Trading plan for 09/01/2019: The stock market in Asia is green. Shanghai Composite is growing 0.8 percent today and Hang Seng is gaining 2 percent. In Japan, Nkkei225 gained 1.1 percent.The currency market shows clear signs of risk appetite. They gain the following currencies: NZD, CAD, NOK. Safe currencies do not perform well: USD, CHF […]
The EURUSD rate continues its close consolidation under the upper limit (1.1500) of the long range. A break above 1.1500 and consolidation there will start a strong movement with a potential up to 1.2000. Among the fundamental reasons: the slowdown in the US and the problems of Trump Congress – and as a consequence of […]
Gold price is sliding lower but in a slow move. Trend remains bullish but as we explained in previous posts, it was time for a healthy pull back towards $1,270. I continue to expect Gold price to move towards the lower channel boundary but overall I do not think the up trend is over. Green […]
EUR/USD continues to trade above 1.14 but also below the major resistance area of 1.1475. Medium-term trend remains neutral as price is still inside the trading range of the last two months. Short-term trend is bullish as long as price holds above 1.14. Green line – major trend line support Red dots – maximum strength […]
The militant leader of the Maltese opposition, Adrian Delia, faced strong opposition to his criticism of the government’s pro-cryptocurrency attitude. Delia’s comments have been reported by the national newspaper. Malta, whose president Joseph Muscat regularly praises both cryptocurrencies and Blockchain technology, strives to make Malta a “Blockchain island”. Despite signing many contracts and willingly accepting […]
In the official Ethereum blog entry, the Ethereum Foundation has announced a $ 5-million subsidy to Parity Technologies based in the United Kingdom. According to the post, the subsidy is intended for scalability, usability, and security. Namely, this money “will finance Parity’s work on Casper, sharding, light clients, programming tools, quality control, audits, and infrastructure […]
EUR/JPY has been quite volatile and impulsive with the recent bearish momentum. The price bounced off the 119.00 area recently and is currently hovering at the edge of 125.00 area. JPY is backed by strong fundamentals while EUR is struggling for gains. This may lead to further bearish momentum despite the recent bullish pressure amid […]
GBP/USD Over the past 24 hours, the situation on the pound practically did not change, only the probability of the price passing below the support zone of 1.2690-1.2700, formed by the trend line of the price channel on the daily chart and the Krusenstern indicator line on the four-hour chart, only slightly increased. Investors’ attention, […]
We continue to expect the EUR/JPY pair to move above the resistance at 124.86 for a continuation higher to 127.09 in order to complete the wave i. In the short term, we expect that support at 124.32 – 124.09 will be able to protect the downside for the expected break above 124.86 and for more […]
When the European market opens, some economic data will be released such as German 10-y Bond Auction, Unemployment Rate, Italian Monthly Unemployment Rate, and German Trade Balance. The US will also publish the economic data such as 10-y Bond Auction, and Crude Oil Inventories, so amid the reports, the EUR/USD pair will move in a […]
In Asia, Japan will release the Average Cash Earnings y/y and the US will publish some economic data such as 10-y Bond Auction, and Crude Oil Inventories. So there is a probability that the USD/JPY pair will move with a low to a medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 109.46. Resistance. […]
The European currency made an unsuccessful attempt to grow in the first half of the day, and after the release of data on industrial production in Germany, the EURUSD pair returned to the low of the day, where it was trading at the time of writing. Weak data on the consumer confidence indicator, which remained […]
EURUSD continues to consolidate under the upper limit of the range – 1.1500. This technically indicates a more likely breakout upwards – and the beginning of the trend up. Fundamentally, the European currency is waiting for a signal from the Parliament of Britain, where the final act of the never-ending series of Brexit will take […]
4-hour timeframe The amplitude of the last 5 days (high-low): 44p – 172p – 102p – 73p – 87p. Average amplitude for the last 5 days: 96p (99p). The EUR/USD currency pair on Tuesday, January 8, was in calm trading with a downward trend. Daily volatility does not exceed 50 points, which is quite logical, […]
To open long positions on GBP/USD, it is required: While trading is above the support of 1.2753, buyers of the British pound still have a chance to continue the upward trend, but this requires a breakout and consolidation above the resistance of 1.2798, which will open the way to new monthly highs in the area […]
