On the weekly chart, the price moved up, almost reached the recession level of 23.6% (yellow dotted line). There is a strong down on the candlestick analysis (three consecutive white candles growing along the body). So there is a strong potential in the downward movement. Trend analysis (Figure 1). Volumes give the probability of top […]
EUR/NZD is set to break higher anytime now. The next impulsive rally should break above the base-channel resistance line, which currently sits near 1.7669 for acceleration towards 1.7820 on the way higher to 1.8369 and above in the longer term. Support remains seen at 1.7538 and 1.7506. Ideally, the later will be able to protect […]
Political risks throw the British pound into the heat, then in the cold. The statement of the chief negotiator from the EU Michel Barnier that Brussels is ready to offer London an unprecedented deal, allowed quotes of the GBP/USD to soar above the psychologically important mark of 1.3. Alas, a few hours later Barnier declared […]
On Monday, US trading platforms are closed (Labor Day is being celebrated in the United States), so the dollar pairs are left to “themselves”, subject to the general mood of the foreign exchange market. Among traders, pessimism prevails again, which pushes the dollar towards growth against a basket of major currencies. Speaking directly about the […]
• GBP/CHF broke support level 1.2560 • Further losses are likely GBP/CHF continues to fall inside the short-term impulse wave 5 – which recently broke through the support level 1.2560 (which stopped the previous sharp impulse wave 3 in August, as can be seen below). The breakout of the support level 1.2560 should accelerate the […]
• Soy reversed up from the support area • Further gains are likely Soy recently reversed up from the support area lying between the key support level 820.00 (which stopped the previous sharp impulse wave C in August, as can be seen below) and the lower daily Bollinger Band. The upward reversal form this support […]
LABOR DAY 2018 saw global gold bullion prices edge back to $1200 per ounce in quiet trade on Monday, down 0.3% for the day, as US markets stayed closed for the end-of-summer holiday. Asian and European equities ticked lower, also in quiet trading, as crude oil rose to 2-month highs and the other precious […]
After political drama kept the Australian dollar under pressure over the past weeks, the currency will now turn its sights back to economic developments, with a policy decision by the RBA and updated GDP figures being on tap this week. Some remarks by RBA chief Philip Lowe will also be closely watched. Downside risks linger […]
EURAUD posted an aggressive bullish rally in the previous couple of weeks after the bounce off the 1.5580 level. However, the pair has been developing within a consolidation area since the end of January. The price trades within the upper boundary of 1.6140 and lower boundary of 1.5270. Moreover, the pair stands above the 20- and 40-simple moving […]
Today, the Australian dollar collapsed to almost two-year lows. The last time the pair tested the 71st figure was in November-December 2016. In general, the AUD/USD pair is in the framework of a pronounced southern trend, which begins in February this year. The monthly timeframe clearly demonstrates a descending movement, starting from the height of […]
This month, the biggest focus among traders will be on the Emerging Markets. In recent weeks, these countries have been on edge. It started in Turkey, which has seen its currency fall by more than 70% against the dollar this year. The debt problem the country was facing was compounded by the sanctions and new […]
Last week, markets around the world rose as confidence among the traders rose after the US deal with Mexico. After it was announced, Canadian negotiators rushed to Washington to seal their own part of the deal. The deadline for this deal was on Friday and the deal failed to happen. It was further complicated by […]
In the first two weeks of August, the EUR/USD pair fell to a monthly low of 1.1310. The pair then recovered and reached a high of 1.1733. Today, the pair started by falling and reached an intraday low of 1.1600. This month, the pair’s main driver will be the decision by the Federal Reserve, which […]
Trade will be the biggest story this week. Last week, the Trump administration signed a trade deal with Mexico. This was a surprise especially coming from Donald Trump, who has said bad things about Mexico. After the deal, the US welcomed Mexico back to the negotiations, which had a Friday deadline. This deadline was not […]
Here are the latest developments in global markets: FOREX: Sterling opened with a gap down on Monday’s Asian session after EU chief Brexit negotiator Michel Barnier said he strictly opposes the UK’s offer on future EU-UK trade relations. Pound/dollar, which has come off from a 1-month high last week, recorded the fifth red month in a row. Today, […]
