Overview: The AUD/USD pair is set above strong support at the level of 0.7046 which coincides with the 23.6% Fibonacci retracement level and 0.7168. This support has been rejected four times confirming the uptrend. Hence, the major support is seen at the level of 0.7046, because the trend is still showing strength above it. Accordingly, […]
4-hour timeframe Technical details: The senior linear regression channel: direction – up. The younger linear regression channel: direction – up. Moving average (20; smoothed) – down. CCI: -136.7444 The GBP / USD currency pair resumed the downward movement, failing to overcome the moving average line. Thus, this time, the movement of the pair was logical […]
A vote in the British parliament could determine whether the Brexit deadline will be extended, while a Bank of Japan policy meeting will be another highlight for traders in the coming week. Economic indicators will also be watched closely amid renewed growth jitters as industrial output figures for January are reported in China, the Eurozone, […]
4-hour timeframe Technical details: The senior linear regression channel: direction – down. The junior linear regression channel: direction – sideways. Moving average (20; smoothed) – down. CCI: -181.2993 The EUR / USD currency pair resumed its downward movement on Friday, March 8, after the announcement of the ECB meeting and press conference. The main outcomes […]
The euro fell significantly in tandem with the US dollar and lost a number of positions against other world currencies. Despite the fact that the growth rate of the eurozone economy accelerated at the end of 2018, the European Central Bank revised its attitude towards future monetary policy, which led to the weakening of the […]
4h The EUR / USD pair on the 4-hour chart resumed the process of falling yesterday and completed the close under the correction level of 100.0% – 1.1218 on the new Fibo level grid. Thus, on March 8, the process of falling quotations can be continued in the direction of the next Fibo level of […]
4h The GBP / USD pair on a 4-hour chart is a reversal in favor of the American currency and consolidation below the correction level of 76.4% – 1.3094. Thus, the fall process can be continued on March 8 in the direction of the next Fibo level of 61.8% – 1.2969. There are no emerging […]
On Friday, the price will move up before the news release. The first top target of 1.3135 is the rolling level of 23.6% (yellow dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis – up; – trend analysis – […]
China 50 stock index plunged by more than 6% in the latest two trading sessions after topping at a one-year high of 13,294 on March 4, recording its biggest daily losses since late October. The RSI has left its overbought zone above 70 and returned to 50, while the MACD slipped below its red signal line, […]
Silver came close to breaking the 14.90 support level on Thursday, finishing the day at a two-and-a-half-month low of 14.96. According to the RSI, the market could shift higher as it is sloping slightly upwards in the negate zone, though the MACD oscillator is losing its strong downside momentum in the bearish territory. Also, the 20- and 40-simple moving […]
Trend analysis (Fig. 1). On Friday, the price, before the news, may make the upper movement. The first upper target 1.1235 is a pullback level of 23.6% (blue dashed line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – down; – candlestick analysis – up; […]
To open long positions on GBP/USD you need: The breakthrough of the next lower limit of the short-term side channel retained the downward trend in the British pound. Currently, buyers have the task of returning and consolidating above the resistance of 1.3117, which will lead to a larger upward correction to the area of resistance […]
Wave counting analysis: On March 7, the GBP / USD pair dropped by 90 bp, thus, there are all the necessary grounds for concluding on the continuation of building a new downtrend trend, or rather its first wave. The news background for the pair remains negative, as there are no positive reports on Brexit issues […]
The euro declined sharply yesterday after the European Central Bank (ECB) released the interest rates decision for March. As expected, the bank left interest rates unchanged. The deposit facility rate was left at minus 0.4% while the marginal lending facility was left unchanged at 0.25%. The central bank also lowered the guidance for growth for […]
The focus among traders today will be in the United States, which will release the jobs numbers for February. This is a monthly number usually released by the Labor Department to provide investors and policymakers with a snapshot about the health of the economy. It is usually one of the most-watched number in Wall Street […]
This was a tough week for the markets, with global stocks declining for the five consecutive days. The reason for the decline was that traders were looking for the next big thing that will happen in the market. This is after it emerged that China and the United States were in the final stages of […]
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Before the publication of the employment report, contradictory data were received which aincreased the uncertainty in the markets and can lead to a sharp increase in volatility throughout the day. The Fed’s quarterly report showed that the threat of a slowdown in wage growth is still low. In 2018, the labor productivity in 4 square […]
The results of the March meeting of the European Central Bank were fatal for the single currency: first, the regulator finally abandoned its intentions to increase the rate this year, and secondly, launched a new round of targeted long-term loans for banks, reaffirming the ECB’s commitment to soft monetary policy. The rhetoric of Mario Draghi […]
Wave counting analysis: On Thursday, March 7, trading ended for EUR / USD with a decline of 115 bp. Such was the market reaction to the “pigeon” rhetoric of Mario Draghi and the company. The results of the ECB meeting were disappointing. Forecasts for GDP and inflation have been lowered. The launch of the LTRO […]
To open long positions on EURUSD you need: The ECB’s revision regarding the timing of raising interest rates pulled down the euro. Now buyers are required to confirm divergence in the support area of 1.1170, and otherwise, it is best to rely on long positions from the lows of 1.1149 and 1.1122. The main task […]
GBPJPY is edging lower towards a one-and-a-half-week low of 145.11, exiting from the Ichimoku cloud in the 4-hour chart, after it unlocked a fresh three-and-a-half-month high on March 1. The bearish momentum in the MACD points to further decline in the short-term. Yet with the RSI standing near its 30 oversold level, it seems that the […]
On Thursday, the British pound lost 87 points, following the euro’s decline after the ECB’s pessimistic meeting. The decline was stopped by the daily timeframe balance line, but the price still overcame the signal level 1.3108. The signal line of the Marlin oscillator on the daily has moved to the zone of decline, now we […]
Dear colleagues. For the currency pair Euro / Dollar, the subsequent targets for the downward movement were considered from the larger structure of the initial conditions on February 28 (see the image). For the currency pair Pound / Dollar, we expect the continuation of the movement to the bottom after the breakdown of 1.3068 and […]
The Australian dollar did not respond much to the European currencies’ decline from the previous day, falling by only 15 points. Perhaps, the situation is in the formed extended double convergence with the Marlin oscillator, observed on the four-hour chart. Thus, the market has left itself a technical opportunity to correct upwards after working on […]
Risk Warning: 69.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]
Risk Warning: 69.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]
EUR/USD has broken support and reached our 1.12 target as expected. In our previous posts we noted that we remain bearish as the most probable scenario would be the move towards 1.12 once 1.13 failed to hold. Red line – resistance Green line – support EUR/USD has broken through 1.1280 support yesterday and has reached […]
Gold price made a slight new lower low yesterday and bounced $10. Gold price as said in previous posts is about to end the bearish move from $1,346 and make a bounce as a back test towards $1,300. Red lines – bullish divergence Gold price showed some bullish divergence signs yesterday as the RSI was […]
Technical market overview: Not much changed at the ETH/USD market as the pair has been trading inside of the consolidation zone located between the levels of 135.00 – 140.00 and it does not look like the bulls are strong enough to move any higher than this. Moreover, from the Elliott Wave Principle point of view, […]
