When the European Central Bank (ECB) announces its rate decision on Thursday at 1145 GMT and President Draghi holds his press conference at 1230 GMT, policymakers will have a delicate job on their hands of signaling that the end of QE is drawing closer. Markets are speculating the Bank may announce a firm end-date to […]
EURGBP has remained in a trading range in the short-term over the last one-and-a-half month with upper boundary the 0.8840 resistance level and lower boundary the 0.8700 handle. The price has found strong obstacle at the 200-simple moving average (SMA) in the medium-term as it has been developing below it since the beginning of March. From the technical point of view, […]
After this week’s extremely poor manufacturing and trade gap figures out of the United Kingdom, hopes of a rebound in economic growth in the second quarter have been dashed. That’s put the focus even more on Thursday’s retail sales numbers, scheduled for release at 08:30 GMT. Sterling is headed for further volatility in a […]
Australia’s employment report for May is likely to attract investors’ attention and is scheduled for release on Thursday at 0130 GMT. The unemployment rate is forecasted to tick lower to 5.5% for the month of May from 5.6% in the preceding month, while the employment change is expected to show that the economy added 18,000 […]
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. Bearish persistence below the price level of 1.2200 allowed further bearish decline towards the price levels of 1.1990 and 1.1880. As mentioned, […]
The price zone of 0.7320-0.7390 stood as a significant supply zone during recent bullish pullback. The bulls failed to execute a successful Bullish breakout above 0.7400 during the previous week’s consolidations. The NZD/USD pair had been trapped between the price levels of 0.7170 and 0.7350 until the bearish breakdown of 0.7200 occurred. Since April 13, […]
GBP / USD pair Players on the fall try to complete the upward correction and return to the continuation of the trend, but the force of attraction of the daily cross levels (Kijun 1.3410 + Tenkan 1.3361) does not yet allow the implementation of these plans. Recovery of the downtrend is possible after updating the […]
The wave pattern of the H1 graph: The bearish wave of the major “Aussie” since January 26 in a higher timeframe takes the place of the final part (C). A contemptible calculation allows you to wait for about 3 figures to the target zone. The wave pattern of the H1 graph: Since May 9, quotations […]
Today the Federal Reserve is expected to hike interest rates from 1.75% to 2.0% at the conclusion of its June 12-13 FOMC meeting, and announce the next step in its balance sheet normalization policy. The US economy has shown strong momentum with inflation at the Federal Reserve’s 2% target. If the FOMC upgrades the economic […]
Here are the latest developments in global markets: FOREX: Sterling dipped towards a 1-week low of 1.3310 against the US dollar on Wednesday (-0.20%) after CPI figures out of the UK missed slightly expectations on a yearly basis, coming at 2.4% instead of 2.5% analysts forecasted. Dollar/yen reached a 3-week high of 110.71 (0.15%) before the two-day FOMC […]
Tomorrow in Latvia, the fate of the European currency will be decided. The June meeting of the ECB, which this time will take place in Riga, will be a key event for the euro, as the regulator can actually start the normalization of monetary policy. However, among experts, disputes still remain about the possible actions […]
The GBP/USD currency pair felt resistance, signaling traders about the end of the corrective movement after converging with the 1.3440 / 1.3480 range. What do we have on the market? The end of the correction, which reached a range level, compared itself with two values: 1.3440 – the level of medium importance and Fibo 23.6 […]
EUR / USD pair As expected, the players on the rise took a break, having worked out the upward target for the breakdown of the H4 cloud (1.1829) and achieved the final level resistance of the daytime dead cross (Fibo Kijun 1.1810). The key support zone, which combines the boundaries of the monthly and weekly […]
The precious metal has been in a consolidation pattern around 1300.00 for some time now, with today and tomorrow having the potential to jolt the market back to life. The price action has set up what appears to be a bearish wedge continuation pattern. As can be seen the price entered the pattern from above […]