EUR / USD pair The pair returned to the weekly cloud, into a zone of uncertainty and the main counteraction. Overcoming the resistance in the area of 1.1680 area (daytime Senkou Span B) and 1.1750 (weekly Fibo Kijun) will allow formation of a new upward guidance points. In this case, the closest resistance at 1.1890-1.1930 […]
Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.2876 and reached my first target. According to the Daily time – frame, I found that key support level (kijun-sen + tenkan sen) at the price of 1.2918 got broken, which is sign that sellers are in control. […]
Recently, the EUR/USD pair has been trading sideways at the price of 1.1610. According to the M15 time – frame, I found that price rejected from the today’s pivot level (1.1625), which is a sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of […]
Overview: The USD/CAD pair continues to move downwards from the level of 1.3094. The pair dropped from the level of 1.3094 to the bottom around 1.2893 then set around the spot of 1.3048. Today, the first resistance level is seen at 1.3094 followed by 1.3132, while daily support 1 is seen at 1.2974. According to […]
Overview: Pivot : 1.1612. The EUR/USD pair will continue to rise from the level of 1.1612. The support is found at the level of 1.1612, which represents the 78.6% 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, while […]
Asian markets have been declining for a third consecutive trading session on the fears of the Chinese-U.S. trade tensions escalating. The odds are that Trump will announce the expansion of tariffs for Chinese goods worth from $50 to $200 bln. on this coming Thursday. Already introduced tariffs significantly suppress investors’ sentiment. India’s companies are gaining […]
Gold has found significant support on the 23.6% Fibonacci retracement level of the downleg from 1309 to 1160, around 1195, while it started an upward correction after the rebound on 19-month low of 1160. The technical indicators in the 4-hour chart are holding near its neutral levels. The RSI is moving north below the 50 […]
Here are the latest developments in global markets: FOREX: The dollar was nearly flat against a basket of six major currencies on Monday (-0.03%), after posting considerable gains in the previous session. Meanwhile, the British pound opened with a negative gap following some not-so-encouraging Brexit signals over the weekend from both the EU and the UK. STOCKS: Wall Street […]
EURUSD lost significant momentum over the previous couple of days after the pullback on the 38.2% Fibonacci retracement level of the upleg from 1.0340 to 1.2550, around 1.1710. The world’s most traded currency is hovering near the 40-day simple moving average (SMA), while the technical indicators are still holding in the positive territory. In the short-term the RSI indicator […]
USD/JPY On Friday, the yen was recovering from a significant drop on Thursday, but today in the Asian session it sharply went down on a new round of intrigues between the US and Canada. Apparently, the conclusion of the signing of NAFTA is postponed for a month, and this is only in the best case. […]
Morning Report: 07.00 London The British pound is the main mover following Barnier’s rejection of May’s Chequers plans. This has sparked a near complete reversal of last weeks rally, with the pound gapping lower against all major currencies this morning. The GBP/JPY is the biggest loser, down by 0.51%. Dollar pairs are performing well, with […]
EUR/JPY is approaching its support at 128.56 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 129.81 (50% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 1.7% where a corresponding bounce could occur. EUR/JPY is approaching its support where we […]
AUD/JPY is approaching its support at 79.18 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 80.60 (61.8% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) is approaching its support at 3.7% where a corresponding bounce could occur. AUD/JPY is approaching its support where we […]
When the European market opens, some Economic Data will be released such as Final Manufacturing PMI, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI. The US will not release any Economic Data today, so amid the reports, EUR/USD will move in a low to medium volatility during this […]
In Asia, Japan will release Final Manufacturing PMI, and Capital Spending q/y, but the US will not release any Economic Data today. So there is a probability the USD/JPY pair will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 111.56. Resistance. 2: 111.34. Resistance. 1: 111.12. Support. 1: 110.86. […]
