EUR/USD: The pair has gone upwards this week which has resulted in a bullish signal. Now it is above the support line at 1.1800, going towards the resistance line at 1.1850 (the first target), After that, another resistance line at 1.1900 would be targeted. Some fundamental figures are expected today and they may have an […]

Last minute burning forecast 26.10.2017 GBPUSD: the way to the top. On Wednesday, our assumptions were confirmed: the Pound chose the path to the top. The reason: the release of a strong data on the economy of Britain. The GDP grew at the level of +1.5% per annum, above the forecast of +1.4%. Inflation is […]

Trading plan for 26/10/2017: The currency market drifted during the Asian session, but a fall on Wall Street is sustained by the temporary weakness of the USD. EUR is slightly higher before the ECB interest rate decision. Nothing interesting happens on the Oil market, while GOLD uses the dollar’s weakness and extends the bounce. On […]

Thursday brings the latest ECB Monetary Policy Statement, and it definitely is worth a closer look. But first, there’s German GfK Consumer Confidence for November, which is out at 6 AM. The October Index inched slightly lower, having reached a record-high reading the previous month. So the closely watched ECB Monetary Policy Statement is released […]

AUD/USD has been impulsively bearish recently breaking below the support level of 0.7750. AUD has been quite negative with the economic reports recently which lead to a drastic fall of the currency against USD. Yesterday AUD CPI report was published with worse than expected value of 0.6% was expected to be at 0.8% which previously […]

Good morning, traders, the Dukascopy TV team is here with Thursday’s Support and Resistance Level Report. Euro/Dollar has seen a rise which leaves it below R1 of 1 1840 and above S1 of 1 18. R1 counts a 50 day moving average among its 7 studies. R2 is confirmed by Price Channel Indicator Upper Line […]

On Wednesday, the UK Office for National Statistics released Gross Domestic Product, that beat expectations, coming in with growth of 0.4% in Q3. Improving by 0.1% on the previous quarter of 0.3%, UK Chancellor Phillip Hammond commented that it showed a “resilient economy which is supporting a record number of people in employment”. The mainstay […]

USDJPY has been neutral during the past 7 months, with the market trading in a broad range between roughly 108 and 114 since mid-March. The recent rally off 108 to 114 has lost steam. Technical indicators are in bullish territory (RSI above 50 and MACD above zero) and suggest the market should be well supported […]

We would like to inform our clients that due to the end of Daylight Savings in Europe on Sunday, October 29th 2017, and in the United States of America on Sunday, November 5th 2017, the trading hours of various instruments will be affected between 29 October and 6 November 2017. The normal trading hours will […]

Wave summary: EUR/NZD continues to push higher and has now cleared the channel resistance-line, which also what one would expect during wave (iii). We continue to look for minor support at 1.7085 and more importantly for support at 1.6958 to protect the downside for the next rally higher towards the 1.7777 target. R3: 1.7454 R2: […]

Wave summary: EUR/JPY should continue to hold support at 133.72 for the next rally closer to the ideal wave (D) target at 137.37 from where wave (E) is expected to take over for a decline to 123.43. Short-term a break above minor resistance at 134.50 will push EUR/JPY closer to the ideal wave (D) target, […]

Forex Market Reviews: http://thefxlounge.com/#Market-Review -GBP upside momentum. -Commodity currencies weaker vs US$. -Shanghai composite at a new 22 month high. -More billionaires in Asia than the USA. -All eyes on the ECB meeting in Frankfurt. -Kenya returns to the polls – opposition to boycott. -South Korea is growing rapidly. -What Japanese Bond investors think. The […]

When the European market opens, some Economic Data will be released, such as Minimum Bid Rate, Italian 10-y Bond Auction, Private Loans y/y, M3 Money Supply y/y, Spanish Unemployment Rate, and German GfK Consumer Climate. The US will release the Economic Data, too, such as Natural Gas Storage, Pending Home Sales m/m, Prelim Wholesale Inventories […]

In Asia, Japan will release the SPPI y/y data, and the US will release some Economic Data, such as Natural Gas Storage, Pending Home Sales m/m, Prelim Wholesale Inventories m/m, Goods Trade Balance, and Unemployment Claims. So, there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL […]

The price has reached our selling area perfectly and continues to test that level. We remain bearish looking to sell on major resistance at 134.36 (Fibonacci extension, Elliott wave theory, horizontal swing high resistance) for a push down to at least 133.16 support (Fibonacci retracement, horizontal swing low support). Stochastic (34,3,1) is seeing major resistance […]

The price has shot up perfectly from our buying area and is fast approaching our profit target. We prepare to sell below major resistance at 1.1855 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) for a push down to at least 1.1747 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,3,1) is seeing major resistance at […]

Morning Report: 07.00 London This morning, the Australian dollar remains under pressure after suffering its heaviest selling in over a month. The AUD/JPY is off by 1.34% on the week, with the AUD/USD falling to its lowest since July and the GBP/AUD slumping to its lowest level since June. The NZD/USD has followed the Aussie […]

It’s 3 PM GMT on this Wednesday, so let’s recap what’s been moving and shaking on the FX Markets. Sterling/Australia is the mover of the day with a solid gain of 1.78% as the pair shot up in a couple of waves. Preliminary UK GDP showed stronger than expected economic growth in the third quarter, […]

The British Pound was a notable gainer during today’s trading as Forex market participants revised upwards their expectations for a quarter percentage point interest rate rise to be delivered by the Bank of England after UK third quarter growth beat expectations. The dollar was gaining ground relative to the Loonie, aussie and the kiwi and […]

The US 30 stock index reached another all-time high of 23485.10 yesterday as the index extended its second longest bull run in its history. Prices broke above the 23000 level for the first time on October 17 and are trading above their moving averages. The bullish picture in the medium term is further supported by […]

Recently, the EUR/CHF has been upwards. The price tested the level of 1.1698. Anyway, according to the 15M time – frame, I found triangle formation in creation, which is a sign that buying looks risky. I also found a fake breakout of pivot resistance 1, which is another sign of weakness. My advice is to […]

The renewal of the October low will increase the risks of continuing the southern campaign of XAU / USD pair. The “bears” are inspired for XAU / USD for new attacks because of the victory of Shinzo Abe’s party in the parliamentary elections in Japan, the departure into the shadows of the North Korean issue, […]

Global macro overview for 25/10/2017: The Bank of Canada Overnight Rate decision will be published today. The market participants expect BoC to keep the overnight rate a 1.0%. With the decision, a Monetary Policy Report will be published with an update of economic forecasts. The BoC press conference is scheduled at 03:15 pm GMT.After two […]

Global macro overview for 25/10/2017: Australia’s September quarter consumer price inflation (CPI) report has come in well below expectations. The market participants expected an increase from 0.2% to 0.8%, but according to the Australian Bureau of Statistics (ABS), headline CPI rose by 0.6% over the September quarter. On a yearly basis, the CPI decreased from […]

Chart patterns play an important role in the life of a trader. Regardless of your trading style or level of experience, charts will help you identify and execute profitable trades. Below, we look at five popular chart patterns you can leverage in your trades. Remember: all chart patterns are a way of viewing a series […]