USD/CHF has been quite bearish but volatile with the momentum recently after breaking below 0.9700 area with a daily close. USD has been dominated by almost all majors recently, whereas CHF has been the quite impulsive for a few weeks. Today SNB Libor Rate report was published with an unchanged value of -0.75% and Trade […]
AUD/JPY has been impulsive and non-volatile with the recent bullish gains which is expected to push further upward in the coming days. As JPY has been quite worse with the recent economic reports, AUD managed to sustain the bullish pressure in the pair. Recently the minutes of the lateat policy meeting of the Reserve Bankof […]
Bitcoin – alongside most digital coins – has had a tough month in September so far, weighed down by pessimism that institutional money will probably take longer than previously thought to enter the crypto market, among other factors. With a Bitcoin-linked ETF now also looking unlikely to be approved by US regulators anytime soon, the […]
Trading recommendations: According to the H1 time – frame, I found that price rejected from the supply trendline in the background, which is a sign that buying looks risky around the level of $6.450. I also found an intraday support trendline and my advice is to watch for a breakout fo confirm a further downward […]
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3287. According to the H4 time – frame, I found a rising channel and the price is respecting the lower diagonal of the channel. The macd is showing us strong upward momentum. It is very risky to watch for any selling […]
Japanese inflation data for August will be hitting the markets on Thursday at 2330 GMT. The figures are expected to confirm that the Bank of Japan remains far off from achieving its inflation target and barring a significant deviation from analysts’ forecasts, they’re unlikely to spur considerable movements in yen pairs. What is instead likely […]
The UK 100 index jumped above the 50.0% Fibonacci retracement level of the upleg from 6760 to 7905, around 7333, during Wednesday’s session. Currently, the price remains slightly above its opening level, however, the technical indicators are standing in the negative zone. The RSI is edging slightly higher below 50 level and the MACD has jumped above its trigger […]
GOLD BULLION crept higher against a falling US Dollar in London trade Thursday, edging up to new highs for this week at $1207 per ounce but flirting with new multi-year lows in terms of other major currencies. The UK gold price in Pounds per ounce fell within £6 of its post-Brexit referendum low, briefly […]
• NZDJPY broke daily down channel • Further gains are likely NZDJPY continues to rise after the earlier breakout of the resistance trendline of the daily down channel from June (which encloses the most of the active medium-term impulse sequence (C)). The breakout of this down channel should accelerate the active short-term corrective wave 4 […]
• Palladium rising sharply • Further gains are likely Palladium has been rising sharply in the last few trading sessions following the earlier breakout of the round resistance level 1000.00 (which was mentioned in our earlier forecast for this instrument). The breakout the resistance level 1000.00 accelerated the active short-term impulse wave 5 – which […]
The Swiss National Bank (SNB) will release its monetary policy statement today. This will be an important decision for one of the most important central banks in Europe. Traders expect that the bank will leave interest rates unchanged at minus 0.75% and the target range for the three-month Libor between -1.25 percent and -0.25 percent. […]
In recent weeks, the sentiment for the cable has turned positive. This is attributed to the recent developments on Brexit which has been supported by strong economic data. Three weeks ago, a war of words between Theresa May and Michael Breiner emerged, threatening a no-Brexit deal. In a statement, the chief EU Brexit negotiator said […]
The New Zealand dollar rose today after data from the statistics office showed that the GDP expanded at a faster rate than traders had expected. In the second quarter, the economy expanded at an annualized rate of 2.8%, which was faster than the 2.5% the traders were expecting. This was also higher than the average […]
The new tariffs, which the Trump administration introduced against imports from China for goods totaling $ 200 billion, will come into effect on 24 September. The increase in duties by 10% is a milder measure than previously announced 25%, however, the markets did not perceive the decline in the expected threshold as a readiness of […]
The recent bearish momentum of the GBP/USD has shown signs of weakness since September 5 when an ascending bottom was established around 1.2800 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 […]
Here are the latest developments in global markets: FOREX: British retail sales beat expectations today rising by 0.3% m/m in August, above the -0.2% forecasted, from 0.9% m/m in the preceding month. Yearly, retail sales advanced by 3.5% instead of 2.5% predicted and versus 3.8% in July, driving pound/dollar higher by 1.10% to a fresh 2-month high of 1.3288. […]
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 […]
Overview: 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 508% Fibonacci retracement level on the H4 chart. The price is likely to form a double bottom in the […]
Analysis of wave counting: During the trades on September 18, the GBP / USD currency pair lost just a few points and as a whole, remains in the stage of constructing the supposed third wave of the new upward trend section. The completion of the construction of this wave is still expected, and the section […]
Analysis of wave counting: During the trades on Tuesday, the currency pair EUR / USD lost about 20 percentage points. The wave pattern on the instrument has not changed at all in recent days. Attempts to break through the level of 0.0% on Fibonacci was not, thus, doubts about further increases in quotations are available. […]
Overview: The USD/CAD pair has faced strong resistances at the levels of 1.2969 because support had become resistance on September 17, 2018. So, the strong resistance had already formed at the level of 1.2969 and the pair is likely to try to approach it in order to test it again. However, if the pair fails […]
Overview: The market is still trading above the pivot point (0.9689). 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 strong […]
Canadian inflation and retail sales figures for August and July respectively are due on Friday at 1230 GMT. Market participants currently assign a near 80% chance for a rate hike by the nation’s central bank during its late October meeting, with a data beat having the capacity to seal the deal for such a move, […]
NZDUSD has been edging higher over the last three days, heading above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. The price reached a new three-week high of 0.6662 earlier in the day, while the technical indicators are confirming the recent bullish bias in the short term. The RSI indicator entered the overbought zone, […]
The flash PMI releases for the Eurozone are due on Friday at 08:00 GMT but the indicators are not expected to inject much life into the single currency as growth in the region remains moderate at best. IHS Markit’s PMI gauges for the euro area’s manufacturing and services sectors have been losing steam since the […]
Here are the latest developments in global markets: FOREX: The dollar index is down by 0.10% on Thursday after ending the previous session practically unchanged, failing to capitalize on a sustained surge in longer-term US bond yields. In the UK, the British pound had a turbulent ride amid Brexit news. Meanwhile, commodity-linked currencies such as the loonie, aussie, […]
EUR/USD is below very important long-term resistance. If EUR/USD manages to break and hold above 1.17-1.1730 area, we should expect a big upward move to unfold over the coming weeks towards 1.19-1.21. A rejection however and a break below 1.1620 will be a very bearish sign. Red line – long-term resistance Blue line – long-term […]
American markets ended trading on Wednesday with a slight increase. Asian bourses also experienced growth at the opening, but it was quickly replaced by increased pressure. As a result, at the time of writing Nikkei225 loses 0.6%, Heng Seng has fallen by 0.8%. Futures for S&P500 have lost 0.1% on Thursday morning, being near 2910 […]
USDJPY approached overbought levels according to the RSI and the Stochastics and pulled back after touching a two-month high of 112.44 on Wednesday, which is also a shy above the 78.6% Fibonacci retracement of the downleg from 113.15 to 109.76. In the short-term the trend is likely to hold on the upside as the price continues to […]
On 22nd October one of the biggest financial exhibitions opens its doors to event guests in Egypt, the Cairo Investment Expo, which XM will be proud to attend as Diamond Sponsor. The reputable Cairo Investment Expo is an event series due to be organized at City Star Intercontinental Cairo Hotel on 22-23 October 2018, which […]
