• CAD/CHF broke key support level 0.7400 • Further losses are likely CAD/CHF previously broke through the key support level 0.7400 (which stopped the A-wave of the active ABC correction (2) from the start of May, as can be seen below). The breakout of the support level 0.7400 accelerated the active impulse wave C of […]
• Sugar rising inisde correction 4 • Further gains are likely Sugar continues to rise inside the short-term correction 4, which started previously from the long-term support level 10.00 (which also stopped the sharp downtrend in the August of 2015). The price today broke the resistance level 10.80 and the daily down channel from May […]
The Swedish krona is the worst performing currency among advanced economies this year and is possibly headed for further losses with two major risk events on the horizon in the next few days. The Riksbank (Sweden’s central bank) will announce its latest policy decision on Thursday at 07:30 GMT and could signal a delay to […]
The US 500 index has declined after touching an all-time high of 2,916.50 on August 29. Still, the benchmark continues to trade relatively close to its record peak. The RSI has reversed lower after entering overbought territory last week and continues to head down, supporting the view that near-term momentum has turned negative. The stochastics […]
PRICES to buy gold stabilized in London on Wednesday morning, trading $2 higher to $1194 per ounce even as the US Dollar pushed other currencies lower once more and global stock markets extended yesterday’s drop on Wall Street. Commodity prices also retreated and the Chinese Yuan fell again versus the Dollar after China’s weak […]
The USD/CAD pair established a strong double top position at 1.3760 in 2016. After that, the pair dropped as the loonie strengthened against the dollar. It then established a strong double bottom position of 1.2070 in October last year. Since then, the pair has moved up and has reached 1.3190. This has happened as the […]
In January 2016, the price of copper reached a multi-year low of $1.935. It then started a major rally that saw it reach a high of $3.32 in December last year. Since then, attempts to continue the upward movement failed and this year, the metal has fallen to a low of $2.561. This is the […]
Japan 225 index has recorded a stunning downward rally following the touch on the 23116 resistance level in the prior week and is moving towards the moving averages in the daily chart. The technical indicators, continue to send bearish signals, suggesting that the softness in the market is not over yet. The RSI indicator is in progress […]
Trading recommendations: According to the H4 time – frame, I found that strong supply entered the market and that most recent upward diagonal got broken, which is a sign that sellers are in control. The price is near the key support trendline ($6.800) and my advice is to watch for potential breakout to confirm further […]
Here are the latest developments in global markets: FOREX: The US dollar was moving sideways versus a basket of six major currencies on Wednesday as worries remain that the US President Donald Trump may soon restart a trade war with Beijing by imposing tariffs on more Chinese imports as early as tomorrow. Dollar/yen edged up by 0.12% but remained below […]
Recently, the USD/JPY pair has been trading upwards. The price tested my key resistance sell zone at 111.70 (Fibonacci retracement 88.6%). I found completed a bearish bat pattern, which is a legit bearish opportunity. I also found a hidden bearish divergence on the RSI (14) oscillator, which is another sign of weakness. Watch for selling […]
The NZD/USD pair has been down-trending for the past few days. This bearish movement has been demonstrated within the depicted linear regression channels. During Today’s consolidations, lack of enough bearish momentum was demonstrated on the chart. The NZD/USD demonstrated a false bearish breakout below the midline of the depicted movement channels. Evident bullish recovery was […]
EURJPY is approaching its resistance at 129.67 (61.8% & 100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 129.04 (50% Fibonacci retracement). Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected. EUR/JPY is approaching its resistance where […]
CAD/CHF is approaching its support at 0.7394 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where price is expected to bounce up to its resistance at 0.7484 (38.2% Fibonacci retracement, horizontal pullback resistance). Stochastic (89, 5, 3) is testing its support at 2.6% where a corresponding bounce is expected. CAD/CHF is testing its […]
Gold gained some ground on Wednesday after touching a near two-week low of 1,189.50 the previous day. The RSI is largely moving sideways in support of a neutral picture in the short-term. Given a move above the middle Bollinger line – a 20-day moving average line – at 1,195.91, additional resistance to advances may come […]
