In the December ECB meeting, there was no new news. As expected, the MPC left rates unchanged and signaled a continuation of their easing program. As you recall, in the October meeting, the committee announced a plan to continue implementing the asset purchases until September this year. This January, the asset purchases will be reduced […]

In 2017, the dollar fell more than 10% against its global peers. Among the currencies that strengthened against the dollar was the Canadian Dollar. The dollar fell from a high of 1.37844 to a low of 1.2063 in September. After that, the dollar tried to recover, rising to the 1.2902. It didn’t go well. As […]

We would like to inform our clients that due to Martin Luther King Jr. Day and Australia Day, the trading hours of various instruments will be affected on 15 and 26 January 2018. The normal trading hours will be resumed from then onwards. Please review the tables below to see which instruments will be affected […]

Good morning, traders, the Dukascopy TV team is here with another Support and Resistance Level Report. Euro/Dollar is currently trading in the range limited by R1 of 1 1990 and S1 of 1 1940. R2 is confirmed by Bollinger Upper Band, Price Channel Indicator Upper Line, a 2 year high and 4 other studies, and […]

GOLD price made a new high yesterday near $1,328 but the oscillators did not confirm it and price fell back down towards $1,315. Price is trading in a sideways manner right now in a tight range. Blue line – diverging highs Red line – support Gold price is trading above the Ichimoku clouds. Trend remains […]

Burning Forecast 01/11/2018 EURUSD: We expect a strong move. On Thursday, Forex traders are waiting for two important news that can stir the market: The report from the last meeting of the ECB – on the expectation of market data that was shown yesterday on January 10, a sharp increase and a strong pullback afterwards. […]

USD/CHF has been quite volatile with the bearish gains recently which lead some corrections along the way towards 0.97 to 0.9850 area. CHF has been quite positive with the economic reports this week which lead to recent bearish pressure where USD failed to sustain its gains. The trend is still bearish while USD have some […]

Morning Report: 07.00 London This morning, the Australian dollar is powering higher on better than expected retail sales. The AUD/USD is performing better, but it’s the AUD/JPY that is setting the pace and erasing most of yesterday’s losses. The Yen pairs are generally performing well as the week’s earlier yen surge retreats. The USD/JPY and […]

During yesterday’s trading session headlines broke that China would reduce or halt its purchase of US Treasuries. This set off moves in Currencies, Commodities, Bonds and Stock. GOLD reached a high of 1327.5, the US 10-Year got to a high of 2.59%, SPX 500 fell to 2736.50, while USDJPY fell to 111.285. GBPUSD jumped up […]

USDJPY has turned more bearish in the near term after the break below the key 112 level and 200-day moving average yesterday to reach its lowest level in six weeks. Momentum is weak and the daily RSI is indicating a bearish bias after dipping below 50. Risk remains skewed to the downside until prices make a […]

The first data on the dynamics of prices in the US are not encouraging. Import and export prices, indirectly reflecting trends with consumer inflation, could show growth against the background of a weakening dollar in recent months. However in practice, the data came out slightly worse than expected. Export prices decreased in December by 0.1% […]

EUR/GBP has been corrective for a few months now which is expected to have a break upward as of the current market structure. EUR and GBP have been fighting over to define a specified trend in the pair where EUR is expected to have an upper hand in the coming days. EUR has been better […]

The price continues to hover around our selling area and is forming a nice reversal signal with a strong shooting star candlestick formation signaling selling pressure. We are still unable to break through our ascending channel which would be the major trigger for our bearish move. For now, we remain bearish below major resistance at […]

The price has dropped strongly and is now testing major support at 111.37 (Fibonacci extension, horizontal swing low support, bullish bat harmonic formation) and we expect to see a strong bounce above this level to push the price up to at least 112.13 resistance (Fibonacci retracement, horizontal pullback resistance, Fibonacci extension). Stochastic (55,5,3) is seeing […]

EUR/USD: The pair made both bullish and bearish attempts on Wednesday. The market is a kind of directionless at the moment, but a movement of 100 pips to the upside or to the downside is still expected this week. A movement to the downside would bring about a bearish bias, and the support lines at […]

The index managed to make a pullback at the 200 SMA, according to the H1 chart, following a series of fractals formed across the board. USDX is now looking to test January 3rd lows in an effort to strengthen the bears for the short-term. If the index manages to break above the resistance level of […]

GBP/USD is hovering around the 200 SMA and remains well supported by the 200 SMA at the H1 chart. If a rebound happens around that area, the next target to the upside lies at 1.3589, where a breakout should open the doors to test the critical psychological level of 1.3700. To the downside, we cannot […]

http://www.elliottwave.com/Investor-Research/Financial-Forecast-Service?tcn=ytv1703 Stock market bulls are having a “happy new year” indeed, and at least one Wall Street bank expects equity prices to be even higher at the end of 2018. The bulls may end up being right, but from observing market behavior for almost 40 years, here at EWI we know this… http://www.elliottwave.com/r.asp?rcn=ytvideos1403&url=http://www2.elliottwave.com/club/signuplt/newsletters.aspx Learn How […]

The Australian dollar had a strong upside rally in the previous four weeks, driving the aussie/dollar pair to a new three-month high. A question is if the prices will continue to rise after the release of retail sales overnight and more importantly during the year as the Reserve Bank of Australia (RBA) remains concerned about […]

Chinese trade data for the month of December are scheduled for release on Friday at 0445 GMT. Analysts forecast exports and imports to grow solidly, though at a softer pace relative to November, a month during which both figures stormed past expectations to expand by double digits on a yearly basis. Exports and imports are […]

The Nikkei 225 was on a tear in 2017, as Japan’s economic recovery and the Bank of Japan’s (BoJ) massive stimulus program helped the popular index to reach multi-decade highs, finishing the year 21.5% higher. A continuation of this environment could support the Nikkei even further in 2018, though the pace of the index’s appreciation […]

There have been some significant shifts on the FX markets on this Wednesday, so let’s see where the 8 majors trade at 3 PM GMT. Sterling took a sharp slide against the Japanese Yen and the pair has lost 1.25%, which is the day’s top move. US stocks have opened in the negative territory and […]

EURJPY extended its bearish phase by dropping another leg lower into the 133 handle. The downtrend since January 5 from the high of 136.63 has not shown signs of reversing. RSI on the 4-hour chart is well into bearish territory although close to oversold levels. This suggests some easing in downside pressure for now. Short-term […]

EUR/GBP Technical Analysis: Just a Matter of Time In the past five days, the EUR/GBP pair has fallen from a high of 0.8926 to a low of 0.8806 as shown below. Since then, the pair has been going back and forth, trying to establish weak support and resistance points between the 0.8834 and the 0.8806 […]

Thursday brings a number of known market movers, so let’s take a closer look. Coming up first at 9 AM is the high importance preliminary estimate of German Annual GDP for 2017, and the market consensus is that the German economy has picked up speed. Bank of England fourth quarter Credit Conditions Survey follows 30 […]