NZDUSD is hovering at 4-month highs close to the key 0.7300 level. After extending a rally to 0.7330 on Wednesday, the market took a breather and is consolidating gains. The uptrend from December remains intact and NZDUSD maintains a bullish bias, with scope for another leg higher. NZDUSD is currently testing the 0.7300 level and focus […]

Here are the latest developments in global markets: Forex: The US dollar index continued to recover on Thursday, trading nearly 0.4% higher and extending the gains it posted on Wednesday on the back of rising US treasury yields. STOCKS: Asian markets were mixed. Japan’s Nikkei 225 and Topix Indices fell by 0.4% and 0.7% respectively, while Hong Kong’s […]

This morning, ahead of the European markets open at 07.00am GMT, we saw the release of a range of data from China. Chinese Retail Sales came in at 9.4% v an expected 10.1%, from a previous 10.2%. Industrial Production came in at 6.2% v an expected 6.0%, from a previous 6.1%, and probably the most […]

USDJPY has made a recovery to regain the 111 handle but the pair essentially remains in a neutral phase since mid-September. Momentum oscillators have improved and could potentially lead to another leg higher. There is immediate resistance at the 200-day moving average at 111.68. Prices need to at least rise above the 50-day MA (currently […]

The GOLD price is making lower lows but Ichimoku cloud trend remains bullish as price remains above the 4hour cloud. Key technical and cloud support remains at $1,309 and as long as we are above it, the trend remains bullish. Red lines – bearish divergence signs Green line – support trend line Short-term support is […]

EURUSD: Growth under pressure. On Wednesday evening, the Fed’s Beige Book report came out. The report was generally in very mild tones, but investors saw in it signs of increased growth and the risk of inflation. On these news investors sold the Euro to the dollar. But the growth of the euro has not been […]

USD/JPY is expected to trade with a bullish outlook. The pair shows an upward momentum after breaking above the declining trend line since January 15. Both rising 20-period and 50-period moving averages maintain the bullish bias. The relative strength index advocates for a further upside. Hence, above 110.90, look for a new advance with targets […]

USD/CHF is expected to trade with bullish bias above 0.9615. The pair has clearly reversed up and now stands firmly above its 20-period and 50-period moving averages, which now act as strong support roles. The relative strength index is bullish above its neutrality area at 50. Hence, above 0.9615, a new bounce seems to be […]

All our upside targets which we predicted in the previous analysis have been hit. The pair is moving upward and is expected to challenge the next resistance at 154.25. The 20-period moving average is turning up now and calls for a new rise. Additionally, the relative strength index managed to break above its neutrality area […]

Technical outlook: The EURUSD daily chart setup has been presented here to have a bigger picture. The pair seems to have either completed an impulse after its rally began from Jan 2017, or it is in the last leg within the 5th wave as labeled here. In either case, a drop is expected towards at […]

NZD/USD is consolidating. The pair posted an intraday “V-reversal” pattern yesterday and is likely to post some consolidations in sight. The relative strength index has broken below its neutrality area at 50 and is now mixed to bearish. Therefore, as long as 0.7330 is resistance, expect a new pullback to 0.7260 and 0.7230 in extension. […]

Wave summary: EUR/NZD continues to follow the expected path. After wave i peaked at 1.6937 a corrective decline in wave ii has begun unfolding. This wave ii corrections will likely test the 61.8% corrective target of wave i at 1.6678 before turning higher in wave iii towards 1.7360 on the way higher to 1.7777. Short-term, […]

Wave summary We see no reason to change our expectation of a resistance at 136.10 being able to cap the upside for a break below support at 135.00 for a decline to 131.11, from where a new corrective rally is expected. Short-term a break below minor support seen at 135.42 will indicate more downside pressure, […]

When the European market opens, there’s no Economic Data will be released today, but the US will release the Economic Data too, such as Crude Oil Inventories, Natural Gas Storage, Philly Fed Manufacturing Index Housing Starts, Unemployment Claims, and Building Permits, so, amid the reports, EUR/USD will move in a low to medium volatility during […]

In Asia, Japan will release the Revised Industrial Production m/m and 30-y Bond Auction data, and the US will release some Economic Data such as Crude Oil Inventories, Natural Gas Storage, Philly Fed Manufacturing Index Housing Starts, Unemployment Claims, and Building Permits. So there is a probability the USD/JPY will move with a low to […]

Morning Report: 07.00 London This morning, the dollar is easing off the pace following a day of solid gains yesterday. These gains came as Dallas Fed President Robert Kaplan outlined that three rate hikes were his baseline for 2018. At the same time, the dollar’s main counterparty – the Euro slumped as ECB officials expressed […]

Forex Market Reviews: http://thefxlounge.com/#Market-Review -GBP continues to gain vs the USD. -BTC is off the bottom, will it stay there? -Aussie employment data mixed but positive on balance. -Korean rates on hold but Canada raised by 0.25%, -Two Euroland Central bankers are speaking today -Apple is to bring back US$250 bln. -What keeps Europeans awake […]

Precious metals became the main beneficiary of the weakness of the US dollar. The impressive growth of the world economy allowed palladium to hit record highs near $1,140 per ounce. From the beginning of the year, platinum added almost 8% and is one of the leaders of the commodity market. GOLD managed to break through […]

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Overview This week, GOLD price hit a high at 1,344.70. At present, the metal is showing a slight bearish bias from there. Please note that stochastic is still providing positive signals on the intraday time frames, while the EMA50 continues to carry the price from below. Therefore, we keep our bullish overview on the intraday […]

Overview Silver price bounced upwards clearly after a decline yesterday as the EMA50 managed to protect the price from suffering more losses. Now, the price is on track to the key resistance of 17.43 again. Therefore, our bullish outlook remains valid for the short term. Please note that breaching the mentioned level will push the […]

On Tuesday, after the three-day weekend, American investors returned to markets. They did not have much information on which to base the index movement as there was no reaction after the publication of the January NY Empire State Index data, but let us note that the index was 17.7 points while the market participants expected […]

GOLD PRICES pulled back from 4-month highs above $1340 per ounce for the third day running in London on Wednesday, again trading lower for non-Dollar investors as the US currency fell once more.   Asian and European stock markets also headed south after Wall Street marked a “key reversal” from fresh all-time record highs for […]

CADJPY remains under pressure after the pullback on the 4-month high of 91.60. The pair plummeted towards the 88.50 support level and is now developing within the two medium-term simple moving averages of 50 and 100, at 88.60 and 89.12 respectively. Looking at the daily timeframe, technical indicators are holding near their neutral levels. The MACD oscillator slid below its trigger line […]