Technical outlook: The EUR/USD pair finally looks to stage a counter trend rally towards the 1.1950/1.2050 levels from here. In the immediate short term outlook, the pair should be looking to take out the 1.1750 levels, which is short term resistance. Then expect a dip towards the 1.1670/80 levels, before the counter trend rally gains […]
According to the 4-hour chart, gold is still moving in the bearish bias. After the price touches the previous resistance, it seems gold now wants to try to re-test again this level again in a few days ahead if Gold does not break out and closes above the $1,305.75 level. Meanwhile, the precious metal is […]
Wave C/ of ii/ is now in its final stages and a low could be found anytime. However, as long as the minor resistance at 1.6938 is able to cap the upside, we could still see a final dip to the ideal target for the wave C/ of ii/ at 1.6806 where a low is […]
(Disclaimer) The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Analysis of GBP/USD on April 26th. The pound trades on… April 26, 2024 The wave analysis for the GBP/USD pair remains quite complex,…GBP/USD: trading plan for the US session on April 26th… April 26, 2024 In my morning forecast, I paid attention to […]
Today, the euro zone and the US will not release any economic data. So amid the empty economic calendar, the EUR/USD pair seems to move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.1745. Strong Resistance:1.1738. Original Resistance: 1.1727. Inner Sell Area: 1.1716. Target Inner Area: 1.1688. Inner Buy […]
With the direct decline to 127.11, we need to reconsider the potential downside for now. If the wave C/ had dropped to 127.06, the wave A/ and C/ would have been exactly equal in length. As EUR/JPY turned almost exactly from the equality target at 127.06, we will have to consider the wave Y and […]
In Asia, Japan will release the SPPI y/y. The US today will not release any economic data. So, amid the empty economic calendar there is a probability the USD/JPYpair will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance. 3: 109.99. Resistance. 2: 109.77. Resistance. 1: 109.56. Support. 1: 109.30. Support. […]
Overview: The NZD/USD pair didn’t make a significant movement last week. Hence, the bias remains bullish in the nearest term testing 0.6997 or higher. The NZD/USD pair will continue rising from the level of 0.6921 in the long term. It should be noted that the support is established at the level of 0.6921 which represents […]
Overview: Pivot: 0.7613. The AUD/USD pair continues to move downwards from the level of 0.7613. The pair dropped from the level of 0.7613 to the bottom of around 0.7413 (the double bottom). But the pair has rebounded from the bottom of 0.7413 closer to 0.7561. Today, the first support level is seen at 0.7508, the […]
USDX is rallying and looking to break the highs from May 23. Such move is opening the doors for testing the support area at 94.88, which should favor to the bulls in the short-term. However, there is still a bearish risk for the index to test the 200 SMA on H1 chart and in case […]
GBP/USD is closing the week within a bearish tone after having found resistance at the highs from May 24. The support zone of 1.3342 is now being challenged and it seems we can expect a decline to test the 1.3264 level, which should strengthen the bearish bias in the short-term. MACD indicator stays in the […]
Between President Trump’s decision to cancel the historic U.S. – North Korea Summit and the call for a no-confidence vote against Prime Minister Rajoy in Spain, politics rocked the forex market last week with dollar bulls losing control. After rising for 8 weeks straight and hitting a 4-month high on Monday, USD/JPY sank below 110 […]
Between President Trump’s decision to cancel the historic U.S. – North Korea Summit and the call for a no-confidence vote against Prime Minister Rajoy in Spain, politics rocked the forex market last week with dollar bulls losing control. After rising for 8 weeks straight and hitting a 4-month high on Monday, USD/JPY sank below 110 […]
Between President Trump’s decision to cancel the historic U.S. – North Korea Summit and the call for a no-confidence vote against Prime Minister Rajoy in Spain, politics rocked the forex market last week with dollar bulls losing control. After rising for 8 weeks straight and hitting a 4-month high on Monday, USD/JPY sank below 110 […]
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In light of this week’s rally in gold prices, it’s worth talking about precious metals. ElliottWaveTV asked our Metals Pro Service editor, Tom Denham, to explain how he picks the best opportunities for subscribers. Editor’s note: In the full version of this interview, Tom gives you his long-term forecast for gold and explains which of […]
Private gold investing sinks as stock market teeters… PRIVATE INVESTOR interest in gold has collapsed in 2018, writes Adrian Ash at BullionVault. Any dealer tells you otherwise, they’re lying. What began as a Trump slump for US gold coin sales in 2017 has now spread to retail gold bar investing demand in […]
EUR/JPY After ranging in the first few days of this week, the EUR/JPY pair broke out significantly in favor of bears. About 300 pips have been shed from the high of this week, and the bias on the market has become essentially bearish. There could be occasional upwards bounces along the way, but price is […]
USD/JPY The USD/JPY price dropped by 220 pips this week, to test the demand level at 109.00. Price bounced upwards after testing that demand level, but it would come back to test it again, dropping below it and targeting another demand level at 108.50. That means the current upwards bounce is a good opportunity to […]
USD/CHF The bias on the USD/CHF pair has turned bearish. Price went seriously southwards this week, testing the support level at 0.9900. The support level has been tested several times without price staying below it. The reality, however, is that, price will eventually drop below it, and continue going further southwards. There is a Bearish […]
Trump and the Bear make for an uncertain week ahead. Why trade with ETX Capital? – http://www.etxcapital.co.uk ETX Capital is one of the leading providers of spread betting, CFDs and forex trading services for retail, HNW and institutional clients. Based in the City of London, ETX is a member of the London Stock Exchange and […]
London gas oil futures for June delivery (GSOIL) have been running inside an ascending channel since mid-February, touching an all-time high of 704.13 on May 17. While the rally has stalled since then, with the price set to close at 10-day lows today, the market continues to hold far above the Ichimoku cloud and its […]
Gold prices are practically flat in 2018, as concerns around geopolitics and trade that would typically boost demand for the precious metal have been counterbalanced by a resurgent US dollar. While more dollar strength may keep gold under some pressure in the near-term, it would not be surprising to see the metal come back in […]
US economic data will return to the forefront next week, with the nonfarm payrolls report being the main focal point. The Bank of Canada will be the only major central bank holding a policy meeting, while Canadian GDP figures will keep the loonie under the limelight. The other highlights will come from the Eurozone flash […]
The US 500 index is trading not far below May 14’s two-month high of 2,741.40. Throughout the last couple of weeks the index has been largely moving sideways. The RSI, which has also been moving sideways to a large extent recently, is painting a mostly neutral picture in the short-term. Immediate resistance to advances may […]
This is just a quick update as Monday should be an extremely light trading day due to market holidays in major markets. First of all, it’s Memorial Day in the US, honoring those who have died while serving the US military. No trading in the UK as well, due to Spring Bank Holiday. The only […]
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 was flat for hours, but a late decline puts the pair point 46% in the red. Turnover is high and neutral sentiment of the traders is 2% short. Late decline puts […]
GOLD PRICES held above $1300 per ounce in London trade Friday, erasing half of last week’s 2% drop even as the Dollar rose again on the FX market amid fresh tensions between Nato members Turkey and the US plus growing doubts over the debt stability of Italy, the Eurozone’s third largest economy. Euro gold […]
Here are the latest developments in global markets: FOREX: The US dollar rose 0.18% versus the yen after three straight days of declines. Meanwhile, the US dollar index jumped by 0.13% to 93.87. Euro/dollar fell by 0.09% and is set to complete the sixth week of declines in a row as concerns over Italy’s debt outlook weighed on sentiment. Pound/dollar moved lower by […]
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 […]
