Trading Recommendation Entry: 0.64532 Reason for Entry: descending trendline resistance, 61.8% Fibonacci retracement Take Profit : 0.63729 Reason for Take Profit: Graphical swing low Stop Loss: 0.64974 Reason for Stop loss: 61.8% Fibonacci retracement The material has been provided by InstaForex Company – www.instaforex.com

USD/JPY The yen overcame the support of the enclosed price channel line on the daily chart, it lost 15 points on Tuesday. Now the pair has already dropped 25 points today in the Asian session (with the Japanese market closed due to a national holiday). The price is located directly on the 9th time line […]

The German constitutional court today ruled against the euro. Pessimistic forecasts were justified, however, not in the worst execution. On the one hand, the German court said that the quantitative easing program partially violates the Basic Law of Germany. On the other hand, the judges allowed the European Central Bank to argue its decision within […]

Minuette operational scale (H4) Again, the battle for metal, now for May – an overview of options for the development of the Gold and Silver movement in May 2020. ____________________ Spot Silver The development of the Spot Silver movement in May 2020 will also be determined by the development and direction of the breakdown of […]

The euro collapsed against the US dollar after the decision of the German Constitutional Court, which approved the bond-buying program launched five years ago by the European Central Bank. This suggests that the ECB now has far fewer obstacles to expanding its asset purchase program, which will help preserve the integrity of the Eurozone and […]

Few weeks ago, the EURUSD pair has expressed significant 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 (Fibonacci Level 50%). Key Supply-Levels in confluence with significant Fibonacci levels are located around 1.1075 […]

Recently, the GBPUSD has reached new LOW price levels around 1.1450, slightly below the solid Previous Weekly Low (1.1650) achieved in September 2016. That’s when the pair looked very OVERSOLD around the price levels of 1.1450 where a double-bottom reversal pattern was demonstrated. Bullish breakout above 1.1900 invalidated the bearish scenario temporarily & enabled a […]

The GER 30 index (Cash) has been making higher highs and higher lows since the mid of March when it touched the new trough of 7,950, pausing the previous downtrend in the short-term. The technical indicators continue to send weak positive signals, suggesting either a pause in the continuation of the bullish bias may be turning close to an end. […]

Euro continues to struggle as the inflation rate in the eurozone is recorded at -2.8% which is much worse than the forecast. The eurozone risks deflation even with huge injections of liquidity. This leads the euro to move on a downward trend, although this is hardly enough for such an outcome. You can buy euro […]

EURCHF has pushed back below the converged simple moving averages (SMAs), erasing most of the recent gains from the multi-year low of 1.0504, which failed to exceed the 1.0610 obstacle. The pair, currently capped by the 100-period SMA at 1.0538, is trailing the lower Bollinger band as it inches towards the strengthened bottom in the […]

News: Speaking at the annual Berkshire Hathaway shareholders meeting, Buffett said that $137 billion is not a large cash pile if bad things start to pile up in the market. Berkshire has major stakes in leading conglomerates like Coca Cola and Kraft Heinz. If the market begins to go in the opposite direction than analysts […]

As the US earnings season continues in earnest amid the virus shutdowns, one of this week’s highlights will be the results from the Walt Disney Company. Disney will unveil its second quarter earnings on Tuesday after the market close and is expected to report a growth in revenue. But with business activity not too significantly […]

News: Inflation in the wealthiest countries has collapsed at the fastest pace since the financial crisis, as the coronavirus outbreak sinks the world into the deepest recession for almost a century. The Organisation for Economic Cooperation and Development(OECD) said annual growth in the price of goods and services across the group of 37 advanced countries […]

EUR / USD On May 4, the EUR/USD pair lost about 65 basis points and, thus, began to build a new downward wave. It underwent certain changes since such a development of events did not fit into the previous wave marking. There is no pronounced trend at the moment, so I believe that the instrument […]

Corona virus summary: United Kingdom Asked by the British parliament’s health and social care committee to reflect on what he would have done differently,Patrick Vallance said: “I’d be amazed, if when we look back, we don’t think: yep we could have done something differently there.” In the early phases, I think if we’d managed to […]

As a result, it is gainful to sell below this price of 1.0907 with targets at 1.0727 and 1.0636. Moreover, the bearish trend is still expected for the upcoming days as long as the price is below the level of 1.1020. Daily Technical level: Major resistance: 1.1020 Minor resistance: 1.0907 Intraday pivot point: 1.0839 Minor […]

Good afternoon traders! Here is a trading idea for Silver. Unlike gold, silver is experiencing a much harder global financial crisis, and is trading in the pullback levels of Fibo relative to the most powerful March drop: To date, a rather interesting level of resistance and support has formed at the 14.5 quote, which is […]

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USDCAD found strong resistance near 1,4150 and reversed south again, retaining its neutral structure in the short-term picture.   Currently, the price is eating a portion of its bold gains it earned in the previous days and the RSI and the stochastics on the four-hour chart are pointing to a negative session as they are decelerating. The 23.6% Fibonacci retracement level of the […]

USDCAD found strong resistance near 1,4150 and reversed south again, retaining its neutral structure in the short-term picture.   Currently, the price is eating a portion of its bold gains it earned in the previous days and the RSI and the stochastics on the four-hour chart are pointing to a negative session as they are decelerating. The 23.6% Fibonacci retracement level of the […]

EURUSD: The euro is retreating under increasing pressure from the current economic recession. At present, forecasts for a decline in EU countries are growing, and fears of large credit defaults are growing. The euro canceled growth at 1.0850. Thus, returns to the range. You may consider purchases after breaking through 1.1020, upwards. Sell after breaking […]

EURUSD: The euro is retreating under increasing pressure from the current economic recession. At present, forecasts for a decline in EU countries are growing, and fears of large credit defaults are growing. The euro canceled growth at 1.0850. Thus, returns to the range. You may consider purchases after breaking through 1.1020, upwards. Sell after breaking […]

Today we take a look at USDCAD and see how we are going to play the bounce! We use Fibonacci retracements, extensions, support/resistance, momentum and trend lines to identify trading opportunities in this exciting pair today! The material has been provided by InstaForex Company – www.instaforex.com

Today we take a look at USDCAD and see how we are going to play the bounce! We use Fibonacci retracements, extensions, support/resistance, momentum and trend lines to identify trading opportunities in this exciting pair today! The material has been provided by InstaForex Company – www.instaforex.com

USD/JPY is trading in the green according to the H4 chart, but the pressure is still high as the pair is located below some strong upside obstacles. The pair has signaled an oversold situation in the short term, a USDX’s further increase could bring a reversal soon. The dollar has taken the lead as the […]