AUD/JPY has been quite bearish recently after bouncing off the 89.00 resistance area. AUD has been quite negative with the economic reports recently which helped JPY to gain momentum and push the price lower below 88.00. Recently published AUD CPI and Trimmed CPI was published with worse than expected result which directly affected the growth […]
EUR/USD: Following the initial bullish effort that was seen earlier this week, the market plummeted on Thursday, losing 170 pips. Price remains under the resistance line at 1.1650, and it may go towards the support line at 1.1600. Any rallies here would be temporary as price journey further southwards. The bias on the market is […]
Wave summary: As long as minor support at 1.6958 is able to protect the downside, we will be looking for more upside towards 1.7454 and 1.7777 as the next upside targets. If, however, minor support at 1.6958 gives away, that shifts the preferred if favor of wave i completing the test of 1.7216 and a […]
Wave summary: As long as minor short-term important support at 131.64 is able to protect the downside, we will be looking for more upside towards 137.37 to complete wave (D) and set the stage for a final decline in wave (E) towards 123.43. If, however, a direct break below 131.64 is seen that will indicate […]
The price is now testing our major support at 87.28 (Fibonacci extension, Elliott wave structure, swing low support, bullish divergence) and we expect to see a strong bounce above this level to push the price up to at least 87.75 resistance (Fibonacci retracement, breakout pullback resistance). Stochastic (34,3,1) is seeing strong support above 2.2% and […]
The price has dropped perfectly from our selling area and has reached our profit target. We are now seeing it at major support so the plan is to buy above 1.3112 (Fibonacci extension, horizontal swing low support) for a push up to at least 1.3229 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (21,3,1) is seeing […]
When the European market opens, some Economic Data will be released, such as German Import Prices m/m. The US will release the Economic Data, too, such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Advance GDP Price Index q/q, and Advance GDP q/q, so, amid the reports, EUR/USD will move in a low to […]
In Asia, Japan will release the Tokyo Core CPI y/y and National Core CPI y/y data, and the US will release some Economic Data, such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Advance GDP Price Index q/q, and Advance GDP q/q. So, there is a probability the USD/JPY will move with low to […]
USDX has been favored in the last few hours by a fresh momentum above the 200 SMA, which also has been acting as a dynamic support in the short-term. The focus now shifts towards the 94.56 level, which coincides with a key level for sellers to appear. To the downside, the strong support still lies […]
GBP/USD is piercing once again below the 200 SMA, confirming that it’s trapped in between a narrow range. That’s why we’re no clear in which is the dominant trend across the board, but still, we’re expecting a breakout lower. If the support level offered by October 20th lows give up, then we might see a […]
Eurozone Today, the ECB will hold a regular meeting on monetary policy issues. It is expected that the ECB will have its final decision to phase out the incentive program, which in the current structure should be completed in January 2018. Consolidated market expectations suggest that the regulator will prolong the asset repurchase program for […]
Global macro overview for 26/10/2017: Yesterday’s data on US Durable Goods Orders outperformed estimates – the September increase was 2.2% on monthly basis and beat the expectations of 1.0%. Moreover, orders without transport and aviation increased 1.3% on monthly basis. Shipments of capital goods excluding aircraft and military equipment rose an annualized 10.6% in the […]
Global macro overview for 26/10/2017: The Bank of Canada decided to maintain the overnight rate at 1.0%, which was widely expected by the surveyed market participants. Investors are reminded of a more cautious approach to future rate hikes and that economic growth in Canada will probably be lower next year than it was this year. […]
The Bitcoin (BTC) has been trading upwards. The price tested the level of $5.866. Singapore has no plans to regulate cryptocurrencies such as bitcoin, according to the head of the Monetary Authority of Singapore. However, some laws are being formalized that could apply to some cryptocurrency activities and initial coin offerings (ICOs). Technical picture looks […]
