The US Dollar’s currency strength was slightly higher against the British Pound (-0.1 percent), which in yesterday’s trade gained the unmatched component of the main currency basket. Just before noon, the GBP was under pressure from the Bank of England members who for a moment stopped the prospect of further strengthening. A series of interesting […]
An interesting statement was released by the Swedish central bank, Riksbank. According to it “high and rising household indebtedness currently poses the greatest risk to the Swedish economy.” Moreover, we can read that “it is important therefore that the proposal for a stricter amortization requirement is put in place. It is also important to implement […]
Recently, the EUR/USD pair has been trading 1.1740. According to the 15M time – frame, I found successful rejection from pivot level at the price of 1.1735, which is a sign that selling looks risky. I also found a broken supply trendline and a hidden bullish divergence on the stochastic oscillator, which is another sign […]
Technical outlook: The EUR/USD continues to drift sideways/corrective manner and should soon be finding a bottom around 1.1670/80 levels as we have been discussing lately. Please note that the drop from here could be very swift and prices should not stay there for more time and that the rebound could be very sharp. The overall […]
USD/CHF is expected to trade with a bullish bias above 0.9875. Despite a pullback made by the pair posting from 0.9945 (highs of November 16 and 21), a support base at 0.9900 has formed and has allowed for a temporary stabilization. Even though a continuation of consolidation cannot be ruled out, its extent should be […]
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. […]
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 […]
Gary Vaynerchuk at ComplexCon revealed his vision of Bitcoin’s future and blockchain technology.He is a well-known entrepreneur, president, and co-founder of VaynerMedia, a digital agency serving Fortune 500 clients. Gary admits that he understands the theories behind the technology, but has not spent much time delving into applications and solutions. For now, there are no […]
The market remained calm at night, and limited activity on the day before the US holiday deepened the decline in volatility. USD loses slightly with the strongest movement against JPY. New records on Wall Street were an encouragement to the stock market in Asia. Crude oil rises after data on inventory fall. On Wednesday 22nd […]
GBP/JPY is expected to trade with bearish outlook. The pair showed a lack of upward momentum as it is trading below both 20-period and 50-period moving averages. It has reached the lower Bollinger band, calling for a higher possibility of accelerating to the downside. The first downside target is set at 148.25. A break below […]
The Dollar index made new higher highs yesterday but price got rejected at the cloud resistance. We could see a new lower low towards 92.50-93 before starting the next leg up towards 97. Green rectangle – support area Red rectangle – target if support area fails The Dollar index bounced off the 38% Fibonacci retracement […]
NZD/USD is expected to trade with a bullish outlook. The pair posted a rebound and broke above its 20-period and 50-period moving averages. In addition, the golden cross between 20-period and 50-period moving averages has been identified. The relative strength index calls for a bounce. Therefore, above 0.6810, look for a further advance with targets […]
Gold price continues to trade within the trading range of $1,270-$1,297. Gold remains above short-term cloud support, however the entire rise so far does not look impulsive. The best case for bulls is a move to $1,300-$1,310 before a decline to $1,210-$1,250. Blue lines – trading range Gold price is trading above the 4-hour Kumo […]
Last minute burning forecast 22.11.2017 The EURUSD pair has resumed growth, we buy. German Chancellor Merkel said she was confident of victory if early elections were announced. Investors were reassured over the risk of a political crisis in Germany. Germany’s economy is in better shape since 2011. The euro is ready for a new wave […]
Wave summary: The odds still favor that wave i peaked at 1.7408 and a deeper correction is developing in wave ii. The ideal downside target for wave ii is seen near 1.6619. That said, we still need a firm break below support seen at 1.7100 to confirm that wave ii indeed is developing. Resistance is […]
Wave summary: Nothing new to add here. We continue to look for a break below support seen at 131.14 for a decline towards 128.91 and lower towards the ideal target for wave (E) at 123.43. Short-term resistance is seen near 132.60, which we expect will be able to cap the upside for the break below […]
