The decline in the euro is not surprising after such data on industrial production in Germany, as well as the report of the European Commission, which revised the forecasts for the growth of the eurozone economy for the worse. All of these confirm once again the fact that the European Central Bank, after such a […]
The euro’s slow recovery against the US dollar from November’s 16½-month low appears to have stalled as the outlook for the Eurozone economy grows grimmer by the day with no sign yet that a turnaround is around the corner. Expectations that the European Central Bank will nevertheless press ahead with its plans to start raising […]
ETHUSD is holding marginally below the moving averages in the 4-hour chart, while according to the technical indicators the market seems to be neutral to negative. The RSI is sloping down below the 50 level and the MACD oscillator is flattening above its trigger line but below the zero level. In case of a move lower, the price could challenge the seven-week […]
To open long positions on the GBP / USD pair, you need: The pound was expected to remain under pressure after the publication of the decision of the Bank of England, which kept the interest rates unchanged but lowered the forecast for economic growth. Currently, buyers are viewed in the support area of 1.2860 but […]
To open long positions on EUR / USD pair, you need: Another weak statistics on industrial production in Germany, as well as a revision by the European Commission of their GDP growth forecasts, led to the sale of the European currency in the first half of the day. At the moment, it is best to […]
Following the Australian currency today, the New Zealand dollar as its closest “ally” has collapsed. The catalyst for the decline was the disappointing release of data on the labor market in New Zealand, although such a scenario has been brewing for a long time. The slowdown of the Chinese economy, as well as the dovish […]
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 […]
GBPCAD is holding below the 20- and 40-simple moving averages (SMAs) in the daily timeframe, following the bounce off the resistance level of 1.7530 – a seven-month high reached on January 25. The pair has been trading within an ascending sloping channel over the last six months, despite the upside spikes towards 1.7530. The RSI indicator is […]
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 […]
Large scale graph: The bearish wave that began in February last year has now been fully formed and the proportion of all its parts have been observed. Given the presence of a reversal pattern, we can state the completion of a bearish trend. Medium-scale graph: Since January 3, the price forms an upward wave with […]
In recent days, the dollar has once again managed to gain momentum and fully recover the losses incurred as a result of “softening” the position of the US Federal Reserve System (FRS). The US currency has risen by almost 1% since the January Fed meeting, which resulted in the regulator’s rhetoric surprisingly soft. It should […]
Agricultural commodities have continued to suffer the past year. This is because of the ongoing trade conflict between the United States and China. The chart below shows the performance of corn and soybeans, which are very important crops from the US. The reason for the weakness in price is that the United States is the […]
The New Zealand dollar had its worst day in more than a year after the country’s statistics office released the employment numbers for the fourth quarter. The numbers showed that the unemployment rate jumped to 4.3% from the third quarter’s 3.9%. Investors were expecting the rate to jump slightly to 4.1%. The participation rate, which […]
The Bank of England (BOE) will today release the second interest rates decision for the year. The bank is expected to leave rates unchanged at 0.75%. This will be the fifth consecutive time the bank has left the base lending rate unchanged. It last hiked rates in August last year by 25 basis points. The […]
Chinese New Year holidays continue on this week’s final trading day, which is relatively light in terms of economic news releases. Swiss Unemployment Rate for January opens this agenda at 6:45 in the morning. The seasonally adjusted jobless rate stood unchanged at an extremely low level of 2.4 percent in December. It has been below […]
It’s time for the Dukascopy Midday Snapshot, where we will find out how market players have performed during the morning session on this Thursday. Euro/Dollar has declined towards the 1.13 level and a loss of point 33 percent was posted at noon. Traded volume is average and the neutral sentiment of the traders is leaning […]
Overview: The AUD/USD pair is set above strong support at the level of 0.7046 which coincides with the 23.6% Fibonacci retracement level and 0.7168. This support has been rejected four times confirming the uptrend. Hence, major support is seen at the level of 0.7046, because the trend is still showing strength above it. Accordingly, the […]
Bitcoin is trading downwards and the price tested the level of $3.370 as we expected. Anyway, most recently, we found a strong rejection from the median line at the price of $3.370, which may be indication of potential change in trend dynamic from bearish to bullish. It is too early to confirm the change in […]
Overview: The GBP/USD pair continues to move downwards from the areas of 1.3210 and 1.2913. Last week, the pair dropped from the level of 1.3210 to 1.2913 which coincides with a ratio of 61.8% Fibonacci on the H4 chart. Today, resistance is seen at the levels of 1.3130 and 1.3210. So, we expect the price […]
Today, the pair went beyond the average weekly move. This suggests an increase in the probability of the formation of an upward correctional model. The saturation of important news today and the expiration of options contracts tomorrow may lead to a sharp increase in demand and test one of the correction zones. To date, there […]
The GBP/USD pair broke the short-term support at the price of 1.2925 and confirmed downside continuation. So far, we still see that sellers are in control and that trend is bearish. Price is still trading below the Ichimoku cloud on the H1 time, which is a sign of weakness. My advice is to watch for […]
Sellers are in control in the Gold market. We found a confirmed head and shoulders pattern and absorption of the buying climax in the background, which is a strong sign of weakness. The key resistance now became previous support at the price of $1.308.00-$1.309.00. We didn’t find any big sign of a price reversal, only […]
According to Janet Yellen, the former head of the Federal Reserve System (FRS) of the USA, the regulator can go on lowering the interest rate in the future if the weakening of economic growth all over the world affects the American economy. She believes that the weakening of global economic growth will affect the United […]
Let’s find out if the spreads were shaken up during the past 24 hours by any economic news releases. Euro/Dollar’s daily average spread is point 31 pips and maximum separation has been one pip. The pair has been on a slide from yesterday’s high and it is down by a total of point 52 percent […]
NZDUSD plummeted below the upward sloping channel during yesterday’s session, which had been holding over the last month, creating a fresh two-week low near 0.6743. Currently, the price is easing slightly to the upside around the 50.0% Fibonacci retracement level of the upleg from 0.6560 to 0.6940, around 0.6750, paring some of the previous sessions’ losses. Technically, the RSI indicator […]
GBP/JPY is approaching resistance at 146.02 (50%, 61.8% Fibonacci retracement, horizontal overlap resistance) where we expect price to drop to its support at 141.83 (50% Fibonacci retracement, horizontal pullback support). Stochastic (21, 5, 3) is approaching resistance. GBP/JPY is approaching its resistance where we expect to see a reversal. Sell below 146.02. Stop loss 148.39. […]
EUR/JPY is approaching our first support level at 124.36 (horizontal swing low support, 23.6%, 78.6% Fibonacci retracement, 100% Fibonacci extension) where we expect a strong bounce above this level to our major resistance level at 124.97 (38.2% Fibonacci retracement). Stochastic (89,5,3) is also approaching support. EUR/USD is approaching our first support where we are expecting […]
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BoE may adopt a cautious tone today amid slowing economy, Brexit uncertainty Kiwi dollar collapses after soft jobs data ignite speculation for RBNZ rate cut Greenback capitalizes on weakness in other currencies; stocks stall BoE to strike cautious tone as Brexit uncertainty reigns The spotlight will fall on the Bank of England (BoE) today, which […]
Wave counting analysis: The trading on Wednesday, February 6, ended with another 40 bp decrease. Thus, the main scenario continues to be worked out, which involves building a downward wave 3 with targets located near the minimum of wave 1 and below. An unsuccessful attempt to break through the 23.6% Fibonacci level can lead to […]
