EUR/USD: The Bullish Confirmation Pattern on the EUR/USD is still valid and the price would go further upwards after it leaves the current consolidation phase. The Williams’ % Range has retraced southwards a little that means there is a hidden weakness in the market – a good point from which the price can rise further. […]
The global deterioration of equity markets paused overnight in Asian markets, a day after stocks in the region fell to six-month lows. Slowing growth in China together with Fed’s tapering of QE prompted fresh fears about the outlook for emerging markets. Last week’s slide in the Argentinian peso after the central bank there halted policies […]
European markets have opened higher today, as investors mulled over corporate earnings from several European companies. However, investors mostly avoided taking big bets before the Federal Reserve monetary policy meeting that is scheduled to commence today. Closer home, investors eyed preliminary data that might show that the nation’s economic growth expanded 2.8% YoY in the […]
The biggest event yet to come on Wednesday through the Fed decision expecting for $10 billion tapering. The yellow metal has already factored it, rallied towards 2-month’s high. Chinese physical demand ahead of lunar New year celebrations and weakness in the US dollar makes gold more attractive. Gold made a 5-week upmove in the weekly […]
When the European market opens, some economic news will be released such as German Import Prices m/m. The US will release the most important economic data such as the US-Core Durable Goods Orders m/m, US-CB Consumer Confidence, US-Richmond Manufacturing Index, so amid the reports, EUR/USD will move with low to medium volatility during this day. […]
In Asia, Japan will release the CSPI y/y and the US will release some economic data such as US-Core Durable Goods Orders m/m, US-CB Consumer Confidence, US-Richmond Manufacturing Index. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session. TODAY’s […]
Technical outlook and chart setups: 1. At the moment, Silver remains unchanged, trading within $19.50 and $20.20/30. It is recommended to remain flat and look to initiate longs towards the sub $19.00 region. 2. Immediate resistance is at $22.00, while supports are spread through $19.30/40, followed by $19.00 and $18.75 respectively. 3. Structure reveals that […]
Technical outlook and chart setups: 1. EUR/JPY looks to have initiated its counter trend rally ahead of the major fundamental event tomorrow. It is recommended to sell on rallies into 143.00/50 region from here on. 2. Immediate resistance is 143.00, followed by 145.50, and supports are spread through 138.50, followed by 134.00, 131.00 and lower. […]
Technical outlook and chart setups: 1. The metal has retraced from its recent highs at $1,276.00/79.00. It is still expected to fall further in a corrective manner though, hence recommendations are to remain short for now. Risk remains a $1,283.00/84.00. 2. Immediate resistance is at the $1,290.00/95.00, while supports are spread through $1,230.00, followed by […]
Technical outlook and chart setups: 1. The GBP/CHF pair has staged a counter trend rally, as discussed and expected, into the sub 1.4900 region. As seen here, the fibonacci 0.618 resistance is at 1.4960, which could be the next point of reversal. It is recommended to remain short and add further on rallies. Risk remains […]
A slide in emerging forex markets was led by the Argentina’s peso and Turkish lira. Global macroeconomic data was mixed, with the euro zone PMI reading for January showing a recovery, while China’s GDP fell to a 14-year low of 7.7%. The biggest 1-day fall of Argentina’s peso on last Thursday was more than a […]
In the US dollar front, it made a double high at the level of 80.56 and it is trading below 21DEMA that is the major bearish factor. Until it crosses it, we remain in bearish mode. After hitting a 2-months high of 81.39, the dollar index sharply declined to 80.15 In the technical front, oscillators […]
Overview: The price of the USD/CHF pair is supposedly going to form strong support at the level of 0.8903 (00% of Fibonacci retracement levels in the H4 chart, it had formed the last bearish wave last week. It should be noted that the price is going to form a double bottom at this level, but […]
Trading recommendations: Pair: GBP/USD Date: 28/1/2014 According to the previous events, the price of the GBP/USD pair has still been moving between 1.6640 and 1.6515. Long buying: Buy above 1.65 in the short term with the first target of 1.6566, it might resume to 1.6634 (the weekly resistance 1). Short selling: Outlook 1: Swing trade […]
Daily chart: The USDX is forming a higher low pattern below the level of 80.62, so it is a clear confirmation that the USDX is trying to continue falling below the 200 SMA. However, the USDX had already formed a fractal near the support level of 80.11, so the USDX would probably try to climb […]
