Wave summary: We continue to look for a clear break above resistance at 134.41 confirming more upside in wave (D) closer to 137.37 from where wave (E) should take over to complete the long-term triangle consolidation. Wave (E) should ideally move lower to 123.43. Short-term, we minor support at 133.37 max. 133.08 will protect the […]
When the European market opens, some Economic Data will be released, such as German 10-y Bond Auction and German Ifo Business Climate. The US will release the Economic Data, too, such as Crude Oil Inventories, New Home Sales, HPI m/m, Durable Goods Orders m/m, and Core Durable Goods Orders m/m, so, amid the reports, EUR/USD […]
In Asia, Japan today will not release any Economic Data, but the US will release some Economic Data, such as Crude Oil Inventories, New Home Sales, HPI m/m, Durable Goods Orders m/m, and Core Durable Goods Orders m/m. So, there is a probability the USD/JPY will move with low to medium volatility during this day. […]
The price has dropped strongly and is now testing strong support at 88.11 (Fibonacci retracement, horizontal pullback support) and we expect to see a corrective bounce from here to at least 88.69 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,3,1) is seeing strong support above our 1.2% where we expect a corresponding bounce from. […]
The price has reached our buying area and is testing it. We remain bullish looking to buy on major support at 1.1747 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a bounce up to at least 1.1855 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,3,1) is seeing major support at 1.1% and bouncing up […]
While Kurdistan is at war with the federal forces of Iraq, OPEC is optimistic about the stabilization of the situation on the oil market, and while Brent is preparing for the first time in two years to storm the psychologically significant level of $60 per barrel, the United States is altering the world for themselves. […]
Overview Gold price closed yesterday’s trading above $1,281.17 level, noticing that the last decline is confined inside falling Wedge pattern which signs appear on chart. As the price attempts to breach its resistance and moves above its resistance now, which hints the price head to regain the main bullish trend again and stop the negative […]
Global macro overview for 24/10/2017: The New Zealand Dollar is usually strong in the periods of risk appetite, but in recent days has been hit by the domestic political developments. The overnight bumps sparked reports that the new government is planning to “revise and reform” the law governing the Reserve Bank of New Zealand. This […]
President Donald Trump said that he is “very, very close” to announcing his nominee for chairman of the Fed. Trump is considering Stanford University economist John Taylor and Fed Governor Jerome Powell, although Fed Chair Janet Yellen could be reappointed (but it’s clear that Yellen is never a favorite of Trump). Reportedly, Trump’s advisors are […]
The Bitcoin (BTC) has been trading downwards. As I expected, the price tested the level of $5.527. Banks such as Barclays and HSBC retain some cryptocurrency business, though reluctantly. Citing money laundering and general criminality, HSBC said it’s “monitoring the development of virtual and digital currencies such as bitcoin as well as regulations governing their […]
Technical outlook: The EUR/USD pair is seen to be unchanged from what was discussed yesterday. The pair has managed to hold intraday gains until now after printing lows at 1.1723 levels and it looks like it has completed minimum requirements for a corrective drop from 1.1880, in 3 waves now. Either a flat or a […]
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 […]
Recently, the Gold has been trading sideways at the price of $1,278.00. Anyway, I found rejection from supply cluster near the pivot resistance 1, which is a sign that buying looks risky. There is also a hidden bearish divergence on the MACD oscillator, which is another sign of weakness. My advice is to watch for […]
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 USD/JPY has been trading sideways at the price of 113.70. Anyway, I found today double bottom formation, which is a sign that selling looks risky. There is also a broken pivot level at the price of 113.50, which is another sign of strength. My advice is to watch for potential buying opportunities. The […]
