Wave summary: EUR/NZD continues to push lower as it failed to break back above minor resistance at 1.6969 (the high was seen at 1.6942, which now acts the minor resistance to break). As long as minor resistance at 1.6942 is able to cap the upside as long will the downside pressure remain, with the possibility […]

Wave summary: EUR/JPY is trying to push prices lower, but it is a harder fight than expected. None the less, we continue to look for more downside pressure and a break below minor support at 132.81 that will call for a decline to 132.21 and lower to important support at 131.14. A break below this […]

Forex Market Reviews: http://thefxlounge.com/#Market-Review -US rates up +0.25, But a cautious outlook. -USDX unmoved. -Aussie $ at 1-month highs. -it’s central bank central today. -Japan data impresses to the upside. -PM Mays red face over Brexit. -US rates – What the market thinks re H1 2018. The overnight changes and price moves to be aware […]

Forex Market Reviews: http://thefxlounge.com/#Market-Review -US rates up +0.25, But a cautious outlook. -USDX unmoved. -Aussie $ at 1-month highs. -it’s central bank central today. -Japan data impresses to the upside. -PM Mays red face over Brexit. -US rates – What the market thinks re H1 2018. The overnight changes and price moves to be aware […]

The price continues to rise towards our major resistance area. We look to sell below 86.67 resistance (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) for a push down to at least 84.69 support (Fibonacci retracement, horizontal swing low support). Stochastic (55,3,1) is seeing major resistance below 98% and we expect a corresponding reaction off this […]

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Overview The USDJPY pair opens trading today with a bearish bias to test the key support of 113.00. Please note that this level represents the meeting point of the EMA50 with the intraday bullish channel’s support line besides 23.6% Fibonacci correction. It supports the strength of this level and hints that the chances are valid […]

Two days ago, the credit card company Visa said that Black Friday’s sales failed to boost British spending in November, while consumers paid less on Christmas traveling and on new vehicles, sending the inflation-adjusted Visa consumer spending index down by 0.9% y/y. Even if November’s decline was softer than October’s when the index tumbled by 2.1%, the […]

Overview The GBP/JPY pair has been trading in the same manner of extra mixed trading due to the several closes below 152.85 barrier. The bullish rally has been delayed until this moment. The contradiction between the main indicators forces the price to settle between the initial support at 150.00 and the mentioned barrier until the […]

Overview GOLD price has settled at the key support of $1,240.85 after attempting to break it yesterday. Please note that stochastic loses its bullish momentum clearly to approach the overbought areas while the EMA50 keeps pushing the price down. Therefore, these factors encourage us to confirm the outlook for the bearish trend in the upcoming […]

Monetary policy meetings by the European Central Bank and the Bank of England this week have had their limelight stolen by the US Federal Reserve, which is expected to move on rates while no action is anticipated from the ECB and the BoE. Both central banks took historic decisions at their last respective meetings, with […]

China will see the release of figures on November fixed asset investment, industrial production and retail sales on Thursday at 0200 GMT. The data are not just important for the world’s second largest economy, but also Australia, which has China as its major exports destination. The annual pace of growth for fixed asset investment in […]

Overview Silver price keeps crawling downward to approach our main target at 15.49. As long as the price is below 16.56, our bearish overview will remain vaild. Let me remind you that breaking 15.49 will enable the price to suffer more losses. The price is likely to reach 13.75 as the next target level. The […]

It’s 3 PM GMT on this Wednesday, so let’s look back at what’s been moving and shaking in the currency markets. As usual, we start with the mover of the day, which is New Zealand/Dollar. The pair jumped after 12 o’clock, gaining a total of point 8%. The Antipodes have held the ground they gained […]

2017 has been an interesting year for the financial markets. Stocks in the developed countries have broken records, currencies that lagged in the previous year jumped, and Commodities are in recovery mode. All this has happened while volatility has remained at a record low. In this article, I will look at some of the best […]

Before the last meeting of the FOMC in 2017, everything indicates a third this year rate hike by 25 bps, from 1.25% to 1.50%. The two-day meeting of the Federal Open Market Committee (FOMC) ends on Wednesday 13 December with the publication of the decision on interest rates at 07:00 pm GMT. Together with the […]

BTCUSD is extending its gains with an aggressive bullish move and is creating the third straight green month. The price has soared more than 173% since October and every single month is printing a new all-time high. On the medium-term timeframe, the BITCOIN is currently trading lower and the technical indicators seem to be in confusion. The […]

ETHUSD is has been edging sharply higher since October and added 98% to its performance. Ether launched in 2015 and surged more than 8,000% since the start of 2017. During this month, the price recorded another all-time high at $687.41 but lost some momentum and is currently developing near the $646.10 price level, and especially over the last three trading days the […]

BITCOIN prices briefly touched the $17,428 level on Tuesday, marking yet another fresh all-time high for the cryptocurrency, following the launch of the first bitcoin futures contract on the Chicago Board options Exchange (CBOE) this week. The launch was widely seen as a major step towards making Bitcoin – and cryptocurrencies in general – more […]

EUR/USD: The bearish signal on this pair is still valid. Price has made some bearish effort this week, now below the resistance line at 1.1750 and going towards the support lines at 1.1700. That is the target for this week, which should be reached ultimately. USD/CHF: The USD/CHF pair is consolidating in the context of […]

GOLD PRICES rallied $10 per ounce from yesterday’s fresh 5-month lows against the Dollar in Asian trade Wednesday, only to lose half that bounce in London as traders looked to today’s key US monetary policy decision from the Federal Reserve.   With US inflation data due later on Wednesday, just before the US Fed’s widely-expected […]

The morning session is over on this Wednesday, and it’s time for the Midday Snapshot. So far, Euro/Dollar has had another calm day, as there’s little volatility to speak of and the rate was little changed after 12 hours of trading. This pair sees 38% less funding than usual, and the sentiment is neutral at […]

Here are the latest developments in global markets: Forex: The dollar remained flat near intraday lows, last trading around 113.30 versus the Yen (-0.21%), as the Democrats Senate win in Alabama weakened Republicans’ majority, threatening the Trump administration’s future economic agenda. The Pound climbed higher towards 1.3350 (+0.23%) after the UK employment data showed that in […]

BITCOIN (BTC) has been trading sideways at the price of $16,960. During the first week of December, the second largest bank in the U.S., Bank of America (BOA), was awarded a cryptocurrency exchange patent. The BOA cryptocurrency trading platform’s concept summary outlines three types of accounts where users and businesses can swap digital assets instantly. […]

Thursday is absolutely packed with high-impact news releases, so let’s find out more. Among other things, it’s the Preliminary December PMI day, with French data up first at 8 AM. Both the manufacturing and services PMIs grew more than anticipated in November and now show a very strong and sustained expansion. Swiss Producer Price Index […]