Daily Outlook In April 2018, the EUR/USD pair outlook turned to become bearish when the pair pursued trading below the lower limit of the depicted consolidation range (1.2200). 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 […]
Breakdown of 0.7220-0.7170 (neckline zone) was needed for a bearish breakout of the depicted consolidation range (0.7170 and 0.7350). Quick bearish decline took place towards 0.6700-0.6800 where the narrow ranged consolidation range was established. On July 7, evident bullish rejection pushed the NZD/USD pair above 0.6820 temporarily. However, lack of bullish momentum made the bulls […]
The growth of the current week is an impulse, which allows considering purchases at the test of significant support zones. The main support is a control zone at 1.2815-1.2803, the test of which will give favorable prices for the opening of purchases. Yesterday, the pair reached the weekly control zone of 1.2925-1.2901, which allowed implementing […]
H4 The GBP / USD pair reversed in favor of the US dollar without the formation of a bearish divergence or rebound on the 4-hour chart. As a result, the drop in quotations could be continued on August 23 in the direction of the correction level of 261.8% at 1.2638. Brewing divergences are also not […]
Trading recommendations: According to the H4 time – frame, I found that BTC price rejected from the strong resistance zone ($6.803) in the background, which is a sign that buying looks risky. My advice is to watch for selling opportunities. The downward target is set at the price of $5.845. Support/Resistance $6.210 – Intraday resistance […]
The protocol of the FOMC meeting, published on Wednesday, did not contain any surprises, confirming the intention to raise the rate in September. The markets did not react to the publication of the protocol. On Thursday morning, the probability of a rate increase, according to the CME futures market data, is 96%, which can be […]
4h The currency pair EUR / USD on the 4-hour chart reversed in favor of the US currency, after the bearish divergence of the CCI indicator, and the fall to the correctional level of 50.0% – 1.1546. The cut-off of quotes from the Fibo level of 50.0% will allow traders to count on a turn […]
Here are the latest developments in global markets: FOREX: The dollar’s index versus a basket of currencies continued to trade higher on Thursday and is looking set to put an end the six-day streak of declines, its longest since February. The US currency is trading higher across the board, though excluding the Aussie, they’re not […]
Brent futures have surged over the previous five consecutive days following the rebound on the 70.25 level, which coincides with the 200-day simple moving average (SMA). Also, the price still holds above the 50-SMA and the technical indicators are moving in the positive territory. The MACD is advancing above the trigger line, however, the RSI is sloping slightly […]
Recently, the USD/CAD pair has been trading upwards. The price tested the level of 1.3047. According to the M30 time – frame, I found broken support trendlines in the background, which is a sign that buyers are in control. I also found rejection from a strong support pivot cluster around the price of 1.2985. My […]
Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2849. According to the M15 time – frame, I found a potential double top pattern in the background, which is a sign that buying looks risky. I also found rejection from pivot cluster at the price of 1.2910 (weekly R2), which […]
Published on Wednesday, the minutes of the last meeting of the Federal Reserve on monetary policy clearly showed that at the September meeting on the 26th, the regulator is going to once again raise interest rates by 0.25%. The minutes of the meeting showed the Fed’s clear intention to raise interest rates at the September […]
The price of crude oil continued the gaining streak after data from the Energy Information Administration (EIA) showed reduced stockpiles. The data released yesterday showed that the amount of crude oil in storage declined by 5.8 million barrels. This was higher than the 2 million drop analysts were forecasting. It was also higher than the […]
The Federal Reserve released the minutes for the meeting held on July 31st and August 1st. The minutes were highly anticipated of the recent happenings in the United States. In the past month, the US president has attacked the Fed for increasing interest rates. In his thinking, the Fed is working against his agenda for […]
NZDUSD has been creating a pullback since yesterday after it challenged the medium-term descending trend line near the 0.6720 resistance level. However, the pair has found immediate support at the 20-simple moving average (SMA) in the 4-hour chart and the technical indicators are focusing for bearish movements as well. Looking at the near-term picture, the stochastic oscillator […]
