GBP / USD Yesterday’s trading range for the British pound with almost 190 points was due to the current strong news in relation to the views between Prime Minister Theresa May and the Cabinet of Ministers under the Brexit agreement. But in the end, the ministers approved the deal and the pound sterling closed the […]
EUR / USD The focus of investors on Wednesday was drawn to the process of accepting Brexit conditions by the British Cabinet. It’s successful completion has strengthened the euro by 20 points. EU negotiator M. Barnier further mitigated the situation with assurances about the possibility of extending the transitional period after Brexit. Eurozone GDP for […]
Yesterday, an important resistance zone was tested, which allows us to consider the formation of a reversal pattern. A downward movement will be considered complete if the close of today’s trading is higher than the opening. Yesterday, the pair tested the defining zone of resistance of NKZ 1/2 1.1316-1.1307. Today, there is an attempt to […]
NZD/USD is approaching its resistance at 0.6824 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 0.6769 (50% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected. NZD/USD is approaching its […]
CAD/JPY is approaching its support at 85.66 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where price is expected to bounce up to its resistance at 86.23 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (89, 5, 3) is testing its support at 4.5% where a corresponding bounce is expected. […]
When the European market opens, Trade Balance is due in the eurozone. The US will release a series of economic data too such as Crude Oil Inventories, Natural Gas Storage, Business Inventories m/m, Unemployment Claims, Import Prices m/m, Philly Fed Manufacturing Index, Empire State Manufacturing Index, Retail Sales m/m, and Core Retail Sales m/m. So, […]
In Asia, Japan today will not release any economic data. However, the US will release a series of economic reports such as Crude Oil Inventories, Natural Gas Storage, Business Inventories m/m, Unemployment Claims, Import Prices m/m, Philly Fed Manufacturing Index, Empire State Manufacturing Index, Retail Sales m/m, and Core Retail Sales m/m. So, there is […]
So, the Brexit issue reaches its climax – today the British Cabinet can agree on a draft agreement with Brussels. Yesterday it was reported that the representatives of Britain and the European Union agreed on the preliminary text of the deal, after which some ministers of Great Britain got acquainted with it. Moreover, prime minister […]
Gold marked the worst weekly dynamics in the last three months after the US dollar withstood the test of the midterm elections in the United States, the Federal Reserve confirmed its intention to continue the cycle of normalizing monetary policy, and producer prices in fact were better than expectations from Bloomberg experts. Acceleration of inflation […]
According to a published report by the International Energy Agency (IEA), US oil production will increase dramatically in 2018 and 2019. IEA experts expect that this year, oil production growth will be 2.1 million barrels per day, the previous forecast assumed an increase of 1.85 million barrels. At the same time next year, growth will […]
According to expert estimates, over the past quarter century, the cost of 1 ounce of silver relative to 1 ounce of gold has dropped to its minimum values. Experts are trying to figure out whether this dynamic is a precursor of fundamental changes in the market. In the process of a general slowdown in the […]
The European currency fell in the first half of the day against the US dollar, as well as the British pound, which yesterday rose rapidly on the news on Brexit. In the morning review, I spoke in more detail about the preliminary agreement that was reached yesterday during the negotiations. Germany’s economy as another reason […]
Last Tuesday was one of the worst days for the oil market over the past year. Yesterday, for the first time since March, the cost of Brent black gold slipped below $ 65 a barrel, while WTI crude reached an annual minimum of less than $ 55 a barrel. The formal reason for the collapse […]
Since September, the GBP/USD pair has been demonstrating a successful bullish breakout above the depicted daily downtrend line which came to meet the pair around 1.3025-1.3090. On September 21, the GBP/USD failed to demonstrate sufficient bullish momentum above 1.3296. The short-term outlook turned to become bearish to test the backside of the broken uptrend. On […]
To open long positions on the GBP / USD pair, you need: The growth of the pound will be only under the condition that the Cabinet of Ministers of the United Kingdom approves the plan of the preliminary agreement to which the negotiators arrived yesterday. Any news will be actively worked out by the market. […]
