USD/JPY Since testing the supply level at 110.00, this market has been getting corrected lower. The correction has become serious enough to threaten the recent bullish bias. Price is currently going below the supply level at 109.00 (a 130-pip retracement from the supply level at 110.00), going towards the demand level at 108.50. Should price […]
USD/CHF This currency trading instrument has already tested the psychological level at 1.0000, and it is yet to go above it. Price would eventually go above that psychological level, targeting the resistance level at 1.0050. The USD/CHF pair has gone upwards this week, and this seems to be the beginning of a great bullish momentum […]
The selling pressure remains as the main headliner across the board for GBP/USD, as the momentum is easing. It seems we could expect a leg lower to test the support level of 1.3480. The 200 SMA continues to provide a guide for the overall path, so it could act as a dynamic resistance when it […]
GOLD PRICES rose Friday against all major currencies except the US Dollar and Japanese Yen as new data showed unemployment in the United States falling to a new 17-year low. Both the total of jobs added and average pay growth failed to meet analyst forecasts for April. But as more people left the […]
7th of May is a market holiday in the UK, so trading could be lighter than usual on this Monday, but here are the events that could be useful for your trades. German Factory Orders for March open this agenda at 6 o’clock in the morning. Orders increased slightly in February after dropping by 3 […]
The US 30 index has been losing steam recently. It was rejected from its 100-day moving average (MA) on April 18 and has edged lower since, finding support near the 23,520 zone on May 3, and subsequently rebounding to close the day just above its 200-day moving average. A cautiously negative picture is also supported […]
Overview The Gold price shows expected bearish bias after testing 1,316.48 level, on its way to test 1,301.20 level in the upcoming sessions, noting that these levels represent the next trend keys, thus, the price needs to breach one of them to detect its next targets clearly. Therefore, our neutrality will remain valid until now, […]
Overview Silver price fluctuates around the EMA50, and the price gets positive signals through stochastic that might push to achieve more intraday gains. Until now, the sideways range still dominant on the intraday basis, as the price fluctuates between 16.15 support and 16.80 resistance, waiting to succeed to surpass one of these levels to detect […]
Trading plan 04/05/2018 The general picture: The market stopped in anticipation of events. The wave of the dollar strengthening has temporarily stopped. On the one hand, the Fed has not shown a firm commitment to steadily raise the rate. On the other hand, inflation in Europe unexpectedly declined in April, which gives the ECB a […]
The morning session is over on this Friday; let’s look back at rate FX movements and trader expectations. Euro/Dollar’s day has been relatively slow as the pair has traded in a total range of 40 pips, while attracting 30% less than typical funds. Neutral sentiment of the traders is 3% short. No significant moves in […]
Trading today will be dominated by the release of the U.S. employment report, which is expected to show that job creation accelerated while wage inflation held steady for the year. Non-Farm Payrolls numbers for April are expected at 192K versus a prior 103K and Average Hourly Earnings are expected to be unchanged at 2.7%. The […]
Watch our ”Weekly Forex Review and Outlook” to catch up on the past week’s main events and their impact on major currencies and also find out what important economic data will be coming up in the future. Related Posts:GBP/USD: Will sterling hold steady against dollar? April 15, 2024 The UK economy is recovering from a […]
The Bank of England’s monetary policy meeting looks set to be the main highlight of the coming week amid a sudden reversal of rate hike expectations. The Reserve Bank of New Zealand will also be holding a policy meeting. Eurozone data will be sparse but US inflation indicators, Chinese trade figures, Australian retail sales and […]
GBPAUD bounced up after it hit a 6 ½-week low of 1.7964 today as the RSI inched down to oversold levels, signaling that the recent downfall could be overstretched. The RSI is now back above 30 and is moving upwards, while the MACD is still in negative territory but is pushing up momentum to cross above its red signal […]
Bitcoin has been quite impulsive with the bullish gains recently. Yesterday, the price approached the psychological level of $10,000. Currently the price is residing above $9,600 area from where it is expected to reach $10,000 area. Later if it breaks above $10,000 with a daily close, further bullish pressure is expected to push the price […]
