There’s a bearish ‘Wolfe Wave’ pattern on the twelve-hour chart. As you can see, the 1-3 line acted as resistance, and that could be the beginning of wave 6. Moreover, we’ve got a pullback from the 0.5 retracement of the previous decline, which provides more evidence for the bearish outlook. In this case, we’re likely […]
Background: In the background BTC got failed to test the Pitchfork median line inside of the downward channel, which is a sign of strength. There is also a rejection of the key support cluster at the price of $3.411 and the potential end of the larger downward correction (abc flat), which is another sign of […]
We are still bullish about Gold from $1,285.00. There is no change in the forecast since the price failed to break the key support at $1,275.00, which only added more strength into our bullish position. Background: In the background we got failed test of the Pitchfork median line inside of the downward channel but on […]
GBP/USD has been trading upwards. As I expected, the price tested the level of 1.3135 and reached my third upward target. The previous swing high (now potential support) is on the test and there are no strong sellers to break it, which is a sign of strength. The key support at the price of 1.3000 […]
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 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 […]
On Friday, the price before the news (12.00 Moscow time) will move up. Then the bottom is possible. The first lower target of 1.1256 is the support line (blue bold line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – up; – volumes – down; – candlestick analysis – […]
With a single European currency, everything is relatively clear, and its decline was fully justified. Indeed, as expected, the European Central Bank left the refinancing rate unchanged, and the most interesting thing happened already during the press conference of Mario Draghi. Initially, the head of the regulator said that the rates would remain unchanged until […]
Trading plan for 25/01/2019: Friday markets start in good sentiment and the leader on the currency market is GBP. USD and JPY are losing slightly. Stock exchanges in China and Japan grow despite a mixed session on Wall Street. A lot of buzz appeared in the subject of the government shutdown. The US Senate rejected […]
On Thursday, the ECB gave a strong impetus to the fall of the euro: the head of the ECB Draghi made it clear that we should not expect an increase in rates on the euro until the autumn – and maybe more. The reason – the weak state of the eurozone economy – plus external […]
On Thursday, the ECB left rates unchanged for the euro (as all experts assumed). In this case, the head of the ECB Mario Draghi expressed great concern about the state of the global economy. The chances of a rate increase by the ECB before the fall have plummeted – and it is possible that there […]
According to a study by eMarketer, China’s retail market in 2019 will overtake the American market in size and become the largest in the world. Experts predict that retail sales in the Chinese market will increase this year by 7.5%, to $ 5.636 trillion. A similar figure in the United States will increase by only […]
George Hollingbery, Minister for Trade Policy and International Trade of Great Britain, announced that the county is ready to conclude new trade agreements with the majority of third countries by the time of withdrawal from the European Union on March 29, 2019. The British authorities are actively negotiating with many countries about the conclusion of […]
The ECB has left its policy unchanged. We give the main comments of the ECB President Mario Draghi at a press conference. Evaluation but not a policy discussion “We didn’t have to discuss the consequences of the risk balance. Today’s meeting was mainly devoted to an assessment: where are we and why are we here, […]
Technical Outlook: We have presented a 4-hour chart view for the EUR/USD pair since November 13, 2018 to have a bigger picture. Please note that the support trend line connecting lows of November 13, 2018 and January 03, 2019 has been tested, while the prices have broken through the 1.1290 levels. Also note that prices […]
When the European market opens, some economic data will be released such as Belgian NBB Business Climate, and German Ifo Business Climate. Today, the US will not publish any economic data, so amid the reports, the EUR/USD pair will move in a low to a medium volatility during this day. TODAY’S TECHNICAL LEVEL: Breakout BUY […]
In Asia, Japan will release the Tokyo Core CPI y/y today, while the US will not publish any economic data. So there is a probability the USD/JPY pair will move with a low to a medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 110.32. Resistance. 2: 110.10. Resistance. 1: 109.89. Support. 1: 109.63. […]
4-hour timeframe The amplitude of the last 5 days (high-low): 36p – 58p – 34p – 38p – 43p. Average amplitude for the last 5 days: 42p (43p). On Thursday, January 24, the EUR/USD currency pair continued to decline ahead of the announcement of the results of the ECB meeting and the press conference. Immediately […]
The euro has organized new, very close levels to break through the range and start a strong movement. The main event is the ECB meeting on monetary policy today: the decision is at 11.45 London time, the press conference of the head of the ECB Mario Draghi is at 12.30 London time. In addition, the […]
The purchase of higher-yielding currencies of the EM segment for borrowed dollars brings 8.5% from the beginning of September last year. This is due to the alleged pause in tightening the Fed policy and the achievement of a trade agreement between Washington and Beijing. Volatility in financial markets weakened, the one-month figure fell in 20 […]
The number of Americans applying for unemployment benefits fell below the 49-year low. The US labor market remains strong, and this should alleviate concerns about a sharp slowdown in economic growth. Recall that the leading global economy now faces several obstacles at once, including the partial closure of the federal government, which is beginning to […]
The dollar received another reason for growth and jumped above the five-week high against the euro after the head of the European Central Bank, Mario Draghi, said that economic risks shifted to the downside, and short-term data is likely to be weaker than previously thought. Recall, the ECB left its monetary policy unchanged, as expected, […]
According to analysts Saxo Bank, the movement towards a weaker dollar may gain momentum if the US Federal Reserve System (FRS) will have to completely change its course due to the slowdown of the American and global economies in the foreseeable future. “The Fed seems to gradually come to understand the reality, in which the […]
After a two-week exit beyond the monthly CZ of January, the pair returned to its limits, which indicates the need to keep open purchases and consider new ones in the event of a decline. The upward movement of the pair is a weekly impulse. The fixation above 1/2 CZ of 1.3290-1.3279 allowed to open a […]
To open long positions on the GBP / USD pair, you need: As expected, the buyers failed to maintain the demand for the British pound and keep the morning support level of 1.3064, to which I paid attention. Optimism regarding the Brexit deal is gradually fading away and at the moment it is best to […]
The growth of the pair again led to the test of the monthly control zone of January. This suggests the possibility of closing all buy positions made at the beginning of the current week. The option with the formation of a reversal model comes to the fore. Now, a controversial situation is formed. The pair […]
Weak data, released in the eurozone in the first half of the day, pushed the European currency together with the US dollar. Particularly alarming for the manufacturing sector in Germany, whose index pointed to a slowdown in growth rates of activity. According to the data, the PMI Purchasing Managers Index for the manufacturing sector in […]
To open long positions on EURUSD you need: Buyers are clearly leaving the market before the meeting of the European Central Bank. While the intermediate support is provided by the lower limit of the side channel at 1.1339, after its test, there is no demand for European currency as we can see on the chart. […]
Since June 2018, the EUR/USD pair has been moving sideways with slight bearish tendency. Narrow sideway consolidations have been maintained within the depicted Flag 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 uptrend (In blue) was initiated. Bullish fixation above […]
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 […]
