USD/JPY is expected to trade with bullish outlook. The pair is rebounding after touching the rising 50-period moving average. The relative strength index has landed on the neutrality level at 50 and is turning up. The downside potential should be limited by the key support at 109.30. Hence, as long as this key level holds […]
Our first target which we predicted in the previous analysis has been hit. Despite the recent rebound from 0.9975 (around the low of May 11), the pair is still staying below its declining 50-period moving average, which maintains the downside bias. The relative strength index is below its neutrality level at 50 and lacks upward […]
NZD/USD is expected to trade in lower range. The pair continues to show downward momentum while showing a bearish pattern of lower highs. Currently, it has returned to the levels below both the 20-period and 50-period moving averages, targeting the immediate support (first downside target) at 0.6920. The relative strength index remains subdued at the […]
Chinese data on April’s fixed asset investment, industrial production and retail sales will be made public on Tuesday at 0200 GMT. Meanwhile, the aussie, which is widely viewed as a liquid proxy for China’s economy, will also be in focus as the numbers hit the markets. The currency is currently attempting a recovery versus the […]
The UK will release its employment figures for March on Tuesday, at 0830 GMT. Forecasts point to further progress in the labor market, which would likely be encouraging news for Bank of England (BoE) policymakers, who appeared quite cautious recently. A strong set of data could revive speculation for a near-term rate increase by the […]
EUR/JPY In a bearish outlook, EUR/JPY trended downwards on Monday and Tuesday, and then started to make a rally effort. It managed to close above the demand zone at 130.50 on Friday, in the context of a downtrend. It is much more likely that the rally would end up offering a clean opportunity to go […]
GBP/JPY is expected to trade with a bullish outlook and continue its rebound. The pair is edging higher and is challenging the key resistance at 149.25. Both rising 20-period and 50-period moving averages play support roles and maintain the upside bias. The relative strength index is bullish, calling for a further upside. To conclude, as […]
USD/JPY The bias on the USD/JPY pair is bullish and the trend is still in a precarious position. Price did not go in a strong directional movement last week. It only oscillated between the demand level at 109.00 and the supply level at 110.00. A breach above the supply level at 110.00 is anticipated this […]
USD/CHF In the context of an uptrend, the USD/CHF pair went sideways last week, ranging between the resistance level at 1.0000 (previously a support level) and the resistance level at 1.0050. Eventually, price closed below the resistance level at 1.0000 on Friday, and it may even test the support levels at 0.9950 and 0.9900. There […]
Amazon stock prices have been consolidating since February 12 and have been stuck in a sideways channel with upper boundary the 1621 resistance level and lower boundary the 1353 support hurdle. The neutral picture in the medium-term looks to last a while longer after prices failed to break the upper channel on Thursday. Resistance was […]
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 Yesterday. Since April 13, […]
Daily Outlook The EUR/USD pair had been trapped between the price levels of 1.2200 and 1.2500 until bearish breakout occured recently. Significant signs of bearish reversal were manifested around the price levels of 1.2400.This was manifested in the bearish engulfing daily candlestick of April 20. The short-term outlook turns to become bearish as long as […]
Technical outlook: The US Dollar Index story continues to keep its rising trend intact, while it takes a momentary dip for now. After printing highs at 93.41 on May 09, 2014, the dollar index continues to consolidate its earlier gains, drifting lower towards a fibonacci 0.382 support at 91.80 levels and also a channel line […]
It’s 12 o’clock on this week’s first trading day, so let’s see how the sentiment of the traders compares with the actual rate shifts. Euro/Dollar has been trending slowly up, gaining 39 pips as the pair approached 1 20 level. Turnover is low and neutral sentiment of the traders is close to an even balance. […]
We are half way through the second quarter, so preliminary first quarter GDP reports will be available along with plenty of other events on this super busy Tuesday. Preliminary first quarter German GDP opens this agenda at 6 o’clock in the morning and it could potentially shake up the Single currency. Economy expanded at a […]
