Morning Report: 07.00 London This morning, the US dollar remains off the pace after PPI came in well below estimates yesterday. Dollar pairs are generally enjoying strong gains, especially the AUD/USD which is making further gains after yesterday’s impressive rally. Australian employment change came in above estimates. The AUD/JPY is also performing well. Meanwhile, the […]
AUDJPY is rising for the fourth straight day, further distancing itself from last week’s near two-year nadir of 78.67. Earlier on Thursday, it hit a one-week high of 80.20. The RSI has turned higher after coming close to oversold levels, signaling a shift in momentum to the upside. The stochastics are also projecting a bullish […]
As China awaits President Trump’s next move in the ongoing trade war, economic indicators due on Friday at 02:00 GMT will provide the latest look at the strength of industrial output, retail sales and fixed-asset investment in the world’s second largest economy. While export growth has so far remained resilient in the face of higher […]
NZDUSD has finally reversed slightly to the upside in the short term following the rebound on the more than two-and-a-half-year low of 0.6500 on Monday. Momentum indicators in the 4-hour chart though are currently supporting that positive momentum is likely to strengthen. Specifically, the MACD is picking up speed near zero line and the RSI continues to hold above […]
To open long positions for EUR / USD pair, you need: In the first half of the day on Wednesday, buyers did not have enough strength to get above the resistance of 1.1605, which I paid attention to in my morning review. A breakthrough of level 1.1605 is necessary to maintain the upward trend, which […]
Overview: The market is still trading above the pivot point (0.9689). It continued to move downwards from the level of 0.9689 to the bottom around 0.9651. Today, the first resistance level is seen at 0.9728 followed by 0.9776, while daily support 1 is seen at 0.9651. The USD/CHF pair broke support which turned to strong […]
Wave picture of the H4 chart: The bearish wave of April 17 sets the main trend direction of the small scale chart of the pair. The price has reached the upper limit of the large support zone. The wave pattern of the H1 graph: Since August 15, a zigzag wave is forming upward. In the […]
Overview: As expected, the USD/CAD pair continues to move downwards from the areas of 1.2982 and 1.3088. Yesterday, the pair dropped from the level of 1.3088 to 1.2982. The level of 1.3088 coincides with a ratio of 50% Fibonacci on the H4 chart. Today, resistance is seen at the levels of 1.3041 and 1.3088. So, […]
Here are the latest developments in global markets: FOREX: The US dollar index is slightly higher on Thursday (+0.08%), recouping some of the losses it posted in the previous session as safe-haven bets on the currency were scaled back, following news the US and China are set to hold new trade talks. The risk-sensitive aussie surged, while the […]
Bitcoin is still quite indecisive and volatile while residing inside the range between $6,000 to $6,500 area with a daily close. Though the fundamentals are quite positive, they have failed to impact the current market price. The price has been pushing higher with certain correction leading to steady higher lows in the process. If the […]
NZD/USD has managed to push higher, having bounced off the 0.6500 support area with a daily close. So the pair is going to trade higher in the coming days. Despite soft economic reports from new Zealand this week, yesterday NZD managed to counter the preceding bearish trend in the pair. Today New Zealand FPI report […]
Finally, an interesting European session is ahead of traders. Important macroeconomic publications from the Eurozone will appear in the morning, emphasis will be placed on inflation data. However, they should not move the market much, because the decisions of central banks will be much more important: first at 01:00 PM Bank of England, and shortly […]
AUD/JPY has been quite impulsive with the recent bullish momentum after a bounce off the 76.60 support area which lead the price towards the dynamic level and 80.00 area. AUD has been positive with high impact economic reports today but could not dominate JPY as expected. Today Australia’s MI Inflation Expectation was published unchanged at […]
The Bank of Russia successfully conducted an experiment on issuing tokens, said the bank’s officials during the Eastern Economic Forum in Vladivostok. Ivan Semagin, deputy director of the bank’s financial development department, told forum participants that the regulatory body had tested the “experimental ICO based on existing infrastructure” in the regulatory sandbox of the Bank […]
Asian markets are adding after reaching 14-month lows the day before. Positive markets are supported by the reports about China’s invitation to trade negotiations. Previous negotiations did not bring any results and led to a tightening of the rhetoric and tariff expansion. However, the positive markets are fuelled by the sentiment that President Trump’s administration […]
