Excitement goes on sale in the first hours on Wednesday. USD initially lost, although in the last few minutes it regains vigor. The flat closure of Wall Street has given tone to the trade in Asia. Crude oil falls slightly after weaker data on China’s imports. In general, markets remain in tight zones. EUR/USD trades […]
Wave summary: EUR/NZD is currently correcting the rally from 1.6298 and as long as minor resistance at 1.6790 and more importantly as long as resistance at 1.6890 is able to cap the upside, we continue to look for a little more downside pressure towards 1.6545 before completing this corrective decline and turning prices higher in […]
Wave summary: We need a break below important support at 131.60 to confirm that wave (D) completed with the test of 134.49 and wave (E) lower to 123.43 is developing. As long as the support at 131.60 is able to protect the downside, we need to allow for a sideways consolidation, that ideally will stay […]
Trading plan 08.11.2017 GBP: Getting ready to play out of the consolidation. The general picture: the strong data released last week could not start the trend movement – the main pairs are being hammered in the bands for two days – euro, pound, yen are stuck, and the franc has stopped. The situation is complicated […]
USD/CHF is under pressure and expected to trade in a lower range. The pair is under pressure below the key resistance at 1.0015, which should limit the upside potential. The relative strength index is below its neutrality level at 50, calling for a drop. The U.S. dollar strengthened against other major currencies as investors are […]
EURUSD: We are waiting for an exit from the range and strong movement. There is a lull in the market: there is no important news (and there is nothing expected until the middle of next week), there is no strong bias towards buying or selling. As a result, European currencies are trading in narrow ranges. […]
Technical outlook: EUR/USD 4H chart has been presented here with the most probable wave count, to get the medium term outlook for the pair. Looking at the developments here, the pair seems to be either forming a leading diagonal pattern from the top at 1.2092 levels or a double zigzag (not labelled here as an […]
GBP/JPY is under pressure and expected to trade in a lower range. The pair is still below its horizontal resistance at 150.30, which should maintain the strong selling pressure on the prices. A falling trend line also acts as a resistance role, and should continue to push the prices lower. The relative strength index is […]
NZD/USD is expected to trade with a bearish outlook as the key resistance is at 0.6925. Despite the recent rebound from 0.6890 (the low of November 7), the pair is capped by a declining 50-period moving average. The upward potential is likely to be limited by the resistance at 0.6950. To sum up, as long […]
EUR/USD: The EUR/USD is moving downwards gradually, while the overall bias on the market is bearish. Price is now below the resistance line at 1.1600, going towards the support line at 1.1550. There is a Bearish Confirmation Pattern in the 4-hour char and further downwards movement is a possibility. USD/CHF: The USD/CHF has not moved […]
When the European market opens, some Economic Data will be released, such as French Trade Balance. The US will release the Economic Data, too, such as 10-y Bond Auction and Crude Oil Inventories, so, amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Breakout BUY Level: […]
In Asia, Japan will release the Leading Indicators data, and the US will release some Economic Data, such as 10-y Bond Auction and Crude Oil Inventories. So, there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 114.33. Resistance. 2: 114.11. Resistance. 1: 113.88. […]
The price has started to form a nice bullish configuration. We look to buy above major support at 1.3120 (Fibonacci retracement, horizontal overlap support) for a push up to at least 1.3236 resistance (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance). Stochastic (34,3,1) is bouncing above 3% support and has good upside potential. Buy above 1.3120. […]
The price has now formed an even stronger bullish reversal signal with our bullish divergence. We remain bullish looking to buy on dips above 0.7628 major support (Fibonacci extension, horizontal swing low support, Long-term Fibonacci retracement, bullish divergence) for a push up to at least 0.7730 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,3,1) is […]
The growth of geopolitical tensions in the Middle East has become a catalyst for the rise of oil prices to its highest in 2.5 years. From the level of June lows, Brent added about 40% against the backdrop of information about mass sweeps in Saudi Arabia and the ballistic missile from Yemen that reached Riyadh. […]