EURJPY has been moving sideways since the soft rebound on the 128.50 support level in the previous couple of days. Currently, the price is moving sharply lower, below 129.00, and is standing below the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, while the technical indicators are signaling further losses. The RSI indicator slipped below […]
Minuette (h1) Euro vs US Dollar Previous review of August 29, 2018 10:29 UTC + 3. ____________________ The further movement of the single European currency EUR / USD in the period of September 4-11, 2018 will depend on the direction of the breakdown of the range: -> resistance level 1.1600 (control line LTL forks operating […]
Overview: The USD/CAD pair set above strong support at the level of 1.3135, which coincides with the 61.8% Fibonacci retracement level. This support has been rejected for four times confirming uptrend veracity. Hence, major support is seen at the level of 1.3135 because the trend is still showing strength above it. Accordingly, the pair is […]
In April, bearish breakdown of 0.7220-0.7170 (lower limit of the consolidation range) allowed a quick decline towards 0.6700-0.6800 where 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 fail to maintain enough bullish momentum above 0.6700. On […]
The price zone of 1.1520-1.1420 stands as a prominent demand zone to be watched for bullish rejection and possible bullish pullbacks.The EUR/USD pair is currently trapped between the depicted technical levels (1.1750 – 1.1500). Breakout movement should be anticipated.Bearish breakdown of 1.1520 will probably allow further bearish decline towards 1.1420. Next bearish target would be […]
Morning Report: 07.00 London The US dollar index remains dominant this morning, as emerging market stress continues to generate Greenback interest. The dollar pairs are mixed this morning, with the USD/CAD of particular interest as the Canadian dollar continues to suffer as trade negotiations drag on. The USD/CAD has now risen for five straight days. […]
Here are the latest developments in global markets: FOREX: The US dollar is little changed against a basket of six major currencies on Wednesday, holding onto the gains it recorded in the previous session. Staying in North America, the Canadian dollar was a major underperformer yesterday, touching a one-and-a-half-month low against the greenback ahead of the Bank […]
Overview: The EUR/USD pair will continue to rise from the spot of 1.1612/1.1546. The support is found at the levels of 1.1612 and 1.1546, which represents the 50% and 23.6%Fibonacci retracement level in the H1 time frame. The price is likely to form a double bottom. Today, the major support is seen at 1.1612/1.1546, while […]
The market sentiment is not doing well, and weaker data from China and fears of trade wars only intensify pessimism. Solid GDP from Australia only served as an opportunity to sell AUD at a better price: AUD jumped after a solid GDP reading from Australia. In the second quarter, the increase was 3.4% (vs. 2.9 […]
During his yesterday’s speech, Mark Carney signaled that he was ready to extend his term of office as the Governor of the Bank of England to guarantee a peaceful Brexit. He announced that he and the chancellor had discussed the issue and that the final decision would be made in due time. He assured, however, […]
The Australian Reserve Bank (RBA), in line with expectations, maintained the cash rate at 1.50%, but this did not hinder the positive reaction of AUD. The most important element of the meeting was the message, where there were few changes compared to the previous month. If they have already taken place, they were positive with […]
Colombia is going to become another country that, like Malta, is a strong leader in Blockchain and virtual currencies. With the development of the cryptocurrency and Blockchain industry, an increasing number of nations began to put emphasis on both sectors. The most important of these is the small island state, Malta, which quickly emerged in […]
The crises process is intensifying in emerging economies, which also affects their markets and supports the demand for the dollar. S&P 500 lost 0.2% on Tuesday and returned under 2900 level, despite the Amazon’s growth of capitalization over $1 trillion. Asian markets are declining after the data on business slowdown in China. The published Services […]
AUDUSD is losing its positive momentum that started the day, while it posted a fresh 25-month low of 0.7156 on Tuesday. The bearish trend could stay in place given that prices continue to fluctuate below the 20- and 40-simple moving averages (SMAs) in the daily timeframe. However, some of the technical indicators are indicating that the pair is […]
It is our pleasure to invite our clients to attend the upcoming forex trading seminar of XM in Thailand, due to be held in three different locations between 6th October and 3rd November 2018. The seminar titled Harnessing Volatility – Bollinger Bands, presented by acclaimed professional instructor Sompop Jittrakul, will reach Chiang Mai on 6th […]
