GOLD is having a good year, thanks to a weaker dollar. YTD, gold has gained 4% and I believe there is more to come. As shown in the chart below, gold passed the four-month high of $1357 last week. As it regularly happens, financial assets tend to retrace after hitting a significant high. The same […]

GOLD is having a good year, thanks to a weaker dollar. YTD, gold has gained 4% and I believe there is more to come. As shown in the chart below, gold passed the four-month high of $1357 last week. As it regularly happens, financial assets tend to retrace after hitting a significant high. The same […]

Here are the latest developments in global markets: Forex: The dollar consolidated gains earned early in the day on the back of rising US bond yields which jumped to peaks last seen in 2014. The dollar index was trading at 89.60 (+0.22%) and dollar/Yen was steady at 108.70 (+0.05%). Euro/dollar eased to 1.2397 (-0.19%) as […]

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, further bearish decline was expected towards 0.6800 (Reversal pattern bearish target). Evident signs of […]

This is the Dukascopy Spike Controller for Monday with a look at the average and peak spread levels for the 3 non-cross majors. Euro/Dollar’s long term average spread is point 4 pips and maximum separation has been 2.1 pips. A single trend hasn’t formed so far this week and the biggest move is a decline […]

Just a day before the Fed starts its two-day monetary policy meeting, the Bureau of Economic analysis will release figures on the core personal consumption expenditure price index (PCE), the Fed’s most preferred inflation measure. However, the results are less likely to drive to a rate hike on Wednesday as markets are already pricing in a “no-change” […]

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Chinese citizens continue to invest in BITCOIN and the crypto market, despite the government’s intense attack. In September 2017, the Chinese cryptocurrency exchanges BTCC China, Huobi, and OKCoin were closed by the government. At some point, the management of these exchanges could not leave the country because of a government investigation into local cryptocurrencies. Three […]

The new week starts well with the US Dollar, although the changes are not big enough to look for a specific justification for the willingness of market participants to take profits off the table. The stock market in Asia has a mixed session behind, Nikkei 225, for a moment, enjoyed an increase of 0.65%, but […]

27th January 2018 was yet again a day dedicated to education: XM hosted a free seminar in Kuala Lumpur, Malaysia, for online investors interested in learning about the most essential details related to CFD trading. For all those who are truly committed to keeping pace with the latest changes that affect the global CFD markets, […]

Here are the latest developments in global markets: Forex: The dollar index traded marginally higher on Monday, recouping some of the losses it posted on Friday. Meanwhile, the Yen remained relatively elevated after shooting up on Friday, following some remarks from BoJ Governor Kuroda. STOCKS: Asian markets were mixed. In Japan, the Nikkei 225 closed marginally lower, while […]

These are the Main Daily Trading Signals for Monday. Here’s how the technicals compare with the interbank at 8 AM GMT. Euro/Dollar sees 4 bearish signals in the short-term. The mid-term is split between red and neutral models, and the daily outlook sees 4 buy prompts, matching the more than 39% long interbank. Bearish models […]

Morning Report: 07.00 London The dollar index is recovering this morning after a poor week that compounded 2018’s weakness. We have an extremely busy week ahead with Trump’s state of the union address, Non Farm Payrolls and much more. Most dollar pairs are slipping back, including the AUD/USD which remains one of the top performers […]

There was a general increase in volatility last week across the board due to Davos and a busy economic calendar. On Friday, BOJ’s Kuroda made comments in Davos concerning the Japanese economy, saying the contrast between recovery and inflation stands out more than anywhere else and the economy is expanding moderately and will continue. It’s […]

EURUSD has been underperforming in the previous couple trading days, creating a pullback on the 3-year high, the 1.2540 resistance level. When looking at the bigger picture the pair holds a clear trend to the upside as it recorded the sixth bullish week in a row. However, the short-term technical indicators are pointing for a […]

The US dollar index remains in a bearish trend. The dollar index will need to break above last week’s high in order to confirm that at least a short-term low is in. The dollar index should break above 90.60 to change short-term trend. Red lines- bearish channel The dollar index is trading inside the red […]

GOLD price is showing signs of weakness and could pull back towards cloud support of $1,330 before resuming the upward trend. Trend remains bullish. Gold price is trading below both the Tenkan- and Kijun-sen. Besides, it is trading above the 4 hour cloud. The short-term trend is bullish as long as price is trading above […]

Burning Forecast 01/29/2018 EURUSD: Ahead of a long range. Last week, a lot of important news came out. ECB: No rate increases in 2018. We will stimulate economic growth. The Euro exchange rate of 1.2500 to the dollar is not a concern. US Finance Ministry in Davos: The decline of the dollar is good for […]

NZD/USD is expected to trade with bullish bias above 0.7290. The pair remains in an uptrend and is now trading above its 20-period and 50-period moving averages. A strong support base at 0.7290 has formed and has allowed for a temporary stabilization. Last but not least, the relative strength index is bullish above its neutrality […]

Technical outlook: The EUR/USD spiked through mid 1.2500 levels before pulling back sharply last week. Once again the pair has proved it’s not yet done on the north side. A complete wave count has been displayed on the daily chart here which indicates that EURUSD might have completed the 5th wave or would do so […]

Good Monday morning, it’s a new trading week and a new Support and Resistance Level Report. Euro/Dollar is trading in the range limited by R1 of 1 2470 and S1 of 1 24. R2 is a psychological level with 4 models, and Bollinger Upper Band is among the 2 models for R1. The highest resistance […]

Monday 29th January at 13.30 GMT – US Core PCE, which is the monthly measurement of core spending level. December estimates are for 0.2% MoM and 1.5% YoY. US Personal Spending is also released at the same time. The December figure estimate is 0.5% MoM. Monday 29th January at 23.30 GMT – Japan Unemployment Rate. […]

When the European market opens, only German Import Prices m/m will be released. The US will also release the Economic Data such as Personal Income m/m, Personal Spending m/m, Core PCE Price Index m/m, so amid the reports, EUR/USD will move in a low to medium volatility during the day. TODAY’S TECHNICAL LEVEL: Breakout BUY […]

In Asia, Japan will not release any Economic Data today but the US will release some Economic Data such as Personal Income m/m, Personal Spending m/m, Core PCE Price Index m/m. So, there is a probability that the USD/JPY pair will move with low to medium volatility during the day. TODAY’S TECHNICAL LEVEL: Resistance. 3: […]

Wave summary: We have seen the expected consolidation after the break above 1.6937. This consolidation is expected to continue a while longer, before the next resistance at 1.7064 is ready to be challenged and once broken, a continuation higher to 1.7360 and 1.7479 should be seen on the way higher to 1.7777. Short-term support in […]