Gold price remains in a bearish short-term trend. Gold price broke below important support levels but the move lower has not extended yet towards our $1,250-60 target area. Price has only reached as low as $1,270. Green rectangle – major support area now resistance Red rectangle – target Black line – major resistance trend line […]
Crypto Industry News: The founder and CEO of Tron, Justin Sun, claimed that in his opinion the Tron ecosystem would “officially collaborate” with Ethereum later this year. Sun spoke during the interview on the podcast The Crypto Chick. More specifically, Sun said that, according to him, “even in the course of this year, we will […]
The Japanese financial regulator, the Financial Services Agency (FSA), no longer wants to describe Bitcoin as a virtual currency. During the plenary session of the 41st General Assembly of the Financial Council and the 29th Meeting of the Financial Division, Professor Iwashita Goto from the Public Policy Graduate School of Kyoto University asked the members […]
Technical Market Overview: We finally have some movement on the GBP/USD pair. The market has broken below the technical support at the level of 1.3012 and 1.2996. Currently, the price has hit technical support at the level of 1.2977 and bounced a little. It looks like the down move has not been finished yet despite […]
Technical Market Overview: The EUR/USD pair has made a Double Top price formation at the level of 1.1323 that was confirmed by two Bearish Engulfing candlestick formations as well. Since then the market has broken the technical support at the levels of 1.1285, 1.1273 and 1.1249. Moreover, the price has fallen out of the corrective […]
On January 2nd, the market initiated the depicted uptrend line around 1.2380. This uptrend managed to initiate two successive bullish waves towards 1.3200 (Jan. 25) then 1.3350 (Feb. 27) before the bearish pullback brought the GBPUSD pair towards the uptrend on March 8th. A weekly bearish gap pushed the pair below the uptrend line (almost […]
On January 10th, the market initiated the depicted bearish channel around 1.1570. Since then, the EURUSD pair has been moving within the depicted channel with slight bearish tendency. On March 7th, recent bearish movement was demonstrated towards 1.1175 (channel’s lower limit) where significant bullish recovery was demonstrated. Bullish persistence above 1.1270 enhanced further bullish advancement […]
Cryptocurrency exchange Coinbase is expanding crypt-to-crypto conversions and trading services to 11 more countries. The San Francisco-based firm announced the news in a blog post on Wednesday, saying that customers in Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines and New Zealand can now access crypt-to-crypto exchanging services. Even there […]
EUR/USD has been trading downwards. The price tested the level of 1.1234. Potential oversold condition on the EUR/USD. According to the H4 time-frame, we found that there is the bullish divergence on the 3/10 oscillator, which is sign that selling looks risky. We also found that EUR/USD did rejection from the very strong support (blue […]
Gold has been trading downwards. The price tested the level of $1.270.77. Anyway, we expect potential bullish correction and upward momentum. According to the daily time-frame, we found that there is the bullish divergence on the 3/10 oscillator, which is sign that selling looks risky. We also found that Gold didn’t correct upward for 5 […]
Overview: The GBP/USD pair continues to move upwards from the level of 1.3087. Last week, the pair rose from the level of 1.3087 to a top around 1.3201 but it rebounded to set around the spot of 1.3140. Today, the first resistance level is seen at 1.3206 followed by 1.3268 , while daily support 1 […]
Overview: The EUR/USD pair continues to move downwards from the level of 1.1280. Yesterday, the pair dropped from the level of 1.1280 to the bottom around 1.1225. Today, the first resistance level is seen at 1.1280 followed by 1.1310, while daily support 1 is seen at 1.1179. According to the previous events, the EUR/USD pair […]
Copper futures with delivery on May 2019 are rising, paring previous sessions’ losses below the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. However, the technical indicators remain in bearish territory, with the RSI sloping slightly up and the stochastic turning higher in the oversold zone. On the other hand, the MACD oscillator […]
EUR/USD The trend rate of intraday fluctuations of the euro major is set by the bearish wave of March 20. The nature of the movements is corrective. The structure lacks the final downward part. The price is near the lower boundary of the potential reversal zone. Forecast: Preparations for changing the intersessional trend of the […]
Dear colleagues. For the Euro/Dollar currency pair, we expect clearance of the expressed initial conditions for the downward cycle and the level of 1.1229 is the key resistance for the bottom. For the Pound/Dollar currency pair, the subsequent targets for the downward movement were determined from the local structure on April 12. For the Dollar/Franc […]
