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. The bearish channel’s upper limit managed to push price towards 1.1290 then 1.1235 before the EUR/USD pair could come again to meet the channel’s upper limit around 1.1420. Shortly after, the recent bearish movement was demonstrated towards 1.1175 (channel’s lower limit) where significant […]
We continue to look for a break above minor resistance at 145.77 and more importantly a break above resistance at 146.00 that confirms more upside pressure towards 148.50 on the way towards 151.50. To shift the bias towards the downside a break below 144.90 is needed. Such a break will call for a decline to […]
EUR/JPY is finally breaking out of the narrow trading-rang and as we suspected, it breaks to the downside. A clear break below support at 124.94 will confirm a continuation lower to 123.65 and ultimately we will be looking for a decline to 120.95. Only an unexpected break back above 125.45 will shift the bias towards […]
The European Union and United States are among the closest allies in the world. Since the end of the second world war, the two sides of the Atlantic have remained being close. They are all members of the G10, G20, NATO, and OECD among other organizations. This stability has helped the business between the two […]
JPMorgan stock price has been moving between the 50- and 200-day simple moving averages (SMAs) over the last ten trading days and around the 50.0% Fibonacci retracement level of the downleg from 119.18 to 91.07, near 105.13. From the technical point of view, the stochastic oscillator is heading down after it found resistance in the […]
The currency pair Euro / Dollar for the last trading day showed an extremely low volatility of 29 points, as a result with almost one point remaining. From the point of view of technical analysis, we see that the correctional phase from the level of 1.1180 led us to the value of 1.1284, where the […]
The euro is gradually strengthening its position ahead of an important meeting of the European Central Bank, at which the interest rate is expected to remain unchanged. At today’s meeting, the leadership of the European Central Bank will discuss issues relating to the future prospects of credit policy, but it is unlikely that any changes […]
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: -33.3940 The GBP/USD currency pair maintains a downward trend, although it regularly makes attempts to overcome the moving average. For the British pound, today is no less important […]
4-hour timeframe Technical details: The upper linear regression channel: direction – down. The lower linear regression channel: direction – down. Moving average (20; smoothed) – up. CCI: 70.0527 On Wednesday, April 10, the EUR/USD currency pair began a round of downward correction but much more important is how the day will end for the euro. […]
Cotton is an important plant used in the manufacture numerous products, but primarily used in the production of fabrics. The crop is planted in a number of countries, with China, India, and United States being the top three producing countries. They produced 6.5 million tons, 6.4 million, and 3.5 million tons respectively every year. The […]
Gold is one of the most controversial metals in the world. On the one hand, there are gold-bugs, like Stanley Druckenmiller who believes strongly on the yellow metal. On the other hand, there are gold bears like Warren Buffet, who have decried the metal as a scam. Warren is bearish on the metal because it […]
Chinese inflation and trade data for March will hit the markets early on Thursday and Friday respectively. Expectations are for a rebound in all these figures, something that could allay some concerns around a further slowdown in the world’s second-largest economy, and thereby benefit the China-sensitive Australian dollar. After a marked slowdown in recent quarters, […]
CADJPY has been finding strong support on the 40-day simple moving average (SMA) since the beginning of this month, creating a narrow sideways move. Regarding to the momentum indicators, the RSI is flattening near the neutral threshold of 50 and the MACD is hovering above trigger and zero lines. Also, the price action holds above the mid-level of the […]
4h As seen on the 4-hour chart, the EUR/USD pair completed growth to the retracement level of 61.8% (1.1281) and rebound from it with a turn in favor of the American currency. As a result, on April 10, the process of falling in the direction of the retracement level of 76.4% (1.1241) began. None of […]
4h As seen on the 4-hour chart, the GBP/USD pair rebounded from the retracement level of 76.4% (1.3094) and a reversal in favor of the US dollar. As a result, the pair began the process of falling in the direction of the retracement level of 61.8% (1.2969). Fixing the pair’s rate above the Fibo level […]
Today, the focus of investors’ attention is the regular meeting of the European Central Bank (ECB). The results of which will enable the regulator to announce the monetary policy decision and report on future plans. Despite the unexpected changes in rate, the press conference of the ECB President Mario Draghi promises to be quite interesting. […]
Bitcoin has managed to go above $5,250 after correction at the edge. The price has recently retested the resistance and it is about to move higher. The price was held by the strong support area of Kumo Cloud earlier while it was correcting below $5,250. Besides, the strong levels like 20 EMA, Tenkan and Kijun […]
On Tuesday, the US dollar received some support against major currencies and as a traditional safe-haven currency, the yen rose. The catalyst of such dynamics was the revival of fears that the growth of the world economy will continue to slow down. The International Monetary Fund published its forecast on Tuesday on the dynamics of […]
For the last trading day, the currency pair pound / dollar showed a low volatility of 91 points, with the result of literally trampling in one place. From the point of view of technical analysis, we see that the investor alertness is directly reflected in the trading chart, where the quotation continues to fluctuate within […]
The market froze in anticipation of both the results of today’s summit of the European Union and the meeting of the Board of the European Central Bank, as well as data on inflation in the United States. Although the pound left a little from side to side, after the House of Commons passed the law […]
Wave counting analysis: On April 9, the GBP / USD pair lost about 10 bp. and remains within the narrowing triangle. I still expect the pair to go beyond this triangle to determine the direction of movement for the near future. Today, the tool will have enough opportunities to fulfill this option, since the GDP […]
Wave counting analysis: On Tuesday, April 9, the trading ended for the pair EUR / USD with an increase of several base points.Thus, the wave pattern for the past day has not changed and still involves the construction of an upward wave c. However, a meeting of the ECB and the announcement of its results […]
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The NFIB index of business optimism in small business continues to remain at high levels not seen since the pre-crisis times of the junior Bush presidency. For a long time, respondents noted the dominance of state regulation and bureaucracy under Obama but Trump’s reforms have a noticeable positive effect in reducing taxes and government participation […]
USD/CAD recently bounced off the 1.3300 event area from where the price is expected to climb higher. Despite some downbeat reports from the US, USD has been able to regain momentum. On the other hand, CAD has given in to USD pressure. The US released tepid economic data earlier this week such US factory orders […]
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China’s 50 stock index experienced fresh buying interest after beating resistance around the 13,100 level, with the price spiking to a new one-year high of 13,917 early on Wednesday. While the RSI and the stochastics warn of an overbought market and the MACD suggests a softer trading in the short term as the indicator seems to be losing steam […]
EURCHF continues to rise above the strong support level of the 20-month low of 1.1160, surpassing the 20-day simple moving average (SMA). According to the RSI, positive momentum could push for further gains in the short-term as the indicator picks up steam above 50. The stochastic is advancing in the overbought territory; negative corrections cannot […]
To open long positions on GBP/USD you need: Two days left before the UK leaves the EU without an agreement, but traders are in no hurry to sell the British pound, as they believe in a new postponement of the release date. Buyers currently need to return to a resistance of 1.3079, which could lead […]
