The Dukascopy TV team is here with this week’s last Support and Resistance Level Report. Here’s how our in-house model tests out. We start with the Euro/Dollar, which has R1 of 1 2540 and S1 of 1 2430. R1 leads in resistance with 7 confirmations, including a price channel indicator upper line and a 2 […]
Morning Report: 07.00 London This morning, the dollar is back on the rise ahead of today’s Non Farm Payrolls after yesterday’s losses. Yesterday’s poor performance was driven by activity in treasuries which superseded strong economic data and results from tech giants who reported results last night. The euro is lagging slightly this morning, but generally […]
Today is Non-farm Payrolls day in the US. This data release is generally one of the most important of the month, being a leading indicator of consumer spending and economic health, made public shortly after it is calculated. It charts the change in the number of employed during the previous month. Also released at the […]
Yesterday, the global crude oil prices dropped after the EIA reported increasing inventory builds in the United States. On Wednesday, the agency reported inventory builds of 6.8 million barrels, which beat analysts’ estimates. According to the organization, the gasoline stockpiles fell by 2 million barrels down from the 3.1 million it reported in the previous […]
EUR/USD: This pair is now going gradually upwards, following its recent short-term consolidation. Price is now above the support line at 1.2450, almost reaching the resistance line at 1.2500, which would soon be breached to the upside, as another resistance line at 1.2550 is targeted today. USD/CHF: The USD/CHF pair has been able to continue […]
USD/CHF is expected to move toward 0.9220. The pair remains under pressure below its key resistance at 0.9300, and is now testing its support at 0.9250. Both the 20-period and 50-period moving averages are heading downward, and should maintain the strong selling pressure on the prices. Last but not least, the relative strength index is […]
Our first upside target which we predicted in yesterday’s analysis has been hit. GBP/JPY is expected to trade with a bullish outlook. The pair is clearly in an up-trend, backed by its rising trend line. A strong support base has formed around 136.00, which should limit any downside room. Besides, the relative strength index is […]
NZD/USD is expected to trade with bearish outlook. The pair remains under pressure below its key resistance at 0.7400, and it is also capped by its falling 20-period and 50-period moving averages. The relative strength index is bearish below its neutrality area at 50. Hence, as long as 0.7400 is a resistance, look for a […]
Forex Market Reviews: http://thefxlounge.com/#Market-Review -The USD claws back some gains. -XRP and ETH feel the heat after talk of India ban. -Chinese exporters fear currency strength. -Mexicos manufacturers are upbeat despite NAFTA impasse. -About those millions US jobs. The overnight changes and price moves to be aware of by Pepperstone’s Market Analyst, Darren Sinden. New […]
Wave summary: The EUR/NZD pair continue to follow the expected path, and a break above minor resistance at 1.6973 will confirm more upside pressure towards 1.7360 on the way higher to 1.7479 and 1.7777, which is our long-term target. Short-term support is now seen at 1.6926 and at 1.6890 again, which should be able to […]
Wave summary: Our concern that the lack of downside pressure following the break below 135.00 could lead to a final spike higher to the original (D) wave target at 137.37 has been confirmed by the break above 136.30. In the short term a break back below support at 136.60 will indicate that the wave (D) […]
When the European market opens, some Economic Data will be released such as Italian Prelim CPI m/m, PPI m/m, Spanish Unemployment Change. The US will also release the Economic Data such as Revised UoM Inflation Expectations, Factory Orders m/m, Revised UoM Consumer Sentiment, Unemployment Rate, Non-Farm Employment Change, Average Hourly Earnings m/m, so amid the […]
In Asia, Japan will release the Monetary Base y/y, and the US will release some Economic Data such as Revised UoM Inflation Expectations, Factory Orders m/m, Revised UoM Consumer Sentiment, Unemployment Rate, Non-Farm Employment Change, Average Hourly Earnings m/m. So, there is a probability that the USD/JPY pair will move with medium to high volatility […]
NZD/USD is currently residing inside a corrective and volatile structure above 0.73 area with no definite trend momentum in the market. USD has been quite weaker in the comparison since the December Interest Rate hike which still affects the gains in the market. Today a number of high impact economic reports on the USD side […]
USD/CHF has been quite impulsive with the bearish gains in the pair after breaking below the 0.9450 area with a daily close. Ahead of the high impact economic reports to be published today for the USD, the currency seemed to be quite weaker in comparison. Today, USD Average Hourly Earnings report is going to be […]
