Forex Market Reviews: http://thefxlounge.com/#Market-Review -Yen advances to 107.17 USDX remains below 90. -Malaysia Q4 GDP is +5.9% but that’s below the Q3 figure. -New Zealand’s food inflation problem. -Trumps crumbling infrastructure plan. -The most crowded trade. The overnight changes and price moves to be aware of by Pepperstone’s Market Analyst, Darren Sinden. New To Forex […]
Wave summary: There’s nothing new to add here. We continue to look for a clear break above the minor resistance at 1.7023 and, more importantly, a break above the resistance at 1.7094 confirming that the next impulsive rally higher to 1.7479 is developing on the way higher to 1.7777. Under this count, it’s essential that […]
Wave summary: There’s nothing new to add here. We continue to look for a spike closer to the resistance in the 134.73 – 135.38 area to complete an X-wave and turn prices lower again for a decline to the strong support near 131.20. That said, we are painfully aware of the possibility, that EUR/JPY will […]
The index made a retracement below the 200 SMA at H1 chart, looking to test the support zone of 89.36. A break below that area will expose the 87.88 level as the next key area for the bulls. To the upside, the critical resistance still lies at 90.63, at which the US Dollar could gain […]
GBP/USD continues to recover above the lows of February 9, and it’s looking to test the 200 SMA at H1 chart. Around that zone, we’re expecting a pullback to take place in order to test the support zone of 1.3753. That level should give up to allow more losses toward the 1.3604 level. MACD indicator […]
EUR/USD: This pair has moved upwards by 140 pips this week. The price is now above the support line at 1.2350, and it is going towards the resistance line at 1.2400. Should that resistance line get breached to the upside, another resistance line at 1.2450 would be targeted. Then the bias in the market would […]
When the European market opens, some Economic Data will be released such as German 30-y Bond Auction, Industrial Production m/m, Flash GDP q/q, Italian Prelim GDP q/q, German Final CPI m/m, and German Prelim GDP q/q. The US will also release the Economic Data such as Crude Oil Inventories, Business Inventories m/m, Retail Sales m/m, […]
In Asia, Japan will release the Prelim GDP q/q, Prelim GDP Price Index y/y, and the US will release some Economic Data such as Crude Oil Inventories, Business Inventories m/m, Retail Sales m/m, Core Retail Sales m/m, Core CPI m/m, CPI m/m. So there is a probability that the USD/JPY will move with low to […]
After starting 2017 around $1.22 – levels last seen in the 1980s – few would have believed that the British pound would end the year at $1.35. The currency’s gains didn’t stop there as cable went on to top the 1.43 level in January for the first time since the day after the Brexit referendum […]
Overview The GBP/JPY pair was affected by the strength of the moving average 55 around 151.00 level that forced the price to form a clear negative crawl by consolidating around 150.00 level. This confirms the domination of the correctional bearish bias to keep our expectations to target 38.2% Fibonacci correction level at 148.50. We should […]
Overview Gold price is carrying on a rally to reach the thresholds if the first target approaches 1,335.40. This keeps the bullish scenario active in the short term. Let me point out that surpassing this level will extend the gains to reach 1,365.97. Besides, holding above 1,316.48 is an important condition for extending the rally. […]
Overview Silver price begins to test the key resistance 16.56. As we mentioned in our recent reports, breaching this level is required to confirm extending the bullish wave towards 17.43. Please note that stochastic is generating a positive signal now to provide momentum that we are waiting for. So, the price has gained fresh impetus […]
Much like its big brother gold, silver has had a muted response to the recent stock volatility. Not only has the metal not rallied, it has actually fallen over the past couple of weeks, even despite the sharp drops in major global equity indices. That said, the longer this uncertainty and the turmoil last, the […]
Today, the UK’s Office of National Statistics) released the inflation data for January. The data showed that inflation was at 3%, above the analysts’ estimates of 2.9%. The data was released less than a week after the Bank of England (BOE) held its first meeting of the year. In this meeting, the committee guided that […]
CADJPY has plummeted aggressively today as it posted a fresh an almost 8-month low of 85.37. The pair has been underperforming breaking below the 50.0% Fibonacci retracement level near 86.00 of the up-leg with the low of 80.55 and the high of 91.65. The short-term technical indicators are bearish and point to more weakness in the market. […]