The major US equity indices all rose more than 2% last week, driven by buybacks and improving earnings growth. A pullback in US treasury yields and the Dollar Index also contributed to gains last week, as higher treasury yields can reduce investment in stocks with a stronger currency, making exports more costly. A continuation of […]
Here are the latest developments in global markets: FOREX: The euro headed for a third consecutive day of gains on Monday although the dollar posted some gains as well against the yen, with investors keeping a close eye on political developments in Italy, where a coalition government may be formed earlier than expected. Euro/dollar rose to to 1.1982 (+0.33%), while dollar/yen touched 109.57 (+0.16%). The […]
Technical outlook: We have presented a 4H chart view for FTSE to have a medium-term outlook, after having discussed last on April 30, 2018. The price action suggests that FTSE might have topped out at 7790/95 levels in January 2018. Thereafter, the indice has dropped lower unfolding into 5 waves (impulse) as labelled here as […]
Weekly Technical Analysis of the Forex Markets – to guide your trading using technical indicators such as moving averages, RSI, Fibonacci, Ichimoku. Related Posts:Weekly Technical Outlook: 15/04/2024 – GBPUSD, USDJPY,… April 15, 2024 Our weekly #TechnicalAnalysis looks at the key events that are…Weekly Technical Outlook – GBPUSD, USDJPY, AUDUSD April 15, 2024 Will UK CPI […]
Keep your broker in check on this week’s first trading day by watching the Dukascopy Spike Controller. Euro/Dollar’s long term average and maximum spreads are point 44 and point 8 pips respectively. The pair has once again moved towards the 1 20 level as it gained point 44% or 52 pips. Spreads have been calm […]
The new week investors begin in a cheerful mood, which is visible primarily on the stock market, but on the currency market, it turned into a drift without the advantage of the dollar, that lost the momentum which in recent weeks provided it with a clear appreciation for other currencies. The lack of negative consequences […]
Recently, the EUR/CHF pair has been trading upwards. The price tested the level of 1.1971. Anyway, according to the 30M time – frame, I found a potential end of the upward corrective structure, which is a sign that buying looks very risky. I also found a hidden bearish divergence on the MACD oscillator in the […]
The Bitcoin (BTC) has been trading downwards. As I expected, the price tested the level of $8.173. The decree to regulate cryptocurrencies and initial coin offerings in Thailand go into effect on Monday. The government has also revised the country’s tax code to add crypto taxation. Sellers of digital tokens will face a fine or […]
Last week, global stocks rose as the tensions on trade issues eased. Most gains came from the United States, where stocks rose for 5 consecutive days. One of the biggest winners was crude oil, which rose because of shrinking stocks and the crisis in the Middle East. This week, economic data and politics will continue […]
Last week, the Dow gained by 2.46% while the S&P 500 rose by 2.52%. This was one of the best performance for the indices this year. The gain was fueled by the easing trade tensions from the United States and the optimism of a faster growth. In Europe however, things were not very exciting especially […]
Last week, the GBP/USD pair – commonly known as the cable – was little changed. This came as the data on the US inflation missed analysts’ consensus and as the ongoing political problems in the UK continued. In the former, data from the labor department showed that the country’s consumer prices for April rose at […]
Recently, the USD/JPY pair has been trading upwards. The price tested the level of 109.61. According to the H1 time – frame, I found a potential contracting flat corrective phase in creation, which is a sign that selling looks risky. I also found a breakout of the supply trendline and a hidden bullish divergence on […]
Gold has been consolidating in a narrow range over the last couple of trading days with upper boundary the 1325.75 resistance level and lower boundary the 1317 support barrier. The price is moving above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart with weak momentum. In the short-term, prices rebounded on the […]
Analysis of wave counting: Throughout the past week, the GBP/USD pair has not been able to determine the direction of the movement, trading before the close of the Friday session, mainly between the level of 1.3600 and the mark of 1.3460. It can be assumed that the currency pair began to make attempts to complete […]
These are the Dukascopy Daily Trading Signals for Monday. Here’s how the interbank compares with technicals at 8 AM GMT. Euro/Dollar’s 1 and 4 hour charts are dominated by green signals, but daily outlook shows mixed results with 4 sell and 4 neutral prompts. Interbank sentiment is bearish at 28% short. Pound/Dollar’s short and mid […]
