USD/JPY is under pressure and expected to continue its downside movement. The pair has fallen to levels below both the 20-period and 50-period moving averages and is striking against the lower Bollinger band, calling for acceleration to the downside. Downward momentum is further evidenced by the relative strength index, which is badly in the 30s. […]
Morning Report: 07.00 London This morning, the US Dollar is holding firm despite an apparent escalation of tariff threats from both sides of Pacific. Traders are more focussed on the positive potential for today’s Non Farm Payrolls data. Dollar pairs have a negative bias, with the likes of the GBP/USD and EUR/USD selling off again. […]
The Central Bank of Russia is considering using its Masterchain software to send SWIFT financial messages under the Eurasian Economic Union (EAEU). The Russian FinTech Association, established under the supervision of the central bank, successfully carried out a trial of software based on Ethereum in 2016 and completed the final version in 2017. “We are […]
Overview: The NZD/USD pair will continue to rise from the level of 0.7245. The support is found at the level of 0.7245 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 0.7245 while immediate resistance is […]
Overview: The USD/CHF pair didn’t make a significant movement yesterday. There are no changes in my technical outlook. The bias remains bullish in the nearest term testing 0.9656 or higher. The USD/CHF pair continues to move upwards from the levels of 0.9588 and 0.9607. Today, the first support level is currently seen at 0.9588, the […]
NZD/USD is under pressure and expected to continue its downside movement.The pair is turning down now, and remains under pressure below its nearest resistance at 0.7295. Both the falling 20-period and 50-period moving averages act as strong resistance roles, and should continue to push the prices lower. Besides, the relative strength index is negative below […]
EUR/CAD has been impulsive with the bearish gains recently which lead the price to reside below 1.57 price area with a daily close. EUR has been struggling to keep up with the impulsive gains of CAD which is expected to extend further today having high impact economic reports to be published. Recently CAD Trade Balance […]
Friday’s session is expected to be volatile, with Non-Farm Payrolls (13:30 UK Time) ahead and President Trump’s proposal for an additional $100B of trade tariffs for China affecting markets. The President instructed Treasury to consider the move, which would bring tariffs against China to $150B. This sent US stock markets lower and USDJPY from 107.430 […]
EURGBP remains in a slightly downward tilting channel, which has been in place since September 2017. The longer-term neutral to bearish outlook was recently confirmed again when the pair touched a 9-month low of 0.8668 on March 22. It has since recovered from that low but the rebound was halted after finding resistance around 0.8790. […]
https://pepperstone.com/en/forex-news/market-review -USD gains vs JPY, NZD & KRW. – President Trump proposes new tariffs on Chinese imports. -Japans real wages fall for a 3rd month. -More money leaves US equities. -A good time to be a Brazilian car dealer? -Central banks love the Yen discuss. The overnight changes and price moves to be aware of […]
When the European market opens, some Economic Data will be released, such as Retail PMI, French Trade Balance, French Gov Budget Balance, and German Industrial Production m/m. The US will release the Economic Data too, such as Consumer Credit m/m, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m, so, amid the reports, EUR/USD […]
In Asia, Japan will release the Leading Indicators, Average Cash Earnings y/y, and Household Spending y/y data, and the US will release some Economic Data, such as Consumer Credit m/m, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So, there is a probability the USD/JPY will move with a medium to high volatility […]
A minor correction close to 1.6920 is expected before the next leg lower towards 1.6720 and lower to the ideal target near 1.6620 from where a new impulsive rally is expected. That said, we need to watch the price-action closely near 1.6620, as a more bearish alternate count, which calls for a decline closer to […]
We continue to look for more upside towards 132.12 followed by a minor sideways consolidation and a final pop closer to 132.82 to complete wave B and set the stage for renewed downside pressure in wave C towards the long-term target for wave (E) at 123.43. R3: 132.43 R2: 132.12 R1: 131.75 Pivot: 131.06 S1: […]
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USD/CAD is approaching its support at 1.2711 (61.8% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where we expect a bounce, pushing price all the way up to its resistance at 1.2936 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance). We do however have to take note of the intermediate resistance […]
In November 2017, evident signs of bullish recovery were 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 a breakout occurs in either direction. 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 […]
GBP/USD is in a short-term bearish trend. The price is trending lower towards 1.39-1.38. The price is below the Ichimoku cloud. After backtesting and getting rejected at cloud resistance, the price is making lower lows and lower highs. Red line – long-term support Our longer-term view is clearer. Price is in a bullish trend above […]
USD/CAD is in a bearish trend. The price has most probably topped at the 1.2920 area and has now started its next leg towards 1.2650 at least. The price is making lower lows and lower highs and has recently exited a consolidation area. The USD/CAD is trading below the 4-hour Kumo (cloud) and both the […]
The Dollar index is in a bullish short-term momentum after breaking above the short-term resistance trend line. In Ichimoku cloud terms, the trend is bullish and will remain so as long as the price is above 89.85. On a weekly basis, the trend remains bearish. However, the price has managed to close last week above […]
The Gold price behavior so far has been bearish. The weekly candle is screaming rejection and lower prices. Bulls need to push the price back towards $1,350 otherwise they will be in danger of seeing $1,310-$1,300 and why not lower. On a weekly basis, we see a rejection and a close below the tankan-sen so […]
There are slight attempts to resume the bullish bias as the price action still remains in favor of this trend. The greenback could post another fresh multi-day high and eventually it can reach the resistance level of 90.63. If a breakout happens over there, then we might expect a continuation towards the 91.75 level, while […]
The pair is being hit by a selling wave across the board following a strong pressure in the 200 SMA at the H1 chart. Now, it seems like it can plummet towards the support zone of 1.3985, where buyers could appear in order to make a rebound to test the resistance level of 1.4166 and […]
AUD/USD has been volatile and corrective for a few days now. Currently, some bearish pressure is being observed, pushing the price below 0.77 area. Despite positive economic report today, AUD failed to gain momentum over USD whereas the market is currently traded with the bearish bias. Today, Australia’s AIG Service Index report was published with […]
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 1.2500 and 1.2200 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 […]
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The British Pound (GBP) declined this morning after a major survey showed that British services slowed sharply to the slowest rate since the EU referendum in June 2016. The Purchasing Managers’ Index (PMI) was reported to be worse-than-expected at 51.7, from February’s reading of 54.5. This was attributed to unusually bad weather conditions and weak […]
The talk around the financial markets these days is about a trade war. The talks started when Trump announced plans to impose heavy tariffs on steel and aluminum. He then moved to announce heavy tariffs on an assortment of 1,300 Chinese goods. As a response, Chinese authorities announced plans to levy heavy tariffs on 128 […]
