Trading recommendations: According to the H1 time – frame, I found that Bitcoin might finish that current downward correction (abc flat) near the level of $6.565. The level of $6.555 is a strong support because it is also the swing high from the background. Be careful when selling Bitocin at this stage. My advice is […]
Recently, the USD/CAD pair has been trading downwards. The price tested the level of 1.2884. Anyway, according to the H4 time – frame, I found that price rejected from the strong support at the price of 1.2887 (bottom of the channel and previous swing low), which is a sign that selling at this stage looks […]
Overview: The GBP/USD pair continues moving in a bullish trend from the support levels of 1.3052 and 1.3159. Currently, the price is in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. As the price is still above the moving average (100), immediate support […]
Overview: Pivot point : 0.7267. The AUD/USD pair will be probably continue to rise from the level of 0.7233 in the long term. It should be noted that the support is established at the level of 0.7233 which represents the 50% Fibonacci retracement level on the H4 chart. The price is likely to form a […]
Burning Forecast 09/24/2018 EURUSD: The signal for growth has not been cancelled. On Monday morning, the euro is in correction to the previous growth. Growth is not cancelled. The main event of the week – today the US will introduce new duties against China for $200 billion. On Wednesday, the Federal Reserve’s decision. We keep […]
Trading plan 24.09.2018 Overall picture: week of important news. On Wednesday, the Federal Reserve’s decision on rates – we expect an increase of +0.25%, but most importantly – the text of statement of the Fed. On Monday, new US duties against China come into effect for $200 billion – and probably, China’s retaliatory tariffs of […]
Gold price got rejected at the $1,210 resistance and broke below $1,200. We warned last week that prices were testing the important upper channel and previous highs at $1,211 and the danger of a rejection was high. The rejection and the break below $1,200 was a very bearish sign. Red line – resistance trend line […]
EUR/USD as expected by our last analysis is pulling back for a back test of the break out area. Holding above 1.17 will be critical for the medium-term trend. A false break out and a move below 1.1670-1.1680 will be a very bearish sign. Blue lines – support trend lines EUR/USD is pulling back towards […]
According to Ewald Nowotny, the European economy is in very good condition, and monetary policy is not keeping up with it, it is still in the mode of deep crisis. In the euro area as a whole, price stability has been achieved. In the current situation, policy normalization seems to be the best solution and […]
Several large Russian banks have expressed their strong interest in cooperating with the cryptocurrency industry and Blockchain during a closed-door meeting held at the Moscow Stock Exchange. Demand for cryptocurrencies in Russia is very high, but banks are unable to meet this demand due to the lack of clearly defined provisions. For this reason, representatives […]
USD/CHF is testing its resistance at 0.9604 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.9554 (horizontal swing low support) is expected. Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding drop is expected. USD/CHF is testing its resistance where we expect to […]
NZD/USD is approaching its resistance at 0.6717 (100% Fibonacci extension, 38.2%, 61.8%, 23.6% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.6635 (38.2% Fibonacci retracement, horizontal overlap support) is expected. NZD/USD is testing its resistance where we expect to see a reversal. Sell below 0.6717. Stop loss at 0.6765. Take profit […]
EUR/NZD should stay above the peak of red wave i at 1.7488 for the next impulsive rally towards 1.8031. If an unexpected break below 1.7488 is seen, the we will have to make a recount of the rally from 1.6534 and count the rally as a series of waves ones and twos. This is not […]
EUR/JPY has rallied nicely and is well underway towards 134.07 and above towards the 136.06 – 136.50 zone. In the short-term, we expect support near 131.99 to be able to protect the downside for the next push higher towards 134.07. Support at 131.99 should be broken then a dip closer to 131.53 max will appear. […]
When the European market opens, some economic data will be released such as German Ifo Business Climate and Belgian NBB Business Climate. The economic calendar for the US is empty today. So amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.1807. Strong Resistance:1.1800. […]
