The US reports preliminary GDP growth figures for the first quarter of 2019 on Friday at 1230 GMT, while at the same time on Monday, the March core Personal Consumption Expenditures (PCE) index, will move front and center to add further clues on whether an accommodative monetary policy is indeed necessary in the year ahead. While […]
USDTRY has advanced above the 20- and 40-day simple moving averages (SMAs) and the 23.6% Fibonacci retracement level of the sell-off from 7.1135 to 5.1330, hitting a new six-month high of 5.8753. Looking at the technical indicators, the stochastic is switching to the upside, challenging the overbought territory, while the RSI is approaching the 70 […]
Wave counting analysis: On April 23, the GBP / USD pair dropped another 40 basis points. and finally made a successful attempt to break through the lower generatrix of a narrowing triangle and the level of 0.0%. Thus, the conclusion suggests itself that the instrument is ready for the construction of a downward wave 3, […]
For the last trading day, the euro / dollar currency pair showed a high volatility of 69 points, as a result of having a pulse downward movement. From the point of view of technical analysis, we see that the short rollback from 1.1225 was replaced by a pulse train, bringing us close to the key […]
4-hour timeframe Technical details: The upper linear regression channel: direction – down. The lower linear regression channel: direction – up. Moving average (20; smoothed) – down. CCI: -118.4486 On Wednesday, April 24, the EUR/USD currency pair retains the downward movement that began yesterday, there are no signs of the beginning of the correction at the […]
Yesterday, a good report on new home sales in the US provided significant support to the US dollar, which strengthened against a number of world currencies, and weak consumer confidence in the eurozone only increased the pressure on the euro. According to the US Department of Commerce, sales of new homes in March 2019 increased […]
Another large wave of Bitcoin growth allowed reaching the resistance level of 5670, but a bearish divergence is formed on the MACD indicator. This suggests that the rate in the near future will either remain in the side channel, or a downward correction will be formed. Therefore, I do not recommend to hurry with the […]
4h After the formation of the bearish divergence at the CCI indicator, the EUR/USD pair on the 4-hour chart performed a reversal in favor of the American currency and closed under the Fibo level of 76.4% (1.1241). As a result, on April 24, the process of falling can be continued in the direction of the […]
4h As seen on the 4-hour chart, the GBP/USD pair completed closing under the Fibo level of 61.8% (1.2969). Thus, the pair quotes continue the process of falling in the direction of the next retracement level of 50.0% (1.2868). The rebound of the pair on April 24 from the retracement level of 50.0% will allow […]
Over the past trading day, the currency pair pound / dollar showed volatility, close to the average daily 90 points, where as a result, we got a breakthrough of the previously formed cluster. From the point of view of technical analysis, we have a breakthrough of the 1.2970 / 1.3000 cluster in a downward direction, […]
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Data from the United States had strong support for the US dollar against major currencies, which can probably serve as a noticeable decrease in expectations of a more radical change in the Fed’s monetary policy. According to the data presented, sales of new housing in March rose sharply to 692,000 compared to the February value […]
Trend analysis (Fig. 1). On Wednesday, technical analysis demonstrates a downward movement. The first lower target of 1.2910 is the pullback level of 50.0% (blue dotted line). When breaking through – go further down. Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – down; – […]
Trend analysis (Fig. 1). On Wednesday, the market will continue to move down. The first lower target 1.1175 is the support line (blue bold line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – down; – candlestick analysis – down; – trend analysis – down; […]
To open long positions on GBP/USD, you need: Buyers have missed the support level of 1.2948, and their main task for the first half of the day will be to return and consolidate above this range. Only after that, it will be possible to talk about the upward correction in the area of the maximum […]
The S&P 500 is one of the most-closely watched indices in the world. This is because it is made up of the biggest public companies in the United States. In terms of variety, the index is more diverse than the other indices like the Dow, which is made up of just 30 companies. Yesterday, the […]
Today, the focus among the investment community will be in Canada, the tenth largest economy in the world. It has a GDP of more than $1.6 trillion. They will focus on the bank of Canada, which will release the interest rates decision. The bank is expected to leave interest rates unchanged at the current 1.75%. […]
Australia is an important country in the Pacific with a population of more than 24 million people and a Gross Domestic Product (GDP) of more than $1.32 trillion. This makes it the 14th largest economy in the world. Other than its scale, Australia is important among the investment community for a number of reasons. First, […]
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 […]
EURJPY is trading lower after it faced a double top formation on the 126.80 resistance level on April 15 and April 17. The price is challenging today the 50.0% Fibonacci retracement level of the upleg from 123.65 to 126.80 around 125.20, posting a new two-week low. The successful fall below the 20- and 40-simple moving […]
To open long positions on EURUSD, you need: The repeated test of the level of 1.1207 will lead to a breakdown and a further decline of the euro, so buyers should better look at long positions after updating the weekly minimum around 1.1185 or at a rebound from larger support of 1.1149. The main task […]
Crypto Industry News: The “Blockchain Bandit” managed to collect nearly 45,000 ETH by guessing weak private keys, according to a report released today by the Independent Security Evaluators. A senior security analyst, he said he discovered a sophisticated hacker by accident. Guessing the private key is supposed to be statistically unlikely, but thanks to his […]
The dollar index returned to the 97-point area yesterday and the indicator’s growth was rapid, reflecting the situation on the foreign exchange market. Greenback showed character in almost all dollar pairs with the only exception to the USD/JPY pair. Even the pound could not resist the pressure of the American currency, although the British tried […]
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 […]
EURGBP has been steadily rising this month, piercing its short-term simple moving averages (SMA) and the Ichimoku cloud. The bias is still positive as the red Tenkan-sen is trending northward and above the blue Kijun-sen, while the MACD is increasing strength above its red signal line. The RSI is also fluctuating in bullish zone (above 50),though with weaker […]
After having visited numerous cities throughout Malaysia since the beginning of 2019, XM continues its seminar series in many more locations to bring professional forex education in closer proximity to retail investors interested in forex trading. We are pleased to invite all those keen on embarking on high-level forex education to our upcoming seminars in […]
Bank of Canada may not be as dovish as markets expect today US stocks close at new record highs on blockbuster earnings Dollar rallies amid demand for US equities Aussie suffers after disappointing CPIs fuel rate-cut bets BoC: Cautious, but less than markets expect The main event today will be the Bank of Canada (BoC) […]
Crypto Industry News: The second largest stock exchange in the world, Nasdaq, allegedly tests the trade of a Bitcoin-based product, according to an analyst from the strong market analytics service. Cryptopolis, a quantitative analyst at Strong Market, wrote on Twitter that he bought one Bitcoin on Monday through an account at a retail brokerage firm […]
Last week, sales were opened. The current week should be completely closed, as the tool went beyond the weekly move. This fact suggests an increase in the probability of corrective movement up to 90%. We can not talk about the end of the downward medium-term impulse; however, we should expect a corrective growth, the size […]
