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NZDUSD has been tumbling over Wednesday’s and today’s Asian sessions, while it recorded a fresh one-month low of 0.7175. The aggressive sell-off pushed the price below several key levels such as the 23.6% Fibonacci retracement level at 0.7280 from 0.6780 to 0.7436, 0.7255 and 0.7230. In the 4-hour chart, short-term indicators are signaling a bearish movement. The Relative Strength Index (RSI) is holding […]

Here are the latest developments in global markets: FOREX: The dollar index was marginally lower on Thursday, after previously posting notable gains on Wednesday, as yields on longer-dated US Treasuries moved higher. Meanwhile, sterling was a little higher ahead of the Bank of England’s “Super Thursday” policy meeting. The kiwi dollar slipped, as the RBNZ disappointed those looking […]

The biggest overnight drop is being observed in NZD after the RBNZ interest rate decision and the RBNZ Governor Grant Spencer dovish comments. The Shanghai Composite Index broke successfully from the rising sentiment on the Asian stock exchanges when it dropped -1.5% mostly because of the selling of companies from the energy industry and financial […]

The Dollar index has reversed short-term trend to bullish. Price broke above the 89.60 resistance level, has also broken out above the 4-hour cloud, back tested it as expected and is making new higher highs. For the last few weeks I have been saying that the downside was limited and we should expect a big […]

Gold remains in a bearish trend making lower lows and lower highs. Gold has the potential to fall below $1,300 towards $1,290-80 at least. Any bounce as long as price remains below $1,345 is a selling opportunity. Gold price is trading below both the tenkan- and kijun-sen. Trend is bearish as long as price is […]

Let’s see how the technical indicators line up with the interbank sentiment at 8 AM GM on this Thursday. Euro/Dollar has 4 neutrals in the hourly scale. Mid term chart is mostly red and daily range shows mixed results. Interbank sentiment is bullish at close to 20% long. Most of the indicators are neutral for […]

Morning Report: 07.00 London This morning, the US dollar is mixed after yesterday’s rally in line with stocks. This comes as hopes rise for a breaking of the US budget deadlock. In turn, the dollar pairs are generally mixed. The NZD/USD is slipping lower as China and a neutral RBNZ weigh on the antipodean pairs. […]

The Year The World Stopped and Watched Cryptos. 2017 – Although many people would argue that it was the year the news were dominated by a certain over-tweeting President, but the truth is everyone was actually watching Bitcoin. We haven’t seen such a cultural response to anything relating to the financial markets since the stock-broker […]

USDJPY has been trading within a sideways channel in the daily timeframe since April 2017 with upper boundary the 114.50 significant and multi-tested resistance level, and with lower boundary the 108.20 support level, which has been penetrated once in September. Currently, prices are developing below the 110.50 barrier and the 20-day simple moving average. The pair tested […]

Breaking forecast 02/08/2018 EURUSD: Expect the continuation of the decline On Wednesday, the euro rate broke down the low of the current week at 1.2313 and fell to 1.2245. There were no important news in favor of strengthening the dollar: It is likely that in the market, there is repositioning of large players after a […]

AUD/USD has been impulsive amid the bearish pressure after rejecting off the 0.81 resistance area recently. Due to recent US positive Employment Change report, the US currency has regained its momentum over AUD after trading in a non-volatile bullish trend for a certain period of time. Recently, Australia’s Retail Sales report was published which showed […]

The Bank of England is expected to largely proceed as normal today on ‘Super Thursday’ when the central bank releases its policy decision and statement plus the Inflation Report. US Fed’s Dudley spoke at an event jointly hosted by Thomson Reuters and the European American Chamber of Commerce in New York about Banking Culture. Dudley […]

In the past year, the price of crude oil has surged by more than 50%. In June, the price bottomed at $42 a barrel and then started a rally that saw it reach a three-year high of $66 last month. This week however, the rally seems to have ended with the price of WTI falling […]

