Good morning, traders, you’re watching this week’s last Support and Resistance Level Report. Euro/Dollar saw some volatility yesterday, but it now is back between R1 of 1 2460 and S1 of 1 2410. Price Channel Indicator Upper Line is among the 2 models for R2, while the other two resistance lines have found a single […]

Markets have had a volatile session this week thanks to various US officials and yesterday was no exception, with President Trump speaking in Davos. He made comments about the TPP, saying he would do a deal if it was ‘substantially’ better. On NAFTA he said he may terminate or may not and that they were […]

All our downside targets which we predicted in previous analysis have been hit. NZD/USD under pressure. The pair broke below its intraday “symmetrical triangle” pattern, which should confirm a bearish reversal. Both the 20-period and 50-period moving averages are turning down, and should continue to push the prices lower. In addition, the relative strength index […]

USD/CHF has been the most impulsive with the bearish gains recently, whereas USD did not get any opportunity to pullback against the strong trend after breaking below the 0.97 price area. USD has been the weakest currency since the interest rate hike on December and from that period USD has been struggling to get over […]

EUR/AUD has recently bounced off the 1.55 event area after the EUR Minimum Bid Rate report was published as expected. EUR has been the dominant currency in the pair whereas AUD is currently trying to gain momentum. Recently EUR Minimum Bid Rate report was published unchanged as expected at 0.0% and ECB Press Conference was […]

Wave summary: EUR/NZD has broken above minor resistance at 1.6937 confirming that wave ii completed at 1.6630 and wave iii higher towards 1.7360 and 1.7777 is developing. Short-term, we might see a sideways consolidation just below 1.7065 before the next impulsive rally higher. Support at 1.6800 will ideally be able to protect the downside for […]

When the European market opens, some Economic Data will be released such as Private Loans y/y and M3 Money Supply y/y. The US will release the Economic Data too, such as Durable Goods Orders m/m, Advance GDP Price Index q/q, Core Durable Goods Orders m/m, and Advance GDP q/q, so, amid the reports, EUR/USD will […]

In Asia, Japan will release the SPPI y/y, Monetary Policy Meeting Minutes, Tokyo Core CPI y/y, National Core CPI y/y, and the US will release some Economic Data such as Durable Goods Orders m/m, Advance GDP Price Index q/q, Core Durable Goods Orders m/m, Advance GDP q/q. So, there is a probability that the USD/JPY […]

Wave summary: We did see another run to the 136.30 resistance level and do expect a new attack on important support near the mark of 135.00. This support still needs to be broken clearly to confirm that the wave (D) is completed at 136.63 and the wave (E) lower is developing, with the first minor […]

Reason for the trading strategy (fundamentally): There has been slightly more good news coming in lately which is causing BITCOIN to hold well above the 10,000 mark. Good news revolve around Singapore’s MAS (Monetary Authority of Singapore) believing bitcoin won’t cause a financial meltdown like the 2008 Lehman Brothers bankruptcy, along with stock trading mobile […]

The price is testing major support at 0.7312 (Fibonacci retracement, horizontal overlap support, long-term ascending support, bullish price action) and a bounce could occur at this level to push the price up to at least 0.7436 resistance (major swing high resistance, Fibonacci extension). RSI (55) sees a long-term ascending support line since November 2017 hold […]

The broad-based weakness in the US Dollar Index continues to dominate the overall picture across the board, as the index is making a breakout of the support level at 89.36. Currently, USDX is on the way to test the next support which lies at 87.88. If a rebound happens in the current area, then the […]

The pair continues to trade in a strong bullish tone and it’s now heading towards the resistance zone of 1.4393. Around such area, we expect a take profit to be tested by the Cable and one could see a pullback to correct the overall bullish bias. To the downside, the nearest support lies at 1.4060. […]

Davos is the highest town in Europe, standing at more than 1 and a half kilometer high and it continues trend high on news this week, so let’s see what’s moving and shaking on the FX Markets. Dollar/Swissie is the mover of the day as Greenback weakness continues and the pair has declined by a […]

Sterling is on track to post its best weekly performance against the dollar since September as the currency managed to gain 3.0% in just four days, flying from 1.3900 to 1.4327. Brexit optimism, the dollar’s weakness as well as stronger than expected UK economic indicators were among the catalysts that persuaded investors to increase their net-long positions in the […]

Our downside targets which we predicted in yesterday’s analysis have been hit. USD/JPY is under pressure. Though the pair made a rebound, it is still capped by a declining 50-period moving average. The upside potential should be limited by the key resistance at 109.60. Even though a continuation of technical rebound cannot be ruled, its […]

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The Euro Rises to the 3-Year High Following Draghi’s Forward Guidance. The ECB’s Monetary Policy Committee (MPC) concluded their January meeting today. As expected, the committee left rates unchanged. The base interest rates remained at 0% while the deposit facility rates were left at –0.40%. As mentioned yesterday, this month’s meeting came at an interesting […]

Overview The USD/JPY pair carried on with its decline to succeed touching our yesterday’s projected target at 109.05. Please note that the price continues the negative pressure and attempts to break the mentioned level which supports the chances of a further bearish trend on the longer term basis. In case the break is confirmed, this […]

Overview The GBP/JPY pair managed to resume the bullish attack to record 155.90 level as it is displayed on the chart. Please note that it is important to monitor the price behavior now as it is forming 50% Fibonacci correction level. Breaching this barrier will confirm a further upward bias for the short term that […]

Overview GOLD price is testing the support base formed at 1,357.50 after breaching it previously. The price needs to hold above this level to ensure the continuation of the expected positive scenario in the short term. The EMA50 still supports the price and protects it inside the bullish channel that appears on the chart. So […]

Overview Silver price is fluctuating at 17.43 now. As long as the price is above this level, the bullish trend will remain dominant in the upcoming sessions. Breaking it will put the price under the negative pressure again. The price may visit areas that start at 16.75 before any new attempt to rise. The EMA50 […]

A sense of anticipation can be felt across financial markets ahead of ECB meeting. It is widely expected that the central bank leaves monetary policy unchanged. Much focus will be directed towards Mario Draghi’s press conference. The Dollar remains under intense selling pressure while Sterling continues to venture higher. In the commodity arena, GOLD has […]

GOLD PRICES hit new 17-month highs against the Dollar above $1360 per ounce at the start of London dealing on Thursday, rising as the US currency extended its slump after President Donald Trump’s Treasury Secretary said he welcomed a “weak Dollar”.   Gaining for the 12th time in 18 trading days so far in 2018, […]

The ECB rate decision which is due at 12.40pm GMT and the Press Conference which is scheduled for 13.30pm GMT are probably the most anticipated market event for this trading week. No rate change is expected at this time, but the majority of the market participants will closely watch and listen for any changes in […]