To open long positions on EURUSD you need: Just terrible data on industrial production in Germany did not confuse euro buyers, and after another test of support at 1.1435, demand resumed. The bulls still need a breakthrough of resistance at 1.1465, which will open a direct path to the high of December last year in […]
The American company Amazon, the world’s largest online platform for the sale of consumer goods and services, topped the ranking of the most expensive companies in the world at the beginning of the year, beating Microsoft at a price. On January 7, 2019, Amazon’s market capitalization exceeded $ 796 billion. Microsoft ranked second ($ 789 […]
According to official sources in OPEC, Saudi Arabia’s new budget has been drawn up at the rate of $ 95 per barrel of oil. However, the Saudi authorities will be happy and $ 80 – $ 85, in this case, no longer have to use financial reserves. To cover the estimated costs, the Saudis intend […]
The cost of oil continues to rise amid a recovery in stock markets. Positive on the markets brought the beginning of trade negotiations between the United States and China in Beijing. Foreign Ministry spokesman Lu Kang said that the Chinese authorities are hoping for mutual respect in resolving trade contradictions. As a result, stock exchanges […]
Experts of the British audit and consulting company Ernst & Young (EY) calculated that While waiting for the UK to leave the EU, financial companies withdrew about 800 billion pounds sterling worth more than $1 trillion from the country. The EY analysts investigated public statements of 222 of the largest participants in the UK financial […]
The data of the European Commission showed that business sentiment in the eurozone deteriorated markedly, which was a new sign of the weakness of the bloc’s economy. this was the end of the year in December when optimism fell every month. More gloomy expectations have partly reflected a decline in confidence in industrial production. For […]
Since mid-November, Successive Lower Highs were demonstrated around the price levels of 1.3060, 1.2920 and 1.2800 maintaining movement within the depicted H4 bearish channel Shortly after, a quick bearish decline was demonstrated towards the price level of 1.2500 before bullish recovery could take place on December 12. A bullish Head & Shoulders pattern was demonstrated […]
Bitcoin has been correcting itself in a downward sloping Channel-based structure which made the price to retrace towards $4,000 area before pushing higher. The price recently bounced off the Kumo Cloud support while also being held by the dynamic levels like 20 EMA, Tenkan, and Kijun line as support. The Chikou span is currently breaking […]
GBP/USD recently jumped impulsively higher above 1.2700-50 resistance area, engulfing the previous bearish pressure in the process. The BREXIT deal is still quite uncertain. USD is struggling for gains amid the recent economic reports. Thus, temporary weakness of USD enabled GBP to gain certain momentum. Ahead of BREXIT, assets worth $1 trilling (800 billion pounds) […]
By consolidating in a 200-point-wide channel for most of the past two months, the main currency pair is preparing to break the mark of 1.15. Traders were delighted with the sharp recovery of retail in Germany and the Euroblock, but the production sector is still not in the best condition. In November, orders for manufactured […]
On the weekly chart, the EUR/USD pair is demonstrating a long-term Head and Shoulders reversal pattern where the right shoulder is currently in progress. On the Daily chart, the pair has been moving sideways with slight bearish tendency. Narrow sideway consolidations have been maintained within the depicted daily movement channel since June 2018. On November […]
USD/JPY has been quite impulsive amid the bearish pressure recently which pushed the price towards 104.50 support area from where strong bullish pressure pushed the price above 108.50. After the recent rate hike in the US, employment reports were not quite as expected which enabled the US currency to lose ground against JPY. Ahead of […]
Trading recommendations: According to the 30M time – frame, I found that BTC broke the bullish flag patten in the background, which is a sign that buyers are in control. I have also found a strong impulsive move in the background, which is another sign of strength. My advice is to watch for buying opportunities. […]
If the fourth quarter and the whole of 2018 were the worst for black gold from October-December 2014 and from 2015, respectively, then the beginning of the new year Brent and WTI started for health. Market faith in the favorable impact on the prices of the OPEC production cuts and optimism regarding the US-China trade […]
Recently, the GBP/USD pair has been trading sideways at the price of 1.2750. According to the M15 time – frame, I have found that GBP/USD is in a compression mode, which is a sign that there is a potential change from bullish to bearish. I have also found a hidden bearish divergence on the the […]