Bitcoin has been quite corrective and bearish recently which has led the price to fall back towards $7,000 support area. The trend has been non-volatile and most of the fundamental news has been in favor of Bitcoin which has supported the price to gain further. The pullback towards $7,000 support area has been a widely […]
The pair has started the week with a consolidation above the support zone of 1.3037. Here it could gather momentum in order to extend the recovery towards the 200 SMA on H1 chart. However, we expecting the support zone of 1.3037 to give up to allow a leg lower to test the 1.2880 level. MACD […]
All our targets which we predicted in yesterday’s analysis have been hit. USD/JPY is still expected to trade with a bullish outlook. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index is supported by a rising trend line. To […]
The Australian Dollar found temporary support in the RBA announcement that no major changes in inflation and growth forecasts were made. Especially the latter was reassuring in the face of recent disappointing CPI data. But the bank maintained optimism about growth with signs of slowing consumption (a drop in retail sales of 0.6% since August) […]
Oil rises to $57, hitting the highest level since July 2015. The rally in oil prices is partly driven by recent reports from the OPEC as the geopolitics continues to boost price surges. As an outgrowth of an anti-corruption campaign, Saudi Arabia’s powerful crown prince led a massive purge over the weekend, removing around a […]
The Bitcoin (BTC) has been trading sideways at the price of $7.183. As hedge funds rush to enter the cryptocurrency space, the landscape for retail cryptocurrency investors is fundamentally changing before our very eyes. Marcel Chuo from news.Bitcoin.com sits down with Guy Zyskind, CEO of Enigma to discuss how his team is helping hedge funds […]
Recently, Gold has been trading sideways at the price of $1,276.00. According to the 15M time – frame, I found a supply trendline, which is holding. It also indicates that sellers are in control today. There is also a breakout of the pivot level of $1,276.95, which is another sign that there is weakness in […]
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3177. Anyway, according to the 15M time – frame, I found a broken upward channel and potential double top formation, which is a sign that buying looks risky. There is also a hidden bearish divergence on the MACD oscillator, which is […]
Overview: The NZD/USD pair is still trading around the area of 0.6818 and 0.6968. Last week, the NZD/USD pair rebounded from the level of 0.6818 in the long term. It should be noted that the support is established at the level of 0.6818 which represents the daily support 1t on the H4 chart. The NZD/USD […]
Overview: The USD/CHF pair broke the resistance at the price of 0.9998 which acts as support since last week.The pair has already formed major support at 0.9942. The strong support is seen at the level of 0.9898. And the minor support is seen at 0.9998 now. On the H1 chart, the RSI and the moving […]
EUR/USD: The EUR/USD pair is moving downwards gradually, while the overall bias on the market is bearish. Price is now below the resistance line at 1.1600, going towards the support line at 1.1550. USD is supposed to be strong this week, and that is what would put some bearish pressure on the EUR/USD pair. USD/CHF: […]
Wave summary: We continue to look for more downside pressure towards 1.6545 to complete wave ii and set the stage for a new impulsive rally in wave iii towards 1.7770. Short-term resistance is now seen at 1.6760, which ideally will cap the upside for the expected decline to 1.6545 R3: 1.6890 R2: 1.6800 R1: 1.6760 […]
Wave summary: Resistance at 133.15 should continue to cap the upside for a test of short-term important support near 131.60 and a clear break below here will confirm that wave (D) completed with the test of 134.49 and wave (E) towards 123.43 is developing. Short-term minor resistance is seen at 132.86. R3: 133.98 R2: 133.15 […]
Daily Outlook A recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as depicted on the chart. This resulted in a quick bullish advance towards next price zones around 0.7150-0.7230 (Key-Zone) and 0.7310-0.7380 which was temporarily breached to the upside. Recent bearish pullback was executed […]
Monthly Outlook In January 2015, the EUR/USD pair moved below the major demand levels near 1.2050-1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450. In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997. […]
