Trading Recommendation Entry: 1.09203 Reason for Entry: 127.2% fibonacci extension and 61.8% fibonacci retracement, horizontal overlap resistance Take Profit: 1.08348 Reason for Take Profit: horizontal pullback support, 61.8% fibonacci retracement Stop Loss: 1.09630 Reason for Stop loss: 76.4% fibonacci retracement The material has been provided by InstaForex Company – www.instaforex.com

EUR/USD The euro grew by 94 points on several controversial factors yesterday – on the one hand, oil rose by 10.5% to 32.83 dollars and overall risk appetites increased, on the other hand, the EU summit considered a package of assistance to the affected sectors and regions, which is half as much, than expected – […]

AUD/USD The Australian dollar chose a rising scenario on Monday, an increase of 110 points. The price lingered in the range of target levels 0.6495-0.6562, and the situation is such that overcoming one of its borders sets the aussie’s direction for several days or even weeks. An exit above 0.6562 with price taking above it […]

USD/JPY The Japanese currency is in a very difficult position; The dollar index fell 0.75% on Monday, while Japan’s GDP for the first quarter showed a decline of -0.9% after -1.9% in the fourth quarter, which indicates Japan’s official recession, but stock indices were growing. The Nikkei 225 adds 1.88% in the Asian session today. […]

USD/JPY The Japanese currency is in a very difficult position; The dollar index fell 0.75% on Monday, while Japan’s GDP for the first quarter showed a decline of -0.9% after -1.9% in the fourth quarter, which indicates Japan’s official recession, but stock indices were growing. The Nikkei 225 adds 1.88% in the Asian session today. […]

GBP/USD 1H An upward movement also began on the hourly chart for the pound/dollar pair on May 18, but within the framework of the downward channel. Traders managed to work out the Kijun-sen line of the Ichimoku indicator by the end of the first trading day of the week, which runs at a price level […]

EUR/USD 1H Quotes of the EUR/USD pair sharply jumped on the hourly timeframe yesterday, breaking the Senkou Span B line of the Ichimoku indicator on the 4-hour timeframe, and the first resistance level is 1.0886 and the resistance area is 1.0880 – 1.0893. Traders were not able to overcome a long-term ascending trend line for […]

4-hour timeframe Technical details: Higher linear regression channel: direction – downward. Lower linear regression channel: direction – downward. Moving average (20; smoothed) – downward. CCI: -120.8191 The British pound also started an upward movement on the first trading day of the week, but in this case, we are talking about a correction against the downward […]

4-hour timeframe Technical details: Higher linear regression channel: direction – downward. Lower linear regression channel: direction – downward. Moving average (20; smoothed) – sideways. CCI: 222.3220 The EUR/USD currency pair starts a new trading week with an upward movement inside a narrow side channel of 1.0780-1.0880. By the end of the last day, the quotes […]

EURUSD has held support last week and price bounced higher. Short-term resistance at 1.0880 was broken and price eventually reached the 61.8% Fibonacci retracement level at 1.0925. We are now at a major Fibonacci resistance level with potential to move higher towards 1.0985. EURUSD has bounced strongly towards the important Fibonacci retracement. As long as […]

Gold price has reached very close to out target that we noted in previous posts after breaking above the key short-term resistance at $1,720-25 area. Gold price although pushed higher today towards $1,765, the end of the day found bulls on the defensive as sellers overpowered them. Red line – bearish divergence Green rectangle -target […]

4-hour timeframe Average volatility over the past five days: 69p (average). The EUR/USD pair continues to trade calmly and slowly on Monday, May 18. Quotes did not move at all in the morning, and movement only began in the market during lunch. It cannot be said that there has been a surge of emotions in […]

The pressure on the pound decreased on Monday, and the British currency settled significantly above the psychologically important mark of $1.20. However, sterling positions still look unattractive in comparison with other currencies. Despite the fact that the GBP/USD pair has already lost more than 500 points from the local high reached at the end of […]

Minuette operational scale (H4) Commodity currencies and the dollar index – #USDX vs AUD/USD & USD/CAD & NZD/USD – options for the development of the movement from May 19, 2020. ____________________ US dollar index From May 19, 2020, the movement of the dollar index (#USDX) will be determined by the development and direction of the […]

EURUSD: As you can see, there is a new attempt to go up from the range. The pair broke through 1.0900 upwards. You may buy the euro from 1.0855 with a stop at 1.0810. However, in principle, if it is very unfortunate to give the market a stop, you can transfer the stop to 1.0835, […]

Intermediate-term Technical outlook for the GBP/USD pair remains bullish as long as bullish persistence is maintained above 1.1890-1.1900 (Double-Bottom Neckline) on the H4 Charts. 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 […]

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 […]

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 […]

The precious metals market seems to be the only truly stable haven for market participants at the moment. Gold has shown a significant leap up, which allowed it to overcome the strategically important level of $1.750 dollars per troy ounce. It was this mark that kept the precious metal from further progressing to the level […]

A raft of economic data is due out of the United Kingdom this week, starting with the labour market report on Tuesday and the consumer price index on Wednesday. Both will be released at the earlier than usual time of 06:00 GMT. Following last week’s dire GDP figures, traders should be braced for more depressing […]

From the point of view of complex analysis, we can see that the slowdown observed before underwent another slowdown. The past trading week was expressed in a narrow framework, where the well-known level of 1.0775, which market participants had been focusing on for more than one week, served as the lower border. The upper limit […]

FXTM Senior Research Analyst, Lukman Otunuga, rounds up all the key market events for this week and pinpoints what traders might be looking out for, including: • Market mood improves as economies across the globe re-open • #PMI’s from Europe to the United States in focus • Is #Gold heading towards $1800? For more Market […]

AUDUSD has been consolidating since the end of April around the Ichimoku cloud and the 40-period simple moving average (SMA) currently at 0.6473. The price is trading within the 0.6378 – 0.6570 area with the stochastics approaching the overbought zone and the RSI touching the 50 level, suggesting some more gains in the 4-hour chart. […]

Technical outlook: EUR/USD is seen to be trading around 1.0821/22 levels at this point in writing and is expected to breakout of trading range. It has been drifting sideways for a few weeks now and a breakout is imminent. Immediate resistance is seen towards 1.1020 levels and a break there would shift focus towards 1.1150 […]

BTC News: The first post-halving Bitcoin (BTC) mining difficulty adjustment is tomorrow, and it’s likely bringing much-needed relief to BTC miners that experienced their third pay cut a week ago. Just six days ago, following the historic third halving of BTC mining reward – lowering the block subsidy from BTC 12.5 to BTC 6.25 per […]