In Asia, Japan will release the Housing Starts y/y, Consumer Confidence, Prelim Industrial Production m/m and BOJ Summary of Opinions data, and the US will release some Economic Data such as Federal Funds Rate, Crude Oil Inventories, Pending Home Sales m/m, Chicago PMI, Employment Cost Index q/q, and ADP Non-Farm Employment Change. So, there is […]
The price continues to test our buying area and ascending channel support. We think that it might be doing a fake breakout now because RSI has not broken below 50% yet. We remain bullish above major support at 0.7312 (Fibonacci retracement, horizontal overlap support, long-term ascending support, bullish price action) for the price to continue […]
Reason for the trading strategy (fundamentally): The biggest news that has driven Bitcoin lower recently was Facebook’s new policy that bans advertisements involving bitcoin and initial coin offerings, citing that they are frequently associated with misleading and deceptive promotional practices that are not currently operating in good faith. Reason for the trading strategy (technically): Bitcoin […]
The index continues to move within a neutral-to-bearish tone across the board and looks forward to breaking below January 25th lows. However, we’re expecting that it found strong support over there because a new cycle could have started and then it could target levels above the 200 SMA. If it manages to break above 89.36, […]
GBP/USD managed to recover from the 200 SMA at the H1 chart and it seems we could expect a rally towards the resistance zone of 1.4280. Such move could strengthen the bullish path for the short-term and if the pair does a break above that barrier, the next target would be the 1.4393 level. MACD […]
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Firesteel took the opportunity at the bottom of the precious metal markets to acquire this gold mine and is financed to bring it back into production in summer 2018, Jochen Staiger, CEO & Founder, Swiss Resource Capital AG. You can view this video and the full video archive on the Dukascopy TV page: http://www.dukascopy.com/tv/en/#233762 Смотрите […]
WTI oil futures for March delivery broke below what was thought of as a strong support at the 50-period simple moving average of 64.67 in the 4-hour chart, hinting that further corrections could emerge in the near term. This followed unsuccessful efforts to crawl back to a three-year high of 66.63 reached last week. The market is building negative […]
China’s official manufacturing and non-manufacturing PMIs for the month of January are both scheduled for release on Wednesday at 0100 GMT. According to forecasts, the manufacturing index is set to tick down, while the non-manufacturing print is anticipated to remain unchanged, albeit at a level consistent with healthy expansion in the sector. Even though a slight slowdown […]
Fed’s two day meeting starts today and US stocks opened sharply lower, so let’s see what’s moving and shaking on the FX markets. Ozzy/Swissie started heading lower shortly after midnight and the pair is point 64% in the red to post the day’s top move. Swiss data was mixed – trade surplus expanded, but economic […]
The German index has dropped back from support after setting a new High last week at 13600.00. The market barely broke above the previous high at 13535.00 before the price was pushed lower. The divergence between this index and other global indices is stark. The US markets have been strong trending higher, while the Germany30 […]
EU Data release. European Union (EU) is a strange marriage. Formed almost 30 years ago, the union has seen its ups and downs. Some of its countries like Germany and France have succeeded and achieved tremendous economic growth while some like Greece and Bulgaria have struggled to achieve the promise. Then the United Kingdom (UK) […]
Tuesday sees the Federal Reserve’s Federal Open Market Committee (FOMC) commencing its two-day meeting on monetary policy, with a policy decision due on Wednesday at 1900 GMT. Markets widely expect rates to remain unchanged, though a delivery of a “hawkish hold” seems to increasingly be the view among analysts. Should this materialize, then the US […]
Global stocks were under pressure on Tuesday as investors remained cautious ahead of the Federal Reserve meeting. The Dollar struggled to hold ground against a basket of major currencies while Sterling was bruised by Brexit jitters. In the commodity arena, Gold benefitted from a vulnerable Dollar. The main event risk today will be BoE Mark […]
CADJPY remains under strong pressure after the pullback on the 89.60 resistance level on January 17. The pair plummeted towards the ascending trend line, which has been holding since September and dropped below the two-short-term simple moving averages, 20 and 40. Looking at the daily timeframe, technical indicators are holding below their neutral levels. The […]
Eurozone data for fourth quarter of 2017 remain solid as they are led by strong German data. Eurozone Preliminary Flash GDP posted a respectable gain of 0.6%, unchanged from the Q3 release. On the yearly basis, the GDP was as well in line with expectations at the level of 2.6% Nevertheless, the market participants are […]
USD slowly began to retrace last week’s sell-off from the three-year lows. Although the last phase of the sale of the American currency can be seen in terms of overshooting and a clear detachment from fundamentals or fair value based on the relative valuation of assets, the road from reversing the negative trend is very […]
Technical outlook: The EUR/USD pair is consolidating into potential wave 4 and will push higher one last time or it is preparing to drop into 1.2200 handle and produce the first leg lower, heading into much deeper correction. Interim resistance is seen at 1.2537 levels for now while support comes in around the 1.2200 handle. […]
GOLD PRICES in the global wholesale markets bounced $10 from an overnight drop to $1334 on Tuesday as Chinese demand held firm ahead of next month’s Lunar New Year and volatility in the currency markets switched to Sterling amid fresh wrangling over Brexit. With 3 weeks until Chinese New Year – now the heaviest […]
U.S. Crude Oil (WTI) traded below the $65 handle and Brent Crude (BRENT) below $69 as prices backed off their highest levels in years. The factors that pushed crude price higher may now be coming to an end. The weakening U.S. Dollar has buoyed commodity prices recently but the steep decline took a breather on […]
It’s 12 O`clock GMT on this Tuesday and time for the Midday Snapshot where we`ll assess the performance of the market players. Euro/Dollar shot up by more than 100 pips after the daily low was hit and a gain of point 47% has been posted. Turnover is high and neutral sentiment of the traders is […]
The pair remains under pressure below its major horizontal resistance at 109.00, and it is likely to post a new pullback. The 50-period moving average is heading downward, and it should continue to push the prices lower. In addition, the relative strength index lacks upward momentum. The U.S. dollar rebounded against other major currencies, as […]
This is the Dukascopy Economic Calendar for the final trading day of January. German retail sales for December open this agenda at 7 AM. Sales bounced back sharply in November, after declining by 1% in October. German unemployment change for January follows at 8:55. Unemployment has been declining steadily over the recent years. Next up […]
Today at 10.00am GMT, EU Gross Domestic Product was published in line with the expectations. Eurozone GDP (QoQ) for Q4 came in as expected at 0.6%, from a previous 0.7%. The YoY figure for Q4 also came in as expected at 2.7%, from a previous 2.8%. GDP is the value of all produced goods and […]
Here are the latest developments in global markets: FOREX: The euro erased earlier losses against the dollar, bouncing up to an intra-day high of $1.2423 (+0.22%) after Eurostat revised upwards GDP growth readings for the third quarter. Sterling managed to rebound to $1.4111 (+0.38%) after reaching a one-week low at 1.3979 during the Asian session. […]
Overview: The USD/CHF pair continues to move downwards from the level of 0.9377, which represents the first resistance on the H1 chart. Yesterday, the pair dropped from the level of 0.9377 to the bottom around 0.9393. Today, the first resistance level is seen at 0.9377 followed by 0.9432, while daily support is seen at the […]
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. […]
Overview: The pivot of NZD/USD pair is seen at the point of 0.7391. The bias remains bullish in the nearest term testing 0.7557 or higher. On the daily chart, the NZD/USD pair continued moving upwards from the level of 0.7260 (golden ratio). The pair rose from the level of 0.7260 (weekly support) to the top […]
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 […]
