The broad-based weakness in the US Dollar Index continues to dominate the overall picture across the board, as the index is making a breakout of the support level at 89.36. Currently, USDX is on the way to test the next support which lies at 87.88. If a rebound happens in the current area, then the […]
The pair continues to trade in a strong bullish tone and it’s now heading towards the resistance zone of 1.4393. Around such area, we expect a take profit to be tested by the Cable and one could see a pullback to correct the overall bullish bias. To the downside, the nearest support lies at 1.4060. […]
Davos is the highest town in Europe, standing at more than 1 and a half kilometer high and it continues trend high on news this week, so let’s see what’s moving and shaking on the FX Markets. Dollar/Swissie is the mover of the day as Greenback weakness continues and the pair has declined by a […]
Sterling is on track to post its best weekly performance against the dollar since September as the currency managed to gain 3.0% in just four days, flying from 1.3900 to 1.4327. Brexit optimism, the dollar’s weakness as well as stronger than expected UK economic indicators were among the catalysts that persuaded investors to increase their net-long positions in the […]
Our downside targets which we predicted in yesterday’s analysis have been hit. USD/JPY is under pressure. Though the pair made a rebound, it is still capped by a declining 50-period moving average. The upside potential should be limited by the key resistance at 109.60. Even though a continuation of technical rebound cannot be ruled, its […]
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The Euro Rises to the 3-Year High Following Draghi’s Forward Guidance. The ECB’s Monetary Policy Committee (MPC) concluded their January meeting today. As expected, the committee left rates unchanged. The base interest rates remained at 0% while the deposit facility rates were left at –0.40%. As mentioned yesterday, this month’s meeting came at an interesting […]
Overview The USD/JPY pair carried on with its decline to succeed touching our yesterday’s projected target at 109.05. Please note that the price continues the negative pressure and attempts to break the mentioned level which supports the chances of a further bearish trend on the longer term basis. In case the break is confirmed, this […]
Overview The GBP/JPY pair managed to resume the bullish attack to record 155.90 level as it is displayed on the chart. Please note that it is important to monitor the price behavior now as it is forming 50% Fibonacci correction level. Breaching this barrier will confirm a further upward bias for the short term that […]
Overview Gold price is testing the support base formed at 1,357.50 after breaching it previously. The price needs to hold above this level to ensure the continuation of the expected positive scenario in the short term. The EMA50 still supports the price and protects it inside the bullish channel that appears on the chart. So […]
Overview Silver price is fluctuating at 17.43 now. As long as the price is above this level, the bullish trend will remain dominant in the upcoming sessions. Breaking it will put the price under the negative pressure again. The price may visit areas that start at 16.75 before any new attempt to rise. The EMA50 […]
A sense of anticipation can be felt across financial markets ahead of ECB meeting. It is widely expected that the central bank leaves monetary policy unchanged. Much focus will be directed towards Mario Draghi’s press conference. The Dollar remains under intense selling pressure while Sterling continues to venture higher. In the commodity arena, Gold has […]
GOLD PRICES hit new 17-month highs against the Dollar above $1360 per ounce at the start of London dealing on Thursday, rising as the US currency extended its slump after President Donald Trump’s Treasury Secretary said he welcomed a “weak Dollar”. Gaining for the 12th time in 18 trading days so far in 2018, […]
The ECB rate decision which is due at 12.40pm GMT and the Press Conference which is scheduled for 13.30pm GMT are probably the most anticipated market event for this trading week. No rate change is expected at this time, but the majority of the market participants will closely watch and listen for any changes in […]
NZDUSD has been developing in an upward sloping channel since December 2017 and during yesterday’s trading session it reached a fresh five-month high of 0.7436, though it ended the day in the red. However, it regained some ground over today’s European session. Short-term momentum indicators are signaling for opposite scenarios. The RSI indicator is pointing north in […]
Here are the latest developments in global markets: FOREX: The dollar stalled its downtrend near today’s 4 ½ -month lows versus the yen, last seen at 108.97 (-0.16%), and remained flat close to 3-year lows of 89.06 against a basket of currencies as traders continued to digest the comments made by the US Treasury Secretary who […]
US Treasury secretary Steven Mnuchin commented about the US Dollar price yesterday. He said that “naturally, a weak Dollar is good for us because it creates trade and opportunities.” Thus, Mnuchin was signed up on the pages of history as the first secretary of the treasury from the early 90s who does not agitate for […]
It’s 12 o’clock on this Thursday and it’s time for the Dukascopy Midday Snapshot. Euro/Dollar hit the daily high of 1 2460 after 6 AM, but most of the gains have been given up. Turnover is high and neutral sentiment is almost at an even balance. Bulls had their chances during the early hours, but […]
EUR/GBP is currently holding at the support area from 0.8690 to 0.8760 where GBP is now the dominant currency in the pair. Recently. in light of positive economic reports, GBP gained good momentum to push harder against EUR to break out of the range it has been stuck for a few months now. Recently, UK […]
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. […]
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, further bearish decline was expected towards 0.6800 (Reversal pattern bearish target). Evident signs of […]
AUD/USD is still trading in non-volatile bullish trend without any major retracement even towards the dynamic level of 20 EMA along the way. The weakness of USD lead to further impulsive gains of AUD whereas upbear economic reports from Australia helped its currency to sustain gains. Recently, Australia’s MI Leading Index report was published with […]
Friday brings a number of highly anticipated news releases, so let’s take a closer look. In fact, all the publications on this schedule are high importance events, starting with the preliminary British fourth quarter GDP, which is out at half past 9 AM. Third quarter data surprised somewhat on the upside, showing the strongest growth […]
The price of gold rose on Wednesday, hitting its highest level since August 2016. The move was triggered by the U.S. dollar plunging to three-year lows, after comments by U.S. Treasury secretary Steven Mnuchin in Davos that he welcomed a weaker currency. If the dollar continues to stay weak and inflation trends upwards then gold […]
Recently, the USD/JPY pair has been trading downwards. The price tested the level of 108.73. Anyway, according to the 30M time – frame, I found a fake breakout of yesterday’s low at the price of 108.96, which is a sign that selling looks risky. I also found a bullish engulfing candle pattern, which is another […]
The Bitcoin (BTC) has been trading sideways at the price of $11.270. Despite the warnings of the Israeli regulator that it won’t tolerate bitcoin to get somehow backdoor listed on the Tel Aviv Stock Exchange, public companies keep pivoting into the field. The latest example is a firm that focused on oil refineries until now. […]
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.4328. According to the 30M time – frame, I found successful rejection of the upward trendline, which is a sign that buyers are in control. I also found an oversold stochastic oscillator, which is another sign of strength. My advice is […]
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Last day been bearish for the Greenback, so let’s see if this has pushed the spreads higher for the three non-cross majors. Euro/Dollar’s long term average spread is point 33 pips. Peak separation of 1.3 pips was posted during the past 4 hours. Euro has surged against the Buck by more than 1% or 131 […]
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