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Since June 2018, the EUR/USD pair has been moving sideways with slight bearish tendency within the depicted bearish Channel (In RED). On November 13, the EUR/USD demonstrated recent bullish recovery around 1.1220-1.1250 where the current bullish movement above the depicted short-term bullish channel (In BLUE) was initiated. Bullish fixation above 1.1420 was needed to enhance […]

On December 12, the previously-dominating bearish momentum came to an end when the GBP/USD pair visited the price levels of 1.2500 where the backside of the broken daily uptrend was located. Since then, the current bullish swing has been taking place until January 17 when a bearish Engulfing candlestick was demonstrated around 1.2999 (around the […]

Overview: The NZD/USD pair breached resistance which had turned into strong support at the level of 0.6705 this week. The level of 0.6705 coincides with a golden ratio (61.8% of Fibonacci), which is expected to act as major support today. The RSI is considered to be overbought, because it is above 70. The RSI is […]

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 […]

Strong calendar news is expected today at 11.55 (neutral), 4:30 pm (positive), 6:00 pm (positive) Moscow time. Trend analysis (Fig. 1). On Friday, the price before the news (16.30 Moscow time) will move up in the side channel. The first upper target 1.1502 is the resistance line (red bold line). Fig. 1 (daily schedule). Comprehensive […]

Trend analysis (Fig. 1). On Friday, the price before the news (16.30 Moscow time) will move down in the side channel. The first lower target 1.3042 is the rolling level of 23.6% (blue dashed line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – down; […]

Wave counting analysis: On Thursday, January 31, trading ended with a 30 bp decline for the EUR / USD pair. Thus, the estimated wave 2 can be completed. If this assumption is true, then the decline of the instrument will continue within wave 3 with targets located about 13 figures and below. Even if the […]

USD / JPY The growth of stock markets over the past two days overwhelmed the fears of investors trading in Japanese yen, concentrating on the problems of Great Britain, China, and Italy, and “persuaded” them to return to purchases again. Yesterday, the yen did not achieve a bit in reducing the support of the price […]

On the whole, it was a rather calm day yesterday, which is not surprising, since market participants had to take a breath after the meeting of the Federal Commission on Open Market Operations. The single European currency, as expected, fell a little, not only because of a rebound after a sharp rise on Wednesday but […]

EUR/USD Unfortunately, the euro exit over the level of 1.1500 yesterday turned out to be false. The reason for this was very strong data on sales of new homes in the US – the November New Home Sales was 657 thousand compared to the forecast of 569 thousand and the previous figure was revised from […]

To open long positions on GBP/USD you need: Buyers of the British pound may resume an uptrend, but this will require a breakdown of the middle of the channel in the area of 1.3104, with a fixation above the resistance of 1.3159. Only after this will the prospect of updating the highs in the region […]

To open long positions on EURUSD you need: Weak eurozone reports, which I mentioned yesterday, continue to put pressure on the euro. Today, it is best to return to purchases after a false breakdown in the area of 1.1434 or already to rebound from a larger support of 1.1393. Much will depend on today’s data […]

When the European market opens, some economic data will be released such as Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Final Manufacturing PMI, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, Spanish Manufacturing PMI, and French Gov Budget Balance. The US will also publish the economic data such as Total […]

In Asia, Japan will release the Final Manufacturing PMI, Unemployment Rate and the US will also publish some economic data such as Total Vehicle Sales, Revised UoM Inflation Expectations, ISM Manufacturing Prices, Revised UoM Consumer Sentiment, ISM Manufacturing PMI, Final Manufacturing PMI, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So there is […]

For the last trading day, the currency pair Pound / Dollar showed a low volatility of 91 points, as a result of rolling back quotes to the limits of the recent stagnation. From the point of view of technical analysis, we see that after the descent to the value of 1.3050, the quotation felt under […]

Canadian economic growth slowed again: on a monthly basis, GDP fell to a negative area and reached -0.1% in November. In annual terms, the indicator also fell, however, was still in the “green zone”: with a growth forecast of 1.6%, the indicator rose to 1.7%, while in October the growth was more significant – 2.2%. […]

