4-hour timeframe Technical data: The senior channel of linear regression: direction – down. The younger channel of linear regression: direction – down. Moving average (20; flattened) – sideways. СCI: 58.2331 The currency pair EUR / USD worked on the level of Murray “-1/8” on July 2 and could not gain a foothold below. Bears have […]
https://pepperstone.com/en/forex-news/market-review -It’s July 4th US Independence day -The Yuan pushes back as the Won gives ground vs USD. -Eurozone and UK PMI data on tap. -Japan’s service sector PMI tell a mixed story. -The PBOC intervened to halt the Yuan slide. -Iran starts a European charm offensive. -A look at the markets US dollar positioning. […]
After testing its upper down slope channel in the 4-hour chart, Bitcoin seems getting exhausted. And it probably will back to its previous Bearish condition. This is already confirmed by the Divergence between the MACD Histogram and the price, basing on this fact this Cryptocurrency will likely back to its previous trend (Bearish condition). (Dsiclaimer) […]
The Ethereum at Daily Charts looks like still continuing its Bearish bias. This is already confirmed by the price moving in a down slope channel and we’ve spotted the hidden Divergence between the MACD Histogram and the price, so the tendency of this Cryptocurrency still continues its downtrend. (Disclaimer) The material has been provided by […]
When the European market opens, some Economic Data will be released such as Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, and Spanish Services PMI. The US today will not release any Economic data because of the US National Holiday, The Independence Day, so, amid the reports, EUR/USD will […]
Today, Japan and the US will not release any Economic Data. So there is a probability the USD/JPY will move with a low volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 110.94. Resistance. 2: 110.72. Resistance. 1: 110.51. Support. 1: 110.24. Support. 2: 110.02. Support. 3: 109.81. Disclaimer: Trading Forex (foreign exchange) on margin […]
Overview: The GBP/USD pair is still trading below the daily major resistance (1.3276). It will probably continue to move downwards from the level of 1.3276 to the bottom around 1.3191. Today, the first resistance level is seen at 1.3196 followed by 1.3276, while daily support 1 is seen at 1.3068. Furthermore, the moving average (100) […]
Overview: Last week, the AUD/USD pair fell from the level of 0.7474 towards 0.7348. Now, the price is set at 0.7371. The resistance is seen at the levels of 0.7426 and 0.7474. Moreover, the price area of 0.7474 remains a significant resistance zone. Therefore, there is a possibility that the AUD/USD pair will move downside […]
It was the day of Independence in the US on Tuesday, which will lead to a noticeable decline in the number of market participants from America and will probably be the basis for a partial profit taking with a local weakening of the US dollar. The dollar is moderately declining in the foreign exchange market, […]
Merkel saves the coalition-and retains the post of Chancellor On Monday, after heavy negotiations until late in the evening, German Chancellor Merkel managed to reach a compromise with the coalition partner – the CSU party (Bavaria), represented by the leader of the party, Seehofer, who is also the minister of the interior in the government […]
Analysis of wave counting: As a result of the previous trading day, the EUR/USD pair lost about 40 basis points, but remained within the framework of the proposed wave 3, in c, in 4. Thus, I expect further quotations increase with targets around 1.1866 and higher. Wave 3, in c, in 4, in turn, can […]
4h The EUR/USD pair on the 4-hour chart fell to the correction level of 76.4% – 1.1589. Exit of quotes from this level Fibo allowed quotations to return to the level of correction of 61.8% – 1.1639. However, the retreat from this level Fibo again worked in favor of the US currency and the resumption […]
The European currency fell yesterday afternoon, as investors feared that German Chancellor Angela Merkel would not be able to solve the immigration policy problem and allow a split in her conservative bloc that would lead to the collapse of her coalition government. However, by the close of the North American session it became known that […]
Last weekend in Mexico, presidential elections took place. The results of it can change not only the domestic scene but also the foreign policy of the country. Oddly enough, the Canadian dollar has become one of the beneficiaries of the current situation. The new president of Mexico, Lopez Obrador, can shift the NAFTA negotiation process […]
The euro traded quite restrainedy in the morning paired with the US dollar after the release of statistics on retail sales and the producer price index. Given the lack of important fundamental news, volatility is likely to remain intraday. According to the report of the statistics agency, retail sales in the euro area for May […]
