Global macro overview for 06/06/2017: The Reserve Bank of Australia has left the interest rate unchanged at the level of 1.5%. In the statement released after the decision, the RBA delivered a very neutral message. The key quotes from the statement were: “economic growth is still expected to increase gradually over the next couple of […]

Trading plan for 06/06/2017: The rate of AUD/USD increased slightly overnight after the Reserve Bank of Australia announced a positive interest rate decision and statement. The USD/JPY pair fell below 110.00 amid the mixed mood on Asian Stock Exchanges. Crude Oil is trading 0.5% down and its price again has to struggle from falling under […]

Remaining in a bearish trend and providing lower lows and lower highs, I continue to feel that the risk reward favors bulls rather than bears. As said in my previous posts, I prefer to be at least neutral if not bullish around 96-97 area. Blue line – resistance The Dollar index broke out and below […]

GOLD price is reaching our targets we mentioned since early May. There are several indicators showing that this rally will be short-lived and bulls need to raise their stops and protect their positions. A pullback at least towards $1,250 is expected. Gold price remains in a bullish trend as price continues to trade above both […]

Good morning traders, you’re watching the Dukascopy Support and Resistance Level Report for Tuesday. Euro/Dollar has seen both ups and downs, but it currently stands below R1 of 1 1290 and above S1 of 1 1260. Price Channel Indicator Upper Line is among the 6 models for R1, while R2 counts Bollinger Upper Band among […]

Wave summary: We continue to expect support at 1.5660 will be able to protect the downside for a break above minor resistance at 1.5837 and more importantly a break above resistance at 1.6006 for a rally towards 1.6655. If, however, support at 1.5660 gives away the will extend wave ii lower to 1.5485 in an […]

Wave summary: The failure to rally has shifted the short-term count in favor of a triangle consolidation unfolding for wave B. If this is the case, then support seen at 123.11 should be able to protect the downside for a rally above resistance seen at 123.31 that confirms wave C is developing for a rally […]

When the European market opens, some Economic Data will be released, such as Spanish 10-y Bond Auction, Retail Sales m/m, Sentix Investor Confidence, and Retail PMI. The US will release the Economic Data, too, such as IBD/TIPP Economic Optimism and JOLTS Job Openings, so, amid the reports, EUR/USD will move in a low to medium […]

In Asia, Japan will release the 30-y Bond Auction, Average Cash Earnings y/y data, and the US will release some Economic Data, such as IBD/TIPP Economic Optimism and JOLTS Job Openings. So, there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 110.58. Resistance. […]

Since April 2016, the USD/CAD pair has been trending upward within the depicted ascending channel. In December 2016, a bullish breakout above 1.3300 (50% Fibonacci level) was expected to allow a further advance toward 1.3700-1.3750 (the upper limit of the depicted channel). However, a significant bearish rejection was expressed around 1.3580 (recently established top). During […]

Monthly Outlook In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 (Multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target is 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. […]

Daily Outlook The NZD/USD pair has been trending up within the depicted bullish channel since January 2016. In November 2016, early signs of bullish weakness were expressed on the chart when the pair market failed to record a new high above 0.7400. Bearish breakdown of the lower limit of the channel took place in December […]

EUR/USD: The EUR/USD simply consolidated on June 5. There would soon be a rise in volatility, and the resistance line at 1.1300 may be breached to the upside as price goes further upwards. However, there is bound to be a bearish reversal this week or next, owing to the bearish outlook on EUR pairs, which […]

The U.S. housing market has staged a significant rebound since prices bottomed in February 2012. Now, at least one measure ofoptimism has returned to the height of the bubble days. Some say not to worry because “the economy is in far better shape than a decade ago.” Is today really different? Learn How the Wave […]

USDX remained supported on Monday, as the momentum wasn’t enough to allow a breakout below the 96.73 level. That zone is the last hurdle before the 96.25 demand zone, while a rebound should produce another test of the 200 SMA at H1 chart. However, our immediate resistance is projected around 97.41. MACD indicator is turning […]

GBP/USD got fresh momentum during Monday’s session, as the liquidity favored to the Sterling across the markets. Currently, the pair is consolidating its gains above the 200 SMA at H1 chart and it looks like the nearest target is placed around 1.2962. To the downside, we expect supports at the 1.2845 and 1.2791 levels. H1 […]

We take a nice detailed look at EUR/JPY and see if there are any trading opportunities for us to make some juicy pips! We combine the art of Fibonacci retracements, Fibonacci extensions, Support & Resistance along with Stochastic and RSI to determine the best entry, stop loss and profit targets. Subscribe to me for more […]

Let’s find out what’s moving and shaking on the FX Markets at 3 PM GMT on this Services PMI Monday. Euro/Australia has been on a steady slide and it has resulted in a loss of close to 1%, which is the day’s top move. US stocks have recovered after the initial decline and Australian Dollar […]

Price has once again dropped to our support level. We remain bullish above major support at 81.90 (Fibonacci extension, horizontal swing low support, bullish divergence) and we expect a strong bounce above this level to at least 82.90 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3) is seeing strong support above the 8% level […]

USD/CHF is under pressure. The pair broke below its 50-period moving average and consolidated on the downside, while the 50-period moving average is declining and is playing a resistance role. The relative strength index is below its neutrality level at 50 and lacks upward momentum. The U.S. Labor Department reported that the number of nonfarm […]

NZD/USD is expected to trade in a higher range. The pair has recorded a succession of higher tops and higher bottoms since June 1 and is holding on the upside. The rising 50-period moving average is playing a support role and maintains the upside bias. The relative strength index is above its neutrality level at […]

Technical outlook: The EUR/USD pair continues to print fresh highs as once again Friday NFP helped the price hit 1.1285 levels before pulling back. The pair is likely on a high note after breaking above a trend line resistance on the daily chart last month (not shown here). At the same time, please note that […]

GBP/JPY is under pressure. The pair retreated from 143.95 and broke below the 20-period and 50-period moving averages. The relative strength index is mixed to bearish. In addition, the key resistance at 143.05 should limit the upside potential. Hence, as long as this key level is not surpassed, look for another decline to 141.95 and […]

Daily Outlook The NZD/USD pair has been trending-up within the depicted bullish channel since January 2016. In November 2016, early signs of bullish weakness were expressed on the chart when the pair market failed to record a new high above 0.7400. Bearish breakdown of the lower limit of the channel took place in December 2016. […]

Morning session is over on this Monday so let’s see how it has been shaping up for the currency traders. Euro/Dollar declined after 7 o’clock and the pair was point 27% in the red at noon. Traded volume is extremely low and neutral sentiment of the traders is 3% long. Late decline makes profits more […]