4h The currency pair GBP / USD on a 4-hour chart rebounded from the Fibo level of 76.4% – 1.3094 with a turn in favor of the American dollar. As a result, February 5 continues to fall in the direction of the correction level of 61.8% – 1.2969. Rebounding the pair from the Fibo level […]
EUR/USD made no progress yesterday as price moved in a narrow trading range holding above 1.14 support and below 1.15 resistance. Short-term support is being challenged at 1.1430 and this might be a sign of weakness implying a move towards 1.1360 is possible over the coming sessions. Green rectangles – topping pattern with overbought RSI […]
Trading plan for 05/02/2019: On Tuesday, the 5th of February, the event calendar is light in important data releases, but the global investors should keep an eye on the PMI Services and Composite PMI being released from Germany, France, Spain, Italy, the UK, and the Eurozone itself. During the US session, the only interesting data […]
Morning Report: 07.00 London The dollar index is on the back foot this morning as US markets show concern over tech giant Alphabet’s (Google) rising costs. Dollar pairs are generally higher, but the start of the morning is the AUD/USD which is rallying strongly despite the RBA hinting that rates will be kept on hold […]
Gold price after topping at $1,326 has made a 15$ pull back and is now trying to bounce higher once again. Although technically trend remains bullish, I prefer to be neutral Gold at current levels as I expect this pull back to at least go towards $1,300. Gold price is above both the tenkan- and […]
Bitcoin Elliott Wave analysis for 05/02/2019: The market trading range is getting more narrow, breakout soon? Market technical overview: The BTC/USD market is still developing the horizontal wave progression and the price range is now, even more, narrower as the range has decreased to $122 only (from $3,422 to $3,544). This lack of volatility might […]
Technical analysis of USD/CAD for 05/02/2019: The key Fibonacci retracement is violated and the bounces are shallow so far Market technical overview: The USD/CAD pair is continuing its way down. The 61% Fibonacci retracement at the level of 1.3119 has been broken and the price has made a new local low at the level of […]
Technical analysis of GBP/USD for 05/02/2019: The technical support is broken, more downside is expected Market technical overview: The GBP/USD pair has broken below the key technical support zone located between the levels of 1.3042 – 1.3055 and has made a new local low at the level of 1.3025. This low has been also made […]
https://pepperstone.com/en/forex-news/market-review -AUD and NZD start the week with gains. -The yuan gains as the holidays begin -Dollar index unchanged and looking for cues -Japan’s service sector PMIs show growth and a lack of capacity -UK Jan retail sales provide a boost in a sector under pressure -Donald Trump to give a delayed State of the […]
Increasingly, there are fears that in the next five years, the global network may be divided into two Internet, Chinese and American. The head of the Chinese AI-company Sinovation Ventures Kai-Fu Lee said that the likelihood of such a scenario is quite high. There is such a thing as a Spline Internet (from the English. […]
4-hour timeframe The amplitude of the last 5 days (high-low): 73p – 144p – 90p – 62p – 72p. Average amplitude for the last 5 days: 88p (106p). On Monday, February 4, the GBP / USD currency pair continues the weakest downward movement, and we still expect a stronger decline from the pair. Although in […]
4-hour timeframe The amplitude of the last 5 days (high-low): 54p – 39p – 96p – 78p – 54p. Average amplitude for the last 5 days: 64p (77p). As we expected, the first trading day of the week remains for the US currency. Strong macroeconomic statistics, published on Friday, in particular, NonFarm Payrolls and the […]
The pound against the dollar gradually slips from the level of the annual maximum (1.3216) to the base of the 30th figure. And although the southern dynamics is cautious in nature, the tension among traders is increasing day by day, given the rhetoric of top European countries regarding the prospects for Brexit. It is noteworthy […]
According to the US Department of Labor, unemployment in the country increased from 3.9% in December to 4% in January. At the same time, the number of new jobs in non-agricultural sectors of the economy increased by 304 thousand, which exceeded analysts’ forecasts by almost 2 times. Experts expected the first indicator to remain at […]
According to a number of experts, investment in gold will remain relevant in 2019 due to increased volatility and uncertainty in global financial markets. “We believe that the current year should be favorable for gold, as investors are still interested in defensive assets,” said Standard Chartered Bank specialists. “We expect that during the year the […]