The March reading of retail sales from Eurozone is a disappointment. Despite expectations for a seasonal sales jump by 0.5%, official figures show an increase of only 0.1%. Revision of February data from 0.1% up to 0.3% it is a mild consolation. Similarly to other parts of Europe, lower temperatures in March delayed the sale […]
NZD/USD has been quite impulsive, following the bearish trajectory since it broke below 0.7150 support area with a daily close. After the impulsive break below the area, the pair lacks bullish pressure to make the price retrace higher towards 0.7150 area. NZD has been quite positive amid the recent economic reports, including Employment Change report. […]
Strengthening data from the US amid disappointments in other corners of the world is behind the recent wave of shortening of short positions in USD, hence today’s report on the market is important for the further direction not only of the currency market but also the general attitude to risk. Especially stressing the discrepancy in […]
Recently, the EUR/JPY pair has been trading downwards. The price tested the level of 130.79. According to the H4 time – frame, I found a successful breakout of a rising wedge in the background, which is a sign that sellers are in control. I also found a failed pinbar, which is a sign that buyers […]
The EURJPY pair fell further this week, breaking its moving averages after moving below its uptrend line last week. The 130.000 level is now the next support area traders are watching. A loss of this area puts the focus on the previous lows at 129.604 and 128.943. A move down to 128.783 could find buyers […]
Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback’s strength versus six major currencies, edged higher by 0.20% during the European session to 92.55, approaching the four-month high of 92.63 reached on Wednesday. Euro/dollar remained under selling pressure after Eurozone’s retail sales and final services PMI figures were weaker […]
AUD/JPY has been quite corrective and volatile recently at the edge of breaking below 82.00 price area recently. Recently, AUD has been quite strong amid economic reports but that did not help the currency to gain over JPY so far. Today, RBA Monetary Policy Statement report was published which turned out to be quite neutral […]
Recently, Gold has been trading sideways at the price of$1,309.00. According to the H1 time frame, I found that Gold is trading inside of the upward channel (a potential bearish flag), which is a sign that selling looks risky. I also found a potential expanding diagonal pattern, which is another sign of weakness. My advice […]
The Bitcoin (BTC) has been trading upwards.The price tested the level of $9.763. A digital asset smart banknote manufacturer has launched bitcoin banknotes at a store in Singapore. Designed to make owning and circulating cryptocurrencies as easy as using paper money, they are currently available in denominations of 0.01 and 0.05 BTC.Technical picture on Bitcoin […]
We’ve reached the end of the trading week and you’re watching the Dukascopy Spike Controller. Euro/Dollar’s long term average spread is point 35 pips and peak separation has been 1.1 pips. Trend has shifted here and the biggest move was a rise of point 47% or 56 pips as the pair rose above the 1 […]
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On 21st July, XM continues its seminar series in the Philippines by reaching the city of Cebu, where forex instructor Jonathan Lou Reyes and our company representatives look forward to welcoming event guests for yet another seminar designed to provide practical guidance to online investors. The seminar titled The Basics of Forex Trading will not […]
Overview: As expected, the NZD/USD pair faced resistance at the level of 0.7089, while minor resistance is seen at 0.7049. Support is found at the levels of 0.6955 and 0.6906. Pivot point has already been set at the level of 0.7049. Equally important, the NZD/USD pair is still moving around the key level at 0.7049, […]
Overview: The USD/CHF pair is still trading between the levels of 0.9927 and 1.0003. The USD/CHF pair will continue to rise from the level of 0.9927. The support is found at the level of 0.9868, which represents the 61.8% Fibonacci retracement level in the H1 time frame. The price is likely to form a double […]
When the European market opens, some economic data will be released such as Retail Sales m/m, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, Spanish Services PMI, French Trade Balance, and French Gov Budget Balance. The US will release a series of importanrt data on the labor market such […]
