The Bank of Canada (BoC) is nearly certain to raise interest rates by 25bps when it announces its decision on Wednesday, at 1400 GMT. Such a move is virtually fully priced in already and hence, price action in the loonie will hinge mainly on what signals the Bank sends regarding the likelihood of further hikes […]
West Texas Intermediate oil futures plunged over the last sessions, moving towards the long-term ascending trend line in the 4-hour chart. Also, they hold below the 20- and 40- simple moving averages (SMAs), while the technical indicators are confirming the recent negative structure in the near-term. The RSI indicator is pointing south, having just fallen below the 30 oversold zone, and the MACD oscillator just […]
On the weekly chart, the EUR/USD pair is demonstrating a high-probability Head and Shoulders reversal pattern where the right shoulder is currently in progress. Since June, the EUR/USD pair has been trapped within a narrow consolidation range ( 1.1500 ) and (1.1750). On September 10, the price level of 1.1500 offered temporary bullish recovery. A […]
The morning session is over on this Tuesday, and it’s time for the Dukascopy Midday Snapshot. Euro/Dollar moved back towards the 1 15 level and a slight gain was posted at noon. Traded volume is average and neutral sentiment of the traders is 9% short. Gradual rise has provided some profit chances for bullish market […]
GOLD PRICES jumped to their highest Dollar price since mid-July in London trade on Tuesday, hitting $1236 per ounce as world stock markets fell after China’s main index erased most of yesterday’s stimulus-fueled rally. Gold prices came within 40 cents of $1240 per ounce – adding 6.8% from August’s plunge to start-2017 levels – […]
Here are the latest developments in global markets: FOREX: The dollar index was trading weaker by 0.10% while dollar/yen failed to pierce the 113 round level and instead dived to 112.30 (-0.43%), as the yield on 10-year Treasuries dropped by 5 basis points to 3.14%. Meanwhile the US President promised to give the middle class a 10% tax cut yesterday, intensifying his campaign ahead of […]
Overview: The USD/CAD pair has broken resistance at the level of 1.3000, which acts as support now. So, the pair has already formed minor support at 1.3000. The strong support is seen at the level of 1.2945 because it represents the weekly support. In the H1 time frame, the RSI and the moving average (100) […]
Overview: The AUD/USD pair faced resistance at the level of 0.7146, while minor resistance is seen at 0.7107. Support is found at the levels of 0.7043 and 0.6980. Also, it should be noted that a daily pivot point has already set at the level of 0.7107. Equally important, the AUD/USD pair is still moving around […]
Trading recommendations: According to the H4 time – frame, I found that BTC is still trading inside of the tranding range between the price $6.456 (resistance) and the price of $6.319. Since there is a buying climax in the background, my advice is to watch for a potential breakout of support to confirm a further […]
With the Royal Institution of Chartered Surveyors (RICS) reporting that prices are under more pressure now than at any time since the Brexit referendum and properties on estate agents books are near record lows, Ian Springett, chief executive officer (CEO) of house web portal OnTheMarket.com, suggests that while volumes have indeed not yet recovered to […]
Recently, Gold has been trading upwards. The price tested the level of $1,236.00. According to the H4 time – frame, I have found the finished downward correction (regular flat) in the background, which is a sign that buying looks preferable. I also found the breakout of the supply trendline and the Fibonacci expansion 100% ($1,234.30), […]
Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2936. Anyway, according to the H1 time – frame, I have found the fake breakout of yesterday’s low at the price of 1.2957, which is a sign that selling looks risky. I also found a hidden bullish divergence on the MACD […]
4-hour timeframe Technical details: The senior linear regression channel: direction – up. The younger linear regression channel: direction – sideways. Moving average (20; smoothed) – down. CCI: -128.0302 The currency pair GBP / USD continues to fall down. As part of a small upward correction, the pair could not even work out the moving average […]
4-hour timeframe Technical details: The senior linear regression channel: direction – sideways. The younger linear regression channel: direction – down. Moving average (20; smoothed) – down. CCI: -110.9747 The EUR / USD instrument on Tuesday, October 23, continues its downward movement after the price rebounds from the moving average line. As we have said, the […]
