Gold price is trading below $1,840. Gold price is breaking out and below the Daily Kumo and this is a bearish sign. The end of the week finds Gold price near its lowest levels and this is not a good sign for next week. Gold price remains vulnerable to a move towards $1,800-$1,750. Gold price […]

US Dec advance retail sales -1.4% vs 0.0% expected Prior was -1.1% (revised to -1.4%) retail sales ex auto -1.4% vs. -0.2% estimate retail sales ex auto and gas -2.1% vs. -0.3% estimate retail sales control group -1.9% vs. +0.1% estimate This is a poor report and the November numbers were revised significantly lower as […]

The Bank of Japan will hold its very first meeting for the year on January 21. According to most analysts, the Japanese central bank will keep all the parameters of monetary policy in the same form, despite the worsening epidemiological situation in the country. At the same time, BOJ Governor Haruhiko Kuroda warned that this […]

CB: PEPP more efficient than a rate cut in the current pandemic conditions All members agreed that additional support was needed Uncertainty remains high and positive sentiment could erode quickly It was widely considered appropriate and proportional to increase the horizon of net purchases under PEPP Risks of an unanchoring of inflation expectations were salient […]

The value of the main cryptocurrency – bitcoin – continues to grow steadily on Thursday, January 14. Over the past day, the digital coin has increased in price by 10.2% and is trading at $38,625. Altcoin ETH rose 10.03% to $1,123, while XRP rose 2.44% to $0.297. It is obvious that the current increase in […]

The price of gold is traded at the $1,838 level after failing once again to take out the $1,862 static resistance. USD’s temporary appreciation versus its rivals has pushed the yellow metal down in the short term. Still, Gold has signaled that the corrective phase is over and that the buyers could take it higher […]

Demand for the euro began to decline yesterday, after the speech of ECB President Christine Lagarde, even though it was more about the EU banking system and profit forecasts. Lagarde also said that despite the spread of the coronavirus and the resumption of quarantine, the European Central Bank’s expectations for economic growth in the eurozone […]

The most important negative factors that are forcing global markets to consolidate are still the worsening political situation in the US and the pressure from the COVID-19 pandemic. Yesterday’s announcement of US President Donald Trump’s impeachment by Congress did not greatly affect the mood of investors. Markets continue to separate their emotions. Moreover, they believe […]

USDCHF started a positive day after it found several times support at the 23.6% Fibonacci retracement level of the down leg from 0.9295 to 0.9029 at 0.9092 over the last days. The RSI indicator is pointing upwards in the positive area, while the MACD oscillator is extending its move above its trigger and zero lines. […]

Further Development Analyzing the current trading chart of BTC, I found that BTC tested the my downward target at $13,200 but that there is still space for more downside towards $12,720. My expectation is the BTCcan trade lower and the selling opportunities on the rallies is preferable strategy for this condition. Watch for selling opportunities… […]

Eurozone October final consumer confidence -15.5 vs -15.5 prelim Economic confidence 90.9 vs 89.6 expected Prior 91.1; revised to 90.9 Industrial confidence -9.6 vs -10.9 expected Prior -11.1; revised to -11.4 Services confidence -11.8 vs -14.0 expected Prior -11.1; revised to -11.2 While industrial confidence continued to improve, services confidence is seen slipping amid the […]

ECB’s Jochnick: The possibility of a double-dip recession cannot be ruled out yet Comments by ECB banking supervision member, Kerstin af Jochnick Adding that “the baseline scenario of our projections cannot be taken for granted”. This could be a personal opinion but it also reflects the downside risks to the outlook, which I would expect […]

EUR/USD drops as the US Dollar Index increases in the short term. The pair drops when the index increases, and it grows when the USDX drops. You can see that the price has escaped from the ascending channel signaling a downside movement. The immediate downside target is seen at 1.17 level, so a drop under […]

The Canadian dollar reacted emotionally to the results of this year’s meeting of the Bank of Canada. The USD/CAD pair lost 150 points in just a few hours, reaching the middle line of the Bollinger Bands indicator on the daily chart (1.3334). The last time the pair was at this level was almost a month […]

Gold and bitcoin are considered the safest assets today. In October, the cost of one bitcoin increased by 27%, and since the beginning of 2020, its price has skyrocketed by 81%. Gold, in turn, has risen in price by 25% over the same period of time. These assets have a lot in common. Their main […]

The construction of the expected new upward section of the trend continues. The internal wave layout has gotten confused, as the third wave takes on a rather non-standard appearance, and under certain conditions it may even be completed. The wave marking of this instrument is similar to the wave marking of the EUR/USD instrument. Starting […]

The GBP / USD pair showed very high activity yesterday, as a result of which the quote was able to move below the psychological level of 1.3000. However, market participants weren’t able to stay below this control level, thus, the quote returned to the psychological value, as if nothing had happened. If we look at […]

Panic selling in equities as France and Germany announce new virus-fighting measures Yen and dollar surge amid the turmoil, commodity FX and gold hammered Markets have stabilized on Thursday, but the calm seems fragile Today: ECB policy decision, German inflation, US third-quarter GDP Equities fall apart, haven currencies shine Global markets buckled under the weight […]

Let’s take a look at USD/JPY technical picture after the Bank of Japan interest rate decision and EUR/USD technical picture before the ECB interest rate decision. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Technical analysis of USD/JPY for October 29, 2020 October 29, 2020 Overview :The USD/JPY pair continues to move […]

Overview : The USD/JPY pair continues to move downwards from the level of 104.75. Yesterday, the pair dropped from the level of 104.75 to the bottom around 104.13. But the pair has rebounded from the bottom of 104.13 to close at 104.23. Today, the first support level is seen at 104.13, the price is moving […]

Massive sell-offs were recently observed in gold and silver, and chief market strategist of Blue Line Futures, Phil Streible, said the reason for this is that investors are looking for security outside of precious metals. “The increase of bonds, as well as the rally of the Japanese yen, together with the sharp fall of gold […]

AUDUSD seems to have glided into a sideways market below the stable Ichimoku cloud after a gradual withdrawal from the 25-month top of 0.7413. The relatively flattened 50-and 100-day simple moving averages (SMAs), and the pause in the decline of the Ichimoku lines, both back the stalled picture in the aussie. The short-term oscillators also […]

EURJPY reached a fresh three-month low of 122.16 on Wednesday, continuing the sell-off in the short-and medium-term timeframes. The RSI indicator is ticking lower in the negative territory, while the MACD oscillator is flattening below its trigger and zero lines. Also, the 20- and 40-period simple moving averages (SMAs) are sloping down, confirming the recent […]

The US 30 index (cash) is set for its largest weekly loss since June after plummeting by almost 3% on Wednesday. The 100-day simple moving average (SMA) could not catch the fall as it notably did back in June and September, letting the price hit a fresh low of 26,499 below the Ichimoku cloud and slightly […]

The dollar climbed up in the market yesterday amid a high likelihood of lockdowns in many European states. This puts very serious pressure on investors, who until recently were betting on the strengthening of risky assets, inspired by the positive revision of many economic forecasts. Now, the outlook for German GDP for the 4th quarter […]