Wave counting analysis: On January 18, the GBP / USD pair dropped 110 bps. The unsuccessful attempt to break through the level of 76.4% warns about the completion of the construction of the rising wave with and, accordingly, the entire upward trend segment. Special clarity in the issue of Brexit did not appear. It is […]
Trend analysis (Fig. 1). On Monday, work upwards with the first top target of 1.2907 – a rolling level of 38.2% (yellow dashed line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis – down; – trend analysis – down; – […]
On Monday, the price will move up. The first upper target is 1.1414 – 21 middle EMA (black thin line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis – up; – trend analysis – up; – Bollinger lines – down; […]
Wave counting analysis: Bidding on Friday, January 18, ended for EUR / USD pair another 30 bp down. Therefore, the uptrend of the trend retains the prospects for its development, but takes the form of a diagonal triangle. On the other hand, the unsuccessful attempt to break through the level of 23.6% on the older […]
EUR/USD continued its move lower and reached 1.1353. Our past analysis explained that a break below 1.14-1.1380 would push prices towards 1.1320 and the longer-term upward sloping trend line support. Price continues to make lower lows and lower highs but we remain above the critical support area of 1.1320-1.13. Red rectangle- weekly resistance Black line […]
Gold price dropped last week 0.5% to $1,281 as risk on in equities and stronger Dollar brought sellers in the precious metal pushing prices lower. Technically we were expecting breakout to the upside, but we were also prepared for an exit in case the break out was to the downside. Green rectangles – support areas […]
There is a calm start of trading in the new week as the data on GDP from China fell as expected, not disturbing. The currency market is experiencing low volatility, stock exchanges are on a slight increase. China’s GDP in the fourth quarter increased by 6.4% y / y, which is a result in line […]
The Risig Wedge price parent that might have been in development between the levels of 1.3171 – 1.1400 has been invalidated. The reason was a very shallow rally towards the nearest technical resistance at the level of 1.1414 that was terminated by the Shooting Star candlestick pattern with a top at the level of 1.1400. […]
To open long positions on EURUSD you need: Weak data on the euro area and a good report on the volume of industrial production in the US once again put pressure on the EUR/USD pair . The first signal to buy the European currency today will be a breakdown and consolidation above the resistance level […]
Technical market overview: The breakout from the triangle formation has occurred during the weekend as anticipated. The market has broken below the triangle lower trendline at 119.00 and made a new local low at the level of 110.48, just above the technical support at the level of 108.46. From the Elliott Wave Principle approach, there […]
GBP/JPY is expected to move higher towards 151.90 as long as it holds above key support at 139.43. Ideally minor support at 140.71 will be able to protect the downside for a break above 141.22 and more importantly above resistance at 141.78 that confirms the next push higher towards 143.81 and 145.17 as the next […]
The price swing down to 118.72 completed wave (E) of the more than 10 years long triangle consolidation and we should now look for wave (C) towards 203.00 The question is whether wave ii completed already at 123.37 or a more complex correction in wave ii is unfolding and a second dip closer to 122.90 […]
EUR / USD pair Last week, the industrial output in the US came out positive. The December production increased by 0.3% and capacity utilization increased from 78.6% (revised from 78.5%) to 78.7%. The US stock market grew by 1.32% and the dollar strengthened by 0.30%. The euro moved out of consolidation on the four-hour downward […]
GBP / USD pair Increased investor optimism about new Brexit prospects was exhausted last Friday. A higher urgency on retail sales data for December showed a decline of -0.9% against expectations of -0.8%, resulted to a loss of 111 points in the sterling pound. On the four-hour chart, the price is trying to gain a […]
AUD / USD pair On Friday, the quotation of the Australian dollar crossed the support of the balance lines and MACD on the daily and four-hour charts. Marlin oscillator signal line on H4 is in the descent zone. It can also be noted that the price on both charts was kept by the indicator of […]
On Friday, the formation of the absorption pattern at the daily level. The pair went beyond the monthly short-circuit of January, which defines its priority direction as descending. A further decline in the pair is more likely, since the closure of the US session on Friday occurred below the NKZ 1/4 1.2904-1.2894. The main goal […]
On Friday, the pair formed a reversal pattern, which speaks in favor of continuing the downward movement. This happened after several tests of the monthly KZ of January. It is important to understand that the fall is corrective in the medium term. The close of the US Friday session was below the NCB 1/2 0.7174-0.7168. […]
Last week, the formation of a downward medium-term model continued. The closing of the week occurred just below the weekly CP 1.1386-1.1368, which indicates a high probability of a further decline. Downward movement has priority, so any growth must be used to search for favorable prices for the sale. The nearest resistance is NKZ 1/4 […]
The NZD/USD pair is approaching its support at 0.6714 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.6780 (50% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is nearing its support at 1.72% where a corresponding bounce is anticipated. NZD/USD is approaching […]
When the European market opens, only German PPI m/m will be released. 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 Level: 1.1430. Strong Resistance: 1.1423. Original Resistance: 1.1412. Inner Sell […]
Today, Japan and the US will not release 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: 110.20. Resistance. 2: 109.98. Resistance. 1: 109.77. Support. 1: 109.50. Support. 2: 109.29. Support. 3: 109.07. (Disclaimer) The material […]
Today, the yen became cheaper against the dollar after The Wall Street Journal reported that the US authorities are discussing the possible abolition of import duties on Chinese goods, although the US Treasury later denied this information. According to a number of experts, despite optimistic expectations regarding the resolution of trade disputes between Washington and […]
According to the newspaper The Wall Street Journal, the United States is considering the possibility of abandoning the protective duties previously imposed by Washington on the import of Chinese goods. The White House administration sees such a move as a way to calm global financial markets and encourage Beijing to make deeper and longer-term concessions […]
Weak statistics on the German economy and the mention of Mario Draghi of the word “recession” led the single European currency into the red zone for the week by January 18. And let the head of the ECB argued that the recession is not a question, we need to talk about a smooth landing, the […]
To open long positions on the GBP / USD pair, you need: Buyers missed the support level of 1.2963, and the main task for the second half of the day is to return to this range, which will allow forming the lower limit of the new ascending channel and count on the continued growth of […]
To open long positions on EUR / USD pair, you need: The weak fundamental statistics did not allow euro buyers to form a larger upward correction. It is important that the bulls manage to hold the EUR/USD pair above the support level of 1.1375. However, the main task is to return to the resistance level […]
The euro remained traded in a narrow side channel paired with the US dollar, but held its position after the release of the next weak fundamental statistics for the eurozone. The reduction in the positive balance of the current account of the eurozone’s balance of payments in November 2018 again indicates that the eurozone economy […]
Blue channel is based on the price movement of yesterday. Violet channel is based on the previous two-day consolidations. Yellow channel is based on the previous three-day consolidations. The recent bullish movement of the GBP/USD pair which started around 1.2700, has lost much of its bullish momentum since Wednesday. Lack of enough bullish momentum is […]
Despite the continued uncertainty around Brexit, the “shutdown” in the United States and the prospect of slowing down the process of raising the Fed’s interest rate, the gold exchange rate has not yet been able to overcome the $1,300 mark. Against the background of the emergence of contradictory news regarding these events, gold market participants […]
The pound has entered again the zone of uncertainty on the eve of the most important negotiations between London and Brussels and the subsequent vote in the House of Commons. For two and a half years from the moment of the historic referendum, the British currency has repeatedly experienced strong volatility, which as a rule, […]
