The FTSE 100 index hit an all-time high, on Tuesday. On the daily chart, we can see the trend has been bullish since the Brexit vote in late June. The near term major resistance level at 7000 was broken on 4th October. The current price is still holding above 7000 and the uptrend line support. […]
EURUSD retraced yesterday, trading below the near term major downtrend resistance line. Today we saw the release of the German ZEW Economic Sentiment and Current Situation for October, also the Eurozone ZEW Economic Sentiment for October. All three figures were better than expectations and the previous figures. Yet the figures didn’t help EURUSD rally, as […]
USDCAD has been bullish since the early September, as the recent US economic data outperforms. Yet the price is trading below the mid-term resistance level at 1.3300, the selling pressure at this level is very heavy, the price will likely pull back at this zone. In addition, the daily Stochastic Oscillator is around 80, suggesting […]
GBPUSD plunged like a stone at the start of the Asian session, hitting a 31-year low. The significant support level at 1.2000 was once broken, yet It was followed by a quick rebound, recovering the level. Currently the speculation about the sharp fall, centre around dealer fat finger, or algorithmic sell orders triggered by French […]
We have seen the US ISM Manufacturing and Non-Manufacturing PMI figures this week both outperforming, lifting market expectations on a December rate hike and leading to a considerable strengthening of the dollar. USDJPY has broken the mid-term major downtrend line resistance on Tuesday 4th with strong bullish momentum. In addition, the 8 moving average has […]
This morning saw the release of the German and Eurozone Services PMIs and Composite PMIs for September, better-than-expected, helped EURUSD rallied and broke the resistance level at 1.1220. The dollar has surged substantially yesterday as the ISM Manufacturing PMI outperformed, and the Cleveland Fed Loretta Mester stated that a rate hike in November is likely. […]
This morning the PM announced the timeline for the negotiations between the UK and the EU, by stating the intention to trigger Article 50 by March 2017. In addition, Chancellor Philip Hammond warned that Britain’s economy is facing a rollercoaster ride over the coming years during the process of negotiation to leave the EU. After […]
We got the UK Q2 GDP (YoY and QoQ) final readings this morning. The Q2 GDP YoY fell to 2.1%, compared to expectations of 2.2%, yet better than the previous figure of 1.9%. The Q2 GDP QoQ rose to 0.7%, better than the expectations and the previous figure of 0.6%. The marginal gain helped GBPUSD […]
USDCAD rallied yesterday with strong bullish momentum after Yellen’s hawkish testimony about a rate hike this year, touching the resistance level at 1.3280. Yet the rally was followed by a very deep retracement, giving up all the previous gains from 23rd onwards. The significant support levels at 1.3200 and 1.3100 were both broken. It rebounded […]
The three day OPEC meeting took place from Monday 26th September, in Algeria, although the Algeria Energy Minister stated that output cuts or a freeze are both possible. In fact, there are still conflicts of interest between Saudi Arabia and Iran. Iran aims to reach the pre-sanction output and regain its previous market share. It […]
GBPUSD has retraced since 22nd September after testing the significant resistance level at 1.3100 The trend remains bearish, yet it has reached the mid-term uptrend line support, which provides a stronger support. In addition, the daily Stochastic Oscillator is below 30, the price may hold at this level. In the near term, the trading pattern […]
The FTSE 100 cash index rallied on 21st September, helped by the Fed’s statement. Yet it retraced after testing the significant resistance level at 6930, the selling pressure at this level is heavy. The price between 7000 and 6930 is a major resistance zone, the bullish momentum will likely be restrained when it nears. In […]
The Bank of Japan announced that rates remain unchanged at -0.01%, and the rate of government bonds purchase remains at 80 trillion yen a year. Additionally, the monetary policy framework and focus have been amended. USDJPY plunged after the BoJ announced that the rates and stimulus measures remain unchanged, testing the significant support line at […]
USDJPY has turned bearish since 6th September as the downtrend line and the support level at 102.00 were both broken. 102.00 has turned into the major resistance level, the upside selling pressure is heavy. The Bank of Japan and the Fed will announce interest rate decisions and monetary policy statements early morning and at 18:00 […]
The US CPI figures released last Friday were better-than-expected. The dollar index surged, broke three resistance levels at 95.40, 95.60 and 95.80 respectively. It retraced after testing the significant resistance level at 96.00, as the selling pressure above 96.00 is heavy. The current price holds above the newly formed support level at 95.80, testing the […]