• USDJPY broke key resistance level 110.30 • Likely to rise further USDJPY recently rose sharply – breaking through the resistance area lying between key resistance level 110.30 (top of the previous correction (a)) and the 61.8% Fibonacci correction of the previous downward impulse 1 from the middle of May. The breakout of this resistance […]
GOLD BULLION rallied from a new 1-week low in US Dollar terms on Wednesday in London, trading unchanged for the year-to-date at $1294 per ounce ahead of today’s key Federal Reserve decision on US interest rates. Asian stock markets slipped while European equities rose, reversing yesterday’s pattern as major government bond prices edged higher, […]
The UK Consumer Price Index data in May was as dynamic as in the previous month, which is 0.4% or 2.4% on a yearly basis. The same situation applies to the base indicator, which maintained the value of 2.1% y/y. Both publications were exactly in line with market expectations. The secondary inflation indicators of RPI […]
Recently, the Gold has been trading downwards. The price tested the level of $1,291.67. Anyway, according to the H1 time frame, I found a potential end of downward correction, which is a sign that selling at this stage looks risky. My advice is to watch for potential breakout of intraday supply trendline to confirm upward […]
The two-day meeting of the Federal Open Market Committee (FOMC) ends on Wednesday 13 June with the publication of the decision on interest rates at 06:00 pm GMT. The global investors expect an increase in the target for the federal reserve rate by 25 bp to 1.75-2.00%. Together with the decision, the macroeconomic statement and […]
Recently, the GBP/USD has been trading downwards. The price tested the level of 1.3307. Anyway, according to the H1 time – frame, I found a potential end of downward correction, which is a sign that selling at this stage looks risky. I also found a hidden bullish divergence on the MACD oscillator in creation, which […]
The EURUSD pair is trading in a range at the moment between 1.18350 and 1.17200 as we head into the FOMC meeting today and the ECB meeting tomorrow. Technically price has broken down in four hour from the 3 touch trend line shown on the chart but this move will need to be confirmed soon […]
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The Dukascopy FX TV team helps you get the best deals from your broker with the Spike Controller. Euro/Dollar’s long term average spread is point 33 pips and peak separation has been 2 pips. The pair has moved South of the 1 18 level as it declined by point 6% or 71 pips. Spreads were […]
In an overall eventful week for the US, retail sales figures for May are due out of the country on Thursday at 1230 GMT and are anticipated to attract market participants’ attention. Retail sales are expected to grow by 0.4% m/m in May, double April’s growth rate. Meanwhile, the measure of sales that excludes automobiles […]
The Bitcoin (BTC) has been trading downwards. The price tested the level of $6.424. The police in Japan are cracking down on the illegal use of personal computers for cryptocurrency mining. Multiple prefectural police departments are currently investigating one particular case and pursuing criminal charges, which would make it the first criminal case in Japan […]
Overview: The USD/CHF pair faced resistance at the level of 0.9943. So, 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 pair fails to pass through the level of 0.9943, the market will […]
Overview: The EUR/USD pair rose from the level of 1.1673 towards 1.1837 this week. Now, the current price is set at 1.1743. On the H1 chart, the resistance is seen at the levels of 1.1798 and 1.1837. Besides, the weekly support 1 is seen at the level of 1.1673. Today, the EUR/USD pair is continuing […]
The demand for the US dollar returned in the afternoon of Tuesday, June 12. Inflation data did not lead to sharp changes in the market but the expectation that during the next meeting, the US Federal Reserve will raise interest rates, gave optimism to buyers of the US dollar. It will also be very important […]
The dollar strengthened yesterday which was the result of incredibly good inflation data that accelerated from 2.5% to 2.8% while the growth was projected to 2.7%. In fact, inflation data lifted any doubts about today’s outcome of the meeting of the Federal Commission for Open Market Operations, and the Fed is waiting for an increase […]
To open long positions for EURUSD, you need: Today, euro buyers should return to resistance level 1.1776 in the first half of the day. Above this level, a larger upward wave will lead to the renewal of yesterday’s highs of around 1.1821. The main goal for long positions will be to go beyond the level […]
