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21.07.2017 – Midday Snapshot by Dukascopy

Let’s take a look at how things have been shaping up for FX traders during the last morning session of this trading week. Euro/Dollar has moved further above the 1 16 level, gaining 58 pips, before a correction wiped out most of the gains. Turnover is average and neutral sentiment of the traders is 10% […]

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24.07.2017 – Economic Calendar by Dukascopy

Monday brings the latest Purchasing Managers Indices from around the world, so let’s take a closer look. The schedule starts at half past midnight with the Japanese Preliminary Manufacturing PMI for July. The Index slipped by point 7 points in June as orders, output and employment all grew at a slower rate. July PMIs from […]

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NZD/USD Intraday technical levels and trading recommendations for July 21, 2017

Daily Outlook The NZD/USD pair has been trending up within the depicted bullish channel since January 2016. In November 2016, early signs of bullish weakness were expressed on the chart when the pair failed to record a new high above 0.7400. A bearish breakout of the lower limit of the channel took place in December […]

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Intraday technical levels and trading recommendations for EUR/USD for July 21, 2017

Monthly Outlook In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target is projected toward 0.9450. In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997. […]

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21.07.2017 – Spike Controller by Dukascopy

Make sure your broker is staying honest on this Friday by watching the Primary Dukascopy Spike Controller. Euro/Dollar’s long term average spread is point 3 pips and maximum separation has been 3.1 pips. The pair has gained a massive 198 pips or 1.72% as it broke through both the 1 15 and 1 16 levels. […]

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Elliott Wave Ananlysis of EUR/NZD for July 21, 2017

Wave summary: No much to add here. We are still looking for a break above 1.5899 to confirm the next impulsive rally higher towards 1.6236 and above. As long as resistance at 1.5899 is able to cap the upside, more sideways consolidation should be expected, but no break below 1.5419 can be accepted under this […]

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Elliott Wave Ananlysis of EUR/JPY for July 21, 2017

Wave summary: The corrective structure has shifted in favor of a flat correction. Short-term, we expecte resistance at 130.77 will be able to cap the upside for a final leg lower to support at 127.22 to complete the flat correction in wave iv and then move higher towards 133.46 in wave v. Trading recommendation: Our […]

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Daily analysis of major pairs for July 21, 2017

EUR/USD: On the EUR/USD pair, bulls are clear winners this week. Price has already gone above the multi-month high at 1.1600 (which was our ultimate target for the week). Since there is a strong Bullish Confirmation Pattern in the market, price would continue going further upwards until it reaches the resistance line at 1.1700. USD/CHF: […]

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Technical analysis of GBP/JPY for July 21, 2017

Our target which we predicted in yesterday’s analysis has been hit. GBP/JPY is still under pressure. The pair is rebounding and has broken above its declining 20-period moving average. The relative strength index is above its neutrality level at 50. Nevertheless, 145.70 is playing a key resistance role, which should limit the upside potential. As […]

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21.07.2017 – Trading Signals by Dukascopy

These are the Main Daily Trading Signals for Friday. Here’s how the interbank compares with the technicals at 8 AM GMT. 5 studies point South on Euro/Dollar’s hourly chart, but the mid and long-term scales turn overwhelmingly bullish with 6 and 7 studies, respectively, and they are in line with the more than 16% long […]

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Euro : A Brief History of the EU’s Shared Currency

You probably know the Euro as one of the biggest currencies in the world, so it’s easy to forget, but the euro is one of the world’s youngest currencies. Less than 20 years ago the euro did not exist! It was established in 1999 in 11 of 15 European Union (EU) member states. It has […]

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Global macro overview for 21/07/2017

Global macro overview for 21/07/2017: The European Central Bank has left the interest rates unchanged at 0.0% as widely expected. During the press conference, ECB President Mario Draghi said that asset purchases will continue at least through December or until ECB sees sustained inflation pickup. Moreover, he said that incoming information confirms strengthening of the […]

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Trading plan 07/21/2017

The overall picture: Trend against the dollar. The main event of the week was the ECB was retained. ECB President Draghi recognized that the EU is growing more confidently, however, the inflation is still too low and growth is insufficient. It is uncertain if the EURUSD showed robust growth following the decision of the ECB. […]

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Euro and the Pound Remain Favorites

Eurozone Today, the ECB will hold a regular meeting on monetary policy, at the moment heightened uncertainty remains on its outcome. In fact, the ECB has only one crucial reason for refining from completing the easing program. Partial profit-taking before the meeting helped to reduce prices to 1.15, but the probability of resuming growth remains […]

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Technical analysis of USDX for July 21, 2017