The dollar index has rebounded since 8th September after tested the support line at 94.50. On 13th September, the index broke the downtrend line resistance and held. The current price is oscillating in the range between the downtrend line support at 95.16 and the uptrend line resistance at 95.48. The daily Stochastic Oscillator is around […]
GBPUSD UK inflation data was released earlier, CPI and Core CPI (YoY) for August were both in line with previous figures, yet slightly lower-than-expected. PPI–Input and PPI–output (YoY) for August were higher than the previous figures, yet lower-than-expected. GBPUSD fell and broke the significant support line at 1.3300. The price zone between 1.3300 and 1.3330 […]
The Boston Fed Chair Rosengren made a hawkish statement last Friday, mentioning that if rates remain at a low level for long term, will pose risks of overheat to the economy and may result in another recession. The hawkish statement boosted the market expectations on a September rate hike, and pushed the dollar index up. […]
USDCAD Canadian Net Change in Employment and Unemployment Rate for August, will be released at 12:30 GMT today. USDCAD has turned bearish since 1st September, when the US ISM figure underperformed. Yet the level at 1.2800 is a significant support level. USDCAD has rebounded since 7th September, after the Bank of Canada announced rates remain […]
EURUSD The ECB interest rate decision and monetary policy statement, will be released today at 11:45 and 12:30 GMT respectively. The Eurozone economy remains tepid, and the inflation growth is still weak. The market expects the ECB to implement more stimulus measures in the coming months as the inflation still remains low. The interest rate […]
The US ISM Non-Manufacturing PMI for August, released yesterday, plunged to 51.4, the lowest level since Jan 2010, resulted in the sharp falling of the dollar. The dollar weakened across the board. The ISM Manufacturing PMI released on 1st September fell below 50. The subsequent Non-Farm Payroll released last Friday was weak. The ISM Non-Manufacturing […]
AUDUSD The RBA rate decision was announced this morning, as unchanged at 1.5%, in line with consensus. The Australian Current Account Balance in Q2, released this morning, was -15.50 billion, beating expectations of -19.75 billion. The positive figure helped the Aussie break the major resistance at 0.7600 and the uptrend line resistance this morning. It […]
GOLD Gold rebounded after testing the significant support level at 1300 on 2nd September. The weak NFP figure helped spot Gold surge from 1296.66 to 1330.07, a 2.58% intra-day rise. The price retraced after testing the significant resistance level at 1330, where also the uptrend line resistance situates. It currently holds above the newly formed […]
The Dollar Index (DXY) The US Non-Farm Payroll (NFP) and Unemployment Rate for August were released earlier. The NFP reading fell to 151k, lower than both expectations of 181k, and the previous figure of 255k in July. The Unemployment Rate was 4.9%, in line with the previous figure, yet slightly higher than the expectations of […]
USDCAD On the daily chart, USDCAD has rallied since Yellen’s hawkish speech last Friday, and broke the significant resistance level at 1.3000. Yet USDCAD is currently trading around the next major resistance level at 1.3100, where the significant uptrend line resistance situates, suggesting heavy selling pressure at this price zone. In addition, the daily and […]
The Dollar Index (DXY) Janet Yellen’s hawkish statement in Jackson Hole last Friday on 26th August has led to a dramatic move in the dollar. The dollar index reached the biggest intra-day rally of 1.48% since 24th June, the dollar strengthened across the board. On the daily chart of the dollar index (DXY), the major […]
The Dollar Index (DXY) Today, Fed Chairman Janet Yellen will make a speech at 14:00 GMT. In addition, the US Q2 GDP Growth second estimate (QoQ) annualized figure, and Goods Trade Balance for July, to be released at 12:30 GMT. The dollar index (DXY) rallied yesterday, helped by the positive Durable and Core Durable Goods […]
The Dollar Index Future (DXY) The dollar has rallied from 23rd to 24th Aug helped by the highest level of New Home Sales figure since Oct 2007. On the 4 hourly chart, the dollar index future (DXY) broke the upside major downtrend line resistance at 94.53 on 24th Aug by a long bullish candle. It […]
GBPUSD Sterling broke the major resistances at 1.3200 and 1.3230 this morning as a result of the earlier weakening of the dollar. The price further tested the next resistances at 1.3230 and 1.3250 then pulled back as the dollar is turning strong, weighing on GBPUSD. It is currently oscillating around the level at 1.3230. On […]
German and Eurozone Manufacturing, Services and Composite PMIs for Aug, will be released at 08:30 and 09:00 GMT+1 on Tue 23rd Aug. Although the German Manufacturing PMI in July fell slightly to 53.8, from 54.5 in June, it was the strongest expansion in the past four and a half years. In addition, output grew at […]
