Sale off of technological stocks continues. Twitter and Facebook, the biggest movers last week, could not find support yesterday; moreover, they fell by 7.7% and 2%, respectively. Both shares are in the oversold area, according to RSI index that fell below the signal level 30 on the daily charts. However, technical analysis points out that […]
In the currency market, the dollar was under some pressure following the data that indicated a weakening of the inflation in the Eurozone. The slowdown in prices in Germany and Spain can be seen as a harbinger of the inflation easing in the entire euro region, the preliminary statistics on which will be published later […]
• EURGBP reversed from support area • Further gains are likely EURGBP continues to rise after the recent upward reversal from the support area lying between the key support level 0.8800 (former resistance from June) and the 38.2% Fibonacci correction of the previous sharp upward impulse from the end of May. The upward reversal from […]
• Cotton broke key resistance level 88.70 • Further gains are likely Cotton continues to rise after the earlier breakout of the key resistance level 88.70 (which stopped the previous short-term impulse wave (i) at the start of July, as can be seen below). The breakout of the resistance level 88.70 should accelerate the active […]
The currencies of developed countries are moving within a narrow range at the beginning of the eventful week. The dollar index is around the mark of 94.50 and has been trading for two months in a range of slightly over 1% around this level. This quiet trading environment can be broken this week after the […]
• AUDNZD reversed from support area • Further gains are likely AUDNZD recently reversed up from the support area lying between the key support level 1.0860 (which has been reversing the price from the start of July) and the lower daily Bollinger Band. The upward reversal from this support area continues the active short-term impulse […]
• Corn broke resistance area • Further gains are likely Corn recently broke through the resistance area lying between the key resistance level 360.00 (which has been reversing the price from the end of June) and the 50% Fibonacci correction of the previous downward impulse form June. The breakout of this resistance area continues the […]
The single currency is traded near weekly lows against the dollar, getting under pressure after maintaining the soft tone of the ECB during the regular meeting. The EURUSD sank to 1.1640 on Thursday, losing about 0.9% after Draghi’s speech. The acceleration of the inflation and the promise to keep the rates unchanged reduce the real […]
ECB keeps interest rates, QE parameters, and forward guidance unchanged, reiterating the intention to keep rates at this level at least until summer 2019. During the press conference, ECB President noted the “steady and wide” economic growth of the euro area region and pointed out that the inflation would gain momentum by the end of […]
• EURCAD reversed from support zone • Likely to rise further EURCAD recently broke below the support zone lying between the key support level 1.5300 (which stopped the previous waves (a) and (b), as can be seen below) and the 38.2% Fibonacci correction of the upward impulse 1 from the end of May. The breakout […]
• Wheat approached strong resistance area • Further gains are likely Wheat has been rising sharply in the last few trading sessions inside the short-term impulse wave 3 which belongs to the medium-term impulse wave (3) from the start of July. The price is currently trading close to the strong resistance area lying between the […]
Yesterday the markets enjoyed a rare portion of good news on international trade. Trump and Juncker agreed not to introduce new tariffs for the period of negotiations. Europe promised to buy more American goods, including liquefied natural gas. In addition, policymakers from Canada and Mexico expressed optimism about negotiations on NAFTA. This positive news contributed […]
• Natural Gas reversed from support zone • Likely to rise further Natural Gas recently reversed up from the support zone lying between the multi-month support level 2.690 (which also reversed the price at start of May, as can be seen below), 61.8% Fibonacci correction of the upward impulse (1) and the lower daily Bollinger […]
• CHFJPY falling inside corrective wave 2 • Likely to fall further CHFJPY continues to fall inside the corrective wave 2 which started earlier from the resistance zone lying between the major resistance level 112.70 (former powerful support from 2017), 50% Fibonacci correction of the downward impulse from February and the upper daily Bollinger Band. […]
The US stock markets were marked by Tuesday’s growth in strong earnings reports, which allowed S&P500 to add 0.3% on Tuesday’s results. On Wednesday, by the beginning of Europe session the futures for S&P index remains near the closing levels of the previous day. It is also worth mentioning the growth of companies’ shares in […]
