The AUDUSD pair had tried to build a base of support around the 0.78900 level after price moved above this area on the 14th of February. However, the level was breached from above yesterday and, after a protracted battle that saw the 4-hour moving averages used as resistance, the price dropped under the 0.78690 support […]
Find out how the interbank compares with the technicals at 8 AM GMT on this Wednesday. Euro/Dollar’s 1 and 4-hour indicators are mostly red, but outlook shifts to neutral in the long term. Interbank sentiment is bullish at almost 25% long. All three time ranges bring mostly neutral signals for the Cable, which is in […]
Here are the latest developments in global markets: FOREX: The dollar index was nearly 0.2% higher on Wednesday ahead of the release of the FOMC minutes, extending the notable gains it posted yesterday. STOCKS: US equity markets closed lower on Tuesday. The Dow Jones fell the most, closing 1.0% lower, while the S&P 500 declined by 0.6%. […]
Morning Report: 07.00 London This morning, the British pound remains in a strong position despite the ongoing US dollar recovery. The EUR/GBP dropped yesterday to test the 0.8800 level. The GBP/USD made small gains yesterday, while the EUR/USD and other dollar pairs made losses. Today we have some crucial data in the form of earnings […]
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GBPUSD remains under pressure and risk is still to the downside as prices continue to drift lower from the 1.4150 resistance level. The short-term technical indicators are bearish and point to more weakness in the market, while the price capped by the 20-day simple moving average of the Bollinger band. Looking at the daily timeframe, the […]
Gold price as expected pulled back towards the cloud support but also broke below in early Wednesday trading. The dollar strength seems to be affecting the gold price negatively as the technical picture has weakened. The 4 hour cloud support is broken. Next important support is at $1,317, the post CPI report is low, and […]
Breaking forecast 02/21/2018 EURUSD: Continue to prepare for growth. So, for two days this week there is a corrective decline in the euro. Nevertheless, the growth trend is not broken. A strong rebound is expected at first – with the formation of a significant high in the area of 1.2380 – 1.2400 – and then, […]
Technical outlook: A daily chart view wave count has been presented here with a focus on the (5)th wave labeling. As seen here, the pair seems to be unfolding into its 5th wave, within the (5)th wave. The rally between 1.2205 through 1.2550 levels can be either termed as 5th wave termination or wave i. […]
There is a busy day of Economic Data ahead, starting with PMIs for European countries and the Eurozone as a whole. PMI Data across the Euro block has been improving but the consensus is for a slight drop in figures today. The UK Jobs data then follows, with most data points expected to be in […]
AUD/USD Technical Analysis. The Australian Dollar slid against the dollar by up to 41 basis points. This followed a report by a government agency that showed annualized wage growth missed estimates. The report by the Australian Bureau of Statistics (ABS) showed that annual wage growth of 2.1%, which was higher than the previously reported figures […]
Forex Market Reviews: http://thefxlounge.com/#Market-Review -Dollar index tests towards 90 once more. -The Yen gives ground. -PMIs and central bankers on the calendar. -Aussie construction slumps but wages grow slightly in Q4. -Eurozone consumer sentiment falls back. -Sterling Volatility quantified. The overnight changes and price moves to be aware of by Pepperstone’s Market Analyst, Darren Sinden. […]
All our upside targets which we predicted in the yesterday’s analysis have been hit. The pair is still expected to continue its upside movement. The pair is charging higher while being supported by the ascending 20-period moving average. The rising trend line drawn from the low of last Friday (February 16) remains intact. Strong intraday […]
Wave summary: We continue to look for a break above the minor resistance at 1.6865 that confirms the wave ii has completed and the wave iii higher towards 1.7470 and 1.7777 is ready to take off. Ideally, we will see the minor support at 1.6765 be able to protect the downside for the expected break […]
Our first targets which we predicted in the yesterday’s analysis has been hit. USD/CHF is expected to prevail its upside movement. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index is bullish and calls for a further upside. Hence, […]
