USD/CHF is expected to trade with a bearish bias. The pair stays below its key resistance at 0.9925 and looks for choppy price action with a bearish bias. Meanwhile the relative strength index is still below its neutrality area at 50, and is mixed to bearish. Last but not least, the 20-period and 50-period moving […]
NZD/USD is expected to trade with a bearish bias as Key resistance at 0.6770. The pair failed to break above its horizontal resistance at 0.6770, and remains weak below the threshold. Even though a continuation of the technical rebound cannot be ruled out at the current stage, its extent should be limited. As long as […]
GBP/JPY is expected to trade with bearish bias with no long-term direction. The pair is moving around its 20-period and 50-period moving averages within a trading range between 161.90 and 160. The bias remains bearish and further decline is expected with the next target set at 160 at first. If the pair turns down and […]
General overview for 27/05/2016: The three wave corrective cycle in wave 2 might be completed, but this corrective wave might still evolve into more complex cycle. To confirm the wave 2 top is in pace, bears must push the price lower towards the intraday support at the level of 122.25 and break out below it. […]
When the European market opens, no economic news will be released for today. However, the US will publish such economic data as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Prelim GDP Price Index q/q, Prelim GDP q/q. So amid the reports, EUR/USD will move low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: […]
In Asia, Japan will release the BOJ’s Core CPI y/y, National Core CPI y/y, Tokyo Core CPI y/y while the US will publish some economic data, including Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Prelim GDP Price Index q/q, and Prelim GDP q/q. So there is a probability that the USD/JPY will move with […]
The USDX traded in a bearish tone during Thursday’s session, but currently we should note that the Index is hovering around the 200 SMA area on the H1 chart. If the USDX does a rebound at the current levels, then it could resume the bullish bias to reach new highs above the 96.00 level after […]
Pair had a corrective session and it’s now looking to find support around the 1.4662 level. However, overall bullish bias remains untouched, as the Cable has been trading higher after it performed rebounds above the 200 SMA, which is our path of the current trend. A breakout above the 1.4723 level could push the GBP/USD […]
Social media hasn’t just changed the way we interact with our friends and loved ones, it has revolutionized the way in which we consume information. The rise of Facebook, Twitter and several other social media websites have allowed us to stay on top of new developments in our world, and meet some pretty cool people […]
Another 7 million cars equipped with Takata Corp’s air bag inflators will be recalled by automakers by March 2019, Japanese transport ministry on Friday said, bringing the total recalled cars in the country to 19.6 million. The transport ministry said Takata Corp and automakers had found the absence of desiccants could make ammonium nitrate used […]
Market Eyes US GDP Morning Report: 06.30 London • Markets are relatively quiet this morning as traders assess the consequence of oil prices breaking (and falling back from) $50 yesterday. Adding to the caution, we have US GDP data to contend with later. The US dollar is quiet so far, with the USD/JPY also making […]
The central bank of Argentina said it would raise the reserve requirements of the bank in an attempt to slash high inflation in the country. The central bank said in-demand deposits’ reserve requirements would increase by 2.5 percentage points in June and again in July from its current level of 17 percent. Reserve requirements for […]
Government data revealed on Friday that Japan’s April core consumer prices plunged 0.3 percent from a year ago. The core consumer price index was more than the median estimate of economists for a 0.4 percent annual gain. The so-called core-core inflation index, which excludes food and energy prices and is similar to the core index […]
Seeking to amplify national security and revitalize crude and coal sectors, presumptive Republican party’s presidential nominee Donald Trump pledged to abandon certain arduous environmental regulations in America. Some his proposals include repealing President Barack Obama’s rules on curbing emissions, approving the Keystone XL oil pipeline project, and withdrawing from the UN global climate pact. Speaking […]
Japanese Prime Minister Shinzo Abe will postpone a national sales tax hike initially planned in April next year. Government sources disclosed the postponement was caused by woes the tax increase might push the country back into deflation. They added the premier will defer the tax raise by one to three years. Abe will hold a […]
