EURJPY has stabilized somewhat since early June, trading within a narrow range with an upper bound of 123.20 and a lower bound of 120.80, which keeps the near-term bias neutral for now. A break on either side is needed to determine the short-term direction. In the bigger picture however, the pair is still in a […]
Fed Chairman Jerome Powell pushes back on aggressive rate cut bets But dollar rebounds only modestly as markets still see a 25-bps cut in July G20 summit remains the week’s focal point but hopes of a major breakthrough are low RBNZ hints at more easing, but kiwi rallies Powell says Fed is “grappling” whether to […]
EURGBP found some footing around the 20-day simple moving average (SMA) last week and returned to a bullish trend thereafter. The price is currently testing the recent five-month peak of 0.8973 and a former restrictive area, where any decisive close higher may prove valuable to the market. The red Tenkan-sen however remains flat above the blue Kijun-sen […]
Fed Chairman J. Powell and St. Louis Federal Reserve Bank Head J. Bullard synchronously lowered the estimate of the likelihood of a rate cut at the July meeting by 50 pts at once, which allowed the dollar to stop falling and go into the side range. Bullard said the 0.5% rate cut was unreasonable, and […]
The growth trend of the euro remains in force. The reason is the expectation of a reduction in the rate of the Fed – and the expectation of a settlement of the Trump-China trade war at the G-20 summit later this week. Technical analysis allows purchases from 1.1350 and below up to 1.1250 In the […]
EUR / USD Tuesday, June 25, ended for the pair of EUR / USD with a decline of 30 basis points. Thus, a correctional descending wave consisting of 3 upward trend segments of the trend has presumably begun its construction. If this is true, then the increase in instrument quotes will resume the other day […]
Extremely weak macroeconomic reports from the United States did not prevent the US currency from adjusting for the entire market. The dollar index moved away from local minima, reflecting the increased interest of dollar traders. The immediate reason for the growth of the dollar was the comments of the Fed representatives, who leveled investors’ concerns […]
Technical Overview: The GBP/USD pair has made a minimal breakout above the resistance zone, but the price quickly reversed and made a Bearish Engulfing candlestick pattern. The pair moved lower to test the support at the level of 1.2668 as the market conditions are now overbought. Any violation of this level will lead to an […]
This week, the biggest focus among market participants is the meeting between Donald Trump and Xi Jinping of China. The meeting will take place at Osaka, Japan at the sidelines of the annual G20 meeting. Investors hope that the meeting of the presidents of the two most powerful countries in the world will help reduce […]
The New Zealand dollar rose today after the country’s central bank released its interest rates decision. As expected, the bank left interest rates unchanged at 1.50% and said that the low interest rates were necessary to caution the caution the country from the adverse impacts of the ongoing trade tensions. In the statement, the officials […]
US stocks declined yesterday after the Fed chair warned about the health of the US economy, The chair said that the ongoing trade war had put the economy at a precarious situation, which will lead to lower interest rates. Traders are now pricing in a 25 basis rate cut in the July meeting. In a […]
Risk Warning: 71.61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]
Technical Overview: The EUR/USD pair has reversed after hitting the level of 1.1405 as the Bearish Engulfing candlestick pattern was made. The price moved down to test the technical support located at the level of 1.1347 due to the overbought market conditions and weaker than before momentum oscillator. There is still a chance for a […]
JPY is holding the upper hand over GBP since the price rejected off the 148.00-150.00 area with a daily close. The bearish trend remained non-volatile and carried by the dynamic level as confluence along the way. Ahead of UK Inflation Hearing report today, GBP is going through corrections against JPY trying to regain momentum at […]
Crypto Industry News: The largest bank in the United States, JPMorgan Chase (JPM), expects to release its own JPM Coin cryptocurrency by the end of 2019. Umar Farooq, Head of Digital Treasury Services and Blockchain Technology at JPMorgan, revealed the company’s intention to launch JPM Coin pilot tests with selected clients at the end of […]
