To open long positions on GBPUSD, you need: Good data on business activity in the UK manufacturing sector and a practical return to the territory of 50 points of the index for the services sector became a driver for the strengthening of the British pound in the first half of the day. If you look […]
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To open long positions on EURUSD, you need: Good data on business activity in the Eurozone countries led to a rise in the European currency this morning, which I drew attention to in my morning forecast. If you look at the 5-minute chart, you will see how the bulls achieved a breakout and consolidation above […]
Asian stocks rise
This morning, stock markets in the Asia-Pacific region showed the growth that followed after yesterday’s uncertainty. Moreover, in some sectors, it even turned out to return to the previous positions which were lost after the decline. This time, the reason for the enthusiasm was the statement by the trade adviser Peter Navarro and the US […]
AUDUSD remains in a bullish trend as price continues to make higher highs and higher lows. AUDUSD has so far respected the bullish channel it started back early April. Price is now targeting the upper channel boundary around 0.7150. Blue lines – bullish channel AUDUSD is ready to make a new higher high towards 0.7150. […]
Technical Analysis – EURCHF exhibits signs for continued consolidation
EURCHF found a foothold at the 1.0635 level, that being the 23.6% Fibonacci retracement of the down leg from 1.1058 to 1.0504. The pair was unable to sustain the correction that extended above the 200-day simple moving average (SMA) and as such currently demonstrates weak directional signals, something also reflected within the Ichimoku lines. Although […]
Technical Analysis – USDCAD fails to surpass flat SMAs; negative in medium term
USDCAD looks to be flat over the last two weeks but is now penetrating the 23.6% Fibonacci retracement level of the down leg from 1.4170 to 1.3315 at 1.3518, inside the Ichimoku cloud. Also, the price holds beneath the 20- and 40-period simple moving averages (SMAs), confirming the neutral bias and the RSI is keeping […]
AUDJPY retreated recently after touching a one-year high near 76.80, but the pair found fresh buy orders at 72.70 and rebounded again. The structure of higher highs and higher lows on the daily chart remains intact, and the price is still trading above a three-month upside support line. If the 50-day simple moving average (SMA) […]
Analysis of EUR/USD and GBP/USD for June 23. Washington and Beijing are unsure whether to continue to comply with the terms
EUR / USD On June 22, the EUR/USD pair gained about 75 basis points and, thus, presumably completed the construction of the wave C in 4 in C in B. If this is true, then the instrument has moved on to building an upward wave 5. If the current wave markup is correct, then the […]
AUD/USD is pressuring a strong and critical resistance line after the failure to confirm a short term reversal. It is trading at 0.6924 level and it maintains a bullish outlook even if AUD/USD has escaped from a down channel. The next few hours could be crucial for the USD, which could resume its depreciation if […]
Forex News: 23/06/2020 – White House sends markets spinning, European PMIs lift euro
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Technical Analysis – WTI futures advance to 15-week high as bulls are back in play
WTI crude oil futures came close to breaking the 15-week high of 41.21 and the upper Bollinger band in the 4-hour chart. According to the RSI, the market could maintain positive momentum as the indicator is positively sloped above its neutral threshold of 50, though the MACD oscillator is still continuing with somewhat weak momentum above the zero […]
Trading plan for EUR/USD on June 23, 2020. The euro is on its way up. Coronavirus updates from around the world. News on
The table above contains coronavirus statistics as of the morning of June 23: According to the data, the pandemic wave in the US continues. The daily increase is still above 30 thousand, but mortality has decreased to less than 400. This suggests that the treatment methods may have worked. In Brazil, some stabilization has been […]
Bond yields in the eurozone are falling, in the hopes of a de-escalation between the German court and the ECB. Italy also reduced the cost of borrowing in the eurozone, as the changes in the German Supreme Court could lead to a decrease in confrontation with the European Central Bank. The current rift between the […]
