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 […]
Here are the latest developments in global markets: FOREX: The dollar is higher by 0.18% against a basket of six major currencies on Monday, recovering the modest losses it recorded in the previous session. The British pound posted notable gains after media reports suggested the EU is ready to offer the UK a “super charged” free […]
Bitcoin continues to trade inside the long-term sideways triangle pattern that has been formed since February. Traders should be patient and not try and front run the market. Traders should wait for the triangle boundaries to break before taking action. Red line – resistance trend line Green rectangle – support Bitcoin has reached more than […]
Gold price remains inside the trading range below the important resistance of $1,207-11. As long as we are below this level there is still danger of moving back towards $1,180. A break above this level will open the way for a push higher towards $1,220-40. Red lines – trading range Green lines – long-term bearish […]
Morning Report: 07.00 London The US dollar is back on the front foot following Friday’s NFP inspired sell-off. Payrolls increased less than expected, while unemployment improved. This gave a boost to dollar pairs on Friday, but this boost is receding this morning as the dollar pairs reassert its dominance. The Austrian dollar is of particular […]
EURUSD had lost its positive momentum over the previous two weeks, after the bounce off the 1.1800 psychological level, challenging a new seven-month low of 1.1460. The neutral trend in short-term though could stay in place given that prices continue to fluctuate within the inverse head and shoulders pattern with neckline 1.1800 and head 1.1300. From the technical […]
EUR/USD bounced towards resistance area of 1.1530-1.1545 but got rejected once again. Bulls now try to hold prices above short-term support at 1.1480-1.15. Losing this area will open the way for a move lower towards 1.14-1.1420. Red lines – bearish channel Blue line – short-term support Organge dots – medium strength resistance Red dots – […]
According to a press release, the largest state-owned bank in Russia, Sberbank, has signed a partnership agreement with the state energy giant, Rosseti, to promote new technologies. The latest step of Sberbank will make the bank together with Rosseti cooperate on many projects, including accelerators, education, research and exchange of expertise. Sberbank will also send […]
The week starts with the low volatility of the currency market. EUR/USD is at 1.1515, in the area recorded before the Friday publication of the US labor market report. USD/JPY is also exactly at the same level, 113.85. After a long break, investors have returned to Chinese exchanges and the start of the week brings […]
Trend analysis (Fig. 1). On the weekly chart, the price will move up with the first target of 1.3154-21 average EMA (black thin line). The second scenario is unlikely, but it is a move down to reach the support line of 1.2971 (white thin line) and only then upward movement. Fig. 2 (weekly schedule). Comprehensive […]
Trend analysis (Fig. 1). This week, the market may continue to move upwards again. The nearest target 1.1553 is a record resistance level (white dash dotted line). To continue the upward trend, the price must overcome this level. Otherwise, it will go down in the side channel to the level of 1.1478 – the support […]
When the European market opens, some Economic Data will be released such as Sentix Investor Confidence, and German Industrial Production m/m.The US will not release any Economic Data today, so amid the reports, EUR/USD will move in a low to medium volatility during this day.TODAY’S TECHNICAL LEVEL: Breakout BUY Level: 1.1579. Strong Resistance:1.1572. Original Resistance: […]
In Asia, Japan and the US will not release any Economic Data. So there is a probability that the USD/JPY pair will move with a low volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 114.48. Resistance. 2: 114.26. Resistance. 1: 114.02. Support. 1: 113.75. Support. 2: 113.53. Support. 3: 113.31. Disclaimer: Trading Forex (foreign […]
There was no time for a correction and EUR/NZD is moving directly higher towards the next target at 1.8030. Support is now seen at 1.7800 and again at 1.7758, only a break below the later support will indicate a deeper correction towards 1.7643 unfolding, before the next advance towards the 1.8369 target. R3: 1.8100 R2: […]
EUR/JPY once again made a new low at 130.60 for the correction from 133.13. Even though a new low was seen, the corrective decline from 133.13 should complete soon. The first good indication that the correction in blue wave (4) has completed will be seen when the minor resistance at 131.58 breaks, while a break […]
To open long positions on EUR / USD pair, you need: The increase in the number of people employed in the United States turned out to be worse than economists’ forecast. However, a decline in the overall unemployment rate to 3.7% did not lead to a serious drop in the US dollar against the euro, […]
To open long positions on EUR / USD pair, you need: Today, all attention will be focused on the Non-Farm Employment Change report, bringing a quite low volatility n the first half of the day market. Buyers will most likely try to keep the support level of 1.1498 and the formation of a false breakdown […]
To open long positions on GBP / USD pair, you need: Today, pound buyers will focus on the resistance level of 1.3026, the breakdown of which will lead to a larger upward correction in the area of highs 1.3077 and 1.3110. A correction will be formed on exiting the stop orders of pound sellers. In […]
Washington continues to maneuver trade confrontation the conditions of trade confrontation with Beijing, interspersing the desire for a negotiation process with outright blackmail and threats. After Wednesday, the US Vice President Mike Pence made it clear that he would come out with harsh criticism of China because he allegedly interfered in the presidential election. Once […]
Today, traders will receive the September employment numbers. This will be a closely-watched data especially after the numbers released by the Automatic Data Processing (ADP). The numbers were a surprise to many investors who expected the economy to add 187K jobs in September. Today, the figure of ADP will be confirmed when the Labour department […]
The biggest news this week was on a breakthrough in trade negotiations between the United States and Canada on Monday. The news was a sigh of relief to investors who were worried that Trump could fulfil his campaign promise of cancelling NAFTA. The unexpected deal may see increased trade in North America and most importantly, […]
GOLD PRICES clung to the $1200 level yet again on Friday, heading for a $10 weekly gain as world stock markets fell and long-term US interest rates rose to new 7-year highs. Ten-year US Treasury bond yields held at 3.20% after data from the Bureau of Labor Statistics said US employers added just 134,000 […]
US inflation indicators and Chinese trade numbers will be the big data releases during the next seven days, with the economic calendar otherwise looking relatively light. August industrial output figures will be the focus in Europe, while the minutes of the European Central Bank’s September policy meeting should also attract some attention. Chinese export growth […]
Trading recommendations: According to the H1 time – frame, I found that price broke the supply trendline in the background, which is a sign of the strength. Most recently, I have found the intraday bullish fag in creation, which is a sign of consolidation before the potential upward continuation. Watch for the breakout of bullish […]
Here are the latest developments in global markets: FOREX: The US dollar held steady against the Japanese yen on Friday, as investors turned their attention to the monthly US Nonfarm payrolls report due later today. The pair was last trading around 113.87. The US dollar index, which tracks the dollar’s strength against six major currencies, was also flat […]
We would like to inform you that due to the seasonal change in Daylight Savings in Australia which will take place on 7th October, the trading hours of few instruments will be affected between 8 October and 2 November 2018. Please review the tables below to see which instruments will be affected and how: Instrument […]