Bitcoin analysis for 24/10/2017: The planned Bitcoin fork will be held not on 25/10/2017 as originally announced, but the day before, at the height of block 491407, when miners begin to form blocks with the new proof-of-work algorithm, Equihash. Of course, Blockchain Bitcoin will remain the same, while the new segment will be split from […]
Trading plan for 24/10/2017: The markets are still waiting to settle in a set of political themes, which condemns trade to remain in the narrow band. Speculation that the central bank’s mandate to change in New Zealand harms NZD, which is today the weakest.The rest of FX is relatively stable, waiting for settlement on the […]
Overview: The USD/CHF pair continues to move upwards from the levels of 0.9744 and 0.9800. Hence, the spot of 0.9744 and 0.9800 represents strong support today. Since the trend is above this level, the market is still in an uptrend. Furthermore, the trend is still strong above the moving average (100). The USD/CHF pair didn’t […]
The EUR / USD pair is preparing for a breakthrough. Morning review. Monday did not bring profit to supporters of direct trades. The EUR / USD pair stayed in the narrow range for almost the entire day, trying to break below the level of 1.1730, but invariably faced with fierce resistance from buyers. At the […]
Overview: Last week, the NZD/USD pair has fallen from the level of 0.7067 towards 0.6972. Right now, the price is set at 0.6921 to act as a minor support. It should be noted that volatility is very high for that the NZD/USD pair is still moving between 0.7020 and 0.6900 in coming hours. Furthermore, the […]
The Dollar index remains in a bullish trend. Yesterday after reaching new highs at 94 area, price pulled back towards the broken trend line area for a backtest. A bounce off this trend line will increase the bullish scenario strength. Blue line – resistance (broken) The Dollar index is trading above the Ichimoku cloud in […]
Last minute burning forecast 24.10.2017 GBP – the way to the top is not hindered. As clearly seen on the chart – for the last few days, the situation on the market is practically unchanged – there is essentially no movement, neither up nor down. Entirely calm. It is clear that the market is waiting […]
The Gold price has broken out of the downward sloping wedge pattern but has stopped right at the short-term cloud resistance at $1,282. Price needs to break above $1,282 and especially $1,290 for any upward move to consider the start of the next upward move to $1,400. Blue line – resistance (broken) Red lines – […]
Wave summary: We have seen the expected minor correction from 1.6953 down to 1.6784 and the next impulsive rally higher to 1.7777 is now expected on the way higher to the ideal 1.8032 target. Short-term support is now seen at 1.6870 and again at 1.6784 that should be able to protect the downside for the […]
Wave summary: As long as support at 132.45 is able to protect the downside, as long will we be looking for a continuation higher towards 137.37 to complete wave (D) of the huge triangle that has been developing since June 2008. Short-term a break above minor resistance at 133.40 will indicate more upside pressure, while […]
When the European market opens, some Economic Data will be released, such as Belgian NBB Business Climate, Flash Services PMI, Flash Manufacturing PMI, German Flash Services PMI, German Flash Manufacturing PMI, French Flash Services PMI, and French Flash Manufacturing PMI. The US will release the Economic Data, too, such as Richmond Manufacturing Index, Flash Services […]
In Asia, Japan will release the Flash Manufacturing PMI data, and the US will release some Economic Data, such as Richmond Manufacturing Index, Flash Services PMI, and Flash Manufacturing PMI. So, there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 113.89. Resistance. 2: […]
EUR/USD: The EUR/USD did not move significantly on Monday. However, a movement that is directional is expected this week, which would either take price above the resistance line at 1.1850 or below the support line at 1.1700. Until one of the two boundaries are breached, the bias on the market would be neutral. USD/CHF: On […]
The Bitcoin has recently reached $6,000 resistance area and bounced off the area with the bullish rejection and a daily close below it. Ahead of the Bitcoin split in November the price has bounced off the $6,000 price level as expected. Though there are certain restrictions about Bitcoin trading going on in few countries which […]
All our targets which we predicted in Yesterday’s analysis have been hit. USD/JPY is expected to continue its upside movement. 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 calls for a new upside. To conclude, as long as […]
