EURJPY is on course for a strong session after the rebound on the 128.30 support, in the 4-hour chart. This week, the pair has been on the backfoot and the technical indicators suggest that the market could ease a little bit in the short-term. The Relative Strength Index (RSI) is pointing to the downside in the negative zone, strengthening […]
Analytical review on Gold, Silver, and Oil According to Silver, the price has established a local structure for the development of the upward movement of October 23. According to Gold, the subsequent targets for the top were determined from the local ascending structure on October 22 and the level of 1223.90 is the key support. […]
To open long positions on GBP / USD, you need: Yesterday, the pound buyers managed only to form the upper limit of the downward channel. Today, it is best to rely on long positions after the formation of a false breakdown in the support area of 1.2970. However, the main task of buyers will be […]
Let’s find out how the interbank compares with the technicals at 8 AM GMT on this Wednesday. Euro/Dollar has red signals across all three time ranges and these signals are confirmed by the 27% short interbank sentiment. Pound/Dollar has most of the indicators pointing South in all three time scales as well. Interbank stance is […]
Risk Warning: 69.39% 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: 69.39% 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 […]
Here are the latest developments in global markets: FOREX: The dollar index is nearly flat on Wednesday (+0.05%), consolidating the modest losses it posted yesterday. The defensive yen outperformed amid fragile market sentiment, though it has stabilized somewhat today. In the UK, the pound jumped higher on reports the EU may offer a UK-wide customs […]
To open long positions on EUR / USD, you need: As long as the trade is conducted above the level of 1.1449, the demand for the euro will continue. However, the main task is to break down and consolidate above the resistance of 1.1485, which was not possible to do yesterday throughout the day. Only […]
Dear colleagues. For the Euro / Dollar currency pair, we expect further downward movement after passing by the price of the range of 1.1448 – 1.1428. For the currency pair Pound / Dollar we continue to follow the downward cycle of October 12 and the development of this structure is expected after the breakdown of […]
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Gold price broke above the triangle pattern as we expected and reached $1,240. Price is now pulling back down towards the break out area. Holding above it is a bullish sign. Breaking below $1,220 would confirm the end of the upward move and the start of a new down trend. Green lines – triangle pattern […]
EUR/USD is trading above the critical support of 1.1430-1.1450. Price has been mainly moving sideways between 1.16 and 1.1430 for the last few days. For bulls it is important to hold above recent lows and break above 1.1520. Red dots – maximum strength short-term resistance Green dots – maximum strength short-term support EUR/USD has made […]
There was an interesting session on the SP500 market as in the first hour after the start of the Wall Street session it fell over 2.0% (dropped under 2700 points). In the following hours, however, the bulls were more active on the market and the price continued to return to 2750 points. WTI oil prices […]
EUR/AUD has been impulsive with the bearish gains since it bounced off the 1.6350 area with a daily close being in a strong bullish trend earlier. AUD is currently the stronger currency in the pair which might lead to further bearish pressure despite the recent bullish bounce off the 1.6050 area. Though EURO has been […]
AUDUSD is flirting with the 32-month low over the last couple of sessions and holds below the 20- and 40-simple moving averages (SMAs) in the daily timeframe. The bearish trend though could stay in place given that prices continue to fluctuate beneath the long-term descending trend line. According to the RSI, the market could maintain neutral to positive momentum […]
The price of Crude Oil fell by 5% on Tuesday afternoon after the Saudi Arabian declaration of willingness to fill any supply gap. The oil minister Khalid Al-Falih said that OPEC and his supporters are in the phase of “production on the highest possible scale” in order to meet the demand and fill the shortcomings […]
EUR/JPY has been quite volatile after breaking below 129.50 with a daily close which is currently heading higher for a retesting the area again. JPY has been the dominant currency in the pair but recently, due to certain positive EURO economic outcomes, the market sentiment bias is getting indecisive which might lead to a certain […]
Minor resistance near 1.7515 has proofed tougher than first expected, but after a minor corrective dip to 1.7450, we expect renewed upside pressure and a clear break above minor resistance at 1.7515 for a continuation higher towards 1.7700 and longer-term higher towards 1.8345 as red wave iii/ starts to accelerate. Support is now seen at […]
Morning Report: 07.00 London The dollar index is mixed after stepping off the gas yesterday. Despite this, the euro continues to lag on soft inflation and Italian concerns. The EUR/GBP is dipping again after failing to break the 0.8850 resistance line. The EUR/CHF continues to stumble at the highs, with the pair trading within a […]
https://pepperstone.com/en/forex-news/market-review -The AUD, NZD push back and JPY weakens. -Dollar index is back below 96. -Trump attacks the Fed again. -Shinzo Abe visits China for talks. -UK PM May to meet Tory Brexit rebels. -Will we see further divergence in Global Manufacturing PMI data? The overnight changes and price moves to be aware of by […]
EUR/JPY dipped to 128.21 but stayed above the important support level at 127.86 before turning higher again. The very deep correction in blue wave (2) is of concern, but as long as support at 127.86 is untouched, we will remain long-term bullish and look for confirmation that blue wave (2) has completed and blue wave […]
The October meeting of the Bank of Canada will be held tomorrow, which traders of the USD/CAD are looking forward to. According to the general forecast, the regulator should raise the interest rate by 25 basis points at this meeting – for the third time this year. However, last week the extremely weak data on […]
The growing risks of slowing global demand, Saudi Arabia’s assurances of increasing oil production and closing long positions on Brent and WTI contributed to the development of a correction in the oil market. The escalation of the political conflict in Italy, the problems with the conclusion of an agreement between London and Brussels within the […]
The dollar index is growing, reflecting the fundamental picture of recent days. The first days of the trading week are not saturated with macroeconomic releases, so the foreign exchange market focused on three points of geopolitical tension. It’s about the murder of a Saudi journalist, the Italian budget crisis and Brexit. These topics do not […]
The previous day’s statements by the Italian authorities led to a sharp decline in demand for risky assets, as the aggravation of the political crisis in the EU by the Italian authorities could have a serious impact on investor confidence. Let me remind you that on Monday the Italian government announced that it would implement […]
To open long positions for GBP/USD, it is required: It is best to rely on long positions after the formation of a false breakdown in the support area of 1.2970, which may occur after the speech of the Bank of England Governor Mark Carney. In the event of a further decrease in the pound, it […]
To open long positions for EURUSD, it is required: Today, buyers are trying to cling to the support level of 1.1449 in the afternoon, and as long as trading continues above this range, the demand for the euro will remain. However, the main task is to break down and consolidate above the resistance of 1.1481, […]
The Eurozone will see the release of the flash October PMI survey on Wednesday at 0800 GMT, a day before the European Central Bank (ECB) meets to decide on monetary policy. Consensus is for the data to soften both in the services sector as well as in the manufacturing industry, potentially providing signals that expansion within the single currency area […]
Microsoft’s earnings report for its fiscal first quarter will be made public after Wednesday’s closing bell on Wall Street. The consensus recommendation for the company is “buy”, which matches the average consensus recommendation for the Software peer group. Reuters’ estimates put the tech giant’s earnings per share (EPS) at $0.96 during the quarter ending in […]
Analysts of the American investment bank JPMorgan Chase said they believe in improving the dynamics of the single European currency against the dollar. According to them, this will happen only next year, but for now, investors should be prepared for the fact that, together with the dollar, the euro will still update the minimums. “Eurozone […]
