Technical Market Overview: The GBP/USD pair has made another leg down after a shallow pull-back towards the level of 1.3131. The move down has exceeded the level of 61% Fibonacci retracement located at the level of 1.3060 and made a new local low at the level of 1.3039. The momentum remains neutral during the move […]
EUR/USD On Tuesday, the euro was trading with an amplitude of 25 points while maintaining the technical conditions of uncertainty. The level of 1.1216, as the point of coincidence of the MACD line with a Fibonacci level of 100.0% on the daily chart, remains relevant since it is a possible turning point for the euro’s […]
The failure to build on the low at 123.35 indicates that the wave ii is not yet complete and a more complex correction is developing. In this regard, a deeper correction towards the support area between 122.14 – 122.51 should be expected before a possible low is established. Resistance is now seen at 123.74 and […]
Morning Report: 07.00 London This morning, the dollar index is on the back foot despite the RBNZ cutting rates and sending the NZD/USD plunging in the early hours of this morning. Since then, the Kiwi has recovered most of these losses, while the dollar index has lost ground and is challenging the week’s lows. The […]
GBP/USD Yesterday, the pound sterling fell by 21 points. The British currency tried to gain a foothold below the MACD line of the daily scale, but the strength of the indicator line, reinforced by supporting the Fibonacci level of 38.2%, has so far been stronger. Also, on a four-hour scale, the price was supported by […]
AUD/USD Yesterday, the Australian dollar made an intensive attempt to overcome the MACD line on a four-hour scale. The attempt turned out to be successful, but the formal consolidation of the price over this line has not happened so far, which was prevented by the collapse of the New Zealand dollar by 78 points after […]
Price bounced off our first support where we might see a further rise in price. Entry : 1.3047 Why it’s good : horizontal swing low support, 100% Fibonacci extension, 38.2% Fibonacci retracement Stop Loss : 1.3017 Why it’s good : 50% Fibonacci retracement Take Profit : 1.3125Why it’s good : horizontal swing high resistance, 61.8% […]
Price is approaching a key resistance at 0.7058 where it could potentially reverse to its support at 0.6998. Entry : 0.7058 Why it’s good : horizontal overlap resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension Stop Loss : 0.7089 Why it’s good : 50% fibonacci retracement Take Profit : 0.6998 Why it’s good : 61.8% Fibonacci […]
EURJPY is approaching its support where it could potentially bounce Entry: 123.16 Why it’s good :100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support Stop Loss : 122.38 Why it’s good : 61.8% fibonacci retracement, 100% Fibonacci extension Take Profit : 124.61 Why it’s good: 38.2% Fibonacci retracement, 61.8% Fibonacci retracement horizontal swing high […]
It’s no secret that Donald Trump likes to intimidate the markets; this is his favorite weapon. It is equally safe to say that all these threats cannot be taken at face value. If Washington actually introduces new duties, which Trump tweeted, then the tariff barrier between the US and China will be higher than in […]
When pursuing many goals, you need to be prepared for the fact that they will begin to contradict each other. With a statement about raising tariffs from 10% to 25% for $200 billion worth of Chinese imports from May 10, Donald Trump brought Brent and WTI down by more than 2%, but at the same […]
A miracle did not happen: Brexit was again stuck in a swamp of counterproductive negotiations. Theresa May and the Labour Party representatives could not come to a common decision, and this fact became obvious. According to the British press, on Tuesday, the prime minister was supposed to submit her updated action plan, which would include […]
The Reserve Bank of Australia has come to the aid of the Australian currency, which paired with the dollar is in the area of the psychologically important mark of 0.7000. Against the background of a general increase in anti-risk market sentiment, yesterday, AUD/USD bears were able to lower the price for a key support level, […]
4-hour timeframe The amplitude of the last 5 days (high-low): 53p – 78p – 48p – 70p – 37p. Average amplitude for the last 5 days: 57p (58p). The EUR/USD pair ends the second trading day of the week with a decline of “as much as” 30 points. Formally, this is still a downward movement, […]
