The Dollar index remains weak and in a bearish trend. Price is making new lows after we warned that a rejection at 92.60 would be a bearish sign for a move lower. There are some divergence signs in the current downward move so Dollar bears just need to be cautious. Breaking above 92.40 would be […]

Trading plan 12/01/2018 The picture: The dollar is ready to decline. The inflation data in the U.S came out – inflation is below the forecast and it is not growing. At the same time, data on retail sales came out. There is good growth, although this might be a seasonal effect following the growth of […]

These are the Main Daily Trading Signals for Friday. Here’s how the technicals compare with the interbank at 8 AM GMT. First up is the Euro/Dollar with 5 and 6 bullish models on its short and mid-term charts, respectively. The daily outlook is divided between green and neutral signals, but the interbank is bullish at […]

GOLD price made a new higher high overnight. Trend remains bullish. Price remains supported. RSI is diverging. Bulls remain in control of the trend. Red lines -bearish divergence signs Gold price has short-term support at $1,316 and resistance at $1,330.50. I’m still bearish but price does not follow my view. Price remains supported above the […]

Burning Forecast 01/12/2018 EURUSD: The way up is open. On Thursday, important data on inflation in the US came out: inflation is below forecasts, and is practically not growing. For the Fed, there is no reason to rush in hiking rates – at least for the time being. The Euro predictably went upwards. Keep buying […]

Morning Report: 07.00 London This morning, the Euro remains on a high after surging yesterday on the back of Hawkish ECB minutes which appeared to point to change in forward guidance in coming months. The EUR/USD has been pushed back to the recent highs, while the EUR/JPY erased most of Wednesday’s losses. The EUR/GBP has […]

It’s time for this week’s last Support and Resistance Level Report. Here’s how our in-house model tests out. Euro/Dollar has gained some ground and now stands between R1 of 1 2060 and S1 of 1 2030. The lowest resistance line has found 8 matches. R2 is backed up by Price Channel Indicator Upper Line, a […]

US FED’s William Dudley spoke on Thursday at the Securities Industry and Financial Markets Association in New York. “Over the longer term I am considerably more cautious about the economic outlook,” said Dudley, “Keeping the economy on a sustainable path may become more challenging,” due to the risk of ‘’overheating’’. He made the point that […]

In 2017, the dollar fell against many currencies. Against the Euro, the dollar fell by a whopping 8%. This fall was attributed to a strengthening the Euro and investors worry about Trump’s policies on trade. The Bull Run ended on September when the pair reached the 1.2094 level. It then started going down, eventually reaching […]

USDCAD remains weak following a drop below the key 1.2700 level and out of a 2-month range. In the near-term, the pair has a firmer undertone after making a recovery off 3-month lows and is now testing 1.2500 which is seen as a strong support level. The odds for a sustained rebound are low at […]

AUD/JPY has been quite bearish recently after bouncing off the 89.00 price area and currently residing just above the support area of 87.30. AUD has been the dominant currency in the pair for a while now, but JPY gained good momentum due to positive economic reports published recently. Recently AUD Retail Sales report was published […]

When the European market opens, some economic data will be released such as Italian Industrial Production m/m and French Final CPI m/m. The US will post a series of economic data too such as Business Inventories m/m, Retail Sales m/m, Core Retail Sales m/m, Core CPI m/m, and CPI m/m. So amid the reports, EUR/USD […]

In Asia, Japan will release the Economy Watchers Sentiment, Current Account, and Bank Lending y/y. The US is also going to present some economic data such as Business Inventories m/m, Retail Sales m/m, Core Retail Sales m/m, Core CPI m/m, and CPI m/m. So there is a probability the USD/JPY pair will move with low […]

Wave summary: Wave (ii) should be close to completion and set the stage for a strong rally in wave (iii) higher. Short-term the first good indication that wave (ii) has completed, will be a break above minor resistance at 1.6668, while a break above 1.6890 will confirm wave (iii) has take over for a rally […]

Wave summary: EUR/JPY is following our projected path to perfection. We are looking for a corrective rally from 133.09 higher into the resistance-area between 134.82 to 135.25 from where the next decline should be seen below 133.09 with the next downside target seen near 131.30. In the larger picture, we saw the completion of wave […]

The price is testing major resistance at 1.2057 (Fibonacci retracement, horizontal overlap resistance, bearish butterfly harmonic formation) and we expect to see a reaction off this level to push the price down towards 1.2018 before 1.1982 (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance at 97% where a corresponding reaction could occur. […]

China’s central bank, the People’s Bank of China (PBOC), attracted some attention this week after it was revealed that it has suspended using the counter-cyclical factor in calculating the daily fixing for the yuan. Having been introduced in May 2017 to counter speculative bets in Forex markets, the surprise move is seen as a reflection […]

The German DAX managed to gain 12.5% in 2017, even despite the withdrawal of some stimulus by the European Central Bank (ECB) and a stronger Euro. So far in 2018, the popular index has posted one of its strongest starts to a year, rising by more than 2.5% in just a few days. The DAX […]

The Japan 225 index has eased somewhat after recording a multi-decade high of 23,997 earlier in the week. The Tenkan-sen line being above the Kijun-sen line is a positive alignment pointing to bullish momentum. However, both lines are flat at the moment, this being a sign of positive short-term momentum losing steam. Also, the picture in […]

Here’s what’s moving and shaking on the FX Markets at 3 PM GMT on this Thursday. Euro/Canada saw a sharp increase after noon GMT and the pair has gained point 8% to post the day’s top move. Single currency was boosted by bullish publication of the European Central Bank’s December meeting minutes and it’s on […]

WTI Crude Oil futures have been skyrocketing over the last four weeks, recording a new three-year high of 64.05. In the daily timeframe, the price has just successfully surpassed the 161.8% Fibonacci retracement level of the last big bearish movement with the high at 55.40 and the low at 42.00. The aggressive run started after the rebound on the […]

BITCOIN has recently bounced off the $13,000 price area as expected and currently it is held by the dynamic level of Tenkan and 20 EMA which acts as a resistance and may push the price much lower in the coming days. Recently bitcoin has been going through a lot of pressure due to diversification of […]

The GER30 index has experienced a pullback from the latest highs at 13426.80. After yesterday’s selling pressure it has failed to retrace the move and has instead produced a sideways consolidation pattern. The channel has been formed, and despite breaking down below the channel bottom at the end of 2017, price action returned to within […]

Global stocks were mostly mixed on Thursday as investor anxiety over US-led trade war dented risk sentiment. In the currency arena, the Dollar was under pressure while Sterling remained gripped by the Brexit uncertainty. WTI jumped to multiyear highs on Thursday at $64 after an unexpected draw in U.S Crude inventories lifted sentiment. – The […]

Yesterday afternoon was quite abundant in the statements of the American central bankers. The series of speeches was opened by Neel Kashkari, a representative of the Fed from Minneapolis, resigning from commenting on the aspects related to the strategy of gradually raising interest rates. Kashkari maintains the conviction that FOMC members should lean on improving […]