By the end of June, the buyers struggled to break above 1.0930, which was a crucial hurdle, and only managed to reach 1.1200 briefly before the bears took over. Shortly after, the EUR/USD pair has been trading in a narrow range between 1.0600 and 1.1000, waiting for a clear direction from the market sentiment and […]
Overview : On the one-hour chart, the EUR/USD pair continues moving in a bearish trend from the resistance level of 1.0612. Currently, the price is in a bearish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. Equally important, the RSI is still calling for a […]
The EURUSD bulls controlled the price action around the key level of 1.0550-1.0600, leading to more bullish continuation towards 1.1000 and 1.1200. The recent bullish movement pursued towards the resistance zone around 1.1200 where lack of bullish momentum seemed to exist. On the other hand, the recent bearish pullback was facing a temporary support around […]
The GBP/USD pair has shown signs of bearish rejection just below 1.3200, initiating the recent bearish movement. After bearish closure below the price level of 1.2800 on a H4 candlestick, it continued to fall toward 1.2500 where the depicted uptrend line comes to meet a significant Fibonacci Level. This should be considered for Intraday traders […]
Bitcoin Cash ended its sell-off and now it has turned to the upside again. It’s located at 214.05 at the time of writing and it seems poised to come back higher. The altcoin increased, even though BTC/USD dropped. The altcoin increased by 6.79% from yesterday’s low of 201.94 to 215.65 today’s high. BCH/USD is up […]
NZD/USD Under Selling Pressure! The NZD/USD pair is moving sideways in the short term. It’s located at 0.5948 at the time of writing and it seems very heavy. The rate failed to jump above the former high of 0.5984 and now it has dropped below the uptrend line signaling exhausted buyers. The 0.5944 former low […]
The EUR/USD pair crashed in the last hours and now is trading at 1.0580. The Dollar Index’s rally forced the greenback to take the lead again versus its rivals. The price is bearish despite temporary rebounds, so more declines are still in the cards. Surprisingly or not, the USD rallied even if the US CB […]
Regarding the pound/dollar pair, the wave labeling remains quite simple and clear. The construction of the ascending wave 3 or c has been completed, and the construction of a new descending segment of the trend has begun. In my opinion, there are no grounds for the British pound to resume its rise, so I simply […]
The wave analysis of the 4-hour chart for the euro/dollar pair remains quite clear. Over the past year, we have seen only three-wave structures that constantly alternate with each other. For the past few months, I have been consistently saying that I expect the pair to be around the 1.5 figure, where the construction of […]
Early in the American session, Gold (XAU/USD) is trading around 1,908.52 with a bearish trend after reaching a high of 1,947.39. On the 4-hour chart, we can see that gold reached the bottom of the downtrend channel around 1,904.58. A technical rebound is unfolding shortly after. In the next few hours, data from the United […]
It wouldn’t be worse. Launching an investigation into whether Beijing subsidized electric vehicle deliveries to Europe, the European Union has heightened concerns about the worsening situation in the currency bloc’s economy. China, which has substantial experience in trade wars with the United States, could easily introduce retaliatory measures. This would be a real blow to […]
Red line- major resistance trend line Blue line- support trend line XRPUSD is trading around $0.50 having so far formed two higher lows at $0.42 and at $0.45. Price is mostly moving sideways over the last few weeks, still below the major red trend line resistance. As long as price is below this resistance, there […]
Blue lines- bearish RSI divergence USDJPY is trading at new highs around 148.90. Trend remains bullish as price continues making higher highs and higher lows. However the RSI has provided us with an important warning in the Daily chart. The RSI is forming lower highs providing us with a bearish divergence. This is not a […]
EURUSD is trading below 1.06. Trend remains clearly bearish in the Daily chart as price is well below the Kumo (cloud) and below both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Price continues making lower lows and lower highs. The Chikou span (black line indicator) remains below the candlestick pattern (bearish). […]
Gold price is trading around $1,904. Gold price is in a bearish trend according to the Ichimoku cloud indicator. We warned traders that price was challenging important resistance levels and that trend has not changed yet. On the contrary price yesterday got rejected at cloud resistance and closed below both the tenkan-sen (red line indicator) […]
