Gold price broke above the $1,205 resistance today and reached $1,212. Despite Dollar weakness, Gold price pulled back down towards $1,200. It is important to hold above $1,200 in the short-term. Important medium-term support at $1,190 needs also to hold for $1,220 to be achieved. Green lines – bearish channel Dark green line- support Red […]
Morning Report: 07.00 London The dollar index remains soft after US CPI came in below estimates and European central banks kept rate forecasts on track. The AUD/USD is higher again, extending the bounce off the 0.7100 level. The EUR/USD and GBP/USD are holding firm after yesterday’s rally, with the latter lagging slightly following Mark Carney’s […]
In line with the broad market consensus, the Bank of England (BoE) decided not to raise its main interest rate and keep it at 0.75%, which was unanimously adopted by the nine-member composition of the British Monetary Policy Council. However, the institution announced an increase in its forecasts for the gross domestic product (GDP), and […]
The Turkish Lira is experiencing dramatic moments recently. In connection with the rise in inflation to almost 18% and uncertainty regarding the future monetary policy of the country, its value against the US dollar has fallen by 40%. As it turns out, the Turks had the opportunity to strengthen their currency and took advantage of […]
Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.2700. Anyway, according to the M15 timeframe, I found that the price rejected from the resistance 2 (1.1694), which is a sign that buying looks very risky at this stage. I also found overbought conditions on the stochastic oscillator, which is […]
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3123. Anyway, according to the M15 time – frame, I found that buyers got exhausted near resistance 2 (1.3137), which is a sign that buying at this stage looks risky. I also found the overbought condition on the stochastic oscillator, which […]
• CHFJPY broke resistance area • Further gains are likely CHFJPY continues to rise after the earlier breakout of resistance area lying at the intersection of the key resistance level 115.00 (which has been reversing the price form August) and the 61.8% Fibonacci correction of the previous impulse wave (C) from February. The breakout of […]
• WTI reversed from resistance area • Further losses are likely WTI recently reversed down sharply from the resistance area located between the key resistance level 71.00 (which has been reversing the price form the middle of July), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous ABC correction (2) from July. […]
The US-Canada trade talks have heated up lately, with a deal by the end of this month looking increasingly more realistic. In such a case, the loonie could surge in relief as the NAFTA risk premium on the currency fades, with broader market risk appetite also receiving a boost. While there may be a few […]
GBPJPY staged a spectacular comeback after falling to its lowest since August 2017 of 139.88 in mid-August. The pair is currently trading more than 600 pips above the aforementioned nadir, having risen to a six-week high of 146.19 earlier on Thursday. The RSI continues heading higher, serving as a testament of the bullish momentum in […]
Trading recommendations: According to the H1 time – frame, I found that price broke the supply trendline in the background and the Ichimoku cloud, which is a sign that buyers are in control. I also found the rising upward trendline and successful rejection of the Tenkan-sen (yellow line), which is another sign of strenght. On […]
There are mostly US publications scheduled on this week’s final trading day, so let’s take a closer look. Euro zone Trade Balance for July opens this agenda at 9 AM. Seasonally adjusted surplus narrowed down slightly in June from May’s level of 16.9 billion Euros. Then there’s a high importance speech by the Bank of […]
GBPCAD has lost its positive momentum after the bounce off the medium-term descending trend line at 1.7185 on Monday. In the short-term, the market could retain the bearish structure as the MACD is flattening above the zero and trigger lines, while the stochastic oscillator is moving lower. Despite those signs, the 20-day simple moving average (SMA) […]
GOLD PRICES rose to 3-week highs against a weakening US Dollar on Thursday, trading up to $1209 per ounce in London’s wholesale bullion market as equities rose together with commodities and US Treasury bond prices. As the Dollar eased back – most notably versus emerging market currencies led by the Turkish Lira after a […]
Hong Kong is a special administrative region in China. It is known as one of the largest financial cities in the world. It has a population of about 8 million people and a GDP of $320 billion. The Hong Kong Stocks Exchange has a combined market capitalization of more than $1.2 trillion. The exchange is […]
