Wave summary: The break below support at 1.6958 told us that the top of red wave i was seen with the test of 1.7216 and red wave ii now is developing close to 1.6784. The correction in red wave ii has declined to a low of 1.6822, which could be correction enough for red wave […]
Wave summary: As long as important support at 131.60 is able to protect the downside, we still could see a final rally higher to 137.37 to complete wave (D). From near 137.37 or upon a break below support at 131.60 wave (E) lower to 123.43 is expected. R3: 133.49 R2: 133.00 R1: 132.42 Pivot: 131.60 […]
USD/JPY is currently residing below the resistance area of 114.30-50 which is expected to push the price lower towards 112.00-50 support area in the coming days. USD has been quite positive with the economic reports recently which pushed the price higher towards the resistance area of 114.30-50 before the price showed bearish intervention. This week […]
EUR/USD has been impulsively bearish yesterday after the ECB Press conference had postponed the tapering. After months of hawkish events of Euro, the currency has gained quite well against USD recently which is currently expected to lose some grounds in the coming days. Today EUR German Retail Sales report is expected show a growth to […]
When the European market opens, some Economic Data will be released, such as Italian 10-y Bond Auction, Spanish Flash GDP q/q, Spanish Flash CPI y/y, German Prelim CPI m/m, and German Retail Sales m/m. The US will release the Economic Data, too, such as Loan Officer Survey, Personal Income m/m, Personal Spending m/m, and Core […]
In Asia, Japan will release the Retail Sales y/y data, and the US will release some Economic Data, such as Loan Officer Survey, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So, there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: […]
The price has dropped strongly from last week and is now testing major support at 131.77 (Fibonacci extension, horizontal swing low support) and we expect to see a strong corrective bounce above this level to push the price up to at least 132.46 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (55,3,1) is seeing strong support […]
The price has dropped absolutely perfectly from our selling area as expected and is fast approaching our profit target. We remain bearish below 114.00 resistance (Fibonacci retracement, horizontal overlap resistance, big figure, bearish divergence, ascending support break) as we expect a strong push down to at least 131.16 support (Fibonacci retracement, horizontal overlap support). Stochastic […]
EUR/USD: This currency trading instrument consolidated from October 23 to 25, and then dropped about 230 pips on October 26 and 27. The support lines at 1.1550, 1.1500 and 1.1450 could be reached this week, as price drops further. The outlook on the market is bearish for this week, but bullish for November (the outlook […]
The index is forming a higher high pattern below the resistance zone of 95.14 and looks forward to reaching new highs in the short-term. If a breakout happens over there, we can expect a rally towards the 95.85 level. To the downside, nearest support lies at 94.60 and if USDX retraces below it, then we […]
The pair has resumed the bearish path below the 200 SMA and it’s currently forming a lower low pattern that could help to boost the bears in the short-term. With a break below the 1.3037 level, we can expect further declines toward the 1.2870 level, which should strengthen the bearish bias across the board. MACD […]
The risks of the EUR / USD pair correction continues to increase. The EUR / USD pair fell to the lowest level for the last three months after the announcement of the results of the ECB meeting. The EUR / USD pair fell to the lowest level in the last 3 months after the announcement […]
The Bitcoin (BTC) has been trading sideways at the price of $5.766. The central bank of Kazakhstan has submitted proposals to its government to restrict some cryptocurrency-related activities. However, the bank’s chairman admitted that he does not fully understand what cryptocurrency is. Experts also weighed in on the feasibility of banning crypto mining in the […]
Overview Stochastic crawling below 80 level contradicted the GBPJPY pair’s bullish attempts, to retest the initial support around 149.10, while the consolidation of this support around 50% Fibonacci correction level assists to reinforce the bullish bias domination and expect the attempt to gather new positive momentum to rally towards 151.60 level, while breaching this barrier […]
