Gold has plunged in the short term and now is trading around the $1,700 psychological level, the outlook remains bullish as long as the price stays above this downside obstacle. The selling pressure is high in the short term, but the major uptrend is unharmed, so the yellow metal could increase anytime again. Today’s ECB […]

EUR/JPY moved directly to the 122.70 target without taking a break first. Red wave iii/ now seems so stretched that a pause is needed. Red wave iv/ to at least 121.30 and possibly even closer to the 38.2% corrective target at 120.49 should be expected anytime now before the final rally higher towards 124.22 to […]

To open long positions on GBP/USD, you need: After yesterday’s unsuccessful attempt to once again break through above resistance 1.2609 during the US session, the pressure on the pound gradually increased, which I repeatedly paid attention to in my reviews. If you look at the 5-minute chart, you will see how another unsuccessful attempt to […]

To open long positions on EUR/USD, you need: Yesterday, the bulls demonstrated strength and managed to keep the pair above the 1.1183 level, from which I recommended to open long positions. If you look at the 5-minute chart, you will see how the repeated test of this range at the US session led to a […]

Trading Recommendation Entry: 1.11670 Reason for Entry: Ascending trendline support, 23.6% Fibonacci retracement, moving average Take Profit : 1.13623 Reason for Take Profit: -27.2% Fibonacci retracement Stop Loss: 1.11154 Reason for Stop loss: 38.2% Fibonacci retracement The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Gold challenges key short-term support June 3, 2020 […]

EUR/USD Yesterday, the euro reached the target range of 1.1250/65 and today, with the support of the Marlin oscillator turning down, it is ready to head for a correction. The purpose of the correction is the embedded line of the price channel in the region of 1.1133. Consolidating the price below it opens a deeper […]

GBP/USD The British pound did not reach the target level of 1.2644 in terms of the Fibonacci level of 110.0%. The reversal that started yesterday began again today in the Asian session. The nearest decline target is the Fibonacci level of 138.2% at the price of 1.2424. Behind it, the target is 1.2237 at a […]

AUD/USD The Australian dollar fulfilled one of our goals on Wednesday, defined by record levels – 0.6975. At the moment, the price is under the 0.6917 level, fixing it will extend the decline to the target level of 0.6830. It is very possible that the aussie will sharply fall, up to its reversal into a […]

USD/JPY The USD/JPY pair continues its steady growth towards the nearest target of 109.50. Consolidation above the level will allow the price to continue rising to the second target of 110.83 (November 26, 2017 low). Stock indices so far favor this desire of the dollar: S&P 500 gained 1.36% yesterday, while the Nikkei 225 is […]

GBP/USD 1H The pound/dollar pair continued its upward movement on Wednesday, June 3, but the movement has already thoroughly weakened. On the way to the highs of April 14 and 30, buyers clearly became more cautious and stopped buying the British pound (and selling the dollar) with the same volumes and with the same zeal. […]

EUR/USD 1H The EUR/USD pair continued its upward movement on June 3. This time the pair managed to grow by another 70 points or so, and also overcome the resistance level of 1.1205. Thus, nothing has changed over the past trading day. Buyers continue to dominate the market. At the moment, there is no sign […]

The euro-dollar pair is growing, as they say, “not by the day, but by the hour”: the price was able not only to stay within the 12th figure today, but also to update the three-month high along the way. Buyers, apparently, intend to test the resistance level 1.1270 (the upper line of the Bollinger Bands […]

On March 20, the EURUSD pair has expressed remarkable bullish recovery around the newly-established bottom around 1.0650. Bullish engulfing H4 candlesticks as well as the recently-demonstrated ascending bottoms indicated a high probability bullish pullback towards 1.0980 and 1.1075 (Fibo Level 50%). Shortly After, a bearish Head & Shoulders pattern was demonstrated around the price zone […]

OPEC + countries plan to extend the oil reduction deal. Many countries, including Russia, are in favor of the extension. Saudi Arabia has not yet voiced its decision in this regard. At the same time, the Kingdom recently expressed interest in extending the deal. Mitigation of restrictive measures in some regions has led to an […]

OPEC + countries plan to extend the oil reduction deal. Many countries, including Russia, are in favor of the extension. Saudi Arabia has not yet voiced its decision in this regard. At the same time, the Kingdom recently expressed interest in extending the deal. Mitigation of restrictive measures in some regions has led to an […]

Recently, Bullish persistence above 1.2265 has enhanced another bullish movement up to the price levels of 1.2520-1.2590 where significant bearish rejection as well as a quick bearish decline were previously demonstrated (In the period between 14th – 21 April). Moreover, Atypical Bearish Head & Shoulders reversal pattern was in progress. The GBP/USD pair was demonstrating […]

Recently, Bullish persistence above 1.2265 has enhanced another bullish movement up to the price levels of 1.2520-1.2590 where significant bearish rejection as well as a quick bearish decline were previously demonstrated (In the period between 14th – 21 April). Moreover, Atypical Bearish Head & Shoulders reversal pattern was in progress. The GBP/USD pair was demonstrating […]

Gold quotes continue to drop, largely due to the rapid rise of the stock market. The US, Asian and European stock indices have been growing for several days in a row now, which allowed some to reach their highest values over the past three months. Market participants are encouraged by the ongoing recovery of the […]

GBPJPY is in the process of breaking above the 136.93 level – that being the 61.8% Fibonacci retracement of the down leg from 144.94 to the 41½-month low of 123.97 – and the nearby 137.19 barrier. The pick up in price is starting to be reflected in the Ichimoku lines and the short-term oscillators. The […]

EURGBP’s recent ascent to 0.9054 seems to have stalled, reversing back down to the 0.8889 level, that being the 50.0% Fibonacci retracement of the up leg from 0.8281 to the 11-year peak of 0.9498. The current inactive demeanour within the pair is also reflected in the flattened Ichimoku lines. Directional momentum appears to have dried […]

USDJPY is breaking out. Price has finally broken above the horizontal resistance at 108 area and is moving towards our first target of 109. Price so far has made a high at 108.85 and we continue to be bullish as long as price is above 108. Green rectangle – horizontal resistance Blue line -long-term resistance […]

Gold price got another reversal from the $1,750 area and is pulling back towards key support of $1,720-$1,710. Gold price is challenging channel support and important support levels by the Ichimoku cloud indicators. Red lines – bullish channel Gold price is trading below both the tenkan-sen and kijun-sen indicators. A daily close below them would […]

The ADP employment report for the month of May showed a number of 2.76 million unemployed. This is lower than what the forecasts expected which is around 9 -11 million. This means that there is a sharp stop in the unemployment growth which will support the market sentiment for a V-shaped economic growth. If this […]

The US dollar index plummeted to an almost three-month low of 97.24 earlier today, continuing the sell-off of the last six days. The price penetrated the 200-day simple moving average (SMA) and the 61.8% Fibonacci retracement level of the up leg from 94.50 to 103.80 at 98.06, opening the path for a bearish picture in […]

Corona virus summary: Boris Johnson has opened the path to what he called one of the “biggest changes” to the British visa system, stating he was ready to offer a right to live and work in the UK to any of the nearly 3 million Hong Kong citizens eligible for a British National Overseas passport. […]