GBP/USD Expectations for the Bank of England’s decision on monetary policy that was held on Thursday kept the British pound from noticeable movements on Wednesday. Technically, the price is ready to decline, this is indicated by the consolidation of the price under the trend line of the Kruzenshtern and even if it is weak, but […]
Analysis of wave counting: During the trades on Wednesday, the currency pair EUR / USD fell by 30 percentage points, to the lower forming a tapering corridor of the line. Most likely, today, we are expected to test this line for strength and with a high probability of a breakthrough. If this assumption is true, […]
GBP / USD The pair is trying to get rid of the daily bullish advantage and continue the decline. But a slight decrease, within the limits of correction, can hardly help the bears now. They need to update the correction minimum (1.2957) and secure the fastening below. All the rest will contribute to consolidation, during […]
4h The pair GBP / USD on the 4-hour chart reversed in favor of the US dollar and began to fall in the direction of the corrective level of 200.0% – 1.3047. Brewing divergences on August 2 are not observed in any indicator. The fall of the pair’s rate from the Fibo level of 200.0% […]
4-hour timeframe Technical data: The senior channel of linear regression: direction – down. The younger channel of linear regression: direction – down. Moving average (20, smoothed) – down. СCI: -75.7375 The currency pair EUR / USD on August 1 continued a slight downward movement, as indicated by the blue bars of the indicator Heikin Ashi. […]
• EURCAD broke pivotal support level 1.5140 • Further losses are likely EURCAD continues to fall after the recent breakout of the pivotal support level 1.5140 (which reversed the price in the middle of June, as can be seen from the daily EURCAD chart below). The breakout of the support level 1.5140 should accelerate the […]
• Wheat broke resistance level 555.00 • Further gains are likely Wheat continues to rise after the recent breakout of the key resistance level 555.00 (which stopped the sharp upward impulse wave (5) in May and also at the end of July). The breakout of the resistance level 555.00 accelerated the active short-term impulse wave […]
EUR / USD The failure of the bulls gave a new chance to the bears. Will they be able to leave the zone of uncertainty and weekly consolidation this time? A way to understand this and get rid of the attraction, led by a week-long Tenkan (1.1680) and a daytime cross, the old one, you […]
Fed Chairman Jerome Powell promised next year to hold a press conference after each meeting of the regulator. But this year, as in all the previous ones, the chairman of the Fed will talk with journalists only four times. As a rule, decisions to raise or lower rates were made at those meetings after which […]
Australian retail sales data for June will be hitting the markets on Friday at 0130 GMT, in what is perhaps the last important release before the Reserve Bank of Australia concludes a meeting on monetary policy next week. Meanwhile, Australia seems to be getting caught in the crosshairs of the trade dispute between the US […]
After the highly anticipated Bank of England decision on Thursday, the focus for sterling at the end of the week will turn to the services PMI out of the United Kingdom on Friday at 08:30 GMT. The IHS Markit/CIPS services PMI is expected to highlight the BoE’s dilemma, with activity in the sector expected to […]
EURGBP has advanced considerably over the last few hours and jumped above the 0.8900 handle. Price action is at the momentum taking place above the 20- and 40-simple moving averages in the daily timeframe. The technical picture supports that the rebound on 0.8865 is likely to continue in the short-term. From the technical point of […]
GOLD BARS slipped near fresh multi-month price lows in London trade Thursday as the Bank of England raised UK interest rates and new data showed the weakest 6-month demand worldwide since the global economic slump of 2009. Falling against all most currencies bar the Euro and Australian Dollar, gold bullion dropped to $1214 per […]
It’s time once again for the Dukascopy Midday Snapshot, where we take a look at trader performance over the 12 hours to midday. Euro/Dollar has declined by 67 pips to hit the daily low just a pip above the 1 16 level. Turnover is low and sentiment of the traders is neutral, but long positions […]
