The breakthrough of important support led to a further downward correction of bitcoin in the area of the minimum of 7 550, where the demand for cryptocurrency resumed. As I noted yesterday, the first wave of the fall was associated with the expiration of futures contracts, while a further decline was formed by profit-taking speculative […]
To open long positions on GBP/USD, you need: Yesterday, buyers of the pound coped with the task and fixed above the resistance of 1.2697, which now acts as a support. While trading will be conducted over this range, the demand for the British pound will remain, which may lead to an update of the maximum […]
To open long positions on EURUSD, you need: Buyers of the euro, given the divergence and weak data on the eurozone, failed to cope yesterday with the resistance of 1.1261, which is now transformed into 1.1271. To continue the growth, a breakdown of this range is necessary, and good data on the volume of retail […]
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 […]
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 […]
Global stocks receive a major boost from Fed’s Powell after he opens the door to a rate cut But rising rate cut expectations pull the US dollar to fresh lows Aussie extends gains despite weaker-than-expected GDP growth Stocks surge after Powell’s comments Fed Chairman Jerome Powell paved the way for a rate cut on Tuesday, […]
Work in the downward direction is moving to the medium-term level, however, yesterday the pair reached the range of the average weekly progress. Sales from the current marks are not profitable. For this reason, it is necessary to exit the short position and wait for more favorable prices to open new sales. Purchases are possible […]
It is our pleasure to announce an event not to be missed in Kuala Lumpur on 27th July: a financial panel discussion conducted by three market experts on the global financial markets and investment opportunities. Due to take place at Sheraton Imperial Hotel, the event features special guest Peter McGuire, CEO of XM Australia and […]
AUDUSD gained stronger positive traction this week, with momentum indicators giving the green light for further bullish action in the short term; the MACD is in an uptrend well below its red signal line, while the RSI is speeding up above its 50 neutral level. According to Stochastics though, room for improvement could be limited as the index has already pierced its […]
EURJPY had a bullish start on Monday, after the strong rebound on the five-month low of 120.77, with the price breaking a crucial level of 121.00 and the 20-period simple moving average (SMA) in the 4-hour chart. The pair is approaching its negatively sloped 40-SMA, which is acting as a key resistance level. The RSI […]
Today, it is necessary to consider the pattern of “false breakdown” of yesterday’s low, as the pair is trading within the weekly CZ limit of 1.3382-1.3365. Going beyond the average weekly course makes it possible to talk about a return to its limits with a probability of 90%. It should be used for the fixation […]
EUR/USD On Tuesday, the euro slightly modified our scenario with the expected price squat to the level of 1.1216 before further upward movement – the price did not reach this level and fixed above 1.1255 – the line of the price channel. Before the price opens the target of 1.1324 (maximum of April 17), but […]
GBP/USD Following Tuesday’s results, the British pound grew by 35 points, consolidating above the price level of 1.2660 (minimum of August 2018), anticipating the achievement of the goal of 1.2756 – the resistance of the nested line of the price channel of the higher timeframe. A notable event yesterday was the statement of US President […]
AUD/USD On Tuesday, the Australian dollar struggled with the resistance of the MACD line of the daily scale, to which the balance line (indicator red) rushed to the rescue, which became an irresistible resistance for the price. But this morning, thanks to a good GDP indicator for the first quarter of 0.4%, the price went […]
Dear colleagues. For the currency pair euro/dollar, we follow the development of the upward cycle from May 30 and the continuation of the upward movement is expected after the breakdown of 1.1266. For the currency pair pound/dollar, we follow the development of the upward structure from May 31 and we expect the continuation of the […]
Crypto Industry News: The US regulatory body Commodity Futures Trading Commission (CFTC) is in talks with Facebook about the upcoming launch of stablecoin, cryptocurrency media report. Referring to chairman J. Christopher Giancarlo, the publication revealed that Facebook is attempting to soften the regulatory landscape against the asset, now called GlobalCoin, which will allegedly come into […]
Crypto Industry News: The director of Blockchain and DLT at the World Economic Forum (WEF), Sheila Warren, claims that Blockchain can be a solution to the deteriorating crisis of confidence around the world. Warren claimed that public confidence in governments, banks, media, and institutions in the United States “erodes quickly”. Then she noticed that he […]
Technical Market Overview: The EUR/USD has tried to break through the technical resistance at the level of 1.1273 and made the new local high at the level of 1.1277, but failed to continue as Shooting Star candle was made at this level. Any breakout through this zone will change the temporary outlook from bearish to […]
The GBP/JPY pair has recovered from 136.63. Now it is testing important resistance at 137.48. If this resistance is broken too, then we see wave 2 as complete and wave 3 developing for an ultimate break above the March peak at 148.87. Support is seen near 136.97 which ideally will protect the downside if wave […]
Technical Market Overview: The GBP/USD pair has managed to break above the technical resistance at the level of 1.2683 and is heading towards the next technical resistance located at the level of 1.2747. The momentum is now positive and quite strong, but the market conditions are starting to become overbought. As long as the level […]
EUR/JPY is about to test important resistance at 122.26 and a clear breakout above it will confirm that the wave ii has completed with the test of 120.75 and the wave iii is developing for a new impulsive rally to above 127.50. Short-term support is now seen at 121.27 which will protect the downside for […]
EURUSD is challenging the important horizontal resistance at 1.1260. Having broken out and above the medium-term bearish channel it was in since last December, EURUSD has the potential for a new upward move that will bring price even above 1.2550. So what is the risk for bulls expecting a new long-term upward move?Only 160 pips […]
Gold price made a pull back today towards $1,320-18 area as we expected from our last analysis yesterday. Price then turned back upwards towards its recent highs. Trend remains bullish. A pause to the sharp rise is expected in order for the market to digest the sharp move. Black line -major resistance trend line (broken) […]
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 […]
BTC has nice drop as we expected yesterday. Our downward target at the price of $7.990 has been met. We still expect more downside on the BTC to come. Blue rectangle – Support 1 and downward target- $7.416 Pink rectangle – Support 2 and downward target 2- $7.025 White rising line – Support (bearish flag […]
Gold has been trading upwards as we expected. The price tested the level of $1.324 and then started to consolidate. We still expect more upside on the Gold, so watch for buying opportunities. Blue rectangle – Upward target $1.345 White lines- flat channel White rising line – Support $1.319 We found that today is nothing […]
In recent days, the US currency is cheaper against most of its major competitors, as investors began to lay in the quotes a higher probability of a decrease in the interest rate by the Fed before the end of this year. Investment banks such as Barclays, JP Morgan, NatWest Markets, have already said that they […]
The European currency failed to hold at weekly highs after the release of a more than disappointing report on the annual inflation rate in the eurozone, which slowed sharply, pushing even further expectations of the European Central Bank to reach the target level of 2.0%. Oddly enough, these data came out just at the time […]
To open long positions on GBP/USD, you need: Buyers of the pound coped with the morning task and reached the resistance of 1.2697. At the North American session, their task will be to break this range with the subsequent update of the maximum of 1.2744, where I recommend fixing the profit. When the pound is […]
