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US nonfarm payrolls report dominates the agenda today ECB pushes back rate hike timing, announces new loans; euro crumbles Stocks continue to retreat, yen advances as China’s trade data disappoint Nonfarm payrolls in the limelight The spotlight today will be on the US employment report for February. Forecasts are quite optimistic across the board. Nonfarm payrolls […]
Technical market overview: The BTC/USD pair has been trading quietly inside of the horizontal consolidation between the levels of $3,812 – $3,894 for some time, but now is breaking out of this area towards the 50% Fibonacci retracement at the level of $3,986. If the level of 50% Fibo is violated, then the next one […]
Technical market overview: The EUR/USD pair has broken through all of the technical support at the levels of 1.1275, 1.1258, 1.1248, 1.1234, and 1.1214 (all of them will now be considered as technical resistances) and made a new low at the level of 1.1176. The main formation driving the move down was Three Soldiers. Currently, […]
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The failure to break back above minor resistance at 147.77 was disappointing for our bullish outlook. This does not mean, that our bullish view has been invalidated, but a less bullish alternate count, seems to be in the works. Under this count, GBP/JPY will need to stay above support at 144.84 for a break above […]
USDCAD repeated last week’s impressive performance and is set to close strongly green for the second consecutive week near two-month highs. The pair has also crawled above the Ichimoku indicators and its moving averages, giving positive trend signals, while according to the MACD oscillator bullish momentum is likely to continue in the short-term as the […]
EURUSD created a strong downfall rally on Thursday, sending the price towards a fresh 21-month low beneath the 1.1200 handle, around 1.1175. The pair penetrated the medium-term sideways channel to the downside, completing a new descending channel in the short-term. The pair has not seen a positive day since February 26. Technically, the RSI indicator is turning slightly to […]
A very dovish ECB meeting drove the EUR lower yesterday. The clear break below 125.98 invalidated the bullish count and we have been back to the drawing-board to look at the alternate scenarios. Support at 124.17 is the pivot-point. As long as the price stays above 124.17 we could see renewed strength for a push […]
Technical outlook: A daily chart view for EUR/USD has been presented here to have a longer-term view and a potential trade direction as well. The drop from 1.2555 through 1.1200 levels has clearly unfolded as an impulse. The sideways/consolidation going through since last 3 months since November 2018, has gotten quite a few traders confused […]
CAD/CHF is approaching our first resistance at 0.7544 (horizontal pullback resistance, 50% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.7502 (50% Fibonacci retracement). Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries […]
Morning Report: 07.00 London This morning, markets are in full risk-off mode, with traders flocking to the perceived safety of the Japanese yen. This comes after an unexpectedly dovish ECB meeting which pointed to slow growth and rates holding until 2020. The USD/JPY has hit reverse gear this morning, falling to 111.00 from 112.00 just […]
https://pepperstone.com/en/forex-news/market-review -JPY firms vs USD -ZAR weakens vs the dollar -Dollar index gives ground on the session -The ECB makes a double dovish climb down -Chinese exports shrink the most since 2016 -Feb Nonfarm payrolls forecast at 180k -Back to the Brexit drawing board -Are the DJ transport stocks telling us something about the economy? […]
4-hour timeframe The amplitude of the last 5 days (high-low): 66p – 114p – 88p – 101p – 57p. Average amplitude for the last 5 days: 85p (97p). On Thursday, March 7, the British pound sterling is also trying to resume a downward movement, but there are no such strong drivers like the euro currency. […]
4-hour timeframe The amplitude of the last 5 days (high-low): 61p – 56p – 73p – 50p – 49p. Average amplitude for the last 5 days: 58p (56p). On Thursday, March 7, the EUR/USD currency pair resumed an increased downward movement following the revelation of Mario Draghi’s first statements at the press conference. However, first […]
The European Central Bank (ECB) has postponed the interest rate hike for an indefinite period, which means that the slowdown in economic growth in the eurozone has surpassed the calculations of experts. According to the ECB, the interest rate will remain unchanged until the end of 2019, the previous forecast assumed it would maintain the […]
