Wave summary: Our preferred count remains that a low likely was seen with the test of 1.5370 and wave iii/ higher is ready to develop. That said, we need a break above the resistance line near 1.5532 to confirm that wave ii/ has completed and wave iii/ higher to above 1.6237 is developing. Until the […]

Wave summary: EUR/JPY took out support at 122.53 for a dip to 122.37. This minor break below 122.53 was enough to change the corrective pattern unfolding from 125.82. Instead of a triangle consolidation, the corrective pattern has turned into a flat correction with wave B complete with the test of 122.37 and wave C higher […]

When the European market opens, some Economic Data will be released, such as ECOFIN Meetings, Final Core CPI y/y, Final Core CPI y/y, Final CPI y/y, and Italian Trade Balance. The US will release the Economic Data, too, such as Prelim UoM Inflation Expectations, Labor Market Conditions Index m/m, Prelim UoM Consumer Sentiment, Housing Starts, […]

In Asia, Japan will release the BOJ Press Conference, BOJ Policy Rate, and Monetary Policy Statement data, and the US will release some Economic Data, such as Prelim UoM Inflation Expectations, Labor Market Conditions Index m/m, Prelim UoM Consumer Sentiment, Housing Starts, and Building Permits. So, there is a probability the USD/JPY will move with […]

EUR/USD: There is a bearish signal on the EUR/USD. Price has gone further downwards and it is below the resistance line at 1.1200, now very close to the support line at 1.1150. The support line is expected to be breached to the downside as price goes towards another target at 1.1100. USD/CHF: There is a […]

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USDX posted strong gains during Thursday’s session, consolidating its price action above the 200 SMA at H1 chart. The next hurdle to test is located around 97.75, which is a key supply area for sellers. To the downside, we can find some solid supports at the 96.95 and 96.70 levels; the last one is possible […]

After having a volatile day due to the BOE’s rate decision, GBP/USD started to look for clues in order to strengthen the bearish bias that is being held since the UK elections’ results. The support zone of 1.2741 is still the line in the sand for sellers, where a breakout should open the doors to […]

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Overview The GBP/JPY pair held higher above the support at 138.75. However, the ongoing formation of a barrier by the moving average 55 at 141.70 might support sideways fluctuations in the near-term period. Therefore, we recommend monitoring the price behavior and wait for surpassing one of the mentioned levels to detect the true targets in […]

Overview The GOLD price bounced lower after retesting the previously broken bullish channel support, keeping the bearish trend scenario valid until now. The price is likely to test the critical support levels between 1,254.56 and 1,249.94 before attempting to rise again. It is important to note that a break of the mentioned levels will make […]

Overview The Silver price has been trading lower since morning, heading gradually towards our awaited target at 16.56 on the back of negative pressure formed by the EMA50. This keeps the bearish trend scenario valid for today. Besides, stochastic reaches the oversold areas now, supporting chances of a bullish bounce to resume the bullish trend […]

The price continues to drop strongly and seems to have turned a corner recently. We remain bullish above 1.3221 support (horizontal swing low support, horizontal overlap support, fake bearish breakout) for a corrective bounce up to 1.3387 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (55,5,3) is seeing strong support above 0.18% from where we’re starting […]

The price is now testing major support at 122.56 (Fibonacci extension, horizontal swing low support, bullish divergence) and we expect a strong bounce up from this level to reach at least 123.63 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is seeing strong support above 4.1% and also displays bullish divergence vs price, signalling […]

The Federal Reserve agreed on an interest rate hike on Wednesday, for the second time in three meetings, disregarding recent slumps in inflation and retail sales. The Fed hiked interest rates by a quarter point to 1.25% in a move that was widely expected by the financial markets. In doing so, the central bank also […]

The British Pound gathered momentum on Tuesday after government data showed bigger than expected gains in the consumer price index, CPI, adding to the view that inflation will continue to overshoot the official Bank of England (BOE) target for the foreseeable future. The CPI rose 2.9% in the 12 months through May, the highest in […]

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 market failed to record a new high above 0.7400. Bearish breakout of the lower limit of the channel took place in December […]

Daily Outlook In January 2017, the previous downtrend reversed when the Head and Shoulders pattern was established around 1.0500. Since then, evident bullish momentum has been expressed on the chart. The next daily supply level for the EUR/USD pair is located between 1.1400-1.1520 where price action should be watched for possible bearish rejection. Recent Update: […]

Recently, the GBP/USD has been trading downwards. The priced spiked up and tested the level of 1.2795. According to the 30M time frame, I found climatic action and testing of H3 (Camarilla resistance), which is a sign that buying looks risky. My advice is to watch for selling opportunities. The downward targets are set at […]

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Financial markets were caught off guard on Wednesday after the Federal Reserve dished out a hawkish surprise.Although the central bank remains optimistic over the health of the US economy, the soft domestic data illustrates a different picture.Much attention will be directed towards the pending BoE meeting which markets expect to conclude with rates left unchanged. […]

Overview: The NZD/USD pair continues to move upwards from the level of 0.7205. Currently price is seen at the level of 0.7205. As long as the trend is above this level, the market is still in an uptrend. In addition, the trend is still strong above the moving average (100). The NZD/USD pair didn’t make […]

Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1156. Acorrding to the 5M time frame, I found that sellers are are setting the tone for the trade today and that price broke L4 (Camarilla support), which is a sign that buying looks risky. My advice is to consider selling […]

EUR/USD: The EUR/USD pair is neutral in the long term and bearish in the short term. The EMA 11 has crossed the EMA 56 to the downside, and the Williams’ % Range period 20 is in the oversold region. This show a possibility of further short-selling in the market, which would ultimately put an end […]

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Professional Forex news analysis on all major currencies: (EUR/USD) (USD/JPY) (GBP/USD) (USD/CHF), (USD/CAD), (AUD…