USD/CAD has been quite corrective recently inside the range of 1.2420 to 1.2660. USD has been weighed down by weak economic reports recently whereas a positive report from Canada today helped with CAD gains. Recent FOMC minutes were bearish for USD which led to further weakness against CAD. Nevertheless, the bias is bullish in the […]
USD/JPY is expected to continue its upside movement. Despite the pair retreated from 112.45 (the high of October 17), a support base at 112.25 has formed and has allowed for a temporary stabilization. Even though a continuation of consolidation cannot be ruled out, its extent should be limited. Hence, as long as 112.25 is not […]
Global macro overview for 18/10/017: One of the most anticipated political events this autumn has just begun – the Communist Party of China, which takes place every five years, is gathering to elect new authorities (including the president) and set new political goals. President Xi Jinping’s speech did not bring surprises, but for the markets […]
Global macro overview for 18/10/017: Estimates from the German ZEW Economic Sentiment index prepared by the Mannheim Institute were worse than expected. The rating component of the German ZEW Current Situation index was 87.0 points (previously: 87.9 points) against the expected increase of 0.6 points. Another disappointment was the German ZEW Economic Sentiment index (17.6 […]
The Bitcoin (BTC) has been trading downwards. The price tested the level of $5.231. Dutch bank ING is flustered over the fact bitcoin consumes so much energy. Recently, the bank released a report saying bitcoin transactions consume as much electricity as a house does in a month. They seem to believe this is problematic since […]
Recently, Gold has been trading downwards. The price tested the level of $1,278.90. According to the 15M time – frame, I found that sellers are in control and that pivot support 1 at the price of $1,278.95 is on the test. If the price breaks the S1, watch for potentential selling opportunities. The downward targets […]
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. The price zone of 0.7150-0.7230 (Key-Zone) stood as a temporary resistance zone until a bullish breakout was expressed above 0.7230. This resulted in a quick bullish advance towards […]
Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.3139. According to the 15M time – frame, I found strong rejection from sellers at the pivot point at the price of 1.3212, which is a sign that buying looks risky. Stochastic oscilator is in the overbought zone, […]
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/JPY has been quite corrective and volatile recently after a period of bearish pressure, bouncing off from 133.50 resistance area. JPY has been quite stronger than EUR recently which led to bearish pressure but the long-term trend is still very bullish which is expected to push the price higher again in the coming days. Today […]
The dollar slowly but surely returns with the initiative of preparing for a protracted growth, and there are several reasons for increasing demand for it. The volume of industrial production in September increased by 0.3% compared to August, which is the first increase since June. It shows that the industry has overcome the consequences of […]
Bitcoin analysis for 18/10/2017: Users of Blockchain will be able to have their Bitcoin Cash. On October 11, the company announced that it was allowing customers to access their BCH resources. Blockchain informed about his support for the board yet in August. Users have not been able to sell or transfer their Bitcoin Cash yet. […]
EUR/USD: There is a “sell” signal on the EUR/USD pair. The EMA 11 has crossed the EMA 56 to the downside, and the Williams’ % Range period 20 is in the oversold territory. The support line at 1.1750 has been tested and it would be tested again, as price goes towards another support line at […]
Trading plan for 18/10/2017: The FX market remains tight and stock indices consolidate recent gains. Gold reverses Tuesday’s gains and Crude Oil is rallying higher by a good API report. The 19th Congress of the Communist Party of China has started, but so far the conference has brought more pompous language than the announcement of […]
Trading plan 10/18/2017 The overall picture – EUR/USD: We are preparing a breakout of the range for the Fed. On Tuesday, trading on the market was calm in the absence of strong news. Our recommendations are the same. We are waiting for the release of EUR/USD from the range and preparing inputs for a breakthrough. […]
