The pair traded in the side channel on Wednesday and did not manage to break through 1.2293 – 38.2% pullback level (presented in a red dashed line). Today, the price may begin to move down. Economic calendar news for the pound is expected at 08:30 UTC, and for the dollar at 12:30, 14:00 and 18:30 […]

The minutes of the FOMC meeting, published on Wednesday evening, did not provoke revival in the markets, since Fed Chairman Powell had already visited the banking committee of Congress literally the day before, where he had revealed the main parameters of the Fed’s current position. The growth of oil and the gradual lifting of quarantine […]

Yesterday, the publication of the construction report in the United States was cancelled. It became the most notable event of the day. Honestly, the situation is rather unusual. Recently, similar events have happened several times. However, that was less important data from the UK. Usually, it concerns some kind of data on housing prices and […]

Trend analysis (Fig. 1). Today, a downward trend is likely to take place from the level 1.0981 (closing of yesterday’s candle) with the target of 1.0945 – a 23.6% retracement level (presented in a red dashed line). From this level, the price may continue to move downwards with the next target of 1.0911 – a […]

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WTI crude oil futures are continuing a sharp bullish tendency after the rebound on the multi-year low of 6.75. The bullish crossover within the 20- and 40-day simple moving averages (SMAs) is approving this sentiment in the near term, while the price is ready to recoup the negative gap that posted on March 9. The […]

Forecast for May 21: Analytical review of currency pairs on the scale of H1: For the euro / dollar pair, the key levels on the H1 scale are: 1.1082, 1.1041, 1.1005, 1.0986, 1.0935, 1.0912 and 1.0885. Here, we are following the development of the ascending structure of May 14. The continuation of the upward movement […]

The pound-dollar pair retreated from two-month price lows due to the general wave of optimism associated with the possible creation of a fund to restore the European economy. By and large, the pound followed the euro, while its own fundamental factors are only negative for the British currency. The single currency suspended its growth during […]

Trading Recommendation Entry: 1736.57 Reason for Entry: Ascending trendline resistance, 38.2% Fibonacci retracement. Take Profit : 1764.06 Reason for Take Profit: Horizontal swing high, 161.8% Fibonacci extension Stop Loss: 1719.35 Reason for Stop loss: 61.8% Fibonacci retracement The material has been provided by InstaForex Company – www.instaforex.com Related Posts:USDCAD bouncing off 1st support, potential bounce […]

Trading Recommendation Entry: 1.3880 Reason for Entry: Horizontal swing low ,78.6% fibonacci extension Take Profit :1.3961 Reason for Take Profit: Horizontal swing high resistance Stop Loss: 1.3828 Reason for Stop loss: 127% fibonacci extension The material has been provided by InstaForex Company – www.instaforex.com Related Posts:CAD/JPY facing bearish pressure from resistance,… May 21, 2020 Trading […]

Trading Recommendation Entry: 77.860 Reason for Entry: horizontal swing high resistance and 100% fibonacci extension Take Profit: 76.383 Reason for Take Profit: horizontal overlap support, 50% fibonacci retracement Stop Loss: 78.499 Reason for Stop loss: Horizontal swing high resistance The material has been provided by InstaForex Company – www.instaforex.com Related Posts:USDCAD bouncing off 1st support, […]

EUR/USD Yesterday, the euro continued to work out positive economic statistics; on Tuesday it was the release of a strong eurozone business sentiment index for May from the ZEW institute – an increase from 25.2 to 46.0, on Wednesday the consumer confidence index also showed an increase from -23 to -19 in May. The eurozone […]

AUD/USD The Australian dollar grew by 60 points on Wednesday, and it almost returned to yesterday’s opening today in the Asian session. This is a sign that the price will not reach the target level of 0.6677, the aussie aimed to overcome the price channel line in the region of 0.6492, which will be a […]

USD/JPY The USD/JPY pair traded in the range of 65 points yesterday, but the body of the candle remained in the space between the downward line of the price channel and the red balance indicator line. This means consolidating the price over the MACD line (blue) and the line of the price channel itself. The […]

GBP/USD 1H Lateral movement was observed on the hourly chart for the pound/dollar pair on May 20. Quotes of the pair left the downward channel, although yesterday there were hopes that they would remain within it. At the same time, traders managed to overcome the resistance area of 1.2196-1.2215. Thus, at the moment, it is […]

EUR/USD 1H Quotes of the EUR/USD pair resumed the upward movement and overcame a new downward trend on the hourly timeframe over the past day, built at the highs of March 27 and May 1. In addition, the quotes of the pair ideally worked out the April 19 high at 1.0990, which is also the […]

4-hour timeframe Technical details: Higher linear regression channel: direction – downward. Lower linear regression channel: direction – downward. Moving average (20; smoothed) – sideways. CCI: 83.1255 The British pound spent the third trading day of the week in a very narrow price range and began to move down by the end of the trading day, […]

4-hour timeframe Technical details: Higher linear regression channel: direction – downward. Lower linear regression channel: direction – upward. Moving average (20; smoothed) – upward. CCI: 125.4280 The EUR/USD currency pair starts near the level of 1.1000 on May 21 and intends to start a downward correction. During yesterday’s day, the pair’s quotes perfectly worked out […]

4-hour timeframe Average volatility over the past five days: 80p (average). Following a slight correction, the EUR/USD pair resumed the upward movement within the framework of the side channel, limited by the levels of 1.0750 and 1.0990 on Wednesday, May 20. Thus, as we expected this morning, the pair will try to clearly work out […]

The pound was able to rise against the US dollar on Wednesday, while falling against the euro. The clouds over sterling continue to gather. A portion of today’s negative came from the inflation data, which fell below 1%, to a 4-year low. This happens at a time when the UK financial authorities are debating negative […]

The pound was able to rise against the US dollar on Wednesday, while falling against the euro. The clouds over sterling continue to gather. A portion of today’s negative came from the inflation data, which fell below 1%, to a 4-year low. This happens at a time when the UK financial authorities are debating negative […]

The euro-dollar continues to show bullish sentiment. Today, buyers approached the boundaries of the 10th figure – the last time the pair was in this price area was almost three weeks ago – in early May, when traders massively recorded profits amid a downward turn in the buzz around the dollar. At that time, the […]

Few weeks ago, 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 at least towards 1.0980 and 1.1075 (Fibo Level 50%). Around the price zone between (1.1075-1.1150), a bearish Head & Shoulders pattern […]

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). Currently, Atypical Bearish Head & Shoulders reversal pattern may be in progress. The pair was recently […]

The US 100 stock index (cash) has almost recovered from the covid-19 injury, comfortably recouping the lost ground within the 9,000 territory this week and further deviating above its simple moving averages (SMAs). According to the strengthening RSI and the rising Stochastics, there is more bullish fuel in store, which could drive the price towards […]