Daily Outlook In July 2017, an atypical Head and Shoulders pattern was expressed on the depicted chart which indicated upcoming bearish reversal. As expected, the price level of 0.7050 failed to offer enough bullish support for the NZD/USD pair. That’s why, a further decline was expected towards 0.6800 (Reversal pattern bearish target). Evident signs of […]
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. […]
NZD/USD is expected to trade with a bullish outlook. The pair rebounded from 0.7250 and broke above both 20-period and 50-period moving averages. The relative strength index is bullish above its neutrality level at 50, calling for a further upside. Hence, as long as 0.7250 holds on the downside, a new challenge to 0.7310 and […]
Technical outlook: The US Dollar Index 4H chart setups has been presented here in continuation to what we discussed last week. It is now becoming quite evident now that the index might have formed a meaningful bottom already around 88.25 levels around mid February 2018. There is enough proof to suggest the same; the subsequent […]
The US Steel and Aluminium Tariffs remain centre stage today, as over 100 Republican Lawmakers signed a letter sent to the President expressing concern about the proposals. The White House is in the process of formalizing the tariffs, with the President expected to sign as early as Thursday evening and the tariffs coming into effect […]
Technical outlook: The EUR/USD 4H chart has been presented here today, in continuation to what was discussed last week. The pair had broken below its immediate trend line support and subsequently below 1.2200 handle as well. Furthermore, the pair seems to have unfolded into 3 waves counter trend rally since then. It is seen to […]
Wave summary: We continue to look for a break above minor resistance at 1.7100 that will open for a continuation higher towards 1.7470 and 1.7777 as the next major upside targets. Short-term, support is seen near 1.6995 and again at 1.6969. We might need to revisit the later again before being ready to challenge resistance […]
Wave summary: We continue to look for more upside closer to 132.90 before the next turn lower towards 127.52 and the ideal (E) wave target near 123.43. The expected rally to 132.90 has meet over here resistance near 132.00 and the ongoing consolidation is expected to result in a break above resistance at 132.00 for […]
When the European market opens, some economic data will be released such as Minimum Bid Rate and German Factory Orders m/m. On the USD front, the US will release a series of economic data too such as Natural Gas Storage, Unemployment Claims, and Challenger Job Cuts y/y. So amid the reports, EUR/USD will move with […]
In Asia, Japan will release the Economy Watchers Sentiment, Final GDP q/q, Final GDP Price Index y/y, Current Account, and Bank Lending y/y. On the US front, the US will also release some economic data such as Natural Gas Storage, Unemployment Claims, and Challenger Job Cuts y/y. So there is a probability the USD/JPY pair […]
Price has started to break out of our descending resistance-turned-support line signalling that a change in momentum should be expected. We look to buy above major support at 105.85 (Fibonacci retracement, horizontal overlap support, breakout level) for a push up to at least 107.09 resistance (Fibonacci retracement, horizontal swing high resistance). We do have to […]
Price has formed a sort of double bottom reversal and our major support remains at 0.7276 (Fibonacci retracement, horizontal overlap support, double bottom exit) and we look to buy above this level for a push up towards 0.7341 resistance (Fibonacci retracement, horizontal swing high resistance). We do have to keep a watch out for immediate […]
Forex Market Reviews: http://thefxlounge.com/#Market-Review -Chinese Exports grow by more than 40% in Feb. -UK House prices are flat. -A glimmer of hope for MXN & CAD in US trade talks. -The ECB meets to decide on rates and QE. -Japan lays down the law to Crypto exchanges. -Could the US trade deficit fan protectionism? The […]
The news about the resignation of the chief economic adviser to the president Gary Cohn allowed gold to mark its best daily level since Valentine’s Day. If an ardent opponent of protectionism, an ex-candidate for the presidency of the Fed, withdraws from his post, a potential global trade war is unlikely to be avoided. And […]
As the world’s largest motor show gets underway in Geneva this week, European car makers are using the event to showcase their latest hybrid and electric vehicles in a bid to reassert their place in the future of the car industry. European car manufacturers are seen to be lagging in the race for electric or […]
Chinese trade data for the month of February are due on Thursday – the figures lack a fixed time of release – with both exports and imports projected to grow solidly. The readings on producer and consumer prices for the month of February scheduled for release on Friday at 0130 GMT will also be in […]
