EUR/USD has rallied above 1.16 and is now trading right below it. Price has reversed to the upside just above our target area of 1.1420-1.14. Price has so far surpassed the 38% Fibonacci retracement of the decline. A pullback towards 1.1550 is probable before more upside at least towards 1.1670. Short-term support is at 1.1550-1.1530. […]
On Friday, the 12th of October, the event calendar is light in important data releases, but the market participants should pay attention to German CPI data, Eurozone Industrial Production data and US UoM Consumer Sentiment data. There are two spechees scheduled for today from FOMC Member Charles Evans and FOMC Member Raphael W. Bostic. EUR/USD […]
Vincenzo Longo, IG Italy analyst, tells Victoria Scholar that Italian BTP yields are likely to push on higher amid the standoff between the European Commission and Italy’s coalition government. Meanwhile, Vincenzo says that next May’s European parliamentary elections will be important and could ultimately lead to snap elections in Italy, with the League aiming to […]
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USDCAD has eased back down again after finding resistance at the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3385, around 1.3072. The price is paring some of the previous days strong gains and remains in a short-term bearish bias, despite that it stands above the 20- and 40-simple moving averages (SMAs) in the daily […]
During a short speech for journalists, Donald Trump said: “They are very restrictive. I think the Fed is crazy. ” It might seem to be a slip, because lowering the trust in the central bank by the executive can have negative consequences in the future. In addition, the Federal Reserve does not behave erratically. Nevertheless, […]
The RBA has published the latest report on the financial stability of the country. In general, it can be said that the central bank is not afraid of internal conditions, but more about the impact of global events on the economy. The country is developing at a good pace, although there has been a slowdown […]
The Securities and Exchange Commission (SEC) asks for comments on nine different proposals for changes to the ETF bitcoin rules, which are currently under review after they were initially rejected. The SEC has previously rejected the proposals – submitted by ProShares, GraniteShares and Direxion and NYSE Arca or Cboe market suppliers – while also highlighting […]
When the European market opens, some economic data will be released such as Industrial Production m/m and German Final CPI m/m. The US will release a batch of economic reports too such as Federal Budget Balance, Prelim UoM Inflation Expectations, Prelim UoM Consumer Sentiment, and Import Prices m/m. So, amid the reports, EUR/USD will move […]
In Asia, Japan will release the Tertiary Industry Activity m/m and M2 Money Stock y/y. The US will provide a batch of economic reports such as Federal Budget Balance, Prelim UoM Inflation Expectations, Prelim UoM Consumer Sentiment, and Import Prices m/m. So, there is a probability the USD/JPY will move with low to medium volatility […]
Morning Report: 07.00 London The US dollar remains weak and is testing the October lows. US Stock markets have continued their descent, while US CPI came in below estimates yesterday. The GBP/USD is rallying once again, remaining within sight of the 1.3250 highs on building Brexit optimism. The euro continues to recover, building for its […]
https://pepperstone.com/en/forex-news/market-review -JPY and Yuan weaken. -INR and ZAR gain against the USD. -Dollar index is testing at 95. -G20 and IMF meetings ongoing in Bali. -China’s trade surplus shows strong growth. -Weekly performance of the US 500 stocks. The overnight changes and price moves to be aware of by Pepperstone’s Market Analyst, Darren Sinden. New […]
To open long positions on GBP/USD pair, you need: Buyers managed to stay above the support level of 1.3184, which I mentioned in the morning review, and the comments of the Governor of the Bank of England allowed traders to increase their long positions. The main task for the second half of the day is […]
Wave counting analysis: In the course of Wednesday trading, the EUR/USD pair rose by 30 bp, thus, this confirms the transition to the construction of an upward wave b in the framework of the supposedly 3-wave downward structure. If this is true, then the increase in quotations will continue with targets located near the estimated […]
Wave counting analysis: In the course of trading on October 10, the GBP / USD pair gained about 45 bp or more and continues to build estimating the 5th wave of the upward trend section with the first goal located near the 100.0% Fibonacci level. Despite the absence of a positive news background for the […]