Simplified wave analysis and forecast for EUR/USD and USD/JPY on June 23
EUR/USD Analysis: The last incomplete wave structure of the European currency started on March 20. Since the beginning of May, the final part of the wave (C) has been developing. Within its framework, a flat correction has been formed in the last 3 weeks, which has not been completed yet. Forecast: Today, there is a […]
EUR/USD and GBP/USD: Demand for risky assets returned after the resignation of Andreas Vosskuhle and the lifting of quarantine
Demand for the euro and the pound increased due to the resignation of Andreas Vosskuhle, president of the Federal Constitutional Court of Germany. Bulls took advantage of the news, as well as the removal of a number of quarantine restrictions in the UK. Meanwhile, in the US, the White House released contradicting statements, as adviser […]
From the point of view of complex analysis, you can see a rebound from the average level, which means that everything is going according to a previously set plan. Now, let’s talk about the details. The past trading day led to a rational pullback in the market, after a rapid downward movement in the course […]
Technical Analysis – EURJPY’s ascent salvaged by bounce on 200-day SMA
EURJPY is currently tackling the mid-Bollinger band at 120.90 after a rebound off the 200-day simple moving average (SMA). The deep retracement from the 13-month peak of 124.42 reached the 200-day SMA at the 119.43 level, which happens to be the 50.0% Fibonacci retracement of the up leg from 114.42 to 124.42. Looking at the […]
EUR/USD. June 23. COT report: are bull traders ready to return? To do this, they will need to close above the level of 1.1294
EUR/USD – 1H. Hello, traders! On June 22, the euro/dollar pair performed a fairly strong growth towards the upper border of the downward trend corridor. And even managed to perform a close over this line, which changes the current mood of traders to “bullish”. However, first of all, there were no events in the world […]
GBP/USD. June 23. COT report: bears are fighting back with their last strength. Andrew Bailey’s speech may lead to a new
GBP/USD – 1H. Hello, traders! According to the hourly chart, the pound/dollar pair performed a sharp reversal in favor of the British dollar on Monday and increased to the upper border of the downward trend corridor. The rebound of the pair from this line will allow it to expect a turn in favor of the […]
Good day, dear traders! Taking advantage of the weakness of the US dollar and the propensity of market participants to take risks, the British pound rose against the US currency on June 22. However, more on this later in the technical part of the review. In the meantime, a little on the subject of COVID-19, […]
Daily Market Comment – White House sends markets spinning, European PMIs bolster euro
Conflicting statements from White House on China send currencies and stocks for a wild ride But markets back to square one as dust settles, still in a good mood overall Nasdaq closes at new record as US virus cases ease back down European PMIs show France back in expansion, boost euro Navarro channels his inner […]
Technical Analysis – GBPUSD develops in ascending channel in short term
GBPUSD has been developing within an ascending channel over the last three months, hovering around the moving averages in the daily timeframe. The price started an upward move following the rebound on the 35-year low of 1.1409, remaining above the Ichimoku cloud, while the RSI is moving sideways near the 50 area. However, the MACD […]
Today we take a look at and see GBPJPY 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:Hot forecast and trading recommendations for EUR/USD… June […]
EUR/USD rallies and seems determined to reach new highs in the short term after the price has escaped from a minor Falling Wedge pattern. I said in yesterday’s analysis that EUR/USD could come back higher if the price confirms the continuation pattern. It seems that the correction has ended after EUR/USD false breakdown below the […]
Trading Recommendation Entry: 133.966 Reason for Entry: 50% Fibonacci retracement, Descending trendline resistance. Take Profit: 131.690 Reason for Take Profit: Graphical swing low Stop Loss: 135.227 Reason for Stop Loss: 76.4% Fibonacci retracement The material has been provided by InstaForex Company – www.instaforex.com Related Posts:GBPJPY reversing below descending trendline resistance! June 23, 2020 Trading RecommendationEntry: […]