Powell, coronavirus and the escalating political tensions reminded traders of the dollar’s status as a “safe-haven” asset. Thus, during the American session on Tuesday, the USD index reached a local peak of 97.172, up from its value yesterday morning which was 96.4-96.5 points. Further growth of the indicator, however, remains unclear, as during the Asian […]

NZDUSD is smoothly curving up along a short ascending trendline following the slight pullback from the 5 ½-month high of 0.6854 last week. According to the RSI and the MACD, the pair continues to seek new lows as the former has already topped above its 70 overbought mark and reversed lower, while the latter continues […]

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Gold prices have been consolidating over the last week, currently stuck in a sideways channel. Looking at the past three weeks, the yellow metal has been creating an inverse head and shoulder pattern with a significant neckline near 1,746. A successful climb above the neckline may change the recent bearish bias to bullish in the short-term. Resistance was met at around the 1,729 region, […]

USDJPY has settled at the Ichimoku cloud’s upper surface after pivoting from a produced low of 106.57 near the bottom band of the cloud. The recent surge was neutralised, returning the pair back below the simple moving averages (SMAs) and around the 107.25 mark. The horizontal 100- and 200-day SMAs and the flattened Ichimoku lines […]

Crypto Industry News: The S2F model, popularized by an anonymous analyst, predicts the price of bitcoin based on a shortage of digital coins. It is usually used to forecast the prices of goods such as gold and silver, whose decreasing supply determines the price. PlanB concluded that the S2F model can also be applied to […]

Crypto Industry News: The S2F model, popularized by an anonymous analyst, predicts the price of bitcoin based on a shortage of digital coins. It is usually used to forecast the prices of goods such as gold and silver, whose decreasing supply determines the price. PlanB concluded that the S2F model can also be applied to […]

Crypto Industry News: Bitcoin mining difficulty is an indicator of the ease with which miners can create new transaction blocks on the network. It increased by almost 15% yesterday. This jump represents the largest upward movement of this type since January 2018. The change occurred at block height of 635.040, and the network adjusted its […]

The Fed’s unexpected decision to expand measures to support the national economy before the threat of a wider and prolonged recession has blown optimism again into the sails of optimism of risky assets and highly profitable currencies. The Fed said it will begin to buy corporate debt under the previously announced incentive scheme by launching […]

Technical Market Outlook: The EUR/USD pair has rallied towards the 61% Fibonacci retracement of the previous wave down located at the level of 1.1342, but the bulls were rejected from this level and the market reversed towards the main channel line. If the rally will continue here, then the next target for bulls is seen […]

US stock indices showed an impressive growth again on Tuesday in response to a stronger-than-expected retail sales report in May. Growth amounted to 17.7% with a forecast of 8%, and the markets regarded this result as a direct indication that consumer spending will also grow at a higher rate, which means that a strong decline […]

US stock indices showed an impressive growth again on Tuesday in response to a stronger-than-expected retail sales report in May. Growth amounted to 17.7% with a forecast of 8%, and the markets regarded this result as a direct indication that consumer spending will also grow at a higher rate, which means that a strong decline […]

Technical Market Outlook: The GBP/USD price moved towards the 61% Fibonacci retracement located at the level of 1.2674, but bulls was not strong enough to break through it and the price reversed. The market conditions are now bouncing from the oversold levels, so the bulls might risk another wave up from the current levels towards […]

Technical Market Outlook: The GBP/USD price moved towards the 61% Fibonacci retracement located at the level of 1.2674, but bulls was not strong enough to break through it and the price reversed. The market conditions are now bouncing from the oversold levels, so the bulls might risk another wave up from the current levels towards […]

To open long positions on GBP/USD, you need: Yesterday, data on a sharp increase in US retail sales caused the British pound to fall, as there is still belief that British Prime Minister Boris Johnson will be able to find a compromise and reach a trade agreement with the EU. On the 5-minute chart, you […]

To open long positions on GBP/USD, you need: Yesterday, data on a sharp increase in US retail sales caused the British pound to fall, as there is still belief that British Prime Minister Boris Johnson will be able to find a compromise and reach a trade agreement with the EU. On the 5-minute chart, you […]

To open long positions on EUR/USD, you need: Yesterday’s data on a sharp increase in US retail sales provided significant support to the US dollar, which managed to strengthen its position against the European currency. However, Federal Reserve Chairman Jerome Powell’s speech to Congress limited demand for the dollar. Unfortunately, it was not possible to […]

After failing to reach Primary Move (LP-Lower Peak) and sell-side liquidity pool at 1.1218, Fiber might try to move to the 4-hour chart bearish order block at 1.1315. Before this pair re-tests again the 1.1218 level, from the technical point of view, we can see a convergence (hidden divergence) between the Stochastic and the Price […]

The minor correction from 136.35 seems to have been completed. We are looking for a break above minor resistance at 135.35 as confirmation for the next impulsive rally above the mini-peak at 136.35 for a continuation higher to 139.77 and to 148.32. Short-term support is seen at 134.14 with short-term support at 133.47. R3: 135.92 […]

The correction from 122.12 has been deeper than we expected. These mini-rallies followed by deep corrections are a series of one’s and two’s and once the series of wave three’s and four’s being, we should see a powerful rally through minor resistance at 121.14 and more importantly resistance at 122.12 for a continuation towards the […]

Trading Recommendation Entry: 79.498 Reason for Entry: 38.2% Fibonacci retracement, Moving average resistance Take Profit: 78.042 Reason for Take Profit: 38.2% Fibonacci extension, ascending trendline support Stop Loss: 80.000 Reason for Take Profit: 50.0% Fibonacci retracement The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Forex News: 16/06/2020 – Risk-on back in play […]

EUR/USD The euro fell 60 points on Tuesday due to fears of a second wave of coronavirus infection that erupted in China, now in the capital, Beijing. More significant was the reason for the increased demand for dollars during the placement of US debt – this week the US Treasury offers bonds for an incredible […]

GBP/USD So the pound’s attempt to overcome the Fibonacci level of 110.0% on the daily chart was suppressed yesterday. The price was pushed down near the Fibonacci level of 123.6%. The signal line of the Marlin oscillator is about to move into the bears’ possession and the target at the Fibonacci level of 138.2% at […]

GBP/USD So the pound’s attempt to overcome the Fibonacci level of 110.0% on the daily chart was suppressed yesterday. The price was pushed down near the Fibonacci level of 123.6%. The signal line of the Marlin oscillator is about to move into the bears’ possession and the target at the Fibonacci level of 138.2% at […]

AUD/USD Under the general strengthening of the American dollar, the Australian dollar fell by 29 points on Tuesday, breaking the target level of 0.6900. The Marlin oscillator on the daily timeframe is currently crossing the boundary of the territory of the bears. The price turned down from the MACD line and consolidated under the balance […]