USD keeps rallying as a reaction to the hawkish Fed and solid data from the US economy. The currency market yesterday saw massive moves with serious consequences for EUR and USD. The contrast between the Fed’s hawkish attitude and the surprisingly dovish position of the ECB gave the impulse to abandon the EUR, and the […]
EUR/USD As a result of yesterday’s ECB meeting, the euro fell by 220 points. According to media reports, the ECB has taken a “sensational” decision to reduce asset purchases to its balance sheet (QE program) from the current 30 billion euros a month to 15 billion euros from October to complete the program in December […]
GBP/USD In the first half of yesterday, the British pound grew on strong data on retail sales – the May index was 1.3% vs. the expected 0.5% and April’s growth was revised upward from 1.6% to 1.8%. The pound added 70 points. Of course, before the ECB meeting, such growth looked risky, while the upcoming […]
USD/JPY In the first half of Thursday, the situation on the Japanese yen was overshadowed by the release of weak industrial production in China in May. Industrial Production slowed its growth from 7.0% y/y to 6.8% y/y against an expected smaller decline to 6.9 % y/y. But in Japan, the final report on industrial production […]
Reason for the trading strategy (fundamentally): Bitcoin’s latest crash may be over after the value of the cryptocurrency stabilized Thursday. The plunge began Sunday, with several factors possibly feeding into it, including a cyberheist that hit South Korea’s Coinrail cryptocurrency exchange—even though no bitcoins were stolen—and a U.S. regulatory probe into Bitcoin price manipulation. Bitcoin’s […]
EUR/AUD bounced off his support at 1.5444 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) and we expect it to rise further to its resistance at 1.5655 (horizontal swing high resistance). We do have to be cautious of the intermediate resistance at 1.5555 (50% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) […]
Forecast for June 15: Analytical review on the scale of H1: For gold, the key levels on the scale of H1 are: 1317.09, 1311.22, 1308.28, 1304.49, 1299.37, 1295.86, 1291.63 and 1287.67. There the continuation of the upward movement is expected after the breakdown of 1304.50, in this case the first target is 1308.28, in the […]
Morning Report: 07.00 London The US dollar is holding at the highs after the ECB gave a dovish perspective on its QE exit and the BoJ opted to keep rates on hold. The US increasingly appears to be going its own way, setting the dollar on a path of strength. Dollar pairs are generally unchanged […]
The ECB dominated markets yesterday as they shifted their policy stance and signalled their exit from QE. The Bank is looking to reduce its bond buying by 15Bln euro from September and terminate the program completely by December provided market conditions support the move. The Bank also wished to maintain rates at their current levels […]
https://pepperstone.com/en/forex-news/market-review -USD gains vs MXN CAD and NZD. -BRL falls sharply once more. -BOJ lowers inflation outlook. -The USA may add many new Chinese trade tariffs today. -How important is ECB QE to Emerging Markets? The overnight changes and price moves to be aware of by Pepperstone’s Market Analyst, Darren Sinden. New To Forex Trading? […]
EUR/NZD has made a new low since the 1.7294 peak and this now seriously questions our former count. Yesterday’s break to new lows does open the possibility of an alternate count. This count calls for more downside closer to 1.6416 and maybe even a decline to 1.6338 if the former low at 1.6517 is broken. […]
The ECB’s call to end it QE at the end of 2018 hit the EUR hard and of course, EUR/JPY got hit too. We were expecting a decline soon, but not of that magnitude and not below the 128.07 as that tells us that wave ii still is in motion. With wave ii still in […]
So, the key events of the trading week are behind us: now we can sum up the first results by evaluating dispositions and prospects. The Fed and the European Central Bank have spoken, to some extent surprising the market with the sounded position. In a kind of two-day confrontation, the dollar won after all, having […]
Eurozone The ECB kept the benchmark rate at the meeting on Thursday at the level of 0%, a decision that was expected by the market and therefore did not lead to an increase in volatility. The deposit and marginal rates were also maintained at previous levels. The record low levels will be kept at least […]
The European currency fell sharply against the US dollar on Thursday after the publication of the European Central Bank’s decision on interest rates.And if the level of interest rates was clear, it remained unchanged, then with the prospect of curtailing program of asset repurchase market participants still had to figure it out. As seen from […]
