NZD/JPY has been impulsive and non-volatile inside the recent bearish bias which created a double bottom pattern at 72.50 area with a daily close from where the price is expected to climb higher in the coming days. Despite positive economic reports from New Zealand this week, JPY has been quite dominant with the gains. This […]
NZD/USD has been impulsive amid the bearish momentum recently which lead the price to reside at the edge of 0.6550 support area currently. USD has been the dominant currency in the pair while NZD has been struggling in light of the soft economic data earlier, which is expected to change for good in the coming […]
The biggest news this week in the market was the truce between the United Kingdom and Germany. On Wednesday, it was reported that Germany had agreed to remove some of the hard-line positions it had on Brexit. On its part, the UK agreed to accept a narrowed approach that will extend the negotiations until after […]
One of the most important roles of any government is to create jobs for its citizens. It is these jobs that go ahead to fund the government using the taxes. When there are no jobs in a country, the economy cannot grow. This tends to lead to instability. A good example for this is in […]
In June last year, the price of soybeans reached a yearly low of $9 per bushel. It then started moving up and in April this year, the price moved up to $10.76 per bushel. After that, the price of the crop fell sharply to a YTD low of $8.13. It is now trading at $8.36. […]
GBPJPY has been moving in a narrow range with an upper boundary the 144.20 resistance level and lower boundary the 142.60 support level, over the last week. Currently, the price is moving higher with the RSI confirming this movement as it is approaching the bullish area. Furthermore, the %K line of the stochastic oscillator created a bullish […]
Chinese trade figures for August will be made public on Saturday, with the numbers being scrutinized for any negative effects stemming from US tariffs. Meanwhile, the latest developments in the Sino-US trade spat are also putting the release high on investors’ radar. Elsewhere, attention will also turn to the Aussie due to its status as […]
Overview: The EUR/USD pair will continue to rise from the spot of 1.1612. The support is found at the level of 1.1612, which represents the 50% Fibonacci retracement level in the H1 time frame. The price is likely to form a double bottom. Today, the major support is seen at 1.1612, while immediate resistance is […]
Overview: Pivot: 1.3012. The GBP/USD pair bullish trend from the support level of 1.2826 on the one-hour chart. 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 average (100), immediate support […]
Here are the latest developments in global markets: FOREX: The US dollar is marginally lower against a basket of six major currencies on Friday (-0.08%), ahead of the release of the all-important US payrolls report at 1230 GMT, where focus may once again fall primarily on the earnings figures. Safe-haven currencies like the yen and the Swiss franc […]
Gold price tried to make a breakout yesterday above $1,208 but price got rejected and pushed back towards $1,200. Gold price after making a high last week at $1,214 continues to make lower highs defining a clear downward sloping trend line resistance. For $1,220 to be achieved Gold bulls will need to break above this […]
EUR/USD is trading near its weekly highs but below the major resistance at 1.1660-1.1690. Bulls will need to break above this level in order to unlock the powers to the upside and towards 1.19-1.121. Blue line – resistance (neckline) EUR/USD is trading below the Ichimoku cloud. Daily trend is bearish as long as price is […]
On Friday, the 7th of September, the main event is the NFP-Payrolls data release at 12:30 pm GMT and the other data associated with this event: Unemployment Rate, Average Hourly Earnings and Participation Rate. This is not the only important publication, the global investors are also waiting for, among other things, GDP in the Eurozone […]
The weekly number of applications for unemployment benefits in the United States fell to the lowest level in 49 years. It does not mean, however, that there is a boom in the US labor market. Only 203,000 applications for benefits filled the Americans in the last week of August – reported the Department of Labor […]
The Canadian Dollar (CAD) did not find support in yesterday’s statement of the Bank of Canada. In line with expectations, the bank kept the overnight interest rate unchanged at the level of 1.50%, but also refrained from suggesting whether a hike could be expected in October. Some have picked it up as a dovish signal, […]
