USDCAD has advanced considerably to a more than a 2-month high of 1.2895 during Thursday’s session, however, it ended the day slightly above its opening level. The price posted the fourth straight bullish day and the aggressive positive rollercoaster started after the rebound on 1.2460 support level. The short-term momentum indicators seem to be in agreement […]

USD/CHF has been quite impulsive with the bearish moves after bullish rejection off the 0.9450 price area recently. Despite mixed economic reports, CHF gained momentum over USD ahead of the anticipating rate hike this month. Recently, Fed Chairman Powell made a testimony and presented his outlook on the current economic conditions and monetary policy. His […]

Morning Report: 07.00 London This morning, the US dollar is reversing lower following a negative reaction to Trump’s plan to impose a 25% tariff on steel imports. The dollar pairs are generally positive, but there are some exceptions as the EUR/USD trades lower and AUD/USD remains. The GBP/USD is on the rise after selling yesterday […]

Yesterday, the US announced Tariffs on Steel and Aluminium, which prompted an outcry from various global leaders and an acceleration in the risk-off bias affecting markets this week. The White House signalled a 25% tariff on Steel and a 10% tariff on Aluminium, starting next week. EU’s Junker said that he strongly regrets US restrictions […]

Forex Market Reviews: http://thefxlounge.com/#Market-Review -Donald Trumps gets tough on Steel imports. -US &Asian equities sell-off on trade war fears. -Politics is back in a big way in Europe this weekend. -Japans unemployment at multi-decade lows. -How can we determine the mood of the market? The overnight changes and price moves to be aware of by […]

Wave summary: There is not really anything new to say here. We continue to look for a continuation higher through the resistance at 1.6960 and 1.6999 for a continuation towards 1.7094 and 1.7470 as the next upside targets. Short-term support is seen at 1.6867 and again at 1.6809. R3: 1.7094 R2: 1.6999 R1: 1.6960 Pivot: […]

Wave summary: Today, we would like to present an alternative count that is moving up to be the preferred count. If this count is correct, then the wave A should be close to completion and the wave B should be ready to take over for a rally towards at least 132.90. Under this count, we […]

Price has dropped strongly from our selling area and reached our profit target perfectly. We are now seeing major support at 0.9408 (Fibonacci retracement, horizontal overlap support, ascending support) and a strong bounce could occur at this level to push the price up to the 0.9486 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) […]

Price has made a pullback to our major resistance area at 0.7277 (Multiple Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction from this level to push the price down to the 0.7187 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 95% where a corresponding reaction could […]

When the European market opens, some Economic Data will be released such as PPI m/m, Spanish Unemployment Change, German Import Prices m/m, and German Retail Sales m/m. The US will also release the Economic Data such as Revised UoM Inflation Expectations and Revised UoM Consumer Sentiment, so amid the reports, EUR/USD will move in a […]

In Asia, Japan will release the Monetary Base y/y, Unemployment Rate, Tokyo Core CPI y/y, Household Spending y/y and the US will release some Economic Data such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment . So there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S […]

USDX is sligthly bullish above the 200 SMA at H1 chart and the price action is favoring to the upside, as the index didn’t break below the February 28th lows. However, the psychological level of 91.00 has been proven to be a strong resistance which could help to cap further gains in the greenback. That’s […]

USDX is sligthly bullish above the 200 SMA at H1 chart and the price action is favoring to the upside, as the index didn’t break below the February 28th lows. However, the psychological level of 91.00 has been proven to be a strong resistance which could help to cap further gains in the greenback. That’s […]

The pair is extending losses across the board and the price action is moving below the 200 SMA at H1 chart. Currently, GBP/USD is forming a lower low pattern that could allow another leg lower towards the support zone of 1.3608, once the 1.3753 level gives up to the bearish force. MACD indicator stays in […]

BITCOIN has been quite bullish today above the $10,000 price area after a lot of correction along the way. The price is expected to push higher towards $12,000 in the coming days if the price manages to hold above $10,000 in the coming days. The price has been quite corrective between the price areas of […]

USD/CAD has been impulsive and non-volatile with the bullish gains after breaking and retesting off the 1.2620 price area. Ahead of the possible US rate hike this month, the gains of USD has been quite impulsive which may lead to further bullish pressure in the pair. Today USD ISM Manufacturing PMI report was published with […]

AUD/USD has been quite impulsive with bearish gains that has lead the price to breach 0.7750. below USD has been the dominant currency in the pair whereas AUD has been struggling. AUD lost good amount of grounds today having weak economic reports. Today AUD Private Capital Expenditure report was published with the 0.2% decrease from […]

Italian elections and an important European Central Bank could create volatility for the Euro, while Brexit talks are sure to impact sterling. 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 […]

GER30, the blue-chip German index, touched a one-year low of 11691.60 on February 6 and since then has been forming a floor around the 12000 key area. The market has fiercely broken below its lower and higher-timeframe moving average lines and the Ichimoku cloud, signaling that a downtrend is underway. In the short-term, negative momentum could […]

More than one-and-a-half-years have passed since Britain voted in favor of leaving the European Union and the situation is still unclear as regards the UK’s future relationship with the remainder of the EU bloc of nations. UK PM Theresa May will be delivering a speech on Friday that aims to clarify her government’s position on […]

The latest data from the U.S. regarding jobs and income exceeded expectations, boosting the markets after a weak start this week. Following the release, the S&P500 index went up, while the USD reversed downwards. Weekly Initial Unemployment Claims in the U.S. fell to 210K, renewing 40+ year lows once more. Continued Claims is also at […]

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 Stock Exchange and regulated by the Financial Conduct Authority.* Find out more about […]

Sterling stumbled into March on a shaky footing thanks to renewed Brexit jitters. The Dollar extended gains against a basket of currencies amid heightened US rate hike expectations. In the Commodities arena, GOLD depreciated while Oil slipped lower. With Dollar bulls back in town, the #EURUSD, #GBPUSD and #Gold could be exposed to further losses […]

Global stock Indices ended February lower, as concerns regarding rising inflation and interest rates took a hold of markets, helping to bring “overvalued” equities back to more reasonable levels. While the outlook for stocks has remained uncertain and price action has become increasingly more choppy, this may well change over the next few weeks as […]

The US dollar index created a double bottom on February 16 near 88.20, posting a new more than 3-year low. The double bottom reversal is a bullish pattern indicating further gains on the price action as the index jumped above the significant area of 90.45. Currently, the price is recording a 7-week high near 90.75. In the daily […]