The Bank of England is expected to largely proceed as normal today on ‘Super Thursday’ when the central bank releases its policy decision and statement plus the Inflation Report. US Fed’s Dudley spoke at an event jointly hosted by Thomson Reuters and the European American Chamber of Commerce in New York about Banking Culture. Dudley […]

In the past year, the price of Crude Oil has surged by more than 50%. In June, the price bottomed at $42 a barrel and then started a rally that saw it reach a three-year high of $66 last month. This week however, the rally seems to have ended with the price of WTI falling […]

Technical outlook: The EUR/USD price action nears to the wave 4 termination point near the 1.2220/50 levels, as depicted on the daily chart here, with the last wave being highlighted. The 5th wave is expected to resume from around the 1.2200/20 levels if the above wave counts hold to be true. Please note that fibonacci […]

USDCAD has been quite impulsive with the bullish gains recently which is expected to continue further in the coming days. USD has been the dominant currency since the recent Employment Change report was published with the significant increase which had a positive impact on the currency to gain against CAD. Ahead of the Employment Change […]

EUR/GBP has recently rejected off the 0.89 resistance area having downwards sloping trend line which is expected to push the price lower towards the 0.8750 support area in the coming days. The consolidation in the pair was due to mixed economic reports on both currencies of the pair where GBP is currently expected to take […]

Daily Outlook In July 2017, an atypical Head and Shoulders pattern was expressed on the depicted chart which indicated upcoming bearish reversal. As expected, the price level of 0.7050 failed to offer enough bullish support for the NZD/USD pair. That’s why, a further bearish decline was expected towards 0.6800 (Reversal pattern bearish target). Evident signs […]

Monthly Outlook In January 2015, the EUR/USD pair moved below the major demand levels near 1.2050-1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450. In March 2015, the EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August […]

NZD/USD is under pressure and expected to move further downward. The pair accelerated on the downside. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index calls for a drop. Hence, as long as 0.7270 is not surpassed, look for a further decline with targets at 0.7160 […]

Wave summary: There was no time for a deeper corrective decline in the wave ii. After the direct break above 1.6976 we are looking for a direct break above the resistance at 1.7101 that confirms a continuation higher towards 1.7479 on the way higher to 1.7777. Support is now seen at 1.6976 and again at […]

Wave summary: EUR/JPY has declined nicely from the resistance near 135.75, but we do think, that a more complex b-wave correction could be unfolding. If this is the case, then a final rally to just above 135.75 could be seen before the next real downside pressure takes place towards 131.20 and below. That said, we […]

The index managed to do a rebound above the 200 SMA and gathered momentum towards the 90.30 level. A higher continuation is expected once USDX does a break above 90.63. To the downside, the 200 SMA continues to provide dynamic support but if it gives up, the bearish side could get again another breath. H1 […]

GBP/USD made another leg lower and is consolidating losses below the resistance zone of 1.3937. However, we might expect a resume of the bullish bias in the nearest term and if that happens, the 200 SMA at the H1 chart could be challenged. If it manages to break below 1.3850, doors will open for a […]

When the European market opens, some Economic Data will be released such as German Trade Balance. The US will release the Economic Data too, such as 30-y Bond Auction, Natural Gas Storage, and Unemployment Claims, so, amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Breakout […]

In Asia, Japan will release the Economy Watchers Sentiment, 30-y Bond Auction, Current Account, and Bank Lending y/y data, and the US will release some Economic Data such as 30-y Bond Auction, Natural Gas Storage, and Unemployment Claims. So, there is a probability the USD/JPY will move with a low to medium volatility during this […]

The price is testing major resistance 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 (Fibonacci retracement, breakout […]

The price has reversed perfectly from our selling entry yesterday and is working its way towards our profit target. We remain bearish looking to sell on strength below major resistance at 1.3991 (Fibonacci retracement, horizontal pullback resistance, double top breakout level) for a strong push down to at least 1.3639 support (Fibonacci extension, double top […]

GOLD has long been tormented, suffering between the largest drop in US stock Indices in the past 6.5 years and the decline in the yield of US Treasury bonds. Moreover, the dollar is strengthening. Ultimately, the last factor won, forcing the quotes of the XAU / USD pair to collapse to four-week lows. Impressed with […]

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The Australian dollar posted an incredible rally of 8.5% against its US counterpart during early December and late January, fully reversing the September-December downtrend and setting a 2½-year high of $0.8135. However, that rally is now looking in trouble, with the pair declining 3.5% from its January 26 peak and technical indicators turning negative. But […]

USDCHF bears have been leading the market since November, driving the pair to a 2½-year trough of 0.9246 last week. This week, however, bulls seem to be taking back control, with prices being on track to break two-week highs. In the 4-hour chart, technical indicators suggest that the recent uptrend could be in play in the near-term. The […]

Overview The 55 moving average carried on forming additional support at 151.00 to confirm the GBP/JPY pair’s affection by the bullish bias for the near- term and medium-term trades. Thus, we are still waiting for new chances of gaining the bullish momentum. Then, we can expect the main targets starting from 153.50, followed by 50% […]

Overview GOLD price ended yesterday’s trading below 1,335.40 that confirms the return of the correctional bearish trend in the intraday trading. We are waiting for a test of the 1,316.48 level as the next station. Therefore, the bearish trend is suggested for the short term, supported by the EMA50. Please note that breaking the target […]

Overview Silver traded with a downward bias yesterday, aiming to test the key support of 16.56. This is needed to keep the price stability above it. Besides, stochastic is still providing positive signals on the daily time frame. Such price action encourages us to keep the overall bullish scenario for the short term. We are […]

One of the major hallmarks of the Bull Run after the financial crisis was the lack of volatility. The implications of this lack of volatility has been dire. In the past few quarters, the trading revenues from big investment banks has fallen while others have been forced out. As shown in the chart below, the […]

Silver has come under pressure since Tuesday’s session, in the short-term timeframe. The price slipped below the 16.73 barrier and continues the strong bearish movement. As a side note, the precious metal has been trading within a descending triangle since July 2016. In the short-term timeframe, technically, the bias is bearish. Momentum indicators are also endorsing the decline. The MACD […]