in the day. The pair remains under selling pressure as it still stands below the short-term moving averages and beneath the near-term falling trend line. In the short-term, indicators suggest that the rally to the downside is not over yet […]
Overview: Yesterday, the NZD/USD pair dropped sharply from the level of 0.6542 towards 0.6563. Now, the price is set at 0.6520. On the H1 chart, the resistance of USD/CHF pair is seen at the level of 0.6542 and 0.6574. It should be noted that volatility is very high for that the NZD/USD pair is still […]
Recently, the EUR/USD pair has been trading sideways at the price of 1.1413. According to the H1 time – frame, I have found a bullish breakout of a 12-hour balance in the background, which is a sign that buyers are in control and that selling looks risky. I also found a piercing candle pattern in […]
Overview: Pivot: 0.7107 The AUD/USD pair faced resistance at the level of 0.7146, while minor resistance is seen at 0.7107. Support is found at the levels of 0.7043 and 0.6980. Also, it should be noted that a daily pivot point has already set at the level of 0.7107. Equally important, the AUD/USD pair is still […]
We are pleased to give a brief account of the latest forex trading seminar hosted by XM in Cairo, Egypt, on 20th October, with event speaker Habib Akiki, on the topic of candlestick chart trading. The educational event titled The Avramis River and the Reversal Patterns attracted numerous online investors whom we were pleased to […]
A break above 1.7557 will be a good first step to confirm the hidden divergence, while a break above resistance at 1.7554 should do the trick and confirm the impulsive rally towards 1.8345. R3: 1.7625 R2: 1.7598 R1: 1.7557 Pivot: 1.7515 S1: 1.7495 S2: 1.7475 S1: 1.7428 Trading recommendation: We are long EUR from 1.7495 […]
Gold has pulled back yesterday towards the break out area and back tested it successfully as prices bounced from the break out area and are now close to their recent highs. As we said yesterday we remain bullish as long as the price is above $1,220. Blue rectangle – support Red line – target The […]
Here are the latest developments in global markets: FOREX: The dollar is down by 0.21% against a basket of six major currencies on Thursday, giving back some of the gains it posted yesterday, when it capitalized on weakness in the euro. Meanwhile, the defensive yen recovered early losses on Wednesday to finish the session as […]
The break below important support at 127.86 tells us that the decline in wave (E) can’t be complete with the test of 124.62 and more downside should be expected. Both the rally from 124.62 to 131.99 and the following rally from 124.90 to 133.13 have been three-wave moves indicating that they are corrective by nature […]
EUR/USD has broken below the critical support of 1.1450-1.1430 and has pushed as low as 1.1378. The price is now bouncing and I expect the previous support (now resistance) to be back tested. I expect prices to get rejected at this resistance area. Purple line – resistance Blue rectangle – resistance EUR/USD is bouncing towards […]
The plummets of the global stock market have wiped out this year’s profits from Wall Street, and the falls in Asia are not slowing down. But the currency market is still relatively calm. We see a slight rebound after yesterday’s USD appreciation. The SP500 index fell by 3.09% wiping out this year’s profits. Nasdaq crashed […]
Trend analysis (Fig. 1). On Wednesday, the price will move down with the first target of 1.2922 on the lower fractal. After breaking through this level, the next lower target is the support line (red thick line) at 1.2728. Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – neutral; […]
Morning Report: 07.00 London This morning, markets are steadying after last night’s late rout on US financial that saw the tech heavy Nasdaq make its biggest fall since 2011. The yen pairs are stabilising after heavy selling yesterday as traders sought out the yen’s safety yesterday. The USD/JPY fall back to support at 112.00 with […]
USDJPY has been edging sharply lower over the last couple of days, while today it slipped beneath the 23.6% Fibonacci retracement level of the upleg from 104.60 to 114.55, around 112.20. Additionally, the pair is trying to penetrate the medium-term ascending trend line to the downside, shifting the bullish outlook to a more neutral one. The momentum indicators […]
The charity initiations of the XM Foundation are spanning the globe, reaching through to individuals and communities in need, with the aim to contribute to their welfare in a meaningful way. Staying true to our commitment that financial help and moral support know no borders, no matter when and where it is needed, some of […]
The overseas drops took on some signs of panic. The SP500 index grouping the largest companies in the US fell by 3.09% on Wednesday, wiping out profits from the entire year, and the technological Nasdaq dropped by as much as 4.4%. The winner was the American dollar and American bonds also strengthened. Both assets are […]
Wave pattern of the H4 chart: The rising wave of August 15 sets the dominant direction in the short term. In the structure of the wave, the middle part (B) is nearing its end. Wave pattern of the H1 chart: The downward wave from September 20 is nearing completion. It looks like a standard plane […]
According to today’s financial media news from Japan, the Japanese Financial Services Agency (FSA) has given the local crypto industry a “self-regulatory” status, leaving supervision over the space of the Japanese Association for Virtual Currency Exchange (JVCEA). The FSA expects the self-regulatory body to lay down rules for the protection of clients’ assets, develop anti-money […]
Trend analysis (Fig. 1). On Wednesday, the market will move downward, with the first goal of 1417 on the support line (white thin line) and a strong news is expected to come out at 10.30. Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – neutral; – volumes – down; […]
The members of the Committee for a vote of no confidence (“1922 Committee”) called British Prime Minister Theresa May “onto the carpet”, who today must speak to the conservative deputies. The results of the meeting of this Committee will be largely decisive for the prime minister – either she will remain in power or leave […]
Data released in the first half of the day on the composite index of supply managers of the eurozone, had a significant pressure on the euro, as they were worse than economists’ forecasts, and also showed a slowdown in economic growth. Despite the fact that the data were preliminary, the pressure on the euro increased, […]
The high demand for safe-haven assets allowed gold to break a crucial inverse correlation with the US dollar. For a long time, the precious metal was in the shadow of the US currency, but the favorable geopolitical situation and the breakthrough of the upper limit of the medium-term consolidation range of $1185-1215 per ounce allowed […]
The foreign exchange market, unlike the stock markets, froze in anticipation of the important events of this week – the publication of data primarily from the US and the results of the ECB meeting on monetary policy. Of course, today the Bank of Canada’s monetary policy decision will attract investors’ attention. The regulator is expected […]
Minute (h4) Euro vs US Dollar Previous review from 10/22/2018 12:18 UTC + 3. ____________________ The development of the movement of the single European currency, the EUR/USD pair, October 24-31, 2018 will be determined by the direction of the range breakdown: -> resistance level of 1.1435 (upper limit of ISL38.2 equilibrium zone of the fork […]
4-hour timeframe The amplitude of the last 5 days (high-low): 93 p-116 p-93p133 p-108 p. Average amplitude for the last 5 days: 108 p (99 p). In recent days, the British pound moves almost identically with the EUR/USD pair. In this case, we can not even say that the US dollar is more expensive, as […]
4-hour timeframe The amplitude of the last 5 days (high-low): 85 p-78 p-102 p-94 p-55 p. The average amplitude for the last 5 days: 83 p (83 p). The EUR/USD pair ended the third trading day of the week with another, highly expected, decline. For the last couple of days, the pair was moving like […]