When the European market opens, some economic data will be released such as Consumer Confidence and German 30-y Bond Auction. The US will also release a series of news such as Natural Gas Storage, Crude Oil Inventories, Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Durable Goods Orders m/m, Unemployment Claims, and Core Durable Goods […]
In Asia, Japan today will not release any economic data but the US will release some economic reports such as Natural Gas Storage, Crude Oil Inventories, Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Durable Goods Orders m/m, Unemployment Claims, and Core Durable Goods Orders m/m. So there is a probability the USD/JPY pair will […]
EUR/USD: This pair has been consolidating to the downside since the beginning of the week. However, that has not yet posed a threat to the extant bullish bias on the market, unless price goes below the support line at 1.1650. The support line would make an attempt to impede further bearish movements. USD/CHF: The USD/CHF […]
Price has reacted strongly off our resistance area once again and is starting to drop nicely. We remain bearish looking to sell on strength below 0.9935 resistance (Multiple Fibonacci retracement, pullback resistance) for a strong push down to at least 0.9847 support (head and shoulders exit potential, swing low support, Fibonacci extension). Stochastic (21,3,1) is […]
Price has risen and is now testing major resistance at 0.6853 (Multiple Fibonacci retracement, overlap resistance, multiple Fibonacci extensions) and we expect to see a strong reaction off this level to push price down to at least 0.6781 support (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is seeing major resistance at 89% where we […]
USDX is trying to extend the recovery made from the support zone of 93.55 and it’s finding dynamic resistance in the 200 SMA at H1 chart. Such area is expected to provide offers in the index in order to resume the bearish path in the short-term. If the support mentioned above gives up, the next […]
GBP/USD has been following a bullish sequence that targets the resistance zone of 1.3309, at which we could expect some pullbacks to take place in order to correct the cycle started since November 13th session. With a breakout above 1.3309 the ground will be ready to reach the 1.3360 zone. MACD indicator remains in the […]
Overview The USD/JPY pair showed some rise yesterday to approach the key resistance 113.00, noticing that stochastic shows clear overbought signals now. Besides overlapping negatively on the four-hours time frame, which forms a negative motive that we are waiting to assist to push the price to break 111.90 level and open the way to extend […]
Overview The GBP/JPY pair confirmed the bullish trend by forming a new bullish wave to move away from the support at 147.35. The price gains momentum from the stability of the moving average 55 near the current support, which increases the possibility of renewing the bullish attack. The first upward target could be 150.00, then […]
Overview Gold price begins the attempts to surpass 1,281.17 level now, encouraged by stochastic’s positivity that is displayed on the four-hour time frame. Please note that breaching the mentioned level will push the price towards 1,299.20 directly. In general, the bullish trend will remain active for today on condition of holding above 1,272.00. Breaching the […]
Chairperson Janet Yellen announced yesterday that she would not stay on the Fed board after handing over to Jerome Powell. The decision to shorten the term of office (originally until 2024) was predictable – it was difficult to be number 2 if it was number 1. President Trump then holds another seat on the board […]
The Reserve Bank of Australia (RBZ) Monetary Policy Meeting Minutes were published overnight, but no major surprises were found out. However, the general tone of the minutes seems somewhat more subdued than investors have seen in recent reports. The RBA still expects the inflation to increase, but the pace is described as “only gradually”. This […]
Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1713. Anyway, according to the 15M time – frame, I found a fake breakout of yesterday’s low at the price of 1.1722, which is a sign that selling looks risky. I also found a hidden bullish divergence on the stochastic oscillator, […]
USD/JPY is expected to trade with a bullish outlook. The pair posted a rebound from 111.90 and broke above its 20-period and 50-period moving averages. In addition, a bullish cross between 20-period and 50-period moving average has been identified. The relative strength index is bullish, calling for a further upside. Hence, above 112.20, look for […]
