The Bureau of Labor Statistics (BLS) released the revised GDP numbers for the American economy. The data showed that the economy grew by 2.9%, which was up from the earlier released number of 2.7%. Analysts estimated the data to show a growth of 2.7%. In the third quarter, the economy grew by 3.2% while in […]
USDJPY bounced sharply during Wednesday’s trading session, adding 170 pips to its performance in just one day. The price rebounded on the 16-month low near 104.60 and tried to challenge the 107.30 resistance level. The pair, however, is currently looking weaker, trading below the 40-day simple moving average in the daily timeframe. The MACD oscillator is rising above its red trigger […]
When the European market opens, some Economic Data will be released such as Core PCE Price Index m/m and German Prelim CPI m/m. The US will release the Economic Data too, such as Natural Gas Storage, Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Chicago PMI, Personal Income m/m, Unemployment Claims, Personal Spending m/m, and […]
In Asia, Japan will release the Retail Sales y/y data, and the US will release some Economic Data such as Natural Gas Storage, Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Chicago PMI, Personal Income m/m, Unemployment Claims, Personal Spending m/m, and Core PCE Price Index m/m. So, there is a probability the USD/JPY will […]
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 […]
Monthly Outlook In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100-1.2200 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450. In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997. […]
The index is having a bullish momentum and looks forward to breaking above the 200 SMA at the H1 chart, in an effort to reach the March 20th highs. However, the support zone of 89.36 could get broken and could allow additional losses to test the support level of 87.88. To the upside, a critical […]
The pair remains well consolidated above the 200 SMA at the H1 chart, where it found support during March 27th session. Such area helped to give a boost to the Cable in the short-term and we can expect further rallies toward the resistance zone of 1.4225. To the downside, if GBP/USD manages to break below […]
Canadian GDP figures for the month of January are due on Thursday at 1230 GMT. The release could give direction to the local dollar which has been performing poorly relative to its US counterpart, shedding 2.7% year-to-date. Economic activity in Canada is expected to have expanded by 0.1% m/m during the first month of the […]
Thursday will probably be the most eventful day for the US dollar this week, from a data perspective at least. The core PCE price index, which is the Fed’s preferred inflation measure, as well as personal income and spending figures are all due for release at 1230 GMT. While forecasts point to a robust set […]
NZDJPY is looking more neutral as prices have climbed towards the 20-day simple moving average (MA) after bouncing off the lower Bollinger band. However, the 20-day MA also acted as resistance, hence the upside momentum appears to have run out of steam as prices have been attempting and failing to close above the line in […]
EURJPY rebounded significantly on Monday, jumping from a seven-month low of 128.93 on Friday to a two-week high of 131.80. Since then, the pair maintained this uptrend and the technical indicators in the 4-hour chart suggest that the market could consolidate gains in the near-term. Looking at momentum indicators, the RSI is moving sideways above […]
Overview Gold kicked off the global trading day with a bullish bias in an effort to regain some of the losses incurred yesterday. Please note note that stochastic provides a positive overlapping signal on the four-hour time frame, which creates a long-awaited momentum to enable the price to achieve more gains in the nearest sessions […]
Overview Silver price pushes on the key support 16.45 now that urges caution for the short term. Stochastic is negative now, so breaking the mentioned level will force the price to suffer losses from 15.49 before any new bullish attempt. Until now, we keep the bullish outlook on condition of the price stability above 16.45. […]
According to CoinMarketCap, Bitcoin failed to recover after experiencing a 6.5% drop on Tuesday, now trading below $8,000. It is very likely that a global risk-off sentiment in the markets continues to put pressure on cryptocurrencies. It is worth looking at how the market is likely to react, should BTC reach the recent low of […]
The US 30 index has come under renewed selling pressure, falling back below its 100-day moving average (MA), but remaining slightly above the 200-day MA. Despite the latest pullback though, the index has not posted a fresh lower low, which makes one hesitant to trust further declines for now. Moreover, the price rebounded after it […]
