The IBEX 35 index was underperforming in the previous sessions, while today, the price is erasing some losses and is ready to set a bullish day. However, the index remains below the 23.6% Fibonacci retracement level of the downleg from 11190 to 9100, near 9590. The technical indicators, though, are flattening near their neutral levels. The RSI […]
Yesterday, it became known that the US Federal Reserve System set the range of interest rates for federal funds between 2.00% and 2.25%. The Fed also raised the discount rate to 2.75% by 0.25 percentage points. This decision by the committee on open market operations took the number of votes to 9 against 0. Despite […]
As expected, the Fed raised a 0.25% key rate at the meeting that ended on Wednesday. The updated macroeconomic forecasts completely coincided with the expectations of analysts, and the definition of the monetary policy as “accommodative” has disappeared from the text of the accompanying statement, which means a planned change in rhetoric following the policy […]
To open long positions for GBP / USD, you need: Half a week, pound buyers tried to return to the market, but it seems that the pressure on the pound returns. It is best to consider long positions after consolidating above the resistance level of 1.3144, which will lead to a larger growth in the […]
The Fed meeting did not bring any surprises. As expected, the regulator raised the key interest rate by 0.25%, to 2.25%, setting the range of rates from 2.00% to 2.25%. The decision of the Central Bank was predictable and, what was important, fully integrated into the overall current strategy, which aims to smoothly cool the […]
Dear colleagues. For the currency pair Euro / Dollar, the continuation of the upward movement is expected after the passage at the price range of 1.1809 – 1.1829. For the Pound / Dollar currency pair, the price is close to canceling the downward structure from September 20, which requires a breakdown at the level of […]
A raft of economic data out of Japan will hit the markets on Thursday at 2330 GMT. Forecasts point to numbers that would reaffirm the BoJ’s reluctance to consider an exit from its massive stimulus program for the time being and as such, are unlikely to have much impact on the yen. Instead, the far […]
GOLD PRICES fell hard against the Dollar at the start of New York trade on Thursday, dropping further below $1200 than any time so far in September after the Federal Reserve’s latest hike to interest rates was followed by stronger than expected US jobs data. Last week saw claims for jobless benefits rise less […]
Sugar is one of the most important agricultural commodities in the world. While its increased consumption is often not good health-wise, billions of people around the world cannot do without it. Sugar futures are listed in the main exchanges like the Intercontinental Commodities Exchange (ICE) and Chicago Mercantile Exchange (CME). The prices listed by these […]
The US dollar jumped yesterday after the Federal Reserve released the statement from the Open Market Commission (FOMC). The Fed raised interest rates and committed to continue the tightening process. It raised interest rates by a quarter a percentage point from 2 to two and a quarter per cent. This was the third rate hike […]
The New Zealand Dollar dropped against the USD following the Fed’s decision to continue tightening and the Reserve Bank of New Zealand’s decision to continue easing. In its September meeting, the monetary policy committee left interest rates unchanged and pointed to a continuation to the low interest rates policy. The rates have not been changed […]
Here are the latest developments in global markets: FOREX: The dollar flattened around 112.72 versus the yen early in the European session, while relative to six major currencies the greenback was in a better position, gaining 0.36% on the back of a weaker euro and pound. Euro/dollar was struggling to recoup earlier losses triggered by news that the […]
Trading recommendations: According to the H1 time – frame, I found that price broke the bearish flag in the background, which is a sign that sellers are in control. The short term trend is bearish and my advice is to go with the trend. Watch for selling opportunities. The downward targets are set at the […]
On September 13, the GBP/USD pair was testing the depicted downtrend line which came to meet the pair around 1.3025-1.3090. Since then, the pair has been demonstrating a successful bullish breakout so far. This price zone (1.3025-1.3090) also corresponds to 50% and 61.8% Fibonacci levels. Currently, this price zone turned to become a prominent demand […]
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. Recently, the price level of 1.1500 offered temporary bullish recovery towards 1.1750. The EUR/USD bulls failed to pursue towards higher bullish targets. Instead, a descending high was established around 1.1800. However, […]
