EUR/USD: The EUR/USD is consolidating in the context of a downtrend. There would be a rise in volatility today or tomorrow, which would most probably be in favor of bears. Price may reach the support lines at 1.1550 and 1.1500. Price is currently below the resistance line at 1.1600. USD/CHF: The USD/CHF is moving sideways […]
A message from Mike Belshe, the chief spokesman, said it was “clear” that the project “did not reach enough consensus to make a clean upgrade of the blocks right now.” Belshe’s post states that “the Segwit2x effort began in May with a simple purpose: to increase the blocksize and improve Bitcoin scalability. At the time, […]
Surprising reversals in asset prices remain a key theme for this week. The sudden drop of the Nikkei 225 was followed by USD/JPY and other Dollar caresses. EUR/USD jumped to 1.1610. Reserve Bank of New Zealand gave a positive boost to NZD when it left the interest rates unchanged at 1.75%. Risk aversion led USD/CHF […]
The Dollar index has broken the short-term bullish channel and has entered the 4-hour Kumo (cloud) support area. Trend has changed from bullish to neutral. The Dollar index is showing reversal signs off important medium-term resistance. Blue lines – bullish channel The Dollar index is about to enter the 4-hour Ichimoku cloud. This will change […]
AUD/JPY has been very volatile and corrective at the edge of 87.30-50 event area. AUD has been struggling with the mixed economic reports whereas JPY is also found to be facing hard times with recently published worse economic reports. Today Japan’s Bank Lending report was published with a decreased value at 2.8% from the previous […]
Gold price has been making higher highs and higher lows since a pullback from the low at $1,263. The short-term trend has changed to bullish and is challenging important resistance at $1,283-86. Gold is in a bullish short-term trend as long as price is above $1,272. Blue lines – bullish channel Red rectangle – short-term […]
Last minute burning forecast 09.11.2017 EURUSD is prepared for a strong move. There is complete lull on the market because there are still no important news. The EURUSD pair showed a very rare intraday consolidation – for almost a day, the movement stood in the range of 1.1580 – 1.1605 – a break of the […]
Wave summary: EUR/NZD continues to follow the expected path lower towards the ideal downside target at 1.6545 from where a new impulsive rally towards 1.7770 is expected. Short-term minor resistance is seen at 1.6750 and a break above here will be the first indication that wave ii has completed and wave iii higher is developing. […]
GBP/JPY is expected to continue the upside movement. The pair posted a strong rebound last night, and is now above its 20-period and 50-period moving averages. The relative strength index has reversed up, and is displaying strong bullish momentum. In which case, as long as 148.90 holds on the downside, look for a continuation of […]
Wave summary: EUR/JPY has tested important resistance at 131.60 again. The failure to break right through indicates a more complex wave ii correction is building in form of a flat correction. This mean a new rally to 131.15 should be expected shortly to complete wave c of ii and set the stage for the next […]
Overview: The NZD/USD pair has already tested the zone of 0.6963. The NZD/USD pair will probably continue to move upwards from the level of 0.6963. However, the first resistance level is seen at 0.6963 followed by 0.6981 and 0.7003, while the weekly support 1 is seen at 0.6889 (major support this week). According to the […]
Overview: The trend of USD/CHF pair movement was controversial as it took place in a narrow sideways channel, the market showed signs of instability. Amid the previous events, the price is still moving between the levels of 0.9938 and 1.0037. Also, the daily resistance and support are seen at the levels of 1.0037 and 0.9938 […]
When the European market opens, some Economic Data will be released, such as EU Economic Forecasts, ECB Economic Bulletin, and German Trade Balance. The US will release the Economic Data, too, such as 30-y Bond Auction, Natural Gas Storage, Final Wholesale Inventories m/m, and Unemployment Claims, so, amid the reports, EUR/USD will move in a […]
In Asia, Japan will release the Economy Watchers Sentiment, 30-y Bond Auction, Current Account, Core Machinery Orders m/m, Bank Lending y/y, and BOJ Summary of Opinions data, and the US will release some Economic Data, such as 30-y Bond Auction, Natural Gas Storage, Final Wholesale Inventories m/m, and Unemployment Claims. So, there is a probability […]
The uncertainty surrounding the tax reform, the growth of geopolitical risks in the Middle East and the visit of Donald Trump to Asia allowed the bulls in gold to restrain their opponents who are on the offensive. There were rumors in the market that the start of the transformation of the fiscal system in the […]
Market participants expect the RBNZ to maintain its key interest rate at 1.75% together with the neutral outlook for the monetary policy. NZD has undergone a strong influence on political risk, which seems a little exaggerated. With such a neutral position, optimistic RBNZ may be a pretext for short positions on NZD and short-term currency […]
The demand for workers remained strong in the US in September, with 6.1M (versus 5,9M a month ago) job openings registered at the end of the month. The number of openings relative to the size of the employment base was unchanged in September at a cycle high of 4.0%.After moving sideways for much of 2016, […]
The Bitcoin (BTC) has been trading upwards. The price tested the level of $7,517. Sweden’s financial regulator has issued a statement outlining a number of risks pertaining to ICOs. The document describes “ICO” as a “term used as the designation for launching a new token or other form of digital access based on… crypto”. Technical […]
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. […]
Recently, the EUR/USD has been trading sideways at the price of 1.1590. According to the 15M time – frame, I found that price failed to test pivot resistance 1 at the level of 1.1617, which is sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another […]
Recently, Gold has been trading upwards. The price tested the level of $1,282.40. Anyway, according to the 15M time – frame, I found successful rejection from pivot resistance 1 at the price of $1,280.70, which is sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another […]
AUD/USD has been very volatile and corrective recently showing no directional bias after the break below the 0.7750 area. Yesterday, RBA announced its policy decision, so the regulator maintained the cash rate unchanged at a record low of 1.50% as expected. The decision did not quite help USD to gain momentum against AUD till now […]
According to the New Zealand Financial Markets Authority, cryptocurrency and ICO projects are safe. The decision was discussed in detail in the new ICO and virtual currencies guidelines issued by this agency. In its statement published at the end of October 2017, the Financial Markets Authority maintained that each ICO digital currency and token would […]
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. […]
