The Dollar index is bouncing after a couple days of a bearish reversal towards 92. I do not expect the index to make new highs. Resistance by the Ichimoku cloud is at 92.90 and I expect the price to get rejected there today and turn lower. Support is at 92.25-92.15. My first target for this […]
GBPUSD has been underperforming in the past eight days as it has failed to post a significant day of gains or losses. The pair is consolidating slightly above the 38.2% Fibonacci retracement level of 1.3510 of the upleg from March 12 to May 15. Last Thursday, the cable recorded a fresh four-month low of 1.3459, while at […]
Gold price pulled back yesterday, but as we previously said, any pullback is seen as a buying opportunity for Gold as long as the price is above $1,300. Gold price should find support at $1,307 and start the next big bounce towards at least $1,330. Black line – support trend line Green line -RSI support […]
China was one of the top stories overnight, as Moody’s released their analysis on the China/US trade war. They believe that China is unable to meet the US request to reduce its trade surplus “by $200B by 2020 without causing significant disruptions to its economy”. They also believe that this measure would be incompatible with […]
We would like to inform our clients that due to the Norwegian Constitution Day, Whit Monday, Buddha’s Birthday, Spring Bank Holiday and Corpus Christi, all of which will take place in May, the trading hours of various instruments will be affected on 17, 21, 22, 28 and 31 May 2018. Please review the tables below […]
EUR/NZD – 4 Hourly The long-term uptrend from 1.4536 remains firmly in place. We are currently looking for a break above the neckline resistance at 1.7310 and more importantly a break above resistance at 1.7480 that triggers the two years S/H/S bottom for a continuation higher towards the measured target at 2.0010. Zooming in on […]
The Crude Oil still moving in Bullish bias but We’ve spotted the Stochastic Oscillator already making a Divergence between the price as long the support level 66,65 not be breakout the next down movement its only a correction from the up movement and give a chance for the Crude Oil to continue they’re up movement […]
EUR/JPY – 4 Hourly The corrective rally from 129.20 extended to test the 50% corrective target at 131.27 (the high was seen at 131.37). The following decline does look constructive, but it is not yet in five waves. To confirm a five wave decline, EUR/JPY need to stay below minor resistance at 131.13 and break […]
Morning Report: 07.00 London This morning, the euro is retreating again after reaching a high tide just shy of 1.2000 yesterday. The euro popped higher and subsequently retreated on comments from ECB member Villeroy indicated that a rate hike was on the cards sooner than expected. The EUR/USD is on the back foot, while the […]
Overview: The USD/CHF pair is still moving around the spot of 0.9993 (pivot). The bias remains bullish in the nearest term, testing 1.0134 or higher. The price is still moving around the major support of 0.9933. The USD/CHF pair follows a bullish trend from the support levels of 0.9945 and 0.9993. Currently, the price is […]
Overview: The USD/CHF pair has faced strong resistance at the levels of 0.6935 because support had become resistance yesterday. So, the strong resistance has been already formed at the level of 0.6935 and the pair is likely to try to approach it in order to test it again. However, if the pair fails to pass […]
Impulsive, strong, upward movement pleased traders since the month of February, issuing a result of more than 800 points of the move. It was affirmed to be overbought for a long time. Upon analyzing the last month, an impulse move can be seen without pullbacks and no significant stops. Now, the quotation was able to […]
After the significant downward movement, the GBP/USD currency pair approached the range level of 1.3440 (1.3440 / 1.3480), where it reach the support level and formed a slowdown in the form of a small flat 1.3480 / 1.3610. Now, we continue to move within the prescribed limits (1.3480 / 1.3610 and consistently working through the […]
EUR / JPY Higher timeframes Last week, the struggle against the support of the upper boundary of the day cloud enable the players gained the victory. They managed to form a retreat and close the week above the level. As a result, the main current task for players to increase is the development of the […]
