This week, the AUD/JPY pair has added to the bullish gains it started on Thursday last week. The pair has added 1.3 points. The bullish moves by the Australian dollar came after several bullish calls by top banks. On Friday, analysts at ANZ released a note calling AUD ‘grossly undervalued’. The same sentiments were issued […]

GOLD price remains in a bearish trend but yesterday we observed the bullish divergence in the RSI together with a candlestick reversal pattern. Price has the potential to rise to $1,260 today. Red lines – bearish channel Black lines – bullish divergence Gold price has broken out of the bearish channel and is now back […]

EURJPY has been in a neutral phase for the past three months as the pair has been trading sideways in the 131-134 area when the uptrend from April to September lost steam. Looking at the 4-hour chart, EURJPY is capped at the 50-period moving average at 133.33. Support is in the zone between the key […]

Burning Forecast 13/12/2017 EURUSD: Play to break the boundaries of the range. Today at 18.00 London time, an important decision by the US Federal Reserve will be announced: they will raise the rate on the dollar +0.25% to 1.375% – and, more importantly, will report on plans for further rate hikes. In addition, the Fed […]

Wave summary: EUR/NZD moved lower to 1.6922 and even broke through this support too. It could be a case of undershooting its target. If this is the case, then a break back above minor resistance at 1.6969 and more importantly a break above resistance at 1.7057 should be seen soon. A failure to break back […]

The Federal Open Market Commission (FOMC) started its final meeting yesterday. Today, they will release the final interest rate decision. Traders and analysts expect the fed to raise rates from the current 1.25% to 1.50%. So, a rate hike – which is already expected – will not be major breaking news. To her credit, under […]

It’s the day of the Fed statement, and it’s a very good idea to make sure your broker is not overcharging you. Euro/Dollar’s long-term average spread stands at point 28 pips, peaking at 1.9 pips. The pair went down yesterday, losing point 59% or 69 pips, but it’s since rebounded from its lowest point at […]

The Federal Open Market Committee is widely expected to raise interest rates for the third time this year and for the fifth time since the end of 2015 on Wednesday. But what seems to matter the most to investors regarding the outcome of the meeting, is the update on the country’s economic outlook and the speed of the delivery of stimulus reduction […]

Wave summary: With the break below minor support at 133.41, more downside pressure towards 132.21 and lower to strong support at 131.14 is expected. Short-term, minor resistance at 133.40 is expected to cap the upside for a break below minor support at 133.00 triggering the next decline towards 132.21 and below. R3: 133.90 R2: 133.75 […]

We will retain our yesterday’s outlook of USD/CHF. The pair recorded lower tops and lower bottoms, which confirmed a negative outlook. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index lacks upward momentum. To sum up, below 0.9925, expect a new drop with targets at 0.9875 […]

Here are the latest developments in global markets: Forex: The dollar was losing ground relative to majors after Republicans lost a Senate seat in Alabama, resulting in a narrower Senate majority for them. Still, there were no sharp movements amongst majors as European traders were starting their trading day, with markets awaiting fresh catalysts to […]

Our first target which we predicted in yesterday’s analysis has been hit. Despite the recent rebound, the pair is still capped by a declining 50-period moving average. The relative strength is below its neutrality level at 50. The upward potential is likely to be limited by the resistance at 151.75. To conclude, as long as […]

Let’s see how the interbank compares with the technicals at 8 AM GMT. These are the Main Daily Trading Signals for Wednesday. Euro/Dollar sees 5 neutral models in the short-term. The mid and long-term charts turn bearish with 6 and 5 studies, respectively, but the interbank is neutral at less than 9% long, and it […]

Our first target which we predicted in yesterday’s analysis has been hit. NZD/USD is still expected to trade with bullish bias above 0.6920. Although the pair posted a pullback, a support base at 0.6920 has formed and has allowed for a temporary stabilization. The rising 50-period moving average is playing a support role. The relative […]

When the European market opens, some Economic Data will be released, such as Industrial Production m/m, Employment Change q/q, Italian Industrial Production m/m, German WPI m/m, and German Final CPI m/m. The US will release the Economic Data, too, such as Federal Funds Rate, Crude Oil Inventories, Core CPI m/m, and CPI m/m, so, amid […]

Morning Report: 07.00 London Markets remain wary before today’s historic Fed meeting where rates are expected to increase 1.5%. This caution comes despite the DOW Jones hitting record highs last night. The dollar is down slightly but generally unmoved. The New Zealand dollar continues as the top performer and is now set to rally for […]

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 1760 and S1 of 1 1730. Standing at a 100 day moving average, R2 sees 9 confirmations, and R1 is a 50 day moving average with 7 […]

President Trump suffered a major setback as the once strictly Republican state of Alabama has, for the first time in 25 years, elected a Democrat to the US Senate. Democrat Doug Jones staged a stunning come-from-behind win against GOP Roy Moore in, what many believe, will trigger a political earthquake that will be felt nationally […]

AUDUSD is clearly in a downtrend since falling from the multi-year high of 0.8124 to the 0.7500 area. The crossover of the 50-day moving average below the 200-day MA highlights the bearish outlook. Immediate downside pressure has eased and the market has moved out of oversold conditions, as both the RSI and stochastics have risen […]

In Asia, Japan will release the Core Machinery Orders m/m data, and the US will release some Economic Data, such as Federal Funds Rate, Crude Oil Inventories, Core CPI m/m, and CPI m/m. So, there is a probability the USD/JPY will move with a medium to high volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. […]

BITCOIN has reached our selling area and is reacting off it nicely. We remain bearish looking to sell below 17459 resistance (Fibonacci extension, bearish price action, bearish divergence) for a drop towards at least 14739 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below 98% and also displays bearish divergence vs […]

The price has dropped strongly towards our profit target as expected. We prepare to buy above major support at 1.1712 (Fibonacci retracement, horizontal swing low support) for a bounce up to at least 1.1811 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,3,1) is approaching major support at 1.6% where a corresponding bounce is expected. Buy […]

USD/CAD has been quite corrective this week having no directional pressure while residing in a bullish trend inside a range of 1.2660 to 1.2900 area. Today is going to be very interesting and volatile for USD as the most anticipated Federal Funds Rate Hike report is going to be published which is expected to show […]

EUR/JPY is still residing inside the corrective range between 131.40 to 134.40 area where recently the price has been quite bullish from the middle of the range bouncing off the dynamic level. The correction in the pair does indicate the indecision in the market with the directional bias as of recent mixed economic reports of […]

The index keeps its bullish structure untouched below the resistance level of 94.00. That level should give up in order to allow more gains toward the 94.37 level. To the downside, the 200 SMA at H1 chart provides a dynamic support and it should help to give a boost to USDX when it’s being tested. […]