There is an ironic situation regarding the US currency: according to experts, the continuation of the COVID-19 pandemic is now beneficial for the USD. The more intense the infection spreads, the more investors run away to the dollar, raising its quotes. According to preliminary estimates, in the case of the second wave of the pandemic, […]

For the euro/dollar pair, the price forms a potential for a downward movement on June 10. The level of 1.1361 is the key support. For the pound/dollar pair, we are following the development of the downward structure of June 10. The level of 1.2505 is the key resistance. For the dollar/franc pair, the price is […]

US 30 Index (Cash) found some footing on the supportive trend line at the 25,230 level, that being the 61.8% Fibonacci retracement of the down leg from the all-time high of 29,582.61 to the 40½-month low of 18,170. Negative pressures have risen, as the index has aggressive weakened in the last couple of days. Yet, […]

Worries of a second infection wave kill the euphoria in markets S&P 500 loses almost 6%, dollar and yen shine again, commodity currencies crumble But risk sentiment back on the mend Friday, with most moves retracing a little Just a mild correction or start of something bigger? Daily virus numbers will decide that Risk aversion […]

USDCAD flew straight to the 1.3600 territory and back above the 200-day simple moving average (SMA) on Thursday after stubbornly refusing to close below the 1.3400 level during the past few days. The strong rebound in the RSI, which jumped above its 30 oversold mark, and the improving MACD, provide encouragement that the pair could keep […]

USDCAD flew straight to the 1.3600 territory and back above the 200-day simple moving average (SMA) on Thursday after stubbornly refusing to close below the 1.3400 level during the past few days. The strong rebound in the RSI, which jumped above its 30 oversold mark, and the improving MACD, provide encouragement that the pair could keep […]

Gold is trading in the green again after a minor drop and after temporary indecision. It is trading at $1,732 level and it seems determined to climb higher in the short term. The price is located in the buyer’s territory, it has taken out a strong dynamic resistance signaling further growth. Gold is bullish and […]

Good afternoon traders! Congratulations to those who followed our trading idea yesterday, which was to open short positions to lower the quotes of the pair. Stop Hunting strategy was used to figure out the buyer’s stops in the daily chart. Plan: Results: Close half of the positions now while hold the rest to lower the […]

The corrective decline from the 139.74 is way different from what was expected if this corrective decline had been black wave iv/. The is no alternation between black wave ii/ and black wave iv/, which lead us to believe, that the corrective decline from 137.74 only is red wave ii and a much stronger rally […]

Trend analysis (Fig. 1). On Friday, the pair is likely to continue moving down from the level of 1.2603 (the closing price of yesterday’s candlestick) with the target at the retracement level of 1.2532 – 38.2% (the red dotted line). Most likely, the price will continue falling from this level with the target at 1.2445, […]

The correction in red wave iv has been much deeper than expected and has been much more straight forward (a zig-zag correction), than expected. This likely means, that the peak at 124.43 only was red wave iii/ and not red wave v/ and the peak of black wave iii/. This means that more upside should […]

GBPJPY has come under renewed selling pressure over the past four days following the upside run towards the 15-week high of 139.80. The pair declined beneath the 100- and 200-day simple moving averages (SMAs) but found strong support at the 20-day SMA earlier today.   Looking to the short-term oscillators, the stochastic and the RSI promote slight improvements around […]

With the aim to help frontline workers exposed to the Covid-19 pandemic in their daily devoted work, XM donated a considerable amount of funds to the Bangkok-based Bhumibol Adulyadej Hospital on 22nd May. Since the outbreak of the pandemic, XM has taken initiatives to do its share of corporate social responsibility by donating funds to […]

With the aim to help frontline workers exposed to the Covid-19 pandemic in their daily devoted work, XM donated a considerable amount of funds to the Bangkok-based Bhumibol Adulyadej Hospital on 22nd May. Since the outbreak of the pandemic, XM has taken initiatives to do its share of corporate social responsibility by donating funds to […]

Technical Market Outlook: The GBP/USD has made a correction towards the level of technical support located at 1.2580, but this level was violated already. The move down is the biggest drop in the whole wave up, so we can label it as price overbalance. If the bears keep pushing, then the next target is seen […]

Technical Market Outlook: The EUR/USD pair has made a pull-back towards the level of 1.1276 and this the exact level of 1:1 correction. The market moves up slightly and the mid-term trend on EUR/USD remains up, but the main long-term trend is still down. The key short-term technical support is still seen at the level […]

Crypto Industry News: Japanese cryptographic company Freessets announced a new technology to increase the privacy of the Bitcoin wallet. According to the published announcement, Freessets has created a system that allows wallets to request Bitcoin balances of their addresses without disclosing those balances to servers from which they request balance or transaction history. The statement […]

Before the FOMC meeting on Wednesday, the news background was filled with rumors and speculation about the Fed’s next steps, but the regulator managed to surprise investors once again by offering almost nothing new. Prior to the meeting, the probability of introducing a control of the yield curve was regarded as high, but the Fed […]

Crypto Industry News: On June 9, police arrested a resident of Makhachkala in Russia, who allegedly created an illegal mass cryptocurrency mining structure that connected about 500 platforms to the local power grid. According to a statement from local authorities, a 30-year-old miner operated a mine that caused economic damage to the national power grid […]

To open long positions on GBP/USD, you need: Sellers of the pound did not postpone their goals, and successfully made their way below the support of 1.2620, which I mentioned in yesterday’s review and below which I advised opening short positions. If you look at the 5-minute chart, you will see how after the bull’s […]

To open long positions on EUR/USD, you need: Yesterday, I repeatedly paid attention to sales from the level of 1.1403, which the pair approached several times throughout the day. And if questions arise with opening short positions from this level at the European session, then this could not be in the afternoon. If you look […]

The bullish movement of the quotes yesterday was 300 pips, which indicates the strength of the buyers. Any fall of the pair should be considered as an opportunity to enter buy positions, since the probability of updating the weekly high is 75%, which makes long positions profitable. The most favorable levels for buy positions are […]

Trading Recommendation Entry: 0.68627 Reason for Entry: 23.6% fibonacci retracement, horizontal pullback resistance Take Profit: 0.66760 Reason for Take Profit: horizontal pullback support, 61.8% fibonacci retracement Stop Loss: 0.69393 Reason for Take Profit: 50% fibonacci retracement, horizontal pullback resistance, 78.6% fibonacci extension The material has been provided by InstaForex Company – www.instaforex.com Related Posts:EUR/USD analysis […]

EUR/USD The euro fell by 75 points on Thursday and further strengthened the reversal potential. Marlin divergence in action. The 1.1200 target will open after overcoming 1.1265, and even lower support for the embedded price channel line at around 1.1120. The price consolidated below the indicator lines of balance and MACD on the four-hour chart, […]

GBP/USD The British pound fell by 145 points yesterday, while it is losing another 45 points today in the Asian session, approaching the Fibonacci level of 123.6% (1.2540). Overcoming this level will extend the decline to the Fibonacci level of 138.2% at the price of 1.2424. The signal line of the Marlin oscillator is very […]