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 […]
GBP/JPY is expected to trade with bullish outlook. The pair formed an intraday “V-bottom” pattern, and now stands above its 50-period moving average, which is turning up. The relative strength index has broken above a falling trend line and calls for further advance. In addition, a strong support base at 148.40 has formed and has […]
NZD/USD is expected to trade with a bullish outlook above 0.6780. The pair stands firmly above its horizontal support at 0.6780, which has formed and has allowed for a temporary stabilization. The relative strength index is mixed, but lacks downward momentum. Therefore, even though a consolidation cannot be ruled out at the current stage, its […]
Overview: The USD/CHF faces a minor resistance at the level of 0.9910, while the strong resistance is seen at 0.9966. Support levels are found at the 0.9870 and 0.9782. Today, the USD/CHF pair continues to move downwards from 0.9910. The pair could fall from 0.9910 level to the first support around 0.9870. In consequence, if […]
Overview: The NZD/USD pair (Kiwi) has hit the new low at the level of 0.6779. Today, the NZD/USD pair probably will continue to move downwards from the level of 0.6800. Last week, the pair dropped from the level of 0.6800 to the bottom around 0.6779. Today, the first resistance level is seen at 0.6800 followed […]
GBP/USD has been quite volatile and corrective recently since the recent Rate Hike which put the market into an indecisive phase. GBP has been going through lots of ups and downs due to political unrest in the UK and some economic issues which has confused the market sentiment which resulted in indecision and corrections. Today, […]
Blockchain revolutionizes the world in many ways, starting with banking and finance, through the transport and distribution of goods and services to Sci-Fi visions. Speaking here mainly about the internet things. First of all, let’s take a look at the lock in the public locker room and the armband, between which a smart agreement can […]
Overnight the financial markets have gone quiet if not boring. Weakest, albeit on a limited scale, were AUD and NZD, mostly due to dovish sounding RBA minutes release. EUR/USD is hovering around 1.1740, USD/JPY around 112.55 and GBP/USD – 1.3250. The stock market is trading at a rebound after yesterday’s dismal session. Gold grows, oil […]
The Dollar index is making new short-term higher highs but price remains below the cloud. Trend remains bearish in the medium-term. There are still chances that the entire decline from 95 is not over and we could see a move towards 93-92.50. Blue line – trend line support (broken) Green rectangle – support Red rectangle […]
Gold price as expected got rejected at the upper trading range boundary and fell back towards cloud support. Short-term support at $1,277 was broken but not the important $1,272 one. Trend remains neutral. Gold price could continue lower towards $1,272 and as long as it closes above it, we could see $1,300. Blue lines – […]
Trading plan 11/21/2017 EURUSD: Trade for a breakout range. German Chancellor Merkel cannot form a majority in the parliament – this stopped the growth of the euro. At the same time, there was no sharp fall: “Germany’s economy is currently very strong and is ready to grow, the political crisis will not affect the economy […]
USD/JPY is currently trading inside the corrective range of 111.60 to 113.00 where the market is currently following a bearish bias. JPY has been dominating over USD for last few days. The pair is expected to be indecisive in the coming days as the market sentiment is currently quite USD biased amid the likelihood for […]
Wave summary: The most likely scenario remains, that wave i completed with the test of 1.7408 and wave ii lower to 1.6619 now is developing. Short-term a break below minor support at 1.7209 and more importantly a break below support at 1.7157 is needed to confirm that wave i has peaked and wave ii lower […]
Wave summary: We continue to look for more downside pressure in wave (E) of the huge triangle consolidation. The ideal downside target for wave (E) is seen near 123.43. Short-term, we expect minor resistance near 132.60 to be able to cap the upside for renewed downside pressure through support at 131.14 confirming the expected decline […]
EUR/USD: This pair made an invalid bearish effort last week – while the recent bullish bias remains valid. The price could be seen going upwards this week. There are support lines at 1.1700 and 1.1650, which would try to impede any bearish attempts along the way. USD/CHF: In the last few trading days, the price […]
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. The recent bearish pullback was […]
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. […]
The price is now testing major resistance at 112.69 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong drop from this level towards 112.00 support (Fibonacci extension, horizontal swing low support). Stochastic (21,3,1) is seeing strong resistance below 97% where we expect a corresponding drop from. Sell below 112.69. Stop loss is […]
The price has bounced up to our selling area once again and we look to remain bearish and sell on strength below 0.9935 resistance (Multiple Fibonacci retracements, pullback resistance) for a strong push down to at least 0.9847 support (head and shoulders exit potential, swing low support, Fibonacci extension). Stochastic (34,3,1) is seeing major resistance […]
There is no Economic Data will be released when the European market opens, but the US will release the Economic Data, such as Existing Home Sales, so, amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Breakout BUY Level: 1.1801. Strong Resistance:1.1794. Original Resistance: 1.1782. Inner […]
In Asia, Japan will release the All Industries Activity m/m data, and the US will release some Economic Data, such as Existing Home Sales. So, there is a probability the USD/JPY will move with a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 113.20. Resistance. 2: 112.98. Resistance. 1: 112.76. Support. […]
The Japanese yen was optimistic about the information regarding the inability of Angela Merkel to form a coalition in Germany. The risks of repeated parliamentary elections or minority governments increased the market uncertainty and hiked the demand for safe haven assets. As a result, the USD / JPY pair confidently moved to a 1.5-month low, […]
Trading plan 20.11 – 24.11.2017 The overall picture: Merkel’s problems with the government caused the euro to decline. Unexpected news came out on Sunday: Merkel could not form a majority in the parliament (failed to create a ruling coalition) – and now, most likely, there will be new elections. Merkel’s problem arose with the Free […]
USD/JPY is under pressure.The technical outlook of the pair is negative as the prices recorded lower tops and lower bottoms since November 16. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index is capped by a falling trend line since November 16. To conclude, below 112.50, […]
USD/CHF is expected to trade with a lish outlook. The pair remains above its key support at 0.9945. The rising 50-period moving average is heading upward now, and should continue to push the prices higher. Last but not least, the relative strength index lacks downward momentum, calling for a new rise. Hence, as long as […]
USD/CHF is expected to trade with a bullish outlook. The pair remains above its key support at 0.9945. The rising 50-period moving average is heading upward now and should continue to push the prices higher. Last but not least, the relative strength index lacks downward momentum and calls for a new rise. Hence, as long […]
GBP/JPY is expected to trade with a bullish outlook. The pair bounced off its nearest key support at 147.65, and is likely to challenge the resistance at 149.25. Both the 20-period and 50-period moving averages are heading upward now, and should continue to push the prices higher. Last but not least, the relative strength index […]
The Bitcoin (BTC) has been trading upwards. As I expected, the price tested the level of $8,136. Hundreds of thousands of dollars worth of BCH is languishing in segwit addresses. The funds were mistakenly sent there by users who have no easy way of differentiating segwit and non-segwit addresses. Retrieving the funds is difficult, but […]