When the European market opens, some Economic Data will be released such as Flash Services PMI, German Flash Services PMI, German Flash Manufacturing PMI, French Flash Services PMI, and French Flash Manufacturing PMI. The US will also release the Economic Data such as Existing Home Sales, Flash Services PMI, and Flash Manufacturing PMI, so amid […]
Wave Summary: EUR/JPY is finally moving higher towards the expected target area between 134.73 – 135.36 from where a new strong decline towards 129.30 and 127.52 should be seen on the way towards the ideal (E) target at 123.43. R3: 134.18 R2: 133.79 R1: 133.34 Pivot: 132.85 S1: 132.60 S2: 132.38 S3: 132.07 Trading recommendation: […]
In Asia, Japan will release the All Industries Activity m/m and Flash Manufacturing PMI, and the US will release some Economic Data such as Existing Home Sales, Flash Services PMI, and Flash Manufacturing PMI. So there is a probability that the USD/JPY pair will move with low to medium volatility during this day. TODAY’S TECHNICAL […]
All our upside targets which we predicted in the yesterday’s analysis have been hit. GBP/JPY is expected to continue its upside movement. The pair is trading above the key support at 132.10, which should limit the downside potential. The rising 50-period moving average should push the prices higher. The relative strength index calls for a […]
Our first downside target which we predicted in yesterday’s analysis has been hit. NZD/USD is still expected to trade with a bearish outlook. The pair is capped by a bearish trend line since February 16, which confirmed a negative outlook. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The […]
The index is breaking above the 200 SMA following a fresh-buying interest seen in the greenback during the last few days and now it’s targeting the resistance zone of 90.63. However, due to the broad-based weakness in USD, we’re expecting that it resumes the bearish trend below the 200 SMA at H1 chart and tests […]
GBP/USD is off from February 16th highs and it’s currently trading around the 200 SMA at the H1 chart, being supported by the 1.3939 level. If such area gives up in favor of the bears, the pair could go to test the 1.3753 level. To the upside, if it manages to break above the 1.4078 […]
The UK will see the release of employment data for December on Wednesday, at 0930 GMT. While practically every indicator is projected to have remained unchanged from the previous month, this is still a major risk event for sterling, as any deviation from the forecasts will likely have a large impact on the currency’s forthcoming […]
The EURUSD pair has moved higher to test resistance and create a high at 1.25549. This was marginally above the previous high at 1.25732. When this level failed as support, the market sent price lower through the broken blue trend line around 1.24911. Price action proceeded lower to the next support level at 1.24593, which […]
Gold is heading south following the strong pullback on the 1361.40 resistance level on Friday. Having a look at the short-term timeframe the price almost hit the 23.6% Fibonacci retracement near the 1335 level of the last up-leg with the low of 1236 and the high of 1366. The bearish correction is confirmed by the MACD oscillator. In the 4-hour […]
Markit’s eurozone flash PMI data for the month of February for the manufacturing and services sectors are due on Wednesday at 0900 GMT. The figures are expected to slightly ease relative to January, though still remain comfortably in expansion territory above 50 and continue to support the view that growth in the euro area is […]
In the last 24 hours, the currency market has not shown anything new, mostly because of the holiday season in China and the USA. The US dollar continued to move higher, but it was a very slow movement: on a small scale and not comparable with the previous week’s drops. The financial news feeds are […]
GOLD PRICES rallied from a brief dip below $1340 per ounce in London trade on Tuesday, rising against a firm US Dollar as New York traders returned from the long Presidents Day weekend. With China’s markets still closed for the New Year of the Dog celebrations, Asian stock markets closed lower while European equities […]
Subdued wage growth has been a major source of concern for the Reserve Bank of Australia (RBA) for years now. While the Bank expects wages to pick up, it does not expect that to happen quickly and has thus shown little urgency to raise interest rates. Against that backdrop, traders will keep a close eye […]
Markit Economics are updating us with the Flash PMIs for February on this Wednesday, so let’s take a look. Flash Manufacturing PMI data run begins at 8 o’clock with French data. German stats will be released a half an hour later and the whole bloc’s figures are set for publication at 9 AM. Both Services […]
