When the European market opens, some economic data will be released such as German Trade Balance. The US will release a couple of economic reports as well such as IBD/TIPP Economic Optimism and NFIB Small Business Index. So, amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: […]
Wave pattern on the H4 chart: The rising wave dominates with a starting point on March 26. A rising high wave level indicates an imminent transition to a larger scale of motion. Wave pattern on the H1 chart: From the middle of July, a descending wave in a wrong structure is forming, which will then […]
To open long positions for EURUSD, it is required: Buyers failed to stay in the mid-channel area of 1.1500, which I paid attention to in my morning review, and now the main level of support is the area of 1.1463. Only the formation of a false breakout on it will lead to an upward correction […]
To open long positions for GBP/USD, it is required: Another rumor that the UK will achieve an agreement with the EU no longer provide support to the pound, which forces investors to look at the market soberly. This is reflected in the rate of the British pound. Today only the area of 1.3032 was able […]
Bitcoin has been quite corrective and volatile recently while residing at the edge of $6,500 area with a daily close. The price has managed to move higher quite impulsively today which provided a significant advantage of the bulls over bears This price move is expected to lead to further upward pressure in the coming days. […]
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 short-term outlook turned to become bearish towards 1.3010 (50% Fibonacci level) […]
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 (recent bearish engulfing weekly candlestick). 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 […]
The growth of the USD/CAD pair looks unnatural, given the current fundamental background for the Canadian. Experts are trying to “justify” the northern impulse of indirect factors of the pair that are associated with the emerging concerns about the prospects for the monetary policy of the Canadian Central Bank. In my opinion, the weakness of […]
4h A new bearish divergence at the CCI indicator allowed the EUR / USD currency pair to make a turn in favor of the American currency and begin the process of falling in the direction of the correctional level of 61.8% – 1.1497. Fixing the pair on October 8 under the Fibo level of 61.8% […]
4h The GBP / USD currency pair consolidated above the correction level of 23.6% – 1.3067 and continues the process of growth in the direction of the Fibo level of 38.2% – 1.3316. The maturing bearish divergence at the MACD indicator allows traders to expect a reversal in favor of the American dollar and a […]
AUDJPY has come under sharp selling pressure following the pullback on the 82.50 resistance level in the preceding week. Moreover, despite that, the 20- and 40-simple moving averages (SMAs) posted a bullish crossover, the price slipped below them and continues the negative movement. Looking at daily oscillators though, there are signs that the latest pullback may continue for a […]
For almost the entire past week, the single European currency continued to lose ground. And although at the very end of the week, the dollar began to lose ground, the euro still could not recover the losses it had suffered at the very beginning of the week. What is most interesting is that the weakening […]
Wave counting analysis: In the course of trading on October 5, the GBP / USD currency pair added another 100 base points and thus confirmed the transition to building the expected wave 5 of the uptrend trend. If this is true, then after a short pause, the increase in quotations will continue with the first […]
GOLD PRICES fell Monday morning as the dollar held firm after China’s central bank eased its domestic policy to support the economy amid concerns that an escalating trade dispute with the United States could hurt growth. China’s central bank on Sunday announced a steep cut in the level of cash that banks must hold as […]
Wave counting analysis: During the Friday’s trading, the EUR / USD currency pair added just a few base points. Thus, the pair does not move far from the previously reached lows. From this, it follows that wave a can take an even longer form and continue its construction in the direction of the Fibonacci level […]
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The data released by the end of the North American session on Friday, as well as the presentation of the representative of the US Federal Reserve Williams, did not lead to a serious change in bullish or bearish sentiment. However, the market remains on the side of dollar buyers, as a number of investors after […]
Here are the latest developments in global markets: FOREX: With Japan being shut for the Health and Sports public day and risk-off sentiment strengthening amid trade uncertainties and political noises in the Eurozone, the Japanese yen managed to rebound, sending dollar/yen straight down to a 1 ½ -week low of 113.33 (-0.33%). Yesterday, the People’s Bank […]
Trading recommendations: According to the H1 time frame, I found potential end of the downward correction (expanded flat), which is a sign that selling looks risky. I also found the breakout of supply trendline, which is another sign of the strength. My advice is to watch for buying opportunities. The upward targets are set at […]
Recently, the GBP/JPY pair has been trading downwards. The price tested the level of 147.70. According to the H1 time – frame, I have found the breakout of the support trendline in the background, which is a sign that sellers are in control. I also found potential creation of C wave (from ABC flat), which […]
Recently, Gold has been trading downwards. The price tested the level of $1,193.00. According to the H1 time – frame, I have found that end of the upward correction (irregular type 2), which is sign that buying looks risky. I have also found a hidden bearish divergence on the MACD oscillator in the background, which […]
USD/JPY has been quite impulsive with the bearish recently after having an impulsive non-volatile bullish momentum pushing the price above 113.00 area with the daily close. Having mixed economic reports, USD is currently struggling against JPY which is expected to have short-term pullbacks along the way. Due to observance of Health-Sports day, today JPY does […]
Overview: 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 moving average […]
EUR/USD has been quite impulsive amid the bearish momentum that led the price to reside below 1.1500 currently. USD has been quite impulsive with the gains despite mixed nonfarm payrolls on Friday. Since Friday, EUR/USD has been quite indecisive, closing the previous impulsive bearish week. However, today the bearish pressure seemed to have continued again […]
Overview: The EUR/USD pair continues to trade downwards from the zone of 1.1620 and 1.1559. The pair dropped from the level of 1.1620 to 1.1500 which coincides with a ratio of 38.2% Fibonacci on the daily chart. Today, resistance is seen at the levels of 1.1559 and 1.1620. So, we expect the price to set […]
Trend analysis (Fig. 1). On Monday, the market will move up with the first goal of the support level at 1.1551 (white dotted line), and it is only possible to overcome this level with the subsequent goal of the rollback level of 38.2% – 1.1599 (blue dotted line) in order to continue the upward movement. […]
Last week, China had a week’s long holiday as the country celebrated its independence. Over the weekend, the People’s Bank of China (PBOC) moved to stimulate the economy by lowering the capital reserve requirements for banks. The new measure will likely free more than $109 billion in capital. This move was also aimed at helping […]
Last week marked the start of the fourth quarter of this year. As expected, the quarter’s first week was shaky, to say the least. In the United States, the bitter confirmation process of Brett Kavanough consumed most of the time for investors. They wanted to know whether the US president will have another victory. On […]
On Friday, the United States Labour department released the jobs numbers which missed analysts’ forecasts. In September, the economy added more than 138K jobs. This was lower than the 185K that traders were expecting and lower than the 230K that ADP had released on Wednesday. The wage growth softened a bit to 2.3% as the […]
Gold is still holding within a short-term trading range over the last two months with strong resistance boundary the 1212.50 level and support boundary the 1180.60 level. Notice that currently, the price is moving below the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. The bearish pressure in the channel has been confirmed by the technical indicators. The […]
