All our downside targets which we predicted in yesterday’s analysis have been hit. The pair is in a downward trend, capped by its negative trend line. Both the 20-period and 50-period simple moving average are heading downward, calling for a further decline. Furthermore, the relative strength index remains weak below its neutrality area at 50. […]
It’s another busy day, packed with economic publications on this Thursday, so let’s take a closer look. Data run starts early at 5:45 in the morning, when Swiss GDP for the first quarter is out. Economy expanded at a solid rate of point 6% in the final quarter of last year, which was the eight […]
EURAUD fell to a 4-month low of 1.5315 on Tuesday, coming close to touching the 50% Fibonacci retracement of the upleg from 1.4421 to 1.6190 between July 2017 and March 2018. The pair has reversed sharply from the more than two-year high of 1.6190 set on March 28. However, with momentum indicators having run into […]
GOLD PRICES rose back above $1300 per ounce in London trade Wednesday as the Dollar retreated from this week’s jump on the FX market after US data came in weaker than expected and European markets rallied from Italy’s political sell-off. Ahead of Friday’s official non-farm payrolls estimate for May, today’s private-sector ADP report said […]
Technical Outlook : USD/CAD is expected to trade with a bearish outlook. The pair broke below its lower boundary of Bollinger Bands, indicating the downside acceleration. Both bearish 20-period and 50-period moving averages should push the prices lower. The relative strength index broke below its oversold level of 30, but has not displayed any reversal […]
Technical Overview: Our first target which we predicted in the yesterday’s analysis has been hit. EUR/USD is expected to trade above the key support at 1.1570. The upward momentum is further reinforced by both rising 20-period and 50-period moving averages. To sum up, as long as 1.1570 holds on the downside, look for a rebound […]
The Canadian Dollar (CAD) has remained under pressure this week ahead of the Bank of Canada (BoC) interest rate announcement today. There is a small chance that the BoC will hike today however it is widely expected to hold interest rates at 1.25% as inflation has moved closer to the 2% target and economic growth […]
West Texas Intermediate (WTI) futures are on course for the second day of gains, which have driven the price towards the upper boundary of the narrow range with a resistance level of 67.30 and support barrier of 65.75. The trading range has been standing since Monday while the oil dropped below the 67.30 hurdle and started a sideways move. The RSI […]
The US Bureau of Economic Analysis will publish its latest monthly release on personal income and outlays on Thursday at 12:30 GMT. The report will contain closely watched data on personal income and consumption, as well as the PCE measure of inflation. With market fears of a major inflation overshoot having abated recently, Thursday’s figures […]
Technical outlook: The Dow Jones has dropped almost 500 points from May 28, 2018 levels as discussed earlier. The index is looking set to break substantially lower and the break below 23,500 levels, which is interim support, would accelerate much lower. Looking into the wave structure again, the Dow Jones Index seems to have resumed […]
This is the Dukascopy Midday Snapshot for Wednesday, where we’ll take a closer look at how well the market players have worked out the rate movements. Euro/Dollar has been on a rise and it has resulted in a gain of point 86%. Traded volume is average and neutral sentiment of the market players is 8% […]
Here are the latest developments in global markets: FOREX: The single currency rebounded on Tuesday’s 10-month low near 1.1500 against the greenback (+0.67%) as concerns about Italy’s political crisis remains in focus and there is a chance of new elections taking place on July 29. In data, economic sentiment in the Euro area came in slightly higher than expected in May at 112.5 […]
Technical outlook: The US Dollar Index almost takes out resistance at 95.00 levels before giving in to bears yesterday. As seen on the daily chart presented here, the index is forming an engulfing bearish candlestick pattern and should be looking to drop lower at least through 92.70 levels going forward. Please note that the fibonacci […]
As previously discussed, the USD/CHF currency pair showed us an intense upward movement, where on the way reach the range resistance level of 1.0050 / 1.0100, stopping unquenchable buyers. Currently, the correction phase in the market and the pair have already reached the first value of 0.9850, which reflects the periodic level paired with the […]
