EUR/USD: Since it tested the resistance line at 1.1250, the EUR/USD pair has gone downwards by 100 pips. The downwards movement is slow and gradual, but its continuation could threaten the ongoing bullish bias on the market. Although the outlook on EUR/USD is bearish for June 2017, a transitory rally’s attempt is likely to be […]

The Dollar index is showing reversal signs. This is not the time to be bearish on the Dollar. I expect a strong bounce higher in the Dollar index where we will get a better opportunity to sell the Dollar. Blue lines – trading range The Dollar index has broken the trading range upwards. Price is […]

GOLD price continues to make higher highs. The trend remains bullish but we have several bearish divergence signals. Gold is likely to make a pullback towards $1,200 before the up trend resumes towards $1,400. I do not expect gold to make any major breakout now. Red lines – bullish short-term channel Gold is trading above […]

Good morning traders, you’re watching the Dukascopy Support and Resistance Level Report. Euro/Dollar has been trending South, and it currently has R1 of 1 1160 and S1 of 1 1110. The lowest resistance line has found 7 matches. R3 is backed up by Bollinger Upper Band, a 6 month high and 2 other models while […]

Wave summary: We continue to look for a spike lower to 1.1.5537 to complete the expanded flat correction in wave ii/ and turning prices higher in wave iii/ to above 1.6237 for a continuation higher to 1.6655. Only a direct break above minor resistance, seen at 1.6006, will indicate that a running flat has been […]

Wave summary: The decline from 125.81 has extended and a low does not yet seem to be in place, this calls for a little more downside to 123.02 and maybe even slightly closer to the invalidation point seen at 122.53. Should this support be broken, that would indicate that a more complex wave B correction […]

When the European market opens, some Economic Data will be released, such as Italian 10-y Bond Auction, Spanish Flash CPI y/y, French Prelim GDP q/q, French Consumer Spending m/m, German Prelim CPI m/m, and German Import Prices m/m. The US will release the Economic Data, too, such as CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, […]

In Asia, Japan will release the BOJ Core CPI y/y, Retail Sales y/y, Unemployment Rate, and Household Spending y/y data, and the US will release some Economic Data, such as CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So, there is a probability the […]

Overview: The NZD/USD pair indicated for a bullish trend from the support level of 0.6985 since last week. The price is still in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. As the price is still above the moving average (100) and (50), […]

Overview: The GBP/USD pair traded around the strong resistance at the spot of 1.2973 because the double top is set around the spot of 1.3047. Consequently, the strong resistance has already been formed at the level of 1.2973 and the pair is likely to trade around the spot of 1.2973 and 1.2744. However, if the […]

The index remained in sideways during the Memorial Day in the United States, capped by the 200 SMA at H1 chart. The bears are still strong across the greenback and we can expect some declines towards 96.90. However, if USDX manages to break above the 200 SMA, it’s expected to see a rally that tests […]

The pair had a limited trading range during Monday, as we had holidays in the United States. The resistance zone of 1.2845 acted as intraday resistance in the Cable and we can expect a lower consolidation below that scenario in order to reach the support zone of 1.2791. If GBP/USD plunges below that area, then […]

GBP/USD has once again bounced off the support of 1.2750-1.2800 area. Currently, the pair is showing some evidence of bullish bias in the market as the price could not break below the support area after an impulsive bearish pressure on Friday. Today on the USD side, we have CB Consumer Confidence report which is expected […]

USD/JPY is currently residing inside a corrective structure after breaking below the important level of 111.60. Today we have JPY Household Spending Report which is expected to show a positive result at -0.7% which previously was at -1.3%, Unemployment Rate is expected to be unchanged at 2.8% and Retail Sales is expected to have a […]

It’s 3 PM GMT, so let’s look back at what’s been moving and shaking in the currency markets. It has been a slow day in the markets, and the biggest move was a gain of point 54%. It was posted by New Zealand/Swissie, which saw several rises during the day. Commodity currencies are among the […]

Overview The EUR/JPY pair was forced to start correctional bearish trading by fluctuating below the initial support at 124.75 today. Meanwhile, we expect moving towards the 55-moving average around 123.80. Breaking this barrier will extend the correctional bearish trading to reach another negative level that starts at 123.15 and extend to 121.90. Stochastic attempt to […]

Overview The GBP/JPY pair revealed the stable bearish trend in the recent trading. We can notice that the sideways range support line around 143.45 is broken. This forms the double top pattern that reinforces the bears’ domination for the near term and medium term. We will depend on the stability of the broken support as […]

Overview Silver price continues its gradual rise to reach the thresholds of the first expected target at 17.43. The positive effect of the double bottom pattern keeps pushing the price to the upside, waiting until the mentioned level is breached to confirm the extension of the bullish wave to 18.30. Therefore, we believe that the […]

Overview GOLD price has settled above the main bullish channel’s support that is displayed on the above chart. This keeps the bullish scenario valid on the intraday and short-term basis, supported by the completion of the bullish pennant that indicates a bulish bias. We expect it to push the price up to our expected main […]

Price has dropped perfectly from our selling area and has reached our profit target. We prepare to buy above 124.12 major support (Fibonacci retracement, horizontal overlap support) for a bounce up to at least 125.70 resistance (Fibonacci extension, horizontal resitance). Stochastic (34,5,3) is seeing major support above 3.2% where we expect a bounce from. Correlation […]

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Technical outlook: The EUR/USD pair seems to be stalling just below 1.1200 levels for now, having produced a tight consolidation range. Looking into the wave structure, the pair might be wanting to hit 1.1300 resistance before pulling back in a meaningful manner. At the same time, the overall bearish trend (bigger picture) still remains intact […]

There has been little activity in the markets on this Bank Holiday, but let’s take a quick look nevertheless. Euro/Dollar has inched slightly higher, as it stood point 1% in the green at midday. This pair sees less than half the usual funding, and the neutral traders’ sentiment stands at 6% short. It’s likely that […]

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 […]

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 […]