Overview: The Swissy is still calling for strong bullish outlook today. The USD/CHF pair continues to trade upwards from the level of 0.9875. The pair rose from the level of 0.9875 to a top around 0.9865. Today, the first resistance level is seen at 0.9865 followed by 0.9922, while daily support 1 is seen at […]
Bitcoin has been recently broken below $6,500 after certain correction for a few days above it, poised to move higher in the coming days. Though the price broke below $6,500 area with a daily close, the break was not quite impulsive to sustain the bearish momentum. Moreover, the price has formed Bullish Divergence which is […]
Overview: The USD/CAD pair has broken resistance at the level of 1.3000, which acts as support now. So, the pair has already formed minor support at 1.3000. The strong support is seen at the level of 1.2945 because it represents the weekly support. In the H1 time frame, the RSI and the moving average (100) […]
GBP/JPY has recently broken below the corrective range support area of 147.00 from where the price is expected to push lower in the coming days. As of the recent worse economic reports of GBP, in the meantime, JPY gained good momentum in the process which is expected to lead to further bearish pressure in the […]
USD/CHF has been quite impulsive with the bullish momentum recently which lead the price to reside at the edge of the 0.9980 area currently. Despite the recent struggles faced by USD due to worse economic results, CHF has been dominated quite well along the way. USD has been struggling with the economic results this week […]
GBPJPY has been edging higher over the last couple of sessions in the 4-hour chart, following the rebound on the one-month low of the 145.80 support level. The RSI indicator is confirming this movement as it is approaching the threshold of 50. Furthermore, the %K line of the stochastic oscillator created a bullish cross with the […]
CHI50 stock index is currently building its biggest green candle of the year in the four-hour chart and in the daily timeframe as well, reversing losses which led the price to a one-month low of 10,689 on Thursday. The technical picture though supports that the price might lack direction in the short term as the RSI approaches […]
SubMinuette (m30) Euro vs US Dollar Previous review from 10/15/2018 19:57 UTC + 03. ____________________ The development of the Euro major currency movement in the next two days, October 18-19, 2018, will be conditioned by working out of the levels of the equilibrium zone ( 1.1498 <-> 1.1513 <-> 1.1527 ) of the Micro forks. […]
Soybeans are some of the most important exports from the United States. They are grown in the middle American states like Iowa, Missouri and Nebraska. The US is endowed with good weather and flat and fertile land that is ideal for this type of agriculture. This year, soybeans and the entire agricultural sector has been […]
This was an important week for the crude oil market. As the week started, investors were focused on the ongoing tensions between the United States and Saudi Arabia. This was important because the two countries are the largest crude oil exporters in the world. The US produces more than 14 million barrels of oil per […]
Here are the latest developments in global markets: FOREX: The dollar index is a touch higher on Friday (+0.08%), adding to the gains it recorded in the prior session and looking set to end the week meaningfully higher. The pound was the worst performer on Thursday amid a lack of progress on Brexit and downbeat UK […]
Data from China were a slight disappointment, as GDP growth in the third quarter slowed to 6.5% y / y from 6.7% against the 6.6% forecast. In the commentary to the data, it was written that pressure on growth inhibition is growing in China. September retail sales increased by 9.2% y / y and industrial […]
USDCAD posted two strong green days this week to touch one-month highs at 1.3087 and is set for its third weekly gain today. Technically the pair could face further upside in the short-term as the RSI moves positively above its 50 neutral mark and the MACD strengthens above its red signal line and marginally above […]
The content of the FOMC minutes of the meeting for September 26, published on Wednesday evening, did not become a revelation for investors. Yet, the general tone was still slightly more aggressive than predicted. The markets reacted with a decrease in stock indices since they did not see signs of a likely decrease in the […]
Wave pattern of the H4 chart: The last wave of this scale is directed downward, completing the bearish wave of D1. Wave pattern of the H1 chart: On September 21, a new downward zigzag started in the direction of the dominant trend. In recent weeks, the correctional part (B) has been formed. Wave pattern of […]
