This week was mixed for the market. Asia was a bit slow with the Chinese markets closed for the new year celebrations. This article will highlight some of the biggest stories that happened during the week and the implications going forward. Bank of England Yesterday, the Bank of England released its monetary policy decision. In […]
Hong Kong is an important region in Asia because of its economic proximity to mainland China. The city is a special administrative district for China. As such, it has its own local government, currency, and a central bank that is responsible for setting the monetary policy. The city is one of the biggest financial district […]
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 1.1420 was needed to […]
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 […]
The European currency cannot get out of the tangle of fundamental problems. At the beginning of this year, almost all macroeconomic indicators of the eurozone disappointed. Germany’s consumer price index, data on the growth of GDP in Italy, France, and the entire eurozone, all of these indicators were in the “red zone”, showing a negative […]
Today, the single European currency continues to develop a “bearish” momentum, declining against the dollar for the past five trading days in a row. Another portion of negative news for the euro on the eve came from the European Commission, which worsened the forecast for 2019 for GDP growth in the currency bloc from 1.9% […]
The US dollar punished its critics for arrogance, soaring to the maximum level against the euro since the end of January. It was then that Mario Draghi puzzled the EUR/USD “bulls” with a message about conversations inside the Governing Council about the launch of LTRO. Then, the pair began to buy back in the hope […]
Copper futures with delivery in March 2019 have been moving in a sideways channel over the last six months with an upper boundary the 2.8530 resistance level and lower boundary the 2.5480 support. Currently, the price is easing below the 38.2% Fibonacci retracement level of the downleg from 3.3290 to 2.5480 around 2.8410, having rallied strongly so far […]
We’re halfway through the last trading day of the week; let’s see how things are shaping up for the market players. Euro/Dollar has had an extremely slow session as the pair walked in a total range of just 21 pips. The pair sees a typical amount of funds despite the flat rate movement. Neutral sentiment […]
The GBP/USD pair has been trading upwards. We found strong impulsive upward move followed by the breakout of the bullish flag pattern, which is sign that buyers are in control and that upward movement is expected. The price is trading above the Ichimoku and kijun-tenkan sen lines, which is another sign of the strength.Short-term support […]
Gold has been trading upwards. The price tested the level of $1.310.00. I found that price finally made a break of the downward channel in the background, which is a sign that there is potential change in trend dynamic from bearish to bullish. Also, I found that a breakout of the intraday bullish flag pattern, […]
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USDCHF has moved considerably higher after the bounce off the 0.9715 support zone, which overlaps with the ascending trend line. The price returned back above the 1.0000 strong psychological level and seems promising for further bullish structure. Having a look at the momentum indicators, the RSI lies in the positive territory but is flattening, while […]
Our second scenario from yesterday came into the play. Bitcoin did a successful breakout of the resistance at the price of $3.434 and the supply trendline (white line) in the background, which is a sign that buyers took control from sellers. Intraday support is set at the price of $3.425. Trading recommendation: We are bullish […]
Today, the February option contract will expire, implying an increase in volatility in the American session. This fact may accelerate the implementation of the descending priority model. Yesterday, there was a consolidation below the weekly CZ of 0.6798-0.6784. The next downward target is 1/2 CZ of 0.6714-0.6707. Reaching this zone will allow fixing the rests […]
Overview: The USD/CHF pair continues to move upwards from the level of 1.0003. Today, the first support level is currently seen at 1.0003, the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 0.9982, which coincides with the 50% Fibonacci retracement level. […]
Overview: The NZD/USD pair breached resistance which had turned into strong support at the level of 0.6705 this week. The level of 0.6705 coincides with a golden ratio (61.8% of Fibonacci), which is expected to act as major support today. The RSI is considered to be overbought, because it is above 70. The RSI is […]
We are heading towards weekend, but don’t let that be a reason to take the pressure off your broker. Euro/Dollar’s long term average spread is point 31 pips and maximum separation has been 1.3 pips. The pair has been trending lower since hitting the high of 1 1360 and it declined by point 33 percent […]
Large-scale graphics: The vector of the dominant direction of the short-term trend of gold is directed upwards. The wave completes a larger ascending design, the preliminary target zone of which is in the region of $ 1400 / oz. Medium scale graphics: The rising wave of November 13 formed the final part (C) in the […]
According to Bloomberg, citing the updated forecast of the European Commission (EC), this year the eurozone economy will grow only by 1.3%, not 1.9%, as previously reported. Recall that in the euro area includes 19 European countries, and their official currency is the euro. In November last year, the EC forecast was more optimistic. He […]
AUD / USD pair The decline in prices for most commodities increases the pressure on the Australian currency, which was observed yesterday. Oil, copper, as well as, coffee and sugar fell by 2.48%, 0.36% and more than 1.0%, respectively. On both daily and the four-hour charts, the downward trend is fully maintained, which allow us […]
Analysts of the American company Pimco, one of the world’s largest investors in the bond market, are advised to pay attention to currencies in emerging markets. They are sure that they should buy them, and not US dollars or euros. Pimco believes that at the moment, there are many reasons to acquire the assets of […]
It feels like Theresa May flew to Brussels for breakfast, as for them the hospitable Jean-Claude Juncker fed her. Of course, the head of the European Commission promised to make adjustments to the political declaration of intent, which outlines the common and rather vague contours of interaction between the European Union and the United Kingdom […]
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 […]
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 […]
These are the Dukascopy Daily Trading Signals for Friday. Here’s how the interbank compares with the technicals at 8 AM GMT. Euro/Dollar’s hourly studies are mostly neutral, but the outlook shifts to bearish in both the mid and long term charts. Interbank sentiment is bullish at nearly 29 percent long. Short term studies show mixed […]
GBPJPY has rebounded somewhat on the 40-day simple moving average (SMA), which posted a bullish crossover with the 20-day SMA. Also, the price surpassed the 38.2% Fibonacci retracement level of the downleg from 156.60 to the more than two-year low of 132.50, around 141.70. Despite the bullish cross of the SMAs, the technical indicators continue to slow […]
Risk aversion returns as Trump reignites trade fears, says he won’t meet Xi soon Sterling rebounds as BoE sticks to hiking plans, but Brexit uncertainty lingers Euro drifts lower after EU Commission slashes growth forecasts Canadian employment data coming up Stocks take a hit as Trump says he won’t meet Xi soon US equity markets […]
Wave counting analysis: On Thursday, February 7, trading ended with a decline by another 40 basis points. Thus, the main option continues to be worked out, involving the construction of a downward wave 3 with targets located near the minimum of wave 1 and below. Wave 3 in its internal wave structure still does not […]
