Trading Recommendation Entry: 1.40225 Reason for Entry: Horizontal swing low support , 50% fibonacci retracement Take Profit :11.4247 Reason for Take Profit: 50% fibonacci retracement, horizontal swing high Stop Loss: 1.3845 Reason for Stop loss: Horizontal swing low The material has been provided by InstaForex Company – www.instaforex.com

The single European currency came under strong pressure after the decision of the High Court of Germany regarding previously taken measures of broad stimulation of the ECB. He said that the regulator should justify the purchase of government bonds in the region, otherwise the Bundesbank will leave the participants in this process. This news shocked […]

EUR/USD is very heavy in the short term, it has ignored the near-term support levels and now it is approaching new lows. Yesterday’s US data has strengthened the dollar, the ISM Non-Manufacturing PMI was reported at 41.8 points, far above the 37.5 estimates. The pair should drop further if the USDX resumes the bullish momentum. […]

EUR/USD is very heavy in the short term, it has ignored the near-term support levels and now it is approaching new lows. Yesterday’s US data has strengthened the dollar, the ISM Non-Manufacturing PMI was reported at 41.8 points, far above the 37.5 estimates. The pair should drop further if the USDX resumes the bullish momentum. […]

Forecast for May 6: Analytical review of currency pairs on the scale of H1: For the euro / dollar pair, the key levels on the H1 scale are: 1.0900, 1.0870, 1.0852, 1.0818, 1.0792, 1.0771 and 1.0728. Here, we are following the development of the downward cycle of May 1. The continuation of the downward movement […]

Forecast for May 6: Analytical review of currency pairs on the scale of H1: For the euro / dollar pair, the key levels on the H1 scale are: 1.0900, 1.0870, 1.0852, 1.0818, 1.0792, 1.0771 and 1.0728. Here, we are following the development of the downward cycle of May 1. The continuation of the downward movement […]

The pair traded downwards on Tuesday and broke through the level of 1.0874 – a 50% pullback level (presented in a red dashed line) then proceeded downwards testing the level of 1.0840 – a 61.8% pullback level (presented in a red dashed line). Today, the downward movement may continue. Economic calendar news for the dollar […]

On Tuesday, the GBP/USD pair moved down and did not manage to break through the lower fractal at 1.2406 (the red dashed line). Today, the price is likely to continue falling. A series of important news is set for release during the day. Trend analysis (Fig. 1) On Wednesday, the price is expected to move […]

Gold prices are heading sideways in a symmetrical triangle formation, hovering near the short-term simple moving averages (SMAs) and within the squeezed Bollinger bands. The market could remain in consolidation if the RSI keeps moving around 50 and the MACD stays around the zero line with weak momentum in the 4-hour chart. An extension to […]

NZDUSD refused to return below the descending trendline earlier this week and ticked up instead, hinting that the short-term uptrend started from the 11-year low of 0.5468 is not ready to end soon. A decisive close above the 0.6130 hurdle, which is slightly above the 50% Fibonacci retracement level of the bearish wave with a […]

USDJPY appears to be losing footing at the 106.44 level, that being the 50.0% Fibonacci retracement of the up leg from the 41-month low of 101.17 to the 111.71 high, tracing the lower Bollinger band around 106.21. The current negative push is confirmed by the downward slope in the 50-day simple moving average (SMA) as […]

Good afternoon traders! Here is a trading idea for gold. Through the “Price Action” and “Stop Hunting” methods, a pin bar formed in the trend, which left the traders a double top in the D1 time frame. Bullish mood persisted at the US session for the past three days, which put pressure on the trend […]

Markets continue their cautious recovery, supported by news of the gradual withdrawal of a number of countries from restrictive measures on the spread of coronavirus. At the same time, this factor has a limited impact, because it is based on expectations, and not on real changes. US service activity indices continue to drop rapidly. The […]

Signals for the EUR/USD pair: If the pair breaks through at 1.0852, the euro is likely to rise to 1.0882 ant 1.0923. A breakthrough at 1.0811 can lead to a sell-off of the euro at 1.0787 and 1.0755. Signals for the GBP/USD pair: If the pair breaks through at 1.2478, the British pound can grow […]

Crypto Industry News: Most Chinese miners expect a huge influx of new Bitcoin buyers over the next six months. According to a survey conducted on 4 May by a cryptographic services company, 57% of Chinese miners expect a large number of new Bitcoin buyers to join the market in the near future. Over 71% of […]

Crypto Industry News: The average daily transaction value on the Ethereum platform equaled the values in the Bitcoin network. From 12.04, the total value of assets transferred in one day to the Ethereum network began to compete with the results in the Bitcoin network. We are talking about the value of the transaction at the […]

The pair is trading within the weekly control zone 1.0837-1.0819 today. This allows you to consolidate part of the sales, and transfer the remainder to breakeven. To continue the downward movement, it will be necessary to close today’s trading below the level of 1.0819. This will allow you to hold some of the sales and […]

Technical Market Outlook: The EUR/USD bears have manage to push the prices through the short-term support located at the level of 1.0893 and through the trend line support as well. The momentum is now negative, so the odds for another dynamic wave up are decreasing. If the 61% Fibonacci retracement gets clearly violated, then the […]

Technical Market Outlook: The GBP/USD pair has made a local low at the level of 1.2406, just above the 61% Fibonacci retracement located at 1.2397. Any violation of this level will open the road towards the next target for bears seen at 1.2310. There is a short-term ascending trend line close to this level, so […]

To open long positions on GBP/USD, you need: After several unsuccessful attempts to break below the support of 1.2424, the sellers of the pound retreated, forming a large resistance of 1.2478, which they continue to protect now. Buyers of the pound currently need another false breakout to form in the support area of 1.2424, after […]

To open long positions on EUR/USD, you need: Yesterday’s attempt to push the pair at the beginning of the US session following reports on activity in the US non-manufacturing sector was unsuccessful, and the bears quickly returned the market under their control, which is clearly visible on the 5-minute chart. Unfortunately, I expected the bears […]

EUR/USD 1H The picture is now as follows in the hourly time frame. First, the euro/dollar pair overcame a fairly long-term upward trend line, which indicates a change in the downward trend. Secondly, the pair’s quotes are pinned below the support level of 1.0854 and below the support area of 1.0880 – 1.0895 (highlighted with […]

EUR/USD The euro fell by 66 points on Tuesday, showing determination to achieve 1.0595 – support for the embedded line of the price channel of the higher (monthly) timeframe. The price has consolidated under the balance and MACD indicator lines, the Marlin oscillator has penetrated into the negative trend zone. The price also consolidated under […]

GBP/USD The pound was at the Fibonacci level of 138.3% on Monday and Tuesday, under the pressure of a divergence that was not strong on the Marlin oscillator. This is probably a consolidation before a more decisive downward movement. There are two key supports on the daily chart: the MACD line at 1.2345 and the […]

AUD/USD Yesterday, an attempt to push the Australian dollar ended with the currency gaining three points. Now the bears aim to push the aussie to their targets today. The first goal is the MACD line on the daily scope, at around 0.6265. Behind it is an embedded price channel line in the area of 0.6150. […]