Overview The Gold price settled near our waited target at 1263.15, reminding you that this level represents 61.8% Fibonacci correction for the rise measured from 1204.81 to 1357.53, which means that breaking it will extend Gold price losses to reach 1240.85 direct, especially that the price moves within bearish channel supported by the EMA50. In […]
Overview Silver price returns to decline calmly and approach from the key support 16.56, and as we mentioned in our recent reports, holding above this level is important to continue the overall positive scenario, as breaking it will push the price to visit 15.49 areas before any new attempt to rise. Stochastic shows clear oversold […]
Stefan Ingves, CEO of Riksbank, expressed satisfaction with the condition of the Swedish economy. CPI inflation in the projection period should stabilize around the inflation target, he said, allowing a debate on the future of QE in the coming months. The forecasts made by Riksbank assume a rate hike in mid-next-year. The strength of the […]
The QE program has been changed as it was generally expected: the ECB will buy assets for EUR 30 billion a month until September 2018. The program was left without an end date, and at the conference, President Draghi stressed that no one is keen on sudden QE termination. In the coming months, the ECB […]
Recently, the Gold has been trading downwards. The price tested the level of $1,264.00. According to the 15M time – frame, I found that price is trading below the pivot level $1,271.00, which is a sign that sellers are in control today. There is also a hidden bearish divergence on the stochastic oscillator, which is […]
Recently, the USD/JPY has been trading upwards. The price tested the level of 114.31. According to the 15M time – frame, I found few doji candles and bullish breakout, which is a sign that buyers are in control. The price is trading above the pivot level (113.80), which is another sign of strength. My advice […]
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 […]
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. […]
Overview: Pivot: 0.6860. The NZD/USD pair didn’t make any significant moves yesterday. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 0.6760 or lower. The NZD/USD pair continues to move downwards from the zone of 0.6942 and 0.7880. Yesterday, the pair dropped from the level of 0.6942 to […]
Bitcoin is currently struggling to break above $6,000 price resistance level which is expected to be broken above in the coming days. The price has created higher lows which indicates pre-breakout structure with a Triangle pattern in the chart which is more likely to break upwards. After appearance of Bitcoin Gold, Bitcoin has been quite […]
Bitcoin analysis for 27/10/2017: More and more stock exchanges are being withdrawn from support for SegWit2x, but in the distance, there are already signs of the next fork. This time cryptocurrency market participants will be preparing for Bitcoin Silver. Bitcoin Silver developers have told Bitcointalk forum, that their plan is to make Bitcoin decentralized again. […]
Overview: The USD/CHF pair has broken resistance at the level of 0.9942, which acts as support now. So, the pair has already formed minor support at 0.9942. The strong support is seen at the level of 0.9898 because it represents the weekly pivot. In the H1 time frame, the RSI and the moving average (100) […]
EUR/CAD has been impulsively bullish recently resulting to surging up higher towards 1.5050-75 resistance area but yesterday due to dovish statements at ECB Press Conference and unchanged Minimum Bid Rate report EUR lost significant grounds against CAD. Recently CAD Overnight Rate report was published unchanged as expected at 1.00% which affected the growth of CAD […]
Yesterday’s ECB decision to keep interest rates unchanged and extend the QE program for another nine months was a predictable choice, so EUR/USD dipped towards the 1.1662 and GBP/USD towards 1.3082. USD/JPY went as high as 114.37. On commodity market Gold made a new local low at $1,267. The German DAX made a new high […]
USD/CHF has been quite impulsive recently after breaking above the 0.9860 resistance area. USD has been quite positive with the economic reports recently which resulted to further bullish pressure against CHF. Recently CHF UBS Consumption Indicator report was published with an increased figure of 1.56 from the previous figure of 1.50 and Credit Suisse Economic […]
The Dollar index is breaking to new higher highs as it remains in a bullish short-term trend. We might see a pullback but I give little chances that the upward move from 93.50 will end soon. Red line – resistance As we said yesterday, a break above recent double top at 94, would be a […]