The ECB noted a slowdown in the eurozone. The growth forecast for 2019 has been reduced to +1.1%, immediately by 0.6%. ECB lowers inflation forecast. The ECB left rates unchanged (base 0%, deposit for banks -0.4%). The ECB announced that in September it will launch a new program to inject liquidity into the markets and […]
Bitcoin has been struggling above $3,800 after the impulsive breakout which is expected to retrace a bit lower before climbing higher above $4,000 in the coming days. The price is being held by the dynamic levels like 20 EMA, Tenkan and Kijun line as support while Kumo Cloud area is widening as strong barrier for […]
EURCAD is going downhill in the 4-hour chart, retracing all the gains it collected on Wednesday after piercing the upper Bollinger band. The MACD has slipped below its red signal line and the RSI dipped below its 50 neutral mark, both endorsing the negative mood in the market. The golden cross between the 50- and […]
On November 13, the EUR/USD pair demonstrated recent bullish recovery around 1.1220-1.1250 where the current bullish movement above the depicted short-term bullish channel (In BLUE) was initiated. Bullish fixation above 1.1430 was needed to enhance further bullish movement towards 1.1520. However, the market has been demonstrating obvious bearish rejection around 1.1430 few times so far. […]
USDCHF has come under renewed buying interest over the last four days and today is still increasing its positive momentum. Technically, the red Tenkan-sen line is pointing upwards, indicating a bullish move, while the RSI is aggressively moving towards the overbought zone. However, the MACD oscillator posted a crossover to the upside with its trigger line in the short term. Immediate […]
Today, the USD / CAD currency pair demonstrates a price pullback after a fairly powerful price spurt. In the first week of March, a Canadian fell by more than 300 points, reaching the middle of the 34th figure. Almost all the fundamental factors are playing against the Loonie – the Canadian economy is declining, inflation […]
While the markets are carefully sifting through and interpreting the results of the meeting of the ECB, which has postponed the term of the rate increase, America strongly criticizes its president for unfulfilled election promises. The economy did not manage to accelerate to 3%, even under the influence of a large-scale fiscal stimulus, the indicator […]
According to the European statistical agency, Eurostat, the economic growth in 19 eurozone countries in the fourth quarter of 2018 was 0.2% in quarterly terms and 1.1% in annualized terms. Quarterly figures coincided with analysts’ expectations but the annual figure was lower than the forecast of 1.2%. In the fourth quarter, the overall GDP growth […]
According to analysts of Bank of America, the situation on the oil market looks much more stable now than it might seem at first glance. “The continuing decline in the extraction of raw materials in Venezuela and Iran, combined with the reduction in production from OPEC +, allows us to expect attempts to break through […]
To open long positions on the GBP / USD pair, you need: Buyers have not managed to return to the resistance level of 1.3194, which led to a decrease in the pound in the morning. At the moment, you can rely on the formation of a false breakdown in the area of support at 1.3122. […]
To open long positions on EUR / USD pair, you need: Given the low volatility of the market, trade has moved to a narrow side of the channel at 1.1290-1.1323. Today, it is best to return to the euro after the press conference of the President of the European Central Bank, Mario Draghi, which may […]
German 30 stock index (DAX 30) stretched above the June downtrend line but was unable to pierce the 11,690 neckline of the inverted head (10,276) and shoulders (11,000) pattern this week, with the price correcting lower instead. The technical indicators suggest a neutral bias for the short term at the moment as the RSI is […]
Nothing specially changed since our previous analysis. We still expect lower price on BTC. According to the H1 time – frame, we found that there is a potential end of the complex upward correction WXY at the price of $3.870. Also, there is multi resistance around $3.870 (yellow rectangle), which is a sign that buying […]
Overview: The EUR/USD pair below around the weekly pivot point (1.1393). It continued to move downwards from the level of 1.1393 to the bottom around 1.1335. Today, the first resistance level is seen at 1.1393 followed by 1.1426, while daily support 1 is seen at 1.1335. Furthermore, the moving average (100) starts signaling a downward […]
