GOLD PRICES slipped back from yesterday’s 1.6% short-covering jump on Wednesday, dropping as the Dollar rallied following stronger-than-expected US jobs data. Spot gold retreated $7.50 per ounce to near $1200 yet again after the private-sector ADP estimate said US payrolls expanded by 230,000 in September, almost 25% ahead of Wall Street’s consensus. The gold price […]
Dear colleagues. For the currency pair Euro / Dollar, to the level of 1.1605, we expect the registration of the expressed initial conditions for the top. For the Pound / Dollar currency pair, the downward movement is possible after the breakdown of 1.2953 and the level of 1.3055 is the key support. The pair Dollar […]
The US 30 index (Dow Jones Industrial Average) hit a fresh all-time high of 26,900.50 in pre-market trading on Wednesday, while it is currently in proximity to this peak. Adding to the conviction for a bullish bias are the positively-aligned Tenkan- and Kijun-sen lines and the RSI which is heading higher. Notice though that the […]
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). Recently, the price level of 1.1500 offered temporary bullish recovery. Another bullish movement was demonstrated towards the upper limit of the price range (1.1750). However, the […]
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. However, on H4 chart, the market failed to maintain its uptrend within the depicted bullish channel […]
To open long positions for EUR / USD pair, you need: To maintain the upward trend in the European currency, buyers need to stay above the support level of 1.1572. The formation of a false breakout on it will be a signal to open new long positions in order to update the resistance levels of […]
Here are the latest developments in global markets: FOREX: The common currency crawled up on Wednesday from six-week lows on news that the final version of Italy’s budget deficit could be less worse than originally reported. Government sources signalled possible reductions to the deficit targets in 2020, 2021, according to reports. Earlier today, retail sales in the Euro area dropped by 0.2% m/m […]
AUDUSD has come under renewed selling pressure, falling back below the 20- and 40-simple moving averages (SMAs) in the daily timeframe, following the pullback on the 0.7300 resistance level. The technical indicators are suggesting that further declines may be on cards in the short-term. The RSI is below its neutral 50 line, detecting negative momentum, and […]
GBP / USD pair On Tuesday, the British pound fell by 59 points under pressure from a stronger dollar and a decline in the UK business activity in the construction sector from 52.9 to 52.1 in September. Support for the balance line on a daily scale was strong enough, the pound could not radically shift […]
Overview: Pivot: 0.7267 The AUD/USD pair will be probably continue to climp from the level of 0.7233 in the long term. It should be noted that the support is established at the level of 0.7233 which represents the 50% Fibonacci retracement level on the H4 chart. The price is likely to form a double bottom […]
Overview: The USD/CHF pair continues to move upwards from the level of 0.9809. Yesterday, the pair rose from the level of 0.9809 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 0.9743 (61.8% Fibonacci retracement). According to the previous events, […]
EUR/JPY has been quite volatile amid the nearish bias recently after consistent bullish momentum in the pair since it bounced off the 125.50 area on August. EUR has been the dominant currency in the pair, whereas JPY is to blame for further weakness against the EUR. This week, despite fresh worse-than-expected economic data from Japan, […]
Recently, the USD/CAD pair has been trading sideways at the price of 1.2835. According to the M30 time – frame, I found that potential a bearish flag in creation. My advice is to watch for a potential bearish breakout of the lower diagonal to confirm further downward continuation. Take profit level is set at the […]
Trend following is the foundation of trading or investing in the financial market. This is because the goal of any trader is to buy a financial security that is reasonably priced and then riding the upward trend. Similarly, the trader could sell a security and wait for its price to drop. The trend is a […]
In the past few weeks, the USD/CAD pair has been very volatile because of the ongoing trade negotiations. As you recall, a few weeks ago, the United States made a deal with Mexico. The deal was very surprising because of the tensions between the US president and Mexico. The president has blamed Mexico for stealing […]
Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2965. Anyway, according to the H4 time – frame, I found that price rejected from the key support upward trendline at the price of 1.2945, which is a sign that selling looks risky. The overall trend is bullish and my advice […]
Trading recommendations: According to the H1time – frame, I found that Bitcoin has been trading downwards. As I expected, the price tested the level of $6.361. I found the breakout of the bearish flag and fnished upward correction (abc flat) in the background. My advice is to watch for selling opportunities. The downward targets are […]
Here are the latest developments in global markets: FOREX: The dollar index – which tracks the greenback’s performance against a basket of six major currencies – is lower by 0.20% on Wednesday. This is owed mainly to a recovery in the currency with the heaviest weight in this index, the euro, which bounced overnight following news […]
Gold price broke above the short- and long-term bearish channels. Price is back above $1,200. As long as we trade above $1,190, I expect Gold to move higher towards $1,220-30 area. Green lines – long-term bearish channel Red lines – short-term bearish channel Gold price is trading around $1,203. Gold bulls will need to break […]
EUR/USD has touched the support trend line we showed yesterday for the 8th time and prices bounced strongly from 1.1505 to 1.1590. Price is making higher highs and higher lows in short time frames. Bulls need to hold above 1.1534 in order for the bullish short-term trend to remain intact. Red line – major resistance […]
Financial markets are still focusing on Italy, although today the reports are positive. Valuation of EUR and other currencies from Europe are improving. The stock market, however, maintains declines. Crude oil is holding fast. In the morning the EUR jumped after information from Corriere della Sera, according to which Italy will commit to lowering the […]
The Reserve Bank of India (RBI) denied the formal establishment of the unit for research on artificial intelligence and Blockchain technology. This explanation follows the investigation conducted by one of the financial newspapers in India. It appears several weeks after rumors began to circulate that the central bank was to set up an alleged unit […]
Former US President Bill Clinton spoke at a conference on cryptocurrencies to convey the word of warning to policymakers who want to regulate what he terms promising technological progress. On stage at the Ripple’s Swell conference in San Francisco, Gene Sperling, a former White House advisor currently on the board of the Ripple, joined Clinton. […]
Morning Report: 07.00 London The EUR/USD is rebounding off support around 1.1550 as Italy concerns ease. This reverses yesterday’s losses which marked five days of losses. The EUR/GBP is also on the rise, building on yesterday’s losses as Brexit concerns slow down the pound. The EUR/CHF is also making gains this morning and is heading […]
GBPUSD has been erasing gains since the peak at 1.3297 on September 20 to fall back into the Ichimoku cloud. Yet, the RSI indicates that the downfall may stall as the indicator is near its 50-neutral mark, while the Stochastics suggest that a reversal to the upside is also possible; the green %K line has crossed above […]
XM has recently completed one more intensive forex trading seminar series in Thailand, which reached as many as eight different destination in the Southeast Asian country since its start in June. The last three stops of the seminar road trip were Khon Kaen on 1st September, Ubon Ratchathani on 15th September and Chiang Rai on […]
4 hour timeframe The amplitude of the last 5 days (high-low): 99п – 79п – 106p – 90п – 104п. Average amplitude over the last 5 days: 96p (96p). The British pound sterling also fell against the US dollar on Tuesday, October 2. At the end of the second trading day of the week, the […]
4 hour timeframe The amplitude of the last 5 days (high-low): 62п – 72п – 119п – 81п – 61p. The average amplitude over the past 5 days: 79p (85P). The complete absence of any macroeconomic events and reports did not become an obstacle for the EUR/USD currency pair. After a short break in the […]
To open long positions for EUR / USD pair, you need: Buyers failed to do anything in the first half of the day to break the downward trend in the European currency, even despite good data as the producer price index in the eurozone increased. At the moment, the first task is to return to […]
For you GBP / USD pair, you need: The expected breakthrough of the support level at 1.3011, which I drew attention to in my morning review, led to the sale of the pound. At the moment, buyers are trying to keep above the level of 1.2936, but the upward correction that we are seeing in […]
