USD/CAD has been quite impulsive with the recent bearish momentum which lead the price to reside at the edge of 1.2950 area from where a daily close below will lead to further bearish momentum. As the US has been struggling amid recent economic reports and trade war tensions with Canada, the market sentiment is currently […]
EUR/JPY has been quite impulsive with recent bullish gains after breaching above 129.50 and retesting it as support for a further climb. EUR is currently trying to regain strength during the global financial crisis which triggered certain volatility for banks around the world. EUR has proved to be quite strong enough to sustain the momentum […]
Despite the expansion of tariffs between China and the United States, global markets remain positive. MSCI Asia ex Japan adds 0.7% this morning; Hong Kong’s Heng Seng increases by 1.1%, although China announced the introduction of 5-10%-tariffs for the U.S. imports of up to $60 billion. S&P500 added 0.5% on Tuesday to the levels above […]
AUDUSD continues to attract buying interest for the third consecutive day, crawling up to 0.7254 early on Wednesday, the highest since the end of August. The RSI improved further but is still below its 50 neutral mark, a sign that negative risks are still in the background, while Stochastics support that the rally is overdone […]
On 15th September, the XM education provided for online investors in various countries of South America reached the Peruvian capital, Lima, where we were extremely pleased to welcome event guests to a free seminar on CFD trading. Professional instructor Jarek Duque’s engaging presentation on CFD trading techniques was attended by a large number of traders […]
The Bank of Japan kept the interest rate at -0.1% as expected. The bank introduced a negative interest rate in January 2016. On Wednesday, the bank did not change any other benchmark and the profitability target of 10-year JGB is at the level of approx 0.0%. BoJ has kept its forward guidance for interest rates […]
A series of messages from Washington and Beijing has confused financial markets and shows how trade in major currencies has become particularly unpredictable and difficult. USD is in retreat, and risky assets are doing better, though for bad reasons. According to the announcements, the US presented a list of goods imported from China worth USD […]
On Wednesday, the 19th of September, the event calendar is light on important data releases. The UK will post Consumer Price Index data, Eurozone will post Current Account data and the US will present Building Permits, Housing Starts and Crude Oil Inventories data. There is a speech by ECB President Mario Draghi scheduled at 02:00 […]
According to the published draft, the Verkhovna Rada of Ukraine proposed a bill that would enter into force the tax on operations using cryptographic assets. The tax law, which was initiated by 23 civil servants, suggests a five-percent tax on natural and legal persons who use virtual currency assets, such as cryptocurrencies and tokens. From […]
What looked like the development of a triangle, was quickly destroyed. With the break below minor support at 1.7712, a final dip closer to 1.7594 remains possible before the next impulsive rally occurs towards 1.8030 on the way higher towards 1.8369. Only a direct break above minor resistance at 1.7783 will indicate that red wave […]
We have now seen the expected break above 131.11, which indicates more upside pressure towards 131.99 on the way to the longer term target at 136.50. Support is now seen at 130.66 and again at 130.28. The later needs to protect the downside or else a small expanded flat is developing and a dip to […]
USD/CAD bounced nicely off its support level at 1.2969 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance level at 1.3010 (50% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) is bounced off its support level at 3.5% where a corresponding rise could occur. USD/CAD bounced […]
The oil market is no stranger to living in a constant state of tug of war. If last year it was about reducing OPEC production, on the one hand, and increasing the production of oil in the United States – on the other, now only the actors have changed. Since the announcement of US sanctions […]
The pound/dollar pair on the weekly chart approached an important resistance level of 1.3160 (the average line of the Bollinger Bands indicator on W1), an overcoming of which will open the way for the bulls of the pair to the 33rd figure – to the lower border of the Kumo cloud. Also, the weekly timeframe […]
After an upbeat report on wage growth last Tuesday, consumer prices and retail sales out of the UK are the next in line to drive the British pound this week. Surprisingly, average earnings picked up speed in July, outstripping inflation for the fifth consecutive month, a sign that purchasing power could widen in the coming […]
