“If the economy continues to improve as expected, it is more likely that the next move in interest rates will be up, rather than down,” said the RBA Governor, Philip Lowe in his speech at the Australian Business Economists’ annual dinner two weeks ago. But then he immediately highlighted that in the near term, an adjustment […]

BITCOIN is currently residing above $11,300 price area after an impulsive bearish pressure that hit the cryptocurrency, forcing it to fall towards $9,000 price area recently. Bitcoin managed to form a V-pattern and quickly bounced off $9,000 price area with an impulsive gain after the drastic fall due to high volatility. Bitcoin is currently quite […]

BITCOIN (BTC) has been trading upwards. The price tested the level of $11,532. Regional media reported that Her Majesty’s Treasury (Treasury) of the United Kingdom (UK) is “launching a crackdown on the virtual currency Bitcoin amid growing concern it is being used to launder money and dodge tax.” Bitcoin enthusiasts, however, understand that the world’s […]

Weekly Technical Analysis of the Forex Markets – to guide your trading using technical indicators such as moving averages, RSI, Fibonacci, Ichimoku.

It’s 3 PM GMT this Monday. Let’s see what’s been moving and shaking in the Forex markets. Canada/Swiss Franc is the mover of the day, having gained point 56%. The pair was trending higher for most of the last 15 hours. Loonie dollar has had a bullish start of the week, and it’s up point […]

It’s 3 PM GMT this Monday. Let’s see what’s been moving and shaking in the Forex markets. Canada/Swiss Franc is the mover of the day, having gained point 56%. The pair was trending higher for most of the last 15 hours. Loonie dollar has had a bullish start of the week, and it’s up point […]

At the beginning of the new week, the dollar breathes a sigh of relief, because, after many days of anticipation and uncertainty, the US Senate has finally voted its draft tax reform. However, for President Trump to sign the bill before Christmas, there is still much to be done. First of all, delegates from both […]

Overview: The GBP/USD pair is still trading upwards above the levels of 1.3017 and 1.3200. The first support level is currently seen at 1.3017. The trend is still set above the level of 1.3017 and 1.3200 for that the price is moving in a bullish channel now. Furthermore, the price has been set above the […]

GOLD PRICES dipped Monday morning as the US Dollar gained following the Senate’s approval of Donald Trump’s tax cuts and Western stock markets rose, writes Steffen Grosshauser at BullionVault.   The US Dollar briefly touched a 2-week high after the Senate narrowly approved the Republican Party’s tax overhaul on Saturday, including plans to slash the […]

Overview: Last week, the EUR/USD pair broke resistance which turned to strong support at the level of 1.1908. However, the major support is seen at the price of 1.1870. The level of 1.1870 coincides with the ratio of 78.6% of Fibonacci, which is expected to act as major support today. The Relative Strength Index (RSI) […]

Recently, the EUR/USD has been trading downwards. The price tested the level of 1.1836. According to the 1H time – frame, I found rejection from that support level at the price of 1.1850. I also found a hidden bullish divergence on the stochastic oscillator, which is a sign that selling looks risky. My advice is […]

Last week was the week of records. BITCOIN broke the $10,000 ceiling, the U.S stock markets continued to break records, OPEC reached an agreement to continue the production cuts, and the U.S senate passed the tax reform package. While economic data continued to dominate the market, politics had the final say. On Friday, former National […]

Here are the latest developments in global markets: Forex: Sterling rallied above 1.35 against the dollar and touched a fresh one-month high versus the Euro after EU parliamentary members of the Brexit group said there was a “very good chance” of a deal and that May’s meeting with the President of the European Commission could resolve […]

Daily Outlook A recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as depicted on the chart. This resulted in a quick bullish advance towards next price zones around 0.7150-0.7230 (Key-Zone) and 0.7310-0.7380 which was temporarily breached to the upside. Recent bearish pullback was executed […]

The Indian finance minister, Arun Jaitley, stressed that the Government of India had not yet recognized BITCOIN as a legal tender. He pointed out that work is underway on recommendations regarding the possible legalization of Bitcoin and other virtual currencies. In an interview with the Economic Times, Jaitley said he had already informed the Indian […]

We’re halfway through this week’s first trading day, and it’s time for the Midday Snapshot. Euro/Dollar was back at the opening level after walking in the total range of 43 pips. Traded volume is less than half of the monthly average, and the neutral trader’s sentiment stands almost at a balance. The limited volatility and […]

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Tuesday is the Services PMI day. Let’s take a closer look. The final reading of Euro Zone November Services PMI is up first at 9 AM. The preliminary estimate puts the Index at a 7-month high. UK Services PMI for November follows half an hour later. The October data surprised strongly on the upside as […]

So the perfect ‘asset’ for this bubble in everything… BITCOIN blew by another milestone, writes Bill Bonner in his Diary of a Rogue Economist. Last week, the world’s first cryptocurrency hit a new record above $10,000. It started off the year trading at just $997. “I can’t believe what happened,” said a friend. “I bought […]

In Asia, the Japanese Nikkei 225 and Topix Indices both finished the day lower by 0.5%. Hong Kong’s Hang Seng rose by 0.2%, while the Shanghai Composite retreated by the same proportion. Australia’s S&P/ASX 200 slid by 0.1%. It is interesting that Asian equities didn’t benefit from upbeat sentiment following the passage of the much-talked tax […]

Monthly Outlook In January 2015, the EUR/USD pair moved below the major demand levels near 1.2050-1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450. In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997. […]

The US Dollar gains on Monday supported by the adoption of the tax law by the US Senate. Nevertheless, the market is cautious. The Pound remains strong with hopes for progress in Brexit negation. On the stock market, it was red after the Friday’s weak closing on Wall Street. Crude Oil is growing in the […]

Start your trading week by keeping your broker accountable and compare their price feed with the Main Spike Controller. Euro/Dollar’s average and peak spreads stand at point 37 and 1.1 pips, respectively. The pair has been moving in waves, but its daily volatility of 43 pips was posted during a gain of point 36%. Trading […]

The Dollar index held above its recent lows and made a higher low on Friday. Although last week’s close was not perfect for bulls, it was not bad either. We start the week with Dollar strength and for bulls to continue to have control, price must break above 93.30 resistance. Black lines – bearish channel […]

The GOLD price has broken downwards. The price, as expected, got rejected below the $1,300 resistance area last week and is looking very bearish and ready to fall further towards our short-term $1,250 target. The Gold price bounced on Friday towards $1,285 as expected and is now re-testing recent lows. Blue lines – bullish channel […]