Price is approaching its resistance supported by USD weakness and positive China’s Caixin PMI results. We do expect it to rise to its resistance before reversing down especially since we expect AUD weakness due to a highly possible rate cut this week by the RBA.Entry : 0.6965 Why it’s good : 50% Fibonacci retracement, 100% […]
EURJPY reversed off key resistance, a drop to first support is possible Entry: 120.89 Why it’s good : 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low resistance Stop Loss : 120.56 Why it’s good :100% Fibonacci extension,76.4% Fibonacci retracement Take Profit : 121.58 Why it’s good: 23.6% Fibonacci retracement, horizontal pullback resistance The material […]
Forecast for June 3: Analytical review of H1-scale currency pairs: For the euro / dollar pair, the key levels on the H1 scale are: 1.1227, 1.1218, 1.1194, 1.1181, 1.1157, 1.1146, 1.1129, 1.1115, 1.1099, 1.1080 and 1.1067. Here, the price has issued the potential for upward movement of May 30 in the correction zone of the […]
The Dollar index ended last week on a mixed to bearish note as price recaptured the critical resistance at the 98 price level only to lose it with a big decline on the last trading day of the week. Red rectangle – major resistance Green rectangle – major support The Dollar index made new highs […]
Gold price has given us bullish signals the last couple of trading days of the past week. First short-term resistance at $1,288 was broken and now we have price back above $1,300 breaking important trend lines resistance. Holding above $1,300 and specially $1,290 is key for the bullish scenario. Green line – major support trend […]
BTC has been trading sideways at the price of $8.364. Anyway, we fund strong down break in the backgorund and the movement that we got now looks very corrective. Watch for selling opportunities. White lines – bear flag White rectangle- strong resistance Red horizontal line – swing low (support) After the strong down break, we […]
Gold did extacly how we planned yesterday. Our targets from yesterday were met. Gold is in strong upward momentum and you should only focus on buying opportuntiies on the pullbacks. Red rectangle – target 1 Red rectangle- target 2 Strong upward momentum on the Gold. The price did break the resistance level at $1.284, which […]
GBP/USD has been trading upwards as we expected. The price did break the supply trendline and downward channel, which is sign of the strength. Watch for bull flag to confirm further upside. White lines – downward channel White rectangle- key support Red horizontal line – Important resistance We found strong break of the downward channel […]
4-hour timeframe The amplitude of the last 5 days (high-low): 86p – 81p – 54p – 59p – 60p. The average amplitude over the last 5 days: 68p (72p). As for the pound/dollar pair, the bears did not even want to reduce the “dollar” positions at the end of the month, so great is the […]
4-hour timeframe The amplitude of the last 5 days (high-low): 38p – 29p – 39p – 49p – 27p. Average amplitude over the last 5 days: 36p (47p). As we expected in the evening review yesterday, the euro/dollar pair began to adjust on the last trading day of the week and month. Correction – purely […]
To open long positions on GBP/USD, you need: Problems with Brexit and the increase in the probability of the UK leaving the EU without an agreement led to a decrease in the British pound again, which indicates a continuation of the downward trend. However, the fall in GBP/USD in the first half of the day […]
To open long positions on EURUSD, you need: Despite the weak inflation in Germany, euro buyers managed to return to the resistance level of 1.1143 in the first half of the day, which I mentioned in my morning review. The next target is the area of 1.1170, where today I recommend fixing the profits. When […]
The single European currency fell against the US dollar for four consecutive months and four of the last five days, but managed to do the main thing – to stay within the trading range of 1.113-1.1265. Despite disappointing statistics on German retail sales (-2% with a forecast of +0.4% m/m) and inflation (+1.4% with a […]
After a calm trading day yesterday, the markets declined sharply after Donald Trump sent a tweet condemning Mexico for the immigration crisis at the southern border. In the tweet, he said that the US will impose a 10% tariff on all goods from Mexico to the United States. The tariff will go up to 25% […]
This month, corn has been one of the best-performing assets. It has gained by more than 14% and outperformed the overall market, which has fallen due to the increasing trade tensions. Corn, which is planted mostly in the United States has been boosted by the current inclement weather. As the flooding continued, farmers delayed planting […]