Morning Report: 07.00 London The Australian dollar is struggling as the Australian government seeks to control the chaos of a potential coup. The AUD/USD is down 0.84%, with the AUD/JPY off by 0.57%. The US dollar is stronger overall, reversing the gains made over the last seven days. The EUR/USD has reversed yesterday’s gains, while […]
The Australian dollar fell overnight as political crisis continued in Australia. The crisis started two years ago when the current Australian prime minister, Malcom Turnbull survived a leadership challenge from one of his ministers, Peter Dutton. Early today, three more ministers in the government decided to resign and move to the backbench as Dutton prepares […]
Here are the latest developments in global markets: FOREX: The dollar was 0.2% higher against a basket of currencies on Thursday after declining for six straight days. Potential catalysts for the currency’s direction during the remainder of the week are ongoing developments on the trade front and the Jackson Hole summit that will feature influential […]
Overview: Pivot : 0.7359. The AUD/USD pair continued to move upwards from the level of 0.7300. Since yesterday, the pair has risen from the level of 0.7299 (the level of 0.7299 coincides with the ratio of 38.2% Fibonacci Expansion) to the top around 0.7359. In consequence, the AUD/USD pair broke resistance at 0.7329, which turned […]
Overview: The GBP/USD pair rose from the level of 1.2854 towards 1.2936 yesterday. Now, the current price is set at 1.2883. On the H1 chart, the resistance is seen at the levels of 1.2936 and 1.2973. Besides, the weekly support 1 is seen at the level of 1.2817. Today, the GBP/USD pair is continuing to […]
EUR/USD has broken above 1.16 yesterday giving hopes for a bigger reversal to the upside and a long-term low, but the price got rejected and pulled back below 1.16. We are now at key resistance area and a rejection here will imply that EUR/USD is going to see new 2018 lows. Red lines – resistance […]
The Gold price made a short-term spike above $1,200 but price soon after pulled back as expected towards $1,190. The price has broken out and below of the short-term bullish channel and is now pulling back. We cannot say confidently if a major low is in or this bounce was part of the larger decline […]
The American dollar adds to major competitors after publishing FOMC minutes of the previous meeting. The dollar index adds 0.4% in response to the protocols to the July meeting, when the Committee members have discussed further policy of interest rate tightening. This news helped the American currency to turn to growth after five trading sessions […]
USDJPY reversed higher after touching an almost two-month low of 109.75 on August 21 but remained below the 20- and 40-day simple moving averages (SMAs). Moreover, the technical indicators showed some improvement as well, endorsing the short-term bullish structure, with the RSI edging higher towards its neutral threshold of 50 and the MACD gaining positive momentum to climb above […]
Today’s night was extremely interesting for people following the situation in the Pacific and Asian countries. The main topic is the situation in Australia where plenty of things happened. On Thursday, the 23rd of August, the event calendar is quite busy with important data releases. during the European session, investors’ eyes will be directed to […]
The Google Play store on Android has recently become the home of another application for the Ethereum fraud. Lukas Stefanko, a malware researcher from Slovakia, found a fake application called “Ethereum” on Google Play, which was offered at a price of 335 euros or about 388 dollars. In yesterday’s tweet, the researcher pointed out that […]
Bank in Liechtenstein, Union Bank AG announced in a press release that it is issuing its own security tokens and an internal cryptocurrency supported by Fiat. Union Bank, which this year is increasingly focused on Blockchain, said the issue of the so-called “Union Bank Payment Coin (UBPC)” was the next step towards becoming a “full-service […]
When the European market opens, some Economic Data will be released such as Consumer Confidence, Flash Services PMI, Flash Manufacturing PMI, German Flash Services PMI, German Flash Manufacturing PMI, French Flash Services PMI, and French Flash Manufacturing PMI. The US will release the Economic Data too, such as Natural Gas Storage, New home sales, Flash […]
In Asia, Japan will release the Flash Manufacturing PMI data, and the US will release some Economic Data such as Natural Gas Storage, New Home Sales, Flash Services PMI, Flash Manufacturing PMI, HPI m/m, and Unemployment Claims. So there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S […]
Nothing much to say here. The range-trading between 1.7211 to 1.7355 continues. We expect short-term important resistance at 1.7355 to be broken soon. A break above this resistance will open up the upside as red wave iii really starts to develop towards 1.7924 and 1.8369 as the next important upside targets. That said, we need […]
