Forex

Brent crude oil futures has gained a little extra this week to jump above the 20-period simple moving average (SMA) and re-challenge the 40-SMA. The technical indicators are currently feeding prospects for a possible positive short-term trading as the RSI is holding above 50 level, while the MACD continues to strengthen above its trigger line. However, the stochastic oscillator is flagging overbought conditions, as it fluctuates above […]

Markets hopeful the US and Mexico can reach a deal on migration to avert tariffs Dollar inches higher ahead of May nonfarm payrolls report Euro firmer after ECB meeting as Draghi fails to provide strong easing signals Optimism about US-Mexico talks lifts markets Global stock indices were headed for weekly gains as expectations that the […]

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USDCAD lost around 1.20% this week to fall back below its 20- and 50-day simple moving averages (SMA) and into the Ichimoku cloud, while the momentum indicators turned bearish, flagging further weakness ahead. The MACD entered the negative zone, deviating further below its red signal line, and the RSI slipped under its 50 neutral mark. The […]

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 […]

Trend analysis (Fig. 1). On Friday, we are waiting for the continuation of the upward movement with the first target of 1.2744 – the upper fractal. Much will depend on the news that comes out at 12.30 Universal time. Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; […]

Trend analysis (Fig. 1). On Friday, before the news, the price will move down to the side channel. After working out the news – (according to the forecast – upward movement), the downward trend will continue with the first target of 1.1233 – a pullback level of 38.2% (yellow dashed line). Much will depend on […]

GBPJPY is trading not too far from the five-month low of 136.55, having pulled back slightly. The momentum indicators suggest there is still some upside for the pair to advance again, despite the downward movement on the red Tenkan-sen line. The near-term bias is looking neutral-to-bullish as the RSI is flattening near the 30-oversold level, while the MACD […]

To open long positions on GBP/USD you need: Yesterday, pound buyers made another attempt to grow above the resistance of 1.2739, which was again unsuccessful. Today, in the first half of the day, attention will be shifted to the report on inflation expectations, which can help the pound to get above the resistance of 1.2705, […]

To open long positions on EURUSD you need: The euro continued to rise despite the statements of the ECB president about a possible interest rate reduction. Currently, buyers need to climb to the resistance level of 1.1273, which will lead EUR/USD to the highs of 1.1304 and 1.1336, where I recommend taking profits. However, the […]

Technical outlook: The EURUSD pair retested the recent swing highs at the 1.1300 level yesterday before pulling back again. The pair might be still in favor of bears with the risk of the 1.1320 resistance being tested. In case 1.1320 is broken, the bias may shift towards bulls and buying on dips would be considered […]

On Thursday, the main event of the week for the euro was held – the ECB meeting. The ECB did almost everything to prevent the euro from rising: the ECB left rates at record lows. The head of the ECB said that the rate increase was postponed at least until mid-2020. In addition, members of […]

Technical Market Overview: The GBP/USD bulls tried again the break through the technical resistance at the level of 1.2747 but were capped just a little below this level at 1.2740. The pull-back is still shallow and another attempt could be made, but the momentum is barely above its fifty levels, so the up move is […]

Crypto Industry News: Japanese companies did not report crypto gains of $ 93 million over the past few years until March 2019, according to local media. According to them, about 30 enterprises related to cryptography and 50 people have not declared their revenues from cryptocurrencies since March, allegedly due to the high tax on this […]

Crypto Industry News: The European Union has informed Malta that it needs to improve its resources to fight potential financial crimes as a result of the popularity of cryptocurrencies, according to the local Malta Today press. In a letter to Member States advising on how to spend EU funds, the European Commission pointed out that […]

EUR/USD The results of yesterday’s meeting of the ECB turned out to be quite expected: the TLTRO-III program will be launched in September with a credit rate of about zero, the first rate increase will be no earlier than the middle of next year, the economy’s prospects are reduced – from 2020 to 1.6 %, […]

EUR/GBP On Tuesday, June 4, the price turned down from the level of 0.8901, which is the high on July 9, and which on August 14 the price was able to overcome from above, turning to 195-point growth. The observed reversal occurred with the formation of a divergence with the Marlin oscillator on the daily […]

GBP/USD On Thursday, under the influence of activity on the euro in connection with the ECB meeting, the pound sterling grew by more than 50 points, but as a result, closed the day with an increase of only 7 points. Growth stopped near the highs of June 5 and May 27. At this price surge, […]

The euro ignored data on the growth of the eurozone economy in the 1st quarter of this year, as traders closely followed the ECB report. Even despite the fact that the expected dates for raising interest rates in the eurozone were shifted to the middle of next year, and Mario Draghi signaled a possible decrease […]

Mario Draghi again disappointed – but not the eur/usd bulls this time, on the contrary it was the bears. The head of the ECB voiced a rather reserved position, maintaining the appropriate balance in his rhetoric. Sellers of the euro-dollar pair, in turn, became the victims of their own high expectations. Judging by previous forecasts, […]

USDJPY has reached the lower boundary of a huge triangle pattern valid since June 2015. The room to move is getting smaller and a breakout could signal a big move for this pair. For now support remains respected. Blue lines -triangle pattern The lower triangle boundary is found at 107.90-108 and this week price has […]

EURUSD bulls are still alive. Despite the double top and initial rejection at 1.1260, price made a pull back towards support area of 1.12 and bounced back up and closed today above 1.1260. Medium-term trend has changed to neutral from bearish. Red lines – bearish channel Black line – major support EURUSD is about to […]

BTC price has been trading downwards as we expected. The price tested the level of $7.650. Anyway, we are still expecting more downside on BTC due to strong downward momentum in the background. Our analysis from yesterday didn’t change much. Blue rectangle – support $7.416 Punc rectangle- Downward target and support $7.000 BTC did break […]

To open long positions on GBP/USD, you need: Buyers of the pound are trying to gain a foothold above the resistance of 1.2713, which will allow to build a new upward trend with an update of the maximum in the area of 1.1257, where the upper limit of the current upward channel passes. In case […]

To open long positions on EURUSD, you need: After the ECB’s decision and the statements that followed, the euro fell against the US dollar, but buyers are expected to return from the level of 1.1200, which I drew attention to in my morning forecast. Now, their task will be to break through and consolidate above […]

CADJPY has been finding strong resistance on the 38.2% Fibonacci retracement level of the downward wave from 89.25 to 76.60, near 81.42, falling beneath the 20-simple moving average (SMA) in the daily chart. Having a look at the momentum indicators, the RSI is sloping down below the neutral threshold of 50 and the MACD is hovering near the […]

From April to mid-May, economic activity grew at a modest pace which somewhat improved compared with the previous period as a whole. In almost all districts, there was some growth and a moderate increase in activity was observed in some of them. Production reports were generally positive but in some districts, there were signs of […]

Despite GDP growth rebounding in the first quarter, industrial output and trade data out of Germany at 0600 GMT on Friday are projected to show that the biggest EU economy is not out of the woods yet. In the first three months of the year, the German economy which stagnated at the end of 2018, expanded by […]

GBPCAD has been on the sidelines for the most part of the week as the 1.7130 level seems to be a real struggle for the bulls. Technically, the price could lose some ground in the short-term as the RSI is flattening near the 30 mark, while the stochastics are warning of an oversold market, but it seems to be […]

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 […]