Technical outlook: The EUR/USD pair was not giving up lower until major support break yesterday at 1.1550 levels. The pair managed to take out to fresh lows at 1.1510 levels before bulls took over the rest of the day. As you can see on the daily chart presented here, the pair is now forming a […]
USD/CAD recently broke above 1.2950 resistance area with a daily close after impulsive bullish non-volatile pressure. This week is going to be quite volatile and interesting for this pair as high impact economic reports and events are going to be held in the US and Canada this week, including CAD Overnight Rate and US NFP […]
Unfortunately, we can not see the end of the political crisis in Italy so far. The nominee Prime Minister Carlo Cottarelli has not presented the composition of his temporary government to the president. In addition, there is a risk that the technical government will not receive a vote of confidence in the parliament. The largest […]
It’s Wednesday and this is the Spike Controller brought to you by the Dukascopy Forex TV Team. All three averages are slightly above the point 3 pip mark for the Euro/Dollar. Peak separation has been 1.9 pips. The pair has recovered from the low of 1 1519, gaining point 81% or 93 pips. Spreads have […]
GBP/USD has been quite non-volatile within the bearish bias recently which led the price to reside below 1.3300 area. Ahead of the upcoming high impact economic reports from the US, certain bearish impulsive pressure indicates the definite trend pressure in the pair. Today, the UK BRC Shop Price Index report was published with a greater […]
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 […]
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 […]
Today’s moods in the markets after yesterday’s sale of Italian bonds are a bit calmer. Yesterday’s profitability of Italian 10-year olds to 3.35%, today drops below 3.0%, and the spread with German bunds narrows to 267 basis points. The turbulence on the Italian political scene is taking on a routine character, so the markets are […]
Morning Report: 07.00 London The euro is at least stabilising after hefty selling yesterday as traders fret over the state of Italian political and banking systems. The EUR/JPY is posting small gains this morning, but the damage was done yesterday, with the pair off by 1.58% on the week. Markets are generally seeking out safer […]
• GBP/CHF falling inside short-term impulse wave C • Further decline are likely GBP/CHF continues to fall inside the short-term impulse wave C, which belongs to the medium-term ACB correction (4) from the middle of April. The price earlier broke through the support zone lying between the support level 1.3220, support trendline from the end […]
EURUSD The EURUSD pair has slipped to the levels of July 2017 just ahead of 1.15000 support. The pair is having a relief rally this morning but price is still trading inside the down trend of recent weeks. Yesterday’s low was 1.15096 and a loss of this supporting area would see prices extend towards 1.14579 […]
Joseph Stiglitz is one of the most respected economists in the world. He currently teaches Columbia University and is also one of the few economists to receive the Nobel Memorial Prize in Economic Sciences. Joseph Stiglitz has published multiple books on economics. In 2016, he published a book on Europe and the risks posed by […]
Crude oil had one of the best months in the recent past until it all came falling down. This month, Brent and WTI crude rose to the highest level in almost four years. Brent reached a high of $80.45 while WTI reached a high of $72.86. The surge in crude oil came after Trump exited […]
Chinese official PMI data for May are scheduled for release on Thursday at 0100 GMT. Manufacturing activity, which is expected to attract most interest, is anticipated to marginally ease though still remain in expansion territory. In the bigger picture, besides data releases, trade talks between the US and China continue taking place and have the […]
The Bitcoin (BTC) has been trading upwards. The price tested the level of $7.520. Chilean crypto exchange Buda.com has launched in Argentina, initially supporting four cryptocurrencies. Already operating in three other countries, the exchange says Argentina has the potential to become its most important market in the course of a year. The technical picture on […]
Recently, the GBP/USD pair has been trading sideways at the price of 1.3260 According to the H1 time – frame, I found a potential bearish flag in creation, which is a sign that buying looks risky. My advice is to watch for a potential breakout of the upward trendline to confirm further downward continuation. The […]
