• CHFJPY broke key resistance level 117.00 • Further gains are likely CHFJPY continues to rise after the earlier breakout of the key resistance level 117.00 – which accelerated the active short-term impulse wave 3 from the start of September. The active impulse wave 3 is a part of the medium-term impulse wave (3) from […]
Here are the latest developments in global markets: FOREX: The dollar’s index against a basket of six major currencies traded higher by 0.1% after touching its lowest since early July of 93.81 earlier on Friday. Still, the index mostly consolidated yesterday’s considerable losses. Dollar-advancing on Friday was most evident against the yen and sterling. The […]
The US 500 index reached a fresh all-time high of 2939.20 earlier today and has been stuck in a channel titled to the upside since April 2. The bullish picture seems to be overstretched as the RSI indicator is flattening near the 70 level, however, the MACD oscillator posted a bullish crossover with its trigger […]
The September meeting of the Swiss Central Bank passed quietly and imperceptibly. The summit in Salzburg, US-China relations and events on the oil market overshadowed the meeting of the members of the Swiss regulator. Traders did not expect any unexpected moves from the SNB, and their expectations were fully justified. The central bank repeated the […]
Recently, Gold has been trading sideways at the price of $1,205.30. Anyway, according to the H1 time – frame, I found potential ending of the upward correction (abc flat) in the background, which is a sign that buying looks risky. I also found the breakout of the most recent support trendline, which is another sign […]
PLATINUM PRICES outpaced gold and silver again on Friday in London, extending this week’s rally against the falling US Dollar to 5.1% as world stock markets also rose. China’s stock market jumped over 3%, hitting 4-week highs as analysts said Beijing has built a strong economic “cushion” against its worsening trade war with 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. Recently, the price level of 1.1500 offered temporary bullish recovery towards 1.1830. The EUR/USD bulls failed to pursue towards higher bullish targets. Instead, a descending high was established around 1.1800. On […]
Previously, The GBP/USD pair was testing the depicted downtrend line which came to meet the pair around 1.3025-1.3090. This week, 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 […]
Hence, the market is indicating a bearish opportunity below 1.2969 so it will be good to sell at 1.2969 with the first target of 0.9965. It will also call for a downtrend in order to continue towards 1.2796. The daily strong support is seen at 1.2796. On the other hand, the stop loss should always […]
Overview: On the one-hour chart, 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 […]
To open long positions for EUR / USD, you need: Yesterday’s breakthrough of large resistance has led to new highs, but today, it is necessary to act with caution. Only a breakout and consolidation above the resistance level of 1.1788 will lead to a new upward wave with the aim of testing a maximum of […]
GBP / USD The British pound, like last week, became the pioneer in the growth of counter-dollar currencies. Formally, the growth of the pound by 125 points occurred on data on the increase in retail sales in August by 0.3% against the forecast of -0.2%, as well as on some of the worst data for […]
The biggest news this week was about trade. On Tuesday, the US moved to apply a ten percent tariff to imported Chinese goods worth more than $200 billion. While this was an anti-trade move, the markets reacted in awe because the tariffs were less than the 25% traders were expecting. The decision by Trump came […]
Yesterday, the Swiss National Bank released its interest rates decision. As expected, the bank left interest rates unchanged and signalled that the negative interest rates would remain unchanged for a considerable amount of time. In the previous four meetings, the bank had said that it believed that the franc was overvalued. In yesterday’s monetary policy […]
This week, the US administration escalated its trade fight with China by imposing tariffs worth more than $200 billion. China responded by placing tariffs worth $60 billion. To free traders, this was a bad week because increased tariffs reduces the amount of trade between the two countries. Also, the tariffs will not help the US […]
USDCAD dipped aggressively over the previous consecutive three days, which have taken the pair below the 20- and 40-simple moving averages (SMAs). The sharp sell-off, drove the pair below the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3385, near 1.3072. The momentum indicators are supportive of the bearish picture in the short-term, […]
Morning Report: 07.00 London This morning, markets continue to shun safe havens, pushing the dollar and yen lower despite the prospect of a US rate hike next week. Demand for safe havens continue to weaken with many yen pairs hitting their highest levels since May. The EUR/JPY is one of the strongest performers with the […]
Here are the latest developments in global markets: FOREX: The dollar index is higher by a marginal 0.05% on Friday, recouping some of the significant losses it posted in the previous session as risk appetite remained firm and investors pared back more of their safe-haven bets on the US currency. The haven-perceived yen was also […]
GBPJPY recorded an impressive rally on Thursday, closing above the 200-day (simple) moving average (MA) for the first time since May. The pair continues its bullish run today, printing fresh highs above the previous peak of 149.29. An indication that the rebound off 139.88 could hold for longer in case the price manages to finish […]
Dollar weakness yesterday helped Gold rise towards its August highs and major short-term resistance and upper channel boundary. Longer-term trend remains bearish. Gold price is at major short-term resistance. Red line – resistance Blue line – short-term support Green lines – bearish channel Gold price is trading near short-term resistance at $1,210. Here we also […]
EUR/USD has broken above resistance of 1.1730 yesterday and is now trading around 1.1770. Trend remains bullish. This break out is a bullish sign and suggests that any pull back should be bought as we should be heading towards 1.19-1.21. It is important though that price does not fall below 1.1660. Black line – resistance […]
On the markets peace and maintaining positive moods dominate. Asian indices are recording a rise once again. In the currency market, the main move is the weakening of the yen and the increase in USD / JPY from 112.5 to 112.75. Among other main currencies, there is not much volatility. The EUR / USD exchange […]
The Japanese National Police Agency revealed that in the first half of 2018, crypto assets worth 60.303 billion yen ($ 540 million) were stolen. The agency claims that 158 incidents of theft of cryptocurrencies were reported during the first half of this year, which is three times as high as the number of incidents reported […]
The European currency remained trading in a wide side channel, not receiving support from major players after the attempt to break the resistance in the area of 1.1725, which led to a rapid decline in risky assets and the update of the lower limit of the channel of 1.1650, but more on this below. Fundamental […]
EUR / USD pair Players on the rise cannot overcome the resistance levels, but they do not give up in testing the lower boundaries of the key zone of the site every day (1.1708-50). Breakdown of the zone or a retreat from it will bring the winner a preponderance of forces in the confrontation and […]
To open long positions for EUR / USD pair, you need: Yesterday, the market was traded in the side channel and the buyers could not do anything with monthly highs once again, so you need to be extremely cautious. It is better to consider new long positions after returning and consolidating above the middle of […]
Despite the throwing from side to side, the situation in the foreign exchange market, in fact, remained unchanged. At the beginning of the day, the dollar lost its position, as the inflation data in the UK were not just better than forecasts, but incredibly good. Instead of slowing from 2.5% to 2.4%, inflation rose to […]
The Bank of Japan did not present any surprises at its September meeting, confirming its commitment to its previous course. Haruhiko Kuroda praised the moderate growth of the country’s economy, but stressed that the current parameters of monetary policy will operate for a long time. The yen has completely ignored this fact, and it is […]
Good data on retail sales in the UK supported the British pound in the morning, which resumed its upward trend against the US dollar, reaching 2 highs. On the one hand, the report indicates that the pace of retail sales in the UK slowed, however, on the other hand, the data came out better than […]
The European currency paired with the dollar follows the dynamics of the pound again, demonstrating a high correlation dependence. A few months ago, traders of the EUR/USD pair reacted rather apathetic to the events surrounding Brexit, and often completely ignored this topic. But as soon as Brussels and London began to reach the finish line […]