To open long positions on EUR / USD pair, you need: Weak data on the eurozone’s growth of GDP in the 3rd quarter of this year led to a slight downward correction in EUR / USD in the first half of the day. At the moment, it is possible to count on long positions after […]
In the third quarter, the German economy declined for the first time since 2015. Global trade conflicts have adversely affected exports, the traditional growth mechanism of Europe’s largest economy, causing concern that stable growth over the past decade has not been sustainable today. The Federal Statistical Office reported that in the third quarter, GDP declined […]
According to some experts, if the United Kingdom succeeds in reaching an agreement with the European Union on the country’s withdrawal from the alliance, the GBP / USD pair will rise to 1.40. “The pound is now undervalued due to the risk of Brexit. We believe that in the future, the British currency may well […]
Wave pattern on the H4 chart: The direction of the short-term trend of the pound major pair sets the rising wave of August 15. It has a flat character of movement in the form of a standard plane. Wave pattern on the H1 chart: The bearish section of the schedule on September 20 is fully […]
The euro and the pound rose after the good news that the negotiators from the UK and the EU had reached a preliminary agreement on Brexit. Let me remind you that all the attention of traders and investors yesterday was focused on the decision on Brexit, as well as on the failure of the Italian […]
Today, the euro and the pound have gone up, as investor confidence in these currencies has increased due to the fact that the United Kingdom partially coordinated the draft divorce agreement with the European Union after more than one year of negotiations. The surge in the growth of the euro and pound helped investors to […]
Wave pattern on the H4 chart: The main trend of the franc major pair is given by the rising wave since the beginning of the year. The scale of which is close to the daily one. The wave sections formed the first 2 parts (A-B) on the H4 chart. Wave pattern on the H1 chart: […]
On Tuesday, the price moves up, testing the rolling level of 61.8% at 1.3042 (blue dashed line). On Wednesday, a strong calendar news is expected at 8.30 and 12.30 London time. There will most likely be a downward lateral movement. Trend analysis (Fig. 1). On Wednesday, the price will move downwards with the first goal […]
On Tuesday, the price moved upwards into a pullback, showing that the support line 1.1270 (blue thick line) was pierced down by inertia. The market closed above the support line, pointing to a false breakdown. Today, the price will once again try to break through the support line. Today, a strong news is expected at […]
On the weekly chart, the EUR/USD pair is demonstrating a high-probability Head and Shoulders reversal pattern where the right shoulder is currently in progress. Recently, temporary bullish recovery was demonstrated around 1.1300. Hence, another bullish pullback was executed towards 1.1499 (the upper limit of the supply zone) where another descending high was established. As for […]
Of course, the dollar rebound suggested itself but what a pound did yesterday was very surprising. At the same time, there were no macroeconomic reasons for such a substantial increase in the pound. As expected, the growth rate of average wages with premiums, accelerated from 2.8% to 3.0% and in addition to this, the growth […]
On Thursday, November 15, the Fed will once again redeem the bonds from its balance sheet without subsequent refinancing, which will lead to another sharp reduction in the balance sheet and, as a result, liquidity reduction. Usually, on such days, the dollar is adjusted higher, most often against commodity currencies, a little less pronounced, against […]
Wave counting analysis: During the November 13 trading session, the GBP / USD currency pair gained about 120 basis points. Thus, the likelihood that the descending wave b within the 3-wave upward structure is completed increases. If this is true, then the increase in quotations will continue with targets located near the 100.0% of the […]
Wave counting analysis: In the course of trading on Tuesday, the EUR / USD currency pair gained about 80 basis points. Thus, there are reasons to assume the completion of the construction of the expected wave 5 of the downward trend section. It should be clarified that wave 5 can take the 5th wave view […]
Overview: Pivot: 0.6779. The NZD/USD pair continues to move upwards from the level of 0.6696. The pair rose from the level of 0.6696 to a top around 0.6779. Today, the first resistance level is seen at 0.6823 followed by 0.6867, while the daily support 1 is seen at 0.6696 (last bearish wave). According to the […]
