West Texas Intermediate (WTI) crude oil futures have been moving sideways since the bounce off the 68.50 resistance level, which overlaps with the 38.2% Fibonacci retracement level of the downleg from 75.24 to 64.40. In the short-term, the RSI indicator is pointing upwards in the negative zone, while the blue %K line of the stochastic […]
Here’s how the interbank compares with technicals at 8 AM GMT on this Tuesday. Euro/Dollar’s 1 and 4-hour charts have mostly green signals, but daily range brings 5 neutral indicators. Interbank sentiment is bearish at close to 18% short. Pound/Dollar has green prompts across all three time ranges, but the 15% short interbank points in […]
Michael Barnier, the EU’s top negotiator on Brexit, called a reaching of the agreement on the deal within next 6-8 weeks realistic. This news supported the growth of the British currency, returning the sterling above 1.3040 of the dollar, to the highs since the beginning of August. The reaching of the agreement will reduce uncertainty […]
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand howCFDs work and whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and […]
Here are the latest developments in global markets: FOREX: The US dollar index – which measures the greenback’s performance against a basket of six major currencies – is down by 0.12% on Tuesday, extending losses from the previous session. Sterling spiked higher once again, following encouraging comments from the EU’s chief Brexit negotiator that reaching a deal […]
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication […]
GBPUSD closed the day slightly above the 50-day simple moving average on Monday for the first time since mid-April and continued to extend higher above 1-month highs in the following session. In the short-term, the market could maintain its positive momentum as the RSI gains ground above its 50-neutral mark and the red Tenkan-sen line holds above […]
On the currency market, the JPY is losing to USD just above 111.40 level after the reports that the Japanese processor manufacturer Renesas intends to buy for USD 6.7 billion competitors from the US IDT (potential demand for USD / JPY). Among other currencies, the strongest was GBP, which is all the time supported by […]
The European Commission will conclude this year’s regulatory assessment regarding the management of cryptocurrency resources. Speaking at a press conference following the meeting of the Economic and Financial Council, Valdis Dombrovskis, Vice-President of the European Commission, said that member states support changes in the regulations governing the activity of the cryptocurrency industry in the economic […]
EUR/NZD keeps making headway towards the sub-target at 1.7820. Ideally, this resistance will only make a temporary top for the next swing higher towards the more important resistance at 1.8369. Support is now seen at 1.7668 and if a break below here is seen, then a corrective decline closer to support at 1.7605 could be […]
The corrective decline in red wave (2) seems to have bottomed just above the 50% corrective target at 127.60. The following rally looks nice and strong and has already tested short-term important resistance at 129.11. A clear break above this resistance will confirm that red wave (2) is complete and red wave (3) is taking […]
GBP/USD is testing its resistance at 1.3033 (100% & 61.8% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal swing high resistance) where a reversal to its support at 1.2924 (50% Fibonacci retracement, horizontal swing low support) is expected. Stochastic (89, 5, 3) has reversed off near its resistance at 98% where a corresponding drop is […]
EUR/GBP is approaching its support at 0.8891 (100% & 61.8%% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where price is expected to bounce up to its resistance at 0.8950 (38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 4.4% where a corresponding bounce is expected. EUR/GBP is testing […]
On Monday, in my morning review, I said that the US is preparing new trade tariffs against China. The Ministry of Foreign Affairs of China did not delay its response, saying that it will take retaliatory measures if the United States will impose additional duties on Chinese imports The official representative of the Ministry of […]
The unexpected price jump of the euro/dollar pair in the afternoon is primarily due to the news on Brexit. Brexit’s theme triggers high volatility for the third consecutive week. The main negotiator from the EU Michel Barnier again and again gives optimism to traders, increasing the probability of concluding a final deal between London and […]
The conciliatory rhetoric of Michel Barnier and the strong statistics on Britain’s GDP for May-July allowed the pound to seriously impede the US dollar gaining momentum. The fastest growth in the average wage in the US since 2009 has increased the likelihood of overclocking inflation and aggressive monetary restriction of the Fed, which inspired the […]
The Australian dollar at the end of last week updated more than two-year price minimum. For the last time, the pair AUD / USD was at the base of the 71st figure in February 2016. Positive dynamics of growth of the Australian economy had a temporary support for the “Aussie” and on Friday, it completely […]
The British pound saw a recovery in recent days, aided by a more conciliatory tone by the EU on Brexit. While political and Brexit developments will remain front and center, having the capacity to spur sharp and unexpected movements in sterling, this week will also bring noteworthy updates on the economic front, starting with the […]
On Friday, the US Labour department released impressive jobs numbers. The numbers showed that more than 203K jobs were created in August, with the unemployment rate remaining at 3.9%. Perhaps, the biggest data was the improving wages. In August, wages grew by 0.4%, which was higher than the expected 0.3%. This was a huge improvement […]
When Cyril Ramaphosa was sworn in as the South African president, investors around the world were hopeful of the country. Money started to flow. They were impressed with the role of Ramaphosa to the liberation of the country. They were also impressed with his resume in business, which included the founding of one of the […]
CHFJPY has lost its positive momentum after the bounce off the six-month high of 115.30 on August 30. According to the RSI, the market could maintain negative momentum in the short-term as the indicator is negatively sloped above its neutral threshold of 50, though the fast Stochastics suggest that the market is moving towards the […]
GOLD PRICES fell further on Monday morning in London against a firm Dollar amid new China-US trade wrangling while anti-immigration nationalists gained votes in Sweden’s general election but lagged well behind the main parties, writes Steffen Grosshauser at BullionVault. The Krona rallied further from late August’s 9-year low versus the Euro and Stockholm’s OMX […]
Recently, the USD/JPY has been trading sideways at the price of 111.10. Anyway, according to the M30 time frame, I found that price is trading near the resistance level (Friday’s high) at the price of 111.24, which is a sign that buying looks risky. I also found strong supply in the background and overbought condition […]
Trading recommendations: According to the H1 time frame, I found a potential end of the upward correction (running flat ABC), which is a sign that buying looks risky. I also found a strong downward trend in the background and my advice is to watch for selling opportunities. The breakout of intraday support line will confirm […]
The recent bullish movement of the EUR/USD ceased to be dominant since August 28. Lack of enough bullish momentum is demonstrated on the chart so that recent movement has turned into sideways consolidations. Earlier Today, obvious bullish rejection was demonstrated around 1.1530. This was manifested in the bullish engulfing H1 candlestick as depicted on the […]
Recently, the GBP/USD has been trading sideways at the price of 1.2930. Anyway, according to the M30 time frame, I found a fake breakout of the Friday’s low at the price of 1.2907 in the background, which is a sign that selling looks risky. I also found that price broke the macd predicator line, which […]
• Cotton reversed from support area • Further gains are likely Cotton recently reversed up sharply from the support area lying between the pivotal support level 81.10 (which has been reversing the price from April), lower daily Bollinger Band and the 50% Fibonacci correction of the previous long-term upward impulse from last October. The upward […]
• EURNZD rising inside impulse wave 3 • Further gains are likely EURNZD continues to rise inside the accelerated impulse wave 3, which previously broke the resistance level 1.7475 (which reversed the previous sharp upward impulse waves (A) and (i), as can be seen below). The breakout of the resistance level 81.10 accelerated the active […]
We’re halfway through the first trading day of the week, so let’s take a look of the performance of the traders with the Midday Snapshot. Euro/Dollar gained 59 pips from the daily low to trade slightly in the green at noon. Traded volume is high and neutral sentiment of the traders is 6% short. Bears […]
