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 […]
Recently, the USD/CAD pair has been trading downwards. The price tested the level of 1.2884. Anyway, according to the H4 time – frame, I found that price rejected from the strong support at the price of 1.2887 (bottom of the channel and previous swing low), which is a sign that selling at this stage looks […]
Overview: The GBP/USD pair continues moving in a bullish trend from the support levels of 1.3052 and 1.3159. Currently, the price is in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. As the price is still above the moving average (100), immediate support […]
Overview: Pivot point : 0.7267. The AUD/USD pair will be probably continue to rise 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 […]
Burning Forecast 09/24/2018 EURUSD: The signal for growth has not been cancelled. On Monday morning, the euro is in correction to the previous growth. Growth is not cancelled. The main event of the week – today the US will introduce new duties against China for $200 billion. On Wednesday, the Federal Reserve’s decision. We keep […]
Trading plan 24.09.2018 Overall picture: week of important news. On Wednesday, the Federal Reserve’s decision on rates – we expect an increase of +0.25%, but most importantly – the text of statement of the Fed. On Monday, new US duties against China come into effect for $200 billion – and probably, China’s retaliatory tariffs of […]
Gold price got rejected at the $1,210 resistance and broke below $1,200. We warned last week that prices were testing the important upper channel and previous highs at $1,211 and the danger of a rejection was high. The rejection and the break below $1,200 was a very bearish sign. Red line – resistance trend line […]
EUR/USD as expected by our last analysis is pulling back for a back test of the break out area. Holding above 1.17 will be critical for the medium-term trend. A false break out and a move below 1.1670-1.1680 will be a very bearish sign. Blue lines – support trend lines EUR/USD is pulling back towards […]
According to Ewald Nowotny, the European economy is in very good condition, and monetary policy is not keeping up with it, it is still in the mode of deep crisis. In the euro area as a whole, price stability has been achieved. In the current situation, policy normalization seems to be the best solution and […]
Several large Russian banks have expressed their strong interest in cooperating with the cryptocurrency industry and Blockchain during a closed-door meeting held at the Moscow Stock Exchange. Demand for cryptocurrencies in Russia is very high, but banks are unable to meet this demand due to the lack of clearly defined provisions. For this reason, representatives […]
USD/CHF is testing its resistance at 0.9604 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.9554 (horizontal swing low support) is expected. Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding drop is expected. USD/CHF is testing its resistance where we expect to […]
NZD/USD is approaching its resistance at 0.6717 (100% Fibonacci extension, 38.2%, 61.8%, 23.6% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.6635 (38.2% Fibonacci retracement, horizontal overlap support) is expected. NZD/USD is testing its resistance where we expect to see a reversal. Sell below 0.6717. Stop loss at 0.6765. Take profit […]
EUR/NZD should stay above the peak of red wave i at 1.7488 for the next impulsive rally towards 1.8031. If an unexpected break below 1.7488 is seen, the we will have to make a recount of the rally from 1.6534 and count the rally as a series of waves ones and twos. This is not […]
Morning Report: 07.00 London The US dollar is buoyant ahead of Thursday’s FOMC meeting where rates are expected to increase to 2.25%. The dollar is out-performing this morning as traders bet on further rate hikes beyond Thursday. The main highlights include the British pound which is slightly lower this morning after heavy losses on Friday […]
USDCHF lost 4.8% after reaching its highest since May 2017 of 1.0067 around mid-July. It is currently trading not far above a five-and-a-half-month low of 0.9541 tracked on Friday. The Tenkan- and Kijun-sen lines are negatively aligned in support of a bearish short-term bias for the pair. Should USDCHF extend lower, support may come around […]
Gold prices have been developing within a narrow range over the last month with upper boundary the 1212.50 resistance level and lower boundary the 1187.55 support barrier. Also, the price still trades below the 20- and 40-period simple moving averages (SMAs) on the 4-hour chart. Notice that the RSI is mostly moving sideways below the 50 level and the MACD remains below both its trigger and […]
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 on Monday (+0.12%), looking set to extend the gains it recorded in the previous session. The safe-haven yen is also a little higher while risk-sensitive currencies such as […]
EURUSD has traded lower after the bounce off the 1.1800 strong psychological level on Friday, while it opened with a small negative gap in Monday’s European session. However, the pair remains in the inverse head and shoulders pattern with the neck line now being the aforementioned handle. In the short-term, the negative bias is likely to stay in place […]
EUR/JPY has rallied nicely and is well underway towards 134.07 and above towards the 136.06 – 136.50 zone. In the short-term, we expect support near 131.99 to be able to protect the downside for the next push higher towards 134.07. Support at 131.99 should be broken then a dip closer to 131.53 max will appear. […]
When the European market opens, some economic data will be released such as German Ifo Business Climate and Belgian NBB Business Climate. The economic calendar for the US is empty today. So amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.1807. Strong Resistance:1.1800. […]
Today, both Japan and the US will not release any economic data. So there is a probability the USD/JPY pair will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance. 3: 113.20. Resistance. 2: 112.98. Resistance. 1: 112.76. Support. 1: 112.49. Support. 2: 112.27. Support. 3: 112.05. Disclaimer: Trading Forex (foreign […]
EUR/USD has been quite impulsive with the recent bullish gains which lead the price to reside at the edge of 1.1750 after certain bearish retracement on Friday. USD struggle has been extended further which might lead to further bullish momentum in the pair leading to a continuation of bullish pressure in the process. This week […]
Statistics Canada reports that the Canadian Retail Sales in July are growing by 0.3% in monthly terms to the level of $ 50.9 billion due to higher sales of food, beverages and fuels. Market measurements that exclude the most volatile components of sales turned out to be much more important for the market. In this […]
On June 23, OPEC and non-OPEC producers known as OPEC plus decided to raise production by 1 million barrels per day after cutting supply for over two years. However, talks then did not specify how the supply increase would be allocated among participants, with OPEC plus oil producers arranging a meeting on September 23 in […]
All eyes will be on the Federal Reserve policy meeting in the United States next week as markets await the central bank’s response to a firming inflation outlook and rising global trade tensions. The Reserve Bank of New Zealand will too be holding a policy meeting. But it will be a more muted week for […]
Yesterday, the implementation of the priority upward model that allowed the pair to gain a foothold above the determining level of resistance at 1.1707. Any depreciation should be regarded as a correction. Strong growth during the Thursday European and American sessions allowed us to step out of the medium-term accumulation zone. Closure of the American […]
Yesterday’s growth led to the test of two important target zones. The weekly control zone of 1.3312-1.3288 was reached, located within the monthly CP of September. This fact significantly increases the likelihood of a large offer. Finding the price within the monthly CP indicates the need to close all purchases. The first support is the […]
Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1802. Anyway, according to the M30 time – frame, I found the fake breakout of yesterday’s high at the price of 1.1784, which is a sign of weakness. I also found a hidden bearish divergence on the MACD oscillator, which is […]
• Copper broke resistance zone • Further gains are likely Copper continues to rise after the earlier breakout of the resistance zone lying between the resistance level 272.00, 50-day moving average and the 50% Fibonacci correction of the previous sharp downward impulse 5 from July. The breakout of this resistance zone accelerated the active short-term […]
