“You do not win – you win” – this is the principle that bears and bulls of the EUR/USD pair have been following over the past two weeks. By and large, the price is stuck in the price range of 1.1170-1.1210, although both buyers and sellers of the pair make periodic attempts to break through […]
In the first half of the day, reports on the eurozone economy did not allow buyers of risky assets to resume demand for the euro and continue the upward correction. The industrial production report disappointed traders due to a contraction for the second month in a row. According to the EU Statistics Agency, industrial production […]
4-hour timeframe The amplitude of the last 5 days (high-low): 51p – 31p – 77p – 41p – 42p. Average amplitude for the last 5 days: 48p (47p). The EUR/USD ends the second trading day of the week with a decline. So far, this movement can be called a correction, although the pair has already […]
EURUSD not only got rejected at the upper channel boundary at 1.1260, price also broke below short-term upward sloping trend line support. Medium-term trend remains bearish as price has not broken out yet. Red lines – bearish channel Blue rectangle – horizontal resistance of previous tops Black lines – support trend line EURUSD has broken […]
Gold has recently broken important technical resistance levels and is showing reversal signs. Gold price has started making higher highs and bulls now look for the possibility of a larger upward move towards $1,350-60. Black line – downward sloping trend line resistance Blue line -horizontal support Green line – upward sloping trend line support Gold […]
Few weeks ago, a bullish Head and Shoulders reversal pattern was demonstrated around 1.1200. This enhanced further bullish advancement towards 1.1300-1.1315 (supply zone) where significant bearish rejection was demonstrated on April 15. Short-term outlook turned to become bearish towards 1.1280 (61.8% Fibonacci) then 1.1235 (78.6% Fibonacci). For Intraday traders, the price zone around 1.1235 (78.6% […]
BTC has been trading upwards as we expected. Our target at $8.15 has been reached. There is potential for the pullback. According to the H4 time-frame, we found that there is momentum up decreasing, which is sign that buying looks risky. BTC is in extended run phase and potential pullback is expected. We found the […]
On March 29, the price levels of 1.2980 (the lower limit of the newly-established bearish movement channel) demonstrated significant bullish rejection. This brought the GBPUSD pair again towards the price zone of (1.3160-1.3180) where the upper limit of the depicted bearish channel as well as the backside of the depicted broken uptrend line demonstrated significant […]
Gold has been trading downwards in pat 24 hours. Anyway, there is still bullish view in the background. Further upward movement is possible. Gold did up break of the trading range in the background, which is good sign for further upward movement. Yesterday was the very wide range bar so the today’s pullback is normal […]
After a solid employment report, the next important release for the Canadian currency is the inflation figures on Wednesday at 1230 GMT. While forecasts are positive, the Bank of Canada (BoC), like most of its major counterparts, is not expected to change its neutral stance on interest rates, not before the domestic economic picture brightens […]
GBP/USD has been trading downwards as we expected yesterday. Anyway, there is potential for the rally in the next period so our advice is to watch for potential buying opportunities. We closed our short position from yesterday with the profit of 100 pips. The reason for our exit at 1.2908 is that we saw bullish […]
To open long positions on GBP/USD, you need: The divergence on the MACD indicator, which I paid attention to in the morning forecast, helped the buyers of the pound to stop the fall and form a small upward correction. While trading is above the support of 1.2930, we can expect the growth of GBP/USD in […]
To open long positions on EURUSD, you need: Inflation in Germany was quite predictable, so buyers of the euro have not been able to return above the level of 1.1251, which remains the task for the second half of the day. Only a breakthrough of this range will keep the upward momentum and will lead […]
After taking a beating from an escalation in US-China trade tensions, the Australian dollar will now look to the nation’s wage growth data for Q1, due at 00:30 GMT on Wednesday. The all-important employment stats for April will follow on Thursday at 01:30 GMT; they may prove crucial in determining whether the RBA will cut […]
China will publish the latest stats on industrial output, fixed-asset investment and retail sales on Wednesday at 2:00 GMT. The data will be watched to assess whether the rebound observed in March carried through to April amid worries the economy could lose momentum again as trade tensions flare up. With a trade deal hanging in […]
Rising oil prices continue to amaze market participants. On Monday, May 13, it rose by 3% but this is not the limit, analysts say. Experts are trying to figure out how dangerous the current rise in oil prices will follow if a sharp rise is no less deafening collapse. On Monday, Brent quotes reached $ […]
When a number of bullish news is already taken into account in prices and market attention shifts to the escalation of the US-Chinese trade war that threatens to undermine global oil demand, the growth of bearish prices by 39% for WTI in the week to May 7 looks logical. Speculators increased short-selling at the fastest […]
US President Donald Trump increased the pressure on China in order to achieve a new and more profitable trade agreement for his country. Moreover, he obviously does this in order to push the Chinese side to take active steps in the negotiation process. Trump obviously put everything in stake, hoping that the Chinese would “break […]
The main event for the dollar this week will be the US retail sales for April, due on Wednesday at 12:30 GMT. Amidst an escalating trade conflict, markets have fully priced in a Fed rate cut by December, yet the dollar has barely retreated. This highlights that the greenback is still the ‘only game in […]
Overview: 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, the EUR/USD […]
Overview: The 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 the […]
Wave counting analysis: On May 13, the GBP / USD pair lost about 50 basis points. However, this did not affect the clarification of the current wave marking. Moreover, the wave pattern is completely confusing. If you look at the part of the trend that takes its start on February 27, then it is obvious […]
Wave counting analysis: On Monday, May 13, trading ended for EUR / USD by 15 bp decline. However, during the day, the pair had an attempt to break through the previous supposed peak of wave 2. Thus, there is a growing chance that wave 2 will take on a clearly marked three-wave shape or the […]
Although the macroeconomic calendar was completely empty, market participants were not bored. As soon as it became known that China was introducing retaliatory duties on goods from the United States with a total of $60 billion, investors began to play against that same dollar. Fears were fueled by rumors that the Celestial Empire could stop […]
For the last trading day, the euro / dollar currency pair showed a relatively low volatility of 42 points, but still having an attempt to break the newly formed cluster. From the point of view of technical analysis, we had a move towards a local maximum on May 1, 1.1264, where the quotation felt a […]
Over the last trading day, the pound / dollar currency pair showed high volatility of 99 points, as a result of having a breakdown of stagnation and a pulse candle. From the point of view of technical analysis, we see that the holding level of 1.3000 fell and a pullback followed by stagnation served as […]
Trend analysis (Fig. 1). On Tuesday, technical analysis demonstrates an upward movement. The first upper target of 1.2997 is the pullback level of 24.6% (yellow dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis – up; – trend analysis […]
To open long positions on the GBP / USD pair, you need: Pound buyers, for stopping a downtrend, need to form a false breakdown in the support area of 1.2943 with confirmation of divergence on the MACD indicator. Only after that, it will be possible to count on a repeated upward correction in the area […]
Trend analysis (Fig. 1). Today, the upward movement with the target of 1.1264 is the upper fractal. In case of a breakthrough, a further upward movement with the target of 1.1275 is a pullback level of 76.4% (yellow dashed line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – […]
After a short pause, China has taken a number of retaliatory measures to increase import tariffs from the United States. Starting June 1, duties on goods amounting to 60 billion will be raised and despite the fact that US exports to China are significantly inferior in terms of imports, measures taken by China are more […]