Bitcoin has been quite volatile and counter impulsive today after the strong bearish momentum which started after the price had been rejected off the $6,500 area with a daily close. The price is currently residing near the 50% retracement area of the previous impulsive bearish momentum and from where the price started to push lower […]
Dear colleagues. For the EUR / USD pair, the continuation of the movement upward is expected after the breakdown of 1.1696. We consider the movement downwards as a correction. For the GBP / USD pair, there is a high probability of movement into the correction from the upward structure. For the USD / CHF pair, […]
BTCUSD has been trading within a descending triangle pattern over the last seven months, with a strong support obstacle being the 5780 barrier. Moreover, the price started an aggressive bearish structure after the pullback from the all-time high of 19384 reached in December 2017 That said, technical oscillators paint a somewhat neutral picture currently. In the short-term, the RSI indicator is sloping […]
West Texas Intermediate (WTI) crude oil futures traded sharply higher today after the bounce off the 68.50 resistance level, which overlaps with the 38.2% Fibonacci retracement level of the downleg from 75.24 to 64.40. However, oil prices have been developing within a sideways range with the 69.80 resistance level as an upper boundary and lower boundary the 68.50 support. In the […]
The Bank of Japan (BoJ) will announce its policy decision during Wednesday’s Asian session, with investors anticipating no change to the Bank’s loose policy framework following some adjustments at the previous gathering. Instead, market focus may fall primarily on how officials perceive the escalation in global trade tensions, and to what extent these might affect […]
Here are the latest developments in global markets: FOREX: The US dollar moved higher by 0.26% against the Japanese yen but held below its intraday high of 112.27, while the US dollar index edged marginally higher by 0.09%. US President Donald Trump announced yesterday that his country will impose a 10% tariff on $200bn of Chinese goods from September […]
GOLD PRICES again held tight around $1200 per ounce in London trade Tuesday as the US Dollar retreated on the currency market and global interest rates eased back on a rise in government debt prices. Commodity prices edged higher but held near 2018 lows on Bloomberg’s index after the United States imposed a new […]
• GBPCHF reversed from resistance zone • Further losses are likely GBPCHF recently reversed down from the resistance zone located between the pivotal resistance level 1.2730 (which also reversed the price in August, as can be seen below), upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous downward impulse 1 from July. […]
• Palladium broke key resistance level 970.00 • Further gains are likely Palladium recently broke above the key resistance level 970.00 (which has reversed the price multiple times from the end of August, as can be seen below). The breakout of the resistance level 970.00 is following the earlier breakout of the resistance zone lying […]
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3170. Anyway, according to the H1 time frame, I found rejection of the yesterday’s high at the price of 1.3164, which is a sign that buying looks risky. I also found the hidden bearish divergence on the 3/10 oscillator and bearish […]
Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1717. Anyway, according to the M30 time – frame, I found rejection of resistance 1 at the price of 1.1713, which is a sign that buying looks risky. Besides, the price rejected from the upper Keltner band (resistance) and there is […]
The recent bullish movement of the EUR/USD pair ceased to be dominant since August 28. Lack of enough bullish momentum is demonstrated on the chart so that recent movement has turned into sideways consolidations. Earlier today, obvious bearish rejection was demonstrated around 1.1717. This allowed the current double-top reversal pattern to be demonstrated on the […]
The Australian Dollar rose after today’s economic data and minutes from the central bank. The house price index for the second quarter fell by minus 0.7%. This was a narrower decline than the 7.0% traders were expecting initially. This index measures the average house prices in the eight cities of Australia. In recent months, the […]
Last week, the price of corn fell sharply after the Department of Agriculture released the September World Agriculture Supply and Demand Estimates (WASDE) report. This is a report that is closely followed by traders in the agricultural commodities market because it gives an indication of the supply and demand dynamics. The price of corn declined […]
On 15th September it was our great pleasure to re-visit the Thai capital, Bangkok, with a forex and CFD trading seminar organized for online investors eager to enrich their trading knowledge with new day trading techniques. Our event guests joined the event on the premises of Swissotel Le Concorde Bangkok, where they had the exclusive […]
