Resistance at 129.11 was no real match for the rally from 127.85. This break above 129.11 was the first strong indication that red wave (2) had completed and red wave (3) towards 136.50 is taking over. The final confirmation that red wave (3) is in motion is seen in form of a break above resistance […]
“Bullish” Europe, “bearish” United States – this is how you can characterize the current conjuncture of the oil market. While in the US, the end of the auto season and the departure of the refinery for maintenance are putting pressure on the WTI’s futures quotes, Brent finds support in anticipation of the entry into force […]
The pound continues to fluctuate in a wide price range, reacting to the contradictory fundamental background. Optimism is replaced by uncertainty and the usual pessimism, and the price of the GBP/USD follows the mood of traders. Topic number 1 is still Brexit, so the corresponding news flow forms the agenda. It should be noted that […]
http://my.elliottwave.com/resources/free/market-myths-exposed.pdf?tcn=ytv1703 The U.S. economy added 201,000 jobs in August, more than expected. Wages also jumped. Is this bullish for stocks? For answers, let’s look at 3 examples from the stock market’s recent history. http://www.elliottwave.com/r.asp?rcn=ytvideos1403&url=http://www2.elliottwave.com/club/signuplt/newsletters.aspx Learn How the Wave Principle Can Improve Your Trading Related Posts:Market Comment – Stocks climb after sizzling US jobs report April […]
• NZDCAD broke pivotal support level 0.8580• Further losses are likely NZDCAD today broke sharply below the pivotal support level 0.8580 (which has been reversing the price from the middle of August, as can be seen from the daily NZDCAD chart below). The breakout of the support level 0.8580 continues the active short-term impulse wave […]
• Brent Crude Oil reversed from support area • Further gains are likely Brent Crude Oil recently reversed up strongly from the support area lying between the pivotal support level 7550.00 (former resistance from July) and the 38.2% Fibonacci correction of the previous impulse wave (1). The upward reversal from this support area started the […]
Dear colleagues. For the EUR / USD pair, the price so far forms a local downward structure from September 6, the level of 1.1601 is the key support. For the GBP / USD pair, we follow the formation of the upward structure from September 5, we continue to wait for the continuation of the upward […]
Eurozone The indicator of Sentix investor confidence declined in September to 12p against 14.7p in August, which was significantly worse than the experts’ expectations. Europe is largely affected by the pressures on emerging markets, as it jeopardizes trade and production due to a decline in export capacity. There was also the worsening of the political […]
4-hour timeframe Amplitude of the last 5 days (high-low): 79p – 65p – 196p – 66p – 120p. The average amplitude for the last 5 days: 105p (98p). The British pound sterling on Monday, September 10, has grown quite strongly against the US currency. Although it will be more correct to say that the US […]
4-hour timeframe Amplitude of the last 5 days (high-low): 39p – 92p – 90p – 53p – 98p. The average amplitude for the last 5 days: 74p (76p). The currency pair EUR / USD on Monday, September 10, began an upward correction. In the White House scandal erupts because of the article published in Times, […]
EUR/JPY has been quite volatile at the edge of the resistance area of 129.00-50 from where certain bearish pressure can be observed currently. Amid recent mixed economic data from Japan, certain gain on the EUR side has been observed that is expected to be short-lived as JPY is expected to lead the way again in […]
Here are the potential market movers scheduled for publication on Wednesday, the 12th of September. Euro Zone Industrial Production for July opens this agenda at 9 o’clock in the morning. Production declined by point 7% in June after jumping by 1.4% in May. US Producer Price Index for August then follows at a half past […]
GOLD PRICES fell back below $1190 and silver tumbled through $14 per ounce for the first time since January 2016 on Tuesday in London as the Indian Rupee – currency of the No.2 precious-metals consumer nation – fell to fresh all-time lows versus the US Dollar. European stock markets fell for the 7th time […]
The EU 50 stock index has declined considerably after touching the 3460 resistance level, recording two straight bearish weeks. On Friday, the price posted a five-month low of 3274.70, while it is currently not far above that nadir. The momentum indicators are supportive of the bearish picture, with the RSI standing below the threshold of 50 and approaching the 30 […]
4-hour timeframe Technical data: Senior channel of linear regression: direction – down. The younger channel of linear regression: the direction is up. The moving average (20; flattened) is up. CCI: 173.3570 On September 10, the GBP / USD currency pair rose against the US currency. There were several reasons for this. The first is a […]