The European Central Bank concludes its two-day policy meeting on Thursday, but no major policy shift is expected once again. February did not add much to the Eurozone’s economic recovery but instead indicated that the bloc’s positive momentum has slowed down. March did not have a great start either, with political uncertainties lingering on, while threats of a trade war arose out of […]
Why are so many people downloading the new social media app Vero? Will it be the next Facebook or will it burn out like Vine? You can view this video and the full video archive on the Dukascopy TV page: http://www.dukascopy.com/tv/en/#237781 Смотрите Dukascopy TV на вашем языке: http://www.youtube.com/user/dukascopytvrussian 用您的语言观看杜高斯贝电视: http://www.youtube.com/user/dukascopytvchinese Miren Dukascopy TV en su […]
Today, the ECB starts its two-day monetary policy meeting. The meeting comes at a difficult time in the global trade and economic environment. The most important part of the global economy today is about the looming trade war. Last week, after a meeting between steel and aluminum companies, Donald Trump announced that the country would […]
Copper is one of the most important metals in the world. It’s relatively low price coupled with its conductivity properties make it ideal for all electrical work. In the past one year, its price has significantly moved up following the uptake of electric cars. In December, its price reached a multi-year high of $3.32 per […]
The Australian Dollar rose by almost a percentage point following a meeting of the Reserve Bank of Australia. The AUD rose to a weekly high of 0.782 after the RBA left interest rates unchanged. The rise was also attributed to a weaker dollar after the European Union released a list of products they would target […]
Netflix stock price reached another all-time high of 325.44 yesterday as the stock extended a long bull run and posted the third green day in a row. Prices broke above the 161.8% Fibonacci extension level at 317.45 of the last bearish correction from 286.00 to 235.70. The bullish picture in the medium-term is further supported […]
Today, investors’ attention will focus on US data. A job market report from ADP company on a change in employment in the private sector will be published in the early afternoon, where it is expected that 199k jobs will be created in February. In addition, data on unit labor costs and labor productivity will be […]
With the resignation of Trump’s chief economic advisor, Gary Cohn, who opposed customs policy, financial markets are re-introducing risk aversion. Signals from the Korean Peninsula, where the summit between the South and the North Korea ended in hope for the continuation of the nuclear program by Pyongsang only for a moment brought relief to the […]
GOLD BULLION slipped against a weakening Dollar in London trade Wednesday, retreating $10 from a 1-week high at $1340 per ounce as talk of a global ‘trade war’ spurred by US President Donald Trump grew yet again following the resignation of his top economic advisor, Gary Cohn. After new data showed US factory orders […]
Crude oil prices declined on Wednesday, amid a broad sell-off after the resignation of Gary Cohn, who was the economic adviser to U.S. President Donald Trump. Cohn was a key advocate for free trade in the U.S. government and his departure is escalating concerns that the Trump administration will go ahead with import tariffs and […]
Here are the latest developments in global markets: FOREX: The resignation of Trump’s economic adviser and free-trade advocate, Gary Cohn, late yesterday, spurred speculations that the President’s plans to impose hefty import tariffs on aluminum and steel were more likely than analysts previously thought. The dollar index touched a fresh two-week low at 89.40 (-0.14%) and dollar/yen continued to trade near […]
It’s noon GMT on this Wednesday, so let’s see how traders have performed during the morning session. Euro/Dollar shows limited rate movement range of 42 pips, but the pair has attracted an average amount of funds. Sentiment of the traders is neutral, 7% long. The calmer than usual rate movement suggests no significant moves in […]
The ECB Monetary Policy Thursday is here, so let’s take a look at the fundamentals scheduled for publication. Swiss unemployment rate for February is out first at 6:45 in the morning. Jobless rate has stood steady at a multi year low of 3% for three consecutive months now, but it’s expected to edge lower once […]
Overview: The daily pivot point is set at the point of 0.9438. Today, the USD/CHF pair will probably continue rising from the level of 0.9342 in the long term. It should be noted that the support is established at the level of 0.9438 which represents the daily pivot point on the H4 chart. The bias […]