Crypto Industry News: The total number of Bitcoin ATMs (BTMs) around the world reached the threshold of 5,000 for the first time, as confirmed by CoinATMRadar. According to the latest statistics, there are currently 5,006 standalone BTM in around 90 countries, where cryptocurrency users can buy or sell Bitcoins. Some machines offer both services at […]
To open long positions on GBP/USD you need: Pound buyers need to keep the level of 1.2674, and the formation of a false breakdown, after updating the yesterday’s low, will be the first signal to open long positions in the pound. However, the main movement will depend on the speech of the Bank of England […]
Risk Warning: 71.61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]
In the past few weeks, XM continued its forex trading seminar road tour across Thailand, reaching two further event locations: Phitsanulok on 8th and Udon Thani on 22nd June. Well-known forex instructor Sompop Jittrakul, who was the keynote speaker of the seminar in each city, delivered his presentation to seminar attendees on the topic titled […]
AUDUSD has been extending its gains since the previous week following the strong support on the five-month low near 0.6830. The pair surpassed above the 20- and 40-day simple moving averages (SMAs) which are ready to post a bullish crossover, signaling further upside momentum. However, the stochastic oscillator seems to be losing momentum in the overbought territory, […]
The USD/CAD pair managed to sustain bearish momentum. The pair moved below 1.3200 area. Though the price was volatile, the preceding bearish trend was quite dominant. The pair was expected to drop but certain retrace or pullback may occur. Market participants are focused on the Fed’s decision on the key rate cut. This uncertainty puts […]
Technical outlook: The EURUSD pair might have formed an intermediary top at 1.1412 levels, the interday high for June 25, 2019. The single currency pair might be ready for a deeper correction towards 1.1270/90 levels in the coming trading sessions before it could resume its uptrend further. It is expected to counter-trend rally in the […]
USD / JPY pair On Tuesday, the USD/JPY pair had an upward reversal from the price channel line with the support of double convergence on the daily chart and the convergence forming on the four-hour chart. On H4, the Marlin oscillator signal line is already in the growth zone. In order to confirm the price […]
With the break back below important short-term support at 135.91 GBP/JPY can go both ways. The downside is vulnerable again and a final dip closer to 134.50 cannot be ruled out to complete wave 2. Only a direct break back above minor resistance at 137.13 will confirm that wave 2 already has completed and wave […]
GBP/USD On Tuesday, the pound sterling met a strong resistance level of February this year – with a mid-month reversal zone, where it was also hampered by the daily balance line. The pound fell to close below the MACD line on the four-hour chart. The consolidation of the Marlin oscillator signal line on H4 was […]
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Forecast for June 26: Analytical review of H1-scale currency pairs: For the euro / dollar pair, the key levels on the H1 scale are: 1.1452, 1.1428, 1.1404, 1.1388, 1.1353, 1.1334 and 1.1305. Here, we continue to follow the development of the ascending structure of June 18. At the moment, the price is in the correction. […]
The euro quite quickly overcame the highs one after another when paired with the dollar. The “news” so hastily climbed up that they did not pay attention to the deterioration of the German business climate and did not take into account the fact that the German economy is in a depressed state. On Tuesday, market […]
4-hour timeframe The amplitude of the last 5 days (high-low): 59p – 131p – 96p – 104p – 59p. Average amplitude for the last 5 days: 90p (93p). On Tuesday, June 25, the British pound sterling also started to adjust, and the pound/dollar pair worked off the Kijun-sen critical line. Meanwhile, the main candidate for […]
4-hour timeframe The amplitude of the last 5 days (high-low): 62p – 67p – 92p – 95p – 37p. Average amplitude for the last 5 days: 71p (72p). The presidency of Donald Trump began with the fact that he regularly declared the “high cost” of the national currency, that is, the dollar. During the first […]
