Good morning, traders, you’re watching the Support and Resistance Level Report for Wednesday. Euro/Dollar has been moving in waves and now stands between R1 of 1 2250 and S1 of 1 2220. Bollinger Upper Band is among the 4 model for R1, whereas the upper two resistance lines have found 2 matches each. R2 is […]

Morning Report: 07.00 London This morning, the US dollar is rebounding, despite yesterday’s Empire State Manufacturing coming in below estimates. Dollar pairs are off the pace, while the Yen pairs rebound on dollar interest The EUR/USD is amongst the biggest fallers this morning, with the EUR/GBP dropping as the Pound holds relatively steady. Other dollar […]

The BOC is expected to deliver an Interest rate hike of 25bps today as it seeks to catch up with an economy that is flying high. BOC’s Governor Poloz will deliver his decision and Press Conference, where he will outline the factors involved in making the decision. Chief among them will be the broad underlying […]

AUDUSD has been in a bullish phase since December, reaching the key 0.8000 level today, its highest point since September 2017. The market is pausing the rally at the moment, shifting the immediate bias to neutral after becoming overstretched. The RSI on the daily chart is in overbought territory above 70. As upside momentum has […]

Wave summary: EUR/NZD has now seen a nice five wave rally from the 1.6518 low. A short-term top should be near for a corrective decline in wave ii to at least 1.6800 and possibly even closer to 1.6680 before the next impulsive rally higher to 1.7479 on the way towards 1.7777. A break below 1.6850 […]

Wave summary: No change in our view. We are looking for a break below minor support at 134.95 to confirm that wave B has completed and wave C lower to 131.11 is developing. Short-term a re-test of the resistance at 136.10 could be seen, but this resistance is expected to cap the upside for a […]

Our first downside target which we predicted in the previous analysis has been hit. The pair is capped by a declining trend line since Jan. 8, which confirmed a bearish outlook. The 20-period moving average is playing a resistance role. The relative strength index is also capped by a descending trend line since Jan. 16. […]

All our downside targets which we predicted in yesterday’s analysis have been hit. The pair extended its losses last night and is heading downward, without showing any reversal signal. The process of lower highs and lows remains intact, which should confirm a negative outlook. In addition, the relative strength index is bearish below its neutrality […]

Our first target which we predicted in the previous analysis has been hit. The pair is bouncing off its rising trend line support and has also broken above its key horizontal level at 152.00. The upside potential has been opened now toward 1.3920. In addition, a bullish cross has been identified between the 20-period and […]

NZD/USD is under pressure and expected to continue its downside movement. The pair remains capped by its falling 50-period moving average and is likely to test its next support at 0.7250. The nearest resistance at 0.7290 maintains the strong selling pressure on the prices. Last but not least, the relative strength index is mixed to […]

Reason for the trading strategy (fundamentally): Price has dropped strongly amid concerns in Asia as investors still keep an eye out on the crackdown in Korea. Most recently a senior official at the People’s Bank of China is reportedly calling for a wider ban on services related to cryptocurrency trading in the country. The goal […]

The price has dropped perfectly from our selling area yesterday before bouncing above our ascending support line. This ascending support line would need to be broken to trigger a strong bearish move down. We still remain bearish looking to sell below major resistance at 88.43 (61.8% Fibonacci retracement, Elliott wave corrective structure) for a drop […]

Technical outlook: A 4H chart view has been presented here which highlights the last wave (5) which could be unfolding as 5 waves at this point. As labeled here, it is quite possible that 3 waves might have completed with EURUSD spiking to new highs at 1.2323 levels and that wave 4 might be looking […]

When the European market opens, some Economic Data will be released such as German 30-y Bond Auction, Final Core CPI y/y, and Final CPI y/y. The US will release the Economic Data too, such as TIC Long-Term Purchases, Beige Book, NAHB Housing Market Index, Industrial Production m/m, and Capacity Utilization Rate, so, amid the reports, […]

In Asia, Japan will release the Core Machinery Orders m/m data, and the US will release some Economic Data such as TIC Long-Term Purchases, Beige Book, NAHB Housing Market Index, Industrial Production m/m, and Capacity Utilization Rate. So, there is a probability the USD/JPY will move with a low to medium volatility during this day. […]

EUR/USD: The EUR/USD has gone upwards by over 350 pips since last week. It has gone upwards by over 100 pips this week, resulting in a huge Bullish Confirmation Pattern in the 4-hour chart. Further bullish movement is anticipated, for the price would reach the resistance lines at 1.2350, 1.2400 and 1.2450. USD/CHF: This currency […]

It happened! What seemed like an impossible dream six months ago, managed to come true. “Bulls” in the North Sea grade tested a psychologically significant level of $70 per barrel, although they could not gain a foothold above it on the first attempt. Will they reach it the near future? On one hand, looking at […]

Just two weeks after the start of the new year, the Bank of Canada will be the first in line to decide on monetary policy and as forecasts suggest the central bank will likely go with another rate hike. Some could say, though, that now is not the best time for Canada to welcome higher […]

Overview Silver price settles near the key resistance at 17.43, and we are still waiting to breach this level to confirm extending the bullish wave towards our next target at 18.30, reinforced by the positive signal that appears on stochastic. In general, we suggest continuation of the bullish trend domination in the upcoming period unless […]

China’s economy is expected to slow slightly in the fourth quarter of 2017 as government measures to curb pollution and deleverage highly indebted corporations and regional authorities take hold. The slowdown is expected to continue into 2018 as the government winds down the fiscal stimulus that helped 2017 growth beat its own target of 6.5%. […]

US stocks are on a sharp rise, while the crypto markets are dropping, so let’s take a look at the performance of the 8 major currencies at 3 PM GMT. The day’s top move is a decline of point 51% and it’s posted by Euro/Canada. The pair started moving South after 6 AM. Canadian Dollar […]

The Euro had gotten to a high of 1.22960 against the USD yesterday, before retracing to test support at 1.22000 this morning. The rally higher over the last few days took place despite the fact that trend line support was lost on the 8th of January. The pair spent the next three trading sessions below […]

The US 30 index rose to a fresh record high of 26,084.50 during today’s trading after significant advancing in the days that preceded. The positively aligned and steep upward sloping Tenkan- and Kijun-sen lines are indicative of the bullish sentiment that is in place in the short-term. The RSI, which is rising as well, is […]

GOLD PRICES for Euro, UK and Japanese investors fell back near unchanged for 2018 so far on Tuesday and Silver fell to a small loss for the New Year as world stock markets pushed up to fresh record highs.   Industrial Commodities fell but major government bond prices rallied from their sell-off, pulling the yield […]

Today, the Office of National Statistics (ONS) released a series of data including the CPI, House Price Index, PPI, and RPI. However, traders were paying a closer attention to the CPI numbers for December. In December, the agency released inflation numbers of 3.1%. This was a shock to policy makers and traders. In fact, the […]