EURUSD challenged the short-term resistance at 1.1250, got rejected and pulled back to form a higher low thus far. Support at 1.12 is still respected and combined with the bullish divergence signs by the RSI we continue to expect a move higher as the most probable scenario. Red lines – bearish channel Green rectangle – […]
Gold price made a new lower low yesterday but it was not confirmed by the RSI and the major support area of $1,290-80 was still respected. Gold has now many chances of making another move above $1,300. Green rectangle – major support area Blue rectangle – short-term resistance area Blue lines – bullish divergence Gold […]
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Morning Report: 07.00 London This morning, the dollar index is on the back foot ahead of today’s Non Farm Payroll as traders book profits on yesterday’s gains. The AUD/USD is leading the charge and is currently sitting on its highest levels for the week, above the 0.71200 level. The EUR/USD failed at the 1.1250 level […]
USDCAD, has gained some momentum this week and rebounded around the 1.3295 support for the third time since the start of March and is trying set to exit the Ichimoku cloud. Moreover, the price found strong obstacle around the 20-day simple moving average (SMA), while it is holding above the 23.6% Fibonacci retracement level of […]
Oil (CL) The price touched the MACD line on the weekly chart. This indicator line serves as independent technical support or resistance. Also, the price met with the resistance of the red indicator line of balance. Finding the price above this line means a shift in the balance to a growth trend below it into […]
Technical outlook: The recent swings has been presented on the hourly chart for the EUR/USD pair. The low formed at the 1.1181/82 levels on April 02, 2019 should act as support for a few weeks at least. Initial resistance at the 1.1248 levels has been already taken out, which could be the potential Wave A […]
https://pepperstone.com/en/forex-news/market-review -GBP and AUD eke out gains vs USD -CNY is better on the week vs USD -Dollar index is largely unchanged overnight -Close but not there yet, Trump on trade talks -Japanese consumers are spending less it seems -Aussie construction is still in the doldrums -Any clues in the data for March Nonfarms? The […]
EUR/USD On Thursday, the euro was trading with an amplitude of 20 points, it did not hit the upper limit of a range of 1.1184-1.1255. On the daily chart, no significant changes in the readings of indicators have occurred, the trend remains steadily decreasing. On the four-hour chart, the change affected the signal line of […]
GBP/USD Yesterday, the British pound could not withstand the tension as it fell out of the consolidation zone under its lower limit of 1.3158, lost 82 points and also consolidated below the MACD four-hour scale. The marlin oscillator on H4 also moved to decline territory. On the daily chart, the signal line of the marlin […]
USD/JPY With great work, the yen managed to solve last week’s main technical problem – to overcome the resistance of the balance line of the daily scale (red indicator) in order to be able to increase to a target of 112.84 without fear of a sharp collapse. This morning the price has become open; on […]
When the European market opens, some economic data will be released such as French Trade Balance and German Industrial Production m/m.The US will also publish the economic data such as Consumer Credit m/m, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m, so amid the reports, the EUR/USD pair will move with medium to […]
In Asia, Japan will release the Leading Indicators, Household Spending y/y, and Average Cash Earnings y/y and the US will publish some economic data such as Consumer Credit m/m, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So there is a probability the USD/JPY pair will move with medium to high volatility during […]
In this video, Chris Weston looks at the key event risk for the week ahead, both for politics and economic data and how this may impact markets. Stay informed and understand which events may impact your portfolio. Related Posts:Analysis for EUR/USD pair on April 18th. Dull ending to a… April 18, 2024 The wave analysis […]
BCOUSD is approaching our first resistance at 70.94 (horizontal pullback resistance, 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 68.48 (50% Fibonacci retracement , horizontal pullback support). Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. […]
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 […]
On January 2nd, the market initiated the depicted uptrend line around 1.2380. This uptrend line managed to push price towards 1.3200 before the GBP/USD pair came to meet the uptrend again around 1.2775 on February 14. Another bullish wave was demonstrated towards 1.3350 (Feb. 27) before the bearish pullback brought the pair towards the uptrend […]
4-hour timeframe The amplitude of the last 5 days (high-low): 164p – 159p – 140p – 137p – 75p. Average amplitude over the last 5 days: 135p (143p). The British pound against the background of all the twists and turns with Brexit managed to rise to the upper limit of the Ichimoku cloud, but today […]
4-hour timeframe The amplitude of the last 5 days (high-low): 48p – 37p – 46p – 32p – 55p. Average amplitude over the last 5 days: 44p (41p). The European currency paired with the US dollar on the penultimate trading day of the week once again rushed down. Once again, we observe a serious decline […]
GBP/JPY is testing support at 145.90, which ideally will protect the downside for the next impulsive rally above 147.00 confirming a continuation higher to 148.50 and 151.50. Only an unexpected break below support at 144.92 will shift the bias towards the downside again for a decline closer to 143.79 and possible even closer to 141.00. […]
The euro once again began to gradually lose ground in pair with the US dollar after the release of the report, which showed a weakening of activity in the manufacturing sector of Germany. The minutes of the meeting of the European Central Bank, which were published today in the morning, also made a number of […]
BTC has been trading sideways at the price of $4. 994.The risk for the upside positions are increased. According to the H1 time-frame, we found that there is the fake breakout of the resistance at the price of $5.070. In the background we found climatic action, which is sign of the very emotional buying, which […]
EUR/JPY has been trapped in a trading range since mid-January, where the cross traded near 125.00. We are still looking for a deeper correction closer to 123.65 and ideally down to 120.95 as long as key-resistance at 126.18 is able to cap the upside. Short-term a break below 124.45 would confirm more downside pressure towards […]
GBP/USD has been trading downwards as we expected. The price tested the level of 1.3080. We are still bearish and expecting more downside. According to the H1 time-frame, we found that sellers took control from buyers and that momentum on the downside is strong. The ADX reading above the 30 is clear sign of the […]
Economic data will take a backseat in the coming week as the biggest risk events that are being anticipated are the European Central Bank’s policy meeting and an emergency summit by the European Union to discuss the Brexit crisis. But while UK and EU politics may grab most of the headlines, there will also be […]
Gold has been trading downwards as we expected. The price tested the key short-term support at the $1.281.00. Gold is in decision phase and at the key support. The Gold reached our downward target at $1.281.00 from the previous analysis and it is at decision level. ADX reading is below 20 level and this is […]
The euro against the dollar remains under pressure due to the weakness of the macroeconomic indicators of the eurozone. In addition, quotes are influenced by the overall market sentiment regarding risk and the dynamics of the USD. Traders are now optimistic about the completion of a new round of trade negotiations between Washington and Beijing. […]
The latest events around Brexit made it clear that the potential of forming a Labor government is becoming increasingly high. Early elections, which will lead the opposition to power, may contribute to the fall of the pound to the lowest levels in the last 30 years. In this situation, the ability of the Bank of […]
The yen is weakening as optimism regarding a trade deal between the US and China has raised its appetite for risk around the world, the pound is becoming more expensive after the British parliament approved a law for the transfer of Brexit. Participants in the trade talks in Beijing last week achieved “great success,” and […]
To open long positions on the GBP / USD pair, you need: The pound is gradually falling amid the lack of positive news related to Brexit. At the moment, only the formation of a false breakdown in the region of the lower boundary of the side channel at 1.3122 will be a signal to buy […]
