GOLD price made a new high yesterday but prices soon after pulled back inside near the lows of the day just above $1,262. The trend remains bullish but maybe it is time for a pull back. Our short-term minimum target has been achieved. For gold to break above $1,300 we will need a pull back […]

The Dukascopy TV team brings you another Support and Resistance Level Report. Here’s how our in-house model tests out. We start with trader’s favourite pair, the Euro/Dollar, which has R1 of 1 1850 and S1 of 1 1810. R1 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band, a 2 year high […]

Our target which we predicted yesterday has been hit. The pair has rebounded from 109.90 and expected to continue its rebound. The outlook to the pair is positive above a rising trend line. The rising 20-period and 50-period moving averages are playing support roles and maintain the upside bias. The relative strength index stands firmly […]

Global macro overview for 02/08/2017: According to yesterday’s GDP report, the Eurozone economy continued to expand at a robust pace in the second quarter. The Preliminary GDP reading for the Q2 was released in line with the expectations at the level of 0.6%. At the same time, this reading was better than the last quarter […]

GBP/JPY is expected to trade in higher range. The outlook for this pair is positive above a rising trend line, which emerged on July 28. The rising 20-period and 50-period moving averages are playing support roles and maintain the upside bias. The relative strength index stands firmly above its neutrality level at 50 and lacks […]

Trading plan for 02/08/2017: The EUR/USD continues the rally and is approaching the resistance at 1.1850. The weakest currency is NZD (-0.48%) after surprising data release from the New Zealand labor market. The JPY (-0.35%) and CAD (-0.25%) are also under the line.The API report pointed to 1.8 million barrels of Crude Oil inventories, resulting […]

Technical outlook: Starting today we bring in front, a potential resumption of the long term trend for EUR/USD that is still bearish. For this purpose we begin understanding the waves on a larger time frame at a higher degree, weekly chart here and gradually as the story unfolds, we shall discuss lower timeframes on a […]

Wave summary: EUR/NZD is rallying nicely and has now cleared minor resistance at 1.5897, too. This confirms continuation higher towards 1.6236 as the next upside target. However, longer term, we expected EUR/NZD to move way past the 1.6236 target, too. Support is now seen at 1.5880 and again at 1.5829. The later should be able […]

Wave summary: EUR/JPY has finally cleared resistance at 130.77 and is now headed higher towards the 133.34 target. The former resistance at 130.77 will now act as support for the rally higher. If the 133.34 target is broken the next upside target to look for, will be seen at 134.04 and then 135.03, but be […]

In Asia, Japan will release the Consumer Confidence and Monetary Base y/y data, and the US will release some Economic Data, such as Crude Oil Inventories and ADP Non-Farm Employment Change. So, there is a probability the USD/JPY will move with medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 111.05. Resistance. 2: 110.84. […]

When the European market opens, some Economic Data will be released, such as German 10-y Bond Auction, PPI m/m, and Spanish Unemployment Change. The US will release the Economic Data, too, such as Crude Oil Inventories and ADP Non-Farm Employment Change, so, amid the reports, EUR/USD will move in a medium volatility during this day. […]

The price is testing major resistance at 1.1846 (multiple Fibonacci extensions, horizontal swing high resistance) and we expect to see an intermediate correction for a drop towards 1.1764 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is reacting nicely off its resistance and we expect a further drop from here. Sell below 1.1846. Stop loss […]

The price has broken our ascending support-turned-resistance line triggering a bearish move from here. We look to sell below major resistance at 0.7996 (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a push down all the way to 0.7875 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support). RSI (34) sees our ascending support-turned-resistance line […]

The price has broken a major ascending support-turned-resistance line and we expect a strong drop from here. We prepare to sell below strong resistance at 0.7491 (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a push down all the way to 0.7405 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support). RSI (34) is starting […]

The price has dropped perfectly and reached our profit target for the 4th time in a row. We prepare to buy above major support at 129.96 (Fibonacci retracement, horizontal overlap support, bullish price action) for a push up to at least 130.78 resistance (Fibonacci extension, horizontal swing high resistance). RSI (34) sees long term ascending […]

The price has dropped perfectly from our selling area and has reached our profit target. We prepare to buy above major support at 87.71 (Fibonacci extension, horizontal swing low support, Fibonacci retracement) for a push up to at least 88.34 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing major support above 2.3% where […]

We remain bullish looking to buy on dips above 109.80 support (Fibonacci extension, Fibonacci retracement, bullish divergence) for a push up to at least 111.59 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (34) sees bullish divergence signaling that a bounce is impending. The previous occurrence of such a bullish divergence led to a huge bullish […]

Overview: The USD/CHF pair has broken resistance which turned to a strong support at the level of 0.9579 this week. The price of 0.9579 coincides with 38.2% of Fibonacci, which is expected to act as a major support on the second of August 2017. Since the trend is above the 38.2% Fibonacci level, the market […]

Encouraged by the intentions of Saudi Arabia to reduce exports, the decline in US stocks and production, and the weak US dollar, Oil managed to close July in positive territory. This is the first month this year that prices remained in the green zone, which indicates a change in the perspective of investors. They start […]

Overview: The kiwi has already tested the area of 0.7409 – 0.7444. The NZD/USD pair will probably continue to move upwards from the level of 0.7409. However, the first resistance level is seen at 0.7557 followed by 0.7600, while the daily support 1 is seen at 0.7444 (61.8% Fibonacci retracement). According to the previous events, […]

USDX remains supported by the 92.80 level and it’s now forming a lower low pattern. The bearish structure remains solid below the 200 SMA and that’s why we’re expecting that a lower continuation takes place towards the support zone of 92.29. If the index manages to break above 93.49, then it can rally to test […]

GBP/USD has been consolidating gains in the short-term and the 200 SMA is still providing dynamic support in the short-term. To the upside, we can find a resistance around 1.3257, where bulls could gather momentum in order to reach the resistance area of 1.3364. Overall, the bullish structure remains strong and is still the preferred […]

GBP/USD is currently in an indecisive phase after an impulsive bullish breakout above the 1.3120 resistance level recently. The trend structure is quite non-volatile which is signaling about further bullish pressure in this pair. Recently GBP has shown an increase in Manufacturing PMI report at 55.1 from the previous value of 54.2 which was expected […]

Daily Outlook The NZD/USD pair has been trending up within the depicted bullish channel since January 2016. In November 2016, early signs of bullish weakness were expressed on the chart when the pair failed to record a new high above 0.7400. A bearish breakout of the lower limit of the channel took place in December […]

Monthly Outlook In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target is 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. […]