Fundamental Analysis: Australia’s retail sales data which represents consumer spending came in better than expected, rising to 0.3% month on month in march, beating the expected of 0.2%. However, this figure marks a significant slowdown in spending from the 0.8% growth registered in February. Furthermore, Australia’s trade surplus widened to A$4949 million in March, topping […]
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% […]
Trend remains bearish in EURUSD in the Daily and weekly time frame according to the Ichimoku cloud indicator. There is no sign of trend reversal but in this post we will point out the levels bulls need to break in order to reverse trend according to Ichimoku cloud indicator. In both the Daily and in […]
Gold price is challenging important resistance trend line and we should soon see either a breakout towards $1,300 and higher or a rejection and a move below $1,270 towards $1,250-60. Red rectangle – major confluence zone Blue line- major resistance trend line Blue rectangle – short-term support Gold price is challenging the downward sloping blue […]
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 […]
Data indicating a sharp slowdown in the German manufacturing sector, which is experiencing a clear recession, as well as a revision of the forecasts of the European Commission for the worse, and are putting pressure on the European currency, which is gradually declining in the pair with the US dollar. If the soft monetary policy […]
Societe Generale and Rabobank experts agree that the monetary policy pursued by the Fed and the ECB has become a less significant driver for the EUR/USD pair than the economic growth indicators of the US and the eurozone. At the same time, currency strategists of banks have different assessments of the pair’s short-term prospects. Thus, […]
The RBNZ will announce its decision early on Wednesday, at 02:00 GMT. The forecast from economists is for a rate cut, but investors are not convinced, with market pricing assigning only a ~40% chance for one. Indeed, the Bank may hold its fire for now and postpone any cut until the summer. The kiwi will […]
Overview: The NZD/USD pair is showing signs of weakness following a breakout of the lowest level of 0.6648. On the H1 chart, the level of 0.6648 coincides with 23.6% of Fibonacci, which is expected to act as minor support today. Since the trend is below the 23.6% Fibonacci level, the market is still in a […]
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 […]
BTC did break the resistance of the trading range at $6.110 and confirmed further upward continuation. It is the late stage of the upward trend but seems that there is still fuel for the upside. Purple rectangle – Resistance which became support Green rectangle – Support Green channel – Potential bullish flag According to the […]
USDTRY has been in a flying mode today, reaching a new seven-month high of 6.1952. Looking at the technical indicators, the RSI is still hovering in the overbought area, suggesting a possible overstretched market in the daily chart, while the MACD rose above the trigger line, confirming the recent bullish tendency in price action. If the […]
Gold has been trading sideways at the price of $1.279. Gold is trading inside of defined range between $1.285 and $1.277. We are neutral to bearish on the Gold. Yellow horizontal line – Support 1 Yellow horizontal line – Support 2 Blue line – Middle of Keltner Channel EMA According to the H1 time-frame, we […]
EUR/USD has been trading sideways at the price of 1.1186. EUR did break the support trendline in the background, which is sign that sellers took control from buyers at least on the intraday prospective. Yellow rectangle – Resistance 1 Yellow rectangle – Resistance 2 Yellow horizontal line – Support 1 Yellow horizontal line – Support […]
EURNZD recorded a fresh four-month high of 1.6987 earlier today, finding resistance near the 200-day simple moving average (SMA). The RSI and the MACD are increasing distance above the 50 level and the zero line respectively, increasing speculation for more upside pressure in the short-term. In case the pair maintains its short-term direction to the upside after the bounce […]
This June, and for the first time, XM hosts two educational seminars in Vietnam, where we look very much forward to welcoming our existing and new clients who would like to improve their online investing skills with the help of the free XM forex events. Apart from our recently introduced forex webinars in Vietnamese language, […]
