After the publication of extremely weak data on the number of new jobs in the United States on Friday, expectations of a possible reduction in the interest rates of the Fed has increased markedly in the markets. According to the data provided by the Ministry of Labor in May, the US economy received 75,000 new […]
The Fed’s statements about a possible rate cut gave impetus to the movement against the dollar – gold succeeded most of all in this, but the euro also showed growth. Thus, there is a signal for an upward trend in the euro. We are seeing a decline during Monday morning, but for now this is […]
To open long positions on EURUSD you need: Against the background of the euro’s strong growth and speculative purchases on Friday afternoon, major players have recorded a profit. Continuing the further trend without a good downward correction will be extremely difficult. It is best to open long positions on a rebound after updating the low […]
By the end of the last trading week, the currency pair pound / dollar showed, we can already say, stable volatility in the amount of 73 points, as a result of pulling into a closely located level. From the point of view of technical analysis, we saw that the quotes reluctantly continued the upward movement, […]
The US dollar opened the trading week with a small, but ubiquitous growth, despite the failed Nonfarms report, which was published on Friday. The meeting of the US finance minister with the chairman of the People’s Bank of China gave hope to traders that talks between Beijing and Washington would resume. At the very least, […]
EURUSD reached a two-and-a-half-month high of 1.1347 on Friday as the pair exited from the medium-term descending channel in the preceding days, signaling furhter upside movement. Prices are currently developing near the 1.1300 handle and are remaining above the Ichimoku cloud and the 20-and 40-day moving averages. Despite today’s pullback the bullish picture is further […]
Crypto Industry News: The Reserve Bank of India (RBI) has denied any knowledge or involvement in a government bill that would impose a total ban on cryptocurrencies, according to an official document. Varun Sethi, a lawyer specializing in Blockchain, filed a request to RBI for information regarding the Indian daily’s report from April, which suggested […]
Crypto Industry News: The Reserve Bank of India (RBI) has denied any knowledge or involvement in a government bill that would impose a total ban on cryptocurrencies, according to an official document. Varun Sethi, a lawyer specializing in Blockchain, filed a request to RBI for information regarding the Indian daily’s report from April, which suggested […]
Crypto Industry News: Bitcoin analyst Oliver Isaacs believes that at the end of 2019, the currency will reach $ 25,000, according to a publication in the financial media: “There are many factors driving the recent rebirth. There are geopolitical, technological and regulatory factors. The net effect of the trade war between the US and China […]
Technical Market Overview: The GBP/USD pair did not make the breakout above the technical resistance at the level of 1.2747, just a local high was made at 1.2761. The market reversed slightly, but there is still no new low made, so the outlook is not certain for now, but due to the face that the […]
Technical outlook: We have presented a Daily chart view here to have a bigger picture. Please note that EURUSD might be carving out a potential ending diagonal and could be into its last Wave 5, after printing highs last week at 1.1347 levels. An ending diagonal consists of 5 waves labeled as 1 through 5 […]
GBP/USD On Friday, the British pound gained 46 points, having failed to overcome the resistance of the embedded line of the price channel of the daily chart. A divergence with the Marlin oscillator formed on the four-hour chart, which lowers the pound’s chances of overcoming the resistance and growth to the balance line of the […]
EUR/USD On Friday evening, Mexico and the United States managed to very quickly agree on migration and trade, therefore, according to Donald Trump, the United States will not impose duties on Mexican goods, which was scheduled for today. This is good news for the dollar. But the bad news was the labor data. The number […]
USD/JPY The expected difficulties with the growth of the pair from the supposed bottom of June 4-5 are already evident. On Friday, the price at the moment fell by more than 70 points, not reaching this very bottom. Today’s session began with a price break up, which is another sign of a price drop for […]
EURUSD as we mentioned in previous posts, has most probably made an important long-term bottom around 1.11 and has reversed to the upside. Having broken out of bearish channels, EURUSD pulled back during the week confirming the support at 1.12 and since then has resumed the up trend reversal to end the week near its […]
