Dear colleagues. For the Euro / Dollar currency pair, we are following the ascending structure of October 9, a pronounced movement is expected after the breakdown of 1.1628. For the pound / dollar currency pair, we expect a resumption of the uptrend after the breakdown of 1.3211. For the currency pair Dollar / Franc, the […]
Australia’s employment report for September is likely to attract investors’ attention and is scheduled for release on Thursday at 0030 GMT. The aussie is on the receiving end of considerable downside pressure stemming from growing concerns about a full-blown trade war between the US and China, as well as on the back of domestic drivers. Stronger data […]
On September 13, the depicted daily downtrend line which came to meet the pair around 1.3025-1.3090 failed to offer enough bearish pressure on the pair. Since then, the GBP/USD pair has been demonstrating a successful bullish breakout so far. On September 21, the GBP/USD failed to demonstrate sufficient bullish momentum above 1.3296. The short-term outlook […]
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 September 10, the price level of 1.1500 offered temporary bullish recovery. A quick bullish movement was demonstrated towards the upper limit of the price range (1.1750). However, the EUR/USD bulls […]
Wheat is an important agricultural commodity consumed by billions of people around the world every day. It is used in the making of bread and other food products. As the world’s population has risen, the demand for wheat has risen as well. The biggest producers of wheat are China, India, Russia, and the United States. […]
China is the second largest economy in the world after the United States. Its stock market has continued to improve in the past few years with many companies being listed there. The China A50 index was created by FTSE. It is an important index because it highlights the performance of the biggest Chinese companies. Some […]
DEMAND to buy gold from central banks led bullion-market headlines on Tuesday, while the metal held near yesterday’s 12-week highs versus a falling US Dollar. World stock markets bounced from their week-long drop, but London’s FTSE index held flat as UK Prime Minister Theresa May met with her Cabinet to try and rescue her […]
Here are the latest developments in global markets: FOREX: Growth in British average earnings (excluding bonuses) in August came in stronger than expected at 3.1% y/y versus forecasts of 2.9%, helping pound/dollar to rally as high as 1.3227 early in the European session before slipping back to 1.3219 (+0.51%). Employment declined, though, by 5k missing forecasts of a 11k rise and the […]
Trading recommendations: According to the H4 time – frame, I found that Bitcoin is in short-term balance. The high of the balance is set at the price of $6.710 and the low of the balance is set at the price of $6.163. Most recently, I have found that successful rejection of the support at $6.313, […]
Recently, the GBP/USD pair has been trading upwards. As I expected, the price tested the level of 1.3207. According to the H1 time – frame, I found the end of the downward correction (regular flat type 2), which is a sign that selling looks risky. My advice is to watch for buying opportunities. The upward […]
Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,232.00. According to the H4 time – frame, I found the end of the 30-day downward correction (abc flat) in the background, which is a sign that buyers are in control. Most recently, I have found a potential end of […]
After Tuesday’s solid jobs numbers, UK economic releases will continue with inflation data on Wednesday and retail sales figures on Thursday. With all eyes this week locked on the Brexit talks, the data may not attract the usual amount of attention. However, with both inflation and retail sales forecast to moderate in September, the data […]
The GBP/USD pair continues to move upwards from the level of 1.3170. Today, the first support level is currently seen at 1.3170, the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 1.3055, which coincides with the 61.8% Fibonacci retracement level. This […]
Overview: Pivot: 1.3003 The USD/CAD pair has broken resistance at the level of 1.3003, which acts as support now. So, the pair has already formed a minor support at 1.3003. The strong support is seen at the level of 1.3003, because it represents the weekly pivot. In the H1 time frame, the RSI and the […]
Gold price made a higher high yesterday closer to our target area of $1,240. Price has reached the equality target relative to the first leg up from August lows, but as long as we hold above $1,200 I will be expecting a move to higher highs. Red lines – trading range Green lines – long-term […]
