A bullish breakout above the previous consolidation zone between 1.2400 and 1.2800 was performed on July 15 (shown on the weekly chart). A significant bearish rejection was observed around 1.3450. Hence another consolidation range was established from 1.3450 down to 1.2800. On December 7, a bullish breakout above 1.3450 (the upper limit of the recent […]
A report by the Wall Street Journal revealed that Valeant Pharmaceuticals International Inc. will name four new directors as soon as Friday. The journal, which cited sources, said five of its well-established directors agreed to step down to make room for new nominees. A source also told the journal that the drug maker’s chairman, Robert […]
In the last 24 hours, three major central banks surprised traders by staying firm and not making any changes to their monetary policies. The Federal Reserve held rates and did little to change its statement in terms of providing hints of a future interest rate hike while the Bank of Japan and the Reserve Bank […]
Banco Bilbao Vizcaya Argentaria SA said first-quarter profit fell by 54% on lower trading revenue, and as a one-off sale was not repeated. Net income of BBVA, the second-largest bank in Spain, fell to 709 million euros ($803.9 million) from 1.54 billion euros last year when it booked a gain from the sale of a […]
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 above a few weeks ago. Bullish persistence above 0.6550 (depicted recent support) was necessary to keep the price moving towards higher bullish targets. The price zone of 0.6750-0.6840 constituted a significant […]
Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market. However, as the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470), the next demand level located at 1.3845 (historical bottom that goes back to March 2009) provided a significant bullish rejection […]
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 […]
Wave summary: We finally saw a break above the important short-term resistance at 1.6499 to indicate that an important low was seen at 1.6062 and a new impulsive rally is developing. In the short term, we continue to look for support near 1.6285 that we expect will protect the downside for a new rally to […]
Wave summary: EUR/JPY only reached 126.47 before collapsing as the Bank of Japan announced no change after its meeting today. That disappointed the market and sent the cross pair strongly lower. Despite the collapse, this decline is “only” regarded as red wave ii and should find support in the 121.71 – 122.57 area for the […]
When the European market opens, some economic news will be released such as the Italian 10-y Bond Auction, German Unemployment Change, Spanish Unemployment Rate, Spanish Flash CPI y/y, German Prelim CPI m/m. The US will release economic data too such as the Natural Gas Storage, Advance GDP Price Index q/q, Unemployment Claims, Advance GDP q/q. […]
In Asia, Japan will release the BOJ Press Conference, Housing Starts y/y, BOJ Core CPI y/y, BOJ Outlook Report, Monetary Policy Statement, Prelim Industrial Production m/m, Retail Sales y/y, Unemployment Rate, National Core CPI y/y, Tokyo Core CPI y/y, and Household Spending y/y. The US will release some economic data such as the Natural Gas […]
EUR/USD: The perpetual rally on the EUR/USD has become a threat to the recent bearish outlook on the market. The EMA 11 has almost crossed the EMA 56 to the upside; plus the Williams’ % Range period 20 is now in the overbought area. The price could go further upwards, reaching the resistance line at […]
On the H1 chart, there was a lot of volatility in the USDX during yesterday’s session, as the Index tried to break above the resistance zone of 94.70, but that was unsuccessful. Currently, a bottom can be found at the 94.26 level, where the buyers are trying to deal with the bears, as the Index […]
GBP/USD has been doing a decline from the highs reached during the April 26th session. Currently, we’re seeing that a strong support was found around the 1.4495 level, where the buyers are highly active on a short-term basis, because the overall structure on the Cable is still calling for more upside. However, we should bear […]
The Federal Reserve kept interest rates unchanged and remained equivocal about increasing rates at June meeting, attributing their decision to low US inflation rate and global economic concerns. Policymakers, in a statement following its two-day meeting, voted to stand pat on its initial decision to raise rates at a gradual pace. As of present, the […]
Citing the need to evaluate the extent of negative interest rates, the Bank of Japan decided against bolstering monetary stimulus. Policymakers voted to retain the 0.1% negative rate on parts of deposits kept at the BOJ, the ¥80 trillion ($715 billion) goal for beefing up monetary base, and expand the program for purchasing more perilous […]
Overview The gold price showed positive trading yesterday surpassing the EMA50 and settling above it. This supports the continuation of the expected bullish trend for the upcoming period, and the price is likely to resume the rise that targets 1,282.92 followed by 1,300.00 levels mainly. Therefore, our bullish trend expectations will remain valid and active […]
Overview The silver price has opened today with bullish bias approaching from the key resistance 17.35. As we mentioned in our recent reports, the price needs to breach this resistance to confirm the continuation of the bullish wave in the upcoming period. The EMA50 continues to provide the positive support to the price from below. […]
Overview The EUR/USD pair managed to confirm a breach of the 1.1295 level after ending yesterday’s trading above it. This puts the price back inside the bullish channel shown on the chart and opens the way to resume the bullish wave, which next targets are located at 1.1494 and then 1.1700. Therefore, the bullish bias […]
Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market. However, as the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470), the next demand level located at 1.3845 (historical bottom that goes back to March 2009) provided a significant bullish rejection […]
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 […]
As per my previous analysis, the NZD/CHF short position would have been triggered around the 0.6740 level. As you can see, price continues moving lower, and today it is attempting to break below the S1 (0.6670) support. Consider holding the short position if you have already opened one, or getting into a sell trade on […]
EUR/USD continues trading between S1 (1.1220) and R1 (1.1320) levels. Although yesterday, price spiked up above the R1 resistance that would trigger a long position according to our previous analysis. As trend remains bullish consider holding long position targeting either R2 (1.1480) or R3 (1.1640) as a final upside target. The stop loss should be […]
Since our previous analysis, gold has been moving upwards. The price tested the level of $1,247.55 in a high volume. The price had reached my take profit level at $1,231.00 before the strong bullish movement started. According to the 30M time frame, I found volume spike (ultra high volume) and a strong bullish bar (sign […]
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 above a few weeks ago. Bullish persistence above 0.6550 (depicted recent support) was necessary to keep the price moving towards higher bullish targets. The price zone of 0.6750-0.6840 constituted a significant […]
A bullish breakout above the previous consolidation zone between 1.2400 and 1.2800 was performed on July 15 (shown on the weekly chart). A significant bearish rejection was observed around 1.3450. Hence another consolidation range was established from 1.3450 down to 1.2800. On December 7, a bullish breakout above 1.3450 (upper limit of the recent consolidation […]
Recently, EUR/NZD has been moving upwards. As I expected, the price tested the level of 1.6520 in a high volume. Our take profit level at the price of 1.6470 has been reached. According to the 30M time frame, I found strong upward momentum and the upward movement started because of the shakeout and successful test […]
Overview: The market opened below the daily pivot point. It continued to move downwards from the level of 0.6870 to the bottom around 0.6833. Today, the first resistance level is seen at 0.6870 followed by 0.6951, while daily support 1 is seen at 0.6800. The NZD/USD pair broke support, which turned into strong resistance at […]
Overview: The USD/CHF pair fell sharply from the level of 0.9760 towards 0.9700. Today, the resistance is seen at the level of 0.9760 and 0.9795. Moreover, the price area of 0.9760 – 0.9795 remains a significant resistance zone. Therefore, there is a possibility that the USD/CHF pair will move downside and the structure of a […]
Weak iPhone sales weighed down Apple’s revenues for the first quarter, recording only $50.6 billion, a 13 percent decline from last year’s $58 billion. This is the company’s first revenue drop in 13 years. There were also less iPhone units sold. Only 50 million was iPhone was shipped, down 11 million from 61 million units […]
