The euro continues to be under pressure amid weak fundamental data for the eurozone. The US dollar, on the contrary, enjoys demand in times of uncertainty, since the prospects are clearer. Most likely, the US Federal Reserve will continue to raise interest rates on the background of good macroeconomic statistics, which has recently delighted traders. […]
Trend analysis (Fig. 1). On Wednesday, the downward trend is expected to continue with the first goal, the lower fractal of 1.1337 and further down to the support line of 1.1269 (blue thin line). Fig. 1 (daily schedule). Comprehensive analysis: – Indicator analysis – up; – Fibonacci levels – neutral; – Volumes – down; – […]
USD / JPY We had little hope for the growth of the Japanese currency. Yesterday, the yen made a feat, with the support of the stock market, the yen broke out over strong technical resistances and this morning, it made the actual consolidation over all the graphics and indicator lines on a daily scale. Also, […]
GBP / USD pair On Tuesday, the British pound lost 85 points due to the general strengthening of the dollar with optimism in the stock markets. The S & P500 grew by 1.57% and the dollar index by 0.32%. The balance of retail sales in the UK from CBI in October collapsed from 23 to […]
EUR / USD pair On Tuesday, the technical background to the euro decline was supported by economic data. The GDP of the euro area was only 0.2% for the 3rd quarter against the forecast of 0.4%. The US consumer confidence index from the Conference Board in October grew from 135.3 to 137.9 while the forecast […]
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 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 […]
To open long positions on EUR/USD pair, you need: The weak report on the eurozone’s GDP was hurt yesterday by the euro and can add “fuel to the fire” today due to the increase in inflation data. The decline will lead to the fall of the euro. You can count on euro purchases only when […]
To open long positions on the GBP / USD pair, you need: There’s nothing buyers can do change the situation on the market. Today, it is possible to expect an upward correction on the pound in the case of a false breakdown in the support area of 1.2697 or after a breakout and consolidation above […]
Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,215.00 and reached my yesterday’s target. Anyway, according to the H4 time – frame, I have found that key support ($1,215.00) in on the test and that Gold got trouble to break it, which is a sign that selling at […]
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2747. According to the H1 time – frame, I have found the bullish breakout of the 11-hour balance, which is a sign that buyers are in control today. I have also found that price broke the most recent resistance trendline, which […]
Overview: Pivot point: 0.7107 The AUD/USD pair faced resistance at the level of 0.7146, while minor resistance is seen at 0.7107 (Pivot point). Support is found at the levels of 0.7043 and 0.6980. Also, it should be noted that a daily pivot point has already set at the level of 0.7107. Equally important, the AUD/USD […]
Overview: 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 pivot point. This […]
At the end of the month, the Asian stock market is trying to get out of the 20-month lows, taking clues from Wall Street, where indexes have gained 1.4-1.8%. Chinese Shanghai Composite is growing 1.2% and Japanese Nikkei225 gaining 2.2%. The PMI index for the Chinese industry in October fell to 50.2 from 50.8 in […]
We have seen the expected dip closer to support in the 1.7290 – 1.7300 zone (the low has been seen at 1.7267). Short-term a break above minor resistance at 1.7333 will be the first good indication that the corrective decline in red wave ii/ has completed and red wave iii/ is ready to take over […]
EUR/JPY continues to push higher as wave B is evolving. We will not be surprised to see a minor set-back to support near 127.84 and maybe even closer to the 61.8% corrective target near 127.34 before the next rally higher towards 129.22 and 130.20. A break below minor support near 128.18 will indicate a short-term […]
Wave pattern of the H4 chart: The last completed wave construction of H4 timeframe took the place of correction in the upward wave of the daily scale. Wave pattern of the H1 chart: The bullish wave of September 21 will eventually move to a larger scale of movement. Given the place of the wave (C) […]
Wave pattern of the H4 chart: From mid-April, an upward wave is formed on the graph. The first part of the movement (A) is formed. A correction (B) has developed in recent months. Wave pattern of the H1 chart: In the wave structure from the end of August, the middle part of the bearish zigzag […]
Recent events unfolding in German politics can have a huge impact on the entire eurozone. The single currency has almost no chance of strengthening. German Chancellor Angela Merkel, who was associated all these years with a stronghold of stability in the region, upset the “bulls” of the euro. The currency may end this October at […]
The European currency continues its decline against a number of world currencies, as well as the British pound in trading on Tuesday, October 30. Confidence in the euro and the eurozone is decreasing more and more. This is evidenced by today’s report from the company Sentix, which we will talk about below. Fundamental data As […]
Futures for the North Sea variety lost about 9% of its value in October against the backdrop of an increase in production by the largest producers, fears of a slowdown in global demand and “bearish” news from the United States. In a market where an imbalance of 1-2% of global consumption is able to change […]
Despite the tightening of monetary policy and the “hawkish” rhetoric of the head of the Bank of Canada, the loonie continues to stay above the 30th figure. By and large, the Canadian dollar is stuck in a wide-range flat — the upward momentum has faded, and there are not enough arguments for the downward movement. […]
The European currency and the British pound continued to trade in a narrow sideways range on Monday. The euro’s rising potential was limited by news that German Chancellor Angela Merkel has announced the end of her political career. The pound also did not show much activity, gradually falling to monthly lows, as traders expect the […]
According to analysts of the American investment company State Street Global Advisors, at present, the gold market shows only signs of recovery, therefore it is still premature to talk about the full-fledged rise in prices for precious metals. “Recently, the period in which the demand for gold, as a rule, is low, has ended. However, […]
According to the European statistical agency Eurostat, eurozone GDP growth in the third quarter of 2018 unexpectedly slowed to a minimum over the last 4 years. Economic growth was 0.2% in quarterly terms and 1.7% in annual terms. Experts predicted GDP growth of 0.4% and 1.9%, respectively. Indicators for the II quarter were recorded at […]
The Democratic Party is associated with investors with a cheaper dollar, low bond yields, and a weak equity market. Therefore, with the Democrats winning the November 6 midterm elections, the dollar is likely to go down. In addition, the stronger the gap with the Republicans, the brighter these factors will manifest themselves. According to market […]
According to analysts of the Dutch ING Bank, last week, the mood of the Bank of Canada at the end of the next meeting turned out to be more “hawkish” than previously expected. “However, if the positive news in the field of monetary policy has already been taken into account in the Canadian currency, the […]
To open long positions on EUR / USD, you need: Buyers gave up the morning standoff, which I talked about in detail here. Weak data on the growth of the eurozone economy, released in the morning, put pressure on the euro. At the moment, it is possible to count on long positions in euros after […]
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 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 […]