Wave pattern on the H4 chart: The last wave of this scale was completed in mid-August at the upper boundary of the powerful support zone. Wave pattern on the H1 chart: A rising wave from August 15 with high potential develops. Over time, the entire movement will move to a higher timeframe. In the wave […]
USD / JPY pair On Wednesday, Japan came out optimistic data. The volume of orders for engineering equipment increased by 2.8% in September after the August increase by 5.1%. The base index of orders for engineering products added 6.8% against the forecast of -3.9%. The yen broke away from supporting the trend line by more […]
EUR / USD pair The collapse of the US stock market was the main event yesterday. The Dow Jones index lost 3.15% and the S & P500 broad market index collapsed 3.29%, as well as, the Nasdaq technology sector dropped by 4.08%. There were no obvious reasons for such a collapse but it seems that […]
Data on the growth of US inflation were frankly weak. All components of today’s release were in the red zone, showing a systemic decline. CPI is slowly sliding down after reaching its peak in July (2.9% yoy), reaching 2.3% in September. On the eve of the release, experts predicted a slowdown in inflation indicators, but […]
4-hour timeframe The amplitude of the last 5 days (high-low): 79п – 66п – 70п – 71p – 65п. The average amplitude over the past 5 days: 70P (83P). On Thursday, October 11, the main topic of discussion is the collapse of the US stock market. However, we believe that the collapse of the dollar […]
4-hour timeframe The amplitude of the last 5 days (high-low): 120п – 119п – 105p – 117п – 79п. The average amplitude over the past 5 days: 108p (112p). The British pound also continues its upward movement. In addition to all the reasons for the fall of the US dollar listed in the EUR/USD article, […]
The European currency maintains its gradual growth amid fears related to the US stock market, which also puts pressure on the US dollar. The minutes of the ECB Today’s report of the European Central Bank since the last meeting on monetary policy supported the European currency, even though it was about debt problems. In the […]
Related Posts:What to expect for the dollar next week? April 7, 2024 The dollar missed plenty of opportunities to strengthen against the…What to expect for the pound next week? April 7, 2024 The pound remains within the horizontal part of the trend,…What to expect for the euro next week? April 7, 2024 We just saw […]
This week, the medium-term accumulation zone is being formed, where the main goal of growth is the upper limit of the weekly short-term at 0.7180. Work within the medium-term accumulation zone is the basis for building today’s trading plan. Purchases from the lower border of the NKZ 1/2 0.7065 are the most profitable, as the […]
Yesterday, an upward reversal pattern was implemented, and the rate reached the upper limit of the weekly short-term of 1.3195. The implementation of the priority upward pattern made it possible to close some of the purchases opened at the previous day’s trading session. The rest can be taken to breakeven and held until the test […]
Bitcoin impulsively sank below $6,500 area which was quite a bit of a surprise for the bulls. As the price is residing above $6,000 area currently, the bullish bias is still valid in the market. However, after the impulsive crash below $6,500 area, the price is currently correcting itself with no sign of any Bullish […]
USD/CHF has been quite impressive with the recent bullish momentum which lead the price to reside above 0.9850 area with a daily close. The price dipped a bit lower this week due to worsethan-expected economic reports recently in the US which dented the overall gains of USD against CHF. After the recent rate hike from […]
JPMorgan Chase and Citigroup, the largest and fourth-largest US banks by market capitalization correspondingly, will be among corporations kicking off the Q3 earnings season for big financials. The two will be releasing their quarterly results before Wall Street’s opening bell on Friday. Analysts’ consensus recommendation for both is “buy”, which matches the average recommendation for the […]
AUD/JPY moved higher quite impulsively today despite an impulsive bearish daily close recently below 80.50 area. AUD strengthened against JPY thanks to positive economic data and events, held today. On the other hand, JPY is struggling to gain momentum despite upbeat reports as well. AUD was being dominated by JPY since the price bounced back […]
AUD/USD has been quite indecisive and volatile after breaking below 0.7150 area with a daily close recently. USD has been the dominant currency in the pair since the recent rate hike. USD is expected to gain further momentum against AUD in the long run though certain AUD pressure may be observed in the coming days. […]