EUR/USD is in a short-term bullish trend. Price is now challenging short-term resistance at 1.16-1.1610. Breaking above it will open the way for a move towards 1.1670-1.1740. A rejection at current levels will push prices back towards 1.15 at least. Blue lines – pitchfork Green line – RSI support EUR/USD has made an important low […]
WTI crude oil futures tumbled lower over the last couple of sessions, reaching again the short-term ascending trend line in the 4-hour chart. Also, oil prices dropped below the 20-simple moving average (SMA), while the technical indicators are confirming the recent negative structure in the near-term. The RSI indicator is pointing south in the negative zone […]
After a deep fall towards the two-month low of 6029.42 last Thursday, BTCUSD managed to show a recovery only on Monday, posting a spectacular rally to climb as high as 6717, the highest since September 28. The market could see further improvement as the RSI fluctuates in bullish territory above 50 and the MACD strengthens to the upside and […]
NZD supported a better than expected CPI reading, though not for long. CPI inflation from New Zealand in the third quarter increased to 0.9% q / q from 0.4% a period earlier and against the forecast of 0.7% Weakening of NZD and higher oil prices conquered inflation, but these are temporary factors that the NSA […]
More and more is being said recently about the Brexit agreement. Last week, the president of the European Central Bank (ECB) pointed out that the uncertainty caused by Brexit could potentially pose a greater threat to financial stability. Meanwhile, a spokesman for the British Prime Minister suggested that there was a tangible progress in talks […]
According to the deputy director of the International Monetary Fund, Tao Zhang, if global supply chains are forced to adapt as a result of continuous trade tensions between the US and China, next year it may cost the global economy around 1% of GDP. According to Zhang, there are no beneficiaries in the trade war. […]
Yesterday, global crypto investors have witnessed high fluctuations in the cryptocurrency market for the last weeks, where we have seen clear increases. Violent movements were triggered by Tether (USDT), which was peged 1: 1 against the dollar, then lost its dollar peg and is already traded well below the historical range of transactions. Although the […]
EUR/JPY has seen a low at 129.12 and we are now looking for a break above minor resistance at 129.80 and more importantly a break above short-term important resistance at 130.51. It will confirm that blue wave (2) has completed and blue wave (3) towards 138.10 is developing. Support is now seen at 129.34 and […]
When the European market opens, some economic data will be released such as Italian Trade Balance, German ZEW Economic Sentiment, ZEW Economic Sentiment, Trade Balance, Treasury Currency Report, and German Import Prices m/m. On the USD side, the US will release a series of economic reports such as NAHB Housing Market Index, JOLTS Job Openings, […]
Here are the latest developments in global markets: FOREX: The dollar index was fractionally higher early on Tuesday (+0.06%), attempting to recover some of the losses it posted in the previous session. Meanwhile, the yen is losing ground across the board, as a rebound in risk appetite seems to be diverting funds out of the safe-haven […]
In Asia, today Japan will not release any economic data. On the USD side, the US will release a series of economic data such as NAHB Housing Market Index, JOLTS Job Openings, Industrial Production m/m, and Capacity Utilization Rate. So, there is a probability the USD/JPY pair will move with low to medium volatility during […]
Today at 01:30pom GMT the markets got to know the only important macroeconomic publication scheduled for today. Of course, we are talking about the latest March retail sales in the United States. According to information provided by the American Census Bureau, the value of the basic retail sales on the monthly basis decreased -0.1% (forecast […]
The EU summit this week was supposed to be a turning point on the road to Brexit, because it was about reaching a preliminary agreement that important matters would be settled by November. However, the information from the weekend suggests that we are closer to breaks than conversations. According to the press, the EU counted […]
GBPUSD managed to close Monday’s downside opening gap, rallying back above the 1.3100 handle. The MACD has flattened slightly above its red signal line and in positive territory, while the RSI has somewhat improved but continues to hold near its 50-neutral mark, both suggesting a neutral-to-positive bias in the short-term. Trend signals are also positive […]
Morning Report: 07.00 London The US dollar is recovering after core retail sales came in well below estimates yesterday. Dollar pairs are on the back foot, but so far yesterday’s gains are holding. The AUD/USD is on the back foot, while the NZD/USD out-performs. The EUR/USD and GBP/USD are both on the back foot, but […]
