When the European market opens, some economic news will be released such as the German 10-y Bond Auction, Trade Balance, and French Final CPI m/m. The US will release economic data too such as the TIC Long-Term Purchases, Federal Funds Rate, FOMC Statement, FOMC Economic Projections, Crude Oil Inventories, Industrial Production m/m, Capacity Utilization Rate, […]
USD/CHF is expected to trade with a bullish bias. The pair is trading sideways within its intraday range pattern and is likely to challenge the next resistance at 0.9690. Even though a consolidation cannot be ruled out at the current stage, its extent should be limited by the support base at 0.9605. To sum up, […]
NZD/USD is expected to trade in a lower range as it is capped by a negative trend line. The pair has been capped by a descending trend line since June 13 and remains on the downside. At the same time, both the 20-period and 50-period moving averages are heading downward. Last but not least, the […]
Global macro overview for 15/06/2016: The main event of the week, the FOMC interest rate decision, economic projections, and the press conference are scheduled for 06:00 pm GMT today. Global investors do not expect any change in interest rates, and this attitude is being supported by the CME FedWatch tool – the current implied probability […]
Forex traders have been using technical analysis for decades to have them get an upper leg on the markets. There are numerous forms of technical and fundamental analysis and the more practice and effort a forex trader puts into honing their skills, the greater the likelihood they will master understanding how to predict price action. […]
Today’s attention shifts from Brexit to the FOMC. Although there is practically no chance for a rate hike today, market participants will focus on the press conference in order to gauge FED Chairwoman Yellen’s hints as to the timing of future rate hikes. Overnight, risk appetite improved and most Stock indices recovered slightly. Currencies: Yesterday was […]
In Asia, today Japan will not release any economic data but the US will release some economic data such as the TIC Long-Term Purchases, Federal Funds Rate, FOMC Statement, FOMC Economic Projections, Crude Oil Inventories, Industrial Production m/m, Capacity Utilization Rate, Empire State Manufacturing Index, Core PPI m/m, and PPI m/m. So there is a […]
We’re seeing a strong fibonacci projection support at 77.50 along with it being a graphical swing low + it corresponds with the RSI’s 30% support and a bullish divergence vs the RSI. All these add to a strong conviction we have on seeing AUD/JPY bounce above this level to at least 78.90. Trading recommendations: Entry […]
The price reacted off our long-term channel resistance on NZD/USD perfectly and has reached our first take profit target since yesterday. Today we play a continued move down to the 0.6890 level as our next profit target, which is a major fibonacci retracement level + graphical support. The RSI (21) remains below our resistance, although […]
The Index remains strong, and during yesterday’s session it did a rebound above the 200 SMA on the H1 chart, pushing it higher. Today the Fed interest rate decision will be announced, and if a hike happens, USDX can look to break the resistance above the 95.19 level, which should be the next critical level […]
GBP/USD continues to show weakness in the short-term picture, as it has been doing declines toward the 1.4100 psychological level, where it found support. A breakout below that zone will expose the 1.4041 level, which should activate the “oversold” alert on the oscillators, such as the RSI and MACD, and eventually, the pair can rebound. […]
MSCI denied the entry of Chinese local markets into its global stock benchmarks for third straight year, rendering a blow to the Asian country and its investors. The index provider’s Global Head of Research Remy Briand saying international institutional investors wanted to see more improvements in accessing Chinese equities before integrating it into their indices. […]
Toronto Stock Exchange’s S&P/TSX composite index on Tuesday suffered a decline for a fifth straight day as financial and resource stocks drew back ahead of Britain’s June 23 referendum on whether to exit the European Union. The main stock index of Canada unofficially ended lower 109.65 points, or 0.78 percent, at 13,884.23. Seven of the […]
Technology website Re/code said Twitter made an investment in SoundCloud worth about $70 million. The online social networking service company confirmed the report, but did not give further details. Twitter’s investment would value SoundCloud at about $700 million, the Re/code report said, citing sources with knowledge about the matter. SoundCloud could not be reached for […]
Abu Dhabi’s International Petroleum Investment Co. unveiled its plan to push ahead with arbitration in a London court to recover approximately $6.5 billion debt it incurred because of a disaccord with 1Malaysia Development Bhd. In April, the conflict surfaced when Abu Dhabi’s sovereign wealth fund accused Malaysia’s state investment fund of backed down on major […]
