Overview The GBP/JPY pair formed a new bearish wave yesterday to approach support of the sideways range at 148.35. Until that moment, the price will remain trading sideways if the main levels settle, represented by the current support and the resistance at 151.00. Interestingly, strong negative momentum is provided by the main indicators, particularly stochastic […]

Overview GOLD price came under strong negative pressure yesterday evening to settle at 1,316.48 level. Please note that the price finds solid support at this level, reinforced by stochastic positivity. On the other hand, the EMA50 creates negative pressure that might push the price to break the mentioned level and extend the correctional bearish wave […]

Overview Silver traded with an obvious downward bias yesterday. Now silver is aiming to reach the key support 16.25. As we mentioned in our recent articles, holding above this level keeps the bullish scenario valid for the short term. The next main target is set at 17.43. Therefore, we still suggest the bullish trend on […]

http://www.elliottwave.com/Investor-Research/Financial-Forecast-Service?tcn=ytv1703 The mainstream financial press analyzes every word of the Fed’s discussions about interest rates. But the evidence shows that the U.S. central bank does not lead on rates. These two charts are revealing. http://www.elliottwave.com/r.asp?rcn=ytvideos1403&url=http://www2.elliottwave.com/club/signuplt/newsletters.aspx Learn How the Wave Principle Can Improve Your Trading

GOLD PRICES steadied at multi-week lows on Wednesday as the Dollar paused its gains but world stock markets followed Wall Street lower after new Federal Reserve chair Jerome Powell told US lawmakers to expect further interest rate hikes.   Extending its sharpest 1-week drop of 2018 to date, gold fell another $20 per ounce between […]

GOLD dropped back lower yesterday, with a loss of the 1330.00 area. It is currently trading around 1317.00, with yesterday’s low at 1312.90. Further support comes at 1311.14 and the 13000.00 level. Below is 1289.50 and 1276.40. The chart shows that, so far, a higher low has been created above the support levels reached in […]

USDSEK has turned bullish in the short to medium term, hitting a 2-month high of 8.2693 earlier today. The pair is currently trading above its moving averages (MA), while the 20-day MA is attempting a bullish crossover with the 50-day MA.  The MACD is also pointing to a continuation of the month-long uptrend as it […]

First trading day of March is extremely busy with economic publications, but we’ll try to wrap up shortly what the potential market movers could be. Swiss data run opens this agenda and fourth quarter GDP is out first at a quarter to 7 AM. Economy expanded by point 6% in the third quarter of last […]

The inflation in the Eurozone is a hot topic today on the markets in light of the publication of preliminary readings. After weaker than expected preliminary estimates from Germany, there was the possibility of a negative surprise with indications from the Eurozone. The German CPI index slowed in February to 1.4% from 1.6% annually. As […]

Recently, GOLD has been trading downwards. As I expected, the price tested the level of $1,313.44 and reached both of our yesterday’s targets. According to the 30M time – frame, I found a bearish flag (pennant) pattern in creation, which is a sign that buying looks risky. I also found a hidden bearish divergence on […]

Jerome Powell did not say anything during his inaugural speech before the Congress that would undermine the growing confidence among the global investors that his term would be marked by a more decisive normalization of monetary policy. The base scenario for the market is not the expectation of a maximum of three but a minimum […]

Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.2198. According to the 1H time – frame, I found a bearish breakout of 3-day balance in the background, which is a sign that sellers are in control. I also found that the pair is trading inside of the downward channel, […]

USD/JPY The pair is bearish in the long term, but neutral in the short term. There are demand levels at 106.50, 106.00 and 105.50, which would impede bearish movements and they would eventually help bring about a bullish reversal. The outlook on JPY pairs remains bullish for this week, and the USD/JPY pair is no […]

EUR/JPY On this cross pair, the southward journey has resumed (though the price did nothing significant at the beginning of the week), but the current Bearish Confirmation Pattern in the market has been upheld. The more price journeys southwards, the more the probability of a strong reversal in the market, which may overturn the current […]

USD/CHF has started moving upwards in a predictable manner, thus ending the short-term consolidation that was witnessed on Monday and Tuesday. The market is currently above the support level at 0.9400, going towards the resistance level at 0.9540, which would be breached to the upside, as another resistance level at 0.9500 is targeted. The EMA […]

The BITCOIN (BTC) has been trading downwards. As I expected, the price tested the level of $10,353. In less than five hours, Zclassic will fork to create bitcoin private, a new privacy-oriented coin that uses zk-snarks to obfuscate transactions. Holders of bitcoin and zclassic will both be eligible to receive bitcoin private (BTCP) on a […]

Here are the latest developments in global markets: Forex: The dollar index held onto gains during early European afternoon as investors’ optimism that the Fed would raise rates more than three times this year heightened further after Powell’s major testimony in front of the House Financial Committee yesterday. Jerome Powell, the new Fed boss, reiterated that […]

The quotations of GOLD futures fell to 2-week lows against the background of “hawkish” comments by Jerome Powell. Speaking before the Congress, the head of the Federal Reserve expressed confidence in the rapid achievement of inflation targeting, noted the strength of the world economy and a significant fiscal stimulus. In his view, the headwinds that […]

It’s noon GMT on this Wednesday and time for us to take a look at the performance of the market players. Euro/Dollar has traded in a limited range of only 42 pips, but trading has been typical in terms of volume. Sentiment of the traders is neutral, short positions are up by 6%. The narrow […]

Wednesday morning saw stocks predominantly in the red, as Powell’s recent comments seem to have pushed the USD higher and led to a sell-off of risky assets. Yesterday, the Fed’s new chairman said that strong economic data is fuelling confidence in accelerating inflation, which could force the Central Bank to restrain the economy to prevent […]

In his first public appearance, the new Federal Reserve Chairman Jerome Powell, yesterday hinted that the Fed could raise interest rates more quickly this year, as the U.S. economy grows along with a pickup in inflation and wages. The U.S Dollar surged to the upside in reaction to these hawkish comments. The stronger U.S Dollar, […]

The US 30 index finished Tuesday’s trading 1.3% lower after previously reaching a near four-week high of 25,819,90. Despite yesterday’s notable decline, the Tenkan- and Kijun-sen lines remain positively aligned, continuing to project a bullish picture in the short-term. However, both have flatlined, this being a sign that positive momentum could be losing steam. Should […]

Consumer spending in the United States likely slowed at the start of 2018, data on Thursday is forecast to show, while the Federal Reserve’s preferred gauge of inflation is not expected to reveal an immediate risk of an uptick. The data on personal income and spending will be the first since the better-than-expected wage growth […]

It`s Wednesday and you`re watching the Dukascopy Spike Controller, where we`ll take a look at the benchmark interbank price stats for 3 non-cross majors. All three averages measure just slightly above the point 3 pip mark for the Euro/Dollar. Biggest separation has been 2.1 pips. Past 24 hours have been bearish for the Euro, the […]

EURJPY has been plunging since February 21 and recorded the fifth consecutive negative trading day on Wednesday. During today’s European session the pair created a new 5-month low of 130.73 and holds below the 131.15 key level, which was acting as a strong obstacle for the bulls. This penetration suggests an aggressive bearish roller coaster. […]