Recently, the GBP/USD pair has been trading sideways at the price of 1.3167. According to the 15M timeframe, I found a successful rejection from the pivot point resistance at the price of 1.3227, which is a sign that buying looks risky. I also found a hidden bearish divergence on the MACD oscilator, which is another […]
Overview: Last week, the EUR/USD pair fell from the level of 1.1836 towards 1.1716. However, the trend rebounded to the key level around the spot of 1.1873/1.1800. Right now, the price is set at 1.1804. The resistance is seen at the levels of 1.1836 and 1.1911. Volatility is very high for that the EUR/USD pair […]
USD/JPY has been impulsively bullish recently which is pushing the price towards 114.50 resistance area. The price started today with a gap which was due to positive speech from Yellen about the US economy and a rate hike in December. Today there was no economic reports or events on JPY but tomorrow we have the […]
EUR/USD: This pair moved downwards on Monday and Tuesday, turned higher on Wednesday and Thursday and then came down on Friday. The erratic (zigzag) movement has resulted in a neutral bias, which would be overridden this week as the price goes above the resistance line at 1.1900, or it would go below the support line […]
Bitcoin analysis for 23/10/2017: Research by CB Insights shows that Goldman Sachs, Google and Citi Bank are among the five most active corporate investors in Blockchain. According to the report, financial services companies and major banks were the first corporate users of the technology. On the basis of the information contained in the report, as […]
Trading plan 23 – 10/27/2017 Catalonia, ECB, important news in the United States. The beginning of the week is nervous because of Catalonia. Literally at the current hour (08.30 London time) in Catalonia, a meeting of leaders of separatists and authorities of Catalonia will begin to give Madrid’s response to tough statements. The Prime Minister […]
Trading plan for 23/10/2017: USD/JPY touched three-month highs after Prime Minister Abe’s victory in the Japanese election. The Nikkei shows a positive reaction while other markets remain stable in the face of today’s lackluster publication. EUR/USD stands at 1.1770 and investors do not show much interest in the political dispute in Spain. On Monday 23rd […]
Last minute burning forecast 23.10.2017 The GBPUSD rate is upwards. At the beginning of the week, pressure remains on European currencies due to the Catalonia-Spain crisis. During the weekend, the crisis escalated further. In addition – the authorities of Madrid (Prime Minister M. Rajoy) – threatened to set aside the head of Catalonia and abolish […]
The Dollar index has broken above the short-term trend line resistance and back above the 4 hour Ichimoku cloud. Short-term trend is bullish. The price has held above 93 on any attempt so far to break it so we can’t ignore the bullish support the index has. Blue line – trend line resistance (broken) The […]
The Gold price got rejected last week and has made a new short-term low below $1,277. Price is making new lows but the RSI is not. The price remains close to the 61.8% Fibonacci retracement of the latest rise but the weekly chart warns that unless we see a swift reversal upwards, we could push […]
EUR/USD has been quite corrective in nature which has shown some impulsive bearish pressure inside the range between 1.1660 to 1.2040 area. USD has been quite positive with the economic reports recently which lead to further bearish pressure in the pair against EUR. The recent situation in Spain has been quite a bit of pressure […]
Wave summary: We continue to look for more upside pressure towards 1.7208 and above here, will confirm continuation higher towards 1.8000. Short-term support is seen at 1.6816, which ideally will protect the downside for the expected rally higher to 1.7208 and above. That said, the minor correction from 1.6593 could extend closer to 1.6745 before […]
Wave summary: With wave (D) revived more upside pressure to 137.37 is expected. We are currently looking for a break above 134.41 to confirm the final rally higher towards the ideal wave (D) target near 137.37 from where wave (E) lower is expected to take over. Short-term support is seen at 133.50, which ideally will […]
When the European market opens, some Economic Data will be released, such as Consumer Confidence and German Buba Monthly Report. The US today will not release any Economic Data, so, amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Breakout BUY Level: 1.1812. Strong Resistance:1.1805. Original […]
Today, Japan and the US will not release any Economic Data. So, there is a probability the USD/JPY will move with low volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 114.44. Resistance. 2: 114.21. Resistance. 1: 114.00. Support. 1: 113.72. Support. 2: 113.50. Support. 3: 113.28. Disclaimer: Trading Forex (foreign exchange) on margin carries […]
