USDCAD gathered strong bullish momentum on Wednesday and is currently trading near the key 1.3340 resistance level, which the bulls could not successfully overcome for more than three months now. Technically there is more bullish fuel in store as the RSI has left the neutral territory and adopted an upward direction above 50, while the MACD is […]

USDCAD gathered strong bullish momentum on Wednesday and is currently trading near the key 1.3340 resistance level, which the bulls could not successfully overcome for more than three months now. Technically there is more bullish fuel in store as the RSI has left the neutral territory and adopted an upward direction above 50, while the MACD is […]

EWI continues to shout from the rooftop that news and events do not determine the stock market’s trend. Yet, many investors continue to believe so. Here’s what the price pattern of the stock market would look like if investors actually reacted to the day’s news rationally … Subscribe to Elliott Wave International’s YouTube Channel: http://bit.ly/EWI-YouTube […]

EWI continues to shout from the rooftop that news and events do not determine the stock market’s trend. Yet, many investors continue to believe so. Here’s what the price pattern of the stock market would look like if investors actually reacted to the day’s news rationally … Subscribe to Elliott Wave International’s YouTube Channel: http://bit.ly/EWI-YouTube […]

UK stock index collapsed aggressively from the two-month high of 7,440 right through the simple moving averages (SMAs), erasing all gains that commenced on August 15. The MACD has distanced itself in the negative region below its red trigger line, reflecting the negative sentiment in the market. Yet, the upward slope in the RSI, which […]

The US government is announcing nonfarm payrolls this Friday at 12:30 GMT and earlier signs of a manufacturing recession have raised concerns that a miss in forecasts is possible. The dollar, though, is likely to hold firm as weakness in other major markets bodes well for its relative performance. In September, the US economy is said to […]

Risk Warning: 69.10% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]

Risk Warning: 69.10% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]

NZDUSD bulls reemerged, overtaking the resistance of 0.6268 and the 50-period simple moving average (SMA) on the four-hour chart. However, the rally which commenced on October 1 off a multi-year low of 0.6200 soon came to a halt at the lower boundary of the Ichimoku cloud presently at 0.6298. The short-term oscillators suggest that positive […]

Risk Warning: 69.10% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]

Risk aversion deepens; All eyes on the ISM non-manufacturing PMI today Speculation for Fed rate cuts no longer supports stocks – paradigm shift? Sterling yawns as UK releases Brexit proposals Equities dive, yen roars back as investors grapple with recession worries Wall Street recorded substantial losses on Wednesday, with the S&P 500 (-1.8%) falling sharply […]

USDJPY could not surpass the 50% Fibonacci of the downleg from 112.39 to 104.44 this week and instead corrected lower to meet support in the crossroads of the 107.00 mark and the 50-day simple moving average (SMA). The momentum indicators are providing discouraging signals for short-term trading, as the RSI has already pierced its 50 neutral […]

FXTM Research Analyst, Lukman Otunuga, rounds up all the key market events for this week and pinpoints what traders might look out for ahead, including: • World Trade Organisation (#WTO) cuts world trade forecast • US manufacturing tumbles to 10 year low • #USjobsreport in focus • #Gold set to benefit from risk aversion For […]

To open long positions on EURUSD, you need: The absence of important fundamental statistics allowed the sellers of the euro to break below the level of 1.0930, however, the bulls returned to the market from the support of 1.0905, from which I recommended buying in the morning review. At the moment, the more important task […]

Overtime; The GBP/USD pair continues moving in a bullish trend from the support level of 1.2204. Currently, the price is in a bullish channel. In the short term, further close above the high end may cause a rally towards 1.2291. Nonetheless, the weekly resistance level and zone should be considered. The resistance is seen at […]

Technical outlook: The EURUSD pair bounced off yesterday after printing a low at 1.0879, just below 1.0880 levels as expected. The single currency pair is trading around 1.0917 levels at this point in writing, after having tested the backside of its resistance trend line at 1.0903 which turned into support. A major low might have […]

GBPCHF buyers have reversed the price off the 1.2200 support of the September 12 swing low, after denying sellers a further pullback past the 1.2169 level, which is the 38.2% Fibonacci retracement of the up leg from 1.1671 to 1.2476. Despite the completed bearish crosses of the simple moving averages (SMAs), the price action has […]

GBPAUD buyers yesterday retook control at the 1.8135 level, which is the 38.2% Fibonacci retracement of the up leg from 1.7560 to 1.8492, reversing the pair back above the 200-day simple moving average (SMA). The two-month rally seems to still be intact, backed by the SMAs nearing bullish crossovers, which reflects a strengthening positive outlook. […]

Britain’s services PMI for September is due on Thursday at 08:30 GMT. Forecasts point to a decline in the index, which could raise the odds for a Bank of England (BoE) rate cut in the near term. Of course, politics will overshadow economics in driving the pound, so more attention may fall on Boris Johnson’s […]

Risk Warning: 69.10% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]

Risk Warning: 69.10% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]

EURJPY seller’s second try only just conquered the 117.43 support, which is the 61.8% Fibonacci retracement of the up leg from 115.85 to 120.00. The pair adopted a brief side move after a sell-off bounced off that level. The flattened 200-period simple moving average (SMA) implies a stall in directional momentum. That said, the unfolding […]

The pound-dollar pair came close to the boundaries of the 21st figure yesterday, stopping only at the level of 1,2204. Only extremely weak data on the growth of the ISM manufacturing index in the US were able to extinguish the downward impulse: the US currency weakened throughout the market, and the GBP/USD pair was no […]

Technical Market Overview: The GBP/USD pair has broken down from the narrow range between the levels of 1.2342 – 1.2282 and made a fresh new low at the level of 1.2206, just 10 pips above the 61% Fibonacci retracement located at the level of 1.2196. The technical support at the level of 1.2231 had been […]

Technical Market Overview: After making a new local low at the level of 1.0879 the EUR/USD pair printed a promising Bullish Engulfing candlestick pattern. The bounce has reached the level of 1.0942, but the short-term and long-term trend is still down, but due to the extremely oversold market conditions. The bulls still have a chance […]