The International Energy Agency (IEA) today published their forecast for oil demand growth in 2018 at 1.4 million bpd from a previous projection of 1.3 million bpd. However, the boost in output, particularly in the U.S., will outweigh any growth in demand and increase global oil inventories. The IEA reported, “Today, having cut costs dramatically, […]
During Tuesday’s trading session, investors’ eyes were turned towards the British Pound due to a publication of inflation data in the United Kingdom. This release was particularly awaited by the market participants after the Bank of England signaled a possible faster pace of interest rate hikes. It turned out, the CPI inflation was higher than […]
The stock market continues to dictate the conditions for other asset classes while maintaining volatility at an elevated level. Since Monday the risky currencies(EUR, AUD, NZD, SEK, NOK) are under pressure, and “safe havens” are doing better. Although on Monday, more characters said that the worst was over and we are returning to stability, today […]
The German 30 Index has settled down over the last number of hours into a trading range between 12400.00 and 12200.00. This follows the highly volatile moves since the start of the month. With US inflation data tomorrow volatility could return but for now, the market is steady. There are a number of patterns on […]
GOLD PRICES rallied again versus the weakening Dollar in London trade on Tuesday, briefly touching $1330 per ounce as the US currency extended its losses after President Trump sent his 2019 fiscal plan to Congress for approval. “After so stupidly spending $7 trillion in the Middle East, it is now time to start investing […]
The US will see the release of CPI and retail sales data for January on Wednesday, at 1330 GMT. Forecasts suggest that inflation is set to slow somewhat, while retail sales excluding automobiles are anticipated to rise at the same pace as previously. These data – and particularly the inflation prints – could play a […]
EUR/USD: The EUR/USD has continued the bullish journey which started last week. At this time, it can still be called a bullish movement in the context of a downtrend, which would end up threatening the recent bullish bias (once the resistance line at 1.2400 has been breached to the upside). A movement to the downside […]
The oil futures marked the worst five-day period in the last 2 years, and only the rebound of US stock indices allowed the bulls to find the ground under the feet of the black gold. Over the past few months, Brent and WTI have confidently moved north due to optimism about improving the health of […]
This Valentine’s Wednesday is packed with high importance publication presents, so stay with us. Three important fourth quarter GDP reports from the Euro Zone open this agenda and German data is out first at 7 AM. German economy has now expanded for 13 quarters in a row. Italian stats will be published at 9 o’clock. […]
The morning session is over on this Tuesday, and it’s time for the Dukascopy Midday Snapshot. Euro/Dollar rose above the 1 23 level and the pair stands point 31% in the green. Turnover is average and sentiment of the traders is neutral, 8% short. Uptrend puts bullish market players in better positions so far today. […]
Here are the latest developments in global markets: FOREX: In currency markets, stronger-than-expected inflation figures in the UK justified the Bank of England’s potential plans to raise interest rates faster than expected, pushing pound/dollar towards a four-day high of 1.3923 (+0.49%). Pound/yen, though, recovered slightly to 149.62 but remained down on the day (-0.46%) as […]
Japanese preliminary Q4 2017 GDP growth figures will be made public on Tuesday at 2350 GMT. Economists expect the world’s third largest economy to post its eighth straight quarter of positive growth. A stronger-than-anticipated pace of growth could refuel market expectations for an exit from ultra-easy monetary policy by the Bank of Japan taking place […]
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, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997. […]
Recently, Gold has been trading upwards. The price tested the level of $1,330.00. Accorrding to the 15M time – frame, I found a successful rejection of the support at the price of $1,328.00, which is a sign that selling looks risky. I also found a higher highs and higher lows today, which is a sign […]
Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.2337. Accorrding to the 30M time – frame, I found a breakout of the pivot resistance 1, which is a sign that buyers are in control. I also found a successful rejection of the upward trendline, which is another sign of […]
