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

Two more central banks are set to announce rate decisions this week following the FOMC announcement yesterday; they are the Bank of England (BoE) and the Bank of Japan (BoJ). UK retail sales and core retail sales figures for May will be released at 09:30 BST today followed by the Bank of England’s rate decision […]

Trading plan for 15/06/2017: After yesterday’s interest rate hike by the Fed, the US dollar is gaining across the board. EUR/USD is breaking below the intraday trendline at 1.1190, USD/CHF is trying to break out above 0.9730 resistance and USD/JPY is trading around the level of 109.50. During the overnight Asian session, the Indices closed […]

It was all about the US overnight. While the playbook was supposed to be “all quiet until the FOMC”, the fireworks began early with the release of much softer US CPI data.  The core rate of inflation increased at just 1.7 % on year, the fourth straight monthly deceleration and the slowest overall pace in […]

Global macro overview for 15/06/2017: The Federal Reserve Bank hiked the interest rate from 1.00% to 1.25% as it was priced in by markets. As it was a predictable move, it did not make a big impact on the market. The announcement also suggested that the FED would maintain a policy of reinvesting interest on […]

Despite the Dollar weakness all day long yesterday, after the FOMC the Dollar showed reversal signs. There are important bullish divergence signs that imply the Dollar should bounce strongly from current levels. Red line – resistance Blue line – support Short-term resistance is at 97.50. Support at 96.50-96.30. Despite the new lower low yesterday, prices […]

GOLD price reached the Ichimoku cloud resistance as expected at $1,280 and got rejected. This rejection implies that the entire corrective move is not over and we should expect to see Gold price fall below the $1,259 area and near $1,245-50. Gold price is below the Kumo in the 4hour chart. The rejection is a […]

USD has gained ground against CHF after the increase in the Federal Funds Rate in the FOMC Statement today. The Federal Funds Rate was increase to 1.25% from previous rate of 1.00% which did provide USD with a solid support against CHF. Today is very important day for both USD and CHF as the US […]

Wave summary: The corrective decline from 1.6237 extended lower to 1.5369, which did not come as a major surprise due to the lack of upside momentum. That said, the final decline to 1.5369 was followed by a clear lack of downside momentum indicating that the final corrective low likely have been seen. To confirm that […]

Wave summary: Important support at 122.53 should continue to protect the downside for a break above minor resistance seen at 123.64 for the expected rally higher to 124.62 to complete wave d of the triangle consolidation. Only an unexpected break below 122.53 will extend the decline from 125.82 lower to 121.63 in new corrective pattern. […]

AUD/USD is currently trading in a bullish bias after breaking above the resistance of 0.7550. Today, we have seen a good amount of exhaustion in this pair in light of two high impact economic events. Today, the US FOMC Statement was released after the Federal Funds Rate had been lifted to 1.25% from previous rate […]

In Asia, Japan today will not release any Economic Data, but the US will release some Economic Data, such as TIC Long-Term Purchases, Natural Gas Storage, NAHB Housing Market Index, Industrial Production m/m, Capacity Utilization Rate, Philly Fed Manufacturing Index, Import Prices m/m, Empire State Manufacturing Index, and Unemployment Claims. So, there is a probability […]

When the European market opens, some Economic Data will be released, such as French 10-y Bond Auction, Eurogroup Meetings, Spanish 10-y Bond Auction, Trade Balance, and French Final CPI m/m. The US will release the Economic Data, too, such as TIC Long-Term Purchases, Natural Gas Storage, NAHB Housing Market Index, Industrial Production m/m, Capacity Utilization […]

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The index crashed early in the Wednesday’s morning following bad data in the U.S. but in the afternoon, it managed to cut losses after the Fed decided to hike rates by 25 bps and now it’s retesting the 200 SMA at H1 chart. If we see a consolidation over there, then we can expect a […]

The pair had a very volatile day on Wednesday following Fed’s interest rate decision to hike the current benchmark by 25bps, but it didn’t gather enough bearish momentum to break below the support level of 1.2741, which is the last hurdle before 1.2660. However, we might expect a rebound towards 1.2826 in a first degree. […]

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The yesterday take profit target for GBP/JPY has been hit. After hitting the mark of 140.80 (today’s high), which was also our target moved downward, the pair went downwards. Therefore, the level played a resistance role. The pair is now expected to trade in a lower range below 140.60. The pair has clearly reversed downwards […]

The price has tested our buying level and has bounced perfectly from it. We remain bullish above 1.2633 (Fibonacci retracement, Fibonacci extension, horizontal pullback support, bullish divergence) and we expect a further rise above this level to at least 1.2886 resistance (Fibonacci retracement). The RSI (34) sees major support above the 26% level where we […]

The price continues to hold well below our descending resistance line. We remain bearish below the 110.66 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a further push down to at least the 108.23 support (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance below our 96% level and has good […]

The price has bounced up nicely from our buying level yesterday and is on track to reaching our profit target. We remain bullish above the 82.83 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a push up to at least the 83.40 resistance (Fibonacci extension, swing high resistance, Elliott wave theory). Stochastic (21,5,3) […]

Recently, the GBP/USD has been trading sideways at the price of 1.2735. The analysis from yesterday is still active. According to the 4H time frame, I found the bullish Wolfe Wave pattern and a potential double bottom formation, which is a sign that selling looks risky. My advice is to watch for potetnial buying opportunities. […]

Recently, the EUR/USD has been trading sideways at the price of 1.1203. They analysis from yesterday is still active. According to the H1 time frame, I found the bullish Wolfe Wave pattern and hidden bullish divergence on the moving average oscillator. My advice is to watch for potential buying opportunities. The upward targets are set […]

Overview: The USD/CHF pair has traded in a downwards from the level of 0.9733 since two days. The market seems stable for that there are no changes in our technical outlook. The bias remains bearish in the nearest term testing 0.9620 or lower. The bottom price is seen at 0.9620. The trend has rebounded from […]

Overview: As expected, the NZD/USD pair continues to move upwards from the level of 0.7205. Since the trend is above this level, the market is still in an uptrend. Furthermore, the trend is still strong above the moving average (100). The NZD/USD pair didn’t make any significant movements yesterday. Hence, the market is indicating a […]