From the point of view of complex analysis, we see another rebound from the range level of 1.1180, where there was a local surge in long positions. Now, let’s talk about the details. The past trading day confirmed the support point in the form of a range level of 1.1180 [1.1165 // 1.1180 // 1.1190] […]

Difficult times are coming for the traders of the EUR/USD pair: the pair will follow not only the US currency in the near future, but also respond to European events, in anticipation of the July summit of the EU countries. In June, the euro was a “driven” currency – the tone of trading was set […]

On Monday, Prince Mohammed bin Salman of Saudi Arabia and Nigerian President Muhammadu Buhari discussed “ways to work together to improve stability” in the market. Such actions were very surprising since it is unusual for the prince to call on other leaders to discuss OPEC issues. Recently, OPEC and its partners pledged to reduce oil […]

Overview: Pivot: 1.2396. The GBP/USD pair didn’t make any significant movements last two days. There are no changes in our technical outlook. The GBP/USD pair was trading around the area of 1.2345 – 1.2396. Today, the level of 1.2396 represents a weekly pivot point in the H1 time frame. The pair has already formed minor […]

The US dollar index rebounded on the three-month trough of 95.60, finding resistance at the 23.6% Fibonacci retracement level of the down leg from 103.80 to 95.60 at 97.52. The technical indicators seem to be contradicting each other as the MACD holds above the trigger line and is looking bullish, however, the stochastic oscillator is turning lower, suggesting […]

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EURAUD recently recorded a so-called death cross, meaning that the 50-day simple moving average (SMA) crossed below the 200-day one, which is a negative trend signal. That being said, the pair continues to trade very quietly between 1.6530 and 1.6020 since early June, suggesting that the very short-term outlook looks neutral, even if the broader […]

Gold extends bull run amid growing virus fears and US-China tensions; softer dollar helps too Stocks mostly positive as global recovery appears on track, but rally showing some signs of fatigue Markets await US ISM manufacturing and jobs data for direction Gold sets sights on $1800/oz as pandemic here to stay The safe-haven gold was […]

Today we take a look at GBPJPY and see how we are going to play the bounce! We use Fibonacci retracements, extensions, support/resistance, momentum and trend lines to identify trading opportunities in this exciting pair today The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Daily Market Comment – Gold soars on virus […]

Gold’s brake pads seem to have no effect on the triumphing bullish structure, which has hiked to an almost 8 year high of 1,788. The commodity’s overwhelming climb is tackling the 1,788 mark, that being the 123.6% Fibonacci extension of the down leg from 1,765 to 1,670. The pickup in positive momentum is also reflected […]

Good day, dear traders! Yesterday, the final GDP data for the first quarter came from the UK, which was weaker than expected and disappointed market participants. Let me remind you that the British GDP fell by 2.2%, although forecasts suggested a fall of only 2%. But the promises of the British Prime Minister Boris Johnson […]

Technical analysis recommendations for EUR/USD and GBP/USD on July 1 EUR / USD The maximum optimism for the players to decline at the close of June was not reached. And although the rebound from the medium-term trend tested last month (1.1360) retained its initial potential, since the upper shadow of the monthly candle is quite […]

USDCHF has been consolidating in recent weeks, staying confined within a narrow sideways range between 0.9550 and 0.9420 since mid-June. Nonetheless, the broader price structure still consists of lower peaks and lower troughs, with the pair also trading below a downtrend line drawn from the peaks of March. Short term momentum oscillators are near their […]

NZDUSD is capped by the 20-day simple moving average (SMA) and the red Tenkan-sen line in the short-term and has been moving sideways over the past three weeks. The momentum indicators are facing contradicting signals as the RSI is pointing marginally up in the positive region, while the MACD oscillator is standing beneath its trigger […]

USDJPY bulls entered the 108.00 area on Wednesday after striking their fifth consecutive daily gain on Tuesday despite Fauci’s virus warnings and the Fed’s cautious tone. Previously, the pair bottomed twice around 105.97, and a rally above the 109.60 resistance is now required to switch the neutral status in the three-month picture to a positive […]

Hello, dear colleagues! So, yesterday the market closed the first summer month, however, before we go to the analysis of price charts, let’s briefly talk about the fundamental background. Preliminary data on the consumer price index in the Eurozone exceeded economists’ forecasts of 0.1% and came out at 0.3%. At the same time, the base […]

Crypto Industry News: The British Financial Supervision Authority (FCA) estimates that around 2.6 million British consumers “bought cryptocurrencies” at some point. FCA has published the results of its latest research on consumer interaction with cryptocurrency markets in the UK. 1.9 million people – 3.86% of the general adult population – were found to currently have […]

A medium-term accumulation zone was formed in the trading chart this June, so traders can use the weekly and monthly highs to search for good entry and consolidation points in the market. The upward movement that occurred yesterday pushed the quote near the defining resistance area of the WCZ 1/2 0.6933-0.6924, a test of which […]

Crypto Industry News: Anxiety in the cryptocurrency community is growing every day. No change in Bitcoin prices, trade between $ 9,000 to $ 9,500, for almost two months is currently not perceived as a feature of the strongest cryptocurrency in the world, but rather its relationship with larger financial markets. Bitcoin, for most of this […]

Technical Market Outlook: The EUR/USD pair has made a local high at the level of 1.1287 before the Bearish Engulfing pattern had been made. For now, the market is consolidating in a narrow range between the levels of 1.1215 – 1.1251, but the bearish pressure is still present on chart, so if bulls will not […]

Technical Market Outlook: After the GBP/USD pair has made a local low at the level of 1.2251 after all the bounces were too shallow to trigger a strong rally. Nevertheless, the price has temporary broken out the descending channel and tested the technical resistance seen at the level of 1.2362. Despite the bounce from the […]

An absorption pattern formed at the daily level yesterday. This can be a springboard for further growth in the second half of the week. Favorable prices for purchasing can be found at the level where European trading closed at yesterday. The growth target is WCZ 1/2 1.2488-1.2467, the test of which will determine the further […]

Trading Recommendation Entry: 1.35809 Reason for Entry: Moving average resistance, Ascending trendline resistance. Take Profit: 1.34968 Reason for Take Profit:161.8% Fibonacci extension Stop Loss: 1.36153 Reason for Stop Loss: 38.2% Fibonacci retracement The material has been provided by InstaForex Company – www.instaforex.com Related Posts:GBP/USD facing bearish pressure from descending trend line July 1, 2020 Trading […]

Trading Recommendation Entry: 1.24425 Reason for Entry: Horizontal overlap resistance, 78.6% fibonacci extension and 61.8% fibonacci retracement Take Profit: 1.22637 Reason for Take Profit: Horizontal overlap support, 76.4% fibonacci retracement, 61.8% fibonacci extension Stop Loss: 1.25461 Reason for Take Profit: Horizontal swing high resistance, 50% fibonacci retracement The material has been provided by InstaForex Company […]

Trading Recommendation Entry: 1.24425 Reason for Entry: Horizontal overlap resistance, 78.6% fibonacci extension and 61.8% fibonacci retracement Take Profit: 1.22637 Reason for Take Profit: Horizontal overlap support, 76.4% fibonacci retracement, 61.8% fibonacci extension Stop Loss: 1.25461 Reason for Take Profit: Horizontal swing high resistance, 50% fibonacci retracement The material has been provided by InstaForex Company […]