Feb 2nd, 2018: Steady Fed Helps Support Dollar

Morning Report: 07.00 London The dollar is on the rise this morning, supported by an in-line Final Fed meeting for departing chair Janet Yellen. Dollar pairs are on the back foot, with the AUD/USD leading the fallers, down 0.48%. Most other dollar pairs are lower, with the EUR/USD and GBP/USD falling by the same measure. […]

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01.02.2018 – Trading Signals by Dukascopy

You’re watching the Dukascopy Daily Trading Signals for Thursday. Here’s how the technicals compare with the interbank at 8 AM GMT. Euro/Dollar’s 1 and 4 hours both have 4 neutral signals. Daily models are mostly pointing up, just like the 37% long interbank sentiment. Pound/Dollar has 5 neutrals in the hourly scale. Mid term is […]

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Technical Analysis – USDJPY posts some gains; re-enters into symmetrical triangle

USDJPY surged above the 109.50 price level during today’s European session and is trying to enter again into the symmetrical triangle that has been holding since June 2015 in the medium-term timeframe. The short-term technicals are bullish and point to more strength in the market. From the technical point of view, in the daily timeframe, […]

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Ichimoku cloud indicator analysis of gold for February 1, 2018

Gold price made a new low and revisited its highs next after the FOMC. So far, it is trading in a range between $1,350-$1,330. A break out will give a big move towards $1,300-$1,280 or $1,400. Black rectangle – resistance Green rectangle – support Gold price is trading below the 4 hour Kumo. Bears have […]

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Burning forecast 02/01/2018

Burning forecast 02/01/2018 EURUSD: Trade out of range. Important news on the US on Wednesday January 31: The employment report from the ADP agency showed a growth of the labor market + 234,000 – significantly better than the forecast. The Fed left rates unchanged at 1.25%- 1.50%, but at the same time intensified its attention […]

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Trading Plan for EUR/USD and US Dollar Index for February 01, 2018

Technical outlook: The EUR/USD pair is very close to printing a major high for 2018. According to the most probable wave count, the pair seems to be into its 5th wave of one larger degree already. Furthermore, it seems to be in the 4th wave at the moment with pressure being on the south side. […]

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01.02.2018 – Support and Resistance by Dukascopy

Hello traders, let’s see where the Support and Resistance levels stand this Thursday morning. Euro/Dollar is trading in the range limited by R1 of 1 2470 and S1 of 1 2390. R3 is well confirmed with 9 matches, including a price channel indicator upper line, a Bollinger upper band and a 2 year high. R1 […]

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PMI Readings from Around the World Out Today

The markets went to test nearby support and resistance after the Fed’s Monetary Policy Statement was released yesterday. The Interest Rate was left unchanged and only small parts of the text were altered. The statement added that the expectations would “warrant FURTHER gradual increases in the federal funds rate” (adding the word “further”). They also […]

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FOMC: everything is in order, but the dollar will continue to weaken

The Fed unanimously kept the range of the key rate at 1.25 – 1.50% at the meeting on Wednesday. The results of the meeting did not lead to increased volatility since they fully corresponded to the forecasts. The tone of the accompanying statement can be considered moderately optimistic. The Fed expects inflation to rise this […]

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Janet Yellen goes with a whimper not a bang, US$ is up vs the Yen. Ether bounces back.

Forex Market Reviews: http://thefxlounge.com/#Market-Review -A quiet end to Jan in FX markets. -The FOMC voted for no change at JYs final meeting. -A new cent bank governor in Taiwan. -India to pay farmers more for staples. -Tech Giants (that begin with A) report earnings. -Wealth is the new GDP. The overnight changes and price moves […]

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Elliott wave analysis of EUR/NZD for February 1, 2018

Wave summary: Wave ii/ has spike lower to 1.6760, just below our ideal corrective target 1.6803. This most likely completed wave ii/ and wave iii/ higher through minor resistance at 1.6973 and more importantly, a break above resistance at 1.7064 will confirm the next rally higher to 1.7360 and 1.7479 on the way towards 1.7777. […]

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Elliott wave analysis of EUR/JPY for February 1, 2018

Wave summary: Our preferred count shows that wave (D) completed at 136.63 just below the ideal target seen at 137.37. However, the failure to break lower and sustain the break below 135.00 does keep a window open for a final spike to the ideal target at 137.37, before the top is secured and a decline […]

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Technical analysis of EUR/USD for Feb 01, 2018

When the European market opens, some Economic Data will be released such as French 10-y Bond Auction, Spanish 10-y Bond Auction, Final Manufacturing PMI, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI. The US will release the Economic Data too, such as Total Vehicle Sales, Natural Gas Storage, […]

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Technical analysis of USD/JPY for Feb 01, 2018

In Asia, Japan will release the 10-y Bond Auction and Final Manufacturing PMI data, and the US will release some Economic Data such as Total Vehicle Sales, Natural Gas Storage, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Unemployment Claims, Prelim Unit Labor Costs q/q, Prelim Nonfarm Productivity q/q, and Challenger […]

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Gold loses roots

Investors remembered the previous year with enthusiasm, when working with gold, a simple strategy was relevant: as the FOMC meeting was approaching, at which the federal funds rate was to be raised, it made sense to sell the XAU/USD. On the topic of monetary tightening, the precious metal, on the contrary, was redeemed on the […]

