Recently, the Gold has been trading upwards. The price tested the level of $1,317.65. Anyway, according to the M30 time frame, I found a potential end of the upward correction (ABC flat), which is a sign that buying looks risky. I also found that sellers respected the upward diagonal in the background, which is another […]
The Bitcoin (BTC) has been trading Upwards. The price tested the level of $9.241. Goldman Sachs is reportedly launching a bitcoin trading operation where it will trade bitcoin futures contracts on behalf of clients using its own money, starting as early as the next few weeks. The Wall Street investment firm will also offer its […]
GOLD PRICES rose against all major currencies on Thursday, rallying above $1315 per ounce in Dollar terms after the US Federal Reserve held its key interest rate unchanged. Despite manufacturing survey data this week pointing to bottlenecks and cost-price inflation at a 7-year high, the Fed altered key phrases in Wednesday’s policy decision statement, suggesting […]
It’s 12 PM GMT on this Thursday, and it’s time for the Dukascopy Midday Snapshot. Euro/Dollar gained 61 pips to breach the 1 20 level, but some of the gains were given up later on. Turnover is average and sentiment of the traders is neutral, short positions outweigh long ones by 9%. Bulls had their […]
The past few weeks have not been kind to gold prices, which touched their lowest level in four months on Tuesday, as a cocktail of fading risks on the Korean peninsula and a recovering dollar curbed demand for the precious metal. While a resurgent dollar continues to pose downside risks for gold, there are several […]
Here are the latest developments in global markets: FOREX: The US dollar continued to move lower during the early European session, deviating further below the 3-month high of 110.02 versus the yen reached during Wednesday’s European trading. Specifically, dollar/yen retreated to 109.49 (-0.32%), a day after the FOMC left interest rates unchanged. The accompanying statement […]
EUR/JPY This cross continues to slip further southwards. It has shed 110 pips this week, and about 180 pips since last week. Price is now below the supply level at 131.50, going towards the demand level at 131.00, which is the immediate target for bears. The demand level may even be breached to the downside. […]
USD/JPY The USD/JPY is consolidating in the context of an uptrend. The market is now above the demand level at 109.50 and it could reach the supply level at 110.00. Some fundamental factors are still expected today, and they may have impact on the market. They may even support the ongoing bullish bias. Owing to […]
USD/CHF The pair has almost tested an important level at 1.0000, because it retraced.The next target is the resistance level at 1.0000, which is a major resistance level (a psychological level). The USD/CHF has gone upwards this week, and this seems to be the beginning of a great bullish momentum in the market (given the […]
Bitcoin is still consolidating in the mid-range of $8500 to $10,000 area from where the price is expected to push higher towards $10,000. The price is currently residing above $9000 area from where the price has greater probability of pushing higher. Though there are certain chances that the price will retrace towards $8500 area before […]
AUD/USD was being dominated by USD since the price bounced off the 0.78 area with a daily close which leads the price to be non-volatile with the bearish gains. This week RBA Statement and AUD Cash Rate report was published with an unchanged value of 1.50% which did help the currency to gain certain momentum […]
USD/CHF has been non-volatile with the bullish gains since it broke and retested the 0.9450 area. Recently published positive economic reports on the USD side did help the currency to dominate CHF in the process whereas CHF was struggling with worse economic reports. Ahead of the high impact economic reports to be published tomorrow including […]
GBP/JPY is expected to trade with a bearish outlook. The pair is accelerating on the downside, capped by its descending 20-period and 50-period moving averages. The key resistance at 149.70 maintains the strong selling pressure on the prices. Last but not least, the relative strength index is bearish and calls for further downside. In these […]
This Friday is the European Services PMI day and we will also get the much anticipated US jobs update for April, so let’s take a closer look. The day starts with Services PMI run for April and Spanish stats are available first at a quarter past 7 AM. Italian data is up next at 7:45, […]
Although not all data published on Wednesday regarding the economic condition of the European Union countries surprised positively, green digits clearly dominated on the stock exchanges in the Old Continent. The Wednesday’s rich macroeconomic readings began in Europe since the PMI publication for the Swedish industry. The mood deteriorated, as the indicator dropped from 55.9 […]
Leaving unchanged monetary policy at the May meeting was a general market scenario, the probability of which far outweighed others. There was no press conference planned. Investors only have to rely on the published statement of the Fed’s monetary policy. As usual, a few moments after the publication of the latest statement, we had an […]
EUR/GBP has been quite impulsive with the bullish gains after breaking above the 0.87 price area with a daily close. The worse economic reports published in the UK recently had a great impact on the gains of GBP which led to certain weakening against EUR in the process. EUR has been quite mixed with the […]
The NZD/USD pair didn’t make significant movement yesterday. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 0.6906 or lower. 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 […]
Overview: 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 bottom. Today, the major support is seen at 0.9868, while immediate resistance is […]
The Dukascopy TV team is here with the Spike Controller for Thursday, 3rd of May. Euro/Dollar’s daily average spread is point 35 pips and maximum separation of 2.2 pips took place during the past hour. Trend has shifted and the biggest move is a decline of point 73% or 88 pips as the rate moved […]
The AUDUSD has fallen to the 0.75000 level after its false breakout higher in the middle of April. Better economic data from Australia overnight has helped stem the fall, with the pair finding support at 0.74722 yesterday. A continuation of the trend lower targets 0.74000, followed by the 0.73450 level and 0.72860 in extension. Resistance […]
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NZDUSD stalled its decline after a strong bearish rally over the previous two weeks. The pair is still trading below the 20- and 40-simple moving averages in the 4-hour chart but is has rebounded somewhat from the more than four-month low of 0.6985 hit earlier on Thursday. The RSI has flattened below the 50 level, indicating that the market could be neutral in the […]
These are the Dukascopy Daily Trading Signals for Thursday. Here’s how the technicals compare with interbank at 8 M GMT. Euro/dollar’s technicals are mostly pointing North in the hourly scale. Mid term models are neutral and daily outlook shifts to bearish, which matches the close to 33% short interbank. Pound/Dollar has mostly green indicators in […]
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 remains trapped between the price levels of 1.2200 and 1.2500 until breakout occurs in either directions. Daily persistence above 1.2470-1.2500 was needed to confirm a recent bullish flag continuation pattern with projected targets around the price level of 1.2750. However, significant signs of bearish reversal were manifested around the price […]
Morning Report: 07.00 London This morning, the dollar index is on the back foot after reaching 2018 highs following a bullish fed meeting. The FOMC gave a cautious but positive assessment of the US economy, while ADP non-farm employment change came in slightly above estimates. The dollar pairs are climbing this morning as the pressure […]
Here are the latest developments in global markets: FOREX: The US dollar index, which gauges the greenback’s strength against a basket of six major currencies, was practically unchanged on Thursday after it touched its highest level in 2018 yesterday, in the aftermath of the Fed’s policy meeting. STOCKS: US markets closed lower yesterday, following the FOMC meeting. […]
Burning Forecast 03/05/2018 EURUSD: the possibility of buying. The main event of the week took place on Wednesday- the Fed. The rate was not raised, and the tone of the Fed statement was quite soft – the Fed does not expect a rapid rise in inflation and acceleration of rate hikes. On this statement, the […]
The Dollar index continues to make higher highs and higher lows. Trend remains bullish as price remains inside the bullish channel. The warnings from the RSI bearish divergence are still there but now we have also another reason to exit longs. Price has reached very close to the triangle breakout target. Black lines – triangle […]
