EUR/USD has been trading downwards. The price tested the level of 1.2918, but the selling climax appeared. According to the H1 time frame, we found a selling climax (unusually wide range bar) in the background, which is a sign that there were panic sellers and a lot of emotional sellers. The market doesn’t like panic […]
ETHUSD has been moving below the 23.6% Fibonacci retracement level of the upleg from 99.00 to 148.15, around 136.40 after hitting the 138.65 resistance level. In addition, the price holds above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, while the RSI indicator stands flat in the positive area and the MACD […]
To open long positions on GBP / USD you need: Yesterday’s data on the services sector were ignored by the market, which led to a further decline in the pound. At the moment, a side channel is being formed, and long positions are best viewed under the condition of a false breakdown in the support […]
The ambiguous economic data from the United States released on Tuesday put pressure on local stock indexes. It seems that we have repeatedly pointed out earlier about the realization by investors that the American economy is showing signals of growth inhibition with the beginning is clearly manifested. The presented values of the index of business […]
What happened yesterday did not lend itself a logical explanation at all, since the dollar strengthened despite the macroeconomic data published. Of course, everything seems fine at first glance because the American statistics came out much better than expected since sales of new homes did not fall by 8.7% instead of increasing by 3.7%. Also, […]
The single currency meets the March meeting of the ECB in a depressed state. After several unsuccessful attempts of assault on the 14th figure, the eur / usd bulls eased their grip. They could not keep the price at conquered heights. The pair slowly but tendentiously moved towards the main support level of 1.1260. The […]
Large TF: The general direction of the price movement of the pair from the spring of the past is set by a bearish wave. In its framework, in recent months, a correctional wave has been formed, which indicates a general incompleteness of the structure. Small TF: Since December 12, the wave model has been developing […]
4h The EUR / USD pair on the 4-hour chart fixed below the correctional level of 23.6% – 1.1358 and continues the process of falling in the direction of the level of 1.1269. There are no emerging divergences today. The rebound of the pair from the level of 1.1269 will work in favor of the […]
4h The GBP / USD pair on the 4-hour chart performed a fall to the Fibo level of 76.4% – 1.3094 and rebound from it with a reversal in favor of the British currency. As a result, on March 6, the growth of quotations can be continued in the direction of a correction level of […]
The euro/dollar currency pair for the last trading day showed low volatility of 51 points, but this is enough to continue forming a downward move. From the point of view of technical analysis, we see that the quotation is kept on the side of the bears, where it reached the lower limit of the 1.1300 […]
The dollar looks confident with pending publication of a key February employment report on Friday. Despite the fact that the February indexes from Markit turned out to be somewhat worse than expected, its growth compared to January still should be recognized as strong. In the services sector, it moved from 54.2p to 56p while the […]
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EURJPY is currently rising, touching the 40-simple moving average (SMA), after the rebound on the lower Bollinger Band in the 4-hour chart. The pair has been struggling in an upward sloping channel since January 15 with the technical indicators returning back to the upside. The RSI is pointing up approaching the 50 level, while the %K line of the […]
The EURUSD is waiting for the ECB and is falling due to expectations – if the ECB again speaks of a new infusion of liquidity into the markets – the euro may break the lower limit of the long range at 1.1230 and start a big downward trend. The ECB meeting tomorrow on Thursday, March […]
On March 5, the GBP / USD pair did not lose a single bp, although it lost about 70 bp from the opening level during the day. However, the whole wave pattern still looks like the end of the uptrend trend and the transition to the construction of a downward trend. If this is indeed […]
Wave counting analysis: On Tuesday, March 4, trading ended for EUR / USD by another 30 bp decline. Thus, the construction of the estimated wave 5 of the downward trend section continues with minimal targets, located about 12 figures. The upward wave option remains in reserve, if the current wave changes to wave b of […]
For the last trading day, the currency pair Pound / Dollar showed close to the average daily 100 points. As a result, it continued to form a corrective movement. From the point of view of technical analysis, we have a corrective movement after testing the range level of 1.3300, where the quotation on its way […]
The signal for starting a downward movement in the euro is still in force. After breaking through the daily level of 1.1315, the EURUSD rate closed the day lower and is ready to move further down. The disadvantage for sellers is that while the movement is very weak – at least only 1.1289. We expect […]
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 […]
In 2008/9, the world went through the worst economic crisis since the great depression of 1929. This collapse was caused by the increase in subprime lending to people who could not afford making the payments. After the crisis, the world economy started to recover. This recovery was fueled by the central banks’ decision to lower […]
Yesterday, the Reserve Bank of Australia (RBA) released its monetary policy decision, which caused the Australian dollar to decline. This was because the bank’s statement sounded more dovish than traders had expected. The officials spent most of the time talking about how weak the economy is. Today, the Australian government released a report which showed […]
Canada is an important country with a population of more than 36 million people and a Gross Domestic Product (GDP) of more than $1.2 trillion. This makes it one of the most successful countries in the world. The country’s success comes from its close relationship with the United States, its diverse economic mixture, and its […]
Bank of Canada meets; markets seem to be expecting a major dovish pivot, which may not materialize US dollar rally revitalized by robust ISM index Aussie drops to two-month lows as RBA rate-cut expectations grow BoC decides as rate-hike bets evaporate The main event on Wednesday will be the Bank of Canada (BoC) rate decision. […]
EUR/USD is testing the 1.13 support level which is also the 61.8% Fibonacci retracement of the last leg higher from 1.1235 to 1.1420. Failing to hold this support area will open the way for a move below 1.1235. Red line – major trend line resistance Green line – support trend line EUR/USD has turned lower […]
Gold price is showing reversal signs. As I explained in our last analysis, Gold price is most probably going to bounce towards the $1,300 level. Bulls need to reclaim this level and stay above it, otherwise we might see another sell off towards $1,260. Purple lines – bullish channel Red line – expected path Gold […]
On Tuesday, the euro fell by 31 points, at the moment it reached the level of 1.1290 – the low on January 24, where it met moderate support. On the four-hour chart, the leading indicator Marlin does not give signals for a reversal (deep correction), so we are waiting for the intermediate support to be […]
Trend analysis (Fig. 1). On Wednesday, the price will move down. The first lower target is 1.3188 – 21 middle EMA (black thin line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – up; – candlestick analysis – up; – trend analysis – down; – […]
Yesterday, the British pound declined by 80 points. Having met with the support of the balance line of the daily timeframe and the signal level of 1.3108, it went back to the opening price of the trading session. Nevertheless, it can be seen that the price has consolidated under the MACD indicator line on the […]
Technical market overview: The GBP/USD pair has hit the technical support zone located between the levels of 1.3100 – 1.3108 in oversold market conditions and despite the weak and negative momentum. The bears have full control over the market as the price is still trading below the trendline (marked in orange) and all of the […]
Trend analysis (Fig. 1). On Wednesday, the price may continue to move down. The first lower target 1.1294 is the historical support level (blue dashed line). Day news are possible options. For the downward movement, breaking through this level is necessary. Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels […]
