Technical market overview: The GBP/USD pair is trading sideways between the levels of 1.3108 – 1.3012 as the battle of the longer-term trend line continues. Another BEarish Engulfing candlestick pattern was made recently, so it is clear the bears are trying the push the prices below the horizontal support at 1.3012 towards the key technical […]
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On Thursday, February 21, the EURUSD received some support from weak data on the US economy. However, the market expected an impulse from negotiations on the EU-British agreement in Brussels – but an agreement could not be reached right away – experts now expect that Prime Minister Theresa May will ask the EU to postpone […]
Technical market overview: The EUR/USD bears are trying to push the prices back below the technical support at the level of 1.1321 as another Bearish Engulfing candlestick pattern was made. Despite their efforts, the market is still trading inside the channel, so the level of technical support at 1.1321 will be the key level for […]
Technical outlook: An hourly chart view for EUR/USD has been presented here for the short-term wave structure. The EUR/USD pair is showing some resilience and it is not going to give up the 1.1300/20 handle to bears. With prices moving in a tight range between 1.1320 and 1.1360 levels since the last 2 trading sessions, […]
We remain bullish for a break above resistance at 144.84 that will open up for a continuation of the bullish trend towards 145.92 on the way higher to 149.41 and the 161.8% extension target at 151.50. Support is now seen at 144.05 and again at 143.55. Ideally the later will protect the downside for the […]
Our bullish bias remains firmly in place, for a break above resistance at 125.95 for a continuation towards 128.31 on the way higher to 129.46 and the 161.8% extension target at 133.54. Trading the last 24 hours has be non eventful as a sideways consolidation between 125.33 and 125.95 is dragging on. It should just […]
EUR/CAD is approaching its resistance at 1.5024 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 1.4978 (50% Fibonacci retracement, horizontal pullback support). Stochastic (55, 5, 3) is nearing its resistance at 96% where a corresponding reversal is anticipated. EUR/CAD is approaching its […]
For the last trading day, the currency pair Pound / Dollar showed a low volatility of 97 points. As a result, it had a stagnation-rollback in the market. From the point of view of technical analysis, we have a pulsed upward trend, where the quotation reached values of 1.3076-1.3108. After that, the phase of stagnation […]
Data on Germany continue to upset investors, creating some pressure on risky assets, including the euro, which also fell against the US dollar in the first half of the day after the release of weak reports on the eurozone economy. According to the data, the final consumer price index CPI of Germany in January this […]
At the beginning of the US session, the dollar index fell sharply, dropping in a matter of minutes to the level of 96.2 points. Such a breakthrough was due to the release of disappointing data on the growth of orders for durable goods in the US. Contrary to positive forecasts, the total volume of orders […]
4-hour timeframe The amplitude of the last 5 days (high-low): 82p – 72p – 45p – 82p – 46p. Average amplitude for the last 5 days: 65p (73p). On Thursday, February 21, the EUR/USD currency pair again made a breakthrough upwards, which in the illustration appears very convincing, but in fact is only 35 points. […]
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The US 100 index continues to print higher lows and higher highs on the daily chart, after it bottomed on December 26. The short-term picture thus remains somewhat positive, though the inability of the bulls to pierce above the 200-day simple moving average (SMA) is worrisome and suggests some cause for caution. Indeed, short-term oscillators […]
The blue chip EU50 stock index has impressively improved since the start of the year, adding 10% to its value to reach four month highs.The market is currently testing the previous peak of 3,263 and the downward trendline drawn from the top of July 2018 at 3,535 but the RSI is close to its 70 overbought mark suggesting […]
By the end of Wednesday’s trading on February 20, the price of Brent crude oil updated its three-month high, reaching $ 67.37 a barrel. According to experts, support for oil prices was largely due to the uncertainty about Brexit. Recall that on March 29 of this year, the UK is scheduled to leave the European […]
To open long positions on the GBP / USD pair, you need: As long as trading is above the resistance of 1.3037, the demand for the British pound will continue. However, the bulls need a breakthrough and consolidation above the resistance of 1.3089, which may coincide with a bad report on the American economy, which […]
To open long positions on EUR / USD pair, you need: After a weak report on PMI index activity in the eurozone, euro buyers failed to rise higher than the resistance of 1.1355 but the demand remains. In the afternoon, all attention will be focused on data of the US economy but the bulls still […]
News flow slows down slightly towards the end of this week, so let’s take a closer look. The final German GDP for the fourth quarter opens this agenda at 7 o’clock in the morning. According to preliminary report, economy stalled in the final quarter of last year. This follows a slight decline in the September […]
AUDJPY has been stuck in a narrow sideways range, with an upper bound at 79.80 and a lower bound at 77.40, since early January. In light of this, the short-term picture is neutral, with a break on either side of this range needed to provide the broader directional bias. Both the RSI and the MACD […]
While the dollar waits for the publication of the Fed’s minutes, it went up again and the reason for this was more than serious. The minutes of the Fed revived expectations of a possible rate hike this year. In the meantime, the dollar rose slightly against the yen and reduced losses against the euro after […]
On December 12, the previously-dominating bearish momentum came to an end when the GBP/USD pair visited the price levels of 1.2500 where the backside of the broken daily uptrend was located. Since then, the current bullish swing has been taking place until January 28 when the GBP/USD pair was almost approaching the supply level of […]
Large timeframe: Since September last year, gold quotations are moving up. The wave completes a complex correctional model of weekly timeframe. The preliminary target zone is approaching the lower boundary. Small timeframe: Since the end of January, a descending trend has formed on the gold chart. In the wave of the main trend, this is […]
Silver retreated after jumping towards a new seven-month high of 16.20 during Wednesday’s session. The bullish picture in the very short-term looks to last for a while longer as prices remain above the 20- and 40-simple moving averages (SMAs). Also, the price failed to slip below the red Tenkan-sen line and is holding above the Ichimoku cloud. Technically, […]
Japan’s 225 stock index has staged a 5% rise over the past two weeks to jump above the Ichimoku cloud and reach a nine-week high of 21,554 today. The MACD keeps stretching higher and above its red signal line, spreading hopes that there are more gains in store. The RSI is also in bullish territory (above 50) […]
USDCNH had a strong bearish start on Thursday, with the price falling below a crucial support of the 38.2%Fibonacci retracement level of the upleg from 6.2350 to 6.9781, near 6.6949, creating a fresh seven-month low of 6.6861. From the technical point of view, the RSI is flattening in bearish territory, while the MACD also supports a bearish picture, since […]
Large timeframe: The older timeframe cross shows a downward wave, which set the course of the price trend the whole year of 2018 and reached a strong level of support. Small Timeframe: The rising wave of January 3 has a strong reversal potential. On a larger scale, the plot will eventually form a wave equivalent […]
Since June 2018, the EUR/USD pair has been moving sideways with slight bearish tendency within the depicted bearish Channel (In RED). 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 […]
USDZAR continues to trade in a downward pattern, with the price structure consisting of lower highs and lower lows below a downtrend line drawn from the September highs. Moreover, the 50-day simple moving averages (SMA) looks ready to cross below the 200-day one, which would mark a so-called ‘death cross’ – a bearish sign. Momentum […]
The Australian dollar is losing value again, experiencing a very volatile session. Recall that at the beginning of the session, the Australian rose to a two-week high of 0.7207 dollars, which was helped by strong employment data in January. However, it failed to linger at the summit and quickly lost altitude. Traders attributed the fall […]
