The content of the United States Department of Labor report is truly surprising. Only two possible explanations come to mind – either it’s a miracle, or someone draws numbers beautifully. Apparently, these oddities with statistics became the main reason for the dollar’s sluggish growth. Although, of course, it is impossible to write off the protests, […]

Technical Market Outlook: The GBP/USD has bounced from the upper channel line after the test and now is getting away from this level. The bulls have managed to push the price towards the short- term technical resistance zone located between the levels of 1.2747 – 1.2786 and the bulls might be getting ready to test […]

Trend analysis (Fig. 1). Today, a downward pullback is possible after unsuccessfully testing the upper fractal 1.2730 (presented in a red dashed line) with the target of 1.2576 – a 23.6% pullback level (presented in a red dashed line). If this line is reached, the downward trend may continue with the target of 1.2482 – […]

Technical Market Outlook: The EUR/USD pair has hit the technical resistances zone located between the levels of 1.1347 – 1.1361 and made a Shooting Star candlestick pattern. This might be a signal for a potential pull-back or even a correction towards the level of 1.1236 or 1.1190. The key short-term technical support is still seen […]

Crypto Industry News: On June 4, a new study by a number of Russian cryptographic exchanges revealed a significant increase in Bitcoin trade throughout Russia since March in connection with COVID-19. According to RBC, representatives of Russian stock exchange offices, such as Binance, Garantex and EXMO, highlighted the increase in the number of users in […]

Crypto Industry News: The US Federal Reserve branch in Philadelphia has released a new report warning of the potential effects of the Central Bank (CBDC) issuing digital currencies. In the report, the Fed said that – after the introduction of CBDC – the central bank will become “a monopolist on deposits, attracting all deposits away […]

Trend analysis (Fig. 1). Today, the downward trend may continue from the level of 1.1294 (closing of the Friday afternoon candle) with the target of 1.1208 – a 23.6% retracement level (presented in a red dashed line). There is a possibility that the price may continue to move down from this level with the target […]

Hello, dear colleagues! Well, the first summer week was spent on a wave of risk sentiment and ended with a weakening of the US dollar across a wide range of the market. Investors’ appetite for risk is indicated by the fact that safe-haven currencies such as the Swiss franc and Japanese yen were unclaimed and […]

OPEC + countries have reached an agreement on the extension of restrictions on the reduction of oil production, a decline of 9.7 million barrels per day will last until the end of July, which is more than the originally planned reduction of 7.7 million. The Monitoring Committee will meet every month until December, besides, OPEC […]

GB/JPY rallied nicely into our expected target at 139.07 (the peak was seen at 139.77) with the target for red wave iii fulfilled, we should now expecte a correction in red wave iv to unfolding in the coming days. This correction will ideally dip into support in the 137.10 – 137.60 area before the next […]

To open long positions on GBP/USD, you need: The pound’s next growth against the US dollar is more likely connected with the greenback’s weakness than with the sterling’s strength itself, however, we must pay tribute, the pound really enjoys support even without any reason. There is no progress in trade negotiations between the UK and […]

To open long positions on EUR/USD, you need: On Friday, in my forecast for the afternoon, I drew attention to the probability of a false breakout of the level of 1.1358 and the pair’s fall after the release of the report on the state of the US labor market, which happened. The bulls tried to […]

EUR/USD Strong data on US employment came out last Friday. They came out so strong that they launched a ten-day anti-dollar trend. In May, 2.51 million (!) new jobs were created in the non-agricultural sector against a forecast of a decrease of 8.0 million, the general unemployment rate fell from 14.7% to 13.3% against a […]

AUD/USD The Australian dollar is moving sideways at a target level of 0.6975 since Friday last week as well this morning. The sideways movement increased the technical divergence on the Marlin oscillator. We are waiting for the movement to the first support of 0.6830. The Marlin divergence has also developed on the four-hour chart, the […]

USD/JPY The Japanese yen exceeded the target level of 109.50 on Friday, it attempts to consolidate above this level today. The final estimate of Japan’s GDP for the first quarter was increased to -0.6% from -0.9% in the preliminary estimate. The balance of payments for April fell from 0.94 trillion. yen to 0.25 trillion, consumer […]

Trading Recommendation Entry: 0.69578 Reason for Entry: horizontal overlap support, 127.2% fibonacci extension and 61.8% fibonacci retracement Take Profit: 0.68798 Reason for Take Profit: horizontal swing low support Stop Loss: 0.70194 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:EURUSD remains […]

Trading Recommendation Entry: 140.810 Reason for Entry: horizontal overlap resistance, 100% fibonacci extension and 78.6% fibonacci retracement Take Profit: 135.753 Reason for Take Profit: horizontal pullback support and 38.2% fibonacci retracement Stop Loss: 143.060 Reason for Take Profit: 88.6% fibonacci retracement The material has been provided by InstaForex Company – www.instaforex.com Related Posts:EUR/USD: plan for […]

GBP/USD 1H The pound/dollar also traded with an increase last week, and could not even start a downward correction at the end of the week. The bulls were only allowed to pull down quotes from the highs of June 5 by 60 points. At the same time, the ascending channel acquired a more convincing appearance […]

EUR/USD 1H The EUR/USD pair began to finally correct in the hourly timeframe on June 5. Nevertheless, since the pair’s quotes went much higher than the ascending channel earlier, now they just returned to it. Thus, a correction is visible on the hourly chart, but no more. There is no talk of any change in […]

EUR/USD 1H The EUR/USD pair began to finally correct in the hourly timeframe on June 5. Nevertheless, since the pair’s quotes went much higher than the ascending channel earlier, now they just returned to it. Thus, a correction is visible on the hourly chart, but no more. There is no talk of any change in […]

4-hour timeframe Technical details: Higher linear regression channel: direction – upward. Lower linear regression channel: direction – upward. Moving average (20; smoothed) – upward. CCI: 81.6754 The EUR/USD currency pair starts on June 8 with a downward correction, which still started on the last trading day of the past week. We talked about the correction […]

The British pound also quietly rose in price against the dollar over the past week, and this event is even more surprising than the growth of the European currency. In previous articles, we have already mentioned that the UK’s fundamental background has been so alarming in recent months that it’s hard to imagine what could […]

It is vital to take a break following the EUR/USD pair’s impressive rally last week. A downward correction seems to have begun on Friday. However, the critical Kijun-sen line has not been reached at the moment, not to mention the moving average line on the linear regression channels trading system. Thus, so far the scale […]

It is vital to take a break following the EUR/USD pair’s impressive rally last week. A downward correction seems to have begun on Friday. However, the critical Kijun-sen line has not been reached at the moment, not to mention the moving average line on the linear regression channels trading system. Thus, so far the scale […]

24-hour timeframe Over the past week, the British pound has also continued to rise in value in pair with the US currency and this is the most surprising event (from our point of view). We believe that the only reason that can explain it is the technical need for correction. Although the current movement can […]