The US 500 stock index found strong support level at the 50-day simple moving average (SMA), creating two consecutive red days, after the aggressive upside rally from the 19-month low of 2,332. The short-term technical indicators support this notion as the RSI is marginally pointing upwards in the positive area, while the MACD lies above trigger and […]
The January Flash PMI and ECB Monetary Policy Thursday is here, so let’s take a closer look with the Dukascopy Economic Calendar. The Flash Manufacturing and Services PMI run starts with French statistics at a quarter past eight in the morning. Flash German statistics will then be released fifteen minutes later. The whole bloc’s data […]
To open long positions on the GBP / USD pair, you need: Statements by the Minister of Commerce of Great Britain saying that it was impossible to work out and implement the deal by March 29 led to the strengthening of the pound in the first half of the day, as many traders expect to […]
Since June 2018, the EUR/USD pair has been moving sideways with a slight bearish tendency. Narrow sideway consolidations have been maintained within the depicted Flag 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 uptrend (In blue) was initiated. Bullish […]
To open long positions on EUR / USD pair, you need: The situation did not change compared to the morning forecast. The first signal to buy EUR / USD will be the breakdown and consolidation above the resistance level of 1.1376, which will lead to a stronger upward correction in the area of the maximum […]
Trading recommendations: Nothing has changed since my yesterday’s analysis. BTC has failed to reach the Pitchfork median line, which is a sign that sellers are loosing power and the demand may increase. There is also a breakout of the Pitchfork diagonal (resistance) which is another confirmation of strength. The key support at the price of […]
Gold is expected to move higher towards $1,294.00 (resistance cluster) as long as the support at $1,276.00 is holding. Gold failed to test the Pitchfork median line, which is a sign that selling power is waning. Only a break below support at $1,276.00 will change this bullish trading idea and stop us for our bullish […]
As I expected the GBP/USD pair traded higher and met my first yesterday’s target at the price of 1.3000. The momentum is still strong on the upside and GBP/USD is going towards the second objective target at the price of 1.3080. The upward Andrew Pitchfork channel is giving us well defined levels of support and […]
It’s 12 PM GMT on this Wednesday, and it’s time for the Dukascopy Midday Snapshot. Euro/Dollar has walked in a relatively narrow range of 21 pips, but the pair sees a typical amount of funds. Sentiment of the traders is bullish, long positions are in the lead by 24 percent. The narrow price movement range […]
Intel will report its earnings for the latest quarter on Thursday, after the US market close. Given that demand has been rising so fast the company has been unable to meet all of it, risks seem tilted towards a beat in earnings and revenues, as opposed to a disappointment. That said, besides the earnings figures, […]
Large scale graph: The bearish wave has set the direction of the cross trend for the last year and a half. The coincidence of several factors at once such as the completeness of the wave structure, the achievement of strong support and the presence of a reversal pattern indicate a quick change in the trend […]
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 […]
Overview: The EUR/USD pair opened below the weekly pivot point (1.1393). It continued to move downwards from the level of 1.1393 to the bottom around 1.1335. Today, the first resistance level is seen at 1.1393 followed by 1.1426, while daily support 1 is seen at 1.1335. Furthermore, the moving average (100) starts signaling a downward […]
EUR/JPY has been consolidating below 125.00 area after an impulsive bounce off the 121.00 support area. EUR has been weighed down by the BREXIT uncertainty and worse-than-expected economic reports which lead to EUR’s weakness against JPY. EUR has been hurt by the recently published economic reports which did not support the impulsive bullish momentum further […]
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As you can see on the two-day chart, there’s a huge bearish double zigzag pattern, which could be wave (2). Previously, we had a massive bullish rally in impulsive wave (1). Also, we’ve got a finished zigzag in wave Y of (2), as shown on the 480-minute chart on the right. In this case, we’re […]
The volatility of the EURUSD pair has fallen to the lowest values in recent days – the market is preparing to move. There are still three main subjects – and none is resolved until the end: 1) the Shutdown in the US – the vote in the Senate on the way out of the budget […]
The three-month standing of the euro in the range is coming to an end – important events will force the euro to go out of range and look for a new equilibrium zone. There are three such events: 1) The crisis of the US budget – in the US Senate, a vote on the proposals […]
It’s time to check the quality of your broker’s price feed with the Dukascopy spike controller. Euro/Dollar has a daily average spread of point 34 pips and maximum separation has been 1.3 pips. The rate movement has been mostly calm for this pair. The daily high and low difference of 38 pips was posted as […]
To open long positions on GBP/USD you need: The pound continues to show a slight increase against the background of statements by the British Prime Minister Theresa May on the changes in Brexit, but there is no support from the major players yet. While trading is above support at 1.2944, the demand for the pound […]
To open long positions on EURUSD you need: Yesterday’s weak data for the euro area led to selling the European currency, but a larger downward movement did not happen. At present, the first signal to buy EUR/USD will be a breakdown and consolidation above the resistance level of 1.1376, which will lead to a stronger […]
Wave counting analysis: On January 22, the GBP / USD pair rose 65 bps. The estimated wave completed with its construction, as well as the entire three-wave segment of the trend. At the same time, the breakthrough of the Fibonacci level of 76.4% will lead to the complication of the uptrend of the trend, which […]
Wave counting analysis: On Tuesday, January 22, trading ended for EUR / USD by 10 bpts. Thus, the tool remains within the framework of the construction of the proposed wave 4, in s. If this is true, then the increase in quotations will resume in the near future as part of wave 5 with targets […]
EURJPY has been moving sideways over the last three weeks with upper boundary the 125.05 resistance and lower boundary the 123.40 support. Currently, the mid-level of the range is the 38.2% Fibonacci retracement level of the downleg from 133.10 to 118.57, around 124.10, where the price has been trading above it since January 17. According […]
Risk appetite remains weak as trade and growth concerns resurface BoJ stays on hold, provides no new signals – yen yawns Kiwi outperforms as New Zealand’s inflation prints beat estimates Growth and trade woes keep investors on the defensive Market sentiment remained fragile on Tuesday, with investors cutting their exposure to riskier assets and diverting […]
On Wednesday, the price will move up. The first upper target of 1.1392 is the recoiling level of 23.6% (yellow dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis – up; – trend analysis – up; – Bollinger lines […]
Large scale graphics: The latest current wave design of the cross is ascending, starting from September 10th. It is formed along a powerful support zone. The structure in recent months takes the form of the middle part (B), which has a high chance to break through the level of the beginning of the entire wave. […]
Trading plan for 23/01/2019: Markets remain stable in most cases, waiting for new events. The decision of the Bank of Japan did not surprise and passed unnoticed. The growth leader in the currency market is NZD after a better-than-forecast CPI reading. Indices in Asia were almost still, Shanghai Composite is at Tuesday’s closing level. Japanese […]
Trend analysis (Fig. 1). On Wednesday, the trend is working upwards with the first upper target 1.3001 – the upper fractal. Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis is neutral; – trend analysis – up; – Bollinger lines – […]
EUR/USD reached very close to our 1.1320 target. This target was given once 1.14 failed to hold. Price now seems to be turning upwards. In the weekly chart we see price respecting the weekly trend line support and this is a bullish sign. Red rectangle – major resistance Black line – major support trend line […]
