It’s 3 PM GMT on the final trading day of January, so let’s take a look at the FX Movers and Shakers. Kiwi Dollar has surged against the Japanese Yen to trade more than 1% in the green, which is the day’s top move. New Zealand Dollar’s bullish day puts the commodity currency on top […]
Bitcoin has been everywhere for the past six months – it even had a Big Bang Theory episode dedicated to it. That isn’t an insignificant fact either if you consider B.B.T. is the most-watched and top-rated scripted show on air. The problem is, now that everyone is watching, it seems that bitcoin’s bubble may have […]
Silver has come under strong pressure over the last trading days, in the short to medium-term timeframe, following the pullback on the 17.70 resistance level. The price penetrated to the upside of the symmetrical triangle that was holding since July 2017 and ended several days above the descending trend line. However, on Monday, the price slipped again below […]
Technology heavyweights Facebook and Microsoft will be releasing financial results for the quarter ending December 2017 after Wednesday’s US market close, with the former also releasing full-year results. The consensus recommendation for both Facebook and Microsoft is a “buy”, with the average consensus recommendation for their peer groups – Online Services and Software respectively – […]
Recently, the EUR/JPY pair has been trading sideways at the price of 135.60. Anyway, according to the 30M time – frame, I found a bullish breakout of the 2-day balance, which is a sign that buyers are in control. I also found a rising upward trendline and hidden bullish divergence on the moving average oscillator, […]
Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.4121. Anyway, accorrding to the 15M time – frarme I found a successful rejection of Fibonacci retracement 38.2%, which is a sign that selling looks risky. I aslo found a bullish cross on the stochastic oscillator, which is another sign of […]
EURUSD has retraced a little from recent highs at 1.25372 and in the process, appears like it may be forming a Bull flag. It is today testing the top of the flag pattern around 1.24600 and if a break out should occur then 1.25000 should be tested followed, by resistance at the high in quick […]
EURJPY has reversed back up again after finding support at the 134.10 barrier during yesterday’s trading session. The pair has been developing higher along its current trend line since August 18. Additionally, over the last hours, prices broke above the 135.00 handle and are trading above the short-term moving averages. The pair is recording a sharp upside movement and […]
The two-day meeting of the Federal Open Market Committee (FOMC) ends on Wednesday, January 31, with the publication of the interest rates decision at 07:00 pm GMT. The market consensus is to maintain the target for the federal reserves rate at 1.25-1.50% (no hike). The US economic data since the December meeting was relatively positive, […]
Bitcoin has been struggling to keep up with gains whereas the bears are more impulsive than the bulls. This kind of bearish momentum is expected to be a result of recent gloomy news, published about bitcoin and the cryptocurrency market. Facebook has banned all kinds of ICO advertisements as Facebook thinks most of the ICOs […]
GOLD BARS dealt in London’s wholesale market held flat against most major currencies on Wednesday morning, edging back up to $1343 per ounce for US investors as world stockmarkets steadied from their 3-sesson drop ahead of today’s US Federal Reserve decision on Dollar interest rates. Heading for a 3.7% rise for the first month […]
Cryptocurrencies came under selling pressure as reports emerged that that Bitfinex and Tether were subpoenaed by the U.S. Commodity Futures Trading Commission (CFTC) last week. Tether is a so called stablecoin, the idea behind them is to peg a cryptocurrency coin to something like the U.S. dollar. According to the Tether website, “Tether Platform currencies […]
Here are the latest developments in global markets: FOREX: Kiwi/dollar remained the biggest winner in early European trading, approaching fresh one-week highs at 0.7400 (+0.94%), while aussie/dollar reached an intra-day high at 0.8109. Dollar/yen inched up to 108.76 but was unable to recover earlier losses despite the BOJ increasing its medium-term Japanese government bonds. Trump’s […]
AUD/USD has been quite corrective and volatile recently inside the range of 0.8050-0.8120 area. Ahead of the high impact economic reports of USD this week, the currency seemed to be quite weak against AUD today. Today, AUD CPI report was published unchanged at 0.6% which was expected to increase to 0.7%, Trimmed Mean CPI report […]
USD/JPY is expected to trade with a bullish bias above 108.40. On a 30-minute chart, the pair marked a day-low of 108.38 yesterday (January 30) before posting a rebound. Currently, the pair is trading at levels around the ascending 20-period moving average, which has just crossed above the 50-period one. And the relative strength index […]
Daily Outlook In July 2017, an atypical Head and Shoulders pattern was expressed on the depicted chart which indicated an 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 the further bearish decline was expected towards 0.6800 (Reversal pattern bearish target). Evident […]
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. […]
We are already a month into the year 2018, so we get the first updates on the Manufacturing PMIs. Swiss Consumer Sentiment for January opens this agenda at a quarter to 7 AM. Index has been in the red since 2014, but it’s expected to finally turn positive. UK Nationwide House Price Index is up […]
It’s time once again for the Dukascopy Midday Snapshot with a look at how market players have fared during the morning session. Euro/Dollar has moved slowly up and rise has resulted in a gain of point 37%. Turnover is low and sentiment of the traders is neutral, standing at 4% short. Bulls have been in […]
Our first upside target which we predicted in yesterday’s analysis has been hit. The pair turned bearish as the prices broke below the rising trend line. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index is calling for a drop. Therefore, below 154.45, look for a […]
Morning Report: 07.00 London This morning, the dollar index is on the back foot after a muted reaction to Trump’s state of the union speech. This has been good news for the NZD/USD which is powering higher this morning. This comes despite the AUD/USD lagging, with heavier selling this morning that is reversing as we […]
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It’s time for another edition of the Dukascopy Spike Controller, where we take a closer look at the spread levels for 3 non-cross majors. Euro/Dollar has a daily average spread of point 33 pips and maximum separation has been 1.2 pips. The pair has once again moved towards the 1 25 level as it appreciated […]
End of an Era at the Federal Reserve. Today is an interesting day for Federal Reserve watchers. Today, Janet Yellen will issue her final statement as the Federal Reserve chair. To many people, it is a sad day but to others, it is the new norm. In 2014, Barrack Obama appointed Yellen to the prestigious […]
GBP/USD Technical Analysis: Focus Turns to the Fed. Yesterday, the cable rose despite a leaked document that showed the U.K’s economy will negatively be affected by Brexit. Perhaps, this happened because to investors, this was not actually news. This month, the pound has continued its climb against the dollar. It has risen from a low […]
USD/CAD has been quite impulsive with declines today after certain indecision and correction below 1.24 price area. Despite recent upbeat economic reports, USD failed to sustain the gain over CAD which indicates severe weakness of USD in the coming days. Moreover, President Trump spoke recently about a tax rate reduction, so his speech is expected […]
The trading plan 01/31/2018 The general picture: There is a corrective mood in the market. The long-awaited correction began in the US stock market. This was triggered perhaps by too rigid statements of Trump addressed to China during the annual speech in Congress. Yet, China is a very important “partner” for the U.S. economy, unlike […]
The American government institute found in official research on cryptocurrency that Bitcoin Cash is the original Bitcoin, while Bitcoin itself is a fork. In the document entitled “Blockchain Technology Overview” at the National Institute of Standards and Technology at the US Department of Commerce, the authors Dylan Yaga, Peter Mell, Nik Roby, and Karen Scarfone […]
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Here are the latest developments in global markets: FOREX: The dollar index continued to retreat on Wednesday, trading 0.2% lower ahead of the FOMC policy decision later in the day. STOCKS: Japanese markets were on the defensive, with the Nikkei 225 and the Topix indices falling 0.8% and 1.2% respectively, as the recent surge in bond […]