The price has shot up and reached our profit target perfectly. We are now seeing major resistance at 89.23 (Channel exit potential, horizontal swing high resistance, Fibonacci retracement) and a drop could occur at this level to push the price down to 87.83 (Fibonacci extension, horizontal swing low support). It’s important to keep an eye […]
The price has finally broken our major ascending support triggering a bearish move below our pullback resistance at 0.8036 (Fibonacci retracement, horizontal overlap support, ascending support, bearish divergence). We now expect an influx of bearish momentum to see the big drop down to 0.7894 support (Fibonacci retracement). RSI (34) is starting to break our 46% […]
The index is still trading below the 200 SMA at the H1 chart and comatose around the 89.00 handle across the board. That’s an indication of sideways moves to take place in the short-term and USDX is waiting for a catalyst that triggers strong moves. If the January 25th lows give up, then it can […]
GBP/USD continues to trade in a bullish tone above the 200 SMA at the H1 chart and it seems we could expect a break above the 1.4280 level in order to allow further gains toward the 1.4393 zone. The bullish continuation is expected to hold for at least several days and the next target would […]
Corporate giants Amazon, Apple and Google owner Alphabet will be releasing earnings reports for the quarter ending December 2017 after Wall Street’s closing bell on Thursday. The consensus recommendations for all three stocks is “buy”, with the average consensus recommendation for Amazon’s Department Stores peer group being a “hold”, while Apple’s and Alphabet’s peer groups […]
Let’s see where the 8 majors trade at 3 PM GMT on this Thursday, first trading day of February. Euro/Australia is the mover of the day with an increase of point 9%. Some of the gains were given up after the daily high was hit. There were no revisions to final Euro Zone Manufacturing PMI […]
Gold prices advanced in January, as the weaker US dollar and some seasonal effects boosted the appeal of the precious metal. While gold’s broader direction still appears to be higher, there is an increasing risk of a near-term correction lower, before the next leg up in the metal. Gold, like most other precious metals, is […]
All our targets which predicted in yesterday’s analysis have been hit. USD/JPY is expected to continue an upward movement. The pair rebounded from the rising 20-period moving average after a pullback from 109.10. The relative strength index has just landed on its neutrality level at 50 and is turning up. The downside potential should be […]
The Dollar remains under pressure despite Wednesday’s relatively hawkish Federal Reserve meeting. Although US interest rates were left unchanged, the central bank expressed optimism over the health of the US economy and rising inflation. Sterling was under pressure after UK manufacturing data disappointed while Gold edged lower thanks to renewed US rate hike expectations. – […]
NZDUSD has been trading within a consolidation area with upper boundary the 0.7420 resistance level and lower boundary the 0.7285 support barrier. The narrow range has been holding since January 24 where the price reached a five-month high of 0.7436, though it ended the day in the red and the bullish phase weakened. In the […]
GBP/JPY is expected to trade with a bullish outlook. The pair bounced off its key horizontal level at around 154.85, and it is also supported by its rising 50-period moving average. The process of higher highs and lows remains intact, which should confirm a positive outlook. Besides, the relative strength index is bullish above its […]
The GBPUSD pair tried to continue higher on the 25th of January but profit takers forced price lower under the rising resistance trend line at 1.42000. The 1.43450 area was the extent of gains made so far, but support at 1.40000 has been confirmed, leaving a good level to position against. The 4-Hour moving averages […]
Newsflow has eased back on the final trading day of this week, but we do get the key update on US employment for January. UK Construction PMI for January opens this agenda at 9:30 in the morning. Construction sector has been expanding in the final three months of 2017, after the index briefly dipped South […]
EUR/GBP has been volatile and corrective recently, residing inside the support of 0.87 to the 0.8750 area. Due to the recent mixed economic reports of both EUR and GBP, the market sentiment has been quite indecisive with the upcoming directional momentum in the pair and lower liquidity at the end of the first month of […]
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, further bearish decline was expected towards 0.6800 (Reversal pattern bearish target). Evident signs […]