Eurozone The most important event of the upcoming week is the ECB meeting on Thursday, October 26. Investors expect that the regulator will finally announce a reduction in the asset purchase program, and the whole issue consists only in the volume of the reduction. At the moment, monthly purchases amount to 60 billion euros a […]
The headline reading, Retail Sales With Auto Fuel, was released at the level of -0.8% after 0.9% increase a month ago. The market consensus was at the level of -0.1.%. Moreover, the data indicated that the underlying pattern in the retail industry is one of growth; for the three-months on three-months measure, the quantity bought […]
The recent comments from Bank of Japan Governor Kuroda did not cause any substantial reaction on financial markets. During his today’s speech, he reiterated that weakness on the price front is going on and prices will rise towards 2%, so this was nothing new for market participants. In late September, Japanese Prime Minister Shinzo Abe […]
Bitcoin has been quite corrective after the recent impulsive bullish bounce off the $5,000 support area. The bullish trend is expected to push the price higher towards $6,000 price level but ahead of the upcoming November Bitcoin Split the price seemed to be correcting itself in the run to the upcoming volatility in the market. […]
USD/JPY is expected to continue the upside movement. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index is above its neutrality level at 50 and lacks downward momentum. To conclude, as long as 112.70 is not broken, look for […]
USD/CHF has been quite volatile with bullish gains and is currently trading inside the resistance area range between 0.9770 and 0.9860. USD has been quite positive amid economic reports recently which helped the US currency to gain over CHF and counter well. Recently, Switzerland’s Trade Balance report was published with an increased figure of 2.92B […]
Our first target which we predicted in yesterday’s analysis has been hit. NZD/USD is still uder pressure. The pair accelerated on the downside and is trading below its descending 50-period moving average. The relative strength index is below its neutrality level at 50. To conclude, as long as 0.7060 holds on the upside, look for […]
Overview: The USD/CHF pair continues to move upwards from the level of 0.9744. Since the trend is above this level, the market is still in an uptrend. Furthermore, the trend is still strong above the moving average (100). The USD/CHF pair didn’t make any significant movements yesterday. Hence, the market is indicating a bullish opportunity […]
Overview: The NZD/USD pair has dropped sharply from the level of 0.7067 towards 0.6972. Now, the price is set at 0.6985 to act as a minor suport. It should be noted that volatility is very high for that the NZD/USD pair is still moving between 0.7020 and 0.6900 in coming hours. Furthermore, the price has […]
Bitcoin analysis for 20/10/2017: On October 16, Ilan Goldfajn, president of the Central Bank of Brazil (Banco Central do Brasil), disregarded Bitcoin. He said: “Bitcoin is a financial asset without the ballast people buy because they believe it will grow. This is a typical bubble or pyramid.” Many huge jumps in value made Goldfajna’s unfavorable […]
Trading plan for 20/10/2017: The US Senate approved the budget for 2018 yesterday. In the first reaction, EUR/USD fell from around 1.1850 to 1.18. USD/JPY shot up to 113.30 and GBP/USD went down at 1.31. US Dollar gains versus other majors without exception and in the Asian session, the weakest are JPY and NZD and […]
Burning forecast 10/20/2017 The crisis of Catalonia played against the pound – but the trend has not been reversed. We continue to buy the GBPUSD pair. On Thursday, the rate of the pound along with the euro came under selling pressure. I believe that this is due not only because of the U.K.’s difficult negotiations […]
Trading plan 10/20/2017 Euro cannot determine the direction, but the traffic is close. The pair EUR/USD attempted to organize growth rate on Thursday, but for the third time in a week, it could not overcome the downward resistance line of the day order (the TD-line, or Tom DeMarck’s line, is marked by a thick line […]
EUR/CAD has been impulsively bullish recently, heading upwards. CAD has weakened amid recent economic reports that helped EUR to gain momentum against. Today, German PPI report was published with a positive figure, showing an increase to 0.3% from the previous value of 0.2% which was expected to decrease to 0.1%. Besides, Current Account report is […]
The Dollar index reached the short-term 93 support level and bounces higher now. Price is in a short-term neutral trend as the index is mainly moving sideways between 94-93 levels. Blue line – resistance trend line Rectangle – support The Dollar index has reached the upper boundary of the 4-hour Kumo (cloud). 93.50 is the […]