4-hour timeframe The amplitude of the last 5 days (high-low): 82p – 159p – 73p – 144p – 90p. Average amplitude for the last 5 days: 110p (119p). On Thursday, January 31, the GBP/USD pair is adjusted close to its local highs. The lack of continued downward movement makes one doubt that the pair is […]

4-hour timeframe The amplitude of the last 5 days (high-low): 101p – 117p – 54p – 39p – 96p. Average amplitude for the last 5 days: 81p (71p). During January 31, the EUR/USD currency pair suspended an upward movement, which began yesterday due to absolutely “dovish” statements of the Federal Reserve representatives. Thus, we can […]

The head of the American manufacturer of electric cars Tesla Elon Musk announced that the financial director of the company Deepak Ahuja will leave his post this year amid unsatisfactory financial results. In 2018, Tesla suffered a loss of $ 976 million, but compared with the previous year, it declined more than twice, the previous […]

In January, oil supplies by OPEC countries decreased the most in the last two years, according to a Reuters survey, since the largest exporter, Saudi Arabia, is the only one operating at full capacity, while in Iran, Libya and Venezuela there is a decrease. The 14-member Organization of Petroleum Exporting Countries pumped 30.98 million barrels […]

What traders will remember from January? This is probably due to the fact that long positions on USD / CHF brought 1.5%, on USD / SEK, 2.6%, and “shorts” on EUR / NOK, over 2%. Sales of the single European currency against the greenback before the ECB meeting also justified themselves, but expectations about easing […]

To open long positions on the GBP / USD pair, you need: The situation has not changed in comparison with the morning forecast. British pound buyers may resume an uptrend but this will require a breakdown of the resistance at 1.3135. Only after the prospect of updating the highs of 1.3214 and 1.3260 will open, […]

To open long positions on EUR / USD pair, you need: Amid weak fundamental statistics for the eurozone, euro buyers were expected to return to the market only after the test of the support level of 1.1471, which I talked about in more detail in my morning review. At the moment, the main task is […]

After the Fed promised to be careful with further increases in interest rates, the dollar weakened while the Australian dollar responded with an increase in this statement. The Fed left interest rates unchanged and abandoned its promises of “further gradual increases” in interest rates as expected. The dollar fell to a three-week low against other […]

USD/CHF has been correcting and consolidating at the edge of 0.9950 area for a few days in a row from where a break above the area is expected to lead to further bullish momentum. Yesterday FOMC meeting ended with the dovish policy update. The US central bank maintained the Federal Funds rate unchanged, thus leaving […]

Since June 2018, the EUR/USD pair has been moving sideways with slight bearish tendency within the depicted bearish Channel (In RED). On November 13, the EUR/USD demonstrated recent bullish recovery around 1.1220-1.1250 where the current bullish movement above the depicted short-term bullish channel (In BLUE) was initiated. Bullish fixation above 1.1420 was needed to enhance […]

AUD / USD pair The Australian dollar is unstoppable. Taking advantage of the temporary weakness of the US dollar and similarly temporary and weak growth in commodity markets due to the political crisis in Venezuela), the “Australian” went above the upper limit of the lowering price channel. On both scales, the trend is clearly increasing […]

On December 12, the previously-dominating bearish momentum came to an end when the GBP/USD pair visited the price levels of 1.2500 where the backside of the broken daily uptrend was located. Since then, the current bullish swing has been taking place until January 17 when a bearish Engulfing candlestick was demonstrated around 1.2999 (around the […]

“The Bank of Japan can use various tools or their combinations to expand incentives, if necessary, but it will take into account the side effects of prolonged policy easing,” said CB Governor Masayoshi Amamiya. Masayoshi reminded investors that the Bank of Japan would consider increasing cash support only if the movement towards achieving the 2 […]

R1: 1.3156 R2: 1.3197 R3: 1.3248 Pivot: 1.3105 S1: 1.3065 S2: 1.3013 S3: 1.2970 Trading recommendation: We closed half of the position at the first target 1.3151 but second half of the positions is still active with the target at 1.3211 (weekly high). Stop loss on second half of the position is moved on breakeven. […]