Trading plan for 02/06/2017: Strong data from ADP and ISM are supporting the US Dollar, but the market is in the waiting mode ahead of the key event of the week, Non-Farm Payrolls report. USD/JPY climbs above 111.50, followed by the Nikkei breaking 20,000 for the first time since December. GOLD weakens under strong Dollar […]

EUR/USD: The EUR/USD went upwards to test the resistance line at 1.1250 several times, but unable to break it to the upside. The bullish bias still holds for now; though there could be a major pullback in the market sometime this month. The resistance line would eventually be broken, as price targets another resistance line […]

Upcoming events will keep your summer trading exciting A good old Wall Street saying goes “Sell in May and walk away”.  Summer trading was measurably lower while people took their vacations and exchanged their desktops and platforms for a tan. But since the introduction of the first web-based trading platform by easyMarkets in 2001, things […]

Wave summary: We still need a break above minor resistance seen at 1.6002 to confirm that wave ii/ did complete with the test of 1.5660 and that wave iii/ higher towards 1.6655 is developing. Short-term, we expect minor support seen at 1.5815 max. 1.5785 will be able to protect the downside for the rally above […]

Wave summary: We are looking for more upside pressure towards at least 127.50 as wave C higher is unfolding. The ideal target for this rally in wave C is seen near 138.52. Short-term, we expect minor support seen at 124.58 will be able to protect the downside for a break above resistance at 125.81 that […]

When the European market opens, some Economic Data will be released, such as PPI m/m and Spanish Unemployment Change. The US will release the Economic Data, too, such as Trade Balance, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m, so, amid the reports, EUR/USD will move in a medium volatility during this day. […]

In Asia, Japan will release the Consumer Confidence and Monetary Base y/y data, and the US will release some Economic Data, such as Trade Balance, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So, there is a probability the USD/JPY will move with medium to high volatility during this day. TODAY’S TECHNICAL LEVEL: […]

Overview: The NZD/USD pair is in a bullish trend from the support levels of 0.7001 and 0.7053. As a consequence, the first and second support levels are seen at 0.7053 and 0.7001 respectively. Currently, the price is in a strong bullish channel. This is confirmed by the RSI indicator signaling that we are still in […]

Overview: The USD/CHF pair is still indicating a strong bearish market from the spot of 0.9739. The bias remains bearish in the nearest term testing 0.9691 or 0.9645. The first resistance level is seen at 0.9787 followed by 0.9739, while daily support 1 is seen at 0.9691. The USD/CHF pair broke support which turned into […]

USD/CHF has been recently in a corrective structure between 0.9700-0.9750 area. Recently CHF had negative economic reports like KOF Economic Barometer which was released with a worse figure at 101.6 which was expected to be at 106.2, GDP was released with a worse figure at 0.3% which was expected to rise to 0.5% from the […]

AUD/JPY bearish trend seems to be quite intact as the break above 83.00 is now considered as a false break. As of the mixed economic reports on the Australian economic reports recently AUD is currently quite weaker than JPY. Today JPY has Monetary Base report to be published which is expected to have a minor […]

USDX managed to hold its structure above the support level of 96.90, as the bulls gained momentum across the board, but the gains are still limited. The 200 SMA at the H1 chart is still offering dynamic resistance in the short-term. The index might plummet below 96.90 to reach the support level of 96.25. MACD […]

GBP/USD didn’t succeed in consolidating above the resistance level of 1.2911, as the sellers keep pressuring the pair to the downside. Also, the 200 SMA at the H1 chart is providing a nice barrier for the buyers that are looking for the next target to the upside around 1.2962. If the support level of 1.2845 […]

The price has been dropping perfectly towards our profit target. We prepare to buy above major support at 110.21 (Fibonacci extension, horizontal swing low support, bullish divergence) for a push up to the 111.43 resistance (Fibonacci retracement, horizontal overlap resistance). The RSI (34) is displaying bearish divergence, while the price signalling that a bounce is […]

The price is approaching 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 the 82.53 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing strong support above the 8% level and bullish divergence, while the price is signalling that […]

Can Labour pinch it, or will Theresa May secure the mandate she craves? Why trade with ETX Capital? – http://www.etxcapital.co.uk ETX Capital is one of the leading providers of spread betting, CFDs and Forex trading services for retail, HNW and institutional clients. Based in the City of London, ETX is a member of the London […]

Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1256. Anyway, I found a fake breakout of yesterday’s high and a strong divergent bar, which is a sign that buying look risky today. There is also a bearish divergence on the moving average oscillator, which is another sign of weakness. […]

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Recently, the GBP/USD pair has been trading upwards. As I expected, the price tested the level of 1.2921. Anyway, according to the 30M time frame, I found a fake breakout of Tuesday’s high and a strong divergent bar, which is a sign that buying look risky today. My advice is to watch for potential selling […]

In December 2016, a bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide sufficient bearish pressure on the pair. Bullish persistence above 0.7100 allowed a further advance towards 0.7250-0.7350 (sell zone) where the bearish price action was expected. Bearish persistence below 0.7250 […]

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 […]

Overview: The NZD/USD pair is in a bullish trend from the support levels of 0.7001 and 0.7053. Hence, the first and second support levels are seen at 0.7053 and 0.7001 respectively. Currently, the price is in a strong bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish […]

Overview: Pivot point : 0.9739. The USD/CHF pair is still indicating a strong bearish market from the area of 0.9787 and 0.9739. The bias remains bearish in the nearest term testing 0.9691 or 0.9645. The first resistance level is seen at 0.9787 followed by 0.9739, while daily support 1 is seen at 0.9691. The USD/CHF […]

EUR/USD: The EUR/USD pair went upwards to test the resistance line at 1.1250 several times, but unable to break it to the upside. The resistance line would eventually be broken, as price targets another resistance line at 1.1300. Some fundamental reports due later today and they will make an impact on the market. USD/CHF: The […]

Sterling found itself under renewed selling pressure on Thursday as fears heightened over Theresa May losing control of parliaments in Britain’s June 8 election. Stock markets were mostly mixed amid the uncertainty and political risk across the globe. The Dollar struggled to maintain gains after the mixed bag of economic data from the US weighed […]