Watch our ”Weekly Forex Review and Outlook” to catch up on the past week’s main events and their impact on major currencies and also find out what important economic data will be coming up in the future. Related Posts:EUR/USD: trading plan for the US session on April 16th… April 16, 2024 In my morning forecast, […]
We see the week starting fairly quiet on the high impact data front, however, there will be economic updates from the UK and Germany on Tuesday. The Euro and Sterling have attempted to stay above 2018 lows vs the Dollar recently and any excuse to continue to do so could come even from low impact […]
GOLD PRICES in London’s wholesale bullion market headed for a small weekly gain Friday lunchtime, holding $2 per ounce higher at $1255 as US employment data beat analysts for last month. Ahead of today’s imposition of new US tariffs on imports from China, now met by Chinese tariffs on a matching $34 billion of […]
We’re halfway through the last trading day of the week; let’s see how things are shaping up for the market players. Euro/Dollar has moved slowly up to trade point 18% in the green at noon. Turnover is low and sentiment of the traders is neutral, at a balance. Gradual rise has provided some chances for […]
Cocoa futures for September delivery have reversed to the upside over the last three weeks after the rebound on the 2313 support. However, the price is still trading below the 38.2% Fibonacci retracement level of the upleg from 1796 to 2930 at 2500, which seems to be acting as a strong resistance barrier, setting the scene for a sideways move. Momentum indicators in […]
Here are the latest developments in global markets: FOREX: The US started collecting a 25% import tariff on Chinese products worth $34 billion on Friday midnight. According to media, China has immediately activated its countermeasures today as well, with dollar/yen remaining unaffected at 110.63 (+0.01%) as investors have already priced in the news, turning focus to […]
The US 30 index has been trading within a symmetric triangle formation since its plunge in early-February, posting higher lows but also lower highs on the daily chart. The outlook currently appears neutral, with a decisive break on either side of the aforementioned triangle needed to determine the medium-term bias. Looking at short-term momentum oscillators, […]
4H The EUR / USD pair cleared the Fibo level of 61.8% at 1.1639 on the 4-hour chart and the growth to the correctional level of 38.2% at 1.1721. Exit of quotations from the level of correction where 38.2% already worked in favor of the US currency and the pair is successfully returned to the […]
EUR/CAD has been slightly bullish recently trying to break above 1.5350 area with a daily close. CAD has been the dominant currency in the pair recently which is expected to continue further as per market condition and context of economic reports published. EUR has been struggling with the BREXIT and recently formed Trade War tensions […]
The major economic data release for today will be the U.S. Non-Farm Payrolls (NFP) and Average Hourly Earnings. The US economy is expected to add another 195K jobs in June with hourly earnings growing to an annualized 2.8% from 2.7% in May. The stronger growth should keep the Federal Open Market Committee (FOMC) on course […]
EURAUD has posted considerable gains after hitting a five-month low of 1.5272 on June 5. On Tuesday, the pair touched a two-month high of 1.5886. The Tenkan-sen is above the Kijun-sen, pointing to a positive short-term bias. However, the fact that the Kijun-sen has flatlined is an indication of easing positive momentum in the near-term. […]
AUD/JPY has been quite corrective and volatile above the support area of 80.50-81.50 for a few days in a row. The price is now expected to climb higher towards 83.50 area in the coming days. The mixed economic reports from Japan are the main setback for JPY weakness against AUD. Today, AIG Construction Index report […]
Recently, AUD/USD has been trading downwards. As I expected, the price tested the level of 0.7417. According to the H1 time – frame, I found a potential end of the expanded flat downward correction, which is a sign that selling looks risky. I also found a breakout of the suppy trendline in the background, which […]
NZD/USD has been quite impulsive with the bullish gains recently which lead the price to retest the support area of 0.68-0.69 area in the process. Ahead of the upcoming high impact USD economic reports to be published today, the pair is expected to be quite volatile in the process. NZD has been quite worse with […]
Trading recommendations: Recently, Bitcoin has been trading downwards. The price tested the level of $6.507. According to the H1 time – frame, I found a broken upward trendline in the backgorund, which is a sign that sellers are in control. I also found a hidden bearish divergence on the macd oscillator, which is another sign […]
