When the European market opens, some Economic Data will be released, such as ECOFIN Meetings, Retail Sales m/m, Retail PMI, Italian Retail Sales m/m, French Gov Budget Balance, and German Industrial Production m/m. The US will release the Economic Data, too, such as Consumer Credit m/m, JOLTS Job Openings, IBD/TIPP Economic Optimism, and Mortgage Delinquencies, […]
In Asia, Japan will release the Average Cash Earnings y/y data, and the US will release some Economic Data, such as Consumer Credit m/m, JOLTS Job Openings, IBD/TIPP Economic Optimism, and Mortgage Delinquencies. So, there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: […]
The price has broken major support and is on route to our profit target. We now look to sell on strength below major resistance at 132.30 (Fibonacci retracement, horizontal overlap support) for a strong push down to at least 131.52 support (Fibonacci extension, horizontal swing low support). RSI (34) sees immediate support at 41% and […]
The price has continued to rise perfectly to our profit target. We now prepare to sell below major resistance at 0.6968 (Fibonacci retracement, Fibonacci extension, bearish divergence) and we expect to see a strong reaction from this level to push the price down to at least 0.6827 support (Fibonacci extension, horizontal swing low support). Stochastic […]
The index stays alive in the bullish bias held since last week above the 200 SMA at H1 chart. The nearest resistance is placed at the 95.14 level, where a break should expose the 95.85 level across the board. Currently, price action doesn’t suggest further weakness in USDX, but a decline to test the 200 […]
The pair has started the week with a consolidation above the support zone of 1.3037, at which could gather momentum in order to extend the recovery towards the 200 SMA at H1 chart. However, we’re expecting that support zone of 1.3037 gives up to allow a leg lower to test the 1.2880 level. MACD indicator […]
The Bitcoin has been quite corrective and bearish after breaking above the $7,000 price level. The gain after the break above the $7,000 level was quite corrective and volatile which was quite as expected as the price has moved impulsively in a non-volatile manner recently which lead to certain retracement. As of the recent opening […]
EUR/USD has been quite bearish in nature after the break and retest off the 1.1660. USD has been quite positive with the economic reports recently which helped the currency to gain some momentum against EUR. Recently US Non-Farm Payroll report was published with better than previous figure of 261k from the previous figure of 18k […]
The Bitcoin (BTC) has been trading sideways at the price of $7,343. After shutting down the country’s bitcoin exchanges, the Chinese government is monitoring the booming cryptocurrency over-the-counter (OTC) market. A recent government report shows that 680 million yuan, approximately $103 million, were traded in the last two weeks of October on the top three […]
The NFP payrolls headlight number was expected at the level of 312k, but the number revealed was at the level of 261k. Nevertheless, this result was far better than 18k a month ago. A report from the US labor market illustrating the condition of this economic sphere in October remained under the enormous influence of […]
Market participants expect the RBA to hold the interest rate unchanged at the level of 1.50%, but in previous years November has been a very popular month for changing rates. Rates have not been adjusted in November since 2011. However, in the six years from 2006 to 2011, there was a rate move at every […]
Overview: The EUR/USD pair continues to move downwards from the level of 1.1608. The pair dropped from this level of 1.1608 which coincides with the first resistance to the current point around 1.1587. Today, the first resistance level is seen at 1.1608 followed by 1.1638, while daily support 1 is seen at 1.1577. According to […]
Overview: The GBP/USD pair is still trading upwards from the zone 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 retracement level. This […]
Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1588. According to the 15M time-frame, I found that price is trading below the pivot level (1.1633), which is a sign that sellers are in control. I also found bearish breakout of intraday trading range, which is another sign of weakness. […]
USD/JPY is expected to trade with bullish outlook. Despite the recent pullback, the pair is still trading above the key support at 113.60, which should limit the downside potential. The relative strength index advocates for a further upside. Hence, as long as 113.60 is not broken, look for a new rebound with targets at 114.70 […]
USD/CHF is expected to trade with bullish outlook. Although the pair posted a pullback from 1.0025 (the high of November 3), a support base at 0.9975 has been formed and has allowed for a temporary stabilization. The relative strength index is mixed with bullish bias. The US Labor Department reported that the economy added 261,000 […]
GBP/JPY is expected to trade with bullish bias above 149.10. Although the pair posted a pullback from 148.70, a support base at 149.10 has been formed and has allowed for a temporary stabilization. The relative strength index is mixed with bullish bias. To conclude, as long as 149.10 holds on the downside, a further upside […]
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3127. Anyway, according to the 15M time-frame, I found successful rejection from the pivot resistance 1 at the price of 1.3125, which is a sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which […]
NZD/USD is under pressure and expected to continue the downside movement. The technical outlook for the pair is bearish as the prices broke below the rising trend line since November 1. The 20-period moving average crossed below the 50-period one. The relative strength index is below its neutrality level at 50. To conclude, as long […]
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 advance towards the 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 […]
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. […]
EUR/USD: This pair moved sideways from Monday to Thursday and then went further downwards on Friday, while the dominant bias remains bearish. This week, the support lines at 1.1600 (which has almost been tested), 1.1550 and 1.1500 may be tested owing to a strong bearish bias on EUR pairs for the week. USD/CHF: This currency […]
With the growing tension between Iran and the United States, the first one plans to incorporate the Bitcoin into its payment system. After the speech of Donald Trump who called the deal with Iran the worst transaction in history, Iran and the United States have no best relations. Iran still suffers from international sanctions that […]
The week starts with a slightly stronger US dollar, especially against the yen as USD/JPY hit 114.70 and the New Zealand Dollar hit 0.6900 level. Raw material prices continue to dominate the commodity markets. WTI close to $56, and there is a huge increase in natural gas prices and a sharp increase in copper prices. […]
The dollar index marginally broke below the bullish channel last week but price held above the 4 hour Ichimoku cloud support. The trend remains bullish targeting towards 95.50. Blue lines – bullish channel The dollar index is trading above the Kumo (cloud). The trend remains bullish. Support is at 94.75-94.50 and the next one is […]
Gold price remains in a bearish trend. Price has broken again below the 4 hour Ichimoku cloud as it could not stay above $1,280 last week. Price got rejected at the important short-term resistance and that is why we closed near the lows. Black line -RSI support Gold price is trading below the 4 hour […]
Wave summary: We are looking for more downside pressure in wave ii closer to support at 1.6545 before the next impulsive rally in wave iii should be expected. Short-term resistance at 1.6914 is likely to cap the upside for expected decline lower. A break below minor support at 1.6831 will confirm renewed downside pressure. R3: […]
Wave summary: Our preferred count shows that wave (D) completed with the test of 134.45 and wave (E) now is developing for a final decline to 123.43 from where a strong impulsive rally is expected. Short-term resistance at 133.15 should continue to cap the upside for a break below 132.29 for a continuation towards 128.36 […]
Technical outlook: The 4H chart of EUR/USD is presented for a clear wave count from recent swing highs at 1.2092 levels. As labelled here, 2 wave counts are coming out quite prominent: either a potential leading diagonal is in the making or an A-B-C corrective drop is underway. In both cases, the common point is […]
When the European market opens, some economic data will be released such as Eurogroup Meetings, PPI m/m, and Sentix Investor Confidence, as well as German Final Services PMI, French Final Services PMI, Italian Services PMI, Spanish Services PMI, German Factory Orders m/m. The US will also unveil some reports such as Loan Officer Survey. So, […]
