The Bank of Japan (BoJ) will announce its policy decision during the Asian morning on Tuesday. No change in policy is expected and as such, focus will probably turn to Governor Kuroda’s press conference for any signals on whether the Bank is considering to alter its ultra-loose framework, as has been speculated recently. With inflation […]
The GBPJPY currency pair has been gaining ground steadily since its low in autumn 2016. It has now reached a resistance level from late February of that year when a selloff in the market paused and a steep downtrend put in a minor low at 154.700. On the current Daily chart, this level corresponds with […]
Here are the latest developments in global markets: FOREX: The dollar remained under pressure against its major counterparts during the European afternoon as the government shutdown on Friday limited any buying interest for the currency, driving the dollar index down to 90.43 (-0.13%). Dollar/yen edged down to 110.68 after attempting to break above the 111 key-level, with the focus being on the […]
Monday, there aren’t any tier 1 economic data releases scheduled. The main point of interest could be the Eurogroup meeting (the informal name of a meeting of Eurozone finance ministers, EU Commissioner and ECB president). This meeting is scheduled for 10.00am GMT and normally happens before a broader meeting of ECOFIN (ministers of finance of […]
Entertainment company Netflix will be reporting its Q4 2017 results after Monday’s closing bell on Wall Street. The consensus recommendation for the company is a “buy”, the same as the average consensus recommendation for the Online Services peer group. The California-based company is expected to have made $0.41 in earnings per share during the […]
Gold moved lower over the previous week following the pullback from the 4-month high of 1344. The price snapped the five weekly winning sessions and posted a negative week as it lost momentum. The short-term technical indicators seem to be turning negative and point to more weakness in the market. In the 4-hour chart, the RSI indicator is pointing […]
This week, the focus of investors will be turned to Washington. On Friday, republicans and democrats failed to reach a consensus on funding the government leading to a shutdown. The rifts between the two parties are growing as both sides take hardline positions. On Sunday, Trump suggested that republicans should use the nuclear option for […]
On Friday, Energy Information Administration (EIA) released an interesting statement. In their estimation, the United States will pass Saudi Arabia and Russia to become the leading exporter of crude oil in the next twelve months. The country will be producing more than 10 million barrels of crude oil every day. This is an important development. […]
On Friday, the U.S stock market ended in the positive area despite the fears of a government shutdown. The Dow, S&P, and NASDAQ were up 53, 12, and 40 points. The upward movement showed two things. First, it showed the complacency among investors and second, it showed the forward-looking nature of investors. Most believe that […]
Here are the latest developments in global markets: FOREX: The US dollar index opened with a small negative gap on Monday after news that the US government shut down on Friday, but managed to recover its losses to trade marginally higher in the following hours. STOCKS: Japanese markets were in the green today, albeit not by much. The […]
EURUSD challenged a fresh 3-year high above the 1.2300 price level during the previous week but currently, the price is holding below the aforementioned level. The price jumped to 1.2320 for the first time since December 2014, after extending a strong rally that started from the low of the 1.1900 handle. Looking at the daily timeframe, it […]
The U.S. government shutdown over the weekend as the Senate failed to pass a bill to keep the funds flowing late on Friday. The Democrats are making an issue of protections for young undocumented immigrants. President Trump has responded saying he will not negotiate on the issue until democrats vote to end the shutdown and […]
The Bank of Japan and the European Central Bank will follow in the footsteps of the Bank of Canada to hold their first policy of 2018 in the next seven days. With speculative trade on the timing of the eventual stimulus withdrawal by both central banks driving the euro and the yen higher over the […]
The euro started the year with a bang, buoyed by expectations that the European Central Bank (ECB) is likely to begin scaling back its massive stimulus program later this year. Can the single currency continue to gain, or have markets discounted too much too early, setting the stage for a near-term correction? While the financial […]
GBPAUD remains under pressure and risk is still to the downside as prices continue to trade below the 1.7430 resistance level. The price had a strong sell-off following the rebound near the 1.8000 strong psychological level. The short-term technical indicators are holding near their neutral levels. The RSI indicator is flattening near its 50 level, […]
