The upward movement remains an impulse, therefore the important level of support is the a CZ 1.1422-1.1413. The test of the specified zone should be considered for the appearance of demand and the pattern for purchases. If this happens, the first goal will be the maximum of last week. Further targets will be measured from […]
To open long positions on GBP / USD, you need: The pound continued to decline against the background of weak data on PMI indices, which continue a series of weak statistics on the UK economy. Buyers today can only rely on the formation of a false breakdown in the support area of 1.2995, and otherwise, […]
To open long positions on EUR / USD, you need: Buyers of the euro were in a losing situation after the release of weak PMI indices for the eurozone countries, which led to a further decrease in the euro along with the trend. At present, it is best to return to long positions after the […]
The Bitcoin is trading sideways at the price of $3.471 on a light volume. White lines – bearish flag in creation Most recently, I have found that a fake breakout of the resistance ($3.535) and hidden bearish divergence on the MACD oscillator, which is a sign of weakness in the background. Short-term resistance is set […]
Dear colleagues. For the currency pair Euro / Dollar, we are following the downward structure of January 31 and in order to continue the upward movement, it is necessary to design the local structure. For the currency pair Pound / Dollar, the development of the downward cycle of January 28 is expected after the price […]
The GBP/USD pair made a successful change in trend behavior from bullish to bearish. The key resistance at 1.3215 held successfully and the sellers started the distribution process. Short-term trend remains bearish and we are still holding our short position. Blue lines – bearish channel GBP/USD is in a bearish trend making lower highs and […]
Sellers are in control on Gold. We found a confirmed head and shoulders pattern, which is another strong sign of weakness. The price did small upward correction and fund support at $1.308.00 but in my opinion only temporary. The key short-term resistance remains at $1.323.00. As long as this resistance is holding, you should watch […]
USD/JPY has been quite impulsive amid the recent bullish momentum. The price is holding at the edge of 110.00-50 resistance area with a daily close. Ahead of macroeconomic data from the US this week, JPY has been quite solid amid the recently published economic reports while the Bank of Japan is busy with the wage […]
Overview: The AUD/USD pair is set above strong support at the level of 0.7046 which coincides with the 23.6% Fibonacci retracement level and 0.7168. This support has been rejected four times confirming the uptrend. Hence, major support is seen at the level of 0.7046, because the trend is still showing strength above it. Accordingly, the […]
The beginning of the week on the oil market was quite volatile. On Monday, the trading range of quotations was quite wide. Thus, during the day, a barrel of raw materials of the Brent variety managed to rise in price to a 2-month high and drop in price to a weekly minimum. Today, the black […]
Wave counting analysis: On February 4, the GBP / USD pair lost 35 bp. Despite the fact that wave 4 takes a fairly extensive form and now it already reached 50% mark of Fibonacci from the size of wave 3, the chances that the ascending section of trend will continue its formation. However, I warn […]
Overview: The GBP/USD pair will continue rising from the level of 1.3048 today. So, the support is found at the level of 1.3048, which represents the pivot point in the H1 time frame. Since the trend is above the pivoti level, the market is still in an uptrend. Therefore, the GBP/USD pair is continuing with […]
Large-scale graphics: Since April of last year, the rising wave has been developing on the chart of the motocross pair. In its structure, the middle part (B) is nearing completion. Medium scale graphics: The bearish stretch of December 10 in the larger wave model formed a correction. The price has reached the potential reversal zone, […]
Wave counting analysis: On Monday trading, February 4, it ended with a slight decline for the EUR/USD pair by 15 bp. Thus, the current wave counting maintains its integrity and implies the construction of a downward wave 3 within the framework of a new downtrend trend. If the current version is not correct but an […]
Large scale graphics: On the daily scale of the major franc chart, the last wave is ascending. Its countdown began in February last year. The structure is fully completed the first 2 parts (A + B). In the last part, the preparation for the final price spurt is completed. Medium scale graphics: In the ascending […]
