To open long positions for EUR / USD pair, you need: Long positions in the euro can be seen after the decrease to the middle of the channel in the support range of 1.1600-1.1605. The formation of a false breakdown will allow us to count on the repeated growth of EUR / USD to the […]
Markets make a return on USD towards risky assets with the help of better information from emerging markets, while the disappointment of CPI from the US has covered the earlier optimism around the US economy. The stock market in Asia is in a reconstruction mode. Even though President Trump denied yesterday that he would be […]
On Friday morning, the demand for risks on the Asian bourses continues to recover. MSCI for Asia ex Japan is adding more than 1.2% this morning, having evolved the increase from 14-month lows to 2.8%. Hong Kong’s Heng Seng recovered to 1.5 week’s levels. Previously, we pointed out that the technical factors were in favor […]
This year, the dollar has moved up significantly against other currency pairs. It peaked in August when it rose by 5.66%. After that, the dollar has lost some of its gains. YTD, it has gained by 3.0%. The reason for the dollar’s gain was the hawkish nature of the Federal Reserve, which was boosted by […]
Here are the latest developments in global markets: FOREX: The US dollar index is nearly unchanged on Friday (-0.02%), holding on to the losses it posted in the previous session following a disappointment in the US CPI inflation data. The yen also retreated across the board, as risk appetite remained firm and investors rotated funds out of haven […]
USD/CHF has been quite impulsive with the recent bearish pressure which led the price to reside at the edge of 0.9550 to 0.9650 support area in the process. USD has been struggling for gains amid the recent soft economic data. On the other hand, CHF is unaffected by neutral data. Meanhwile, USD is extending weakness. […]
According to a circular published in the official Mexican daily newspaper all crypto exchanges and banks providing cryptographic services in Mexico will now be required to obtain authorization from the Bank of Mexico (Banxico). The letter entitled “General provisions on operations related to electronic payment funds” stated that Banxico is now responsible for issuing licenses […]
Red wave iv is working its way sideways to slightly down. We still think a dip to 1.7594 is possible, but be aware that all red wave iv needs to do is consolidate in a small sideways pattern before taking off higher again towards 1.8030 as the next sub-target on the way towards 1.8369. Support […]
EUR/JPY has rallied nicely and continues to confirm our bullish count and calls. The next upside target is seen near 132.20. This will likely cause some hesitation, but ultimately this sub-target should be broken for upside acceleration towards the next longer-term target at 136.50. Support is now seen at 130.41. This support will ideally be […]
GBPAUD is approaching its resistance at 1.8256 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.8172 (61.8% Fibonacci retracement, horizontal pullback support). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected. GBPAUD is approaching its resistance […]
NZDJPY is approaching its resistance at 74.11 (61.8% Fibonacci extensionx2, 61.8%, 38.2% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 73.19 (50% Fibonacci retracement, horizontal overlap support). Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected. NZDJPY is […]
When the European market opens, some economic data will be released such as Trade Balance. The economic calendar is packed with economic data from the US such as Prelim UoM Inflation Expectations, Business Inventories m/m, PrelimUoM Consumer Sentiment, Industrial Production m/m, CapacityUtilization Rate, Import Prices m/m, Retail Sales m/m, and Core RetailSales m/m. So amid […]
USDCAD has reversed to the downside this week, recording sharp losses following the bounce off the 1.3230 resistance level. Moreover, the pair plunged below the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3385 of 1.3072, and the 20- and 40-simple moving averages (SMAs) in the daily timeframe. However, since yesterday, the pair remains […]
In Asia, Japan will release the Revised Industrial Production m/m. The US will present a series of economic reports such as Prelim UoM Inflation Expectations, Business Inventories m/m, Prelim UoM Consumer Sentiment, Industrial Production m/m, Capacity Utilization Rate, Import Pricesm/m, Retail Sales m/m, and Core Retail Sales m/m. So there is aprobability the USD/JPY pair […]
The unexpected offer of Americans to resume negotiations with China on trade duties on Wednesday evening led to a surge of optimism in the markets and a local weakening of the US dollar. It seems that the US will not abandon the desire to “dent” China in the issue of the ratio of trade between […]
