Yesterday, the cable rose to the highest weekly level after the Bank of England’s interest rate decision. At 12.00, as expected, the BoE left interest rates unchanged. As usual, this was expected and possibly didn’t matter much to traders. Instead, they focused on the monetary policy statement accompanying the statement. They wanted to see the […]

USDCAD rose as high as 1.2620, a level last experienced on December 28 and is posting a bullish rally following the rebound on the 1.2250 support level last Friday. Additionally, dollar/Loonie is in progress to record the second consecutive green week as it also successfully surpassed the 23.6% Fibonacci retracement level at 1.2470 of the […]

GOLD price is in a bearish short-term trend as price is below both the tenkan- and kijun-sen indicators. Gold is making lower lows and lower highs and is expected to move towards $1,300-$1,280 area once we break below $1,307. Blue lines – horizontal support Despite the risk off sentiment in equity markets and the weak […]

Breaking forecast 02/09/2018 EURUSD: Buy on an upward breakthrough. The situation on the market is complex: The second strongest drop in the US market in a week completely confused the cards of the largest financial institutions – there is a reassessment of positions and adaptation to the new situation. It is believed that a new […]

Morning Report: 07.00 London This morning, the dollar index is recovering after the latest bout of volatility which saw the DOW Jones lose more than 1000 points. The dollar made small losses, with gains made this morning. Generally, currency markets have avoided the worst of stock market volatility. The AUD/USD has continued its losing run, […]

The global equity markets are bracing themselves for a stormy closing session this week, as data from Thomson Reuters’ Lipper unit shows US fund investors withdrew the largest amount from US-based equity exchange-traded funds on record. The amount totals $23.9 billion coming out of equity ETFs in the week. The reason cited by the research […]

Technical outlook: The EUR/USD story continues as expected yesterday during early New York Session, when prices dropped through 1.2200/20 levels again before rallying or pulling back. The pair is seen to be trading around 1.2250/60 levels at this moment in time, and is expected to have either bottomed out at 1.2210 levels or is very […]

Wave summary: Did the wave ii complete at 1.6914, or is there another stab to this low needed to complete the wave ii? At this point, it could go both ways. Only a clear break above the minor resistance at 1.7015 will confirm that the wave ii has completed, or the wave ii is developing […]

Wave summary: Corrections take a turn early or keep moving deeper/higher than initially expected. This is exactly, what we expect the EUR/JPY pair to do. Instead of turning higher from the support at 133.96, EUR/JPY continued lower to the next support at 133.01 in the wave b/ of an expanded flat b-wave correction. This means […]

When the European market opens, some Economic Data will be released such as Italian Industrial Production m/m and French Industrial Production m/m. The US will release the Economic Data too, such as Final Wholesale Inventories m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: […]

In Asia, Japan will release the Tertiary Industry Activity m/m and M2 Money Stock y/y data, and the US will release some Economic Data such as Final Wholesale Inventories m/m. 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: 109.40. Resistance. […]

The price is now testing our major resistance area at 1.2582 (Fibonacci retracement, Fibonacci extension, impulsive Elliott wave structure, horizontal swing high resistance) and we expect a strong reaction from this level to drive the price down to 1.2407 support (Fibonacci retracement, horizontal overlap support). It’s important to note the intermediate support level at 2.2458 […]

The return of market volatility reminded investors about the advantages of the US dollar, which they have recently stubbornly ignored. The rapid growth in Treasury yields, the increase in the likelihood of four federal fund rate increases and the potential overclocking of US GDP to 3% under the influence of fiscal stimulus can not be […]

GOLD PRICES bounced $10 per ounce from new 5-week lows against a rising US Dollar in London on Thursday, rallying to $1316 as Western stock markets also fell hard once again.   Commodities held flat, but major government bond prices dropped, driving longer-term interest rates higher.   Benchmark UK Gilt yields neared the highest since […]

Overview GOLD price crawls downwards gradually on its way towards our expected target at $1,301.20. As long as the price is below $1,316.48, the bearish trend scenario will remain active for today. Note that breaking the target level will extend losses and bring gold prices to the level of $1,285.90 as a next station. Breaching […]

Overview Silver price keeps trading in the negative zone, moving away from 16.56 level. It supports continuation of our bearish overview. Our long-awaited target is located at 15.49, while holding below 16.56 represents the most important condition to continue the suggested decline. The expected trading range for today is between 16.00 support and 16.50 resistance. […]

Our first target which we predicted in the previous analysis has been hit. USD/JPY is expected to trade with a bullish outlook. Currently, the pair is trading at levels around the ascending 20-period moving average, which has just crossed above the 50-period one. And the relative strength index has managed to stay above the neutrality […]

All our upside targets which we predicted in yesterday’s analysis have been hit. USD/CHF is expected to trade with bullish outlook. The pair recorded higher tops and higher bottoms since February 1, which confirmed a positive outlook. The rising 50-period moving average acts as a support. The relative strength index is above its neutrality level […]

The Bank of England released its ‘Super Thursday’ data earlier, with the Interest Rate left on hold at 0.5% and Asset Purchase Facility maintained at £435B. All votes were unanimous. The Quarterly Inflation Report projected inflation at 2.28% in 12 months time, 2.16% in 2 years and 2.11% in 3 years. GDP forecast for 2018 […]

Failing that, ask its pension fund for a few index-linked Gilts…   The BANK of ENGLAND announced its latest policy decision in London today, writes Adrian Ash at BullionVault.   In effect it told UK investors and savers to buy GOLD. Because gold tends to rise when interest rates fail to rise faster than the […]

All our targets which we predicted in the previous analysis have been hit. GBP/JPY is expected to trade with a bullish outlook. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintains the bullish bias. The relative strength index is supported by an ascending trend line. Therefore, […]

Today, the Bank of England’s (BoE) Monetary Policy Committee (MPC) completed its two-day policy meeting. In their meeting, the committee voted unanimously to leave the interest rates at the current level of 0.5%. The traders expected this. What the traders didn’t expect was the committee’s deep statement. In the statement, they unanimously agreed that there […]

The New Zealand Dollar fell to a four-week low against the greenback after the Reserve Bank of New Zealand (RBNZ) kept rates on hold as expected and signalled no increases until next year. The official cash rate was left unchanged at 1.75% for the 15th month in a row. RBNZ cut its GDP forecast for […]

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The morning session is over on this Thursday; let’s see how things are shaping up for the market players. Euro/Dollar declined by 70 pips after hours of relatively flat trading. Turnover is low and neutral sentiment of the traders is leaning towards the long side by 7%. Late decline has provided some profit opportunities for […]