4-hour timeframe Technical details The senior linear regression channel: direction – up. The younger linear regression channel: direction – up. Moving average (20; smoothed) – down. CCI: -117.6714 The currency pair GBP / USD on Tuesday, February 5, has fixed below the moving average line and continues not a too strong downward movement. Meanwhile, the […]
4-hour timeframe Technical details: The senior linear regression channel: direction – up. The junior linear regression channel: direction – down. Moving average (20; smoothed) – sideways. CCI: -118.4254 On the second trading day, the currency pair EUR / USD continues to decline weakly and has reached a moving average line. The further dynamics of the […]
The American dollar stopped its growth, which was formed yesterday in the first half of the day against the European currency after the release of a number of weak fundamental statistics for the eurozone. However, the decline in the EUR / USD pair stopped after a similar series of weak data on the US economy, […]
To open long positions on the GBP / USD pair, you need: Buyers of the British pound are not yet available in the market, however, a strong bearish correction is also not observed. The main task for the first half of the day will be the return and consolidation above the resistance of 1.3042, which […]
To open long positions on EUR / USD pair, you need: Although the euro is declining, the bearish momentum is very weak. In the first half of the day, buyers need to return to the resistance level of 1.1448, only above of which the demand for EUR / USD will increase. Then, this will lead […]
Trend analysis (Fig. 1). On Tuesday, the price will try to continue moving down. To do this, it will have to overcome the recoil level of 23.6% – 1.3034 (blue dashed line), which is unlikely. From this level, an upper movement is possible. Fig. 1 (daily schedule). Comprehensive analysis: – Indicator analysis – down; – […]
Trend analysis (Fig. 1). On Tuesday, the price will continue to move down. The first lower target of 1.1429 is the recoiling level of 38.2% (blue dashed line). Then the top is possible. Fig. 1 (daily schedule). Comprehensive analysis: – Indicator analysis – up; – Fibonacci levels – down; – Volumes – up; – Candlestick […]
4h The currency pair EUR / USD, after rebounding from the correctional level of 50.0% – 1.1517, performed consolidation below the Fibo level of 38.2% – 1.1446 and continues the process of falling in the direction of the level of 23.6% – 1.1358. Overlapping divergences on February 5th are not observed in any indicator. Fixing […]
4h The currency pair GBP / USD on a 4-hour chart rebounded from the Fibo level of 76.4% – 1.3094 with a turn in favor of the American dollar. As a result, February 5 continues to fall in the direction of the correction level of 61.8% – 1.2969. Rebounding the pair from the Fibo level […]
EUR/USD made no progress yesterday as price moved in a narrow trading range holding above 1.14 support and below 1.15 resistance. Short-term support is being challenged at 1.1430 and this might be a sign of weakness implying a move towards 1.1360 is possible over the coming sessions. Green rectangles – topping pattern with overbought RSI […]
Trading plan for 05/02/2019: On Tuesday, the 5th of February, the event calendar is light in important data releases, but the global investors should keep an eye on the PMI Services and Composite PMI being released from Germany, France, Spain, Italy, the UK, and the Eurozone itself. During the US session, the only interesting data […]
Gold price after topping at $1,326 has made a 15$ pull back and is now trying to bounce higher once again. Although technically trend remains bullish, I prefer to be neutral Gold at current levels as I expect this pull back to at least go towards $1,300. Gold price is above both the tenkan- and […]
Bitcoin Elliott Wave analysis for 05/02/2019: The market trading range is getting more narrow, breakout soon? Market technical overview: The BTC/USD market is still developing the horizontal wave progression and the price range is now, even more, narrower as the range has decreased to $122 only (from $3,422 to $3,544). This lack of volatility might […]
Technical analysis of USD/CAD for 05/02/2019: The key Fibonacci retracement is violated and the bounces are shallow so far Market technical overview: The USD/CAD pair is continuing its way down. The 61% Fibonacci retracement at the level of 1.3119 has been broken and the price has made a new local low at the level of […]
Technical analysis of GBP/USD for 05/02/2019: The technical support is broken, more downside is expected Market technical overview: The GBP/USD pair has broken below the key technical support zone located between the levels of 1.3042 – 1.3055 and has made a new local low at the level of 1.3025. This low has been also made […]