Following the Fed, the RBA comes next in line to decide on monetary policy. The first meeting of 2019 at 0330 GMT on Tuesday is expected to extend the historic period of inaction to 29 months, though with the Fed, the world’s most influential central bank, shifting outlook to neutral, speculation is swirling that Australia’s central may appear more […]
According to the report of the oil service company Baker Hughes, for the period from January 28 to February 1, US energy companies reduced the number of oil drilling rigs by 15 units, to 847 wells, the minimum in the last eight months. Oil companies began to cut costs due to forecasts of a decrease […]
The head of the Federal Reserve Bank of Minneapolis, Neel Kashkari, believes that the pause of the American regulator in the process of raising interest rates will allow the country’s economy to continue to grow. The official stressed that the US economy has the potential for growth, and a premature tightening of monetary policy can […]
The British pound realized that it went too high on incomprehensible optimism and therefore, the risks of profit taking on weak statistics in Britain are growing by leaps and bounds. The proof is the drop in the GBP/USD pair in response to disappointing data on business activity in the manufacturing sector. The figure fell to […]
To open long positions on the GBP / USD pair, you need: The situation in the GBP / USD pair has not changed compared with the morning forecast. Buyers of the British pound may resume an uptrend but this will require a breakdown of the middle of the channel in the area of 1.3104 with […]
Bitcoin has been correcting itself between $3,400-3,500 for a few days in a row. The price is expected to sink much lower in the coming days. The price recently broke below the trend line support which has been also retested today as resistance while also being held by the dynamic levels like 20 EMA, Tenkan, […]
FXTM Research Analyst, Lukman Otunuga, rounds up all the key market events for this week, and pinpoints what traders should look out for ahead, including: • Investors to keep a close eye on US-China trade talks • Bank of England meeting expected to leave interest rates unchanged • Will the GBPUSD surprise the markets this […]
Google stock price has been finding a strong resistance level around the 200-day simple moving average (SMA) since Thursday, challenging the 50.0% Fibonacci retracement level of the downward movement from 1270 to 967, near 1119 as well. The upward spike sent prices towards a new three-month high of 1,124 and momentum indicators now suggest that the market sentiment might rise even higher as […]
To open long positions on EUR / USD pair, you need: Weak data on producer prices in the eurozone has once again led to continued pressure on the euro in the morning. Today, buyers once again need to keep the pair above the support level of 1.1436, which will be the first signal to buy […]
Another weak fundamental statistics on the eurozone led to a decline in the European currency in the first half of the day, but the bears have not yet managed to form a larger downward movement in the EUR / USD pair. Many will depend on whether sellers manage to cope with the support level of […]
The growth of the dollar contributes to several factors. The first is the report on employment in the United States and the high activity of the manufacturing sector. The growth of the dollar contributes to several factors. The first is a report on employment in the United States and the high activity of the manufacturing […]
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 […]
CADJPY is extending its gains, recording a seven-week high of 83.95 earlier today and is set to complete the fourth straight green day. Also, the price surpassed the 20- and 40-simple moving averages (SMAs) which are on course to post a bullish crossover in the next daily sessions. The MACD is strengthening its bullish momentum, entering the positive area, while the […]
Chinese New Year is celebrated on this Tuesday and market holidays continue in China. Meanwhile, January Services PMIs will be published in other regions, so let’s take a closer look. The Italian publication of the Services PMI for January opens this agenda at 8:45 in the morning. The final French stats will then be available […]
It’s noon GMT on this Monday and time for us to find out how this day has been shaping up for the market players. Start of the week has been slow for the Euro/dollar. The pair has been traded in a total range of only 23 pips and it has attracted less than half of […]