At the end of December last year, an example of the single European currency technical analysis in the long-term outlook in January 2018 using the Tom DeMarq sequent technique https://www.instaforex.org/en/forex_analysis/196443, showed a radical change in the bearish trend of the euro. But a few months passed before we received a second signal of this trend […]
The upward correction in the European currency continued on Friday amid a lack of good fundamental statistics on the US economy, as well as rather restrained statements by the representatives of the Federal Reserve, in particular James Bullard, who stated that it was necessary to “slow down” with the increase in rates. According to the […]
Profit-taking on long positions in the US dollar allowed the “bulls” to go to a counterattack on the GBP/USD. The May meeting of the Bank of England did not bring serious dividends to the British pound, which its fans already expected. Despite the BoE’s desire to raise its REPO rate to 1.25% by 2020, the […]
The European currency continued to strengthen its position against the US dollar and a number of other world currencies due to good geopolitical news, as well as statements by representatives of the ECB. In the first half of the day, a statement was made by the head of the Bank of France, he said that […]
To open long positions for EURUSD, you need: Buyers are trying to get hold of the support level of 1.1975 and while the trade is above this range, demand for the euro will continue with the main objective of renewing the resistance level of 1.2019, where it is recommended to lock in profits. If the […]
To open long positions for GBP / USD, you need: Buyers of the pound managed to reach the resistance level of 1.3591. However, it is impossible to get higher. Only a real breakthrough will lead to a larger upward wave in the pound with a renewal at the resistance areas of 1.3639 and 1.3689, where […]
Dear colleagues. For the EUR / USD pair, we have expanded the potential for the upward structure from May 9 to the level of 1.2100. For the GBP / USD pair, we expect a correction in the aftermath of the breakdown of 1.3614. For the USD / CHF pair, we follow the formation of the […]
Analysis of wave counting: During the last day of the previous week, the USD/JPY pair held within a fairly narrow price range, limited by the levels of 109.15-109.55. It can be assumed that, despite such low market activity, the currency pair remained in the stage of formation of the internal wave structure of the third […]
Analysis of wave counting: As expected, the USD/CHF pair started trading on Friday with a downward movement and after losing about 60 percentage points, finished the day near the level of price parity. The resulting wave situation makes it possible to assume that the currency pair confirms the transition to the stage of formation of […]
Analysis of wave counting: Starting Friday’s trading with the upward movement, the GBP/USD pair, however, could not overcome the level of the 36th figure and completed the day at 1.3540. It can be assumed that the currency pair has made another attempt to complete wave a and go to the stage of formation of the […]
To open long positions on EURUSD, it is required: It is possible to expect the continuation of the euro’s growth after the break and consolidation above the resistance level 1.1975, which will open the way for new highs in the area of 1.2019 and 1.2102, where it is recommended fixing profits. In case of a […]
To open long positions on GBP/USD, it is required: Reduction and formation of a false breakdown at 1.3541 will be the first signal to buy pound. If there is no demand for 1.3541, one can look at long positions after the 1.3500 support test with a short stop order below. The main task of buyers […]
Analysis of wave counting: The incomplete calculation target in the area of 110.25 during the trades of last week did not allow the USD/JPY pair to reverse the dollar and on Thursday the price returned to the previously reached highs near the level of the 110th figure. At the same time, it can be assumed […]
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On Tuesday, retail sales data due out of the US at 1230 GMT are expected to show that demand for goods continued to lose momentum in April, after being on the back foot the past three months despite consumers and businesses enjoying lower taxes since the start of the year. Following disappointing CPI figures released last week, […]
GOLD PRICES stayed flat against a weak US Dollar on Monday in London, holding around $1319 per ounce as violence flared in Jerusalem, where the United States today opened its Embassy to Israel, moving it from Tel Aviv, writes Steffen Grosshauser at BullionVault. Press reports said 41 Palestinians were killed and 1,700 injured as […]
