EURGBP has reversed from the upper surface of the Ichimoku cloud to the 0.9031 level, that being the 38.2% Fibonacci retracement of the up leg from 0.8281 to the 11-year high of 0.9498. Positive sentiment appears revived after the bounce on the supportive trend line pulled from the February 18 low of 0.8281. Further backing […]

The Japanese yen is trading mixed in relation to major world currencies, but the strengthening trend prevails. This is facilitated by the information background and macroeconomic data. Traders were enthusiastic about the growth of the index of business activity in the services sector, which jumped to 42.3 points from 26.5 points earlier. Although US data […]

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 […]

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 […]

Gold prices skyrocketed to a fresh seven-and-a-half-year high around 1,779, breaking the neckline of the head and shoulder pattern, endorsing the bullish structure in the short-term timeframe. The positive bias is confirmed by the RSI indicator, which is pointing slightly down, suggesting a possible pullback, while the MACD is extending its ground above the trigger line above the zero […]

Side by side with charity organizations around the world, XM remains dedicated to contributing with donations for the benefit of underprivileged children. Staying true to XM’s long-lasting collaboration with the One Dream One Wish Pancyprian Association for Children with Cancer and Related Diseases, this June, our company donated funds to contribute to the noble mission […]

The Fed’s favourite inflation index will hit the markets on Friday at 12:30 GMT along with personal consumption and income readings. The data could reflect a recovering appetite for consumption which could consequently give some room for improvement to the dollar. However, the gains could be modest as weakness in inflation may suggest more delays […]

On Tuesday, the European currency was supported by macroeconomic data that exceeded economists’ forecasts. The preliminary PMI for France’s manufacturing sector from Markit rose to its highest level in almost two years, to 52.1 from May 40.6. A similar indicator for Germany increased to a 3-month high, to 44.6 from 36.6. Moreover, preliminary PMI for […]

The Japanese currency is as volatile as the external fundamental background. The yen, paired with the dollar, can not determine the vector of its movement over the past few weeks. The USD/JPY pair fluctuates within the range of 106.00-107.10, although recently, the Japanese currency is more often located in the lower border of the price […]

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Good afternoon traders! A new trading idea for the USD/CHF pair. Over the last two months, the quotes of the pair fell by 3,400 pips, and moved down by 7,200 pips over the past year. Use grid trading to trigger a rebound, following the plan below: Place buy stop orders between the monthly low 0.93700 […]

Overview: The GBP/USD pair continued to move upwards from the level of 1.2430. Since yesterday, the pair has risen from the level of 1.2430 to the top around 1.2514. In consequence, the GBP/USD pair broke resistance at 1.2423, which turned into strong support at the level of 1.2423. In the H1 time frame, the level […]

On Tuesday, Mary Daly, president of the San Francisco Fed, defended the US central bank from critics, asserting that its emergency lending programs as well as monetary policy help not only the rich, but also the poor. She claims that the Fed provides assistance without exception. “There is really no clear distinction between the Main […]

EUR / USD The pair rebounded from the met support zone and is now testing the zone of influence of the monthly medium-term trend (1.1360). To exit the correction zone and restore the daily upward trend, players need to break through the resistance 1.1360 – 1.1422 (monthly Kijun + maximum extreme of the current correction) […]

According to recent reports, Brazil observed a huge jump in the number of new infections, at 40 thousand new cases per day (!!!). India is under the same situation, at 15 thousand new cases per day. The United States also saw a strong increase in new infections, which amounted to 36 thousand per day, 1.5 […]

According to recent reports, Brazil observed a huge jump in the number of new infections, at 40 thousand new cases per day (!!!). India is under the same situation, at 15 thousand new cases per day. The United States also saw a strong increase in new infections, which amounted to 36 thousand per day, 1.5 […]

The euro continues to rise amid increasing demand for risky assets, prompted by the improving data on manufacturing and service sectors that were published yesterday. Concerns on a second wave of the pandemic are also decreasing, as many medical experts doubt that it will occur across Germany and other countries in the eurozone, thereby ruling […]

The euro continues to rise amid increasing demand for risky assets, prompted by the improving data on manufacturing and service sectors that were published yesterday. Concerns on a second wave of the pandemic are also decreasing, as many medical experts doubt that it will occur across Germany and other countries in the eurozone, thereby ruling […]

Today we take a look at USDCAD and see how we are going to play the bounce! We use Fibonacci retracements, extensions, support/resistance, momentum and trend lines to identify trading opportunities in this exciting pair today! The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Trading plan for EUR/USD on June 24, 2020.… […]

The US currency continues to be in demand. Earlier, the dollar unconditionally dominated the EUR/USD pair, but now, the situation has changed. It has to deal with severe overloads, then suddenly rising, then sharply declining to critical values. The current situation is complicated by the problem of choosing the future path of the US currency. […]

USD/CAD is trading in the green on the H4 chart and it looks determined to reach new near-term resistance levels. The bulls have stepped in and they could push the pair higher if the USDX rebounds in the short term and if it recovers after the last day’s drop. The currency pair was into a […]

Dollar retreats after encouraging PMIs turbocharge euro Gold capitalizes on weaker dollar, reaches heights last seen in 2012 Stocks inch higher led by tech, despite US virus spike and rising bankruptcies RBNZ expresses discomfort with exchange rate, kiwi obliges Gold takes advantage of softer dollar Global markets continue to be torn between conflicting narratives, as […]

NZDUSD is dragging sideways as it lingers in a paused mode that has seized control of the ascent, something also reflected in the red Tenkan-sen line. Positive signals are still unbroken, sponsored by the Ichimoku lines and the rising 50-day simple moving average (SMA), in spite of the mostly flattened longer term averages (100- and […]

USDJPY has been in a consolidation mode over the last three months with an upper boundary at the 109.83 resistance level and lower boundary at the 106.57 support. The price has not improved its bullish move that started after the bounce off the 41-month low at 101.15 and it currently stands beneath the short-term moving averages (SMAs). Looking […]

GBP/USD – 1H. Hello, traders! According to the hourly chart, the pound/dollar pair also continued the growth process and secured over the downward trend corridor. Thus, the mood of traders on the pound/dollar pair also changed to bullish. The information background is now completely ambiguous for the pair. A huge number of different factors that […]