Focus of the market is on the Trump talks with Xi Jin Ping at the G-20 summit in Japan at the end of a new week. The market expects the US and China to make a deal and this will end the protracted trade war launched by Trump. On the optimism of these expectations, the […]
EUR / USD Friday, June 21, ended with an increase of 80 basis points for the EUR / USD pair. Thus, the markets received confirmation of the construction of the upward trend section, having made a successful attempt to break through the maximum of the expected wave 1. Given this reason, the instrument can continue […]
To open long positions on GBP/USD you need: A weak US dollar renewed the demand for the pound and pulled it to the highs of this month. The goal of the bulls is a major resistance of 1.2762, a breakthrough of which will provide good support to buyers, which will lead to a renewal of […]
To open long positions on EURUSD you need: Traders continue to buy euros in the expectation of lower rates in the US, but they forget that the ECB may resort to such a mechanism in the near future and then everything will go in the opposite direction. Today, the task of euro buyers will be […]
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All eyes this week are on planned meeting between Presidents Trump and Xi at the G20 summit Cautious optimism that progress can be made in stalled trade talks lifts equities on Monday But growing tensions between the US and Iran weigh on sentiment Dollar remains under pressure as markets expect a near-term rate cut by […]
EURUSD ended last week with a breakthrough to the top of an important level of 1.1350 and closed above this point. This is a strong signal for continued growth. Fundamentally, the dollar is falling on the Fed’s promise to lower the rate – if necessary – and on the expectation of progress in US-China trade […]
EURUSD staged a quick recovery last week, with the price crawling above the 200-day simple moving average (SMA) for the first time in more than a year. On Monday, the bullish pattern gained extra credence as the pair extended its positive momentum towards a new three month high of 1.1385. According to the RSI, which maintains a positive slope above […]
Crypto Industry News: A G7 task force is being set up to investigate how central banks can regulate cryptocurrencies, such as Facebook’s Libra. Concerns arose regarding the compliance of cryptocurrencies with anti-money laundering rules, consumer protection principles, and other regulatory issues. The G7 task force will be headed by Benoit Coeure, who sits on the […]
Technical Overview: The GBP/USD pair is testing the key technical resistance zone located between the levels of 1.2746 – 1.2761. The momentum is strong and positive, so the breakout is very possible and the next target is seen at the level of 1.2813. Please notice the market conditions are now overbought, so a local pull-back […]
USD / JPY pair Another yen breakdown in the second half of last week formed a double convergence with the Marlin oscillator on the daily scale chart. The target support of the trend line of the price channel at 107.02 is almost reached on the weekly timeframe. An underwater stone can lurk here as the […]
Technical Overview: The EUR/USD pair has made a new local high above the technical resistance at the level of 1.1347. The move higher was made on strong and positive momentum, so this might be the final breakout from the Ending Diagonal formation seen on the higher timeframe charts. The next target for bulls is seen […]
After testing a low of 135.43 GBP/JPY has been testing short-term important resistance at 136.92 multiple times indicating a weakening decline and possible bottom for wave 2. We have now seen a more substantial break above 136.92 and look for a firm break above 137.18 too. A break above this resistance will be a strong […]
EUR/JPY failed to move below 120.75 and instead broke above minor resistance at 121.97 indicating a low. This means that that the decline from 123.18 most likely was the c-leg of an expanded flat correction as wave ii and wave iii could now be developing. We still need a break above the 123.18 peak to […]
When the European market opens, some economic data such as Belgian NBB Business Climate and German Ifo Business Climate will be published. 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 day.TODAY’S TECHNICAL LEVEL: Breakout BUY Level: 1.1442. Strong Resistance:1.1435. Original […]
Today, Japan and the US will not release any economic data. So, there is a probability that the USD/JPY pair will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance.3:107.93. Resistance. 2:107.72. Resistance. 1:107.51.Support. 1:107.25. Support. 2:107.04.Support. 3:106.83. (Disclaimer)The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Technical Analysis […]
All the action from the floor and look ahead to the European open Related Posts:Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024:… April 16, 2024 Bitcoin is trading around 62,500 and around the key 4/8…Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500… April 16, 2024 We introduce you to the daily updated section of […]
EUR/USD On Friday, the euro strengthened its growth, overcoming not only the high on June 7, but also the Fibonacci level of 76.4% (1.1356), showing the intention to grow to the next Fibonacci level of 61.8% at the price of 1.1445, which almost coincides with the high of March 20. But since we consider the […]
GBP/USD Last Friday, the British pound made its way through the resistance of the embedded line of the price channel of the daily chart and now intends to continue to grow to the MACD line on the daily. The Marlin oscillator on both graphs does not provide reversal signals. On the four-hour chart, the price […]
Last week’s strong momentum made it possible for the pair to reach the monthly control zone of June. This suggests the need to close all short positions. For further work in the direction of strengthening the franc, it will be necessary to form a correctional model, since the pair has gone beyond the weekly average […]
Forecast for June 24: 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. The continuation of the movement to the top is […]
Last week marked a significant turning point for the US dollar. For the first time since Jerome Powell became Chairman of the Federal Reserve, the central bank is thinking about easing. The US dollar was decimated as the market turned to discounting a rate cut in July. The trade weighted Dollar Index dropped to its […]
Last week marked a significant turning point for the US dollar. For the first time since Jerome Powell became Chairman of the Federal Reserve, the central bank is thinking about easing. The US dollar was decimated as the market turned to discounting a rate cut in July. The trade weighted Dollar Index dropped to its […]
Last week marked a significant turning point for the US dollar. For the first time since Jerome Powell became Chairman of the Federal Reserve, the central bank is thinking about easing. The US dollar was decimated as the market turned to discounting a rate cut in July. The trade weighted Dollar Index dropped to its […]
24-hour timeframe All the attention of traders last week was focused on the meetings of the central banks of the EU, the UK and the US. As a result of the disappointing macroeconomic data from the US in the last three weeks, Jerome Powell’s “moderately dovish” rhetoric and the Bank of England’s neutrality, which took […]
24-hour timeframe The third trading week of June ended unequivocally in favor of the euro. By and large, this was the most important week of the month for the euro/dollar pair, since it was the time for speeches by Mario Draghi, Jerome Powell, and the ECB and Federal Reserve meeting. Unfortunately, in June, in the […]
In our last analysis we noted that EURUSD bulls needed to act immediately as price was testing the 61.8% Fibonacci retracement of the rise from 1.1107 to 1.1347. Bulls needed to see price reverse immediately in order to have hopes for more upside. The end of the week found EURUSD at new highs confirming major […]
Median Pitchfork line at $9.856 held successfully, which is sign that BTC found resistance there and I expect potential downside at least to test lower diagonal of Pitchfork channel at $9.530. There is also potential that BTC test support at $9.443. ML – Median Pitchfork line (acting like resistance) Blue rectangle – Support Black lines- […]
Gold did push higher as I expected yesterday. The price tested the level of $1.410. I still expect more upside due to new momentum up on the MACD oscillator and Gold is the extended UP run. Blue rectangle – Important weekly resistance Orange rectangle – Resistance became support Black lines- Upward Pitchfork channel My analysis […]
In 2015, before his term ended, Barrack Obama helped sign the Joint Comprehensive Plan of Action (JCPOA), which is commonly known as the Iran deal. This deal was signed after years of negotiations that involved many stakeholders like China, Russia, and the European Union. The most important parts of the deal was that Iran would […]