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How to hedge the rise in equity indices

With many in the market not wanting to miss out on a long position on equity indices, Trevor Neil, from Beta Group, discusses how to hedge your position without losing any of the upside that may yet still be in the pipeline. ► Learn more about IG: https://www.ig.com ► Subscribe: https://www.youtube.com/IGIndexSpreadBetting Twitter: https://twitter.com/IGcom Facebook: https://www.facebook.com/IGcom […]

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Technical Analysis – Japan 225 index close to 1-month lows; bearish in short-term

Japan 225 index took a knock after reaching a multi-decade high of 24166, reversing most of its gains made since the beginning of the year. However, in the bigger picture, the index remains firmly in bullish territory. In the short-term, the risk is to the downside given that the RSI is negatively sloped below its […]

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Are oil prices at risk of a “long squeeze”? -Commodity News

Oil prices have had a good run so far in 2018. WTI rallied 6.5% in just the first month of the year, boosted by a softer US dollar and declining crude inventories in the US. However, recent developments suggest that the positive sentiment surrounding the energy market may be on thin ice right now, and […]

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Daily analysis of USD/JPY for January 31, 2018

Overview The USD/JPY pair is fluctuating around 109.05 level. In case the pair remains below it, the negative pressure is likely to continue on the intraday and short-term basis. It is especially probably provided that the EMA50 keeps pushing the price downwards and protects further trading inside the bearish channel that is dislayed on the […]

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Daily analysis of GBP/JPY for January 31, 2018

Overview The GBP/JPY pair made an intraday rebound to approach from the initial barrier at 154.80 level. Let me remind you that the stability of the price is generally below 50% Fibonacci correctional level at 156.00. This confirms the bearish correctional bias for the short term with targets from 151.50, reaching 150.00. Note that the […]

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Daily analysis of Gold for January 31, 2018

Overview Gold price is hovering around the EMA50 now. The bearish scenario is still valid for today as long as the price remains stable below 1,353.00. Let me remind you that we need to break 1,335.40 to confirm a longer bearish wave towards 1,316.48 as the next station. We should note that breaching 1,353.00 will […]

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Daily analysis of Silver for January 31, 2018

Overview Silver price resumes its decline, trading near the minor bullish channel’s support line which is displayed on the chart. The price needs to break the level of 16.95. It should be broken to confirm a further decline towards 16.56. Until now, the bearish trend scenario is still valid as long as 17.43 level remains […]

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31.01.2018 – Movers and Shakers by Dukascopy

It’s 3 PM GMT on the final trading day of January, so let’s take a look at the FX Movers and Shakers. Kiwi Dollar has surged against the Japanese Yen to trade more than 1% in the green, which is the day’s top move. New Zealand Dollar’s bullish day puts the commodity currency on top […]

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Facebook bans bitcoin ads will this burst Bitcoin’s bubble?

Bitcoin has been everywhere for the past six months – it even had a Big Bang Theory episode dedicated to it. That isn’t an insignificant fact either if you consider B.B.T. is the most-watched and top-rated scripted show on air. The problem is, now that everyone is watching, it seems that bitcoin’s bubble may have […]

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Technical Analysis – Silver struggles below symmetrical triangle again; more gains are expected

Silver has come under strong pressure over the last trading days, in the short to medium-term timeframe, following the pullback on the 17.70 resistance level. The price penetrated to the upside of the symmetrical triangle that was holding since July 2017 and ended several days above the descending trend line. However, on Monday, the price slipped again below […]

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Stock Market News – Facebook and Microsoft eyed as earnings season continues

Technology heavyweights Facebook and Microsoft will be releasing financial results for the quarter ending December 2017 after Wednesday’s US market close, with the former also releasing full-year results. The consensus recommendation for both Facebook and Microsoft is a “buy”, with the average consensus recommendation for their peer groups – Online Services and Software respectively – […]

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EUR/JPY analysis for January 31, 2018

Recently, the EUR/JPY pair has been trading sideways at the price of 135.60. Anyway, according to the 30M time – frame, I found a bullish breakout of the 2-day balance, which is a sign that buyers are in control. I also found a rising upward trendline and hidden bullish divergence on the moving average oscillator, […]

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GBP/USD analysis for January 31, 2018

Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.4121. Anyway, accorrding to the 15M time – frarme I found a successful rejection of Fibonacci retracement 38.2%, which is a sign that selling looks risky. I aslo found a bullish cross on the stochastic oscillator, which is another sign of […]

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EURUSD and US30 Index Analysis – January 31, 2018

EURUSD has retraced a little from recent highs at 1.25372 and in the process, appears like it may be forming a Bull flag. It is today testing the top of the flag pattern around 1.24600 and if a break out should occur then 1.25000 should be tested followed, by resistance at the high in quick […]

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Technical Analysis – EURJPY runs sharply higher; bulls took the lead

EURJPY has reversed back up again after finding support at the 134.10 barrier during yesterday’s trading session. The pair has been developing higher along its current trend line since August 18. Additionally, over the last hours, prices broke above the 135.00 handle and are trading above the short-term moving averages. The pair is recording a sharp upside movement and […]

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