A government spokesperson said Japan will keep fixing its eyes financial markets’ take on the likelihood of Britain severing its ties with the European Union. Deputy Chief Cabinet Secretary Hiroshige Seko made the remarks when asked whether the nation was ready to collaborate with Britain and the EU to ensure soundness in markets. The Japanese […]
Japan’s local media reports Mitsubishi Motors Corp. has used inaccurate fuel economy data for supplemental models that are outmoded and intends to divulge the issue soon to Japan’s transport ministry. The automaker confessed in April of exaggerating the fuel economy on four of its mini-vehicles. Two models involved were made for Nissan Motor Co. and […]
Twitter Inc. has invested $70 million in SoundCloud according to the report of tech website Re/code. Twitter has acknowledged the report, but did not disclose the details. Twitter CEO Jack Dorsey stated that the investment in SoundCloud made via Twitter Ventures is an effort to assist the company’s efforts with creators. The investment made to […]
Overview Gold price hasn’t shown any strong move since morning, still fluctuating near 1,280.00 level. Importantly, stochastic has clearly got rid of its negativity and reached the oversold thresholds, providing positive motive that we wait to support the chances for bouncing higher in the upcoming period. Therefore, the bullish trend scenario will remain valid and […]
Overview Silver price provides slight positive signs and attempts to build a support base above 17.40 which explains the reasons of the current sideways fluctuation. It may force the price to show more of the temporary sideways trading before resuming the main bullish wave the next target of which is located at 18.00. In general, […]
The United Kingdom’s Consumer Price Index in May was unchanged at 0.3 percent from the same period last year, missing a 0.4 percent forecast. Transport prices increased but was dragged down by clothes and food prices. Transport costs grew by 0.9 percent in May from the previous month. Price of motor fuel climbed by 2.7 […]
Atlanta Fed’s GDPNow model showed that its GDP forecast for the second quarter was raised to 2.8 percent from its initial 2.5 percent prediction in early June. Forecast for the consumption expenditure in Q2 was also increased to 3.9 percent from 3.5 percent. The Statistics Bureau revealed on Tuesday that retail sales grew by 0.5 […]
EU’s antitrust regulator is set to give the thumbs up to Marriott International’s $13.6 billion deal to purchase Starwood Hotels and Resorts Worldwide. The merger will create the world’s largest hotel company with more than 5,000 hotels which will include Marriott’s Ritz-Carlton and Starwood’s Sheraton and Westin. An insider told Reuters that EU’s commission for […]
US trade data were bullish for the month of May as it eclipsed analysts’ predictions, the Commerce department announced on Tuesday. Retail sales rose by 0.5 percent from the previous month, surpassing an expected 0.3 percent rise. Core retail sales stood at 0.4 percent in line with analysts’ forecast. Export and import price indices were […]
Moody’s will reevaluate Microsoft’s AAA credit rating after the technology company’s announcement to acquire LinkedIn for $26.2 billion in cash. Microsoft will fund the purchase by issuing new debt. Moody’s analyst Richard Lane said that the deal will double Microsoft’s debt to EBITDA. The rating review will look at the monetary results of the merge […]
This week the sterling dives by UK referendum worries. What Happened? Today the GBP/USD declined further to 1.4120, after Friday’s 1.4% drop. Overall, Sterling has lost over 400 pips in the last 4 trading sessions with people now mentioning a possible retreat below 1.40 ahead of the referendum. The FTSE 100 index fell by 0.7% […]
Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6074 in an average volume. I found re-validation of the upward channel (potential bearish flag). The trend is still downward and my advice is to watch for potential breakout of bearish flag to confirm further downward continuation. The breakout of 1.5965 may confirm […]
Since our previous analysis, gold has been moving sideways at the price of $1,282.00. The trend is upward. According to the 1H time frame, I found a successful breakout of supply trendline, which is sign that we may see bullish continuation.Oscilator is also in overbought zone, which is another sign that we may see bullish […]
Overview: Today, the NZD/USD pair is set below the strong resistance at the levels of 0.7045 and 0.7090; because the price is in a bearish channel now. The RSI starts signaling a downward trend. Consequently, the market is likely to show signs of a bearish trend. In the H4 time frame, the first resistance level […]
Bullish persistence above 0.6550 (the depicted support) was necessary to keep the price moving towards higher bullish targets. In February and March, signs of bearish rejection (triple-top reversal pattern) were expressed around the price level of 0.6750 until April when a bullish breakout above 0.6750 and 0.6860 was executed. Later on May 6, daily candlestick […]