Recently, the XAU/USD has been trading upwards. The price tested the level of $1,282.57. Anyway, according to the 15M time – frame, I found that there is a breakout of intraday rising wedge in the background, which is a sign that buying looks risky. There is also a fake breakout of pivot resistance 1 at […]
zd Overview: The USD/CHF pair is still trading in the bullish trend from the support spot of 0.9870- 0.9900. On the H4 chart, the price is in a bullish channel. This is confirmed by the RSI indicator signaling that it is still in a bullish trending market. As the price is still above the moving […]
Overview: As expected, 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 0.6942 which coincides with a ratio of 23.6% Fibonacci on the H4 chart. Today, resistance is seen at the levels of 0.6945 and 0.7033. So, we expect the […]
Recently, the GBP/USD has been trading upwards. The price tested the level 1.3278. Anyway, according to the 15M time – frame, I found a fake breakout of yesterday’s high at the price of 1.3270, which is a sign that buying looks risky. There is also a testing of intraday Fibonacci retracement 61.8% at the price […]
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. […]
NZD/USD recently rejected 0.7170 resistance area which leads to impulsive bearish pressure in the market taking the price lower towards 0.6850 support area. NZD has been quite negative with the economic reports recently which helped the USD to gain impulsively on the bearish side towards the support area. Yesterday the market was quite indecisive, and […]
As expected, the US dollar index pulled back off the 94 resistance area towards the short-term support of 93.50 as we mentioned in yesterday’s analysis. The trend remains bullish as the price is still above cloud support and inside the bullish channel. Black lines – bullish channel The dollar index is trading inside the bullish […]
EURUSD: Still going up? Morning review. So, the euro on Wednesday turned to growth, reaching 1.1830 by the night. Ahead of the zone of day levels 1.1860 – 1.1880, with the break of their very likely movement at least to 1.2080. Today, as everyone remembers, I think. The ECB (decision at 12.45 press conference Draghi […]
Gold is bouncing as expected. However, the price remains below the 4hour Kumo (cloud) while testing the first important short-term resistance by the kijun-sen at $1,283. The short-term trend remains bearish but we have several indications that the low could already be in. Red lines – bullish wedge pattern Gold price has broken out of […]
Bitcoin analysis for 26/10/2017: Cointelegraph reported yesterday that the largest US digital currency stock exchange Coinbase will continue to refer to BTC as “real” Bitcoin, while SegWit2x as “B2X” will be treated equally with the altcoins. This decision triggered widespread support from the cryptocurrency community, and many claimed it was a nail in the coffin […]
EUR/USD: The pair has gone upwards this week which has resulted in a bullish signal. Now it is above the support line at 1.1800, going towards the resistance line at 1.1850 (the first target), After that, another resistance line at 1.1900 would be targeted. Some fundamental figures are expected today and they may have an […]
Last minute burning forecast 26.10.2017 GBPUSD: the way to the top. On Wednesday, our assumptions were confirmed: the pound chose the path to the top. The reason: the release of a strong data on the economy of Britain. The GDP grew at the level of +1.5% per annum, above the forecast of +1.4%. Inflation is […]
Trading plan for 26/10/2017: The currency market drifted during the Asian session, but a fall on Wall Street is sustained by the temporary weakness of the USD. EUR is slightly higher before the ECB interest rate decision. Nothing interesting happens on the oil market, while gold uses the dollar’s weakness and extends the bounce. On […]
AUD/USD has been impulsively bearish recently breaking below the support level of 0.7750. AUD has been quite negative with the economic reports recently which lead to a drastic fall of the currency against USD. Yesterday AUD CPI report was published with worse than expected value of 0.6% was expected to be at 0.8% which previously […]
Wave summary: EUR/NZD continues to push higher and has now cleared the channel resistance-line, which also what one would expect during wave (iii). We continue to look for minor support at 1.7085 and more importantly for support at 1.6958 to protect the downside for the next rally higher towards the 1.7777 target. R3: 1.7454 R2: […]
