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 […]
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The Australian dollar posted an incredible rally of 8.5% against its US counterpart during early December and late January, fully reversing the September-December downtrend and setting a 2½-year high of $0.8135. However, that rally is now looking in trouble, with the pair declining 3.5% from its January 26 peak and technical indicators turning negative. But […]
USDCHF bears have been leading the market since November, driving the pair to a 2½-year trough of 0.9246 last week. This week, however, bulls seem to be taking back control, with prices being on track to break two-week highs. In the 4-hour chart, technical indicators suggest that the recent uptrend could be in play in the near-term. The […]
Overview The 55 moving average carried on forming additional support at 151.00 to confirm the GBP/JPY pair’s affection by the bullish bias for the near- term and medium-term trades. Thus, we are still waiting for new chances of gaining the bullish momentum. Then, we can expect the main targets starting from 153.50, followed by 50% […]
Overview Gold price ended yesterday’s trading below 1,335.40 that confirms the return of the correctional bearish trend in the intraday trading. We are waiting for a test of the 1,316.48 level as the next station. Therefore, the bearish trend is suggested for the short term, supported by the EMA50. Please note that breaking the target […]
Overview Silver traded with a downward bias yesterday, aiming to test the key support of 16.56. This is needed to keep the price stability above it. Besides, stochastic is still providing positive signals on the daily time frame. Such price action encourages us to keep the overall bullish scenario for the short term. We are […]
One of the major hallmarks of the Bull Run after the financial crisis was the lack of volatility. The implications of this lack of volatility has been dire. In the past few quarters, the trading revenues from big investment banks has fallen while others have been forced out. As shown in the chart below, the […]
Silver has come under pressure since Tuesday’s session, in the short-term timeframe. The price slipped below the 16.73 barrier and continues the strong bearish movement. As a side note, the precious metal has been trading within a descending triangle since July 2016. In the short-term timeframe, technically, the bias is bearish. Momentum indicators are also endorsing the decline. The MACD […]
Bitcoin (BTC) has been trading upwards. The price tested the level of $8.443. The good news from Singapore made an impact on the currrent bitcoin corrective rally. The Monetary Authority of Singapore has been studying cryptocurrency developments and there is no strong case to ban crypto trading, a high-ranking government official told lawmakers. The adoption […]
Dukascopy FX TV Team is back with the Economic Calendar for Thursday, 8th of February. German trade balance for December opens this agenda at 7 o’clock in the morning. Surplus expanded sharply in November by more than 2 billion Euros. Ozzy Dollar trades will be watching closely a speech by RBA Governor Philip Lowe in […]
The USD has found some strength during the selloff in stocks, resulting in a move higher from the lows at 1.22483 to 1.25663. It has retraced lower to 1.24900 today and looks to have formed a bear flag shown here in red. This could target 1.24500 if it breaks down and this area is strong […]
EURJPY has reversed back down again after finding resistance at the 135.80 barrier during yesterday’s and today’s trading sessions. The pair has been developing lower, reaching the ascending trend line, which has been standing since August 18. Additionally, over the last hours, prices broke below the 23.6% Fibonacci retracement level at 135.12 of the up-leg from 127.45 […]
Recently, the GBP/USD pair has been trading sideways around the level of 1.3914. I found that the price refused to test pivot support 1 at level of 1.3858, which is a sign that sellers lost power. I also found oversold conditions on the stochastic oscillator, which is another sign of strength. My advice is to […]
Recently, Gold has been trading downwards. The price tested the level of $1,322.45. According to the 30M time – frame, I found a successful rejection of the pivot level at the price of $1,330.23, which is a sign that sellers are in control. I also found a hidden bearish divegence on the stochastic oscillator, which […]
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 decline was expected towards 0.6800 (Reversal pattern bearish target). Evident signs of […]
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. […]
The recovery of Monday’s declines was not entirely convincing so far, but from the point of view of the stockholders, it is good that it was there at all, because during the day there was little indication of the implementation of the upward scenario. It seems that the sentiment on the market has changed quite […]
There is no sign that the RBNZ, which will publish its monetary policy report today, will need to tighten its monetary policy soon. Prospects for economic growth remain good, but inflation still needs no reaction from the bank.Unemployment has been falling gradually for more than five years, from close to 7.0% in 2012, a sign […]
Gold dropped more than 1% to its lowest in over three weeks on Tuesday, as a big recovery in the U.S. stock markets exerted downward pressure on the safe haven precious metal. Today’s trade saw some dip buying in the yellow metal and prices recovered 0.3%, but it remains to be seen if the rebound […]
GOLD PRICES rallied from yesterday’s near 4-week low against the Dollar on Wednesday but held below $1330 per ounce as world stock markets failed to follow Wall Street’s sharp bounce from the last week’s 6% plunge. Both the Euro and British Pound continued their retreat against the US currency on the FX market, helping […]
The morning session is over on this Wednesday, so let’s look back at the rate movements and trader performance. Euro/Dollar declined by 68 pips after 7 AM and a loss of point 25% has been posted. Turnover is low and neutral sentiment of the traders is almost at an even balance. Late decline has provided […]
Here are the latest developments in global markets: FOREX: The yen extended its uptrend against the dollar, sending dollar/yen lower to 109.10 as investors maintained their risk-averse behavior after the recent sell-off in stock markets. The dollar index, though, was building positive momentum on the back of a weaker euro and pound, climbing to 89.87 (+0.33%). Euro/dollar slipped […]
China will see the release of trade data for the month of January on Thursday, with analysts projecting both exports and imports to grow at a solid pace; the release is tentative, lacking a fixed time of release. Figures on January producer and consumer prices out of the world’s second largest economy will also be […]
The Dukascopy FX TV team helps you get the best deals from your broker with the Spike Controller. Euro/Dollar’s daily average spread is point 35 pips and peak separation has been 1 and a half pips. The pair dropped yesterday by point 83% or 103 pips, before rising from the low of 1 2314. Past […]
Overview: The NZD/USD pair didn’t make a significant movement yesterday. There are no changes in my technical outlook. The bias remains bullish in the nearest term testing 7437 or higher. The NZD/USD pair is climbing from the price of 0.7305 in the long term. It should be noted that the support is established at the […]
Overview: As expected, the USD/CHF pair continues to move downwards from the the spot of 0.9377/0.9333. The price of 0.9377 represents the first resistance on the four-hour chart. The pair fell from the levels of 0.9377 and 0.9333 to the bottom around 0.9393. Today, the first resistance level is seen at 0.9333 and 0.9377 followed […]
Eurozone Indices of business activity in the euro area indicate a steady increase in optimism. Composite index PMI Markit rose to 12-year level, exceeding pre-crisis indicators. The volume of production orders in Germany exceeded forecasts in December, the indicator of investor confidence Sentix, despite a slight decrease, keeps at historical highs. The flyweight added a […]
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