GBP/USD has been quite bullish and volatile recently which lead the price to reside and reject from the edge of 1.3050 area. USD has been the dominant currency in the pair earlier but despite the positive employment reports published recently, USD could not sustain the bearish pressure it had over GBP in the process. Yesterday, […]
Recently, the GBP/USD has been trading sideways at the price of 1.3018. Anyway, I found the fake breakout of the 2-week high at the price of 1.3042 (strong resistance), which is a sign that buying looks risky. I also found a hidden bearish divergence on the MACD oscillator and breakout of the support trendline, which […]
Recently, the GBP/USD pair has been trading sideways at the price of 1.3018. Anyway, I found a fake breakout of the 2-week high at the price of 1.3042 (strong resistance), which is a sign that buying looks risky. I also found a hidden bearish divergence on the MACD oscillator and breakout of the support trendline, […]
The recent bearish movement of the GBP/USD has shown signs of weakness since September 5 when an ascending bottom was established around 1.2800 The GBP/USD pair is currently testing the depicted downtrend line which comes to meet the pair around 1.3025-1.3090. This price zone (1.3025-1.3090) corresponds to 50% and 61.8% Fibonacci levels where evident bearish […]
The EUR/USD pair is currently trapped between the depicted technical levels (1.1750 – 1.1500). Breakout movement should be anticipated. The price zone of 1.1520-1.1420 stands as a prominent demand zone to be watched for bullish rejection and possible bullish pullbacks. Bearish breakdown of 1.1520 is needed to allow further bearish decline towards 1.1420. Next bearish […]
In April, bearish breakdown of 0.7220-0.7170 (lower limit of the consolidation range) allowed quick bearish decline towards 0.6700-0.6800 where narrow ranged consolidation range was established. On July 7, evident bullish rejection pushed the NZD/USD pair above 0.6820 temporarily. However, lack of bullish momentum made the bulls fail to maintain enough bullish momentum above 0.6700. On […]
It’s 12 O’clock GMT on this Tuesday and time for the Midday Snapshot where we’ll assess the performance of the market players. Euro/Dollar has seen its trend change and the pair was slightly in the red at noon. Trading has been active, volume is extremely high and neutral sentiment is leaning towards the long side […]
Here are the latest developments in global markets: FOREX: An upbeat employment report in the UK helped pound/dollar to briefly rally toward a fresh five-week high of 1.3086 during the early European session as the data showed that average weekly earnings picked up speed to 2.6% y/y in July, surpassing the forecast of 2.4%. Excluding bonuses, British wages recorded a stronger […]
In the 2016 presidential election, social media played a big role in who the voters were supporting. After it came out that social media was riddled with fake accounts and bots posting false information, Congress wants to prevent the same thing happening in the midterms. That’s why Google, Twitter and Facebook have been summoned to […]
This is the Dukascopy Spike Controller for Tuesday, where we take a closer look at the benchmark interbank price stats. Euro/Dollar’s daily average spread is point 31 pips and maximum separation has been 1 and a half pips. The pair gained a total of point 65% or 75 pips to hit the daily high of […]
The Gold price remains inside the bearish channel. Gold is in a consolidation stage relieving some oversold conditions. It is most probable that the entire decline from $1,365 is not yet finished and we should expect one more leg lower towards $1,100. Blue lines – bearish channel So far the Gold price action has shown […]
EUR/USD has moved back above 1.16-1.1620 towards major short-term resistance at 1.1660 but sellers appeared once again and are putting pressure on the pair. Another rejection at 1.1660 is not a bullish sign. On the other hand, as long as bulls respect and defend the 1.1540 neckline support they are safe. A break below the […]
Morning Report: 07.00 London The British pound remains strong after turning on the latest words from Michel Barnier that gave hope of a Brexit deal by November. It continues to be clear where the balance of power lies with the pound leaping yesterday on the positive ascent from the EU side. The GBP/JPY is up […]
In 2016, Donald Trump ran the most unconventional campaigns in recent memory. He campaigned mostly on immigration and trade. On immigration, he promised to build a wall between the US and Mexico and to ban refugees. On trade, he ridiculed the United States for the previous trade deals. He called NAFTA the worst trade deal […]
Mexico is a country with a population of more than 127 million people and a GDP of slightly above the $1.1 trillion. The country’s economy has continued to improve after the country entered into a trade pact with the United States and Canada. Today, the US is the biggest market for Mexican goods. The total […]