Gold price ended the week close to its highest level and to new weekly closing highs, even above February highs. There is very important long-term resistance at $1,350 and it is very worrying the fact that we have bearish divergence signs. Blue line – major resistance trend line Green line – support trend line Gold […]
Since January 19th, the EURUSD pair has been moving within the depicted channel with slight bearish tendency. Few weeks ago, a bullish Head and Shoulders reversal pattern was demonstrated around 1.1200 allowing further bullish advancement to occur towards 1.1300-1.1315 (supply zone) where significant bearish rejection was demonstrated on April 15. For Intraday traders, the price […]
On March 29, a visit towards the price levels of 1.2980 (the lower limit of the newly-established bearish movement channel) could bring the GBPUSD pair again towards the upper limit of the minor bearish channel around (1.3160-1.3180). Since then, Short-term outlook has turned into bearish with intermediate-term bearish targets projected towards 1.2900 and 1.2850. On […]
On Thursday, the euro rose to a 7-week high, as Mario Draghi’s rhetoric turned out to be less “dovish” than expected. On Friday, after a slight slide down, the quotes of the main pair rushed up again, and the speed was much stronger than the day before. The catalyst, as expected by the market, was […]
Two weeks have passed since British Prime Minister Theresa May announced her intention to resign. Today, she officially leaves the post of Chairman of the ruling Conservative Party in the country but will continue to serve as head of the Cabinet until her successor is determined. The election of a new Tory leader will be […]
Today, Theresa May is leaving the post of leader of the Conservative Party, fulfilling her promise, announced at the end of May. However, for the time being, she has lost only her political position – until the moment when her successor is determined, May will serve as the acting Prime Minister of Britain. The pound […]
The pound is expected to have a busy start to next week as the latest update on UK GDP growth and industrial production will hit the markets on Monday at 0830 GMT, while on Tuesday at the same time employment data will provide another insight into the British economy. The stats however may not be […]
BTC has been trading upwards and it started to establish the short-term uptrend. Our advice is to watch for buying opportunities. Smaller white lines – Bullish flag (broken) Larger white line – Resistance trendline (broken) Gray rectangle – Resistance and upward objective We found strong push and new momentum on the upside on the MACD […]
Gold has been trading upwards exactly like we expected. The price tested the level of $1.344. The momentum is still very strong and we expect more upside to come. Watch for buying opportunities. White lines – Trading range with the resistance at $1.344 Red horizontal line– Projected upward target in case of the upward break […]
GBP/USD did trade strong upward after the Non-Farm employment change numbers. We see potential new push up till end of the day. Watch for buying opportunities. Gray rectangle – support 1.2726 Red middle line – Middle of the Bolinger band Yellow lines – Fibonacci expansion (resistance levels) We found strong push and new momentum on […]
Watch our ”Weekly Forex Review and Outlook” to catch up on the past week’s main events and their impact on major currencies and also find out what important economic data will be coming up in the future. Visit our page for more: http://www.xm.com the international Forex broker. Risk warning is correct at the time of […]
As the global growth outlook darkens again, traders will be paying attention to the slew of data that’s expected out of China, the United Kingdom and the United States next week for clues on how major economies are withstanding the increased trade uncertainty. Important indicators are also due from Australia and Japan, while the Eurozone […]
Selling interest is continuing in the AUDJPY market, remaining below the 20-day simple moving average (SMA). However, the technical indicators are suggesting a possible upside correction. The MACD is strengthening its bullish momentum above the trigger line, while the RSI is looking slightly positive in the negative threshold. Should positive pressure come in play and the […]
EUR / USD Yesterday’s trading day for the EUR / USD pair unexpectedly ended with an increase of 55 basis points. Although the rhetoric of Mario Draghi left much to be desired, all market expectations boiled down to the fact that the Eurocurrency, with such an attitude, the head of the European regulator will fall […]
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