The Governor of the Bank of Japan had his speech overnight. Kuroda said the market situation has improved somewhat since the last monetary policy adjustment that took place in July. The central bank is aware that a very loose policy affects the stability of the financial market. Commercial banks take on more risk than usual, […]
The British newspapers report that the British Prime Minister has succeeded in negotiating with representatives of the European Union. The United Kingdom is to remain in the customs union. Information, for now, comes from an undisclosed source. Northern Ireland will not be treated in any special way. This probably solves the problem of the hard […]
In an official statement, the Ukrainian government confirmed its plans to establish a legal framework for the legalization of cryptocurrencies. As part of an initiative to recognize crypts as a promising emerging technology, the Ministry of Economic Development and Trade in Ukraine has published a new state policy to supervise various sectors related to cryptocurrencies. […]
We are still looking for a final dip closer to the 1.7010 target from where a corrective rally towards 1.7560 before the next downside pressure sets in for the next decline towards 1.6653. Short-term minor resistance is seen at 1.7175. This minor resistance will ideally be able to cap the upside for the final dip […]
EUR/JPY continues to follow the expected path higher towards 130.20 and possibly even closer to the 61.8% corrective target near 130.65. Support is now seen at 128.57, which ideally will protect the downside for a break above minor resistance at 129.33 for the next rally towards the 130.20 target. However, it will take a break […]
When the European market opens, some economic data will be released such as the Sentix Investor Confidence and the Spanish Unemployment Change. The US will also release economic reports such as Loan Officer Survey, ISM Non-Manufacturing PMI, and Final Services PMI. So, amid the reports, EUR/USD will move in a low to medium volatility during […]
In Asia, Japan will release the BOJ Monetary Policy Meeting Minutes. At the same time, the US will also release some economic data such as Loan Officer Survey, ISM Non-Manufacturing PMI, and Final Services PMI. So, there is a probability the USD/JPY pair will move with low to medium volatility duringthis day. TODAY’S TECHNICAL LEVEL: […]
CADJPY is approaching its resistance at 86.67 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to the support at 85.76 (50% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected. CADJPY is approaching […]
The US labor market report (NFP) pointed to an increase in employment in October by 250,000, much more than the expected 200,000. September data has been revised down to 118,000 (from 134,000 previously) and both figures can be explained by disturbances caused by hurricanes. Traditionally, the main focus is on wage dynamics, which at 0.2% […]
Trading recommendations: According to the H1 time – frame, I found that buyers are in control today on BTC. I have also found the breakout of the supply trendline, which is a sign to watch for buying opportunities. My advice is to watch for opening buy deals with upward targets at the price of $6.344 […]
Recently, the AUD/USD pair has been trading upwards. The price tested the level of 0.7258. Anyway, according to the M15 time – frame, I found the buying climax (wide spread bar in a ultra-high volume) in the background, which is a sign that buying looks risky. I have also found that up-thrust bar and the […]
Recently, Gold has been trading upwards. The price tested the level of $1,236.94. According to the H4 time – frame, I found a broken supply trendline in the background and an upward movement, which is a sign that buyers are in control and that selling looks risky. The MACD oscillator is trading up, which is […]
Overview: Pivot point: 0.9951. The USD/CHF pair continues to move upwards from the level of 0.9951. Today, the first support level is currently seen at 0.9951, the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 0.9951, which coincides with the daily […]
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. On September 10, the price level of 1.1500 offered temporary bullish recovery. Quick bullish movement was demonstrated towards the upper limit of the price range (1.1750). However, the EUR/USD bulls failed […]
Overview: Pivot: 1.1422. The EUR/USD pair continues to move downwards from the areas of 1.1475 and 1.1422. Last week, the pair dropped from the level of 1.1475 to 1.1356. Today, resistance is seen at the levels of 1.1422 and 1.1475. So, we expect the price to set below the strong resistance at the levels of […]
