Wave summary: EUR/NZD continues to rally nicely and as expected. We expect minor support at 1.6648 will be able to protect the downside for the next rally higher to 1.6824 that should complete red wave iii/ and set the stage for a shallow sideways consolidation in red wave iv/ before moving higher towards 1.7005 in […]
Wave summary: With a little detour to 132.45 wave C moved higher and has now spiked the 133.25 target. We continue to view the entire consolidation since the low of wave A at 131.70 as a corrective B-wave. Corrective B-waves are the most difficult to decipher and trade, because of the multiple different paths they […]
EUR/USD: The EUR/USD has now gone upwards by 130 pips. Price is above the support line at 1.1850; going towards the resistance lines at 1.1900, 1.1950 and 1.2000. These are the ultimate targets for the week, for there is a Bullish Confirmation Pattern in the 4-hour chart. USD/CHF: From the resistance level at 0.9800, this […]
We remain bearish with price testing two major Fibonacci retracement levels at 50% and 61.8% where we expect a reaction from. We adjust our stop loss to 1.1948 right above the gap to give this trade a bit more breathing space. The goal is to continue to sell below 1.1878 resistance (Fibonacci retracement, horizontal overlap […]
The price has continued to rise nicely to our major resistance area as expected. We prepare to sell on major resistance at 1.3269 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction off this level to push the price down to at least 1.3032 support (Fibonacci retracement, horizontal swing low support). Stochastic (34,3,1) […]
When the European market opens, some Economic Data will be released, such as Industrial Production m/m and French Final CPI m/m. The US will release the Economic Data, too, such as Federal Budget Balance, 30-y Bond Auction, Crude Oil Inventories, Natural Gas Storage, Core PPI m/m, Unemployment Claims, and PPI m/m, so, amid the reports, […]
In Asia, Japan will release the Tertiary Industry Activity m/m, PPI y/y, and Bank Lending y/y data, and the US will release some Economic Data, such as Federal Budget Balance, 30-y Bond Auction, Crude Oil Inventories, Natural Gas Storage, Core PPI m/m, Unemployment Claims, and PPI m/m. So, there is a probability the USD/JPY will […]
After a prolonged fall in September, gold returns to the game and grows over three trading sessions in a row amid growing uncertainty around North Korea and Catalonia. Russian officials assured that it is ready to launch a long-range missile after the visit to Pyongyang. Moreover, the President of Catalonia signed the Declaration of Independence. […]
Breaking forecast 10/11/2017 Catalonia fueled the rise of EURUSD. On Tuesday evening, the head of Catalonia said that he was postponing proclamation of independence. The embers of the Catalan Parliament signed a declaration of independence – but it has no legal force. The authorities of Catalonia withdrew, faced with strong resistance from both the Spanish […]
Global macro overview for 11/10/2017: Kerstin af Jochnick, first deputy governor of Riksbank, in his speech today decides to uphold the position of the remaining members of the Swedish central bank. Jochnick is optimistic about rising inflation trends and the influx of more satisfactory data. In her opinion, Riksbank must have relatively stable land for […]
Global macro overview for 11/10/2017: The event of the day is the September’s Fed Meeting Minutes release accompanied by the publication of new projections and the Chairperson Jannet Yellen conference. For this reason, attention will be focused primarily on the distribution of forces between the supporters of the thesis that the weakness of inflation being […]
The Bitcoin (BTC) has been trading downwards. The price tested the level of $4.692. The President of the Russian Federation, Vladimir Putin, held a meeting on Tuesday to discuss cryptocurrencies. It was attended by top regulators including the central bank governor, her deputy, and the finance minister. While Putin acknowledged the risks associated with cryptocurrencies, […]
Recently, the GBP/USD has been trading downwards. The price tested the level of 1.3180. According to the 15M time – frame, I found breakout of 3-day upward channel, which is sign that buying looks risky and that sellers started distribution. There is also a hidden bearish divergence on the moving average oscillator, which is another […]
Recently, Gold has been trading sideways at the price of $1,289.00. According to the 15M time – frame, I found that price has broken the upward channel in the background, which is a sign that buying looks risky. I also found a bearish flag (bearish pattern) in creation, which is another sign of weakness. My […]
