The Sterling was weak and unstable during Monday’s trading session as investors mulled over last week’s shocking UK election outcome which dished out a nightmare “hung parliament” surprise. With Theresa May’s gamble to strengthen her hand ahead of the Brexit negotiations brutally back firing and sparking chaos in Westminster, the British Pound remains vulnerable to […]

Overview: The NZD/USD pair is showing signs of force following a breakout of the top at 0.7122. 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 […]

Global macro overview for 13/06/2017: Bank of Canada Senior Deputy Governor Carolyn Wilkins said on Monday that the BoC might discuss whether monetary policy stimulus was still required. According to Wilkins, due to the fact that the economy showed impressive growth, if only a few sectors expand enough to absorb excess capacity, the BoC would […]

Find out how the interbank compares with the technicals at 8 AM GMT. These are the Main Daily Trading Signals. Euro/Dollar has neutral models prevailing in all three time ranges, with 4 in both the short and mid-term and 5 in the long-term, but, in contrast, the interbank actually is bullish at more than 25% […]

Trading plan for 13/06/2017: Overnight the US Dollar strengthened against the Pound sterling, Yen, and Euro. EUR/USD fell below 1.1200, GBP/USD is trading below 1.2650 and USD/JPY is struggling above 110.00. Commodity currencies are strong, especially NZD and Canadian Dollar. They continued appreciation after the surprising Monday’s hawkish statements from BoC official Wilkins. The sell-off […]

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

The long-awaited FOMC June meeting will be held on Wednesday June 14th, at 19:00 BST. Per CME’s FedWatch tool, the probability for a June rate hike has climbed to 99.6%. It indicates that markets regard a June rate hike almost certain to happen. Originally the markets assumed the Fed would raise rates twice more by […]

The Dollar index continues to point to a bounce towards 98.5-99 and I continue to favor the bullish side. I believe that only after a bounce towards 99 we should look to short the index again. Red line – short-term resistance The Dollar index is trying to break above and remain above the 4-hour Kumo […]

GOLD price got rejected off resistance yesterday and is now making new lows. I still expect Gold price to move towards $1,250-45 over the coming days before any upward reversal. I remain long-term bullish looking for $1,400-$1,500. Blue lines – bearish channel Gold price remains inside the bearish channel and has broken below the 4-hour […]

Good morning traders, you’re watching the Support and Resistance Level Report for Tuesday. Euro/Dollar is currently trading in the range limited by R1 of 1 1210 and S1 of 1 1180. Standing near a 20 day moving average, R1 is well confirmed with 11 studies. R2 is backed up by Price Channel Indicator Upper Line, […]

Wave summary: We continue to look for confirmation that the corrective decline from 1.6237 has completed. The first strong indication will be a break above the resistance line seen at 1.5636, while a break above resistance at 1.5720 will add confidence in wave iii/ developing towards 1.6655. R3: 1.5931 R2: 1.5720 R1: 1.5636 Pivot: 1.5600 […]

Wave summary: No change in view here. We are still looking for more upside in wave d closer to 134.62 before a final dip in wave e will be expected to complete the triangle consolidation and set the stage for the next rally higher to at least 134.58 and likely even closer to 138.52. Only […]

When the European market opens, some Economic Data will be released, such as ZEW Economic Sentiment, German ZEW Economic Sentiment, German WPI m/m, and French Final Non-Farm Payrolls q/q. The US will release the Economic Data, too, such as 30-y Bond Auction, Core PPI m/m, PPI m/m, and NFIB Small Business Index, so, amid the […]

In Asia, Japan will release the BSI Manufacturing Index data, and the US will release some Economic Data, such as 30-y Bond Auction, Core PPI m/m, PPI m/m, and NFIB Small Business Index. So, there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: […]

Daily Outlook In January 2017, the previous downtrend was reversed when a 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 to meet the EUR/USD pair is located between (1.1400-1.1520) where price action should be watched for possible bearish rejection. […]

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 breakdown of the lower limit of the channel took place in December […]

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The index found support around the 200 SMA at H1 chart as the greenback was under selling pressure in Monday’s session. If USDX manages to recover above the resistance zone of 97.41, then it can rally towards 97.75 in a first degree, but the downside continuation is still a high possibility. MACD indicator is turning […]

The pair increased its pressure to the downside and it’s looking to test the next critical area around 1.2547, as it managed to break last Friday’s lows. However, because of the sharp decline, GBP/USD can start to do some rebounds in order to reach the resistance level of 1.2753 in an attempt to erase some […]

EUR/JPY is currently correcting itself at the edge of breaking the support area of 123.30-50. A good amount of volatility has to strike the market since last week as the price is trying to break below the support area but failed several times to do so. Recently JPY has been quite stronger than EUR and […]

GBP has been weakening against USD since the general election effect on Friday. There has been a good amount of tension going as the things did not go as planned by May for the election and May is currently considered as the weak leader to negotiate with the Brexit Tension in the future. Today we […]

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The first trading day of the week is coming to an end, so let’s look back at what’s been moving and shaking in the Forex markets. Pound/Yen started moving lower after 6 o’clock in the morning, and it is the mover of the day with a drop of point 96%. Japanese producer price index continued […]

We prepare to sell on major resistance at 83.48 (Fibonacci retracement, Fibonacci extension) and expect a strong reaction from that level to drive price down to at least 82.80 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below the 91% level where we expect a further drop from. Correlation analysis: Overall […]

Price is holding really well above our buying area and forming a nice reversal pattern. We remain bullish looking to buy above major support at 1.2703 (Fibonacci extension, Fibonacci retracement, horizontal pullback support, bullish divergence) for a push up to at least 1.2886 resistance (Fibonacci retracement, horizontal pullback resistance). RSI (34) sees major support above […]