Join easyMarkets’ Senior Global Strategist James Trescothick in his interactive webinar, where he will cover the basics of Technical Analysis in today’s fast moving markets how to use channels to spot potential opportunities. REGISTER NOW The post Trading the forex market using channels appeared first on Forex.Info. Related Posts:Market Comment – Geopolitics and Fedspeak […]
The GBPNZD pair has formed a rising channel in the 1-Hour timeframe, the bottom of which is supported by the chart’s 3 main moving averages, the 50, 100 and 200-Hour MAs. The area is centred just below the 1.90000 support level and round number, with a weak two-touch trend line close by. The next level […]
Here are the latest developments in global markets: FOREX: The dollar index remained pressured near three-year lows, at 90.34 (-0.16%), as investors were waiting for US Senators to prevent a potential government shutdown today. Traders were also pricing that the dollar might lose steam versus its peers if other central banks follow the Fed by tightening monetary […]
Our last report on the Crypto selloff was two days ago but two days is a long time in the Crypto market. Following the hefty sell-off that lasted for two days, despite negative news flow, cryptocurrencies made a sharp recovery on Thursday. News headlines from South Korea have continued, ranging from insider-trading accusations to admissions […]
EURGBP appears poised for further losses and slipped beneath the 0.8850 barrier in the prior couple of days. Currently, in the short-term timeframe, the pair is developing between the 38.2% and the 50.0% Fibonacci retracement levels of the last significant upward movement with the low at 0.8690 and the high at 0.8923. The aforementioned levels […]
WTI crude oil futures have traded lower in the prior three days following the pullback on the fresh three-year high of 64.80. When looking at the bigger picture the price is endorsing the scenario for further gains, however, in the short-term timeframe a bearish correction is possible. The price slipped below the 161.8% Fibonacci retracement […]
The S&P 500 is the world’s largest index with a total market capitalization of more than $25 trillion. The index is made up of 500 of the largest companies in the United States. As a result of its composition, traders, investors, and policy makers tend to use it as a measure of the health of […]
Here are the latest developments in global markets: FOREX: The US dollar index was marginally lower on Friday, after also trading lower yesterday, even though yields on longer-term US Treasuries were on the rise. STOCKS: Asian markets were in a sea of green today. Japan’s Nikkei 225 and Topix indices were up by 0.2% and 0.7% […]
The Economic calendar for today is very light, with main events in focus for the European trading session concentrating around German PPI and UK Retail Sales data. Asian equity markets were positive, pointing to a sixth week of gains. The U.S. Dollar Index declined overnight, trading very close to the psychologically important 90.00 level, which […]
GBPJPY remains in a bullish phase but has stalled its recent rally after reaching its highest level since mid-June 2016. On the 4-hour chart, the market became overbought and subsequently made a corrective move lower. This is indicated by the RSI reaching above 70 after GBPJPY surpassed the prior high of June 8 (153.70) and moved higher. […]
USDCAD remains neutral on the daily chart, pivoting around the key 1.2500 level since the start of January. The pair has been unable to sustain gains after a break of this level last week and consequently, the market has been stuck in a multi-week range roughly between 1.2350 and 1.2600. Technical indicators that were strongly […]
Wheat futures for March delivery bounced higher after posting the biggest daily fall since August on January 12 and eventually reaching a one-month low of 4.1215 on January 16. Technical indicators send bearish signals for the market. The RSI is a breath below 50 and is pointing to the downside, while the bearish cross between the 50-period simple moving average and the […]
The Japanese currency posted gains versus the US dollar, reaching four-month highs – equivalently the dollar/yen pair fell to four-month lows – with the yen appreciating on the back of what market participants interpreted as a form of tapering by the Bank of Japan. Such an evaluation though may not be justified, with the market […]
If you’ve been following the entire cryptocurrency saga – you might have noticed that the rock-star of cryptocurrencies experienced a significant drop. We saw bitcoin floundering around the $10,000 mark yesterday and slightly recovering today to $11,273.65 (indicative price at the time of writing), due to fears of a chain-reaction initiated by South Korean regulation […]
AUDJPY is edging higher and is trying to retest the more than two-month high slightly above the 89.00 strong psychological level. The price was supported by the 20-day simple moving average several times during the previous sessions, failing to drop below it. Momentum indicators are moving in the positive areas in the short-term with the RSI just below the 70 level, heading to […]
