Friday starts stable on the currency market with minor movements among the main currencies. The focus is on the US-China trade negotiations, where chances of agreement are growing. The stock market is moderately optimistic: Shanghai Composite grows 0.3% and Nikkei 225 gains 0.4%. Gold is not going too far to $1,290 and WTI crude is […]
Gold price remains near its weekly lows. Gold price has reached important support area and could start a reversal from current levels. Gold price is testing important weekly cloud support. I’m bullish at current levels but I would get aggressively bullish above $1,300. Red line – long-term resistance Blue line – medium-term support Green line […]
USDCAD has been trading within the 20- and 40-day simple moving averages since Thursday’s session with weak momentum. The pair plunged below the 50.0% Fibonacci retracement level of 1.2925 of the downleg from 1.3800 to 1.2060 and is still holding above the 38.2% Fibonacci mark of 1.2725 during the current week. Looking at the daily timeframe, based […]
EURUSD: Trade at breakout of the range. The euro chart has formed a range within the limits of 1.1760 – 1.2000 There are no strong expected news. China moved to meet Trump on the issue of trade disputes – proposing to reduce the US trade deficit by increasing China’s imports by $ 200 billion a […]
AUD / USD According to the data released on Thursday, the unemployment rate in Australia rose from 5.5% to 5.6%, which contributed to the decline of the Australian currency by symbolic 5 points. However, the AUD / USD grew during the US session in the first half of the day . The employment structure was […]
Overnight US Trade Representative Lighthizer issued a statement saying that the U.S., Mexico and Canada are “nowhere close to a deal”. This was counter to the statement by Canadian PM Trudeau yesterday who said “We’re very close” when asked about progress. The US had set a deadline for NAFTA to be agreed on by yesterday, […]
On the 4 hour charts, we can see the bias from the Crude Oil still in Bullish condition, and more interesting, we’ve found the Ascending Triangle continuation pattern at #CL, but in a few days, there is a possibility of correction but as long as they do not break and close bellow the 70.25 level, […]
When the European market opens, some Economic Data will be released such as Trade Balance, Current Account, German WPI m/m, and German PPI m/m. The US today will not release any Economic Data, so amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Breakout BUY Level: […]
In Asia, Japan will release the National Core CPI y/y, but the US today will not release any Economic Data. So, there is a probability that the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 111.52. Resistance. 2: 111.30. Resistance. 1: 111.08. Support. 1: 110.81. Support. 2: […]
As the bears gain traction by break support at 1.7056 the corrective pattern in the wave ii/ shifts towards an expanding flat correction, which will be calling for a dip closer to the 1.6919 – 1.6955 area before the wave ii/ finally completes and the wave iii/ higher towards the important resistance at 1.7310 takes […]
As EUR/JPY unexpectedly took out minor resistance at 130.73, we were told, that the wave iv is still developing and the final decline in the wave v closer to the target-area between 123.33 and 125.32 is being delayed. Yesterday we said, that a break above minor resistance at 130.73 would call for a more complex […]
Overview: Pivot point: 1.2862. The USD/CAD pair has risen from the level of 1.2728 towards 1.2867 this week. Now, the current price is set at 1.2870. On the H1 chart, the resistance is seen at the levels of 1.2894 and 1.2939. Besides, the weekly support 1 is seen at the level of 1.2791. Today, the […]
https://pepperstone.com/en/forex-news/market-review -FX quiet overnight with USD INR the only major mover. -US 10 year yields hit 3.10% in Asia, USDX is largely unmoved. -Brent Crude tests above US$80.00 pb. -Trump tries to coax North Korea back to the table. -Japanese inflation receded in March & is well below BOJ targets. -Mexican rates remain on hold. […]
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EUR/JPY There are still mixed signals in the market. The EMA 11 is slightly below the EMA 56, and the RSI period 14 is slightly above the level 50. It may be prudent to stay away from this market until there would be a directional movement in it. At least, in the short-term, nothing has […]
USD/JPY The USD/JPY continues going upwards. This is a bullish market, and the price is supposed to go further and further upwards (it has gained 155 pips so far this week), and it may reach the supply levels at 111.00 and 111.50, possibly going further than that. Short trades are not recommended here until there […]
