GBP/USD has been quite volatile and corrective recently and residing below the resistance level of 1.3130 with a daily close. GBP has been quite worse with the economic reports recently whereas the Interest Rate hike also could not help the currency gain some momentum over USD. Today several GBP and USD high impact economic reports […]
When the European market opens, some Economic Data will be released, such as ZEW Economic Sentiment, Industrial Production m/m, German ZEW Economic Sentiment, Flash GDP q/q, Italian Prelim GDP q/q, German Final CPI m/m, and German Prelim GDP q/q. The US will release the Economic Data, too, such as Core PPI m/m, PPI m/m, NFIB […]
In Asia, Japan will get the BOJ Gov Kuroda Speaks, and the US will release some Economic Data, such as Core PPI m/m, PPI m/m, NFIB Small Business Index, and Federal Budget Balance. So, there is a probability the USD/JPY will move with a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. […]
There was no response against the argument. No matter how good the macroeconomic indicators of the UK have been lately, the bulls in the GBP/USD are not able to fight political risks. Strong data on industrial production and foreign trade allowed the British pound to go above the base of the 32nd mark against the […]
USD/JPY is expected to trade with bearish outlook. Despite the recent pullback, the pair is still trading below the declining 50-period moving average, which plays a resistance role. The relative strength index is below its neutrality level at 50 and lacks upward momentum. Hence, as long as 113.75 holds on the upside, look for a […]
Our first target which we predicted in previous analysis has been hit. The pair is again turning down after the short rebound, and also broke below its 50-period moving average. The relative strength index is turning down, and calls for a new drop. Last but not least, the nearest resistance at 0.9980 maintains the strong […]
GBP/JPY is under pressure and expected to continue the downside movement. The pair is under pressure below the key resistance at 148.95, which should maintain the upside potential. The relative strength index is bearish below its neutrality level at 50 and lacks upward momentum. Therefore, as long as 148.95 holds on the upside, look for […]
The Bitcoin (BTC) has been trading downwards. As I expected, the price tested the level of $5,636. Gavin Andresen is the latest significant player in bitcoin to pledge support for bitcoin cash, referring to it as the chain most true to Satoshi’s original vision. In a tweet published on the 12th of November, Andresen has […]
Recently, the EUR/USD pair has been trading sideways at the price of 1.1669. According to the 15M time – frame, I found testing of Friday’s high at the price of 1.1675, which is a sign that buying looks risky. I also found overbought conditions on the stochastic oscillator, which is sign of weakness. My advice […]
NZD/USD is Under pressure and expected to trade in a lower range. The pair is clearly in a down trend, and also remains under pressure below its key resistance at 0.6950. Both the 20-period and 50-period moving averages are heading downward now, and should continue to push the prices lower. Last but not least, the […]
Recently, Gold has been trading sideways at the price of $1,277.45. According to the 30M time – frame, I found broken intraday bearish flag below the pivot level ($1,278.75), which is a sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My […]
This week’s event is Tuesday’s presentation of the four major global central banks (the Fed, the ECB, Bank of England, Bank of Japan) at the European Central Bank’s “Challenges in Policy Effectiveness, Responsibility, and Reputation Communication” conference in Frankfurt, Germany. Discussion can be an opportunity (planned?) for coordinated action by the central bankers on the […]
The Federal Budget Balance data measures the difference in value between the federal government’s income and spending during the previous month. The October budget statement from the Treasury will mark the beginning of the fiscal year 2018. During the fiscal year 2017, the budget deficit increased to $666 bn, from $586 bn during the previous […]
Overview: The market opened below the first resistance 1 (1.1665). It continued to move downwards from the level of 1.1665 to the bottom around 1.1640. Today, the first resistance level is seen at 1.1665 followed by 1.1737, while daily support 1 is seen at 1.1535. The EUR/USD pair broke support which turned into strong resistance […]
Overview: Since last week the GBP/USD pair is still moving upwards above the level of 1.3017. The first support level is currently seen at 1.3017. The price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 1.3017, which coincides with the 61.8% Fibonacci […]
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. […]
In an official statement released on Thursday, Tom Zander praised BitcoinCash and said that its value means that Bitcoin Classic’s performance would be more than that, believing that within half a year BTC would stop adding “Cash” and that we would start calling it a new ” Bitcoin. Bitcoin Cash increased its value by 35% […]
Monday’s opening brings the sale of the British Pound under the influence of the weekend press. The Nikkei225 marks a sudden drop, pulling in USD/JPY and giving a negative signal to the markets in Europe. The fall on the Japanese stock exchange woke up the Gold bears. The ounce price rises to $1,277 from $1,273 […]
Trading Plan for November 13-17, 2017 The general picture: the second week without important news. So, the second week started without important news for the FOREX market: there is a lull in the market. On Wednesday there will be data on retail sales in the US for October and inflation data on retail prices – […]
The Dollar index is trading right above the important medium-term trend line support at 94.40. The price remains inside the Kumo and has not broken below it. The price is making higher highs. So far bulls remain in control. A strong upward move will come very soon as long as we trade above 94.40. Blue […]
Gold price made a sharp reversal on Friday getting rejected once again at the $1,283-88 resistance area and where we also warned that the important 61.8% Fibonacci retracement was. Price has now tested the Ichimoku cloud support and is bouncing. Gold has pulled back towards the 4 hour Kumo support and holds above it. Price […]
Last minute burning forecast 13.11.2017 EURUSD: Growth is expected, focus is on buying. The EURUSD pair ended the week in favor of buyers: the closing of the day and the week moved near highs. Important news are not expected until the middle of the week. The most likely scenario is the euro’s rise towards 1.1690 […]
Wave summary: We continue to look for a new impulsive rally towards 1.7770 as the next larger upside target. Short term, we expect support at 1.6614 will protect the downside for a break above minor resistance at 1.6890 for a rally to and above resistance at 1.7216. R3: 1.7216 R2: 1.7059 R1: 1.6853 Pivot: 1.6695 […]
Wave summary: We continue to look for a move closer to resistance at 133.15 to complete wave ii and set the stage for a strong decline in wave iii towards 128.36. A clear break below support at 131.60 will confirm that wave (E) is developing towards the ideal target seen at 123.43. R3: 133.15 R2: […]
USD/JPY has been quite corrective and volatile recently after rejecting off the 114.50 resistance area for several times. USD has been quite mixed with the economic reports whereas JPY could not gain in the moment due to worse economic reports. Today JPY PPI report was published with a positive outcome of 3.4% which was an […]
EUR/USD has been quite volatile recently after breaking below the 1.1670 support area. Due to recent worse economic reports from USD, the currency was unable to dominate EUR as it was expected but as of the upcoming Rate Hike decision in December, a bearish pressure is expected to hit the pair in the coming days. […]
EUR/USD: The bias on the EUR/USD is bearish, but the price has been making some faint bullish effort (especially on Friday). The outlook for the market is bullish for this week (and so it is for some EUR pairs), and therefore, the price may go upwards to form a Bullish Confirmation Pattern in the 4-hour […]
The price has started to drop really nicely from our selling area and has broken an ascending support-turned-resistance line triggering a change in momentum. We remain bearish looking to sell on strength below major resistance at 0.6968 (Fibonacci retracement, Fibonacci extension, bearish divergence) for a push down to at least 0.6827 support (Fibonacci extension, horizontal […]
The dollar ended the week with a slight decline, for the first time in a month. The decline is primarily due to market reaction towards the tax reform plan proposed on Thursday. The final document was slightly worse than market expectations, based on preliminary statements by Trump and Treasury Minister Mnuchin, and could also reduce […]
