In Asia, Japan will release the SPPI y/y data, and the US will release some Economic Data, such as Natural Gas Storage, Pending Home Sales m/m, Prelim Wholesale Inventories m/m, Goods Trade Balance, and Unemployment Claims. So, there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL […]
The price has reached our selling area perfectly and continues to test that level. We remain bearish looking to sell on major resistance at 134.36 (Fibonacci extension, Elliott wave theory, horizontal swing high resistance) for a push down to at least 133.16 support (Fibonacci retracement, horizontal swing low support). Stochastic (34,3,1) is seeing major resistance […]
The price has shot up perfectly from our buying area and is fast approaching our profit target. We prepare to sell below major resistance at 1.1855 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) for a push down to at least 1.1747 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,3,1) is seeing major resistance at […]
Recently, the EUR/CHF has been upwards. The price tested the level of 1.1698. Anyway, according to the 15M time – frame, I found triangle formation in creation, which is a sign that buying looks risky. I also found a fake breakout of pivot resistance 1, which is another sign of weakness. My advice is to […]
The renewal of the October low will increase the risks of continuing the southern campaign of XAU / USD pair. The “bears” are inspired for XAU / USD for new attacks because of the victory of Shinzo Abe’s party in the parliamentary elections in Japan, the departure into the shadows of the North Korean issue, […]
Global macro overview for 25/10/2017: The Bank of Canada Overnight Rate decision will be published today. The market participants expect BoC to keep the overnight rate a 1.0%. With the decision, a Monetary Policy Report will be published with an update of economic forecasts. The BoC press conference is scheduled at 03:15 pm GMT.After two […]
Global macro overview for 25/10/2017: Australia’s September quarter consumer price inflation (CPI) report has come in well below expectations. The market participants expected an increase from 0.2% to 0.8%, but according to the Australian Bureau of Statistics (ABS), headline CPI rose by 0.6% over the September quarter. On a yearly basis, the CPI decreased from […]
Recently, the USD/JPY has been upwards. The price tested the level of 114.24. According to the 15M time – frame, I found that buyers are in control and price is trading above the pivot level (113.72). I also found successful testing of supply in a rising market, which is another good indicator for further upward […]
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. […]
The Bitcoin (BTC) has been trading downwards. As I expected, the price tested the level of $5.358. A parliamentary audit of the Bank of Korea revealed that it has done “poor” research on digital currencies including bitcoin and ether. The central bank’s governor told lawmakers that digital currency is not currency and promised to conduct […]
USD/CAD is recently quite low in liquidity having very little volatility in the market this week ahead of the CAD Rate Statement and Overnight Rate report. Today there is a number of high impact economic reports is going to be published on CAD which is expected to inject high volatility in the market which is […]
EUR/JPY has been impulsively bullish recently after bouncing off the 131.70-132.50 support area. EUR has been quite dominant over JPY recently due to positive economic reports from the Eurozone and hawkish statements from the ECB which helped the currency to maintain gains. European economic reports were quite mixed this week but they helped the currency […]
Bitcoin analysis for 25/10/2017: Japan is now the cryptocurrency superpower, accounting for about 63% of Bitcoin’s worldwide turnover. However, bans introduced in other Asian countries are alarming investors fearing that it might happen to Japan as well. Japan recognizes Bitcoin as a legal means of payment and is, therefore, the largest user of this cryptocurrency. […]
Trading plan for 25/10/2017: The Australian Dollar heavily loses after surprisingly weak CPI reading. President Trump’s mini-poll on the future Fed chief was positively received by the USD. EUR/USD is trading above 1.1750, USD/JPY cannot go above 114.00. Despite the uptrend on Wall Street, the Nikkei is finally breaking its uptrend and falls 0.6%. Hang […]
Trading plan 25/10/2017 EUR/USD: Narrow consolidation requires an exit and strong movement. The EUR/USD rate was stuck in the horizontal range of 1.1720 – 1.1860, the borders received a daily order in time. The exit was ripe and the movement was strong. It is very likely that the exit from the range will occur on […]
EUR/USD: The EUR/USD has not moved significantly this week. However, a movement that is directional is expected soon, which either would 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: The USD/CHF […]
Last minute burning forecast 25.10.2017 GBPUSD: We are waiting for a strong move on the news. The beginning of the week passed in a narrow consolidation: the market is preparing for the move – probably on the news. We prefer buying – down to a decline to 1.3030 – because the support line of the […]
The Dollar index is back near its highs just below 94 but with RSI diverging, I believe we will not break convincingly above 94. I expect at least a short-term pull back towards 93.50 at least. The trend remains bullish. Red trend line -support The Dollar index is making higher highs and higher lows. Short-term […]
The Gold price has made new lows earlier today but the oscillators are not following to new lows. The trend remains bearish. There is a bullish wedge pattern in play, and a breakout should signal the start of the next upward leg. Blue lines – downward sloping wedge Red lines – expected price path Gold […]
GBP/USD has been quite corrective recently which is currently showing some bearish pressure closing below 1.3150 support level with a daily candle. The weakness of Pound is driven by the Brexit impact and expected the weaken further in the coming days whereas US rate hike is expected to happen in December. Today GBP Prelim GDP […]
Overview: The USD/CHF pair is still trading in the bullish trend from the support spot of 0.9810- 0.9836. 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 average […]
Overview: The NZD/USD pair didn’t make significant movement yesterday. There are no changes in my technical outlook. The bias remains bullish in nearest term testing 0.6849 or lower. 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 […]
Wave summary: EUR/NZD is now testing the channel resistance-line near 1.7040, which could cap the upside for the short-term and cause a new minor correction close to 1.6784 before the next strong rally should be expected for a clear break above the channel resistance-line this time and a continuation higher to 1.7777. Short-term a break […]
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. […]
