The Canadian dollar paired with the US currency is noticeably weaker and has already tested the 30th figure today. The cause for the next upward impulse was the rather uncertain data on the Canadian labor market. The unemployment rate for the fourth month in a row stands at 5.8%, but the number of employees continues […]
The euro fell significantly in the morning and remains under pressure after good growth throughout the week. Traders could record profit before the weekend, as the G7 summit can present a number of surprises that will negatively affect the course of the European currency. As noted in the morning review, the main agenda will be […]
To open long positions on EURUSD it is required: Buyers expectedly retreated, and now the entire calculation is at support level 1.1734. While the trade is above this range, a correction to the resistance area 1.1773 is quite realistic, and a break above will quickly lead to a return to the area of the highs […]
To open long positions on GBP/USD it is required: Buyers of the pound need to return to the morning resistance level 1.3404. Only after that it will be possible to count on a repeated wave of growth of GBP/USD with an exit to the daily maximum in the area of 1.3434 and update 1.3468. If […]
When in the late 1990s Alan Greenspan unexpectedly reduced the Federal funds rate in response to the increased international risks, rather than raising it to control inflation, this eventually led to overheating and recession. Janet Yellen also postponed the tightening of monetary policy in 2016 due to a fire in China’s markets and Brexit’s unexpected […]
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Technical Outlook: EUR/USD is expected to trade with a bullish outlook. The pair retreated from 1.1835 and broke below its 20-day and 50-day moving averages. Besides, the death cross between the 20-day and 50-day moving averages has been identified. The relative strength index is around its neutrality area , calling for a further consolidation. Hence, […]
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Last week was relatively calm in the markets, dare we say a touch uneventful. However, having apparently avoided the old adage of ‘Sell in May’, we are now moving into one of the most action-packed weeks of the year so far. Why trade with ETX Capital? – http://www.etxcapital.co.uk ETX Capital is one of the leading […]
USD/JPY is expected to trade with a bearish outlook. The pair retreated and broke below its 20-period and 50-period moving averages. The relative strength index is heading downward. The key resistance at 109.85 should maintain the selling pressure. Hence, as long as 109.85 holds on the upside, look for a further drop with targets at […]
EUR/JPY The cross went upwards by 200 pips this week, reached the supply zone at 130.00, before the current bearish correction (almost 180 pips from the high of the week). Another 100 pips to the downside can result in a “sell” signal, while a rally from here would enable bulls to resume pushing price upwards. […]
USD/JPY What the USD/JPY pair has done so far this week is best called a week-long consolidation. And price is now coming downwards gradually. A movement above the supply level at 110.50 will result in a bullish signal, and a movement below the demand level at 108.50 will result in bearish signal. There is an […]
USD/CHF Price touched the support level at 0.9800 and bounced upwards. The upwards bounce pales into insignificance when compared to the overall bias on the market, and it may thus proffer an opportunity to enter the market at a better price (in favor of bears). Price could breach the support level at 0.9850 to the […]
The cautious tone dominated in markets on Friday. Asia’s stock markets lost about 1%, and the S&P 500 futures are now losing 0.5% to Friday’s closing level. The main reason for this is the increased investors’ concern caused by the Fed policy. Markets do not doubt that next week FOMC will raise the rate by […]
Let’s take a look at the potential market movers scheduled for publication on this relatively light Monday. A couple of UK reports for April open this agenda at 8:30 in the morning, including Indexes of Production. Manufacturing Production slipped in March, but Industrial Production showed a slight increase. Trade Balance is the other report out […]
• Soy broke support zone • Further losses are likely Soy recently broke through the support zone lying between the levels 9.900 (which has been reversing the price from the start of April), 9.700 (monthly low from February) and the support trendline of the wide weekly up channel from 2017. The breakout of this support […]
Trade was a major point of discussion this week as the leaders of the world’s 7 largest economies meet in Quebec, Canada. Recently, the United States announced that it would impose tariffs on imported steel and aluminum on Canadian, Mexican, Japanese, and European Union steel and aluminum. This led to retaliatory tariffs from these countries […]
Daily Outlook The short-term outlook turns to become bearish as long as the EUR/USD pair keeps trading below the broken uptrend as well as the lower limit of the depicted consolidation range remains broken. Bearish persistence below the price level of 1.2200 allowed further bearish decline towards the price levels of 1.1990 and 1.1880. The […]
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 bearish breakdown of 0.7200 occurred. Since April 13, significant […]
It’s midpoint of this week’s last trading day, so let’s see how well market players have managed to work out the rate shifts. Euro/Dollar has declined by a total of 84 pips and the pair stood point 39% in the red at noon. Traded volume is average and neutral sentiment of the traders is 6% […]
Find out if news events have influenced the spread levels during the past 24 hours by watching the Dukascopy Spike Controller. Euro/Dollar’s spreads have averaged at point 31 pips during the past 24 hours and maximum separation has been point 9 pips. The pair has once again moved South of the 1 18 level as […]
The Japanese Yen (JPY) is strengthening against all major currencies today as risk appetite appears to diminish. Yesterday, the US 10 Year Treasury yields fell sharply as investors shifted to safer assets amid growing concerns about emerging market risk. Moreover, Japanese economic data remains disappointing with today’s release of Q1 GDP showing growth down 0.2% […]
SILVER PRICES held on track for a 2% weekly gain in London trade Friday, outpacing gold’s 0.3% rise in US Dollar terms as the yellow yet again failed to hold a break above $1300 per ounce. “If gold is able to confirm a close above $1300, it could be able to gain up to […]
All eyes will be on the US Federal Reserve and the European Central Bank next week as the two central banks are expected to take further steps towards policy normalization. In contrast, the policy meeting by the Bank of Japan is anticipated to be a non-event. Economic data will also be making the headlines as […]
Here are the latest developments in global markets: FOREX: Despite optimism that the ECB will end its QE program by the end of this year, the euro went downhill on Friday against its US counterpart as appetite for riskier assets eased on fears trade tensions could heighten if the US and its G6 partners fail to reach agreement on a joint statement at today’s meeting in Quebec, Canada. […]
Apple’s stock reached a fresh all-time high of 193.90 on Thursday, having staged a spectacular rally after touching a ten-week low of 160.50 on April 27. Price action remains comfortably above both the 100-day and 200-day moving averages, reinforcing the bullish medium-term outlook. Looking at momentum oscillators, the RSI has just turned down after meeting […]
The Hong Kong 50 Index is having a rough ride today, extending the negative momentum below the 20-day simple moving average (SMA). While the index jumped above the symmetrical triangle in the previous two days it failed to extend gains towards the 32,000 resistance level and reversed back down. Technical indicators point to further downside movements in the short-term. The RSI […]
In previous articles, we already discussed that the currency pair is in the correction phase, giving us more than 250 points of the move from May 30. Now the price has reached the range of 1.3440 / 1.3480, where the upper limit coincides with the Fibo level of 23.6. What we have at the moment […]
NZD/USD has been bullish recently after bouncing off the 0.6850 support area which is expected to be retested soon in the coming days. Despite having mixed economic reports, NZD gained good momentum over USD which is currently expected to be engulfed by USD in the coming days. Recently, the NZD ANZ Commodity Prices report was […]
Overview: The GBP/USD pair is showing signs of strength following a breakout of the highest level of 1.3370. On the H1 chart, the level of 1.3370 coincides with 61.8% of Fibonacci, which is expected to act as minor support today. Since the trend is above the 61.8% Fibonacci level, the market is still in an […]