Today, both Japan and the US will not release any economic data. So there is a probability the USD/JPY pair will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance. 3: 113.20. Resistance. 2: 112.98. Resistance. 1: 112.76. Support. 1: 112.49. Support. 2: 112.27. Support. 3: 112.05. Disclaimer: Trading Forex (foreign […]
EUR/USD has been quite impulsive with the recent bullish gains which lead the price to reside at the edge of 1.1750 after certain bearish retracement on Friday. USD struggle has been extended further which might lead to further bullish momentum in the pair leading to a continuation of bullish pressure in the process. This week […]
Statistics Canada reports that the Canadian Retail Sales in July are growing by 0.3% in monthly terms to the level of $ 50.9 billion due to higher sales of food, beverages and fuels. Market measurements that exclude the most volatile components of sales turned out to be much more important for the market. In this […]
Yesterday, the implementation of the priority upward model that allowed the pair to gain a foothold above the determining level of resistance at 1.1707. Any depreciation should be regarded as a correction. Strong growth during the Thursday European and American sessions allowed us to step out of the medium-term accumulation zone. Closure of the American […]
Yesterday’s growth led to the test of two important target zones. The weekly control zone of 1.3312-1.3288 was reached, located within the monthly CP of September. This fact significantly increases the likelihood of a large offer. Finding the price within the monthly CP indicates the need to close all purchases. The first support is the […]
Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1802. Anyway, according to the M30 time – frame, I found the fake breakout of yesterday’s high at the price of 1.1784, which is a sign of weakness. I also found a hidden bearish divergence on the MACD oscillator, which is […]
The September meeting of the Swiss Central Bank passed quietly and imperceptibly. The summit in Salzburg, US-China relations and events on the oil market overshadowed the meeting of the members of the Swiss regulator. Traders did not expect any unexpected moves from the SNB, and their expectations were fully justified. The central bank repeated the […]
Recently, Gold has been trading sideways at the price of $1,205.30. Anyway, according to the H1 time – frame, I found potential ending of the upward correction (abc flat) in the background, which is a sign that buying looks risky. I also found the breakout of the most recent support trendline, which is another sign […]
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, the price level of 1.1500 offered temporary bullish recovery towards 1.1830. The EUR/USD bulls failed to pursue towards higher bullish targets. Instead, a descending high was established around 1.1800. On […]
Previously, The GBP/USD pair was testing the depicted downtrend line which came to meet the pair around 1.3025-1.3090. This week, the pair has been demonstrating a successful bullish breakout so far. This price zone (1.3025-1.3090) also corresponds to 50% and 61.8% Fibonacci levels. Currently, this price zone turned to become a prominent demand zone to […]
Hence, the market is indicating a bearish opportunity below 1.2969 so it will be good to sell at 1.2969 with the first target of 0.9965. It will also call for a downtrend in order to continue towards 1.2796. The daily strong support is seen at 1.2796. On the other hand, the stop loss should always […]
Overview: On the one-hour chart, the GBP/USD pair continues moving in a bullish trend from the support levels of 1.3052 and 1.3159. Currently, the price is in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. As the price is still above the moving […]
To open long positions for EUR / USD, you need: Yesterday’s breakthrough of large resistance has led to new highs, but today, it is necessary to act with caution. Only a breakout and consolidation above the resistance level of 1.1788 will lead to a new upward wave with the aim of testing a maximum of […]
GBP / USD The British pound, like last week, became the pioneer in the growth of counter-dollar currencies. Formally, the growth of the pound by 125 points occurred on data on the increase in retail sales in August by 0.3% against the forecast of -0.2%, as well as on some of the worst data for […]
Dollar weakness yesterday helped Gold rise towards its August highs and major short-term resistance and upper channel boundary. Longer-term trend remains bearish. Gold price is at major short-term resistance. Red line – resistance Blue line – short-term support Green lines – bearish channel Gold price is trading near short-term resistance at $1,210. Here we also […]
