The Dollar Retreats as Investors Eye Inflation Data. Last week, the dollar surged against most of its global peers. It rose to $90.57, which is its highest level since January 23rd. Yesterday, the dollar index fell a few basis points to end the day at $89.97. This fall came as the volatility in the market […]
GBPUSD fell as low as 1.3770, a level that has been standing near the 40-day simple moving average during the past week. Since yesterday, the price has been trading slightly higher and successfully surpassed the 23.6% Fibonacci retracement level near 1.3820 of the last upward movement with the low of 1.2100 and the high of 1.4345. Looking at the […]
We keep buying from 1.2300, maybe falling to 1.2270, the stop is at 1.2255, the target is 1.2400. In case we are wrong: Sell for a breakthrough down 1.2205, stop at 1.2250, profit at 1.2100. There is no strong news right now. It is very likely that the market will react actively to inflation data […]
Swiss Consumer Price Index (YoY) (Jan) was 0.7% v an expected 0.8%, from a previous 0.8%. Consumer Price Index (MoM) (Dec) was as expected at -0.1% from 0.0% previously. USDCHF fell from 0.93976 to 0.93664 after the data was made public. UK MPC Member Vlieghe spoke at the Resolution Foundation in London. Some of the […]
We would like to inform you that due to the Chinese New Year and President’s Day, the trading hours of various instruments will be affected on 15, 16 and 19 February 2018. The normal trading hours will be resumed from then onwards. Please review the tables below to see which instruments will be affected and […]
EUR/JPY has been quite indecisive after breaking below the 134.50 support area from where the price is expected to proceed lower towards the 131.50 support area in the coming days. JPY has been the dominant currency in the pair since the price bounced back from the 137.50 price area and is expected to continue its […]
GBP/USD has recently broken the support area of 1.3850-1.3950 which has turned as a resistance area now. The market flow has been quite slow and corrective after breaking below the support and is expected to proceed lower in the coming days. GBP having unchanged after Official Bank Rates and Hawkish Bank of England statement failed […]
USD/JPY has been volatile and corrective at the edge of the 108.50 support area which is currently broken with a strong bearish pressure. After the recent Average Cash Earning report of JPY published last week with better than expected value, JPY gains has been quite impulsive over USD which is expected to continue for a […]
Forex Market Reviews: http://thefxlounge.com/#Market-Review -GBP and Euro gains vs USD. -Safe haven currencies edge higher -US equities post a second day of good gains. -Pressure mounts on Jacob Zuma. -Aussie business sentiment at a 9 month high. -Will you earn more than your parents? The overnight changes and price moves to be aware of by […]
EUR/USD has recently broken below the 1.23 support area with a daily close which is currently showing some retracement with some bullish momentum. USD has been quite aggressive with the gains recently after the positive Employment Change report was published and is expected to proceed further with the gains against EUR. This week, there is […]
Wave summary: The rally from 1.6854 is not yet convincing, but if support at 1.6897 is able to protect the downside for a new rally above minor resistance at 1.7023 the correction in wave ii should be complete and wave iii developing for a rally to and above resistance at 1.7479 on the way higher […]
When the European market opens, some Economic Data will be released such as French Prelim Private Payrolls q/q. The US will release the Economic Data too, such as NFIB Small Business Index and Federal Budget Balance, so, amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: […]
In Asia, Japan will release the Prelim Machine Tool Orders y/y and PPI y/y data, and the US will release some Economic Data such as NFIB Small Business Index and Federal Budget Balance. So, there is a probability the USD/JPY will move with a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. […]
Wave summary: We continue to look for wave x to make more progress towards the upside and ideally closer to resistance near 135.85 before turning lower again for the next decline towards 131.20 on the way lower to the ideal wave (E) target at 123.43. Short-term support is seen at 133.25, which ideally will protect […]
USDX remains capped by the resistance level of 90.63, trading inside a narrow range. The 200 SMA is directionless but still has the potential to provide dynamic support across the board. If the 90.63 level gives up, then the next target would be the 91.75 area. MACD indicator is entering the negative territory, favoring to […]
