Thanks to an improving external background and unexpected growth of US stocks by 1.6 million barrels, by the end of the week by February 16, Oil futures managed to close 8 out of the last 9 trading sessions in the green zone. Where are the fears that the extraction of black GOLD in the United […]

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The British Pound (GBP) has come under renewed pressure amid the ongoing Brexit drama. Hopes of an orderly Brexit, supported by the main opposition Labour Party, were dashed on Monday as the party took a different stance. Labour is seeking a completely different Brexit deal involving a new customs union with the E.U., which raises […]

A sense of anticipation was felt across financial markets on Tuesday as investors prepared for Fed Chair Powell’s testimony. The British Pound remained depressed thanks to a stabilizing #Dollar. In the commodity arena, #GOLD was pressured by renewed US rate hike expectations. Dollar bulls could receive a welcome boost if markets interpret Jerome Powell’s first […]

CADJPY has been plunging in the past three weeks, breaking below the 85.45 key level during the previous sessions. The aggressive sell-off drove the pair below the 20 and 40 simple moving averages in the daily timeframe, while the short-term indicators seem in confusion. It is worth mentioning that the pair recorded a fresh 8-month […]

Eurozone flash inflation figures for the month of February are scheduled for release on Wednesday at 1000 GMT. Price pressures are anticipated to ease on an annual basis, with market participants potentially extrapolating from the numbers to what European Central Bank policymakers will likely decide on when they next meet in March.   Headline CPI […]

EUR/JPY On this cross, the southward journey may soon be over this week, which could have been harbingered by the slight rally in the context of a downtrend (which happened on February 26), and which would eventually remove the current Bearish Confirmation Pattern in the market. The outlook on JPY pairs is bullish for this […]

USD/JPY The market was bearish in the long-term. On Monday, nothing significant happened except a tight, sideways movement. There are demand levels at 106.50 and 106.00, which would impede bearish movements and they would eventually help bring about a bullish reversal, which is expected to take place before the end of this week. When a […]

USD/CHF The market did nothing significant on Monday, and thus the bias on the market is neutral in the short-term (while the medium-term bias is bearish). It is expected that this short-term neutral bias would continue for some time until there is a breakout in the market, which would most probably favor bears. There are […]

Let’s find out what economic news reports are scheduled for publication on the final trading day of February. German GfK Consumer Climate for March opens this agenda at 7 o’clock in the morning. Consumers in Germany are making an extremely optimistic start to 2018 as index edged higher to 11. Second estimate of French GDP […]

Weekly Technical Analysis of the Forex Markets – to guide your trading using technical indicators such as moving averages, RSI, Fibonacci, Ichimoku.

GOLD PRICES fell as new US Fed chair Jerome Powell began his first testimony to lawmakers on Tuesday, retreating to last week’s closing level as the US Dollar rallied from a fresh drop on the currency market.   New data meantime missed analyst forecasts, showing the US trade deficit in goods widening badly even as […]

Here are the latest developments in global markets: Forex: Major currencies were trading flat during early European afternoon as investors were waiting for the new Fed chair, Jerome Powell, to make his first major appearance before the US Congress later today. Market watchers were cautious as any language tweaks could spur noise not only in forex […]

In his speech in the European Parliament, The European Central Bank (ECB) president Mario Draghi demanded a central role in the supervision of clearing central counterparties (CCPs), yet struck a more flexible tone than some European politicians who want the multi-trillion Euro clearing industry to be removed from London City. Draghi made it clear that […]

The currency market shows no major signs of life, and investors focus on the Fed Chair’s J. Powell afternoon speech. The text of Jerome Powell’s speech will be published at 03:30 pm GMT and the meeting in front of the Financial Services Commission will start at 05:00 pm GMT. The main attention, however, will be […]

GBP/USD has been quite bearish recently above the support area of 1.3850-1.3950 from where the price is expected to push lower in the coming days. Ahead of the high impact economic reports this week, USD is expected to take the lead in the pair whereas mixed economic reports of GBP published recently is holding the […]

USD/JPY is currently consolidating below 107.30-50 price area from where the price is expected to push lower. Ahead of USD high impact economic reports to be published today, the market is quite indecisive having positive JPY economic report today. JPY BOJ Core CPI report was published today with an increase to 0.8% from the previous […]

We are half-way through the trading day on this Tuesday and it’s time for the Midday Snapshot. Euro/Dollar has made no significant moves, but the pair still sees an average amount of funds. Sentiment of the traders is neutral, both sides have been represented in similar numbers. There have been no significant profit opportunities due […]

WTI Crude Oil futures are edging marginally lower today, following the pullback from the 3-week high of 64.20 resistance level. When looking at the bigger picture, price action maintains a bullish tone, however, a small downside retracement is possible. In the short-term timeframe, the technical indicators seem to be slightly negative. In the 4-hour chart, from the technical […]

Overview: The USD/CHF pair could not break the major support at the 0.9328 level yet. The level of 0.9328 coincides with 50% of Fibonacci retracement which is expected to act as major support today. Equally important, the RSI is still signaling that the trend is upward, while the moving average (100) is headed to the […]

In the 4-hour timeframe, USDJPY has managed to hold above the 106.000 level and is this morning in a range between the 50-period MA at 107.112 and the supporting blue trend line at 106.353. Below the supporting trend line, the 106.30 level comes into play, with a move below targeting the 105.623 trend line and […]

The BITCOIN (BTC) has been trading upwards. The price tested the level of $10.751. The Supreme Court of Israel issued a temporary injunction order on Monday forbidding Bank Leumi from sweepingly halting the account activity of the Bits of GOLD bitcoin exchange. This is seen as a major victory in the Israeli cryptocurrency industry that […]

Overview: As expected, the NZD/USD pair continues to move downwards from the areas of 0.7337 and 0.7314. Last week, the pair dropped from the level of 0.7337 to 0.7280, which coincides with a ratio of 23.6% Fibonacci on the H4 chart. Today, resistance is seen at the levels of 0.7337 and 0.7280. So, we expect […]

Recently, GOLD has been trading downwards. As I expected, the price tested the level of $1,330.70. Anyway, I found a breakout of the upper channel, which is a sign that buying looks risky. I also found an overbought condition on the stochastic oscillator, which is another sign of weakness. My advice is to watch for […]

Recently, the GBP/USD pair has been trading sideways at the price of 1.3958. Anyway, according to the 30M time – frame, I found a broken intraday bearish flag pattern, which is a sign that sellers are in control. I also found an overbought condition on the stochastic oscillator, which is another sign of weakness. My […]