To open long positions on EUR / USD, you need: The political crisis of the EU due to a sharp change in the course of Italy puts pressure on the euro, which returned to the lows of last week. The White House is also here with its pressure on duties and trade agreements. At the […]
This is the Dukascopy Spike Controller for Tuesday with a look at the benchmark interbank price stats. Euro/Dollar’s long term average spread is point 28 pips and both of the sides were 1.1 pips apart during the past 4 hours. The pair has moved South of the 1 15 level to decline by a total […]
To open long positions on GBP / USD, you need: Pound buyers will try to return to the resistance level of 1.2965 in the first half of the day, and only fixing on it will allow us to expect a larger upward correction, which will be limited by the resistance level of 1.3007 and the […]
US stock indexes started the week in the red zone, corporate reports of most companies show a drop in quarterly earnings. Partly negative was stopped by good news from China, in particular, after the statement by the head of the People’s Bank of China that the regulator would take measures to support the economy, and […]
4h A new bearish divergence at the CCI indicator allowed the EUR / USD currency pair to make a U-turn in favor of the US currency and consolidation below the correction level of 61.8% – 1.1497. As a result, on October 23, the process of falling can be continued in the direction of the next […]
4h On the 4-hour chart, the GBP / USD currency pair quotes from the correction level of 23.6% – 1.3067 with a reversal in favor of the American dollar. As a result, the fall in quotations resumed in the direction of the correction level of 0.0% – 1.2662. The ripening divergences today are not observed […]
Growing tensions in world markets remain the most important factor that threatens the current fragile stability in financial markets. Given the growth of political risks in the United States in anticipation of congressional elections in November, the debt problems in Italy, which have worsened recently and put pressure on the single European currency, and all […]
Wave pattern graphics H4: The perspective trend direction on the cross chart can be traced from April 17th. The wave is rising, a correction has been forming in it in recent months. Wave pattern graphics H1: The bearish wave of August 28 reached a zone of potential reversal. The wave structure looks complete. Wave pattern […]
Wave pattern graphics H4: The last wave of this scale took the place of a downward correction in the bullish wave D1. Wave pattern graphics H1: The high wave level of the price rise that began on September 21 indicates its potential transition to a larger scale of movement. Wave pattern graphics M15: The rising […]
EUR / USD The beginning of the trading week was very active. The euro was quickly marked in the target range of 1.1544 / 74 and, being delayed by the resistance of the balance lines on the daily and four-hour charts, also quickly began to fall. The final decrease was 48 points. On the daily […]
GBP / USD The British pound lost 104 points on Monday on rumors about the possible resignation of Prime Minister Theresa May. On the daily chart, the price fixed under the red indicator line of balance, which markedly shifted the emphasis to a further decrease in the trend. But to reduce at least to the […]
USD / JPY The Japanese yen makes all efforts in the fight against technical resistance, but external forces do not allow it to do so. Yesterday, the price tried to get above the trend line of the price channel and the Kruzenshtern trend indicator line on the daily chart. This morning, the price was again […]
Dear colleagues. For the Euro / Dollar currency pair, we clarified the targets for the ascending structure of October 16, which we consider as a medium-term one. For the currency pair Pound / Dollar, we continue to follow the downward cycle of October 12 as the main trend. For the currency pair Dollar / Franc, […]
Gold price continues to trade inside the short-term triangle pattern. Price pulled back yesterday towards the lower triangle boundary and support was held. I expect the triangle to break to the upside and push prices towards $1,245-50 where I would like to take profits. Black rectangle – major support area Green lines – short-term triangle […]
Find out how the interbank sentiment compares with the technicals at 8 AM GMT by watching the Dukascopy Trading Signals. Euro/Dollar’s technical signals are mostly neutral in the 1 and 4-hour charts. 5 studies point South in the daily range, which is in line with the 30% short interbank sentiment. The Cable’s hourly models are […]
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