Here are the latest developments in global markets: FOREX: The Japanese yen remained under pressure versus the US dollar as the 10-year US government bond yields reached fresh 4 ½-year highs at 3.10%. Dollar/yen returned to 112.88 (+0.08%) after peaking as high as 112.96 early today, the highest since July 19, while the dollar index stood […]
The Reserve of Bank of New Zealand (RBNZ) will be deciding on interest rates on Wednesday at 2100 GMT. The central bank is expected to hold rates steady at 1.75% and the meeting will be accompanied by a press conference by Governor Adrian Orr, and thus the focus will be on the statement for any […]
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3160. Anyway, according to the M15 time – frame, I found a breakout of the intraday support trendline, which is a sign that buying looks risky. I also found a hidden bearish divergence on the LBR 3/10 oscillator, which is another […]
Overview: The USD/CAD pair will continue rising from the level of 1.2927 in the long term. It should be noted that the support is established at the level of 1.2927 which represents the daily pivot point on the H1 chart. The price is likely to form a double bottom in the same time frame. Accordingly, […]
Overview: The market is still trading above the major support of 0.9651. It continued to move downwards from the level of 0.9689 to the bottom around 0.9651. Today, the first resistance level is seen at 0.9728 followed by 0.9776, while daily support 1 is seen at 0.9651. The USD/CHF pair broke support which turned to […]
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, […]
On September 13, The GBP/USD pair was testing the depicted downtrend line which came to meet the pair around 1.3025-1.3090. 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 zone to […]
Here are the latest developments in global markets: FOREX: The dollar index is higher on Tuesday, albeit by less than 0.10%, looking to extend the marginal gains it posted in the previous session. Meanwhile, the euro spiked higher after ECB chief Mario Draghi struck a more upbeat tone with regards to the bloc’s economic outlook. The […]
Morning Report: 07.00 London This morning, the dollar is back in control amid general uncertainty in other safe haven regions. The AUD/ USD is weak again for the second straight day as Chinese stock markets slump and Australia catches a cold by proximity. The euro is holding up ok following ECB President Draghi’s speech which […]
Gold price continues to trade around $1,200. Price bounced off the $1,192 low towards $1,203 as a back test of the broken resistance and got rejected. Gold bulls need to break above $1,211 for a move higher. As long as price is below that level, they are in danger of seeing another sell off. Red […]
EUR/USD remains in a bullish trend. Price pulled back yesterday towards 1.1730 for a back test of the break out area that is now support. Prices moved higher towards 1.18 as expected but ended the day back below 1.1760. EUR/USD bulls need to break yesterday highs. Red line – neck line support Blue line – […]
On Tuesday, the 25th of September, the event calendar is light in important data releases. During the London session, Germany will post Wholesale Price Index data and during the US session, the US will present Consumer Confidence and Richmond Fed Manufacturing Index data. There is a speech from Member of the Executive Board of the […]
The economic crisis in Argentina prompts investors to buy Bitcoins to protect their wealth. At the same time, to meet the growing demand, the first of the 12 BTC ATMs has already begun operating in a shopping center in Buenos Aires. The number of shops that accept Bitcoin is also growing steadily. As the domestic […]
The wave pattern of the H4 graph: Since March 23, we can state a change in trends on Japanese yen major pair on the chart. The wave has a very high level and will eventually become the first part of the larger-scale upward movement of the pair. The wave pattern of the H1 graph: The […]
GBPUSD erased some of Friday’s significant losses yesterday and still remains above the 23.6% Fibonacci retracement level of the downleg from 1.4375 to 1.2660. The buying interest following the rebound on the 1.2660 support level has shifted the bearish outlook to a neutral one. Moreover, the 20-day simple moving average (SMA) created a bullish crossover with […]
24-hour timeframe For four days out of five last week, the EUR / USD currency pair stood still. Only on Thursday trading ended with a very solid growth of the European currency amid a new wave of rumors that the EU and Britain will still manage to agree on Brexit. As we have already noted, […]
4-hour timeframe The amplitude of the last 5 days (high-low): 80P – 73p – 65p – 116p – 70p. The average amplitude over the last 5 days: 81p (87p). The first trading day of the week was quite active. The euro updated Friday’s high, intending to continue the uptrend. On this day, trade duties totalling […]
Wave pattern of the H4 chart: The main direction of the trend since February this year moves the quotations of the euro major downwards. The price has reached a large-scale support zone. Wave pattern of the H1 chart: Since mid-August, the direction vector indicates an upward section. The first part of the wave zigzag of […]
Global trade and political conflicts are again the focus of the currency market. By a surprising coincidence, the situation has worsened on almost all “fronts”: the US-China talks broke down, the situation on Brexit reached a deadlock, and the deal between Washington and Ottawa on NAFTA has not yet been renegotiated. As a disappointing background, […]
To open long positions for EURUSD, it is required: The European currency recovered its position in the pair with the US dollar after the release of a good report on the indicator of the business environment from the IFO. Consolidation at 1.1763 maintains upward potential, and as long as trade is above this level, the […]
Can the central bank normalize monetary and credit policy, macroeconomic statistics improve, and the currency fall? Maybe if the weight is attached to its feet by politics. It would seem that the positive signals from GDP, average wages and retail sales should have given the pound an acceleration, because the timing of the next increase […]
This week, trade will be one of the most important topics in the financial markets. This is because traders will pay close attention to the new developments in the market after the decision by China to abandon all trade talks with the US. This decision came after the US issued sanctions on China for military […]
The Swiss Franc is continuing the downward momentum that started last week after the decision by the Swiss National Bank. In the monetary policy meeting, the central bank said that while the economy was doing well, the accommodative monetary policy was likely to continue for the foreseeable future. This policy has led to the economy […]
This weekend, China announced that it would halt all trade negotiations with the United States. This happened after the US issued sanctions on China for its purchases of Russian military equipment. This was a blow to free traders who hoped that the two countries would come to a deal. Over the weekend, China summoned its […]
EURAUD recorded a stunning rally today, advancing above the 20-day simple moving average (SMA). The RSI is currently increasing positive momentum as it stands above its threshold of 50, hinting that the next move in prices could be on the upside rather than on the downside. The bullish signals are even stronger from the stochastic oscillator as the blue % […]
GOLD PRICES moved sideways in quiet trade on Monday as the Dollar held firm ahead of this week’s widely-expected interest-rate rise from the US Federal Reserve. Moving barely 1% away from $1200 per ounce over the last month, gold again stuck to that price as world stock markets slipped. Tokyo and Shanghai were […]
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, […]
Here are the latest developments in global markets: FOREX: After China canceled planned trade talks with the US on Saturday and new import tariffs took effect, Chinese officials reiterated on Monday that Beijing is ready for a new round of negotiations only if the talks are based on mutual respect. Investors, though, remained positive on the dollar […]
Trading recommendations: According to the H1 time – frame, I found that Bitcoin might finish that current downward correction (abc flat) near the level of $6.565. The level of $6.555 is a strong support because it is also the swing high from the background. Be careful when selling Bitocin at this stage. My advice is […]
