Overview: The USD/CHF pair faced resistance at the level of 1.0031, while minor resistance is seen at 0.9987. Support is found at the levels of 0.9884 and 0.9819. Also, it should be noted that a daily pivot point has already set at the level of 0.9939. Equally important, the USD/CHF pair is still moving around […]
Overview: The USD/CAD pair continues to move downwards from the level of 1.3178. Yesterday, the pair dropped from the level of 1.3178 to the bottom around 1.3117. But the pair has rebounded from the bottom of 1.3117 to close at 1.3139. Today, the first support level is seen at 1.3117, the price is moving in […]
Gold continues to rally as expected. Our bullish positions looks very stable and we expect the test of the $1.340.00 (major target). Buyers are in total control and doing a good job towards the median Pitchfork line ($1.340.00) of the larger channel. According to the daily chart, Gold is making higher highs and higher lows […]
Bitcoin has been trading downwards. The price tested the level of $3.390. Our bearish view from yesterday is still active. Since the key support cluster at $3.420 is broken and successfully retested, we expect downward continuation. I also found a successful breakout of the mini upward Pitchfork channel, which is another sign of underlying weakness. […]
Wave counting analysis: The trading on Wednesday, January 30, ended with a 50 bp rise. Thus, the estimated wave 2 in the composition of the new downtrend of the trend took too long. The rise of the pair was associated with too soft statements by the Fed in the covering letter. Now the whole wave […]
Wave counting analysis: On January 30, the GBP / USD pair rose by 50 bp, presumably completing the construction of wave 4, as part of the future 3 uptrend trend. If the current wave counting is correct, then the increase in quotations will continue within wave 5 with targets located near the Fibonacci 127.2% level. […]
On Thursday, after touching the cloud consisting of the resistance line 1.1507 (red bold line) and the sliding level 76.4% – 1.1505 (yellow dashed line), the price will move down. The first lower target of 1.1478 is the rolling level of 14.6% (blue dashed line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – […]
Trading plan for 31/01/2019: Dovish surprises in the FOMC decision bring the weakness in USD and rally in the stock market The dollar loses after the publication of the FOMC statement. The market is focused on three new elements: the Fed has removed the mention of gradual interest rate increases. In its place appeared a […]
Trend analysis (Fig. 1). On Thursday, there is a work down from the first lower target 1.3042 – a rolling level of 23.6% (blue dashed line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – down; – candlestick analysis – down; – trend analysis – […]
The currency pair Pound / Dollar for the last trading day showed a high volatility of 143 points, as a result forming a reverse movement. From the point of view of technical analysis, we have resistance in the face of the level of 1.3200, wherein after a two-day bumpiness, the quotation unfolded, forming impulse candles […]
After yesterday’s events in the British Parliament, the headlines of the newspaper were filled with phrases that Theresa May “was able to win both the opposition and the conservatives.” And indeed, thanks to the adopted amendments, the prime minister has significantly strengthened his position, eliminating the most undesirable scenarios for the government from the agenda. […]
4-hour timeframe The amplitude of the last 5 days (high-low): 43p – 101p – 117p – 54p – 39p. Average amplitude for the last 5 days: 71p (71p). On January 30, the EUR/USD currency pair showed a weak downward movement. Instrument volatility declined again; yesterday, for example, the pair passed only 40 points during the […]
4-hour timeframe The amplitude of the last 5 days (high-low): 138p – 82p – 159p – 73p – 144p. Average amplitude for the last 5 days: 119p (114p). On Wednesday, January 30, the GBP/USD pair also started to adjust, which indicates a strengthening of the American currency. Correction for the instrument was brewing in technical […]
The yen has reached a mark that indicates that Japanese investors can return to US Treasury bonds. Japan’s national currency rose above $ 110, and local funds began to increase the purchase of foreign securities at the fastest pace in four months. In Deutsche Bank AG and Credit Agricole SA, they believe that the trend […]
Markets focused on trade negotiations between the United States and China. According to a Reuters poll conducted last week, any aggravation of the trade conflict between the two largest economies in the world could lead to a sharp decline in the global economy. While China has indicated its willingness to buy more goods from the […]
A good report on consumer sentiment in Germany did not help buyers of the European currency, and after another unsuccessful breakthrough of the resistance level of 1.1450, pressure on the euro resumed. Additional problems were created after the report on the growth of the French economy and lower inflation in Germany. According to leading data, […]
The pound will continue to attempt to strengthen its position after fears of the “problematic” Brexit have declined, and the dollar will weaken on the eve of the Fed meeting. Last week, the pound reached $ 1.3218, the highest since mid-October, in the hope that London will be able to make a deal with the […]
Already this evening, the results of the first meeting of the Federal Reserve System (FRS) of the United States this year will be announced. How the market will react to them will depend on three factors: a shift in the timing of monetary tightening, risk assessment and a rebalancing. Increases in interest rates this time […]
Gold continues to rally as expected. It respects the Pitchfork upward channel nicely and it is doing a good job towards the median line ($1.340.00) of the larger channel. According to the daily chart, Gold is making higher highs and higher lows which is a sign that buyers are in total control. There are no […]
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 significant bearish rejection was demonstrated around 1.2999 (Bearish Engulfing candlestick […]
Overview: The EUR/USD pair opened around the weekly pivot point (1.1393). It continued to move downwards from the level of 1.1393 to the bottom around 1.1335. Today, the first resistance level is seen at 1.1393 followed by 1.1426, while daily support 1 is seen at 1.1335. Furthermore, the moving average (100) starts signaling a downward […]
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 […]
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 […]
Bitcoin managed to sustain the bullish momentum above $3,400 area while being held by the dynamic resistance area of Kumo Cloud. After an impulsive dip towards $3,350 area recently, the price is currently consolidating and correcting below $3,500 area which is expected to lead to further bearish momentum with a target towards $3,000 support area […]
AUD/USD is currently consolidating at the edge of 0.7200 while USD has been weighed down by the government shutdown and weak economic reports ahead of the FOMC Statement, Federal Funds Rate decision, and NFP reports this week. The Federal Open Market Committee is ending its two-day policy meeting. Today the FOMC is due to announce […]
AUD/JPY has been consolidating at the edge of 78.50 for a few days in a row. The price is expected to climb higher, breaking above the resistance areas to establish sustainable bullish momentum. Australia has been hurt because of the US-China trade war. The upside of the situation is that AUD can regain momentum. Today […]
The pound sterling reacted very painfully to the results of the next Brexit vote in the House of Commons. On the eve, the British currency depreciated against the dollar by 0.8%, showing one of the strongest falls in the current year. Judging by the dynamics of the pound, investors do not expect a quick resolution […]
On Wednesday, before the release of the news (16.15 Moscow time), the price will move down. The first lower target of 1.1413 is the rolling level of 23.6% (blue dashed line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – down; – candlestick analysis – […]
Gold price has reached my $1,315 target and we could see a small move higher towards $1,320 as well. However this is not the time to be greedy. Bulls should either take their profits or protect them with tight stops. Price has reached the upper channel boundary. Although we could see a throw off top, […]
Bitcoin Elliott Wave analysis for 30/01/2019: Local low was made, time for a bounce higher? Technical market overview: The BTC/USD pair has made a local low at the level of $3, 385 and bounced a little towards the local technical resistance at the level of $3,495. If the bulls want to move higher in order […]