A batch of Services PMIs and US employment report are out on this week’s final trading day, so let’s take a closer look. Swiss Consumer Price Index for July sets off the data run at a quarter past 7 in the morning. Monthly prices were unchanged in June, but they were 1.1% up from a […]
What did the Fed say on August 1 (text of the statement): Since the meeting of the Federal Open Market Committee in June, the information received indicates that the labor market continued to grow and that economic activity has developed at a strong pace. The growth in the number of jobs was strong on average […]
Overview: The NZD/USD pair continues to trade downwards from the levels of 0.6807/0.6840 (bearish channel). The pair has dropped from the level of 0.6807 to trade around the 0.6824 level. This level of 0.6807 coincides with the minor resistance today. Today, the first resistance levels are seen at 0.6807/0.8640 followed by 0.6880, while daily support […]
Overview: The USD/CHF pair is still set above the pivot point of the price 0.9857 since days. The USD/CHF pair faced resistance at the level of 0.9943. The strong resistance has been already formed at the level of 0.9943 and the pair is likely to try to approach it in order to test it again. […]
EUR/GBP has been pushing higher despite the volatile momentum it has been struggling for a few months now. Both currencies in the pair are struggling fundamentally and technically which is a result of indecisive actions taken fundamentally and by the market participants. Ahead of the GBP Official Bank Rate hike from 0.50% to 0.75%, the […]
Here the latest developments in global markets: FOREX: The US dollar index, which measures the greenback against a basket of six currencies, advanced by 0.39% and touched a two-week high near 95.00 on Thursday. Dollar/yen was weaker on Thursday at 111.49 (-0.20%) despite the Fed reiterating that US economic growth has been rising strongly and the job market has […]
Recently, the Gold has been trading downwards. The price tested the level of $1,215.40. Anyway, according to the M30 time frame, I found a potential end of the downward movement. The price stopped exactly at the yesterday’s level of $1,215.40, which is a sign that selling looks risky. My advice is to watch for potential […]
Recently, the GBP/USD has been trading downwards. The price tested the level of 1.3067. Anyway, according to the M30 time frame, I found a potential end of the downward movement. The price stopped exactly at the support 2 (1.3073), which is a sign that selling looks risky. I also found 2 hammer candles, which suggests […]
AUD/JPY has been residing inside the range boundary between 80.50 to 84.50 area for a few days now. Currently, the price has been pushing lower quite impulsively which is expected to lead to certain bearish momentum in the coming days. Despite the recent worse economic reports on the JPY side, gaining over AUD having positive […]
Lets find out if the spreads were shaken up by the FOMC rate statement. Euro/Dollar’s long term average spread is point 34 pips and peak separation has been 1 and a half pips. The pair has moved sharply South from the 1 17 level as it declined by point 79% or 92 pips. US ADP […]
The US jobs report for July is due on Friday at 1230 GMT, with the release widely viewed as the most important monthly print out of the world’s largest economy since the global financial crisis. Overall, a relatively healthy labor market is anticipated by analysts, with wage growth data again attracting the lion’s share of […]
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The US Fed kept its interest rates unchanged and indirectly confirmed the pace for further tightening of the monetary policy. The Fed noted the labour market strengthening, as well as the strong growth in household spending and business investment. The commentary did not provoke any big market reaction as it had expected such outcome. However, […]
Good morning, traders, the Dukascopy TV team is here with Thursday’s Daily Trading Signals. Euro/Dollar’s hourly indicators are mixed. Mid term outlook is bearish and 5 models are neutral in the long term. Interbank sentiment is bearish, matching the 4-hour signals. Pound/Dollar has 6 sell prompts in both the 1 and 4-hour charts. 6 studies […]
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Here are the latest developments in global markets: FOREX: The dollar’s index against a basket of currencies was on its third straight day of advancing on Thursday – up by a bit less than 0.2% – after it was supported the previous day by the Federal Reserve’s positive assessment of the US economy. STOCKS: The […]