The Dollar index remains in a bearish trend in all time frames. Price made a new lower low today as its main component EUR/USD is rallying. The Dollar index has now reached our second target of 94. Blue lines – bearish channel The Dollar index is trading inside the bearish channel. Price is right on […]

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Technical analysis of gold for July 21, 2017

GOLD price held the $1,235 support yesterday and has broken to new short-term highs. Price is trading just below $1,250 and our target of $1,260 is very close. Trend is bullish. Gold price is trading above both the tenkan- and kijun-sen indicators. Trend is bullish in the 4 hour chart. Price held above short-term support […]

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Trading plan for 21/07/2017

Trading plan for 21/07/2017: Lower volatility was noted during the Asian session. EUR/USD remains in a narrow daily range just below yesterday’s long-term highs and is currently at 1.1635. GBP/USD is testing a strong resistance at 1.300 level. USD/JPY after yesterday’s decrease to 111.50 fights back over 112.00 level. The S&P500 index reached yesterday historically […]

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21.07.2017 – Support and Resistance by Dukascopy

Good morning, traders, the Dukascopy TV team is here with this week’s last Support and Resistance Level Report. Euro/Dollar saw quite a rise yesterday, and it now has R1 of 1 1660 and S1 of 1 1610. The lower two resistance lines have found 2 matches each, including Price Channel Indicator Upper Line for R1 […]

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Forex Market Wrap 21/7/2017

Pepperstone’s Market Analyst, Darren Sinden, takes you through the overnight changes and price moves to be aware of: – “No cliff edge” pledge by PM May. – Euro is the only game in town. – Key Canadian data on tap – Trump turns up the heat on Russia links investigation. – Deflation ” reports of […]

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Friday Lookback 21-07-2017

Weekly Lookback Welcome to the EasyMarkets weekly review where we look back over the results of some of the previous week’s economic indicators. It gives us the chance to reflect on how much expectations were met or missed and to examine a successful trade you could have made this week. Event: China Gross Domestic Product […]

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USD struggles with Trumps red line

The US Labour Department released Jobless claims data, on Thursday, showing a drop of 15K for the week ended July 15th to 233K. This was the lowest level for 5 months and is a strong indication of a strong job market. The US labour market is at near “full employment” with the latest jobless rate […]

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Fundamental Analysis of CAD/JPY for July 21, 2017

CAD/JPY is currently residing in a corrective volatile structure at the edge of breaking above the resistance level of 86.70. JPY has been quite weak against CAD which is currently came to a stop due to indecision in the market now. Yesterday JPY Policy Rate was published with an unchanged figure at -0.10% as per […]

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Technical analysis of EUR/USD for July 21, 2017

Today, when the Euro Zone and thet US market open, no Economic Data will be released, so, amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Breakout BUY Level: 1.1685. Strong Resistance:1.1678. Original Resistance: 1.1667. Inner Sell Area: 1.1656. Target Inner Area: 1.1628. Inner Buy Area: […]

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Fundamental Analysis of NZD/USD for July 21, 2017

NZD/USD has been in a non-volatile bullish trend recently which is expected to continue further until 0.7500 resistance level is reached in the coming days. Today NZD Visitor Arrivals report showed an increase to 5.1% which previously was -1.4%, as tourism plays a significant role in the New Zealand economy the report has a direct […]

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Technical analysis of USD/JPY for July 21, 2017

In Asia, today both Japan and US market will not release any Economic Data. So, there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 112.57. Resistance. 2: 112.36. Resistance. 1: 112.15. Support. 1: 111.86. Support. 2: 111.64. Support. 3: 111.42. Disclaimer: Trading Forex […]

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Fundamental Analysis of EUR/AUD for July 21, 2017

EUR/AUD has shown a bullish impulsive momentum yesterday after the recent bearish trend which took the price towards the support level of 1.4500. Yesterday AUD Employment Change report was published with a decreased figure at 14.0k from the previous figure of 38.0k which was expected to be at 14.4k, Unemployment Rate was unchanged at 5.6% […]

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Fundamental Analysis of AUD/USD for July 21, 2017

After a non-volatile bullish trend after breaking above the 0.7750-0.7830 resistance area, AUD/USD has shown some indecision yesterday. Yesterday AUD/USD Employment Change report was published with a decreased figure at 14.0k from the previous value of 38.0k which was expected to be at 14.4k, Unemployment Rate was unchanged at 5.6% as expected and NAB Quarterly […]

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EUR/USD profit target reached perfectly, prepare to sell for a drop

The price has shot up from our buying level yesterday perfectly and reached our profit target once again. We prepare to sell below major resistance at 1.1691 (Fibonacci extension, Elliott wave theory) for a corrective push down to at least 1.1583 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing major resistance below 98% […]

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