Overview: On the one-hour chart, there is the USD/CHF pair bullish trend from the support levels of 0.6953 and 0.6985. Currently, the price is in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. As the price is still above the moving average (100), […]

The index is trying to recover from its recent losses and it’s testing now the resistance zone of 97.41. A breakout over there can open the doors for another rally towards the 98.11 area, which is slightly above the 200 SMA. To the downside, the support level of 96.90 continues to be a solid demand […]

The pair remains under a limited pressure amid latest headlines about the terrorist attack in Manchester last night, which left 19 died and several people injured. The support zone of 1.2960 is limiting the bearish’s advance for the short-term and one could expect a rebound to test the 1.3038 level. By the other hand, with […]

Here’s what’s moving and shaking on the currency markets at 3 PM GMT on Tuesday, 23rd of May. Australia/Yen had a slight correction after noon GMT, but the pair stands point 57% in the green, which is the day’s top move. Commodity currency trio is having a bullish day and Australian Dollar tops the table, […]

The price has reached our buying level perfectly. We remain bullish, looking to buy above 1.3503 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support, Elliott wave theory) for a push up to 1.3641 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (34) sees strong horizontal support above our 36% level. Buy above 1.3503. Set stop loss […]

GBP/USD has been in a bullish volatile trend since the break above 1.2800 level. A good amount of correction can be seen in this pair while it moves towards a higher level. However, the counter is expected due to negative economic reports from the United Kingdom. Today the Public Sector Net Borrowing report was published […]

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Wednesday brings a high importance release for the Loonie Dollar traders, so let’s find out more. Coming up first at 6 AM is German GfK Consumer Confidence for June. The May forecast grew by point 4 points as consumers are increasingly optimistic about the economic outlook and their own income prospects. Starting from 12:45 PM […]

Recently, GOLD has been trading upwards. As I expected, the price tested the level of $1,263.75. Anyway, according to the 30M time frame, I found a fake breakout of yesterday’s high at the price of $1,262.60, which is a sign that buying today seems risky. There is also a hidden bearish divergence on the moving […]

Recently, the EUR/USD pair has been trading upwards. As I expected, the price tested the level of 1.1268. Anyway, according to the 30M time frame, I found a fake breakout of yesterday’s high at the price of 1.1264, which is a sign that buying today seems risky. There is also a hidden bearish divergence on […]

It’s Tuesday and time for the primary Dukascopy Spike Controller, providing you with the benchmark interbank price data. Point 3 pips is the long term average spread for the Euro/Dollar. Maximum separation has been 1.3 pips. The pair has moved further above the 1 12 level, gaining point 6% or 67 pips. Spreads have been […]

Stock markets were mostly mixed during Tuesday’s trading session as investors observed from a safe distance following the Trump developments. Risk aversion simply turbocharged GOLD bulls with prices pressing against $1260. The absence of political risk in Europe has boosted the Euro’s attraction with the EURUSD lurching to 6-month highs. Much attention will be directed […]

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

Global macro overview for 23/05/2017: The Flash PMI data from across the Eurozone have surprised market participants. The PMI Composite Index for the whole Eurozone area was at the level of 56.8 points in May, which indicated that the economy was growing at the fastest pace in six years. The market assumed a minimal correction […]

Recently Trump’s leak scandal has been leading the USD move instead of economic performance. Last week USD had its biggest weekly fall since the US presidential election because of the scandal. The markets are concerned it will result in Trump’s plans not being able to be executed and worsen the economic slowdown. In addition, North […]

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

Trading plan for 23/05/2017: The terrorist attack in Britain set the financial markets to fly-to-safety mode, so Japanese Yen and GOLD are now in demand. The price of EUR/USD did not change much overnight, but the Dollar remains weak with new scandal revelations in Washington. On Tuesday 23rd of May, the event calendar is quite […]

The Dollar index remains in a bearish channel. Trend remains bearish. I favor a dollar bounce this week from current levels but we still have no confirmation of a reversal. Red lines – bearish channel Short-term resistance by the tenkan- sen is at 97.12 and by the kijun-sen at 97.47. Cloud resistance and target of […]

Good morning traders, let’s see where the Support and Resistance levels stand this Tuesday morning. Euro/Dollar is trading in the range limited by R1 of 1 1260 and S1 of 1 1210. Price Channel Indicator Upper Line is among the 2 studies for R1, and the upper two resistance lines also have found 2 matches […]

GOLD price remains just below the important resistance of $1,265 where the 61.8% Fibonacci retracement is found. Trend remains bullish but a pullback towards $1,250 is justified in the short term. As long as price is above $1,213, I expect Gold to reach $1,280-$1,300. Gold price continues to trade above both the tenkan- and kijun-sen […]

Markets were trading cautiously as news of a suspected terror attack in Manchester offset an overnight advance by Wall Street that took US stocks close to a fresh record. The dollar slipped to a more than six-month low on Monday, weighed down by an uncertain U.S. political climate, while Oil prices rose on expectations that […]

Wave summary: The failure to accelerate higher and the break below minor support seen at 1.5987 indicates that a slightly deeper correction towards 1.5836 should be expected before the next impulsive rally higher towards 1.6655. Short term, minor resistance is seen at 1.6154, which should be able to cap the upside for a deeper corrective […]

Wave summary: EUR/JPY broke above resistance seen at 124.94 indicating the rally of the 122.53 low was impulsive (in 5 waves). This means that wave B completed with the test of 122.53 and wave C towards 138.50 now is developing. The impulsive rally from 122.53 to 125.30 marks wave i and a correction in wave […]