What is happening on Forex causes a feeling of deja vu more and more. The beginning of this year was marked by a sharp change in the tone of the Fed statements, which increased the risk of breaking the uptrend in USD. However, the “dovish” rhetoric of other leading central banks sent the greenback competitors […]
Overview: Pivot: 1.1166. The EUR/USD pair continues to move downwards from the level of 1.1192. Last week, the pair dropped from the level of 1.1192 to the bottom around 1.1111. Today, the first resistance level is seen at 1.1192 followed by 1.1216, while daily support 1 is seen at 1.1111. According to the previous events, […]
Overview: The Aussie (AUD/USD) pair is set above strong support at the levels of 0.7046 and 0.7168. This support has been rejected four times confirming the uptrend. The major support is seen at the level of 0.7046, because the trend is still showing strength above it. Accordingly, the pair is still in the uptrend in […]
Flash inflation readings from the Eurozone next week could cause more misery for the euro, which is already under pressure from a transforming political landscape across the bloc and an empowered Matteo Salvini in Italy. Eurostat will publish the flash report on Tuesday at 09:00 GMT but the readings will probably not be good news […]
4 hour timeframe There are a lot of factors affecting the price of all types of oil and in most cases, they are contradictory. For example, the US sanctions against Iran and Venezuela clearly reduce the supply on the oil market. The trade war between China and the States could potentially reduce energy demand. Oil […]
GER30 index dived below a former key support area of 11,700 on Friday, signalling the continuation of the bearish action. The RSI is backing this view as well as the indicator keeps losing ground under its 50 neutral mark, while the MACD is giving extra negative warnings as long as it extending negative momentum below […]
For the previous day, the euro / dollar currency pair showed the smallest volatility since Monday – 27 points, as a result of having the maximum convergence with the fulcrum and the subsequent slowdown. From the point of view of technical analysis, we see that after reaching the pivot point, which is already in the […]
Copper futures with delivery on July 2019 are declining with strong momentum over the last three days below the 20- and 40-simple moving averages (SMAs) in the daily timeframe and recording a four-month low of 2.6260 today. The technical indicators are remaining in the bearish territory, with the RSI sloping down in the oversold zone and […]
The Reserve Bank of Australia (RBA) is widely expected to cut rates when it announces its policy decision on Tuesday at 04:30 GMT. With a cut fully priced in already, and another one by September, price action in the aussie will likely depend mainly on how aggressive the signals for future easing are. While the […]
According to analysts, leading digital currencies stabilized after a fall on Thursday, May 30. Now they are ready to move on and for this, they have all the opportunities, experts say. The growth rate of Bitcoin amounted to 0.72% up to $8,664over the past day. The market capitalization of the leading virtual currency reached $154.8 […]
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As the US dollar heads for fresh two-year highs, next week’s nonfarm payrolls report could be key in deciding whether the dollar’s persistent strength will hold out for much longer. The Australian dollar will also be under the spotlight as the country’s central bank could make its first rate cut in three years. The European […]
News on US GDP for the first quarter (second reading) is expected. The GDP growth decreased to 3.1% from 3.2% and deflator reduced from + 0.9% to 0.8. The Fed made it clear that the Fed should not expect an increase in interest rates. It should be noted that the yield of treasuries decreased to […]
EUR / USD On May 30, Thursday, trading ended with a loss of just a few basis points for the EUR / USD currency pair. Thus, the wave marking has not changed over the previous day. In general, it is also worth noting that the market activity for the euro / dollar pair is now […]
The next key releases for the dollar will be the ISM manufacturing and non-manufacturing PMIs for May, due on Monday and Wednesday respectively, both at 14:00 GMT. Forecasts point to a rebound in both figures, but considering the escalation in trade conflicts, those seem overoptimistic. Disappointing numbers may hurt the dollar a little, but for […]
