DOW Jones Industrial at the close increased 0.26% up to 24837,51 points, S&P500 increased by 0.18% up to 2687,54 points and NASDAQ went up by 0.16% up to 650,50.16 points. Technological companies, telecoms and development companies contributed the most to DJI increases as the global investors hope that at the end of the year the […]

It’s 3 PM GMT on the final trading day of 2017, so let’s see what’s moving and shaking on the FX Markets. The Cable is the mover of the day with an increase of point 63% and the pair has been heading higher throughout the session. Sterling wraps up this year with a bullish run […]

Overview: As expected, the USD/CHF pair continues to move downwards from the areas of 0.9800. Yesterday, the pair dropped from the level of 0.9800 to 0.9757, which coincides with a ratio of 23.6% Fibonacci on the H4 chart. Today, resistance is seen at the levels of 0.9800 and 0.9849. So, we expect the price to […]

The South Korean government will announce that it will forbid domestic cryptocurrency exchanges to allow users to make transactions via anonymous accounts. As part of what appears to be a series of updates aimed at improving the supervision of industry practitioners, the government will also try to prohibit banks from issuing new virtual accounts on […]

This week, as expected, markets experienced thin volumes as investors celebrated the Christmas holidays. Still, the markets saw major moves especially with the cryptocurrencies. On Monday, the major cryptos tried to recover from the major losses experienced last week with BITCOIN trading above $16,000. However, on Thursday, the cryptos started falling as South Korea announced […]

Just before the start of the last session in 2017 on the Old Continent, the leader is NZD/USD with 0.3% gains. Based on the upcoming data on inflationary pressure, it may partly count the Euro (0.1%), which is trying to stabilize the EUR/USD rate above 1.1950. The Pound sterling (0.2%) and the Japanese Yen (0.2%) […]

Find out how the morning session has been shaping up for the currency traders on this year’s last trading day by watching the Dukascopy Midday Snapshot. Euro/Dollar has made a move towards the 1 20 level and the pair stands point 4% in the green at noon. Turnover is average and neutral sentiment of the […]

2017 has been a very successful year for investors and traders. Stock markets in most developed countries have had major double-digit growth. Investors in cryptocurrencies have seen their positions grow exponentially. Traders in Commodities had mixed results with palladium being the biggest winner. Here are my 5 predictions for the coming year. Dollar Strength in […]

The aussie enjoyed a decent run in 2017, but it is an open question if this will remain the case in 2018. Expectations for declines in iron ore prices and the prospect of a notable slowdown in the Chinese economy suggest that the risks surrounding the AUD over the coming year may be tilted to […]

Burning Forecast 29/12/2017 EURUSD: Buy from kickbacks. The Euro was on the growth trend in the final days of 2017. A break above 1.1900 and the consolidation above this level is a strong signal for growth. At the moment, the course is testing the next important resistance of 1.1960 – and, if successful, a target […]

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Here are the latest developments in global markets: Forex: The dollar index stretched its downtrend toward a fresh three-month low of 92.34 (-0.26%) as investors stood less confident on the outlook of the US economy, while gains in the Euro and the Pound pressured the index even further. Euro/dollar hit a three-month high of 1.1986 (+0.33%) and […]

EUR/USD: The EUR/USD pair has risen this week, moving from the support line at 1.1850, and testing the resistance line at 1.1950. There is a Bullish Confirmation Pattern in the market, and further upwards movement is expected, which may make price reach the resistance lines at 1.2000 and 1.2050. USD/CHF: The USD/CHF pair has dropped […]

We’ve reached the end of this trading year, so let’s have one final look at the benchmark interbank price data for the year 2017. Euro/Dollar’s long term average and maximum spreads are point 29 and 1 pip respectively. The pair has once again pushed towards the 1 20 level as it gained point 55% or […]

GBPUSD is edging sharply higher since last Wednesday, adding around 1% relative to Tuesday’s close and being well on track to post its fourth green day in a row. The price is still trading comfortably above the ascending trend line, which is roughly holding since March and is currently approaching the next immediate resistance level at 1.3550. The current risk is to the upside and the price […]

The Canadian currency outperformed most of its major peers in 2017. Whether that will continue or reverse in 2018 is likely to depend on monetary policy, the evolution of Oil prices, and developments in the NAFTA negotiations. With the market having already priced in a significant degree of monetary tightening, and with oil prices likely […]

Wave summary: A bottom is likely building for wave ii, but we still need a break above minor resistance at 1.6927 to confirm that wave iii is developing for a rally towards at least 1.7348 on the way higher to the ideal 1.7777 target. Support at 1.6800 should continue to protect the downside for the […]

EURUSD is posting a strong bullish rally over the last two trading days and reached a fresh one-month high of 1.1968 during today’s European morning session. In the short- to medium-term timeframe, the price is consolidating within a one-month narrow range with an upper boundary the 1.1960 resistance level and a lower boundary the 1.1710 support level. Now […]

Here are the latest developments in global markets: Forex: The dollar traded marginally lower against a basket of major currencies, touching its lowest level since late November. STOCKS: Japan’s Nikkei 225 closed lower, albeit by less than 0.1%, while Hong Kong’s Hang Seng was up by nearly 0.3%. Futures tracking the Euro Stoxx 50 were […]

Wave summary: Here is the final update in 2017 and we continue to look for a final spike higher to 137.37 to complete wave (D) and set the stage for wave (E) lower towards the ideal target at 123.43. The trading action since before Christmas has been very dull and nothing much is expected from […]

These are the Main Daily Trading Signals for Friday. Here’s how the interbank compares with the technicals at 8 AM GMT. Neutral models prevail on Euro/Dollar’s hourly chart, but the 4 and 24-hour scales turn bullish with 6 and 7 studies, respectively, and they are in line with the more than 16% long interbank. There’s […]

This year, the cable has struggled to recover from the losses it received following the Brexit vote in 2016. The chart has managed to move from a low of 1.1867 to the current price of 1.3463 with the main challenge being the recent flash election called by Theresa May. Nonetheless, the pair has gained by […]

GOLD has been developing within a symmetrical triangle over the past two years as it failed to post a higher top from 1375 on June 2016. The price failed to extend its gains above the aforementioned level and has been creating a continuation pattern, indicating a breakdown as the previous tendency was a descending move. In case of […]

When the European market opens, some economic data will be released such as Private Loans y/y, M3 Money Supply y/y, Spanish Flash CPI y/y, and German Prelim CPI m/m. On the US dollar’s front, the US will not release any economic data. So amid the reports, EUR/USD will move with low to medium volatility during […]

Good morning, traders, we’ve finally come to this year’s very last Support and Resistance Level Report. Euro/Dollar has the closest levels of 1 1960 in resistance and 1 1930 in support. Price Channel Indicator Upper Line is among the 6 studies for R1, and R3 is a 2 year high with 5 confirmations. R2 counts […]