Technical Market Outlook: The GBP/USD bulls have managed to push the price towards the short-term supply zone located between the levels of 1.2747 – 1.2786. The price has made a new swing high at the level of 1.2811, but this high was made on the Pin Bar candlestick pattern. The price was rejected from the […]

USD/CAD rallies as the USDX has managed to rebound in the current session. The pair is trading at 1.3477, far above the 1.3315 yesterday’s low. A USDX’s further increase will force the currency quote to climb way higher in the weeks to come. As you already know, the Federal Reserve maintained the Federal Funds Rate […]

Trend analysis (Fig. 1). Today, a downward pullback is possible from the level of 1.2748 (closing of yesterday’s candle) with the target of 1.2640 – a 23.6% retracement level (red dotted line). In case of breaking this level downward, the downward movement will continue with the next target of 1.2532 – a 38.2% retracement level […]

Trend analysis (Fig. 1). Today, an upward pullback is possible from the level of 1.1376 (closing of yesterday’s candle) with the target of 1.1308 – a 14.6% retracement level (red dashed line). There is a possibility that from this level the price may continue to move downward with the next target of 1.1238 – a […]

WTI crude oil futures is continuing a seven-week rebound but with slower momentum over the last couple of days, reaching a fresh three-month peak near 40.60. The short-term bias looks overbought as the RSI pulled back from the 70 level and is heading south, while the MACD is flattening above its trigger and zero lines. […]

On the 4-hour chart, we can see that the double top pattern. It means that oil may test the neckline at the 37.07 level. If this level is broken out, the oil will decline to the next level at 35.50 as its first target and the 34.27 level as its second target. As long as […]

The Federal Reserve intends to use the full range of tools to support the US economy during this difficult time, thereby contributing to reach the goals of maximum employment and price stability. The coronavirus outbreak causes tremendous human and economic difficulties in the United States and around the world. The virus and measures taken to […]

The Federal Reserve, as expected, left the refinancing rate unchanged. In addition, there was no talk of any additional quantitative easing. The US central bank will closely monitor the development of events, and make further decisions based on what effect the already taken stimulus measures will have. However, Jerome Powell said interest rates were not […]

On Wednesday, all market attention was focused on Fed’s final decision on monetary policy and its economic forecasts for the second half of the year and the next three years, which left a corresponding mark on the dynamics of world markets in general and the currency market in particular. Investors believed that the regulator would […]

Forecast for June 11: Analytical review of currency pairs on the scale of H1: The key levels for the euro / dollar pair on the H1 scale are: 1.1533, 1.1488, 1.1457, 1.1408, 1.1334, 1.1299 and 1.1238. Here, we are following the local rising structure of June 9th. The continuation of the upward movement is expected […]

EUR/GBP needed another stab to test solid support at 0.8866. However, the following break above minor resistance at 0.8939 indicates that the correction in wave ii is complete and a new impulsive rally towards 0.9485 can be expected. Short-term, we should see support near 0.8883 be able to protect the downside for a break above […]

GBP/JPY broke below the 38.2% corrective target at 136.34. This indicates a continuation of a drop lower to the 50% corrective target at 135.26 and, of course, a shift in the corrective shape too. A triangle consolidation is still possible, but, this time, we cannot say what shape this red wave iv correction may take. […]

To open long positions on GBP/USD, you need: Following yesterday’s decision by the Federal Reserve on interest rates, as well as US inflation data, the bulls tried to continue their upward trend by forming a good signal to buy the pound, which, unfortunately, did not translate into a new bullish trend. If you look at […]

To open long positions on EUR/USD, you need: Yesterday’s news on inflation in the US, which fell more than many expected, as well as the Federal Reserve’s decision to leave interest rates unchanged and only slightly adjust the bond purchase program, did not allow euro buyers to continue the upward trend that we have seen […]

Trading Recommendation Entry: 1723.66 Reason for Entry: 23.6% fibonacci retracement and Horizontal pullback support Take Profit: 1697.07 Reason for Take Profit: horizontal overlap support, 61.8% fibonacci retracement Stop Loss: 1755.79 Reason for Take Profit: 78.6% fibonacci extension, horizontal swing high resistance The material has been provided by InstaForex Company – www.instaforex.com Related Posts:EUR/USD break below […]

Trading Recommendation Entry:1.3339 Reason for Entry: 61.8% fibonacci extension Take Profit :1.3564 Reason for Take Profit: Horizontal swing high Stop Loss: 1.3205 Reason for Stop loss: 100% fibonacci extension The material has been provided by InstaForex Company – www.instaforex.com Related Posts:EUR/USD analysis for June 10, 2020 -FOMC meeting in… June 10, 2020 Corona virus summary: […]

Trading Recommendation Entry: 1.13549 Reason for Entry: Horizontal overlap support and 38.2% fibonacci retracement Take Profit: 1.11983 Reason for Take Profit: 38.2% retracement and horizontal swing low support Stop Loss: 1.14284 Reason for Take Profit: 100% fibonacci extension The material has been provided by InstaForex Company – www.instaforex.com Related Posts:XAU/USD facing bearish pressure from descending… […]

EUR/USD Yesterday, the Federal Reserve announced its forecasts for the economy: GDP at 6.5% for 2020, and 5.0% for 2021, inflation forecast for this year was 0.8%, and 1.6% for the future. The regulator expects an unemployment rate of 9.3% this year and 6.5% in the year 2021. The dollar index lost 0.32%, while the […]

GBP/USD The pound sterling overcame the Fibonacci level of 100.0% yesterday, but in case the price returns to this level with consolidation today, yesterday’s exit will be interpreted as false and will become its own and additional reversal factor. The immediate goal of going down to 1.2645 is the Fibonacci level of 110.0% on the […]

AUD/USD The Australian dollar slightly grew on Wednesday, staying within the range of Tuesday and between the levels of 0.6900-0.7080, which is already the seventh session. Leaving the price below the lower limit of the range opens the way to the first target of 0.6680 (September 12, 2019 high). The price has a little bit […]

USD/JPY The USD/JPY currency pair continues to fall intensively. The stock market even helped it yesterday: the S&P 500 -0.53%, Euro Stoxx 50 -0.81%. Today, Nikkei 225 is losing 1.24%, Chinese China A50 -0.67%. The price went below the MACD indicator line on the daily chart, entering a complex range limited by the embedded trend […]

GBP/USD 1H The pound/dollar continues to trade with an increase on June 11. Last night there were certain hopes that the pair would start a small correction, but buyers do not even want to take part of the profit so that the pair moves slightly away from their highs. Thus, firstly, quotes of the pair […]

EUR/USD 1H The EUR/USD pair resumed the upward movement on the hourly timeframe on June 10. Thus, the correction turned out to be extremely weak, and the bears showed that they were extremely few in the market, as well as their desire to buy the US dollar. Yesterday, during the publication of the results of […]

4-hour timeframe Technical details: Higher linear regression channel: direction – upward. Lower linear regression channel: direction – upward. Moving average (20; smoothed) – upward. CCI: 97.0632 The British pound continued to rise on the third trading day of the week. At the same time, there were no reasons or grounds for this process on Wednesday, […]

4-hour timeframe Technical details: Higher linear regression channel: direction – upward. Lower linear regression channel: direction – upward. Moving average (20; smoothed) – upward. CCI: 96.5416 The EUR/USD currency pair continues its upward movement, which is very difficult to justify fundamentally. In fact, there are so many events happening in America right now that any […]