• EURGBP reversed from resistance zone • Likely to fall further EURGBP recently reversed down from the resistance zone lying between the major resistance level 0.8970 (which stopped the (B)-wave at the start of March) and the upper daily Bollinger Band. The downward reversal from this resistance zone started the active minor corrective wave (iv) […]
• Copper reversed from support zone • Likely to rise further Copper recently reversed up from the support zone lying between the support level 270.00 (which also stopped the previous minor impulse wave 3 in the middle of July) and the lower daily Bollinger Band. The upward reversal from this support zone started the active […]
The situation in the world markets looks controversial. Shares are growing after strong reporting of companies. The shares of Alphabet (#Google) jumped by 3.6% after the market closed on Monday, bringing capitalization of the company to $870 billion on strong quarterly reporting, despite a big fine imposed by the EU. By capitalizing the search engine […]
• EURAUD reversed from support zone • Likely to rise further EURAUD recently reversed up from the support zone lying between the pivotal support level 1.5690 (which also stopped the (a)-wave of the previous ABC correction 2), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous upward impulse 1. The upward reversal […]
• Silver reversed from resistance zone • Likely to fall further Silver today reversed down from the resistance zone lying between the long-term resistance level 15.60 (former multi-month support level from last December) and the 38.2% Fibonacci correction of the previous downward impulse (i). The downward reversal from this resistance zone continues the active short-term […]
• EURNZD reversed from resistance zone • Likely to fall further EURNZD recently reversed down from the resistance zone lying between the key resistance level 1.7300 (which has been reversing the price from May) and the upper daily Bollinger Band. The downward reversal from this resistance zone continues the active short-term ABC correction (ii) from […]
• Sugar reversed from support zone • Likely to rise further Sugar recently reversed up from the support zone lying between the key support level 0.1090 (which stopped the sharp downtrend in April) and the upper daily Bollinger Band. The upward reversal from this support zone completed the previous medium-term ABC correction (2) from the […]
The dollar index reached the one-year highs on Wednesday due to the demand for safe assets. USDX reached level 95.43 on Thursday, breaking the peak levels from November and May-June. However, Trump’s comments have caused pressure on the American currency, throwing the dollar from the recently achieved highs. U.S. president in an interview CNBC noted […]
• EURGBP broke key resistance level 0.8890 • Likely to rise further EURGBP recently broke above the key resistance level 0.8890 (which stopped the previous waves (i) and i in June and July, as can be seen below). The breakout of the resistance level 0.8890 accelerated the active minor impulse wave 3 – which belongs […]
• Palladium broke round support level 900.00 • Likely to fall further Palladium continues to fall sharply after the earlier breakout of the key round support level 900.00 (which stopped the previous medium-term impulse wave (C) in April, as can be seen from the daily Palladium chart below). The breakout of the support level 900.00 […]
• GBPUSD broke key support level 1.3070 • Likely to fall further GBPUSD recently broke through the key support level 1.3070 (which has been repeatedly reversing the price from last October, as can be seen from the daily GBPUSD chart below). The breakout of this the support level 1.3070 accelerated the active medium-term impulse wave […]
• Natural Gas broke support area • Likely to fall further Natural Gas recently broke through the support area lying between the key support level 2.770 (which also reversed the price in May) and the 61.8% Fibonacci correction of the previous upward impulse from March. The breakout of this support area accelerated the active medium-term […]
Powell’s speech with the semiannual report in the U.S. Congress contained an optimistic view on the economic outlook. Such a tone has reduced fears that trade wars will negatively affect economic valuations. The Fed’s confidence that the years ahead of the low unemployment and sustained growth have increased the demand for risks at the stock […]
• CHFJPY broke resistance zone • Likely to rise further CHFJPY recently broke through the resistance zone lying between the key resistance level 112.00 (which has reversed the price multiple times from March) and 38.2% Fibonacci correction of the previous downward impulse (3) from February. The breakout of this resistance zone accelerated the active short-term […]
• WTI broke support zone • Likely to fall further WTI recently broke below the support zone lying between the round support level 70.00 and 50% Fibonacci correction of the previous sharp upward impulse 3 from June. The breakout of this support zone accelerated the active short-term impulse wave C which belongs to the ABC […]