The pair comatose below the 200 SMA at the H1 chart and remains well supported by the 1.3753 level across the board. Cable could perform a break of such bottom area in order to reach the 1.3604 zone, at which could gather momentum to make a rebound as a corrective move. MACD indicator lacks direction, […]
The price is now in a new descending channel and testing strong resistance. We remain bearish looking to sell below 0.7283 resistance (Fibonacci retracement, horizontal overlap resistance, channel resistance) for a further push down to at least 0.7188 support (Fibonacci retracement, horizontal pullback support). RSI (55) is now below our 51% resistance level signaling that […]
The price has started to reverse nicely from our selling area. We remain bearish below major resistance at 1.2654 (61.8% Fibonacci retracement, 61.8% Fibonacci extension, Impulsive Elliott wave structure, horizontal overlap resistance, shooting star reversal) and a strong reaction could occur at this level to push the price down towards 1.2270 support (Fibonacci extension, horizontal […]
http://www.elliottwave.com/Investor-Research/Financial-Forecast-Service?tcn=ytv1703 Novice investors tend to buy and sell stocks at precisely the wrong times. But, even “corporate insiders” can badly mis-time the stock market. Just look at this chart. http://www.elliottwave.com/r.asp?rcn=ytvideos1403&url=http://www2.elliottwave.com/club/signuplt/newsletters.aspx Learn How the Wave Principle Can Improve Your Trading Related Posts:AUD/USD: Will correction turn into steady upward trend? October 27, 2023 After the publication of […]
While the world economy is preparing to welcome higher inflationary pressures under a pro-growth economic landscape, the UK hopes to see inflation falling, easing the pressures on consumers who saw their real incomes narrowing after the Brexit Referendum. On Tuesday, January’s consumer prices (CPI) could bring good news to British consumers as forecasts suggest that […]
GBP/JPY is expected to trade with bearish outlook. Though the pair is rebounding and is challenging the declining 50-period moving average, it is still capped by a falling trend line since February 6. Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited. To sum up, below 151.10, […]
NZD/USD is expected to trade with a bullish bias above 0.7225. The pair rebounded from 0.7225 after touching the rising 50-period moving average. The relative strength index is above its neutrality level at 50 and lacks downward momentum. Hence, as long as 0.7225 is not broken, look for a further advance with targets at 0.7280 […]
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The AUDUSD pair has broken its downward sloping trend line from the last ten days, after testing support at 0.77600. Resistance is now found at 0.78430 and 0.78566. The 50-period MA in the 4-hour timeframe is located at 0.78849, with the 200-period MA at 0.78932 close to resistance at 0.78960 and the 0.79000 level. The […]
SPOT GOLD bounced back on Monday morning in London as the US Dollar declined after last week’s rally while investors wait for US President Trump’s spending plan and inflation data, writes Steffen Grosshauser at BullionVault. Gold Prices started the week by rallying from $1316 to $1319 per ounce after their second consecutive weekly decline, while […]
Gold is trading lower following the strong pullback on the 1366 resistance level on January 25. Having a look at the short-term timeframe the price almost hit the 38.2% Fibonacci retracement near 1316 level of the last up-leg with the low of 1236 and the high of 1366. The bearish correction is confirmed by the near-term technical […]
Recent weeks have brought investors in the stock market a lot of excitement, as strong increases since the beginning of the year have been wiped away in a few sessions without major problems, and the stock market has again hit the tops of news sites as a negative hero. Nevertheless, the scale and speed of […]
The FTSE 100 index managed to rebound without visiting the lows of 6915 after a volatile session on Friday. This morning, global equity markets have opened with bullish sentiment. In the 4-hourly timeframe, FTSE 100 is attempting to break above the falling resistance trend line, with a potential inverted head and shoulders pattern forming with […]
USD/ZAR Technical Analysis: Rand on Edge Decision on Zuma Looms. The South African dollar is stronger today after the New ANC head promised to resolve the row on Jacob Zuma on Monday. As you recall, a few weeks ago, the South African ANC party held its meeting to elect its new leader. The two competitors […]
Week Ahead: Focus Shifts to Inflation. Last week, amidst the volatility chaos, the focus among investors was on central banks, notably, the Bank of England. In the prior week, they paid close attention to the U.S jobs data and the Federal Reserve. To investors, inflation is probably the most important data. This is because, the […]