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 short-term outlook turned to become bearish when the EUR/USD pair maintained trading below the broken uptrend as well as the lower limit of the depicted consolidation range. The price zone (1.1850-1.1750) offered temporary bullish rejection towards 1.1990 where a descending high was established. However, the EUR/USD bulls failed to […]
• AUDNZD broke resistance area • Likely to rise further AUDNZD continues to rise after the earlier breakout of the combined resistance area lying at the intersection of the resistance level 1.0940 (which stopped the previous sharp upward impulse wave (1) in May, as can be seen from the daily AUDNZD chart below) and the […]
• Gold reversed from support area • Likely to rise further Gold recently reversed up from the support area lying at the intersection of the major support level 1240.00 (which reversed the previous sharp downward corrective wave (2) in December, as can be seen from the daily Gold chart below) and the lower daily Bollinger […]
The US Dollar Index is looking more neutral as prices are still developing within the 93.80 support level and the 95.20 resistance barrier. It is worth mentioning that the price jumped to an almost fresh one-year high of 95.22 on June 28 after the bounce on the 93.80 support and the 20-day simple moving average (SMA) but later reversed […]
GOLD PRICES recovered $10 of this week’s $14 per ounce drop to new 2018 lows in London trade Tuesday morning, rising to $1248 as world stock markets also rallied with commodity prices as China’s central bank denied it has opened a new currency front in the worsening US ‘trade war’. Governor of the People’s […]
The morning session is over on this Tuesday, and it’s time for the Dukascopy Midday Snapshot. Euro/Dollar rose gradually by just 53 pips and the pair sees 27% less than typical funds. Sentiment of the traders is neutral, long positions are up by 10%. Gradual rise provided some chances for bulls, but trading has been […]
Here are the latest developments in global markets: FOREX: Ahead of the Independence Day celebration in the US on Wednesday and the FOMC meeting minutes on Thursday, dollar/yen paused at 110.87 (-0.01%) early in the European session, while the dollar index which gauges the greenback’s strength against a basket of six major currencies was weaker at 94.67 (-0.37%) as the […]
Fourth of July is a market holiday in the United States commemorating the adoption of the Declaration of Independence, so trading most likely will be lighter than usual. European Services sector performance data for June will be available starting with Italian PMI figures at 7:45 in the morning. Final French stats will be available five […]
Bitcoin has been quite impulsive with the bullish gains recently which surprising led the price to reside above $6,500 area with a daily close. After a decline below $6,500 with a daily close, the bearish momentum has been quite strong which sparked off anxiety among market participants. However, yesterday’s sudden bullish momentum confused the sentiment. […]
The Australian dollar has been one of the worst performing currencies against the dollar this year. Year-to-date, the currency has dropped by almost six per cent as shown below. The pair’s decline is mostly associated with the divergence monetary policy decisions from the Fed and the Reserve Bank of Australia (RBA). As you recall, early […]
EUR/JPY has been quite corrective and volatile at the edge of 129.50 area recently. The price is currently expected to fall lower with a target towards 125.00 area in the coming days. Though JPY was getting weaker due to sluggish inflation this year, EUR is also domed to struggle for gains as well. EUR has […]
Recently, USD/CAD has been trading downwards. As I expected, the price tested the level of 1.3142. According to the H1 time frame, I found a breakout of the bearish flag pattern, which is a sign that sellers are in control. I also found a strong downward trend in the background and my advice is to […]
Recently, EUR/USD has been trading upwards. The price tested the level of 1.1672. According to the H1 time frame, I found a breakout of the supply trendline, which is a sign that buyers are in control. I also found a rising trendline, which is another sign of strength. My advice is to watch for potential […]
Eurozone Eurozone cannot stay away from the prospect of growing protectionism, which threatens to turn into a full-fledged trade war. The ECB meeting on June 14 considered this factor as the main risk for global growth. The EU summit allowed reaching an agreement on immigration, but it became clear the following day that the head […]