Group of Seven leaders pressed the United Kingdom to remain in the European Union, saying a Brexit would impose a serious danger to global growth. Releasing their declaration following a gathering in Japan, the group reiterated leaving the EU would inverse the path to better investment, jobs, and global trade. G7 leaders vowed to fortify […]
Financial commentators generally agree that this summer’s EU referendum has stemmed the flow of companies floating on the UK stock market. With uncertainty about how the vote will move prices, companies seem reluctant to press ahead with IPOs (initial public offerings). The good news is that the window for flotations is expected to reopen later […]
On January 28, the depicted support at 0.6400 acted as a prominent key level offering a valid buy entry. The 0.6550 level was broken a few weeks ago. Bullish persistence above 0.6550 (depicted recent support) was necessary to keep the price moving towards higher bullish targets. During February’s consolidations, the price zone of 0.6760-0.6840 constituted […]
Yesterday’s session was characterized by a few strong moves. Firstly GBP’s rise to above 1.47 levels came as a statement that Brexit isn’t very likely to happen. Secondly OIL’s rise to $50 signals a bottom in energy markets and peoples start talking about $100 a barrel again. Upcoming events include US Jobless claims and Pending […]
On December 7, a bullish breakout above 1.3450 (upper limit of the recent consolidation range) enhanced the bullish side of the market. Hence a bullish visit to the resistance at 1.4120 (Fibonacci Expansion 100%) occurred. Bullish persistence above 1.4150 enhanced the bullish side of the market towards 1.4650 (141.4% Fibonacci expansion) where an evident bearish […]
Overview The gold price shows sideways trading affected by stochastic positivity displayed on the four-hour time frame; it might push the price to some temporary positive attempts before resuming the bearish bias that targets testing of the 38.2% Fibonacci level at $1,205.80. The EMA50 keeps pushing negatively on the intraday trading, so we still predict […]
Recently, EUR/NZD has been moving upwards. The pair tested the level of 1.6684 in a high volume. According to the 30M time frame, I found an upward trend and successful testing of supply at the price of 1.6575. Besides, I found successful rejection from SMA 50. Watch for buying opportunities. The level of 1.6600 looks […]
Prices for both crude benchmarks were seen above the $50 mark, with futures for the North American West Texas Intermediate (WTI) climbing 1% higher to $50.04, while the European […] The post Oil Rise Above $50 Level as Crude Stockpiles Drops appeared first on | HY Markets Official blog. Commodities Related Posts:Outlook for EUR/USD […]
Since our previous analysis, gold has been trading upward. The price tested the level of $1,234.02 in an ultra high volume. According to the 30M time frame, I found a volume spike (buying climax) and a bullish bar with a wide range which closed in the middle. I also found no demand bars and up-thrust […]
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 […]
Overview Silver opens today’s session with clear positivity to surpass the previously broken support line of the bullish channel and 16.37 level, but it kept the stability of the daily close below these levels. Stochastic loses its positive momentum clearly to reach the overbought areas, offering a negative factor that we are waiting as it […]
In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 and 1.2000 where historical bottoms had been previously set in July 2012 and June 2010. Hence, a long-term bearish target is projected towards 0.9450. In March 2015, the EUR/USD bears challenged the monthly demand level of 1.0570 which had been previously […]
Global macro overview for 26/05/2016: The Crude Oil Inventories data from yesterday revealed a drop, posting the biggest weekly decline in seven weeks. Market participants expected stockpiles to decline to the level of -2500k barrels from 1311k barrels a week ago, but the decline was way bigger than expected, down to the level of -4226k […]
Global macro overview for 26/05/2016: The Bank of Canada has decided to keep the overnight rate unchanged at the level of 0.5%. Moreover, the bank rate remained at 0.75% and the deposit rate at 0.25%. In the BoC statement, the greatest emphasis has been put on the recent wildfire consequences, bringing a lot of disruption […]
General overview for 26/05/2016: The five impulsive waves labeled as wave (i) green had completed a little earlier than anticipated with the top at the level of 1.3186. Currently, the market is unfolding the corrective cycle in wave (ii) green. The invalidation line for the impulsive cycle is at the level of 1.2838, so the […]