Technical outlook: The EUR/USD pair looks to have terminated its first leg labelled as A, within its 3 waves A-B-C corrective rally towards 1.1900/30 levels going forward. A short-term chart view presented here already suggests that the pair should be now looking to drop lower terminating into wave B around 1.1730 levels before turning bullish […]
Today, the minutes of the September 20 meeting of the Federal Open Market Committee (FOMC) will be published. The text of the protocol is of interest from the point of view of assessing the financial risks that the US economy may face in the process of tightening financial conditions. The policy of a strong dollar, […]
USD/CHF has been volatile with bullish gains that is expected to come to an end as bearish pressure is already emerging in the market now. USD has been quite mixed amid economic reports for the last few weeks which have helped the American currency to develop a corrective volatile bullish bias. But recent positive economic […]
Daily Outlook In February 2017, the depicted short-term downtrend was initiated around the depicted supply zone (0.7310-0.7380). However, 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 […]
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. […]
Bitcoin analysis for 11/10/2017: Bitcoin developer Xapo said it would not necessarily treat the BTC as “real” Bitcoin after the SegWit2x update. When discussing Bitcoin Cash, which was launched in July, Xapo CEO Wences Casares confirmed that Bitcoin would be “the most difficult chain”. This move is a strong appeal to support the SegWit2x chain […]
Trading plan for 11/10/2017: The Japanese Nikkei 225 index closes at highest level since 1996. The European indices follow the sentiment in Asia and open higher as well. EUR/USD is trading close to 1.1830 resistance, USD/JPY is trading at 112.41, virtually unchanged. Gold declines a little and Crude Oil rally towards $51.21 level. On Wednesday, […]
EUR/USD: A bullish signal has been generated on the EUR/USD pair. Price has gained more than 80 pips this week, and it is now above the support line at 1.1800, going towards the resistance line at 1.1850 (the initial target). There are other targets at the resistance lines of 1.1900 and 1.1950, which would soon […]
USD/JPY is expected to trade with a bullish outlook. Although the pair made a pullback, it is still trading above its rising 50-period moving average. The relative strength index is above its neutrality level at 50 and lacks downward momentum. Therefore, as long as 112.15 is support, a further upside to 112.55 and even to […]
GBP/JPY is expected to trade with a bullish outlook above 147.80. The pair has turned up and is likely to continue a new rebound. The rising 20-period and 50-period moving averages play well support roles. Besides, the relative strength index is bullish, calling for further upside. Therefore, as long as 147.80 is not broken, look […]
GBP/USD has been in a non-volatile bearish trend recently and currently residing below the resistance level of 1.3220. There has been some tension growing about the Brexit process and Prime Minister May is going through tough times. Moreover, No-deal Eurozone talk is expected to hit the UK economy badly and lead to further weakness of […]
Wave summary: EUR/NZD is currently testing the “old” top at 1.6690, but it should just be a matter of time before a break above here is seen as a continuation higher to 1.6712 and 1.7038 as the next upside targets. Support is now seen at 1.6563, which should be able to protect the downside for […]
Wave summary: The break above minor resistance at 132.77 indicates that wave B still is developing and likely will spike higher to 133.25 before tuning lower towards 130.52 and likely even closer to 128.85. A break below support at 132.64 will indicate that wave C lower towards at least 130.52 is developing. R3: 133.25 R2: […]
When the European market opens, there is no Economic Data will be released from the Euro Zone, but the US will release the Economic Data, such as FOMC Meeting Minutes, 10-y Bond Auction, and JOLTS Job Openings, so, amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL […]
In Asia, Japan will release the Prelim Machine Tool Orders y/y, 30-y Bond Auction, and Core Machinery Orders m/m data, and the US will release some Economic Data, such as FOMC Meeting Minutes, 10-y Bond Auction, and JOLTS Job Openings. So, there is a probability the USD/JPY will move with low to medium volatility during […]
Overview: The NZD/USD didn’t make significant movement yesterday. There are no changes in my technical outlook. The bias remains bearish in the nearest term testing 0.7000 or higher. Immediate support is seen around 0.7087. The NZD/USD pair fell from the level of 0.7128 towards 0.7087. Now, the price is set at 0.7069 to act as […]
