Trend analysis (Fig. 1). On the weekly price chart, it will move up with the target of 1.3258, the upper fractal. Fig. 2 (weekly schedule). Comprehensive analysis: – Indicator analysis – down; – Fibonacci levels – neutral; – Volumes – up; – Candlestick analysis – up; – Trend analysis – up; – Bollinger lines – […]
The Canadian economy has done well this year, receiving support from the improving crude oil market. The announcement of a US, Mexico, and Canadian trade deal has also provided support for the Canadian economy. This is mostly because of the central role the United States plays in the Canadian economy. Every year, the country exports […]
Last week was a big one for the financial market in multiple fronts. In Europe, the European Union fumed about Italy’s budget proposal while the anticipated Brexit deal failed to yield any results. In the Middle East, Saudi Arabia continued to think about its response to the accusation about the killing of a journalist. In […]
On Friday, Canada’s statistics office showed that the country’s inflation numbers were lower in September compared to the estimates. In the month, the CPI numbers were at 2.2%, which was lower than the expected 2.8%. The retail sales as well fell. This happened ahead of the important interest rates decision by the Bank of Canada. […]
Euro buyers need a correction for a new wave of growth and a reversal of the trend. Eurozone current account balance has grown while sales in the secondary housing market of the United States declined again. The euro managed to rectify its position, which at the close of the day allowed the bears to capture […]
GOLD PRICES slipped Monday morning, dropping $12 per ounce below last week’s 2.5-month high as China’s stock market rallied at its fastest since 2015 on a raft of ‘support’ promised by Beijing, writes Atsuko Whitehouse at BullionVault. Europe and other Asian equity markets rose less steeply, while gold prices traded down to $1221.50 per […]
EURGBP has advanced considerably today and is set to complete the third consecutive green day, recording a new two-week high near the 0.8850 resistance level. Short-term momentum indicators are supporting this bullish mood. The RSI is already above its neutral 50 line and is pointing higher, detecting accelerating upside speed. Moreover, the MACD is within negative […]
It’s 12 o’clock on this Monday, so let’s see how successful it has been so far for FX traders. Euro/Dollar was heading up for hours, but a following decline has wiped out all of the gains. Traded volume is low and neutral sentiment of the traders is just 6% long. Both trends have lasted for […]
Wave pattern of the H4 chart: As part of a larger daily wave on the graph since July 19, a downward correction is formed. In its appearance, the wave structure is more like a stretched plane. The first 2 parts (A-B) are completely formed. Wave pattern of the H1 chart: In the structure of the […]
GBP / USD pair On Friday, on a positive account this time, rumors about Brexit helped the British pound to grow by 52 points. As reported, British Prime Minister Theresa May is ready to make concessions to the EU in order to conclude a trade agreement. Actually, the dollar became cheaper throughout the market against […]
Here are the latest developments in global markets: FOREX: Sterling was declining by 0.25% against the US dollar on Monday as uncertainties around the Irish border weighed on hopes that a Brexit deal is close ahead of the UK Prime Minister’s speech in the Parliament. Pound/yen was fairly steady, while euro/pound increased by 0.23%. Euro/dollar reversed earlier gains […]
Here are the potential FX market movers scheduled for publication on Tuesday, the 23rd of October. German Producer Price Index for September opens this relatively slow agenda at 6 o’clock in the morning. Prices increased by point 3% month on month in August to stand 3.1% up from a year ago level. UK CBI Industrial […]
Wave counting analysis: During the trading on Friday, the EUR / USD currency pair gained about 65 basis points. Thus, the estimated first wave in the future from the downtrend of the trend has completed its construction. If the current wave counting is correct, then the increase in quotations will continue for some time, after […]
To open long positions on GBP / USD, you need: Today, it is best to count on long positions in the pound after the formation of a false breakdown in the middle of the channel of 1.3052, with a rebound from the 30-day moving average. The main task of buyers will be a breakthrough and […]
To open long positions on EUR / USD, you need: For euro buyers, in order to maintain the upward trend, it is necessary to break and consolidate above the resistance level of 1.1535, which will allow us to expect continued growth, reaching last week’s highs in the area of 1.1573 and 1.1605, where I recommend […]
4-hour timeframe Technical details: The senior linear regression channel: direction – up. The younger linear regression channel: direction – up. Moving average (20; smoothed) – down. CCI: -49.5259 The GBP / USD currency pair has also started to adjust, but the MA has not yet worked. On the night of Sunday to Monday, quite important […]
4-hour timeframe Technical details: The senior linear regression channel: direction – sideways. The younger linear regression channel: direction – down. Moving average (20; smoothed) – sideways. CCI: -12.3255 The EUR / USD instrument on Monday, October 22, corrected to a moving average line. Now, traders will expect either a rebound from the MA or overcoming […]
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Let’s find out if there have been any significant spread increases so far this week. Euro/Dollar’s daily average spread is point 32 pips and both of the sides were 2.8 pips apart during the past 4 hours. The pair rose sharply by point 45% or 52 pips, but a following slide wiped out most of […]
4h The double bullish divergence of the MACD and CCI indicators allowed the pair to make a U-turn in favor of the European currency and consolidation above the correction level of 61.8% – 1.1497. As a result, the growth process can be continued on October 22 in the direction of the correctional level of 50.0% […]
4h On the 4-hour chart, the GBP / USD quotes consolidated below the correction level of 23.6% – 1.3067, but after the formation of bullish divergence, a reversal was made in favor of the British currency and a return to the Fibo level of 23.6%. Fixing the rate on October 22 above the correction level […]
Uncertainty in financial markets has led to a marked increase in volatility, which affects all financial markets without exception. The factors influencing this are still strong and significant. These influential factors include the continuation of the interest rate increase by the US Federal Reserve, the trade conflict between Washington and Beijing, as well as the […]
Dear colleagues. For the Euro / Dollar currency pair, the price is in the area of the initial conditions for the downward movement of October 16 and we expect the continuation of the downward movement after the breakdown of 1.1475. For the currency pair Pound / Dollar, the price is in the correction zone and […]
Gold prices posted significant losses on Monday, diving below the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, which are ready to post a bearish crossover in the near future. The price holds in a neutral bias after the jump above of the sideways channel of 1180.60 – 1212.50, while the technical indicators are confirming the […]
EUR / USD pair As expected, investors began to take profits on Friday in order to rest with peace of mind at the weekend and look more closely at the strategies of the new week. The economic data is quite consistent with such plans. The eurozone’s balance of payments in the August estimate was 23.9 […]
AUD / USD pair In general, difficulties with the Australian dollar with the market decline are associated with a very strong support for the trend line of the daily price channel, as it turned out. For seven sessions, the price cannot move below it. This morning, the “Australian” once again tried to hit her but […]
After testing the support line of 1.1438 (white thin line) on the weekly chart, the price went up on Friday and this week, the upward movement will continue (the third point of contact of the support line gives a high probability of top work). Trend analysis (Fig. 1). To continue the upward trend, the price […]
Over the past week, the pair has formed a medium-term accumulation zone within the main support of the NKZ 1/2. While the instrument is trading above the level of 0.7091, the upward movement remains a priority in the medium term. At the end of last week, the pair twice tested the main zone of support […]
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These are the Dukascopy Daily Trading Signals for Monday. Here’s how the technicals compare with the interbank at 8 AM GMT. Euro/dollar’s short and mid term indicators are mostly green. 4 studies are neutral in the daily range. Interbank sentiment is bearish at more than 21% short. Pound/Dollar has mostly neutral signals in both the […]
