Price has reacted strongly off our resistance area once again and is starting to drop nicely. We remain bearish looking to sell on strength below 0.9935 resistance (Multiple Fibonacci retracement, pullback resistance) for a strong push down to at least 0.9847 support (head and shoulders exit potential, swing low support, Fibonacci extension). Stochastic (21,3,1) is […]

Price has risen and is now testing major resistance at 0.6853 (Multiple Fibonacci retracement, overlap resistance, multiple Fibonacci extensions) and we expect to see a strong reaction off this level to push price down to at least 0.6781 support (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is seeing major resistance at 89% where we […]

USDX is trying to extend the recovery made from the support zone of 93.55 and it’s finding dynamic resistance in the 200 SMA at H1 chart. Such area is expected to provide offers in the index in order to resume the bearish path in the short-term. If the support mentioned above gives up, the next […]

GBP/USD has been following a bullish sequence that targets the resistance zone of 1.3309, at which we could expect some pullbacks to take place in order to correct the cycle started since November 13th session. With a breakout above 1.3309 the ground will be ready to reach the 1.3360 zone. MACD indicator remains in the […]

AUDUSD has fallen to its lowest level in five months and has turned increasingly bearish after breaking below its 200-day moving average. The slide from the 0.8124 peak is still in progress and shows no sign of reversing yet. The market has retraced over 61.8% of the rise from 0.7328 to 0.8124. The break below the key […]

Forex Market Reviews: http://thefxlounge.com/#Market-Review -Cable holds its gains -Mexican Peso testing toward EMA lines. -Another Australian Politician resigns. -Taiwanese & Hong Kong equities make decade highs. -UK Budget due today. – A Swiss banks forecasts for 2018/19. The overnight changes and price moves to be aware of by Pepperstone’s Market Analyst, Darren Sinden. New To […]

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The aussie overperformed its peers during the European session, posting a strong rebound after the RBA governor ruled out the possibility of expanding stimulus monetary policy. On the other hand, the Turkish lira hit a record low against the greenback after the Turkish president threatened to take control of the Central Bank of the Republic […]

The Euro is once again dogged by political risks as the collapse of the coalition talks in Germany has raised the prospect of months of uncertainty in the Eurozone’s biggest economy. The announcement on Monday of the collapse of the three-way coalition talks between Chancellor Angela Merkel’s party, the CDU/CSU, the pro-business Free Democratic Party […]

Overview The USD/JPY pair showed some rise yesterday to approach the key resistance 113.00, noticing that stochastic shows clear overbought signals now. Besides overlapping negatively on the four-hours time frame, which forms a negative motive that we are waiting to assist to push the price to break 111.90 level and open the way to extend […]

Overview The GBP/JPY pair confirmed the bullish trend by forming a new bullish wave to move away from the support at 147.35. The price gains momentum from the stability of the moving average 55 near the current support, which increases the possibility of renewing the bullish attack. The first upward target could be 150.00, then […]

Overview GOLD price begins the attempts to surpass 1,281.17 level now, encouraged by stochastic’s positivity that is displayed on the four-hour time frame. Please note that breaching the mentioned level will push the price towards 1,299.20 directly. In general, the bullish trend will remain active for today on condition of holding above 1,272.00. Breaching the […]

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Chairperson Janet Yellen announced yesterday that she would not stay on the Fed board after handing over to Jerome Powell. The decision to shorten the term of office (originally until 2024) was predictable – it was difficult to be number 2 if it was number 1. President Trump then holds another seat on the board […]

The Reserve Bank of Australia (RBZ) Monetary Policy Meeting Minutes were published overnight, but no major surprises were found out. However, the general tone of the minutes seems somewhat more subdued than investors have seen in recent reports. The RBA still expects the inflation to increase, but the pace is described as “only gradually”. This […]

Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1713. Anyway, according to the 15M time – frame, I found a fake breakout of yesterday’s low at the price of 1.1722, which is a sign that selling looks risky. I also found a hidden bullish divergence on the stochastic oscillator, […]

USD/JPY is expected to trade with a bullish outlook. The pair posted a rebound from 111.90 and broke above its 20-period and 50-period moving averages. In addition, a bullish cross between 20-period and 50-period moving average has been identified. The relative strength index is bullish, calling for a further upside. Hence, above 112.20, look for […]

GOLD BULLION held onto yesterday’s 1.1% plunge in Asian and London trade Tuesday, moving sideways as world stock markets rose with government bond prices despite the threat of fresh elections in Germany and the rapid escalation of political tensions between Nato military alliance members Turkey and the United States.   With Commodities holding firm overall, […]

GBP/JPY is expected to trade with bullish outlook. The pair formed an intraday “V-bottom” pattern, and now stands above its 50-period moving average, which is turning up. The relative strength index has broken above a falling trend line and calls for further advance. In addition, a strong support base at 148.40 has formed and has […]

NZD/USD is expected to trade with a bullish outlook above 0.6780. The pair stands firmly above its horizontal support at 0.6780, which has formed and has allowed for a temporary stabilization. The relative strength index is mixed, but lacks downward momentum. Therefore, even though a consolidation cannot be ruled out at the current stage, its […]

Overview: The USD/CHF faces a minor resistance at the level of 0.9910, while the strong resistance is seen at 0.9966. Support levels are found at the 0.9870 and 0.9782. Today, the USD/CHF pair continues to move downwards from 0.9910. The pair could fall from 0.9910 level to the first support around 0.9870. In consequence, if […]

Overview: The NZD/USD pair (Kiwi) has hit the new low at the level of 0.6779. Today, the NZD/USD pair probably will continue to move downwards from the level of 0.6800. Last week, the pair dropped from the level of 0.6800 to the bottom around 0.6779. Today, the first resistance level is seen at 0.6800 followed […]

The US 500 index has been rising over the last two days and currently trades not far below the all-time high of 2,596.50 recorded on November 7. The positive alignment with the Tenkan-sen line being above the Kijun-sen line is painting a bullish picture in the short-term. Notice though that both lines are flat at […]

WTI Oil futures have been rising steadily and closing above the 200-day moving averages since mid-September. The bullish technical picture was confirmed by the crossover of the 50-day MA above the 200-day MA but the rally lost steam at 57.89 and subsequently, the near-term trend has shifted to neutral. The market is now trapped between […]

GBP/USD has been quite volatile and corrective recently since the recent Rate Hike which put the market into an indecisive phase. GBP has been going through lots of ups and downs due to political unrest in the UK and some economic issues which has confused the market sentiment which resulted in indecision and corrections. Today, […]