Morning Report: 07.00 London The US dollar index is pausing at the highs this morning after reaching six week highs yesterday. Trade talks with the US and China have resumed, helping US markets to push higher yesterday, with consolidation this morning. The EUR/USD is pausing at the lows after plunging through the 1.1300 level yesterday. […]
Nothing really have changed here. After a day of narrow range-trading, we continue to look for a break above minor resistance at 142.63 to confirm that wave iv/ has completed and wave v/ higher towards 151.50 is developing. That said, we need to be aware, that as long as minor resistance at 142.63 is able […]
After a day of range-trading, we are still looking for a break above minor resistance at 125.07 to confirm wave ii has completed and wave iii higher to 133.54 is developing. That said, we need to be aware of the possibility of a deep corrective decline in wave ii as long as minor resistance at […]
GBP/USD dropped below 1.2930 area under impulsive bearish pressure recently which changed the bias to bearish, aiming for further bearish momentum. The UK GDP showed a slowdown in the domestic economy in the final quarter of 2018. Besides, the BREXIT pressure is still going on that is certainly bearish for GBP for the medium term. […]
Technical outlook: We have presented the Daily chart for EUR/USD since September 24, 2018 till current date, to have a larger view of the potential swing. As seen here, EUR/USD formed interim support at 1.1215 levels on November 12, 2018 and since then it has been producing a very complex corrective and sideways price action. […]
https://pepperstone.com/en/forex-news/market-review -GBP, EUR and AUD stem their losses -Dollar index back above 97 -Theresa May to give a Brexit update -Congress pencils in a deal on that border funding -Catalan leaders on trial in Spain -The OECD on growth during 2019 The overnight changes and price moves to be aware of by Pepperstone’s Market Analyst, […]
When the European market opens, no economic data will be released. The US will publish the economic data such as JOLTS Job Openings and NFIB Small Business Index, so amid the reports, the EUR/USD pair will move with a low to a medium volatility during this day. TODAY’S TECHNICAL LEVEL: Breakout BUY Level: 1.1331. Strong […]
In Asia, Japan will release the Prelim Machine Tool Orders y/y, Tertiary Industry Activity m/m, and M2 Money Stock y/y. The US will also publish some economic data such as JOLTS Job Openings and NFIB Small Business Index. So there is a probability the USD/JPY pair will move with a low to a medium volatility […]
The currency pair Pound / Dollar showed a low volatility of 54 points by the end of the last trading week. As a result, the quotation remained at the same level. From the point of view of technical analysis, we see a six-day accumulation at a periodic level of 1.2920, while exhibiting low volatility. Moreover, […]
The price of Brent crude is showing mixed trends at the beginning of a new trading week. Quotes of the asset vary over a wide range of $61.30-62.30 per barrel. Market participants regain data on the growth in the number of drilling rigs in the United States and follow the news on trade negotiations between […]
4-hour timeframe The amplitude of the last 5 days (high-low): 74p – 128p – 54p – 143p – 54p. Average amplitude for the last 5 days: 91p (94p). The British pound sterling resumed its downward movement on the first trading day of the new week. There were plenty of grounds for this, even if for […]
4-hour timeframe The amplitude of the last 5 days (high-low): 37p – 40p – 50p – 44p – 30p. Average amplitude for the last 5 days: 40p (45p). On the first trading day of the week, the EUR/USD currency pair continued, as we expected, the downward movement and reached both the support level of 1.1301 […]
Today, the British currency received another blow: data on GDP growth and industrial production were in the “red zone”, showing a significant slowdown. Almost three years of uncertainty affect the country’s main macroeconomic indicators, and this fact is increasingly reminiscent of itself. Against the background of such trends, the negative news on Brexit is severely […]
Both the Australian and New Zealand dollars have seen the wind leave their sails lately, amid mounting speculation that their respective central banks will cut rates soon, and as investors started having second thoughts about a US-China trade deal. Examining the landscape for each economy, the case for looser policy in New Zealand seems much […]
Bitcoin spiked higher and tested the price of $3.763. Our profit target at $3.543 has been reached. Anyway, after the spike I found a sideways regime, which usually happens after the climatic activity. Symmetrical triangle is building and you should pay attention for the potential breakout of support or resistance trendline. Trading recommendation: Scenario 1 […]
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 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 1.1420 was needed to enhance […]
EUR/USD has been trading downwards. The price did a breakout of the key short-term multi-pivot trendline (1.3000), which is a sign that sellers are in control. The next important support levels are set at 1.1240 and at the price of 1.1215. The short-term trend is bearish and you should watch for selling opportunities. Trading recommendation: […]
The British currency today received another blow. Data on the growth of GDP and industrial production were in the “red zone”, demonstrating a rather significant slowdown. The almost three-year period of uncertainty affects the main macroeconomic indicators of the country, and this fact is increasingly reminded of itself. Against the background of such trends, the […]
The British pound has once again tested the strength of the support level of 1.2922, which did not withstand the pressure after the release of disappointing fundamental statistics on the state of the UK economy, which continues to slow against the background of a number of political and economic events. According to the report, the […]
Gold has been trading downwards. The price tested the level of $1,304.00. According to the H4 time frame, I found that Gold did a successful breakout of the bearish flag pattern (ABC correction) which is a sign that selling continues. I also found confirmed the Head and Shoulders pattern in the background which is another […]
The British economy went into decline in the last three months of last year, which resulted in the growth in 2018 to be the weakest in the last six years. Overall, growth rates fell to 1.4 percent compared with 1.8 percent in 2017. Exports are suffering from the weakness of the global economy and both […]
To open long positions on the GBP / USD pair, you need: The British pound fell in the morning, which allowed buyers to work out my morning scenario in testing the support of 1.2284, which, unfortunately, did not reach several points. As long as trade is conducted above this range, one can count on a […]
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 […]
EURCHF created an aggressive upside spike on Monday, after the bounce off the 40-simple moving average (SMA) in the daily timeframe and on the 23.6% Fibonacci retracement level of the downward movement from 1.1710 to 1.1180, around 1.1305. Currently, the pair is consolidating within a sideways channel with upper boundary the 1.1470 level and lower boundary the 1.1180 support. […]
The negotiations that took place in the US Congress last weekend again did not bring the desired results on the issue of border security, which threatens the likelihood of a deal to further finance the US government this Friday. And it threatens the new “Shutdown.” The immigration issue again became a stumbling block in the […]
At the end of last week, the dollar strengthened by more than 1%, demonstrating the best dynamics since August 2018. The winning greenback series can be the longest since February 2017. The USD index has been closing in the green zone for already 6 trading sessions in a row. The demand for the dollar as […]
To open long positions on EUR / USD pair, you need: As I noted in my morning forecast, amid the absence of an important fundamental statistic, euro buyers are gradually returning to the market and to maintain the upward impulse, it is necessary to return and fix above the resistance of 1.1321. This will open […]
Currently, a number of experts pay attention to signs of a slowdown in the global economy. Most signals indicate that it is approaching a recession. This is confirmed by the large-scale decline in global trade over the past three years. For ten years, most of the negative economic news was perceived by financial markets with […]
The dollar couldn’t improve its position in relation to the single European currency and the pound. Although in the United States themselves no significant macroeconomic data did not come out. It is difficult to name data on production orders or orders for durable goods, as well as applications for unemployment benefits, are so decisive. At […]
Will the British pound be able to recover after the most devastating week since October? The Bank of England’s decline in foggy Albion’s GDP forecasts for 2019 from 1.7% in the previous estimate to 1.2% (the weakest level since the global financial crisis), unfavorable political landscape and a gaining US dollar lowered the GBP / […]