In the last 24 hours, the entire market has decreased many coins have lost at least 10%, and some twice as much. Even stablecoins did not save themselves from falls. The crypto community is trying to explain this phenomenon. There are several major theories in the community: the first is that the bust has occurred […]
USDCAD has lost its positive momentum over the last couple of days after the bounce on the 1.3230 resistance level. In the short-term, the market could retain its neutral to bearish mode, confirmed by the 20- and 40-simple moving averages which are heading sideways. The RSI indicator is pointing south in the positive territory, while the MACD oscillator […]
Morning Report: 07.00 London The US dollar pairs are mixed after steady gains yesterday against the US dollar. Yesterday’s losses were sparked by Trump targeting Japan as the next trade partner up for re-negotiation. The yen and Swiss franc were the biggest beneficiaries yesterday, with both the USD/CHF and USD/JPY sold off significantly. The USD/CHF […]
AUD/JPY is approaching its support at 79.18 (61.8% Fibonacci extension x2, 61.8% Fibonacci retracement, horizontal overlap support) where the price is expected to bounce up to its resistance at 80.68 (61.8% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) is approaching its support at 3.7% where a corresponding bounce is expected. AUD/JPY is testing […]
EUR/JPY is approaching its support at 127.94 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support) where the price is expected to bounce up to its resistance at 129.69 (61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce is expected. EUR/JPY is testing […]
Record Comex gold correlation to prices… 0.9999 writes Adrian Ash at BullionVault. That’s pretty much the finest purity you can buy in physical gold bullion, with just one part not gold in ten thousand. (Not that you should pay for anything beyond the pure gold weight, whatever the fineness.) Over in […]
• Brent Crude Oil reversed from strong resistance level 79.50 • Further losses are likely Brent Crude Oil recently reversed down sharply from the major, multi-month resistance level 79.50 (which has reversed the price multiple times from the middle of May, as can be seen below) – strengthened by the upper daily Bollinger Band. The […]
• GBPCAD broke through the resistance zone • Further gains are likely GBPCAD recently broke through the resistance zone lying between the resistance level 1.7000, resistance trendline of the daily down channel from June and the 38.2% Fibonacci correction of the downward impulse (C) from June. The breakout of this resistance zone accelerated the active […]
The energy market has been caught between two conflicting narratives in recent weeks, with expectations for diminished supply from Iran supporting oil prices, but worries around global trade and emerging markets (EM) weighing on expectations for demand. Accordingly, crude has moved mostly sideways, albeit in a volatile manner. In the near-term, prices may be most […]
Trading recommendations: According to the H4 time – frame, I found that Bitcoin rejected from the very strong resistance zone in the background at the price of $7.445, which is a big sign of weakness. I also found the fast cross on the Stochastic and MACD oscillator, which is a sign that sellers are agressive. […]
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2982. According to the H4 time – frame, I found that price rejected from the Fibonacci retracement 61.8% (1.2810) in the background, which is a sign of further strength. I also found that MACD and Stochastic oscillator showing the bullish trend […]
Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,206.20. According to the H1 time – frame, I found that price rejected from the strong support Fibonacci confluence level at $1,194.50, which is a sign of further strength. I also found a broken downward channel in the background, which […]
The sterling jumped sharply yesterday after progress appeared to be made between the UK and the EU countries. Yesterday, Germany and the UK abandoned key demands, which increased the chances of a deal. Germany said that it was ready to accept a less detailed agreement on UK’s future with the EU. The UK on its […]
Goldman Sachs is the most powerful investment bank in the world. It has total assets of more than $ 1 trillion and its senior managers have played an important role in both Republican and Democrat administrations. For example, its former CEO Hank Paulson served as Obama’s Treasury Secretary while its former president, Gary Cohn, served […]
Employment data out of Canada will be made public on Friday at 1230 GMT, with forecasts pointing to a cooling in the labor market during August. If so, that could cast further doubts on expectations for a BoC rate increase at the October gathering and thereby, bring the loonie under renewed selling interest. Beyond Friday’s […]