Today will be a big day for the currencies market. This is because the ECB and BOE will deliver their interest rates decision. Shortly afterwards, the US will release the inflation and consumer confidence numbers. Therefore, we expect major moves in all the major currency pairs. BOE Bank of England will be the first to […]
It’s time for the Dukascopy Midday Snapshot, where we’ll see how traders have managed to work out the rate movements during the morning session on this Thursday. Euro/Dollar has been traded in a total range of just 34 pips and the pair sees only half of the monthly average funds. Neutral sentiment of the traders […]
Here are the latest developments in global markets: FOREX: The euro and the pound were in a quiet trade a few hours before the European Central Bank and the Bank of England make announcements on interest rates, with euro/dollar edging slightly down to 1.1610 (-0.13%) and pound/dollar consolidating around 1.3045. The Turkish central bank is also […]
Data released in the euro area in the first half of the day, slightly hurt the risky assets, as all the attention of traders and investors was focused on the report on producer prices in the US. The most attention is drawn to tomorrow’s results of the meetings of the central banks of England and […]
Morning Report: 07.00 London This morning, the US dollar remains off the pace after PPI came in well below estimates yesterday. Dollar pairs are generally enjoying strong gains, especially the AUD/USD which is making further gains after yesterday’s impressive rally. Australian employment change came in above estimates. The AUD/JPY is also performing well. Meanwhile, the […]
Dukascopy TV continues to target devious brokers by supplying you with the definitive benchmark spreads stats for this Thursday. Euro/Dollar’s long term average spread is point 35 and pips peak separation has been 3 and a half pips. The pair rose sharply yesterday as it gained point 67% or 78 pips to break through the […]
AUDJPY is rising for the fourth straight day, further distancing itself from last week’s near two-year nadir of 78.67. Earlier on Thursday, it hit a one-week high of 80.20. The RSI has turned higher after coming close to oversold levels, signaling a shift in momentum to the upside. The stochastics are also projecting a bullish […]
As China awaits President Trump’s next move in the ongoing trade war, economic indicators due on Friday at 02:00 GMT will provide the latest look at the strength of industrial output, retail sales and fixed-asset investment in the world’s second largest economy. While export growth has so far remained resilient in the face of higher […]
NZDUSD has finally reversed slightly to the upside in the short term following the rebound on the more than two-and-a-half-year low of 0.6500 on Monday. Momentum indicators in the 4-hour chart though are currently supporting that positive momentum is likely to strengthen. Specifically, the MACD is picking up speed near zero line and the RSI continues to hold above […]
To open long positions for EUR / USD pair, you need: In the first half of the day on Wednesday, buyers did not have enough strength to get above the resistance of 1.1605, which I paid attention to in my morning review. A breakthrough of level 1.1605 is necessary to maintain the upward trend, which […]
Overview: The market is still trading above the pivot point (0.9689). It continued to move downwards from the level of 0.9689 to the bottom around 0.9651. Today, the first resistance level is seen at 0.9728 followed by 0.9776, while daily support 1 is seen at 0.9651. The USD/CHF pair broke support which turned to strong […]
Wave picture of the H4 chart: The bearish wave of April 17 sets the main trend direction of the small scale chart of the pair. The price has reached the upper limit of the large support zone. The wave pattern of the H1 graph: Since August 15, a zigzag wave is forming upward. In the […]
Overview: As expected, the USD/CAD pair continues to move downwards from the areas of 1.2982 and 1.3088. Yesterday, the pair dropped from the level of 1.3088 to 1.2982. The level of 1.3088 coincides with a ratio of 50% Fibonacci on the H4 chart. Today, resistance is seen at the levels of 1.3041 and 1.3088. So, […]
These are the Duakscopy Daily Trading Signals for Thursday. Here’s how the intebank compares with the technicals at 8 AM GMT. Euro/Dollar’s hourly studies show mixed results, but both the mid and long term models are mostly neutral. Interbank sentiment is bearish at 18% short. Pound/Dollar’s 1 and 4-hour charts have 5 and 4 neutrals […]
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