Markets head for five year high Morning Report: 08.30 London • This morning, European stock markets are heading for their highest levels for five years as liquidity fears ease across Asia. The S&P 500 futures are currently just below right levels after a volatile session yesterday. • The Australian dollar is the […]
General overview for 22/01/2014 08:15 CET The yesterday’s labeling has been slightly changed and the top for wave (i) blue has been moved higher to the level of 141.82. The following price action is a corrective cycle wave (ii) blue and still more upward price progression is expected when the correction is finished. The first […]
The dollar was well supported during today’s Asian trading but there was some volatility with respect to yen crosses following the announcement from the Bank of Japan. The Bank of Japan kept its policy unchanged and gave no hints about further loosening, which might have disappointed some market participants who were hoping for promises of […]
EUR/USD: In this market, since the EMA 11 is below the EMA 56 and the price action is showing weakness of the market, it would be likelier for the price to keep on going downwards. The upward swing of the Williams’ % Range testifies to the good chance to go short when the price rallies […]
Now that 2013 is behind us and we’re officially back from the holiday break, it’s time to get all our ducks in a row for 2014. But if there’s anything we can take away from 2013, it’s that preparation is all well and good, until a big old surprise comes out of the blue and […]
European equities march higher Wednesday morning after the IMF’s upgrade of global growth on Tuesday provided comfort to investors. Asian markets were trading mostly lower overnight, after the Bank of Japan lowered Japan’s median economic growth forecast. However, losses were subdued, as the Bank of Japan also pledged to maintain economic stimulus. Emerging market nations […]
European markets have opened higher today, after the International Monetary Fund (IMF) revised higher its 2014 global growth forecast. However, investors are expected to refrain from taking larger bets ahead of earnings updates from several European companies. Closer home, investors await the release of the minutes of the Bank of England’s previous month policy meeting, […]
Those who trade gold caused the precious metal to rise to it highest price in six weeks on Jan. 20, as global market participants became more optimistic about the commodity. Gold futures scheduled for February delivery rose to as much as $1,261.30 per ounce on the Comex division of the New York Mercantile Exchange, according […]
Crude oil trading resulted in the commodity falling in price on Jan. 20, as global market participants responded to data pointing to lackluster economic conditions in China. February U.S. crude futures reached $93.70 per barrel during the day on the New York Mercantile Exchange, according to The Associated Press. In addition, March Brent crude contracts […]
Daily chart After several days of indecision Crude Oil finally was picking up Tuesday with a large candle of decision. Although it was not sufficient to break the top line of its trading range as the 5/8 (green line), however, it shows us that the force is on the side of buyers. Therefore, we can […]
There is no economic data to be released from Euro Zone and the US. That is why we predict this pair today to move with low volatility. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3634. Strong Resistance:1.3626. Original Resistance: 1.3613. Inner Sell Area: 1.3600. Target Inner Area: 1.3568. Inner Buy Area: 1.3536. Original Support: 1.3523. Strong […]
In Asia, Japan will release the Monetary Policy Statement, All Industries Activity m/m, BOJ Press ConferenceВ and the US will not release any economic data. So there is a big probability the USD/JPY will move with low volatility during this day.В TODAY’s TECHNICAL LEVELS:В Resistance. 3 : 104.86. Resistance. 2 : 104.66. Resistance. 1 : […]
Trading recommendations: According to previous events, the price of the GBP/USD pair has still been trapped between 100% of Fibonacci retracement and 61.8% in H1 chart. Long Buying: Buy above 1.6387 with the first target of 1.6466, it might resume to 1.6515. Short Selling: Outlook -1-: Swing trade at 1.6520 in order to sell with […]
The EUR/USD pair for swing trade on January 22, 2014. The last four strong levels: Swing bearish trade = (Sum of Resistances ) / (Total of Resistances) Swing bearish trade = (1.3471 + 1.3585 + 1.3653 + 1.3767) / 4 Swing bearish trade = 1.3619 The market will indicate a bearish opportunity at the level […]
The German economy grew 0.4% in the previous year and is expected to show better performance in the current year of 2014. The euro zone is showing a good sign of recovery led by increase domestic demand. Strong domestic demand plays a vital role in the German recovery. In the year of 2013, GDP stretched […]
