Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market. However, the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470), which allowed further bearish decline to occur. The prominent demand level located at 1.3845 (historical bottom that goes back to March […]
Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market. However, the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470), which allowed further bearish decline to occur. The prominent demand level located at 1.3845 (historical bottom that goes back to March […]
Technical outlook and chart setups: Gold was pushed towards fresh highs today at $1,313.00 levels before pulling back. The metal is seen to be trading at $1,304.00/05.00 levels at this moment, looking to push lower. The wave structure reveals that the metal had completed 5-wave rally between $1,046.00 and $1,303.00 levels earlier. The drop from […]
Technical outlook and chart setups: Gold was pushed towards fresh highs today at $1,313.00 levels before pulling back. The metal is seen to be trading at $1,304.00/05.00 levels at this moment, looking to push lower. The wave structure reveals that the metal had completed 5-wave rally between $1,046.00 and $1,303.00 levels earlier. The drop from […]
In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 where historical bottoms were previously set in July 2012 and June 2010. Hence, a long-term bearish target was projected towards 0.9450. In March 2015, the EUR/USD bears challenged the next monthly demand level around 1.0570, which had been previously reached in […]
In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 where historical bottoms were previously set in July 2012 and June 2010. Hence, a long-term bearish target was projected towards 0.9450. In March 2015, the EUR/USD bears challenged the next monthly demand level around 1.0570, which had been previously reached in […]
Recently, EUR/NZD has been moving downwards. As I had expected, the price tested the level of 1.5882 in an high volume. According to the 1H time frame, I found a broken bearish flag, which is a sign that downward pressure may continue. I have placed the Fibonacci expansion to find potential downward targets. I got […]
Recently, EUR/NZD has been moving downwards. As I had expected, the price tested the level of 1.5882 in an high volume. According to the 1H time frame, I found a broken bearish flag, which is a sign that downward pressure may continue. I have placed the Fibonacci expansion to find potential downward targets. I got […]
AUD/USD rejected both the 50% and then the 38.2% Fibonacci resistance levels signaling on a downtrend continuation. Pair managed to stay below the 50 Moving Average, which could be an additional confirmation of an upcoming wave down. Consider selling AUD/USD at the current rate (0.7360) targeting the nearest support at 0.7200 that was previously formed. […]
AUD/USD rejected both the 50% and then the 38.2% Fibonacci resistance levels signaling on a downtrend continuation. Pair managed to stay below the 50 Moving Average, which could be an additional confirmation of an upcoming wave down. Consider selling AUD/USD at the current rate (0.7360) targeting the nearest support at 0.7200 that was previously formed. […]
Today, EUR/USD stayed below the 50 Moving Average and rejected the R1 (1.1270) resistance based on the Fibs applied to the channel breakout point. While the S1 (previous resistance) was broken, EUR/USD rejected both R3 (1.1400) and R1 (1.1270) levels. Consider selling EUR/USD either at the current rate (1.1200) or on small pullbacks towards R1. […]
Today, EUR/USD stayed below the 50 Moving Average and rejected the R1 (1.1270) resistance based on the Fibs applied to the channel breakout point. While the S1 (previous resistance) was broken, EUR/USD rejected both R3 (1.1400) and R1 (1.1270) levels. Consider selling EUR/USD either at the current rate (1.1200) or on small pullbacks towards R1. […]
Oil prices dropped for the 6th consecutive time since June 8 resulting in a loss of almost 8% of their value after an underwhelming draw on U.S. stockpiles and amid concerns of United Kingdom’s departure from the European Union. Front-month U.S. crude futures fell 1.1% by 53 cents and was priced at $47.48 per barrel. […]
South Korea is considering a supplementary budget on top of other financial strategies to reinforce the country’s economy and global headwind risks increase, according to the country’s vice finance minister. The slowdown in exports and delayed growth of investments and the weak job market is causing concerns for the government. The country will focus on […]
Do changes in the Effective Federal Funds Rate (EFFR), the actual cost of short-term liquidity derived from a combination of market demand and Federal Reserve open market operations designed to maintain the Federal Funds Rate (FFR) target, predictably influence the U.S. stock market over the intermediate term? To investigate, we relate smoothed (volume-weighted median) monthly levels of EFFR to monthly […]