Crude Oil prices declined on Wednesday, with West Texas Intermediate (WTI) trading below $65 and Brent back below $70 per barrel. The drop came in response to a surprise inventory build in the American Petroleum Institute (API) data released on Tuesday, that reported a 5.3-million-barrel rise in crude stocks. Last week, crude had seen an […]
Here are the latest developments in global markets: FOREX: Dollar/yen managed to pick up speed, rising to 105.84 (+0.49%) despite worries that tensions between the US and China could escalate again. The rise came after Trump tweeted that the meeting between the North Korean and the Chinese leaders “went very well” and that the former was “looking […]
GOLD BULLION again dipped to $1340 per ounce Wednesday morning in London and silver prices also re-touched their lowest since Friday as world stock markets extended yesterday’s 1.7% drop in US equities. Commodity prices fell for a second day as US bond prices jumped again, pushing the yield offered by 10-year US Treasury debt […]
The share price of Facebook Inc has fallen by around 18% from its all-time high of $195.32 in late January as the company falls out of favour with investors following the data privacy scandal engulfing the social media giant. The revelation that Facebook was responsible for a breach of its user data and the subsequent […]
Germany’s preliminary inflation data for March are due for release on Thursday, at 1200 GMT. Forecasts point to an acceleration in price pressures for Eurozone’s largest economy, which would undoubtedly be pleasant news for the European Central Bank (ECB) as it prepares the ground for an unwinding of stimulus that is likely to take place […]
Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.4133. According to the 1H time – frame, I found strong rejection from the lower band, which is a sign that sellers got “too short”. I also found oversold conditions on the stochastic oscillator and rejection of Fibonacci retracement 50% at […]
Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,338.54. According to the 4H time – frame, I found that the supply trendline in the backgorund held successfully, which is a sign that sellers are in control. I also found overbought RSI oscillator, which is another sign of weakness. […]
The GBPUSD pair broke out of its broadening wedge pattern on the 13th of March and retested the trend line in Blue on the 16th, setting up a move higher to 1.42445. This level was tested twice on Monday, with the price falling back to the 1.40675 level. The pair moved higher yesterday, helped by […]
Get your daily market and Forex news analysis from leading Forex and market news analysts only at http://www.xm.com/market-analysis-video Professional Forex news analysis on all major currencies: (EUR/USD) (USD/JPY) (GBP/USD) (USD/CHF), (USD/CAD), (AUD/USD) Visit http://www.xm.com the international Forex broker. Related Posts:Video market update for April 15, 2024 April 15, 2024 Potential for the further rally on […]
EUR/JPY A bullish signal (“buy” signal) has already been generated on this cross. Price rallied massively yesterday, rising from the demand zone at 129.50, and ramming into the supply zone at 131.50. However, a correction was experienced at that level. Further bearish correction would result in invalidation of the bullish signal. A Bullish Confirmation Pattern […]
USD/JPY There is a rally on the USD/JPY; in the context of a downtrend, but that was not significant enough to threaten the overall bearish bias on the market. A movement above the supply level at 106.50 would cause a bullish bias to be threatened, but that would require a strong buying pressure. A movement […]
USD/CHF Since a bearish signal was generated on the USD/CHF, the price has moved in a ranging mode. When volatility resumes, the price would move lower and lower again, reaching the support levels at 0.9400 and 0.9350. A stronger movement is anticipated before the end of this week, which could overturn the current scenario. There […]
Get your daily market and Forex news analysis from leading Forex and market news analysts only at http://www.xm.com/market-analysis-video Professional Forex news analysis on all major currencies: (EUR/USD) (USD/JPY) (GBP/USD) (USD/CHF), (USD/CAD), (AUD/USD) Visit http://www.xm.com the international Forex broker. Related Posts:The dollar has not reached its potential April 15, 2024 What is permissible for Jupiter may […]
Analysis of 3 key signals in Q1 2018’s gold price action… THANKS to Good Friday, this week ends early for gold investors and traders, writes Adrian Ash at BullionVault. Like pretty much all of the Western world’s bond and stock markets, the London gold market – center of the global wholesale trade – […]