According to analysts, the rapid rise in the cost of black gold can trigger a collapse in the global market. Experts consider such a development of events to be natural in connection with the over-fulfillment of the obligations of the participants in the OPEC + transaction. They warn market participants of the negative scenario. Since […]
Wave counting analysis: On April 17, the GBP/USD pair lost only about 5 bp. Thus, the market activity on the instrument remains low, and trading continues to take place inside the narrowing triangle. The current wave counting does not allow making any new conclusions, except those that have already been made. It is still assumed […]
The automobile industry is going through radical changes. As the world’s climate continues to change, more people and government are moving to electric vehicles. In fact, a number of countries in Europe and Asia have announced that they will ban combustion-engine vehicles in the next few years. As such, new companies like Tesla are coming […]
Australia and New Zealand are so close to one another, which makes them close trading partners. The countries belong to the ASEAN-Australia-New Zealand Free Trade Agreement. The other members of this block are Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. According to the Australian Trade and Investment Commission, Australia […]
Copper remains one of the most utilized metals in the world. Because of its ductility and excellent conduction capabilities, the metal is used in all sort of electric work. As the world’s population increases, the use of the metal will continue to increase. In recent weeks, the price of copper has remained close to a […]
GBPCAD touched the 38.2% Fibonacci retracement level of the upleg from 1.6590 to 1.7795 around 1.7335 once again, failing to decline further. Currently, the price is developing within the Ichimoku cloud, while the 20- and 40-simple moving averages (SMAs) posted a bearish crossover in the preceding sessions. The RSI indicator is flattening, mirroring the market’s […]
Wave counting analysis: On Wednesday, April 17, trading ended for EUR / USD by 15 bp increase. However, today, after the third unsuccessful attempt to break the level of 50.0% Fibonacci, the pair fell down. However, so far this decrease in no way violates the current wave pattern, which still involves the construction of a […]
4-hour timeframe Technical details: The upper linear regression channel: direction – up. The lower linear regression channel: direction – down. Moving average (20; smoothed) – down. CCI: -79.2988 The GBP/USD currency pair dropped yesterday to Murray’s level of “3/8” – 1.3031, but could not overcome it and can now start a round of upward correction. […]
4-hour timeframe Technical details: The upper linear regression channel: direction – down. The lower linear regression channel: direction – sideways. Moving average (20; smoothed) – sideways. CCI: 17.7343 The currency pair EUR/USD on Thursday, April 18, once again fulfilled Murray’s level of “8/8” – 1.1322, failed to overcome it and lowered to the moving average […]
4h As seen on the 4-hour chart, the EUR/USD pair performed first with a rebound from retracement level of 61.8% (1.1281), and then from the Fibo level of 50.0% (1.1313). As a result, on April 18, a new decline began in the direction of the retracement level of 61.8%. New emerging divergences today are not […]
4h As seen on the 4-hour chart, the GBP/USD pair completed closing below the Fibo level of 76.4% (1.3098) and continues the process of falling towards retracement level of 61.8% (1.2969). There is no visible indicator of divergence today. Thus, only quoting quotes from the Fibo level of 61.8% can be regarded as a reversal […]
Germany 30 cash index (GER30) gained considerable traction after breaking the neckline (11,690) of the inverted head and shoulders pattern earlier this month, topping the rally at a six-month high of 12,194 on Wednesday. While, the RSI warns of an overbought market that could pressure the price lower in the short term, the uptrend off the 10,276 bottom may stay in place […]
Euro buyers failed to cope yesterday with a large level around 1.1325, which led to a downward correction. However, the fundamental data on the American economy and the statements of the Fed representatives did not greatly help the dollar to continue its strengthening against risky assets. Yesterday, there was news that the United States and […]
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USDCHF is edging higher after the rebound on the 0.9890 support and the 23.6% Fibonacci retracement level of the upleg from 0.9185 to 1.0130, around 0.9900 and is moving towards the strong resistance obstacle of the ascending triangle, which has been holding since September 2018. The 20- and 40-day simple moving averages (SMAs) are ready […]
