Global macro overview for 11/05/2017: The Reserve Bank of New Zealand decided to hold the interest rate at the level of 1.75% as expected. In the statement, the RBNZ said, that “the growth outlook remains positive, supported by on-going accommodative monetary policy, strong population growth, and high levels of household spending and construction activity”. Nevertheless, […]

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Professional Forex news analysis on all major currencies: (EUR/USD) (USD/JPY) (GBP/USD) (USD/CHF), (USD/CAD), (AUD…

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Professional Forex news analysis on all major currencies: (EUR/USD) (USD/JPY) (GBP/USD) (USD/CHF), (USD/CAD), (AUD…

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Professional Forex news analysis on all major currencies: (EUR/USD) (USD/JPY) (GBP/USD) (USD/CHF), (USD/CAD), (AUD…

Trading plan for 11/05/2017: The main event of the Asian session was a sell-off in the New Zealand dollar after the Reserve Bank of New Zealand announced its interest rate decision. WTI Oil remains strong on the back of the US Department of Energy report. A barrel is priced at $47.50. EUR/USD is 20 pips […]

Today will see the release of a set of UK economic data at 09:30 BST, including manufacturing production, industrial production, and trade balance for March. This will be followed by the Bank of England’s (BoE) interest rate decision and monetary policy minutes at 12:00 BST and the NIESR GDP estimate (Feb to April) at 13:00 […]

The Dollar index is trading around the 38% Fibonacci retracement of the decline from 101.35. I expect the Dollar index to move lower from current levels. The recent lows are expected to be tested. In the short term, price remains above both the kijun- and the tenkan-sen. Support is at 99.54. If we see a […]

GOLD price is still trading above $1,200-$1,210. Judging by the divergence signs, we suppose a bounce to at least $1,260 is very close. Blue lines – bearish channel Red lines – bullish divergence Gold price remains in a bearish trend but is trying to break above the kijun-sen indicator on the 4-hour chart. Price remains […]

Good morning, the Dukascopy TV team is here with another Support and Resistance Level Report. Euro/Dollar has been trending lower and now has R1 of 1 09 and S1 of 1 0860. R1 is the most confirmed resistance line with 13 models. R2 is backed up by Price Channel Indicator Upper Line, a psychological level […]

Today’s focus turns to the Bank of England (BoE) meeting, which includes policy announcement, minutes, the Inflation Report and a press conference. Sterling is so far the second strongest major currency for the week, next to Dollar, having traded as high as 1.2987. Overnight, the dollar traded roughly flat against a basket of major currencies […]

Overview: The USD/CHF pair continues to move upwards from the level of 1.0033. Today, the first support level is currently seen at 1.0033, the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 1.0033, which coincides with the 61.8% Fibonacci retracement level. […]

Overview: The NZD/USD pair continues to move downwards from the level of 0.6935. Yesterday, the pair dropped from the level of 0.6935 (this level of 0.9965 coincides with the ratio of 50% Fibonacci retracement) to the bottom around 0.6817. Today, the first resistance level is seen at 0.6873 (the daily pivot point) followed by 0.6907, […]

USD/JPY is expected to trade in a higher range. The pair validated an intraday triangle pattern, and resumed its uptrend. A bullish cross has been identified between the 20-period and 50-period moving averages, which should confirm a positive outlook. Besides, the relative strength index is bullish above its neutrality area at 50. To conclude, as […]

Last month, U.K. Prime Minister Theresa May shocked the world by announcing a snap parliamentary election for June 8. The unnecessary appointment with voters was an attempt by the ruling Conservative majority to earn a stronger mandate to negotiate their exit from the European Union (EU). Although opinion polls give the Conservatives the edge,[1] May’s victory […]

Wave summary: We have seen the expected decline closer to 1.5645 (the low came in at 1.5588) before a strong recovery was seen. We will now be looking for a break above 1.6020 as confirmation that the next impulsive rally higher towards 1.6655 is developing. Short-term, we should see support in the 1.5726 – 1.5764 […]

Wave summary: We continue to look for a deeper correction in wave B and continue to expect a decline closer to 122.94 and ideally closer to 122.33 before we will start to look for renewed upside pressure. Short term, a break below minor support seen at 124.06 will indicate more downside to 123.45 and 122.94 […]

GBP/JPY is expected to continue its upside movement. The pair remains above the 20-period moving average which stays above the 50-period moving average. Besides, the relative strength index is still above its neutrality area at 50, and is positively oriented. As long as 147.15 is not broken down, further advance is preferred with 148.20 and […]

The greenback continued to move with the bullish bias on Wednesday, approaching the 100.00 handle which is a key zone across the board. However, USDX may start to show some pullbacks in order to correct last session’s rally. If the index manages to break above 99.63, then the next target should be placed at 100.00. […]

GBP/USD is awaiting the BOE interest rate decision. In a technical view, the pair remains capped by a strong resistance placed around 1.2957, formed by a congestion zone which has been holding since April 28th. If the cable manages to break it, then we can expect a bullish acceleration towards the 1.3030 hurdle. H1 chart’s […]

Here’s a look at the FX movers and shakers for Wednesday, 10th of May. New Zealand Dollar has been on a steady rise against the Japanese Yen and the pair has gained more than 1% to post the day’s top move. US stocks indexes have opened in the negative territory, but commodity currency trio leads […]

We take a nice detailed look at NZD/USD 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 […]

NZD/USD has dropped and reached our profit target. We are looking for buying opportunities above 0.6833 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to 0.6940 resistance (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance). Stochastic (21,5,3) is seeing strong support above 9.2% from where we expect a bounce. Correlation analysis: […]

AUD/USD is now testing the major support at 0.7332 (Fibonacci extension, Elliott wave theory) and we expect a bounce above this level to at least 0.7426 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (55,5,3) is seeing major support above the 4% level from which we expect a bounce. Correlation analysis: AUD/USD has a strong […]

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Overview GOLD price has been fluctuating within a tight range since morning, keeping below 1,229.32. Please note that stochastic is losing its positive momentum gradually to reach the borders of the overbought areas. This supports the chances of a bearish reversal to resume the bearish trend. To keep the decline expected for the near sessions, […]