Technical outlook: The EUR/USD price action nears to the wave 4 termination point near the 1.2220/50 levels, as depicted on the daily chart here, with the last wave being highlighted. The 5th wave is expected to resume from around the 1.2200/20 levels if the above wave counts hold to be true. Please note that fibonacci […]

USDCAD has been quite impulsive with the bullish gains recently which is expected to continue further in the coming days. USD has been the dominant currency since the recent Employment Change report was published with the significant increase which had a positive impact on the currency to gain against CAD. Ahead of the Employment Change […]

EUR/GBP has recently rejected off the 0.89 resistance area having downwards sloping trend line which is expected to push the price lower towards the 0.8750 support area in the coming days. The consolidation in the pair was due to mixed economic reports on both currencies of the pair where GBP is currently expected to take […]

Forex Market Reviews: http://thefxlounge.com/#Market-Review -Chinese imports grow by 30% in Jan. -The Renminbi falls back -USDX back above 90 -New US budget may fail in Congress. -PM May to meet Japanese business leaders. -Cross-asset correlations. The overnight changes and price moves to be aware of by Pepperstone’s Market Analyst, Darren Sinden. New To Forex Trading? […]

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 bearish decline was expected towards 0.6800 (Reversal pattern bearish target). Evident signs […]

Monthly Outlook In January 2015, the EUR/USD pair moved below the major demand levels near 1.2050-1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450. In March 2015, the EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August […]

NZD/USD is under pressure and expected to move further downward. The pair accelerated on the downside. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index calls for a drop. Hence, as long as 0.7270 is not surpassed, look for a further decline with targets at 0.7160 […]

Wave summary: There was no time for a deeper corrective decline in the wave ii. After the direct break above 1.6976 we are looking for a direct break above the resistance at 1.7101 that confirms a continuation higher towards 1.7479 on the way higher to 1.7777. Support is now seen at 1.6976 and again at […]

Wave summary: EUR/JPY has declined nicely from the resistance near 135.75, but we do think, that a more complex b-wave correction could be unfolding. If this is the case, then a final rally to just above 135.75 could be seen before the next real downside pressure takes place towards 131.20 and below. That said, we […]

The index managed to do a rebound above the 200 SMA and gathered momentum towards the 90.30 level. A higher continuation is expected once USDX does a break above 90.63. To the downside, the 200 SMA continues to provide dynamic support but if it gives up, the bearish side could get again another breath. H1 […]

GBP/USD made another leg lower and is consolidating losses below the resistance zone of 1.3937. However, we might expect a resume of the bullish bias in the nearest term and if that happens, the 200 SMA at the H1 chart could be challenged. If it manages to break below 1.3850, doors will open for a […]

When the European market opens, some Economic Data will be released such as German Trade Balance. The US will release the Economic Data too, such as 30-y Bond Auction, Natural Gas Storage, and Unemployment Claims, so, amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Breakout […]

In Asia, Japan will release the Economy Watchers Sentiment, 30-y Bond Auction, Current Account, and Bank Lending y/y data, and the US will release some Economic Data such as 30-y Bond Auction, Natural Gas Storage, and Unemployment Claims. So, there is a probability the USD/JPY will move with a low to medium volatility during this […]

The price is testing major resistance at 1.2582 (Fibonacci retracement, Fibonacci extension, impulsive Elliott wave structure, horizontal swing high resistance) and we expect a strong reaction from this level to drive the price down to 1.2407 support (Fibonacci retracement, horizontal overlap support). It’s important to note the intermediate support level at 2.2458 (Fibonacci retracement, breakout […]

The price has reversed perfectly from our selling entry yesterday and is working its way towards our profit target. We remain bearish looking to sell on strength below major resistance at 1.3991 (Fibonacci retracement, horizontal pullback resistance, double top breakout level) for a strong push down to at least 1.3639 support (Fibonacci extension, double top […]

Gold has long been tormented, suffering between the largest drop in US stock indices in the past 6.5 years and the decline in the yield of US Treasury bonds. Moreover, the dollar is strengthening. Ultimately, the last factor won, forcing the quotes of the XAU / USD pair to collapse to four-week lows. Impressed with […]