Technical outlook: EUR/USD had hit 1.1384 levels last week before pulling back. The single currency pair is seen to be trading below 1.1300 levels at this point in writing and is expected to continue lower towards 1.1200. Immediate support is seen around 1.1200, while resistance is fixed at 1.1385 respectively. A bullish bounce around 1.1200 […]

The new trading week began with positive news on oil, as OPEC members were able to reach a consensus yesterday on continuing the previously signed reduction agreement on oil production. Quotas on production cuts were mostly reached, so oil quotes increased in the market. Member states of the OPEC also agreed to a more intensive […]

Oil prices have just begun to recover, so OPEC countries and Russia have decided that it is not the time to give up and ease restrictive measures. Therefore, in order to keep the balance in the market, which has been affected by the coronavirus pandemic, countries will continue to reduce oil production for another month, […]

From the point of view of complex analysis, we can see high pressure on long positions due to the convergence of quotes with the area of interaction of trading forces. Last trading week maintained the previously set bullish mood, the result of which is the quotes managing to change the tact of the two-month flat […]

Restrictions on international travel imposed by Russia are to be eased, the prime minister, Mikhail Mishustin, said on Monday, as he announced a rollback of coronavirus measures. The city of Moscow will also roll back curbs imposed over the virus from Tuesday, including cancelling a digital pass system for residents and a self-isolation regime, the […]

Technical analysis: USD/JPY has been trading downwards . The price tested and rejected of the level at 109,27. I see potential for ther further rise towards the 109,84. Trading recommendation: Watch for potential buying opportunities on the dips towards the levels at 109,85. I found that there is bullish divergence on the Stochastic oscillator and […]

To open long positions on EURUSD, you need: In the first half of the day, nothing has changed. Low trading volume and weaker indicators for German industrial production, which showed a decline in April this year, did not lead to any special changes in the market, leaving everything in its place. On the 5-minute chart, […]

The latest COT report (Commitments of Traders). Weekly Outlook for GBP / USD According to a new report by COT (Commitments of Traders), open interest in the British pound was increased (190.138 against 188.650) again, and the number of large players working with this currency continued to increase (112 against 107). The report shows that […]

Coronavirus updates from around the world: The US records a sharp drop in deaths at below 400 per day, which, for a long time, holds a figure above 1,000. New cases also decreased to below 20,000 per day. Brazil also observed a decrease in the number of new cases per day, from 30 thousand to […]

Today we take a look at and see Gold how we are going to play the bounce! We use Fibonacci retracements, extensions, support/resistance, momentum and trend lines to identify trading opportunities in this exciting pair today! The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Trading plan for EUR/USD on June 6, 2020. […]

According to the main chart of the epidemic in Russia, which shows the number of active cases, that is, the number of people being treated, we can see a new high (240 thousand). This means that health workers in Russia are currently exceptionally busy. Given the fact that the number of active cases in Moscow […]

Last week, the ECB made it clear that its bond purchase program is to be the main tool for economic recovery, increasing the fund for the program by about € 600 billion euros. The program now costs € 1.35 trillion, exceeding investor’s expectations, and leading to the abrupt rise of the European currency. Nevertheless, the […]

GBP/USD Analysis: Since mid-March, the formation of an upward wave continues on the chart of the British pound. The price has reached the lower limit of a strong potential reversal zone on a large scale and the wave structure is not complete today. Forecast: Today, the price is expected to move mainly in the lateral […]

From the point of view of complex analysis, you can see the first major change in a long time, but now let’s talk about the details. Last trading week passed according to a given upward movement, during which the quote worked out the average level of 1.2350 at the beginning of the path, and eventually […]

Gold is trading at $1,695 level and most likely will challenge the $1,700 psychological level soon again. Price plunged on Friday as the US data came in better than expected, so the metal dropped as much as $1,670 level. However, now it comes back to test and retest some broken levels. The COVID-19 crisis slowdown […]

EUR/USD managed to retreat a little in the short term. The US NFP and the unemployment rate figures surprised market participnats on Friday. However, the outlook is still bullish despite a minor drop. I really hope that we’ll have a clear direction and a fresh trading signal soon as the pair is trading near a […]

Last week, American and European currencies rose to price peaks, experiencing unprecedented euphoria. But sometimes, enthusiasm was replaced by bouts of pessimism, but the overall picture remained within the upward trend. However, experts warn the markets against excessive optimism, fearing a sharp decline in the EUR/USD pair in the near future. After an impressive rally […]

The euro/dollar pair started the week cautiously: traders traded on the inertia of Friday trading during the Asian session on Monday, which ended not in favor of the single currency. Moreover, unexpectedly strong Nonfarms returned the EUR/USD bulls from a three-month price high of 1.1384 to 1.1291 (Friday’s closing price). Today, sellers are trying to […]

EUR/USD has stopped and formed a bearish Pinbar near the strong resistance area at $1.1400. That area consists of a horizontal resistance level and a daily resistance trend line which add even more strength to this area. From the resistance area, the price has pulled back to the previous resistance line of the H4 uptrend […]

GBP/USD has managed to break above strong resistance line at 1.26228. That level stopped the price twice. The first time was on April 30 and the second time was on April 14. Since the price is above the key resistance level, we should look for bullish price action signals. We have a bearish Pinbar that […]

Trading Recommendation Entry:1.3393 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:GBP/JPY testing resistance, potential reversal June 8, 2020 Trading RecommendationEntry: 140.810Reason for Entry: horizontal overlap […]

The pair rallied up last week, almost testing the upper pullback level of 76.4%, 1.2744 (blue dotted line). Most likely, the price can pull back this week after reaching the resistance line 1.2896 (red bold line). Trend analysis. This week, the price from the level of 1.2664 (closing of the last weekly candle) will move […]

U.S. media reports that Donald Trump has approved a plan to withdraw 9,500 of US soldiers from German bases until September 2020. Trump has long said that European NATO members must increase the cost of their defense. At the moment, he wants to limit the number of US troops to 25,000. According to the media, […]

The pair continued its upward rally last week. As it moved up, the price tested the resistance line 1.1383 (red bold line) and after that, it declined and closed the weekly candle 93 points lower. The price for the coming week may continue to move down, in a pullback. Trend analysis. This week, the price […]

Forecast for June 8: Analytical review of currency pairs on the scale of H1: For the euro / dollar pair, the key levels on the H1 scale are: 1.1429, 1.1365, 1.1299, 1.1254 and 1.1170. Here, the price is in the correction zone from the upward structure on May 25. A short-term upward movement is possible […]