USD/JPY The bias on the USD/JPY pair has turned completely bearish and the market is supposed to be going downwards, reaching the demand levels at 109.50 and 109.00. About 180 pips have already been lost this week, and the market may even go lower than that. The strength of JPY has already been showcased on […]
USD/CHF In spite of the bullish effort that was made on Wednesday, the outlook on the market is now bearish (especially in the short-term). The support level at 0.9900 has been tested and it would be tested again, partly owing to some stamina in CHF. That support level can even be breached to the downside. […]
https://pepperstone.com/en/forex-news/market-review – FX Majors TRY and fightback led by the Yen -Turkey raises rates sharply to support the Lira. -FOMC minutes dovish? but rates are still likely to rise. -Singapore GDP revised higher. -Which EMs are most exposed to foreign debt? The overnight changes and price moves to be aware of by Pepperstone’s Market Analyst, […]
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The wave pattern of the D1 graph: The downward trend in the chart of the index observed since December 2016. In a larger wave model, this site took the place of the final part (C). Since January of this year, quotes are being rolled up, forming an intermediate correction within the wave. The wave pattern […]
EUR / JPY pair The resistance, which is previously designated in the area 131.19-33 (weekly Tenkan + day Kijun), coped with the task and did not allow players to rise in realizing the release from the support of the weekly cloud (Senkou Span A 130.70). Yesterday, the pair closed the day below 130.70, returned to […]
Data released in the first half of the day on the economy of the euro area and the UK exerted serious pressure on the euro and the British pound, allowing US dollar buyers to further increase their long positions before the publication of the Federal Reserve’s protocols, from which many are waiting for signals in […]
To open long positions for EURUSD, you need: The formation of a false breakdown at 1.1747 is the only thing that will maintain the growth of the European currency, which will lead to a second attempt to get to the resistance level of 1.1786. This can be added to long positions in expectation of renewing […]
Contrary to the US dollar not getting tired of gaining momentum, gold managed to push off from the five-month bottom against the backdrop of growing demand for safe haven assets. According to US Treasury Secretary Steve Mnuchin, Washington’s intention to put a trade war with China on a pause, the temporary cancellation of import duties […]
To open long positions for EURUSD, it is required: In the afternoon, attention was solely focused on the Fed’s protocols. Purchases can be viewed after a failed breakdown and return to the morning support level of 1.1706 or on a rebound from the new monthly lows of 1.1673 and 1.1639. In the event of securing […]
To open long positions for GBP/USD, it is required: The pressure on the pound remained and it is better not to rush in buying the pound after the inflation data. Buyers can only expect the support area of 1.3335, but it is best to buy the pound on the rebound from the support of 1.3309. […]
Earlier, we already discussed that the upward movement is overheated behind more than 800 points of the vertical stroke. It is where the quotation reached an important range level of 1.0050 / 1.0100, after which it slowed down the movement. As of this writing, we see how the periodic value of 0.9960 fell, which previously […]
Burning forecast 23.05.2018 EUR USD: the levels for a breakthrough are ready. On Wednesday, 23.05 in the evening the Fed minutes at 18.00 London time. Perhaps this will awaken the market from the stagnation of recent days and push it out of the range. More likely a breakthrough to the top of the zone 1.1830-1.1850 […]
The oil market feels very confident. A barrel of Brent crude oil is traded in the area of $ 79, while WTI fluctuates around 72 points. Aggravated relations between the US and Iran, as well as the results of elections in Venezuela give impetus to oil quotes, but not all commodity currencies take advantage of […]
A stronger US currency may have brought a smile to the face of policymakers in Japan and the Eurozone, as their export-reliant economies stand to benefit from a weaker exchange rate, but the dollar rally of the past month has generated unwelcome volatility for emerging market (EM) currencies, raising concerns of a new EM crisis. […]
The official record of the European Central Bank’s monetary policy meeting in late April will be made public on Thursday at 1130 GMT. In FX markets, it will be interesting to see whether the release can put an end to the intense selling pressure the euro has been facing recently relative to majors including the […]
Yesterday, the UK parliament held its inflation hearings with the Bank of England (BOE) officials. The meeting resulted in a few headlines with the main one being the hawkishness of key officials. One of them said that he expected the central bank to hike 6 times in the next three years. As a result, the […]
The manufacturing industry is one of the major backbones of all countries. It is through manufacturing that raw materials produced by the countries are converted to finished products. This makes products readily available to consumers and create jobs to the residents. As such, the role of the manufacturing industry cannot be understated. Policymakers, traders, and […]
Copper is one of the most important metals in the world. Its unique characteristics as a good conductor of heat makes it a valuable resource in the manufacture of electronics and other items. An improving global economy leads to an increased demand for these electronics which in turn leads to its increased price. Recently, the […]
Let’s take a look at the potential FX market movers scheduled for publication on Thursday, the 24th of May. A couple of German releases open this agenda at 6 AM, including the final GDP stats for the first quarter. According to preliminary report, growth slowed down to point 3%, which was the slowest pace since […]
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CADJPY is having an aggressive bearish run during Wednesday’s trading session and is set to complete the seventh red candle in a row in the 4-hour chart. The price has extended its losses below the significant 23.6% Fibonacci retracement level of the upleg from 80.53 to 87.10, around 85.55, while it slipped below the 85.30 barrier as well, creating a new two-week […]
Recently, the Gold has been trading upwards. As I expected, the price tested the level of $1,298.00. According to the H1 time – frame, I found a broken ending diagonal in the background, which is a sign that buyers are in control. I also found a broken intraday bullish flag, which is another sign of […]
Recently, the GBP/USD has been trading downwards. As I expected, the price tested the level of 1.3346. According to the H1 time – frame, I found a breakout of support trendline in the background, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities on the rallies. […]
The Bitcoin (BTC) has been trading downwards. As I expected, the price tested the level of $7.772 and met my yesterday’s target. The Chilean president, Mario Marcel, has made comment seemingly in favor of developing a regulatory apparatus for virtual currencies. The apparent openness to regulating cryptocurrencies contrasts significantly from the recent banking embargo targeting […]
DOLLAR GOLD PRICES came within $2.25 of $1300 per ounce in London on Wednesday morning, rallying even as the US currency rebounded on the FX market ahead of today’s release of notes from the Federal Reserve’s latest meeting on interest-rate policy. That helped drive Euro gold prices back up towards early May’s 8-month highs […]
FX markets have shown sharp rate shifts on this morning session, so let’s see if traders have managed to profit. Euro/Dollar took a slide of close to 100 pips and the pair stood point 75% in the red at noon. Turnover is high and neutral sentiment of the market players is 4% long. Steep decline […]
Here are the latest developments in global markets: FOREX: The spur from optimism in US-China trade talk was weakened quickly today and the markets are trading lower. The Japanese yen surged broadly today and was trading as the strongest one against major currencies. Dollar/yen plunged by 1.12%, slipping below the 110.00 handle ahead of the FOMC minutes later […]
USDTRY surged to break yet another all-time high on Wednesday, at 4.9270, before it pulled back somewhat towards the 4.8500 area. The pair is set to complete its fourth straight week of advances, and while it may correct slightly lower in the next days since the latest up-move seems a little overextended, the broader bias […]
To open long positions for GBP / USD pair, you need: Only the formation of a false breakout in the area of 1.3391 will be a signal to buy the pound. In a different scenario, the new long positions of GBP / USD pair are best seen after the update of the next lows around […]