The US 500 Index has moved higher overnight but has now retraced some of this move on the run into Nonfarm Payrolls data. The US/China Trade Tariffs went into place overnight with minimal market reaction. The market is awaiting confirmed reports on the tariff process with one eye on economic data. The price has consolidated […]
Keep your broker on a short leash and check their price feed with the Dukascopy Spike Controller. All three average spreads are slightly above the point 3 pip mark for the Euro/Dollar. Peak separation has been 1 and a half pips. The pair gained point 47% or 55 pips as it broke through the 1 […]
Recently, EUR/USD has been trading upwards. The price tested the level of 1.1726. According to the H1 time – frame, I found a rising trendline, which is a sign that buyers are in control. I also found a potential end of the flat ABC downward correction in the background, which is another sign of weakness. […]
CAD/JPY is testing its resistance at 84.21 (61.8% & 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reversal, causing price to fall to its support at 83.08 (61.8% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur. Sell below […]
GBP/USD has reversed nicely off its resistance at 1.3266 (100% Fibonacci extension x2, 50% & 78.6% Fibonacci retracement, horizontal swing high resistance) where we expect to see a further drop to its support at 1.3149 (100% Fibonacci extension, horizontal pullback support). Stochastic (89, 5, 3) reversed off its resistance at 95% where a corresponding drop […]
The EURUSD pair is moving back higher after reaching a 3 week high at 1.17264 today and testing its 200 period MA in a 4 hour timeframe. The price has been consolidating between 1.17200 and 1.15100 since it dropped after the ECB meeting last month. A break higher would seek to retrace that move and […]
At midnight today, the United States started implementing tariffs for major Chinese goods coming to the country. This is an important move after months of countless negotiations and urging from business and political leaders who advised against the tariffs. Shortly afterwards, Chinese authorities announced that they were starting imposing tariffs on US goods which include […]
The Federal Reserve Open Market Committee (FOMC) met in June for their monetary policy meeting. The meeting was meant to asses the status of the US economy and the future of its monetary policies. Yesterday, the officials released the minutes for this meeting. These minutes are usually released three weeks after the meeting. In the […]
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Get your daily market and Forex news analysis from leading Forex and market news analysts only at http://www.xm.com/market-analysis-video Professional Forex news analysis on all major currencies: (EUR/USD) (USD/JPY) (GBP/USD) (USD/CHF), (USD/CAD), (AUD/USD) Visit http://www.xm.com the international Forex broker. Related Posts:Technical Analysis – USDCAD blossoms ahead of central bank… April 16, 2024 USDCAD rises rapidly; reverses […]
GBPJPY is still developing above the moving averages in the 4-hour chart but with weak movement over the last couple of sessions. Also, the price touched a new two-week high of 146.85 on Thursday but reversed some of its gains. Looking at the short-term timeframe, the Relative Strength Index (RSI) hovers above the threshold of […]
US customs duty on Chinese products is in force today. Only now we will see what is the actual position and strategy of both sides of the commercial dispute and whether it will escalate to trade wars. Among other things, it will come out if China decides on non-tariff restrictions and obstacles, for example through […]
These are the Dukascopy Daily Trading Signals for Friday. Here’s how the interbank compares with the technicals at 8 AM GMT. Green signals are in the lead of all three time scales for the Euro/Dollar. 4 models point North in the hourly chart, 6 in the mid term and 5 in the long term. Interbank […]
Get your daily market and Forex news analysis from leading Forex and market news analysts only at http://www.xm.com/market-analysis-video Professional Forex news analysis on all major currencies: (EUR/USD) (USD/JPY) (GBP/USD) (USD/CHF), (USD/CAD), (AUD/USD) Visit http://www.xm.com the international Forex broker. Related Posts:Technical Analysis – USDCAD blossoms ahead of central bank… April 16, 2024 USDCAD rises rapidly; reverses […]
Here are the latest developments in global markets: FOREX: The US dollar index is down by almost 0.2% on Friday, ahead of the release of the US employment report for June later today. Meanwhile, the safe-haven Japanese yen is on the back foot, with investors appearing largely unfazed by a possible escalation in the US-China trade saga […]
