After the breakout from the Pennant Pattern on the 4-hour chart, Kiwi is trying to test the first target level at 1.3669. If the USD/CAD pair sustains its bullish bias, it may rise to the 1.3756 level. This scenario is likely to come true If the pair does not decline and close bellow the 1.3551 […]

To open long positions on EUR/USD, you need: Yesterday, the report of the European Central Bank and forecasts of economists did not greatly please the market, as well as the fact that the number of initial applications for unemployment benefits in the United States stopped declining, indicating the possibility of a backward wave of growth […]

Palladium futures have consolidated below the 1,853 level, that being the 50.0% Fibonacci retracement of the up leg from 1,353 to 2,354, after yesterday challenging the bottom of a one-month trading range. The latest negative push within the range has some backing from the bearish overlaps of the mostly horizontal 200-period simple moving average (SMA) […]

The main direction of the USD / CAD pair is upward, so buy positions are currently the most profitable in the medium term. The nearest resistance is the monthly control zone in June, the lower border of which is located at the highs of last week. This increases the likelihood of a stunt in the […]

EUR/USD Yesterday, the European Central Bank announced its intention to expand the provision of liquidity outside the eurozone – to the central banks of countries that are not included in the currency bloc. The euro lost 34 points. The euro completed its first bearish target at 1.1195 on the daily chart. The Marlin oscillator has […]

GBP/USD The British pound traded in a small range on the Fibonacci line of 138.2% (1.2424) yesterday. The price is currently located on the red balance indicator line on the daily chart, under which will pave the way to the 1.2235 target at the Fibonacci level of 161.8%. Marlin in the zone of negative values […]

AUD/USD The Australian dollar grew by 18 points on Thursday, but did not go above the target resistance level of 0.6900, which confirmed the daily consolidation below it and the intention to continue moving to the target level of 0.6680 (peak on March 9). In turn, the Marlin oscillator is stuck under the border of […]

USD/JPY The yen was caught up in a complex and difficult range to trade, it is indicated by a gray area on the daily chart. US stock indices also formed a two-week horizontal trend and the current situation for the USD/JPY pair looks uncertain from the technical point of view. The price still needs to […]

Trading Recommendation Entry: 0.68926 Reason for Entry: 38.2% Fibonacci retracement, graphical swing high Take Profit: 0.68456 Reason for Take Profit: 78.6% Fibonacci retracement, ascending trendline support Stop Loss: 0.69186 Reason for Stop Loss: 61.8% Fibonacci retracement The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Technical Analysis – EURUSD poised for more downside… […]

GBP/USD 1H If the EUR/USD currency pair continued its downward movement yesterday, then the GBP/USD currency pair stayed in one place almost the entire day – in the support area of 1.2403-1.2423, having failed to overcome it. Thus, a further hike down is delayed until the bears manage to overcome this area. The overall technical […]

EUR/USD 1H Traders continued to retreat from the resistance area of 1.1328-1.1343 on the hourly timeframe on June 25 and worked out an ascending trend line by the end of the trading day, which continued to support traders to rise. The first attempt to overcome the trend line was unsuccessful, so for now, the bulls […]

4-hour timeframe Technical details: Higher linear regression channel: direction – upward. Lower linear regression channel: direction – downward. Moving average (20; smoothed) – downward. CCI: -46.2769 The British pound also continued its downward movement during the fourth trading day of the week, but much more modest than the euro currency. However, the most important thing […]

4-hour timeframe Technical details: Higher linear regression channel: direction – upward. Lower linear regression channel: direction – upward. Moving average (20; smoothed) – sideways. CCI: -42.0018 For the euro/dollar currency pair, the fourth trading day of the week was in a downward movement. Thus, everything would have been perfectly beautiful if the pair had not […]

4-hour timeframe Technical details: Higher linear regression channel: direction – upward. Lower linear regression channel: direction – upward. Moving average (20; smoothed) – sideways. CCI: -42.0018 For the euro/dollar currency pair, the fourth trading day of the week was in a downward movement. Thus, everything would have been perfectly beautiful if the pair had not […]

On March 20, the EURUSD pair has expressed remarkable bullish recovery around the newly-established bottom around 1.0650. Bullish engulfing H4 candlesticks as well as the recently-demonstrated ascending bottoms indicated a high probability bullish pullback at least towards 1.1065 (Fibo Level 50%). However, a previous bearish Head & Shoulders pattern was demonstrated around the price zone […]

Recently, Bullish breakout above 1.2265 has enhanced many bullish movements up to the price levels of 1.2520-1.2590 where temporary bearish rejection as well as a sideway consolidation range were established (In the period between March 27- May 12). Shortly after, transient bearish breakout below 1.2265 (Consolidation Range Lower Limit) was demonstrated in the period between […]

EURUSD: The important US data came out which turns out to be negative. The unemployed again rose to 1.5 million per week and the long-term unemployment of 19.5 million. There is not much progress. On the other hand, orders for durable goods came out positive with a sharp increase of 15% in May after a […]

The Reserve Bank of New Zealand at its last meeting, which was held yesterday, June 24, tried to reduce the exchange rate of the national currency. In part, it succeeded: the New Zealand dollar reacted negatively to the “dovish” rhetoric of the RBNZ, and in pair with the US currency weakened by almost 100 points, […]

The price of gold rises today. The price of futures contracts for delivery in August moved to the level of $ 1,774.75 per troy ounce, which reflected an insignificant but growth of 0.02%. The support of the precious metal was at around 1,728.30 dollars per troy ounce, and the resistance, in turn, moved to the […]

The cost of crude oil began to decline rapidly this morning. This is due to the increasing number of newly reported cases of coronavirus in the world. In addition, the news about the growth of raw material reserves in the United States of America seriously pressed the black gold market. The rise has been happening […]

The UK 100 index (Cash) is pausing its downside movement around the 50-day simple moving average (SMA) shifting the very short-term picture to the downside. According to the momentum indicators, the MACD is moving beneath its trigger line, marginally above the zero level, while the RSI dropped into the negative zone and is pointing south. A clear move below the 50-day SMA […]

USDCHF climbed above the 50-period simple moving average (SMA) in attempts to boost positive momentum in an already prevailing negative structure. The falling 100- and 200-period SMAs support the negative picture while the 50-period SMA suggests the pair may drag on to challenge the short-term descending line drawn from May 27. The short-term oscillators reflect […]

This morning, stock markets in the Asia-Pacific region declined due to the outbreaks of coronavirus infection, which continue to be recorded in the United States, China, and Latin America. Statistics on the number of newly infected cases are extremely disappointing. This makes investors think that a quick economic recovery is definitely not worth the wait. […]

Two months ago, the IMF reported a 3% reduction in global GDP, but now it expects a decrease of 4.9% as the quarantine measures are still in force. COVID-19 has caused widespread and profounder damage to the global economy than expected. Moreover, the IMF believes that in 2021, there will be a new major outbreak […]

Although the surge in new coronavirus cases and fears over the pandemic affect the economic recovery, the US dollar is moving up. Experts at Danske Bank noted that it is necessary to monitor the number of hospitalizations because new restrictions are likely to be imposed. In addition to a spike in new infections, a problem […]