Morning Report: 07.00 London The US dollar is weaker this morning after another solid showing yesterday amid confirmation that the Fed is not for turning. The GBP/USD is slightly higher, but the damage from yesterday’s selling remains. UK retail sales fell more than expected, forcing the GBP/USD below 1.3050, while the EUR/GBP has risen on […]
Wave pattern of the H4 chart: The price movement on this scale is headed south in the direction of the dominant trend of the daily timeframe. The counter movement in the previous month does not go beyond the correction. Wave pattern of the H1 chart: The rising wave from August 15 reached the lower limit […]
GBP / USD pair The release of British inflation data and Angela Merkel’s statement about the high probability of Brexit without a deal resulted to a decrease of sterling by 67 points. The base CPI in September was 1.9% y/y against expectations of 2.0% y/y and 2.1% y/y in August. Total CPI decreased from 2.7% […]
The euro-dollar pair has not managed to break out of the price range of 1.1460-1.1620, although today the price has approached its lower limit. But the bulls again seized the initiative and did not allow it to gain a foothold in the 14th figure. However, the upward dynamics also did not receive its continuation, so […]
The British pound is trading in a narrow price range after the news on Brexit, which lead investors and traders to a greater impasse. Today, the Minister of Commerce Wilbur Ross urged the EU to begin an accelerated process of negotiations on a trade agreement with the United States, saying at a press conference in […]
So, the October summit in the EU, apparently, ended in failure. At least, the previously announced result could not be achieved: London and Brussels were again unable to agree and even canceled the November summit, where the signing of the historic deal was to take place. The parties do not see any sense in gathering […]
4-hour timeframe The amplitude of the last 5 days (high-low): 66 p-111 p-98 p-95 p-93 p. The average amplitude for the last 5 days: 93 p (90 p). The British pound on Thursday, October 18, fell to the lower limit of the Ichimoku cloud, but could not overcome it on the first attempt. However, at […]
4-hour timeframe The amplitude of the last 5 days (high-low): 81 p-77 p-67 p-55 p-85 p. The average amplitude for the last 5 days: 73 p (69 p). On Thursday, October 18, the EUR/USD pair as a whole continues to move down. The key news of the day was the cancellation by the EU leaders […]
China is due to report GDP growth for the third quarter on Friday at 0200 GMT alongside figures on industrial production, retail sales and fixed asset investment. While it is relatively early to identify tariff consequences from the ongoing US-Sino trade war, analysts believe that the world’s second biggest economy has already started to show signs of slowing down in the face of trade uncertainties. […]
After several months during which gold moved almost entirely in reverse fashion to the dollar, ignoring other developments and barely acting as the haven asset it’s considered to be, this dynamic may be changing. Demand for the yellow metal seems to be picking up amid broader uncertainty in markets, evident by bullion prices remaining resilient […]
Yesterday, traders closely followed the minutes of the last meeting of the Federal Reserve System, the publication of which led to the strengthening of the US dollar against a number of currencies, since the main emphasis was placed on the need for further increases in interest rates. The minutes of the meeting indicated that the […]
Wave counting analysis: During the October 17 trading session, the GBP / USD currency pair fell by 75 basis points, so the expected wave 2 takes the 3-wave form and continues its construction. If this is true, then the decline will continue with targets located near the calculated levels of 61.8% and 76.4% Fibonacci. An […]
Wave counting analysis: During the trading on Wednesday, the EUR / USD currency pair lost about 75 basis points. Thus, taking into account these losses, the conclusion suggests itself that the construction of the proposed wave b is completed. If this is indeed the case, the decline in quotations will continue with targets located under […]
To open long positions on GBP / USD, you need: Buyers will try to form a false breakdown at the support level of 1.3083, which will lead to an upward correction in the pound with an update of the resistance level of 1.3119. However, the main goal will be the breakdown and consolidation above the […]
4 -hour timeframe Technical details: The senior linear regression channel: direction – up. The younger linear regression channel: direction – up. Moving average (20; smoothed) – down. CCI: -138.9756 The GBP / USD currency pair continues its downward movement in anticipation of the announcement of the EU summit results. Meanwhile, European Parliament President Antonio Tajani […]