Breaking forecast 10/18/2017 EURUSD: We are preparing a breakout of the range for the Fed. On Tuesday, trading on the market was calm in the absence of strong news. Recommendations for trading are the same – wait for the release of EURUSD from the range and preparing inputs for a breakthrough. The output looks more […]
The Dollar index is in a bullish short-term channel breaking above the 4-hour cloud resistance. Price is approaching the 61.8% Fibonacci retracement of the recent decline. A rejection around this area will be a bearish sign and what I expect. The upward bounce is considered corrective. Blue lines – bullish channel The Dollar index is […]
Gold price is near short-term support of $1,280-82. Gold price should bounce from current levels and break above $1,303 in order to move towards $1,400 to get started. Otherwise, we are in danger of moving lower towards $1,277 where the 61.8% Fibonacci retracement is found. Gold price is at the upper Kumo (cloud) boundary and […]
Overview: The USD/CHF didn’t make significant movement yesterday. There are no changes in my technical outlook. The bias remains bullish in nearest term testing 0.9836 or higher. Today, the USD/CHF pair is showing signs of strength following a breakout of the highest level of 0.9734. On the H1 chart. the level of 0.9734 coincides with […]
Overview: As expected, the trend is still trading around the zone of 0.7128-0.7150. It should be noted that the support is established at the level of 0.7128 which represents the 38.2% Fibonacci retracement level on the H1 chart. Also, it might notice that a weekly pivot point is seen at the price of 0.7128. Hence, […]
Wave summary: We are looking for wave b to move higher to at least 1.6475 and possibly even closer to resistance at 1.6529 before turning lower in wave c towards 1.6160 to complete wave ii. Short-term minor support is seen at 1.6410, which is expected to protect the downside for a continuation higher to 1.6475 […]
Wave summary: The decline in EUR/JPY has stalled at the 131.70 support, It should be a matter of time before this support is broken for a continuation lower towards 130.73 and possibly even lower. Short-term we expected minor resistance at 132.38 will continue to cap the upside for the break below 131.70. R3: 132.92 R2: […]
When the European market opens, some Economic Data will be released, such as German 30-y Bond Auction. The US will release the Economic Data, too, such as Beige Book, Crude Oil Inventories, Housing Starts, and Building Permits, so, amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL […]
In Asia, Japan today will not release any Economic Data, but the US will release some Economic Data, such as Beige Book, Crude Oil Inventories, Housing Starts, and Building Permits. So, there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 112.75. Resistance. 2: […]
The price has continued to drop further as we look to buy above major support at 1.1747 (Fibonacci retracement, horizontal overlap support) for a push up to at least 1.1878 resistance (Multiple Fibonacci retracements, horizontal overlap resistance, Fibonacci extension). Stochastic (89,5,3) is seeing major support above 1.1% where we are expecting a bounce from. Buy […]
The price is approaching major support a t0.7146 (Fibonacci retracement, horizontal overlap support) and we expect to see a strong bounce off that level to push the price to at least 0.7345 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,3,1) is seeing strong support above 0.9% where we expect to see a corresponding bounce from. […]
The index was under a buying interest across the board, pushing higher above the 200 SMA on the H1 chart. Currently, it is targeting the resistance level of 94.58, at which lies a key barrier for buyers. With a pullback below 93.35, we can expect a leg lower towards the psychological level of 93.00. The […]
The pair is resuming the bearish bias below the 200 SMA and looks to test the October 12th lows. If it manages to rebound around that area, we can expect another testing of the resistance level of 1.3309. However, odds are still on the bearish side and the next target is placed at the 1.3216 […]
Markets can be punished for conceit. For a long time, investors ignored geopolitical risks and were confident that the North Sea grade of oil would be quoted within the range of $40-60 per barrel for long term. The is because the prices increased above the resistance level that will probably increase production in the U.S., […]
GBP/USD has been quite bearish recently after bouncing off the resistance area of 1.3270-1.3330. GBP has been quite weak in nature recently due to the Brexit effect but PM May recently spoke about positive results in Brexit talks that did not quite help the currency to gain momentum. Today, a series of downbeat economic reports […]