Since September 13, 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 within the depicted H4 bearish channel to test […]
The corrective rally from 126.64 is developing as expected. We saw a wave rally from 126.64 to 128.54 and wave b dipped to 127.59 and wave c higher to 130.20 and maybe even closer to 130.64 is now unfolding. Support is now seen at 128.54 and will ideally protect the downside for the expected rally […]
When the European market opens, some economic data will be released such as Final Manufacturing PMI, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, Spanish Manufacturing PMI, French Gov Budget Balance, German Import Prices m/m. The US us due to present data on the labor market of major importance such as Unemployment […]
In Asia, Japan will release the Monetary Base y/y. The US is due to release a series of crucial economic reports such as Factory Orders m/m, Trade Balance, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So, there is a probability the USD/JPY pair will move with medium to high volatility during this […]
Technical outlook: The daily chart has been depicted here for understanding the larger picture for US Dollar Index. As seen here, the rally between 88.30 and 97.00/20 levels can be considered to be the first major swing. After this, the most probable outlook should be a counter-trend drop towards 93.00 levels as shown here. The […]
Technical outlook: A daily chart for EUR/USD has been depicted here for a larger picture of swings. As depicted here, the entire drop between 1.2500/50 through 1.1300 levels can be considered as a major down swing. The subsequent rally after that should be a corrective counter trend. The EUR/USD pair might be into its final […]
Gold price moved higher yesterday above $1,230. This is a bullish sign. Together with the bullish signs we showed yesterday in our analysis, Gold is ready to break out above $1,240 towards $1,260. Magenta rectangle -support area Gold price bounced off critical support and took back in one session what was lost in three. Wednesday’s […]
EUR/USD bounced today above short-term resistance at 1.1380 and reached the next important resistance at 1.1420. Trend remains bearish as long as price is below 1.1620. Red dots -maximum strength resistance Black dots – medium strength resistance Light blue dots – medium strength support If EUR/USD bulls manage to break above 1.1420-1.1430, then we should […]
Bitcoin has been quite impressive with recent bullish gains under overall extreme bearish pressure since it broke below $6,500. The price rebounded higher amid intense impulsive pressure which engulfed previous corrections and bearish momentum with ease. The price is currently residing above the dynamic levels like 20 EMA, Tenkan, and Kijun line while being inside […]
USD/CHF has been quite impressive with recent bullish gains. As a result, the price is holding above 1.00 area but currently moving lower with impulsive momentum. USD has been holding the upper hand over CHF. USD is picking up steam ahead of NFP. However, today’s CHF gains indicates volatility and counter trend momentum for the […]
Trading recommendations: According to the H1 time – frame, I found that BTC reached my downward taget at the price of $6.174. Anyway, the price rejected strongly after the test of support but we got another potential buying climax, which is a sign that buying around $6.270 looks risky. My advice is to watch for […]
On September 13, the depicted daily downtrend line which came to meet the pair around 1.3025-1.3090 failed to offer enough bearish pressure on the pair. Since then, the GBP/USD pair has been demonstrating a successful bullish breakout so far. On September 21, the GBP/USD failed to demonstrate sufficient bullish momentum above 1.3296. The short-term outlook […]
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. On October 10, a recent decline below 1.1520 found its way towards the price level of 1.1420. However, temporary bullish recovery around 1.1430 pushed the EUR/USD pair above 1.1520 until a […]
Recently, the GBP/USD pair has been upwards. As I expected, the price tested the level of 1.2919. According to the H1 time – frame, I have found a breakout of the 5-day downward channel, which is a sign that buyers are in control and that selling looks risky. I have also found a rising trendline […]
Recently, Gold has been trading sideways at the price of $1,224.20. Anyway, according to the H4 time – frame, I have found that price made a successful breakout of the well-defined resistance trendline (diagonal), which is a sign that buyers took control from the sellers. I also found the end of the downward correction (abc […]
