The index is off from February 28th highs and currently it’s trading below the 200 SMA, as the support zone of 89.36 could be challenged anytime soon. However, if USDX manages to break below that area, it’s expected to test the 87.88 level, which should strengthen the bearish bias for the short-term. MACD indicator remains […]

GBP/USD is looking for clues that help to push it lower across the board. The 200 SMA continues to provide the path in the short term and it seems the support zone of 1.3753 could be challenged in the near-term. If that level gives up to the bears’ price action, the pair could travel towards […]

Forex Market Reviews: http://thefxlounge.com/#Market-Review -The Euro takes politics in its stride, the Yen stays firm. -Italian election exit polls suggest a hung parliament. -China PMI data & the authorities indicate slower 2018 growth. -Angela Merkel to serve another term as German Chancellor. -US Oil production on a high as executives gather in Houston. The overnight […]

When the European market opens, some Economic Data will be released such as Retail Sales m/m, Sentix Investor Confidence, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, and Spanish Services PMI. The US will release the Economic Data too, such as ISM Non-Manufacturing PMI and Final Services PMI, so, […]

In Asia, Japan today will not release any Economic Data, but the US will release some Economic Data such as ISM Non-Manufacturing PMI and Final Services PMI. So, there is a probability the USD/JPY will move with a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 106.05. Resistance. 2: 105.85. Resistance. […]

The price is now testing major resistance at 1.2908 (Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push the price back down towards 1.2731 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension). Stochastic (34,5,3) is seeing major resistance at 97% where a corresponding reaction could occur. Sell […]

The price is testing major resistance at 1.2355 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push the price down to 1.2166 resistance (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance at 97% where a corresponding reaction could occur. Sell below 1.2355. […]

The previous week ended with another wave of selling in stock markets, and although the collapse has not yet taken the form of a panic flight, all the prerequisites for that ensures that the new week will open “on a black Monday” than on February 5. A month ago, the market showed a very nervous […]

Eurozone The unemployment rate in the eurozone fell to a minimum for more than 9 years, resulting to 8.6%. Meanwhile, the December result was reduced from 8.7% to 8.6%, which indicates a steady growth in the economy. At the same time, the overall level remains quite high due to the strong segregation by countries. In […]

Risk aversion returned to the FX market last week driving equities and currencies lower. At first it was Federal Reserve Chairman Jerome Powell’s hawkishness that sent stocks tumbling but the losses were exacerbated by President Trump’s steel and aluminum tariffs. In the past month, the U.S. dollar appreciated when stocks fell but this time, the […]

Risk aversion returned to the FX market last week driving equities and currencies lower. At first it was Federal Reserve Chairman Jerome Powell’s hawkishness that sent stocks tumbling but the losses were exacerbated by President Trump’s steel and aluminum tariffs. In the past month, the U.S. dollar appreciated when stocks fell but this time, the […]

Risk aversion returned to the FX market last week driving equities and currencies lower. At first it was Federal Reserve Chairman Jerome Powell’s hawkishness that sent stocks tumbling but the losses were exacerbated by President Trump’s steel and aluminum tariffs. In the past month, the U.S. dollar appreciated when stocks fell but this time, the […]

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The coming week looks set to be dominated by central banks as policymakers in Europe, Canada, Australia and Japan gather for their corresponding policy meetings. Economic data shouldn’t escape the headlines however as Australian GDP, Chinese trade figures and US and Canadian jobs reports will be eagerly awaited. However, early in the week, politics will […]

In February, AUDJPY recorded its worst monthly performance since April 2016, posting a loss of 5.8%. The negative sentiment remains strong in the first days of March, with prices hitting a 10-month low of 81.59 today but momentum indicators signal that the market could be overextended in the four-hour chart. The Relative Strength Indicator (RSI) […]

This is the Dukascopy Economic Calendar for this February Services PMI Monday. Chinese Services PMI opens this agenda at an early 1:45 in the morning. Italian figures will be published at 8:45, followed by finalized French numbers five minutes later, Final German stats at 8:55 and the final bloc’s figures at 9 o’clock. UK Services […]

On Thursday, President Trump said that the U.S will impose tariffs of 25% for steel and 10% for aluminium and that these tariffs will be implemented without targeting specific countries. The main trading partners of the U.S. have reacted by declaring they will take retaliatory steps. U.S. equity markets fell on worries that this action […]

GOLD PRICES whipped amid sharp currency swings on Friday as global stock markets fell hard after US President Donald Trump defended plans for stiff tariffs on imports of steel and aluminum into the world’s No.1 economy by declaring that “trade wars are good”. Proposing 25% tariffs on imports of steel and 10% on aluminum last […]

BITCOIN is currently fluctuating near $11,000. At the time of writing, the benchmark cryptocurrency pushes below $11,000, with the most popular altcoins following the same trend. For the past week, cryptocurrencies have traded sideways. The market was under pressure at the start of this week, following news that the Chinese government keeps trying to evict […]

Let’s find out how successful currency traders have been during the morning session on this week’s final trading day. Euro/Dollar rose by 72 pips after the daily low was hit and a gain of point 27% was posted by noon. Traders have used 40% more than typical funds trading this pair and neutral sentiment is […]

Let’s find out how successful currency traders have been during the morning session on this week’s final trading day. Euro/Dollar rose by 72 pips after the daily low was hit and a gain of point 27% was posted by noon. Traders have used 40% more than typical funds trading this pair and neutral sentiment is […]

Last year, amidst the global markets rally, market participants kept on throwing the caution of a trade war. As the year went on, the volatility went to the lowest level in decades. Traders expected Trump to change his mind about his protectionist policies to save the market rally he had praised since his election. These […]

Facebook stock price has been heading sharply lower over the last three days, hitting the 23.6% Fibonacci retracement level at 175.93 of the upleg with the low of 114.00 and the high of 195.10. The price extended its losses following the pullback on the 185.60 resistance level and the short-term momentum indicators are confirming the […]

Here are the latest developments in global markets: Forex: Dollar bears remained in charge during early European trading afternoon amid trade uncertainties spurred by the US President, Donald Trump, yesterday, who said that he would impose new hefty tariffs on steel (25%) and aluminum (10%) imports. Fears that these measures could trigger a trade war between the US […]