Daily chart: After the sharp drop this pair had last week, during yesterday’s session the pair managed to recover. However, this pair is trying to consolidate above the support level of 1.6540, but it still has high chances of falling in the medium term. If this pair manages to break the resistance level of 1.6663, […]
January 27, 2014 – Weekly News WEEKLY REPORT 27/01-31/01 EUR/USD Last week the EUR/USD pair had been moving sideways for first 3 days but on Thursday with strong European data and weak American data the pair jumped from 1.3540 level to almost 1.3700 level. The pair tried to climb more on Friday but lost momentum […]
80% taxpayer owned bank, Royal bank of Scotland (RBS.L) released news near the end of trading today detailing its plans to set aside another £3.1Bln to pay for fines, damages and customer compensation relating to the credit crisis and market rigging allegations. Boss Ross McEwan said “The scale of the bad decisions during that period […]
CRUDE OIL: With its bullish offensive cut short following a two-day weakness, further decline cannot be ruled out. On further decline, the 94.51 level, its .50 Fib Ret (its 91.27-97.24 move) will be targeted where a violation will aim at the 93.74 level, representing its .618 Fib Ret. Additionally, support comes in at its psycho […]
Good afternoon and good trading week eToro’s Community! We have some interesting developments to start the week with; let’s take a look at them: Two of the major stocks that we have in eToro are making noise in the newspapers. After months of speculation about a potential multi-billion dollar deal, AT&T have announced they are not planning to buy out Vodafone any time soon. The news […]
This is the final instalment of my 3-part series of a seminar I attended about a year ago in Durban, South Africa. Part 1 gave the background to this seminar and told about The Man And The Helicopter. You can read it here if you have not seen it yet: Part 2 was about Stampeding […]
The EUR/USD pair faces heavy action this week, as economic data from the United States and European Commission make headlines. The pair opened the week trading to the downside despite positive IFO data from Germany, the Eurozone’s largest economy. The IFO Business Climate Index rose 1.1 points to 110.6 in January. The pair was dragged […]
The USD/CAD will look to test new highs this week, as traders bid up the greenback in anticipation of further stimulus cuts from the Federal Reserve. The pair soared last week to 1.1156, a four-year high. The bearish Canadian dollar will be at the mercy of the greenback this week, as Ottawa has very little […]
The GBP/USD is expected to face considerable volatility this week, as key economic data and monetary policy take the floor. The Federal Reserve will dominate headlines for most of the week, as policymakers prepare to coalesce in Washington to discuss interest rates and quantitative easing. Prior to the meetings, however, the Office for National Statistics […]
On a daily basis IronFX Head of Global FX strategy Marshall Gittler comments on the world economies and speaks about the forex calendar of economic announcements. Join us for more technical and fundamental analysis: http://www.ironfx.com To get the latest Forex trading news you should: • Like us on Facebook: https://www.facebook.com/IronFX • Follow us on Twitter: […]
GBP/USD had been moving within a wide-ranged price zone extending between 1.5900 and 1.6250 until November 27 when a bullish breakout took place. Since this breakout, the bulls have been defending 1.6250 as a prominent support. Another successful retesting took place in mid-December that pushed the pair again to the upside. Based on the above-mentioned […]
For sure it’s happened to you before. You look at something from far away thinking that it’s one thing, then as you get closer it turns out it was really something else entirely. Or, that it was what you thought but maybe different then you first perceived. Well, it works both ways really. Sometimes the […]
For sure it’s happened to you before. You look at something from far away thinking that it’s one thing, then as you get closer it turns out it was really something else entirely. Or, that it was what you thought but maybe different then you first perceived. Well, it works both ways really. Sometimes the […]
USD/CAD Elliott Wave Last week, the USD/CAD pair has been trading upwards, corrective wave (c) (coloured red) of the bigger wave [y] (coloured green) has been developing. In the 1-hour chart of this commodity pair, we can see that price has found the resistance at 1.1172 and after that we can see the corrective move […]
AUD/USD Elliott Wave For the last couple of days, the AUD/USD pair has been trading downward, impulsive wave (v) (coloured red) of the bigger wave 1 (coloured blue) has been developing. In the 4-hour chart of this major pair, we can see that the move from the 0.9087 level (end of the (iv) wave) has […]
