USDJPY is currently residing at the edge of 107.50 area despite having worse economic report on the USD side recently. As of the recent high impact economic reports published on Friday, Non-Farm Employment Change report was published with a decrease to 103k from the previous figure of 326k which was a drastic fall from a […]
U.S. equities had another turbulent day on Friday with a deep selloff. However, yet another tweet from President Trump over the weekend, signalling a possible softening in his approach to a trade war with China, has been improving sentiment. Traders should be aware of a speech by Chinese President Xi Jinping at the Boao Forum […]
Here are the latest developments in global markets: FOREX: Trade tensions continued to dominate the market theme as the US open approached. A tweet by President Trump on Sunday about the trade dispute with China went some way in lifting risk appetite in Asian trading on Monday. However, a report by Bloomberg that China is […]
EUR/JPY This cross is bearish in the long term, and rather neutral in the short term. Another reality is that the market condition is currently choppy, but that might come to an end when a rally occurs in the market. There is a strong likelihood of a rally here, owing to a bullish expectation on […]
USD/JPY The USD/JPY is bearish in the long term, and bullish in the short term. In the short term, price gained 180 pips from the low of last week, reaching the supply level at 107.50. Then there was a slight bearish correction in the market, which would eventually turn out to be an opportunity to […]
USD/CHF The pair remains bullish in the short term (and its fate is largely subject to whatever happens to EURUSD). Price went upwards last week, almost reaching the resistance level at 0.9650, and then getting corrected lower. The short-term bullishness will be rendered ineffectual only when price goes below the support level at 0.9500. On […]
The beginning of the new trading week on global commodity markets does not bring a significant change in the quotations of contracts for key raw materials. However, the threat of escalation of the trade war on the China-US line still causes caution on the part of investors. Oil prices fell on Friday, as US President […]
In general, the currency market has not moved much since Friday because, in the simplest terms, there is not much going on right now. The US labor market report confirmed three things. First, weather fluctuations disturbed employment statistics – which in February boosted the reading (326k), in March brought a correction (103k), but the average […]
Bitcoin (BTC) has been trading upwards. The price tested the level of $7.101. The cryptocurrency space is rarely short of drama, but there’s something about Twitter drama in particular that sets tongues wagging and crypto influencers crossing swords. The suspension of the popular @Bitcoin account on Sunday has sparked furious debate. In today’s edition of […]
In November 2017, evident signs of bullish recovery was expressed around the depicted low (0.6780). An inverted Head and Shoulders pattern was expressed around these price levels. The price zone of 0.7140-0.7250 (prominent Supply-Zone) failed to pause the ongoing bullish momentum. Instead, a bullish breakout above 0.7250 was expressed on January 11. That’s why, a […]
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 […]
Recently, the GBP/USD has been trading upwards. The price tested the level of 1.4117. Anyway, according to the 15M time – frame, I found a hidden bearish divergence on the LBR oscillator, which is a sign that buying looks risky. I also found a fake breakout of yesterday’s high, which is another sign of weakness. […]
Recently, the EUR/USD has been trading upwards. The price tested the level of 1.2290. Anyway, according to the 15M time – frame, I found a hidden bearish divergence on the LBR oscillator, which is a sign that buying looks risky. I also found potential end of ABC upward correction in the background, which is another […]
EURUSD remains on a downtrend in the short term despite an upwards correction, which now appears to be fizzling out. The rebound from Friday’s 5-week low of 1.2215 has been halted at the 23.6% Fibonacci retracement of the downleg from 1.2475 to 1.2215. This level is around 1.2275. Prices are struggling to overcome this resistance […]
The AUDUSD pair has settled into a range over the last couple of weeks and remains supported above 0.76400. Further losses can arise if this level is broken, with traders currently closely watching the 0.76600 level for early signs of a break down. The 0.76000 area contains two trend lines and should provide some strong […]
Here are the latest developments in global markets: FOREX: The US dollar was attempting a rebound on Monday, climbing back above the 107 level against the Japanese yen after twice coming under pressure on Friday. A smaller-than-expected increase in March nonfarm payrolls out of the US followed heated exchanges between the US and China on […]
Overview: The GBP/USD pair continues to move upwards from the level of 1.4060. Last week, the pair rose from the level of 1.4024 (the level of 1.4024 coincides with a ratio of 38.2% Fibonacci retracement) to a top around 1.4108. Today, the first support level is seen at 1.4066 followed by 1.4024, while daily resistance […]
EUR/USD has been quite impulsive with the bullish gains on Friday after being dominated by the bears leading the price to reside below 1.2260 area. The downbeat NFP and Unemployment Rate helped EUR to gain certain momentum over USD that is currently expected to continue further in the coming days. Currently, the ECB is thinking […]
Overview: Last week, the EUR/USD pair dropped sharply from the level of 1.2316 towards 1.2216. Now, the price is set at 1.2278. On the H1 chart, the resistance of EUR/USD pair is seen at the level of 1.2316 and 1.2377. It should be noted that volatility is very high for that the EUR/USD pair is […]
Tensions between the US and China do not disappear, though without much impact on asset prices. The currency market has little excitement at the start of the week. The main crosses hold the ranges of fluctuations from Friday. EUR / USD stuck close to 1.2280, USD / JPY is staying just under 107. Only NZD […]
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The Dollar index has broken above the trend line resistance and is now back testing it. Price remains above the 4 hour Ichimoku cloud and this is a bullish sign. If the price breaks back below the broken resistance trend line and below the cloud, we will have a false break out and change in […]
Gold price has tried to bounce towards $1,350, but only managed to top around $1,348 and reverse back towards $1,330. Price is trading again below the 4 hour Ichimoku cloud and is vulnerable to a deeper pull back towards $1,300. Red line – resistance Blue line – support On a weekly basis, the multiple rejection […]
The Reserve Bank of India (RBI) announced in a statement on the development and regulatory policies, that it was considering issuing its own central bank digital currency (CBDC). RBI set up an inter-ministerial group to explore the potential benefits and feasibility of the CBDC, which will present its findings in the report in June 2018, […]
The UK Halifax House Price Index had recovered last month from a reading of -0.6% in January and February up to 0.4% in March. A weaker number here can be attributed in part to the recent spell of winter weather. The Year over Year figure is still robust and is expected to come in around […]
Morning Report: 07.00 London This morning, the US dollar is falling off again, on the back of mixed US payroll data on Friday. Average earnings held firm while jobs and unemployment disappointed. This and ongoing uncertainty surrounding trade tariffs has heaped further trouble on the dollar. Dollar pairs are mixed this morning, as the EUR/USD […]
https://pepperstone.com/en/forex-news/market-review -US equities sold off sharply on a cocktail of worries. -A good week for CAD but not CNY or RUB vs the USD. -The US is talking to NK and not bombing Syria. -5Star and the League could form a new Italian Government. -Global PMis suffered a big dipped in Q1 2018, data shows. […]
The price bounced nicely off its major support at 1.2735 (61.8% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where we see it rising to its resistance at 1.2938 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance). We do have to be cautious of the intermediate resistance at 1.2836 (100% […]
The price bounced off its support at 81.975 (50% Fibonacci retracement, 38.2% Fibonacci retracement) where we expect to see a further rise to its next resistance at 82.590 (50% Fibonacci retracement, multiple swings high resistance). Stochastic (34, 5, 3) made a corresponding bounce off its support at 5.7% where it still has a lot of […]
When the European market opens, some Economic Data will be released such as Sentix Investor Confidence and German Trade Balance. Today the US 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: 1.2332. Strong Resistance:1.2325. Original […]
