Trend analysis (Fig. 1). On Thursday, the price may continue to move upwards. The first upper target of 1.1286 is the pullback level of 38.2% (yellow dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis – up; – trend […]
EURUSD has bounced as expected but so far the move higher has been weak and price only managed to reach the first short-term resistance and trend change level. Medium and short-term trend remain bearish. Red line – major resistance trend line Blue lines – bullish divergence Green line – major support trend line EURUSD as […]
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USDJPY bounced back above 111 this week but the 200-day moving average (MA) managed to hold the bulls under control, with the market now set to close with minimal weekly gains. The short-term bias looks positive-to-neutral under the technical perspective as the RSI is losing ground in bullish territory (above 50) and the MACD is […]
GBPJPY is looking bullish in the short-term narrow range, which has been holding since February 19, with upper boundary the 148.60 resistance and lower boundary the 143.70 support level. During yesterday’s trading session, the price successfully surpassed the 20- and 40-simple moving averages (SMAs) in the daily timeframe, improving the ascending move. The stochastics are […]
Gold’s monthly chart is worrying as long as price is below $1,350-60. Gold price has made three lower highs and three rejections in the price area of $1,350-$1,370. Bulls still have hopes for a move higher as price is also making higher lows. Blue line – major resistance trend line Red line – major support […]
Technical market overview: No major breakout occurred since the middle of the March at the GBP/USD market and the global investors are still waiting for the uptrend to continue. Nevertheless, another move down is still on the table as the consolidation zone lower boundary is still the local technical support zone located between the levels […]
Technical market overview: The EUR/USD pair has been trading below technical resistance at the level of 1.1249 for some time now and the bounce looks weak and slow so far. In order to make it more dynamic, the bulls would have to break through the resistance level and go towards the next technical resistance seen […]
Morning Report: 07.00 London This morning, the British pound is holding its ground amid growing hopes for a market friendly soft Brexit. The GBP/JPY is unchanged and holding above 146.50, the GBP/USD is also unchanged and trading below 1.3200, while the EUR/GBP is holding near the lows. The dollar index is stronger after heavy loss […]
Technical market overview: The BTC/USD pair has hit the technical resistance at the level of $5,287 and then quickly reversed towards the level of $5,060 and even broke a little below it. The local low was made at the level of $4,901 and this might be the first wave of the corrective decline in wave […]
Technical market overview: The ETH/USD pair has broken above the technical resistance zone located between the levels of 173.50 – 175.82, made a new swing high at the level of 177.15 and then quickly reversed. The top at the level of 177.15 has been labeled as the wave (3)/(c) and now the market is consolidating […]
AUD / USD pair On Wednesday, the Australian dollar grew by 41 points, it managed to get out of the accumulation zone of 1.7060-0.7100, where it met resistance from the highs of the preceding days. The MACD line of daily scale is also located here but the price failed to gain a foothold. On the […]
https://pepperstone.com/en/forex-news/market-review -Many majors are largely unchanged -USD gains vs MXN and INR but slips vs RUB -German factory orders and Fed speakers on the calendar -UK MPs try to take control of Brexit and vote for an extension -President Trump to meet with China’s vice premier today -What’s happening to US macro data and the […]
EUR/USD Yesterday, the euro increased to the price of 1.1255, but the MACD line on the four-hour chart slowed down its course and it failed to reach the price, leaving the euro with a small maneuver to test this line. In general, we are waiting for the price to move below the lower limit of […]
GBP/USD Over the past day, the British pound has entered the consolidation range of 1.3158-1.3244, within which it will be very difficult to move the price up. On the four-hour chart, the price is above the balance and MACD indicator lines, but yesterday there was an attempt to move below the balance line (red), but […]
Nikkei is approaching our first resistance at 22630.1 (horizontal swing high resistance, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 20855.7 (50% Fibonacci retracement , horizontal swing low support). Stochastic (21,5,3) is also approaching resistance where we might […]
XAUUSD is approaching our first support at 1283.58 (horizontal swing low support, 61.8% Fibonacci extension ) where a strong bounce to our major resistance at 1299.29 (horizontal pullback resistance, 38.2%Fibonacci retracement ) might occur. Stochastic is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. […]
Today, the euro-dollar pair shows a pronounced correctional growth. The correction is due to many reasons, and not all of them are related to the US currency. Good data on the growth of the PMI index in Europe, as well as encouraging news about Brexit prospects inspired EUR/USD bulls, after which the price moved away […]
There are negotiations between Prime Minister May and opposition leader Corbyn right now in Britain, regarding a new attempt to reach an agreement on Brexit. What’s new today? Prime Minister May said yesterday that she was ready to make big concessions to the opposition – up to preserving Britain in a customs union with the […]
The euro stopped a six-day decline and increased due to the fact that market participants believed in it. Improving the mood for risky assets is supported by optimism about the deal between the US and China and strong data for China and the eurozone. The euro is rising, while German bonds are falling, and the […]
Global equities continue to find buyers and the charts in many markets look bullish. In this video, Chris Weston looks at the key influences to change the trend and the trigger points to be tactically bearish. Related Posts:The Fed and global instability: a double blow to American… April 18, 2024 On Wednesday, the US stock […]
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 […]
GBP/JPY has broken back above resistance at 145.50 indicating more upside pressure towards 148.50 and 151.50 as the target. Support is now seen at 145.90 with key support at 144.90 which should be able to protect the downside for the next move higher towards 148.50. Only an unexpected break below support at 144.90 will confuse […]
EUR/JPY has spiked to just above the 125.27 target. A break below support at 124.52 is now needed to confirm that the corrective rally from 123.65 is complete and renewed downside pressure should be expected towards 123.65 and 122.07 and ideally closer to 120.95 before a low should be expected and a turn higher should […]
BTC has been trading upward. The price re-visited the resistance at $5.070 and BTC got rejected. Seems like buyers lost power and that most of buyers exited their positions. According to the H1 time-frame, we found very high reading at 48 on the ADX indicator, which is sign that trend and momentum are still strong. […]
Over the past year, the greenback has been strengthened mainly due to the divergence in the economic growth of the United States and the rest of the world, as well as trade conflicts, and the monetary tightening of the Fed. However, the upward trend in the USD index may be questionable when neither the Fed […]
GBP/USD has been trading upwards. The price tested the level of 1.3194. Anyway, we found that there can be potential trap for buyers and that the bullish movement wasn’t strong enough. According to the H1 time-frame, we found that there is the fake breakout of the resistance at the price of 1.3147, which is sign […]
After a long period of declines, cryptocurrency prices suddenly jumped this week, with the original digital currency – Bitcoin – leading the charge higher. Yet, nobody can pinpoint a concrete fundamental reason for this change in fortune for digital coins, other than a massive buy order being executed. Hence, nothing much seems to have changed […]
Palladium futures have met resistance at the top of the Ichimoku cloud, having bounced off the bottom of the cloud only three sessions ago. Prices plunged to an 8-week low of 1301.04 last week before recovering to around the 23.6% Fibonacci retracement of the August 2018-March 2019 upleg from 812.65 to 1574.14. Looking at the […]
The US dollar shrugged off downbeat retail sales and inflation figures recently as business data surveyed by the ISM institute indicated that production, new orders and employment bounced up in the previous month, helping 16 out of 18 manufacturing industries to pick up growth. The data volatility is now extending to the end of the […]
