The Asian session saw equities climb to a fresh-two year high early on Tuesday on the back of an overnight rise in Wall Street fueled by reports that President Trump had disclosed classified information with the Russian Foreign Minister without necessary authorization from the source. This re-fueled the continued underlying uncertainties and reinforced doubts surrounding […]

Since April 2016, the USD/CAD pair has been trending upward within the depicted ascending channel. In December 2016, a bullish breakout above 1.3300 (50% Fibonacci level) was expected to allow a further advance toward 1.3700-1.3750 (the upper limit of the depicted channel). However, significant bearish rejection was expressed around 1.3580 (recently established top). During the […]

In December 2016, a bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide sufficient bearish pressure on the pair. Bullish persistence above 0.7100 allowed a further advance toward 0.7250-0.7350 (Sell-Zone) where the bearish price action was expected. Bearish persistence below 0.7250 allowed […]

Global stocks were static last week with most major arenas searching for direction on Monday as investors sought fresh inspiration. The main focus was Oil’s resurgence following reports of Russia and Saudi Arabia agreeing that supply cuts should be extended until March 2018. The absence of political risk in Europe has elevated the Euro while […]

You’re watching the Main Daily Trading Signals for Tuesday. Here’s how the technicals compare with the interbank at 8 AM GMT. There’s green across the table for the Euro/Dollar, which sees 6 buy prompts in the short-term, no less than 8 bullish signals in the mid-term and 4 green models in the long-term, and they […]

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

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

GOLD price is trading in a neutral zone inside the 4-hour Kumo. Trend has changed to neutral and price has bounced as we expected from the support area of $1,210-20. Blue lines -bearish channel Gold price has broken out of the bearish channel. Short-term resistance is at $1,242 and next at $1,250-60. As long as […]

Global macro overview for 16/05/2017: The Reserve Bank of Australia Meeting Minutes did not trigger any dramatic turnaround in the AUD market. The general RBA’s point of view is still dovish and positive, but the risks around rapid house price growth remains a principal concern. It was clearly expressed in this passage: “Growth in housing […]

Trading plan for 16/05/2017: The overnight publication of the RBA minutes did not cause higher volatility during the Asian session. Significant strengthening was noted by the Chinese Yuan, whose exchange rate was set by the central bank at 6.877 per Dollar at the end-April minima. Among the Asian stock Indices, the Nikkei 225 (0.3%) is […]

The US dollar index did not bounce yesterday and broke through the support. The last chance for dollar bulls is to make a double bottom at 98 and then bounce. The weekly trend line is broken and dollar bulls need to show more strength if they want the trend to reverse to the upside. Red […]

You’re watching the Support and Resistance Level Report for Tuesday. Here’s how our in-house model tests out. Euro/Dollar is up, and it now has the closest levels of 1 10 in resistance and 1 0970 in support. R1 is confirmed by Price Channel Indicator Upper Line, a psychological level and 5 other studies, and R3 […]

EUR/JPY has recently broken above the corrective structure after breaking above 123.50 resistance level. EUR is expected to extend gains in the coming days as it has cleared above the corrective structure. Today, we have the flash GDP report from the eurozone which is expected to be unchanged at 0.5%. Moreover, the German ZEW economic […]

GBP/USD has been in a volatile corrective structure after a break above 1.2800. For the recent 2 weeks, the price has been stalling between 1.2800 to 1.3000. Today, a good amount of volatility is expected in GBP because of the high impact economic news. Among them is UK CPI report which is expected to rise […]

GBP/JPY is expected to extend its upside movement. The pair recorded a succession of higher tops and higher bottoms and is holding on the upside. The rising 50-period moving average is playing a support role and maintains the upside bias. The relative strength index is above its neutrality level at 50 and lacks downward momentum. […]

Wave summary: The wave [ii] correction from 1.5941 could have completed early at 1.5803 and wave [iii] higher is now developing. For this outlook to be true, we need an impulsive break above resistance seen at 1.6020 soon. Otherwise, this more complex correction in wave [ii] will be expected for a move closer to 1.5723 […]

Wave summary: The break directly above 124.54 invalidated the triangle option, but we doubt that this break is the start of a new impulsive rally, but rather part of an expanded flat correction which is still calling for renewed downside pressure soon to below 122.94 to complete the correction in wave B. Short term, a […]

When the European market opens, some economic data will be released such as ZEW Economic Sentiment, Trade Balance, German ZEW Economic Sentiment, Flash GDP q/q, Italian Prelim GDP q/q, and French Final CPI m/m. The US will post a series of economic reports such as Mortgage Delinquencies, Industrial Production m/m, Capacity Utilization Rate, Housing Starts, […]

In Asia, Japan will release the Tertiary Industry Activity m/m. The US will also present some economic data such as Mortgage Delinquencies, Industrial Production m/m, Capacity Utilization Rate, Housing Starts, and Building Permits. So there is a probability the USD/JPY pair will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance […]

Overview: The USD/CHF pair dropped down from the levels of 0.994 and 1.0044 in order to bottom at the point of 0.9960. Today, the pair is trading above its pivot point. It is likely to trade in a higher range as long as it remains above the level of 0.9882. Hence, the major support was […]

Overview: The NZD/USD pair will continue moving downwards from the level of 0.6935. The pair has already dropped from the level of 0.6935, which coincides with the ratio of 50% Fibonacci retracement, to the bottom around 0.6817. The first resistance level is seen at 0.6873 (the daily pivot point) followed by 0.6907, while daily support […]

http://www.elliottwave.com/Investor-Research/Financial-Forecast-Service?tcn=ytv1703 A chief investment officer just told USA Today, ““Listening to the 6 o’clock news gets investors off track.” Find out why he made that statement. Plus, see what a “news-driven” and rational-reaction graph of stock prices would look like. (Hint: It’s nothing you’d ever see in real life.) Learn How the Wave Principle Can […]

The index is extending losses below the 200 SMA on the H1 chart and is trying to invalidate the bullish outlook that we’ve been managing since last week. So far, USDX has been approaching the support level of 98.77, where a breakout should open the doors to test the 98.47 zone. However, as this move […]

The pair had a quite volatile session on Monday as gains from the early European session were quickly erased in the American session, pushing the Cable to consolidate again below the 1.2900 handle. At present, we’re watching moves below the 200 SMA on H1 chart. The next support is still placed around 1.2855, while to […]

We take a nice detailed look at AUD/USD and see if there are any trading opportunities for us to make some juicy pips! We combine the art of Fibonacci retracements, Fibonacci extensions, Support & Resistance along with Stochastic and RSI to determine the best entry, stop loss and profit targets. Subscribe to me for more […]