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 […]
Overview: The USD/CHF pair broke resistance which turned to strong support at the level of 0.9708. The level of 0.9708 coincides with the ratio of 23.6% of Fibonacci, which is expected to act as major support today. The Relative Strength Index (RSI) is considered overbought because it is above 30. The RSI is still signaling […]
Quotations of futures for the North Sea variety managed to push off from the three-week lows thanks to Saudi Arabia’s announcement of an unprecedented decline in exports. Riyadh is ready to reduce the supply of black gold in November to 7.2 million bpd, which is significantly lower than the demand for it which is at […]
The Bitcoin (BTC) has been trading upwards. The price tested the level of $4.855. The news around the world are positive for Bitcoin. The South Pacific island nation of Vanuatu has become host to the world’s first government to accept bitcoin in exchange for citizenship. Vanuatu’s citizenship program costs $200,000 USD, meaning that at current […]
Recently, the Gold has been trading upwards. The price tested the level of $1.292.90. According to the 15M time – frame, I found a rising wedge in creation, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities if the price breaks the support of the pattern ($1,290.00). […]
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. […]
Overview The USD/JPY pair fluctuates around the EMA50 since yesterday, noticing that stochastic lost its positive momentum now, which might force the price to show more sideways trading until managing to get enough positive momentum to push the price to continue rising on the short-term basis. In general, we will continue to suggest the bullish […]
Overview The Gold price kept its stability above 1281.17 level, to start today with bullish bias on its way to head towards our first target at 1299.20, as the price gets positive support by the EMA50, to keep the bullish trend suggested in the upcoming sessions. Note that breaching the targeted level will push the […]
Overview Silver price continues to rise to begin testing the resistance line that appears on the chart, and the price needs to surpass the EMA50 that forms negative pressure against the intraday trading to confirm the continuation of the bullish bias in the upcoming sessions. In general, we will continue to suggest the bullish trend […]
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3203. According to the 30M time – frame. I found a fake breakout of yesterday’s high at the price of 1.3185, which is sign that buying looks risky. I also found a hidden bearish divergence on the RSI (21), which is […]
Technical outlook: The EUR/USD pair has continued to rise since discussed yesterday and has now taken out trend line resistance and also price resistance at 1.1788 levels as depicted here on short-term view. Still probable likelihood for a trade setup immediately is to drop lower around the fibonacci 0.50% support seen at 1.1740/50 levels and […]
Global macro overview for 10/10/2017: The British Prime Minister Theresa May has outlined the contingency plans for leaving the EU without a deal. This scenario is known in financial media as “hard-Brexit”, but this is the first time UK PM delivered a clear scenario regarding this situation. May said in the speech in British Parliment […]