Recently, Gold has been trading downwards. The price tested the level of $1 193.95. According to the H1 time – frame, I found the breakout of the bearish flag (the end of an upward correction abc flat), which is a sign that sellers are in control. Most recently I found that a breakout of the […]
Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1684. According to the M30 time – frame, I found the breakout of the descending triangle (bearish pattern), which is a sign that sellers are in control. The key support at 1.1723 retained firmly for long, but it couldn’t hold today. […]
3x lessons from the ABX-RRS gold mining M&A news… DESPITE the trillions of pixels already spent on news of the Barrick-Randgold mining merger, writes Adrian Ash at BullionVault, everyone in the gold industry still wants to know… Will Mark Bristow start slashing costs at Barrick by selling the Gulfstream and taxiing John Thornton […]
On 20th October XM hosts a seminar in Athens, Greece, on the topic of forex and stock trading, to which we are pleased to invite online traders ready to learn interesting details from professional instructor Charalambos Spyridis. The educational event takes place at Hilton Athens Hotel, where our company representatives will be looking forward to […]
This would suggest a bearish market because the moving average (100) is still in a negative area and does not show any signs of a trend reversal at the moment. Amid the previous events, the USD/CHF pair is still moving between the levels of 0.9689 and 0.9600, so we expect a range of 89 pips […]
Overview: The GBP/USD pair rose from the level of 1.3100 towards 1.3211 yesterday. Now, the current price is set at 1.3119. On the H4 chart, the resistance is seen at the levels of 1.3211 and 1.3298. Besides, the weekly support 1 is seen at the level of 1.3038. Today, the GBP/USD pair is continuing to […]
NZDUSD has come under renewed selling pressure falling back below the 0.6630 price level but remaining above the lower Bollinger band. Meanwhile, the 20-simple moving average (SMA) is ready to record a bearish crossover with the 40-SMA in the 4-hour chart, suggesting more losses. The RSI indicator dropped below the 50 level with strong momentum, […]
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 higher by 0.35% on Thursday. This is owed mainly to weakness in the currency that has the biggest weight in this index by far, the euro, which is under pressure […]
Gold price remains trapped inside the bearish channel and inside the trading range between $1,211-$1,190. Short-term trend remains neutral. Gold traders should be patient and wait for a breakout sign. Red lines – trading range Green lines – bearish channel Short-term resistance is at $1,203 and next at $1,211. Support is at $1,190 and next […]
EUR/USD had a volatile night as expected after the FOMC. Prices tried to move back above 1.18 but got rejected. We warned that another rejection at 1.18 would be a bearish sign. EUR/USD is now nearly 100 pips lower. Green line – important short-term support Dark blue dots – maximum strength support EUR/USD has touched […]
USDJPY has reversed to the downside after printing a new two-month high of 113.12 in Wednesday’s trading session, posting a double top formation. Despite the latest pullback though, the pair has not posted a fresh lower low, which makes one hesitant to trust further strong declines for now. However, a short-term bearish correction is possible. Looking at momentum indicators, […]
The Fed left mixed feelings, which makes it difficult for the currency market to take direction. Today in the morning EUR loses bad news from Italy; CAD is under pressure through prolonged NAFTA negotiations, and NZD has not received new guidelines from a neutral RBNZ. Today in the morning EUR is losing in connection with […]
The New Zealand Reserve Bank left the main OCR rate at 1.75%, and did not change its approach to its monetary policy. However, the global investors have learned some details about the future movements of the central bank. RBNZ expects that the interest rate will not be changed until 2020 inclusive. Both the increase and […]
The FOMC meeting ends with a rate hike up to 2.00-2.25$ and maintaining the current view on the prospects of the economy and the optimal shape of monetary policy. As expected, the fragment referring to the “accommodative” nature of monetary policy was removed from the statement. In that situation, the global investors expect another hike […]
The new report published by the Bank for International Settlements (BRM) showed a strong correlation between the prices of cryptocurrencies and novelties regarding the intervention of supervisors. According to the BRM report – an organization based in Switzerland consisting of 60 central banks – cryptocurrencies have close links with news about regulatory actions in different […]
