Breaking Forecast 10.31.2017 All the news is in favor of the US dollar. On Monday, an important report on US consumers’ incomes/expenditures was published: revenue growth was +0.4% for the month, expenses + 1% for the month (on the upper range of forecasts). Inflation, however, according to the PCE index (on the consumer goods basket) […]
Bitcoin has been impulsively bullish after the retest of the $6,000 price level recently. It was expected that the price will retrace much deeply towards the dynamic levels of 20 EMA and Tenkan Sen, but due to heavy bullish momentum, the price pushed higher without any deeper pullback. The last month was very challenging for […]
USDX is forming fractals around the support area of 94.60 and it is adding a kind of strength to that zone in the short term. The outlook points to a consolidation in favor of the bulls, with the nearest target placed around the 95.85 level once it manages to break above October 27th highs. To […]
The price action in the GBP/USD pair remains in favor of the bulls temporarily, despite it has been trapped in a narrow range across the board. The resistance zone of 1.3309 is providing a solid barrier for the bulls and if it manages to pull back around that area, further declines are expected towards the […]
The Bitcoin (BTC) has been trading upwards. As I expected, the price tested the level of $6.583. On October 31 the world’s largest options and futures exchange, CME Group, has announced it will be launching a bitcoin-based derivatives marketplace for future contracts during Q4 of 2017. The US-headquartered financial markets company says there is “increasing […]
Recently, the Gold has been trading sideways at the price of $1,274.00. According to the 15M time – frame, I found strong rejection from the upward trendline (re-test), which is sign that buying looks risky. The price also rejected near pivot resistance 2 at $1,282.00, which is another sign of weakness. My advice is to […]
Recently, the GBP/USD has been upwards. The price tested the level of 1.3320 in an ultra high volume. Anyway, according to the 15M time – frame, I found a strong sign of weakness and rejection from pivot resistance 1 at the price of 1.3315, which may leady GBP/USD lower. There is also divergence on the […]
The New Zealand unemployment rate dropped to 4.6% in the three months ended September 30 down from 4.8% in June, Statistics New Zealand said in its household labor force survey. That’s the lowest level since the December 2008 quarter when New Zealand was in recession, and below the 4.7% predicted in a Bloomberg poll of […]
The latest data on price pressure in Eurozone disappointed the market participants, as the annual core inflation rate fell to 0.9% in October from 1.1% a month ago. This his matches the low from May. The low this year and last was 0.7%, while the cyclical low was 0.6%. The negative outlook for the data […]
USD/JPY is expected to trade with 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 above its neutrality level at 50. Hence, as long as 113.55 holds on the downside, look for the continuation of rebound […]
Overview: The USD/CHF breached the resistance at 0.9942. Right now, it tries to break the second one around the spot of 0.9998 which acts as support now. Hence, the pair has already formed minor support at 0.9942. The strong support is seen at the level of 0.9898 because it represents the weekly pivot. In the […]
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. […]
CME Group is the largest and most recognized trading platform for derivatives and commodities in the world. The unusual sensation was triggered by yesterday’s official press release from which digital currencies society learn that the platform will also support Bitcoin contracts. The exact date is not yet known and depends on meeting all requirements of […]
Trading plan for 01/11/2017: A quiet overnight trading session in Asia with most of the majors trading inside of the range. EUR/USD is at 1.1651, GBP/USD breaks to 1.3307 and USD/CAD is 1.2881. On the commodity market, Crude Oil has extended gains to $54.96, Gold is trading a little higher as well, currently at $1,275. […]
The Dollar index remains in a short-term bullish trend. The price is making higher highs and higher lows and remains inside the bullish short-term channel. The upside target remains at 95.50 as long as we trade above 93.50-94. Blue lines – bullish channel The 4-hour chart shows price above the important indicator kijun-sen (yellow line) […]
Gold has broken out of the downward sloping wedge pattern and yesterday it pulled back to back test the breakout area. Price made a higher low so far, but the short-term trend remains bearish as long as the price is below the Kumo. Blue line – resistance Red line – support The Gold price is […]
EUR/USD: The EUR/USD is still consolidating in the context of a downtrend. When volatility returns to the market, it would most probably favor bears, for the price is expected to reach the support lines at 1.1600 and 1.1550, which would be tested between today and tomorrow. There is a need for the market to go […]
We will retain our yesterday’s forecast about USD/CHF. The pair is still expected to trade in a higher range. Despite the recent pullback from 0.9995 (the high of October 31), the pair is still supported by a rising trend line since October 30. The rising 50-period moving average is playing a support role. The relative […]
All our targets which we predicted in Yesterday’s analysis has been hit. GBP/JPY is still expected to trade in higher range. The pair remains on the upside as long as it stays above 150.40. Currently, it is trading around the ascending 20-period moving average, which stands above the 50-period one. The relative strength index sits […]
Wave summary; The failure to sustain the rally from 1.6821 indicates that the rally to 1.7059 only was corrective and more downside pressure should be expected towards 1.6545 and possibly even closer to 1.6341. A break below support at 1.6821 will change that count in favor of the above depicted. This count shows that wave […]
Wave summary: EUR/JPY has failed to break clearly below important support at 131.60, which tells us, that a larger correction into the 132.96 – 133.32 area is developing before renewed downside pressure should be expected. To confirm that wave (D) has completed, we still need a firm break below support at 131.60, that will confirm […]
NZD/USD is expected to trade with a bullish outlook. The pair posted a rebound and broke above the upper boundary of Bollinger Bands, which indicated the bullish reversal. The 20-period moving average has crossed above the 50-period one. The relative strength index shows upside momentum. Therefore, as long as 0.6880 is not broken, look for […]
The price has shot up and reached our profit target perfectly. We remain bullish looking to buy above major support at 132.28 (Fibonacci retracement, horizontal pullback support, cup and handle support) for a push up to 133.12 resistance (Fibonacci extension, cup and handle potential, Fibonacci retracement). Stochastic (89,3,1) is starting to bounce up nicely from […]
The price has started to bounce perfectly off our major support level as expected. We remain bullish looking to buy on dips above major support at 0.6821 (Fibonacci extension, horizontal swing low support) and we expect to see a nice bounce from this level to at least 0.7052 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic […]
When the European market opens, there is no Economic Data will be released today from the Euro Zone. The US will release the Economic Data, too, such as Federal Funds Rate, Total Vehicle Sales, Crude Oil Inventories, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, and ADP Non-Farm Employment Change, so, […]
In Asia, Japan will release the 10-y Bond Auction and Final Manufacturing PMI data, and the US will release some Economic Data, such as Federal Funds Rate, Total Vehicle Sales, Crude Oil Inventories, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, and ADP Non-Farm Employment Change. So, there is a probability […]
Global macro overview for 31/10/2017: The recent weeks have left investors sharply negative about the US Dollar. Just two months ago, the market discussed d the low probability of tax cut approval and a rate hike in December. Today, both scenarios are baseline, which, together with the fears of a US-North Korean conflict and strong […]
Global macro overview for 31/10/2017: In the Monetary Policy Statement, BoJ Governor Kuroda said that debating stimulus exit would send a wrong message to the markets. Moreover, he noted that the Japanese economy is doing well, but the inflation expectations and prices remain weak, so BoJ wants inflation to hit the 2% price target at […]
USD/JPY is under pressure. The pair recorded lower tops and lower bottoms since October 27, which confirmed a negative outlook. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index is bearish and calls for a further drop. To conclude, as long as 113.65 holds on the […]
