Recently, the EUR/USD pair has been trading sideways at the price of 1.1810. According to the 15M time – frame, I found an evening star formation in creation, which is warning that buying looks risky. The price is trading below the pivot point (1.1835). I found overbought Stochastic, which is another sign of weakness. My […]
Recently, the GBP/USD pair has been trading sideways at the price of 1.3300. According to the 15M time – frame, I found doji candles and bearish enguling pattern around the pivot point (1.3290), which is a sign that a buying looks risky. There is an overbought stochastic oscilator, which is another sign of weakness. My […]
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. The price zone of 0.7150-0.7230 (Key-Zone) stood as a temporary resistance zone until a bullish breakout was expressed above 0.7230. This resulted in a quick bullish advance towards […]
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 16/10/2017: According to the news that broke through Russian Minister of Communications Nikolay Nikiforov, in a meeting behind the closed door, the Russian Federation President Vladimir Putin has officially stated that Russia will issue its own “CryptoRuble” digital currency. This cryptocurrency cannot be mined and will be issued, controlled and maintained only […]
Trading plan for 16/10/2017: The first trading hours this week bring little traffic to the currency market. Data from China have gone unnoticed; nervous reactions also are not seen after the election results in Austria. Crude Oil goes up for fear of new sanctions for Iran. EUR/USD is trading around the level of 1.1800, USD/JOY […]
Breaking forecast 10/16/2017 EURUSD: Prepare to break the boundaries of the range. The situation on EURUSD is uncertain. Last week, its rise stopped – buyers faced strong resistance from sellers in the zone of 1.1870-1.1880. At the same time, it’s too early to talk about a full reversal. Formed a range within the boundaries of […]
Trading plan 16 – 10/20/2017 The general picture: News did not clarify. Last week there were two main events: The ECB and news on inflation in the US. The ECB unexpectedly merged information about the decline in the QE program 2 times since January (from 60 billion euros to the market every month to 30). […]
The Dollar index has not managed yet to make a correction up to the 38% Fibonacci retracement. Price is below the Kumo (cloud) implying weakness and inability to bounce harder. The Dollar index is trading between the kijun- and the tenkan-sen. Price is below the Kumo (cloud) in the 4-hour chart. Trend is bearish and […]
Gold price is making new higher highs today in early trading. Price has broken through the 38% Fibonacci retracement very easily as it should, since we are in a bullish trend towards new highs. Longer-term view on gold price remains bullish looking for a move above $1,400. Gold price is trading above both the tenkan- […]
Overview: 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 is still […]
EUR/NZD – Daily EUR/NZD – 4 Hourly Wave summary: The deep decline from 1.6760 is not consistent with our previous count, therefore we have been forced to revise our count from the 1.4536. The rally to 1.6237 is now labeled as wave (i) and the corrective decline to 1.5237 as wave (ii) and the ongoing […]
EUR/JPY – Weekly EUR/JPY – 4 Hourly Wave summary: We continue to look for wave C towards at least 130.73 and possibly even lower as wave (E) of the huge triangle consolidation develops. We will like to stress that (E)-waves can be sub-normal, but it should move closer to 127.50 before completing. The question only […]
Overview: The GBP/USD pair continues to move upwards from the zone of 1.3017. The first support level is currently seen at 1.3017, the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 1.3017, which coincides with the 61.8% Fibonacci retracement level. This […]
When the European market opens, some Economic Data will be released, such as Trade Balance and German WPI m/m. The US will release the Economic Data, too, such as Federal Budget Balance and Empire State Manufacturing Index, 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 Revised Industrial Production m/m data, and the US will release some Economic Data, such as Federal Budget Balance and Empire State Manufacturing Index. So, there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 112.60. Resistance. 2: 112.38. […]
The price has broken a strong resistance level which has led to a change in our momentum from bearish to bullish. We prepare to buy on dips above 87.93 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 88.82 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension). RSI (34) sees […]
The price dropped strongly from our selling area and has reached our profit target. We prepare to buy above major support at 131.90 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a bounce up to at least 133.42 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance). Stochastic (34,3,1) is seeing major support at 3.7% and […]
Friday brought a few positive news to the dollar at once. Retail sales in September rose by 1.6%. This growth was the highest since March 2015, which contributed to the elimination of the effects of hurricanes and the associated increased demand for cars and building materials. The rise in energy prices due to a decrease […]
Eurozone The growth of industrial production in the eurozone increased in August by 1.4% compared to July, an annual growth rate of 3.8%, and the highest level growth rate over the past nine years. Strong data has been expected by the market. Currently the focus is on the ECB meeting on October 26, which may […]
USDX continues to strengthen the bearish bias on a short-term basis, but still remains supported by the psychological level of 93.00. If that zone gives in to the bears’ force, the index could look to extend the downside towards the 91.67 level. However, if it manages to rebound, focus should be shifted to the resistance […]
GBP/USD has found a strong resistance in the 200 SMA vicinity and is looking forward to testing the October 6th lows in coming days. Following that pullback, the pair is forming a fractal around the 1.3150 level and possibly this is the move before resuming the bearish bias. To the upside, the moving average remains […]
GBP/JPY is expected to trade witha bullish outlook. The pair is rebounding from its support around 148.50 and is likely to challenge its key resistance at 149.50, representing an intraday horizontal level. The relative strength index is also turning up, and calls for further advance. In addition, the 20-period moving average has crossed above the […]
Overview: The NZD/USD pair continues to rise from the level of 0.7128 in the long term. It should be noted that the support is established at the level of 0.7128 which represents the 38.2% Fibonacci retracement level on the H1 chart. The price is likely to form a double bottom in the same time frame. […]
Overview: The USD/CHF pair is still set above the area of 0.9733. Besides, it should be noted that the pair broke resistance which turned to strong support at the level of 0.9708, which is expected to act as major support in coming two days. The RSI is considered overbought because it is above 30. The […]
Bitcoin has been impulsively bullish recently after breaking above the $5,000 price level with a daily close. After the Chinese ICO ban effect, the Cryptocurrency gained quite steadily earlier. After breaking the $5,000 level the market sentiment has driven the market impulsively leading to further gains on the upside with a target towards $6,000. The […]
AUD/JPY has been quite corrective in nature showing some bullish gains recently towards the 88.00 resistance level. AUD has been quite positive with the economic reports recently which helped the currency to gain some momentum against JPY in last few days. JPY has also been very positive with the economic reports making the gains of […]
EUR/AUD recently broke above the 1.5050-75 support area which is being retested currently. EUR has been quite strong in light of economic reports that has led to further gains of EUR against AUD. Recently, amid positive results of Australia’s economic reports some bearish impulsive pressure can be observed in the pair. Today, German Final CPI […]
Breaking forecast 10.13.2017 EURUSD under pressure. Turn on caution. On Friday morning, it was reported that the ECB decided to reduce the program of liquidity injections into the markets from January next year by two times: from 60 billion euros per month to 30 billion per month. This, on one hand, the tightening the monetary […]
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 […]
