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 […]
Trading recommendations: Nothing has specially changed since my yesterday’s analysis. BTC has failed to reach the Pitchfork median line, which is a sign that sellers are loosing power and the demand may increase. There is also a breakout of the Pitchfork diagonal (resistance), which is another confirmation of strength. The key support at the price […]
As long as the support at the price of $1,276.00 is active, I am bullish on Gold. I found a failed test of the the Pitchfork median line, which is a sign for me that sellers are not strong. The buyers showed some interest in past few days and we got strong demand bars in […]
As I expected, the GBP/USD pair traded higher and met my second yesterday’s target at the price of 1.3085. GBP/USD lost its bullish trend and went into the overbought condition on the Stochastic oscillator, which is a warning for buyers at this stage. The Pitchfork median line served as good resistance, and GBP found sellers […]
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 upwards from the level of 1.3299. Yesterday, the pair rose from the level of 1.3299 (the level of 1.3299 coincides with a ratio of 61.8% Fibonacci retracement) to a top around 1.3352. Today, the first support level is seen at 1.3299 followed by 1.3254, while daily resistance 1 […]
As we can see on the one-hour chart, wave ((i)) has arrived as a leading diagonal pattern, which led to an upward correction. After a few weeks of consolidation, wave ((ii)) ended as a zigzag with an ending diagonal in wave (c). A pullback from the upper side of this pattern turned out to a […]
USD/CAD is currently trading at the edge of 1.3350. The price is expected to climb higher in the coming days. Despite the ongoing government shutdown in the US and downbeat economic reports, USD has asserted strength over CAD recently. The pair is expected to lead to retain bullish momentum in the coming days. US economic […]
USD/CHF has been quite volatile and corrective at the edge of 0.9950 area recently from where it is expected to move lower in the coming days. Amid the government shutdown in the US and downbeat economic reports, USD is expected to extend weakness against CHF in the coming days. US economic growth is set to […]
Wave counting analysis: On Wednesday, January 23, trading ended for EUR / USD by 25 bp increase. According to Fibonacci, this growth including the unsuccessful attempts to break through the levels of 38.2% and 23.6%, suggest that the pair is ready to build a new upward wave, presumably 5, as part of the uptrend trend. […]
On Wednesday, as expected, the was moved up. Trend analysis (Fig. 1). On Thursday, up to % rates, the price will move down in the side channel. The first lower target 1.1346 is the support line (red thin line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – up; […]
Wave counting analysis: On January 23, the pair GBP / USD rose 110 bps. Thus, the current wave counting still involves the construction of an uptrend trend. But now, it is more complex in its internal structure. However, the wave pattern does not look quite convincing and may require add-ons. If you get important news […]
Trend analysis (Fig. 1). On Thursday, the trend work upwards with the first top target 1.3100 – a rolling level of 76.4% (yellow dotted line). Then lower work is possible. Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – up; – volumes – down; – candlestick analysis – down; […]
The rest of the currency market is relatively calm. EUR / USD is trading within the range of 1.1370 / 90; USD / JPY has edged up to 109.70. GBP / USD remains strong at 1.3060 due to the optimism that the risk of unordered Brexit can be ruled out. There is little activity on […]
GBP/USD On Wednesday, the British pound became the market driver. The Labour Party’s statement, on readiness to support the agreement with the EU in order to avoid withdrawing from the bloc without a deal, inspired investors with optimism. On the one hand, it is surprising why the opposition did not adhere to this position before […]
To open long positions on EURUSD you need: A good report on consumer confidence in the eurozone helped buyers to get above the range of 1.1376 yesterday, and as long as trade is conducted above this level, the demand for the euro will continue. The formation of a false breakdown in this area will be […]
EUR/USD has bounced off 1.1330 towards 1.14 but remains below it. This is not something bulls want to see. Bulls want to see price recapturing key resistance levels like 1.14. On the other hand the bearish short-term trend remains intact. Bears remain in control. Red dots – maximum strength 1 hour resistance Blue dots – […]
Although Gold price remains in an upward sloping channel, there is no sign from bulls that the pull back and correction from $1,300 is over. Bulls need to be very cautious at current levels and as long as price is below $1,292. Purple lines – bullish channel Green area- line in the sand for bullish […]
Technical outlook: We have presented the 4H chart view for NZD/USD with a simple probable wave structure, to have a short to medium-term directional outlook. As seen here, the recent boundary which is being worked out is between 0.6520 and 0.6850 levels respectively. The NZD/USD pair had dropped to the fibonacci 0.618 support of the […]
GBP/JPY has rallied nice of the 140.63 low and will ideally stay above minor support at 142.22 for a continuation higher to 143.94 and 146.10 as the next hurdles on the way towards the 161.8% extension target of wave i at 151.90. Key support has now move higher to 141.65 which should protect the downside […]
Technical outlook: Today we have presented a 4-hour chart view for EUR/USD and highlighted the recent boundary that is being worked upon, to have a short/medium-term outlook for the same. Please note that resistance is seen at 1.1625, followed by 1.1800/20 levels, while support is seen at 1.1270/80 followed by 1.1213 levels respectively. Also note […]
The longer EUR/JPY stays near short-term important resistance at 124.93 the higher the possibility for a push higher towards 126.59 as the next upside target on the way towards 132.12. Short-term only a dip back below 124.37 will again open up for a deeper correction in wave ii towards 123.37 and maybe even closer to […]
When the European market opens, some economic data will be released such as Main Refinancing Rate, Flash Services PMI, Flash Manufacturing PMI, German Flash Services PMI, German Flash Manufacturing PMI, French Flash Services PMI, and French Flash Manufacturing PMI. The US will also publish the economic data such as Crude Oil Inventories, Natural Gas Storage, […]
In Asia, Japan will release the Flash Manufacturing PMI and the US will publish some economic data such as Crude Oil Inventories, Natural Gas Storage, CB Leading Index m/m, Flash Services PMI, Flash Manufacturing PMI, and Unemployment Claims. So there is a probability the USD/JPY pair will move with a low to a medium volatility […]
The EUR/USD pair is approaching its resistance at 1.1424 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it is expected to reverse down to its support at 1.1373 (61.8% Fibonacci retracement, horizontal pullback support). Stochastic (55, 5, 3) is nearing its resistance at 95% where a corresponding reversal is anticipated. EUR/USD is approaching […]
The USD/JPY pair is approaching its support at 109.17 (61.8% & 100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 109.662 (61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is nearing its support at 6.8% where a corresponding bounce could occur. USD/JPY is […]