USD/JPY broke through important support. A weekly close below 105.50 will be a very bad signal for bulls. The trend remains bearish as long as price is below 107 targeting 101-102 at least. Green area – resistance USDJ/JPY is in a bearish trend. Earlier today, it broke below a double bottom at 105.50 and below […]
AUD/USD is in a bearish trend targeting 0.68. Any bounce should be seen as sell opportunity, especially if the price breaks below 0.7140. Green area- support zone In the 4-hour chart the price is making a bearish reversal and when it breaks below 0.7325 we should see rising selling pressure and push the pair back […]
Overview: The NZD/USD pair set above strong support at the level of 0.6995, which coincides with the 61.8% Fibonacci retracement level. This support has been rejected twice confirming uptrend veracity. Hence, major support is seen at the level of 0.6995 because the trend is still showing strength above it. Accordingly, the pair is still in […]
Overview: The USD/CHF pair continues moving in a bullish trend from the support levels of 0.9562. Currently, the price is in a bullish channel on the H4 chart. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. The price is still above 0.9564. The USD/CHF pair is […]
A source said Airbnb Inc. received a debt facility worth $1 billion from big U.S. banks to support new services and finance its plans of expansion. The debt deal is led by Citigroup Inc., Morgan Stanley, JPMorgan, and Bank of America Corp, according to the source. All four banks were not available for comment. Rental […]
The quarterly policy meeting of Switzerland’s central bank that happened on Thursday revealed that the negative interest rates of the bank remained unchanged. The Swiss National Bank has kept its target range for three-month Libor between -1.25 and -0.25 percent, as predicted by Reuters-polled economists. The bank also commented regarding the possible risks of Brexit […]
The US dollar index pulled back towards the short-term support levels of 94.20 and the 50% retracement. This is still considered a pullback inside a bigger upside move. This scenario will be canceled, if the price breaks below 93.35. Red line – resistance Green line – support Although the index initially broke above the 4-hour […]
Global macro overview for 16/06/2016: The main event of the day is the BOE’s interest rate decision and asset purchase facility decision that are scheduled for release at 11:00am GMT today. The current interest rate is at the level of 0,50%. Market participants does not expect any changes. Moreover, the asset purchase should remain at […]
Global macro overview for 16/06/2016: The Federal Reserve Bank (Fed) decided to keep the interest rate unchanged at the level of 0.50% and the FOMC statement brought no surprises on Wednesday. The economic projections were lower than in January and the dot-plot showed that only one Fed member is forecasting 1 rate hike in 2016 […]
Gold price exploded to new highs above $1,300 following the FOMC. The trend remains bullish as support levels were held yesterday. Despite the warning signals that oscillators were giving, the pullback we expected did not happen. Instead, prices moved strongly upwards. Blue lines – bullish channel Red lines – higher lows Gold price continues moving […]
Yen Surges as BoJ Holds Morning Report: 06.30 London • This morning, the Japanese yen is surging after opting to keep its policy rates and more importantly stimulus plans on hold. The move has been a shot in the arm for an already over-strong yen. The move has hit the yen pairs hard, with most […]
Paul Tudor Jones is an American hedge fund manager and a founder of Tudor Investment Corporation who was born in September 1954 and is currently estimated to have a net worth of $4.6 billion. Jones possesses a trading style that focuses on contrarian buying and selling turning points. As a swing trader, Jones tends to […]
Volatility has hit the highest level in years as 4 Central Banks are set to deliver their key messages in 4 hours. Yesterday’s Fed rate decision to keep rates the same was not a surprise, neither were the pessimistic comments from FED chairwoman. However the BoJ did disappoint the market, and in combination with the […]
General overview for 16/06/2016: The market has hit the technical resistance at the level of 1.2911 just as anticipated and is now trading just above the weekly pivot resistance at the level of 1.2940. The Elliott wave count indicates a possible five-wave impulsive structure to the upside that might reach the 61% Fibo at the […]
Wave summary: A break below the long-term support line confirmed a thrust out of the B-wave triangle calling for a decline closer to 1.4471 as the ideal medium target. In the short term, we are looking for a decline to 1.5604 to end wave i of C and after a correction to 1.6100 in wave […]