Gold rallies on inconsistent economic growth in the US and Festival demand in China. Traders eye at the January 28-29 Fed meeting. On the other hand, Chinese seasonal demand increased, due to the Spring festival that will begin on January 31. In India the wedding season has started, due to which the demand for physical […]
Daily chart: The USDX has made a bearish rebound that could indicate a change in trend, as the USDX could be finding dynamic resistance in the 200 SMA. Now, the USDX is approaching consolidate below the 200 SMA, so it is very likely that the USDX to fall to the support level of 80.62. However, […]
Daily chart: This pair has made a breakout at the level of 1.6447 and is now consolidating above this level with a lower high pattern. It is very likely that this pair rise to the resistance level of 1.6540. However, expect this pair to start making corrective movements for the rest of the week, but […]
Overview: USD/JPY is expected to consolidate after hitting a four-day low of 103.87 Monday. It is supported by the JPY sales on rebounding yen crosses after stronger-than-expected China 4Q GDP data, the demand from Japan importers and ultra-loose Bank of Japan’s monetary policy. But USD/JPY upside is limited by broadly weaker dollar undertone (ICE spot […]
Overview: USD/CHF is expected to consolidate in higher range after hitting a two-month high of 0.9132 Monday.It is undermined by the broadly weaker dollar undertone and franc demand on the rebounding CHF/JPY cross. Daily chart is still positive-biased as MACD and stochastics are bullish, although the latter in overbought zone, five and 15-day moving averages […]
Overview: NZD/USD is expected to trade in higher range. It is supported by the surprise 0.1% quarter rise in New Zealand 4Q CPI (versus the forecast 0.1% fall),the hawkish Reserve Bank of New Zealand’s monetary policy stance and Kiwi demand on soft AUD/NZD cross, rebounding of NZD/JPY cross, and broadly weaker dollar undertone. Daily chart […]
Hello traders! At the time of this writing, I am enjoying the unusually warm temperatures in sunny southern California, 85 degrees to be exact! Tearing myself away from the beach in the middle of the winter to write this newsletter has been difficult, but I will try to make it worthwhile. This week I’d like […]
Dear Valued Partner, The Contest Arena is now live and has been launched with a $20 free promotion and two new weekly flagship events: The Big Free and The Big Small. The Contest Arena is already proving to be very popular amongst traders all over the world and because it’s only available at XM; […]
The pound was the best performing major currency during the European session, despite a disappointing Confederation of British Industry trends / orders survey for January. The survey index came out at -2, whereas economists’ expectations called for a figure of 10. The pound gained 0.22% against the dollar to trade at 1.6474 nearer the 1.65 […]
(click to enlarge) The release of inflation figures for the fourth quarter in New Zealand surprised economists as they were expecting a drop in inflation by 0.1% quarter-on-quarter. Instead, inflation rose by 0.1% and the year-on-year increase came in at 1.6%. Although the rate of annual inflation does not represent a serious issue at this […]
The daily chart showed bearish rejection at the upper limit of the ongoing channel around 1.6590 (on January 2) with a quite strong bearish engulfing candlestick. This was followed by bearish breakdown of the first support trendline located at 1.6490 where a descending high was established last week.Since then, the pair has been consolidating within […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has continued trading upwards, corrective wave ii (coloured blue) ofthe bigger wave (v) (coloured red) has been developing. In the 1-hour chart we can see that the price was pushed towards the 0.8837 level yesterday, this move look corrective and that is why weare going […]
The bulls are pushing towards new price levels (1.1010) that haven’t been reached since September 2009 in reaction to the positive fundamental data from the United States and in Canada. Today,Comments by Fed’s watcher Jon Hilsenrath about the probability to reduce further monetary easing in the next week applied further bullish pressure against other currencies […]
Overview: Since our last analysis, gold has been trading downwards, as we expected, the price tested the level of 1,242.90 on high volume (selling climax) according to M30 timeframe.We can also observe selling climax and testing of our FR 61.8 % at 1,244.00. Since the price has broken the level of 1,254.00, we may expect […]
USD/CAD Elliott WaveВ The USD/CAD pair has reached invalidation level in the early London session, we have slightly adjusted our waveВ count to get new fresh signal for this pair. In the 1-hour chart, we can see that we are looking at the waveВ (b) (coloured red) as already complete cycle at 1.0841 level, now while this […]
