• Brent Crude Oil broke combined support zone • Likely to fall further Brent Crude Oil recently broke through the combined support zone lying between the support level 75.00 and the support trendline of the daily up channel from the middle of February. The breakout of this support zone accelerated the active minor corrective wave […]
NZDUSD bounced higher once it printed a doji candle in the four-hour chart today, though the MACD points that risks remain to the downside as the indicator continues to expand in negative territory and below its red signal line. The red Tenkan-sen line sends bearish signals as well, distancing itself to the downside from the blue Kijun-sen line. A leg up […]
The US Dollar has been advancing ahead of the CPI report today which is expected to show the headline rate edge up to 2.9% year-on-year. The US preparing an additional $200bln of tariffs on Chinese imports caused some risk aversion but this has proven to be short lived. However, higher tariffs can be expected to […]
With US second quarter (Q2) earnings season coming up, Ben Gutteridge, head of fund research at Brewin Dolphin, tells IGTV’s Victoria Scholar that the focus will be on guidance. Gutteridge also says we should watch out for any impact from the strengthening US dollar, as well as any concerns from management about growing trade tensions […]
GOLD PRICES rallied $5 per ounce from 1-week lows against the Dollar in London on Thursday, touching $1246 and also rising versus other major currencies as Donald Trump said he has wrung a promise of higher military spending out of other Nato member states, and new US data showed the cost of living rising in […]
Trump continues to amaze. On Wednesday, Trump took part in the meeting of the heads of state of the NATO countries. For obvious reasons, Trump was in the spotlight. Trump demanded from NATO member countries to increase defense spending by 4% of GDP. This caused a general surprise: Now, most countries spend significantly less than […]
It’s 12 PM GMT this Thursday, and the Dukascopy TV team is here with another Midday Snapshot. Euro/Dollar declined by just 43 pips and a slight loss was posted at noon. Turnover is average and sentiment of the traders is neutral, 5% short. There have been some limited profit opportunities for bearish market players. Pound/Dollar […]
The metal has plunged lower to support at 1240.00 yesterday after retracing last month’s decline to the 1265.80 level. The 1240.00 area was the target for the double top from 1365.30 and it would appear that sellers are taking profit in this area. The low reached was 1237.50 and any move under this area could […]
Let’s take a look at the potential market movers scheduled for publication on this relatively light Friday. German Wholesale Price Index for June is out first at 6 o’clock in the morning. Prices increased by a stronger than expected point 8% in May and this was the second monthly increase in a row. Swiss Producer […]
The Canadian dollar jumped in the immediate minutes the Bank of Canada (BOC) released its interest rate decision. As expected the bank made its first rate hike since December last year. It moved the base lending rate to 1.50% from the previously-released 1.25%. It was the fourth hike since last summer. This rate – also […]
China will release its monthly trade balance data during the Asian session Friday, which will be followed by the nation’s quarterly GDP figures for Q2 early on Monday, alongside fixed asset investment, industrial production, and retail sales prints. The aussie – widely viewed as a liquid proxy for “China plays” – will be firmly in […]
Here are the latest developments in global markets: FOREX: Dollar/yen continued to advance during the European trading session on Thursday, rising by 0.49% in the day to touch a fresh seven-month high of 112.55, with the yen failing to draw any support from reports President Trump has threatened to withdraw the US from NATO. Meanwhile, euro/dollar […]
Recently, USD/CHF has been trading upwards. The price tested the level of 0.9978. According to the H1 time – frame, I found a breakout of the bullish flag, which is a sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward targets are set at the price of […]
Recently, EUR/USD has been trading downwards. The price tested the level of 1.1665. According to the H1 time – frame, I found a potential bearish flag pattern in creation, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities if you see a valid breakout of the flag […]