USDJPY has been developing around the 23.6% Fibonacci retracement level of the upleg from 104.60 to 113.16, around the 111.13 barrier over the last three weeks. Moreover, the price holds above the 20- and 40-simple moving averages (SMAs) in the daily timeframe, as well as the technical indicators stand near their neutral levels. The RSI […]
The break below minor support at 1.7716 indicates that red wave iii completed at 1.7825 and red wave iv towards 1.7605 is developing. Once this correction is complete, renewed upside pressure towards 1.8030 and possibly even closer to 1.8369 is expected. Short-term, we expect minor resistance at 1.7791 will cap the upside for the decline […]
We still would prefer a second corrective dip closer to 128.57 before the next impulsive rally through short-term important resistance at 129.98 that will confirm red wave (3) being well underway towards 136.50 and higher. It’s possible that EUR/JPY breaks directly above resistance at 129.98 and skips the second dip. We think it comes down […]
When the European market opens, some Economic Data will be released such as Main Refinancing Rate, French Final CPI m/m, and German Final CPI m/m. The US will release the Economic Data too, such as Federal budget balance, 30-y Bond Auction, Natural Gas Storage, Unemployment Claims, Core CPI m/m, and CPI m/m, so, amid the […]
To open long positions for GBP/USD, it is required: Buyers of the pound failed to gain a foothold above the morning resistance of 1.3020, which led to the formation of a new market level of 1.3031, on which a further upward trend depends. Only after consolidating above this range will it be possible to expect […]
On Thursday the European Central Bank (ECB) is expected to have another non-event policy meeting at 1145 GMT as policymakers have already laid down the path of monetary policy for the next year. The meeting, however, could bring a wave of volatility to the euro if the ECB elevates worries about the US trade strategy and […]
Turkey’s central bank is widely expected to raise interest rates on Thursday, with a decision due at 11:00 GMT. The Turkish lira has advanced to two-week highs versus the US dollar in anticipation of much needed action by the Central Bank of the Republic of Turkey (CBRT), which has come under attack by investors for […]
Apple’s stock is trading 2.5% lower from a record high of $229.67 touched on September 5. The major catalyst behind the recent fall are growing concerns the company will take a hit on the back of rising prospects for a full-blown trade war between the US and China, given that a considerable part of the […]
GOLD PRICES held tight below last week’s finish in London trade Wednesday, moving around $1195 per ounce as Asian stock markets fell again but European shares gained ahead of tomorrow’s policy decisions from the Eurozone and UK central banks – both expected to deliver “no change”. Global oil prices rose, with energy traders pointing […]
Trading recommendations: According to the H1 time – frame, I found that price broke the support trendline in the background, which is a sign that buying looks risky. I also found a potential end of the upward correction (abc running flat) in the background, which is another sign of weakness. Watch for selling opportunities. The […]
The recent bearish movement of GBP/USD has shown signs of weakness since September 5 when an ascending bottom was established around 1.2800 The GBP/USD pair is currently testing the depicted downtrend line which comes to meet the pair around 1.3025-1.3090. This price zone (1.3025-1.3090) corresponds to 50% and 61.8% Fibonacci levels where evident bearish rejection […]
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 August 9, bearish breakout below the depicted consolidation range (0.6840-0.6700) was executed. This allowed the recent bearish decline to occur towards 0.6600-0.6570. The NZD/USD pair outlook turned to be […]
On the other hand, the price zone of 1.1520-1.1420 stands as a prominent demand zone to be watched for bullish rejection and possible bullish pullbacks. Bearish breakdown of 1.1520 is needed allow a further decline towards 1.1420. The next bearish target would be located around 1.1275. For the major reversal pattern to be confirmed, a […]
Apple stock advanced considerably on Tuesday after six consecutive bearish days, maintaining its positive outlook. In the short-term, the price has been developing within an upward pattern since April 27 with the technical indicators confirming the recent bullish structure. The RSI has turned positive after the drop below the overbought zone but remains in the positive zone, while […]
AUD / USD pair The Australian dollar is the only currency in Forex, which systematically moves according to clear rules of technical analysis from the end of August. After the price has gone under the balance line and the MACD line on the N4 chart, the decline continues without violating these lines. The immediate goal […]