The EUR/USD pair continued its decline on Monday towards the level of 1.0533 but stopped halfway and has since started to return to the corrective level of 100.0% (1.0637). A rebound from this level will favor the US currency and a resumption of the decline towards 1.0533. Closing above 1.0637 will allow for expectations of […]
On the hourly chart, the GBP/USD pair continued its decline on Monday and consolidated below 1.2201. Thus, the decline in quotes can now continue toward the next level at 1.2112. The descending trend corridor still characterizes traders’ sentiment as “bearish.” I don’t even see any potential “bullish” signals that could form soon. The “bearish” trend […]
USD/JPY continues to rise. If market participants previously considered the level of 145.00 as the “protective” level at which the Bank of Japan would conduct currency intervention, then at the moment, USD/JPY is trading near the 149.00 mark, managing to update a high at the beginning of the European trading session at 149.18, a level […]
The USD/CHF pair edged higher, reaching 0.9126 new high today. Now, it has turned to the downside as the Dollar Index retreated. Technically, the price action developed a bearish formation. Still, the pattern needs confirmation before taking action. Fundamentally, the US HPI and S&P/CS Composite-20 HPI came in better than expected earlier. Still, only the […]
The higher you climb, the harder you fall. Especially if the ascent is very rapid. When, at the end of the second decade of September, Brent quotes exceeded the $95 per barrel mark, there was no shortage of bullish forecasts. Goldman Sachs raised its estimates for the North Sea grade from $93 to $100, while […]
“Our main position is that we should patiently maintain the monetary policy easing,” said Bank of Japan Governor Katsuo Ueda last Monday, adding that “stable and sustainable achievement of 2% inflation is not yet visible.” Newly appointed Economy Minister Yoshitaka Shindo echoed this sentiment, stating that the weak yen has various effects on the economy, […]
In my morning forecast, I pointed out the level of 1.2168 and recommended making trading decisions based on it. Let’s look at the 5-minute chart and analyze what happened there. The decline and the formation of a false breakout around the support level of 1.2168 resulted in a buying signal, which led to a 25-point […]
In my morning forecast, I pointed out level 1.0579 and recommended making entry decisions based on it. Let’s look at the 5-minute chart and analyze what happened there. The decline and the formation of a false breakout, along with a MACD indicator divergence near 1.0579, led to an excellent entry point for buying the euro, […]
Review of macroeconomic reports: There will be virtually no macroeconomic events on Tuesday. Event calendars for the UK, the EU, and Germany are 100% empty. The only thing worth noting is the report on new home sales in the US, which has a very low chance of triggering a market reaction. Thus, today, we are […]
Negotiators from both Republican and Democratic parties in the U.S. Senate have agreed to temporarily extend government funding to avoid a shutdown after October 1st. This was reported today by Bloomberg, citing its sources in Congress. In theory, this news should have mitigated the rise in risk aversion observed on Monday; however, it did not. […]
The GBP/USD currency pair continued its downward movement calmly on Monday. While there were significant reasons for the euro to continue falling yesterday, the same cannot be said for the pound. The euro was influenced by two speeches from ECB representatives, which once again featured “dovish” rhetoric. In contrast, there were no events related to […]
GBP/USD Downtrend Intact! The GBP/USD pair extended its downwards movement and now is located at 1.2184 at the time of writing. As you can see, the rate dropped within a down channel pattern. As long as it stays below the downtrend line, the price could hit new lows. Technically, the downtrend line and the former […]
CHF/JPY Sellers In Charge! The CHF/JPY pair extended its sell-off after failing to stay above the 164.45 former low. Dropping below the uptrend line signaled exhausted buyers and that the pair could develop a new downside movement. Now, it stands right on the former low of 163.07. This represents a downside obstacle. Staying at this […]
The currency pair EUR/USD continued its downward movement easily and steadily throughout Monday. It often happens that volatility is minimal on Mondays. Trend movements are often absent on Mondays as well. Because volatility has been close to zero in recent weeks, the probability of a “boring Monday” was very high. However, we saw a decent […]
In yesterday’s interview, JPMorgan Chase & Co. CEO Jamie Dimon expressed pessimism. “The world may not be prepared for a worst-case scenario of Federal Reserve benchmark interest rates hitting 7% along with stagflation,” he stated. “If they are going to have lower volumes and higher rates, there will be stress in the system,” Dimon said. […]