The Canadian dollar paired with the US currency on Wednesday tested the 29th figure, breaking a total of almost 200 points in three days. The downward impulse was triggered by positive rumors around the NAFTA negotiation process. Washington and Ottawa continue to discuss the terms of the renegotiation of the North American Free Trade Agreement. […]
To open long positions for GBP/USD, it is required: Buyers of the pound worked out the support level of 1.3028, which I paid attention to in my morning forecast, and now all the attention is focused on the breakthrough of the resistance of 1.3077, which could not be done even after the Bank of England’s […]
The key trading day of the week ends in favor of the European currency. The bulls of the EUR/USD pair did not miss the opportunity to seize the initiative and test the 17th figure. And although I doubt that this attempt will be successful, the “claim for victory” turned out to be very serious. In […]
EURUSD has broken above the major short-term resistance at 1.1660 and is now trading a few pips below 1.17. There is a bullish setup in EURUSD that will be valid on a break above 1.1740 and will give us 1.19-1.20 as the target area. Green line – support Red line – resistance (broken) Blue dots […]
Gold price broke above the $1,205 resistance today and reached $1,212. Despite Dollar weakness, Gold price pulled back down towards $1,200. It is important to hold above $1,200 in the short-term. Important medium-term support at $1,190 needs also to hold for $1,220 to be achieved. Green lines – bearish channel Dark green line- support Red […]
Morning Report: 07.00 London The dollar index remains soft after US CPI came in below estimates and European central banks kept rate forecasts on track. The AUD/USD is higher again, extending the bounce off the 0.7100 level. The EUR/USD and GBP/USD are holding firm after yesterday’s rally, with the latter lagging slightly following Mark Carney’s […]
In line with the broad market consensus, the Bank of England (BoE) decided not to raise its main interest rate and keep it at 0.75%, which was unanimously adopted by the nine-member composition of the British Monetary Policy Council. However, the institution announced an increase in its forecasts for the gross domestic product (GDP), and […]
The Turkish Lira is experiencing dramatic moments recently. In connection with the rise in inflation to almost 18% and uncertainty regarding the future monetary policy of the country, its value against the US dollar has fallen by 40%. As it turns out, the Turks had the opportunity to strengthen their currency and took advantage of […]
Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.2700. Anyway, according to the M15 timeframe, I found that the price rejected from the resistance 2 (1.1694), which is a sign that buying looks very risky at this stage. I also found overbought conditions on the stochastic oscillator, which is […]
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3123. Anyway, according to the M15 time – frame, I found that buyers got exhausted near resistance 2 (1.3137), which is a sign that buying at this stage looks risky. I also found the overbought condition on the stochastic oscillator, which […]
• CHFJPY broke resistance area • Further gains are likely CHFJPY continues to rise after the earlier breakout of resistance area lying at the intersection of the key resistance level 115.00 (which has been reversing the price form August) and the 61.8% Fibonacci correction of the previous impulse wave (C) from February. The breakout of […]
• WTI reversed from resistance area • Further losses are likely WTI recently reversed down sharply from the resistance area located between the key resistance level 71.00 (which has been reversing the price form the middle of July), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous ABC correction (2) from July. […]
The US-Canada trade talks have heated up lately, with a deal by the end of this month looking increasingly more realistic. In such a case, the loonie could surge in relief as the NAFTA risk premium on the currency fades, with broader market risk appetite also receiving a boost. While there may be a few […]
GBPJPY staged a spectacular comeback after falling to its lowest since August 2017 of 139.88 in mid-August. The pair is currently trading more than 600 pips above the aforementioned nadir, having risen to a six-week high of 146.19 earlier on Thursday. The RSI continues heading higher, serving as a testament of the bullish momentum in […]
Trading recommendations: According to the H1 time – frame, I found that price broke the supply trendline in the background and the Ichimoku cloud, which is a sign that buyers are in control. I also found the rising upward trendline and successful rejection of the Tenkan-sen (yellow line), which is another sign of strenght. On […]
