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 […]
USD/JPY has been trading upwards as we expected. The price tested the level of 111.58. We are still expecting more upside on USD/JPY. According to the H4 time-frame, USD/JPY is still in the robust short-term upward trend and our expectation is that price will head towards the resistance levels at 111.70 and 111.90. ADX reading […]
The data released in the first half of the day on activity in the services sector of the eurozone countries supported the European currency, which managed to strengthen its position against the US dollar, however, as the day before, the growth was temporary. According to the report of the company Markit, the PMI Purchasing Managers […]
The dynamics of oil is optimistic and prices are convincingly going up. The American WTI is trading above $60 a barrel and Brent is close to $70 a barrel. Hedge funds and other financial managers have increased their long positions in black gold. Net long for six major contracts was increased by 37 million barrels […]
To open long positions on GBP/USD you need: Traders bought a pound against the background of optimism associated with Brexit, but a weak report on the service sector in the UK returned bears to the market and limited growth. At the moment, only the formation of a false breakdown in the intermediate support area of […]
Realize that most other markets influencing the US Equity market are at Key levels. Agricultural INDEX is at an all-time low below the one of 2002. OIL is in a triangle 77-44 testing PIVOT 64. Dr. Copper is rising above the cloud, testing the top of the triangle near 300. This shall impact the Relative […]
March’s employment report for Canada is likely to attract investor’s attention on Friday at 1230 GMT as the Canadian dollar has been gaining some ground over the past week on the back of rising oil prices. Stronger figures in employment may provide some more relief to the domestic currency, sending dollar/loonie even lower. The unemployment rate is forecasted to stay […]
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 before the bearish pullback brought the pair towards the uptrend again on […]
After a stormy start, gold fans were forced to hold their horses. The US dollar was not as weak as investors expected it after the change in the Fed’s outlook, and the US stock market was marked by the best quarterly result since 2009 and the best beginning of the year since 1998. The increase […]
The euro is trading near its 2019 lows as not even a more dovish Fed has been able to offset any of the gloomy Eurozone outlook from weighing on the single currency. The continent’s deepening economic slowdown finally has the European Central Bank worried, deciding to take action at its March policy meeting to further […]
Overview: The USD/CHF pair continues moving in a bullish trend from the support levels of 0.9895 and 0.9948. Currently, the price is in an upward channel. This is confirmed by the RSI indicator signaling that the pair is still in a bullish trend. As the price is still above the moving average (100), immediate support […]
Overview: The NZD/USD pair is showing signs of strength following a breakout of the highest level of 0.6765. On the H1 chart. the level of 0.6765 coincides with 23.6% of Fibonacci, which is expected to act as minor support today. Since the trend is above the 23.6% Fibonacci level, the market is still in an […]
4-hour timeframe Technical details: The upper linear regression channel: direction – up. The lower linear regression channel: direction – down. Moving average (20; smoothed) – sideways. CCI: 78.4502 From a fundamental point of view, the GBP/USD currency pair failed to continue the logical downward movement and returned to the area above the moving average line. […]
We would like to inform you that due to Qingming Festival, Catholic and Orthodox Easter and Anzac Day, all of which take place in April, the trading hours of various instruments will be affected between 5 April and 1st May 2019. Please view the tables below to see which instruments will be affected and how: […]
4-hour timeframe Technical details: The upper linear regression channel: direction – down. The lower linear regression channel: direction – down. Moving average (20; smoothed) – down. CCI: -8.6153 On Wednesday, April 3, the currency pair EUR/USD began to be adjusted. Moreover, the correction began at the wrong time, which would be more logical. Yesterday, reports […]
4h As seen on the 4-hour chart, the EUR/USD pair performed a reversal in favor of the European currency after the formation of the bullish divergence at the MACD indicator and began to grow in the direction of the retracement level of 76.4% (1.1241). The rebound of the pair from this level will allow traders […]