The ECB disappointed traders The ECB said it would complete its program of injections into the markets in December 2018, but the ECB will not raise the rate until at least the summer of 2019. This knocked down the euro against the dollar: it became clear that the Fed has a significant margin for raising […]
At first glance, the fall in the US dollar following the June FOMC meeting looks like an anomaly. The Fed raised its forecast for GDP by 2018 by 0.1 percentage point to 2.8%, inflation – by 0.2 pp to 2.1%, at the rate for federal funds – from 2.125% to 2.375%, lowered the estimate of […]
To open long positions on EURUSD it is required: Buyers came out on the morning resistance, and now support for the pair is at 1.1810 area. However, much will depend on the statements made by the ECB in the afternoon. Breakout of resistance 1.1851 will lead the euro to new highs in the area of […]
To open long positions on GBP/USD it is required: Buyers managed to catch hold of the resistance in the first half of the day for resistance 1.3412, and while the trade is above this level, demand for the pound will remain, which opens the way to new highs of 1.3467 and 1.3523, where it is […]
GBP/JPY Throughout the current week, players on the rise, to continue the climb, tried to go beyond the upper shadow of the last week candle, but they have not been able to achieve a positive result so far. The maximum extremum (148.09) has not been updated, the resistance uniting weekly levels (Senkou Span A 148.25 […]
Forecast: The ECB will announce the completion of the QE program today Today, the ECB is likely to announce the completion of the program of pumping markets with liquidity. This is a big turn for the ECB policy: the “quantitative easing” program has been going on for 3.5 years, and the inflows into the markets […]
New Fed forecast for the US economy from June 13, 2018 – Forecast for GDP growth in 2018: 2.7% – 3.0% (previously 2.6% – 3.0%) – Forecast for GDP growth in 2019: 2.2% – 2.6% (previously 2.2% – 2.6%) – Forecast for GDP growth in 2020: 1.8% – 2.0% (previously 1.8% – 2.1%) – The […]
Analysis of wave counting: In the course of trading on June 13, the GBP/USD pair added about 65 basis points from the day’s low and thus completed the construction of wave b near the mark of 1.3304, which corresponds to 61.8% of the Fibonacci, built on the size of the wave a. Thus, now there […]
Analysis of wave counting: As a result of the previous day, the EUR/USD pair added about 45 basis points. Thus, the construction of the supposed wave 1, in 1, in the future 3 was resumed. At the moment, the pair is in the stage of building an internal wave 5, the lowest targets of which […]
Burning forecast 06/14/2018 EURUSD is ready for growth. On Wednesday, the Fed raised the rate by + 0.25%, to 1.875%. Moreover, the Fed promised to raise the rate more actively in the next period – now experts expect two more rate hikes by the end of the year at least. Despite this, attempt to turn […]
http://www.elliottwave.com/Investor-Research/Financial-Forecast-Service?tcn=ytv1703 It seems strange, but the stock market is an arena of human activity where the professionals usually fail when it counts the most — at major turns. With that in mind, learn how the past is related to what’s going on now. http://www.elliottwave.com/r.asp?rcn=ytvideos1403&url=http://www2.elliottwave.com/club/signuplt/newsletters.aspx Learn How the Wave Principle Can Improve Your Trading Related Posts:Market […]
Cocoa futures for July delivery have finally reversed to the upside last Friday after printing lower highs and lower lows in the preceding six weeks to reach a three-month low of 2,245 on June 7. The downward pattern started at the end of April, however, may not change unless the market manages to crawl substantially above the descending channel. Momentum […]
USDMXN has appreciated considerably after reaching an eight-and-a-half-month low of 17.9347 on April 17. On Wednesday, it touched a near one-and-a-half-year high of 20.8235, while it is currently trading not far below that peak. Adding to the clearly bullish short-term picture are the positively-aligned Tenkan- and Kijun-sen lines. The Chikou Span, however, may be pointing […]
Early today, the Australia Bureau of Statistics (ABS) released the employment numbers for the month of May. The unemployment rate in the country fell to 5.4%, which is the lowest level since 2012. The employment change and participation rate during the month disappointed. 12K people were employed in the month, which was lower than the […]
Today, the Australian Bureau of Statistics (ABS) released employment numbers for the month of May. The numbers were mixed, with the unemployment rate dropping to 5.4%. This was better than the expected 5.5% and lower than last month’s 5.6%. The number was the lowest it has been since 2012. The other numbers released today were […]