USD/CHF The situation on the market remains unchanged. The USD/CHF has been consolidation for about 2 weeks – in the context of an uptrend. A movement to the upside would strengthen the bullish bias, while a movement to the downside will render it invalid. A rise in volatility is expected today or next week. There […]
EUR / USD As a result of the bearish divergence and subsequent long consolidation, the victory still gained by the players. The decline turned out to be active and productive. The players on the slide reached the descending target on the break of the day’s cloud, pierced it, worked in the ascending correction retest and […]
In the previous review, it is said that the USD/CHF pair overheated and gained more than 800 points of vertical line since February. The price reached an important range level of 1.0050 / 1.0100, where it even managed to have a roll back for a while. But the “bullish” interest does not recede and the […]
Eurozone Macroeconomic indicators do not provide any support to the euro, despite the fact that they are published in line with expectations. Preliminary data on GDP growth rates in Q1 amounted to 2.5%, which is an excellent result against the backdrop of a six-month slowdown in the main research on business activity in the Eurozone. […]
To open long positions for EURUSD, it is required: It is best to consider long positions for the euro after returning to the resistance level of 1.1808, from which we can expect a repeated upward trend in the area of 1.1850 with an exit to 1.1889. In case the euro declines in the second half […]
To open long positions for GBP/USD, it is required: It would be best to consider buying the pound after the return and consolidation in the middle of the channel of 1.3529, which opens a direct road to its upper limit of 1.3600, where I recommend profit-taking. In case the pound drops in the afternoon, you […]
Talks about the fact that the two populist parties in Italy are developing an agreement on a coalition government, can undermine the strength of the euro, gaining momentum. Some analysts believe that the new government may require the European Central Bank to write off a significant part of the country’s debt, which could seriously affect […]
GBP/JPY Yesterday, the players were on the raise, thanks to the combination of supports (the lower bounds of the clouds of the lower halves + the final boundaries of the gold cross N4), led by daily Tenkan (148.16), were able to maintain a daily short-term advantage. As a result, today we see a continued increase, […]
Burning forecast 5/17/2018 EURUSD: The market turns to growth. The main theme remains the growth of yields on US government bonds. Ten-year US government securities reached a profitability of 3.1% – the yield of 30-year securities is also growing. This, on the one hand, attracts investors – amidst a clear stagnation in the US stock […]
Canada will see the release of both inflation and retail sales figures on Friday at 1230 GMT, with investors looking eagerly for signs of further economic recovery that could increase chances for a tighter monetary policy this year, given the Bank of Canada’s data dependence. Forecasts are for headline inflation to remain elevated above the mid-point of the BoC target range in April, while […]
All our upside targets which we predicted in previous analysis have been hit. The pair is still trading in a higher range and expected to continue the upside movement. USD/JPY is proceeding toward the overhead resistance at 111.00 while being supported by the ascending 20-period moving average, which has just crossed above the 50-period one. […]
USD/CHF is expected to trade with a bullish outlook. The pair is consolidating above the key support at 0.9980 (lows of May 15 and 16), which should maintain the buying interest. The relative strength index stands firmly above its neutrality level at 50 and lacks downward momentum. Hence, as long as 0.9980 holds on the […]
EUR/JPY There are mixed signals in the market. The EMA 11 is slightly below the EMA 56, and the RSI period 14 is slightly above the level 50. It may be prudent to stay away from this market until there would be a directional movement in it. There are no many fundamental factors expected today […]
USD/JPY This is a bullish market, and price is supposed to go further and further upwards (it has gained 150 pips so far this week), and it may reach the supply levels at 111.00 and 111.50, possibly going further than that. The EMA 11 is above the EMA 56, and the RSI period 14 is […]