Trading recommendations: Recently, Bitcoin has been trading downwards. As I expected, the price tested the level of $6.048. According to the H1 time – frame, I found an end of the upward correction (running flat), which is a sign that buying looks risky. I see strong selling pressure on the market and my advice is […]
This is the Dukascopy Spike Controller for Thursday. As usual, we’ll provide you with the benchmark interbank price data for the 3 non-cross majors. Euro/Dollar’s long term average spread is point 37 pips and maximum separation has been 2.3 pips. The pair moved South of the 1 17 level as it declined by point 79% […]
Banking giant Wells Fargo’s Q2 2018 earnings report will be made public before Friday’s US market open. The consensus recommendation for the company is “hold”, which negatively compares to the “buy” average consensus recommendation for the Banks peer group. The bank’s earnings per share (EPS) are anticipated to come in at $1.12 during the second […]
Overview: The EUR/USD pair continues to move downwards from the level of 1.1752. This week, the pair has dropped from the level of 1.1752 to the bottom around 1.1678. Today, the first support level is seen at 1.1694, the price is moving in a bearish channel now. Furthermore, the price has been set below the […]
Overview: The major resistance is seen at the level of 0.7474. The AUD/USD pair fell from the level of 0.7474 towards 0.7348. But, the price rebounded from the bottom of 0.7348 to trade around the spot of 0.7474 again. The resistance is seen at the levels of 0.7474, 0.7513 and 0.7554. Moreover, the price area […]
The EURGBP pair is in an uptrend on the daily since the 17th of April and the low created at 0.86203. The price has eked out higher highs and lows and advanced to Monday’s high at 0.89000. A break above this area could change the playing field and try to advance the chart to the […]
Yesterday, the price of WTI crude oil futures fell by more than five percent, making it the biggest drop in more than a year. The price fell from almost $75 and settled at $70. The decline yesterday came as the OPEC member countries opened their taps and increased production. Saudi Arabia, the biggest oil exporter […]
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Overview: The pivot point is seen at the point of 1.3190 on the H1 chart. Right now, the price is still trade around the point of 1.3190. The USD/CAD pair probably continues to move downwards from the level of 1.3190, which represents the double top on the H1 chart. The pair dropped from the level […]
AUD/USD has been quite volatile with the bearish trend it had started till it bounced off 0.8150 area with a daily close. Despite recent struggles on the USD side, AUD failed to gain momentum against USD. Recently, after the worse-than-expected NFP report, USD failed to sustain the momentum it had over AUD. However, despite the […]
Overview: The USD/CHF pair is still trading above the pivot point of the price 0.9857. 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. However, if […]
The NZD/USD pair had been trapped between the price levels of 0.7170 and 0.7350 until bearish breakdown of 0.7200 occurred on April 23. Breakdown of 0.7220-0.7170 (neckline zone) was needed to confirm the depicted reversal pattern. Bearish target levels around 0.7050 and 0.7000 have been achieved already. The price level of 0.7050 was considered a […]
Daily Outlook In April 2018, the EUR/USD pair outlook turned to become bearish when the pair pursued trading below the broken uptrend as well as the lower limit of the depicted consolidation range. Shortly after, the price zone (1.1850-1.1750) offered temporary bullish rejection towards 1.1990. The EUR/USD bulls failed to pursue towards higher bullish targets. […]
USD/CAD has been quite impulsive with the bullish gains recently after breaking above the 1.3120 area with a daily close. Despite the recent rate hike by the Bank of Canada, CAD failed to gained momentum over USD that might lead to further bullish gains. Yesterday, the Bank of Canada’s policy statement and overnight rate report […]
In line with market expectations, the Bank of Canada decided to raise interest rates to 1.5%, making them the highest levels in almost a decade. In response to the rate hike, the Canadian dollar strengthened against the dollar and other major currencies by several dozen points. Although the increase by 25 basis points to 1.5% […]
Find out how the interbank compares with the technicals at 8 AM GMT by watching the Dukascopy Daily Trading Signals. There are 4 buy signals in the Euro/Dollar’s hourly chart. Mid term outlook shifts to bearish in the 4-hours and neutral in the daily range. Interbank stance is bearish, just like the 4-hour models. Pound/Dollar’s […]
