NZDUSD finished Tuesday’s session marginally below the 50-day simple moving average (SMA), while early on Wednesday it managed to pierce the 0.66 round level as well before pulling slightly up. The fast-Stochastics hint that the downfall is overstretched and hence buying pressures could soon take place, but the RSI needs to reverse south and rise back above its 50 neutral […]

EURJPY is resting below the 100-day simple moving average (SMA) at 121.36 following the last week’s rally. This is slightly above the 121.30 level, which is the 38.2% Fibo of the down leg from the 123.35 high to a recently produced seven-month low of 120.04. The pair then found support again between 120.80, which is […]

4-hour timeframe The amplitude of the last 5 days (high-low): 64p – 96p – 81p – 84p – 170p. Average amplitude for the last 5 days: 99p (77p). The collapse of the British pound sterling ended last night. Since then, the pound-dollar pair has been moving sideways with low volatility. That is, the upward correction […]

Crypto Industry News: The US Department of Defense (DoD) aims to implement Blockchain’s cybersecurity solution as part of its digital modernization strategy. DoD has published plans for Blockchain technology in its four-year plan entitled “Digital DoD modernization strategy: Strategic plan for information management FY19-23.” According to the report, the Department’s research branch, the Advanced Defense […]

Crypto Industry News: Fortaleza, the main city of Northeast Brazil, will start to accept Bitcoin as a form of payment for bus tickets until the end of 2019. Local transport services have announced an initiative to enable citizens to pay for bus tickets with credit and debit cards, as well as Bitcoin and other cryptocurrencies. […]

Technical Market Overview: After three tests of the support at the level of 1.1112, the EUR/USD bulls decided to bounce a little bit higher, possibly towards the upper range border at the level of 1.1181. The momentum is positive and there are no signs of a trend reversal. Even if the bulls will manage to […]

4-hour timeframe The amplitude of the last 5 days (high-low): 64p – 29p – 86p – 39p – 38p. Average amplitude for the last 5 days: 51p (47p). Barely, with grief in half, on Tuesday, July 30, the EUR/USD pair began an upward correction. At the beginning of this week, there were no important macroeconomic […]

The XM forex seminar series continues in Latin America. After having hosted over 10 seminars in several countries since this January, further educational events will follow on the continent soon, reaching Colombia and Chile. The next two seminar stops will be Bogotá on 14th September and Santiago de Chile on 28th September, where XM offers […]

Dollar may gain briefly if Fed only cuts rates by 25bp today Stocks feel the heat as Trump cranks up the trade rhetoric Flurry of key data due out of the Eurozone, US, and Canada Fed meeting: One cut at a time The main event for today will be the FOMC rate decision at 18:00 […]

AUDUSD bears got exhausted near the key 0.6864 support level early on Wednesday, with the fast-Stochastics pointing to a price reversal as the green %K line has already crossed above the red %D line in the oversold territory and seem to be turning higher. The fact that the price has been repeatedly touching the lower Bollinger band in the past […]

Back in June 24, the EURUSD looked overbought around 1.1400 facing a confluence of supply levels. Thus, a bearish movement was initiated towards 1.1275 followed by a deeper bearish decline towards 1.1235 (the lower limit of the newly-established bullish channel) which failed to provide enough bullish support for the EUR/USD. In the period between 8 […]

The eurozone data released in the morning did not make any significant changes in the market situation but pointed to the necessary changes in the course of monetary policy. Despite the fact that German consumer sentiment is likely to worsen in August of this year, and this will happen against the backdrop of a slowdown […]

To open long positions on GBP/USD, you need: Buyers of the pound are in no hurry to return to the market, and the current small growth is associated with profit-taking on short positions after a major drop formed at the end of last week. Buyers formed intermediate support in the area of 1.2156, and all […]

To open long positions on EURUSD, you need: The absence of important fundamental statistics, apart from the indicator of consumer confidence, which remained at a negative level in the eurozone, led to the preservation of low market volatility, and inflation data in Germany returned the pair to a major resistance of 1.1151, which I drew […]

Today, we updated a recent Chart of the Day on the British Pound which has moved an astonishing 3 handles in three days. You have to see this chart.
https://bit.ly/2YfCoyx

Learn How the Wave Principle Can Improve Your Trading

Market opinions are a dime a dozen. Investors would do well to ignore most of them. Here’s why … Subscribe to Elliott Wave International’s YouTube Channel: http://bit.ly/EWI-YouTube Or, follow Elliott Wave International around the web: –Facebook: http://bit.ly/EWI-Facebook –Twitter: http://bit.ly/EWI-Twitter –LinkedIn: http://bit.ly/EWI-LinkedIn –Website: http://bit.ly/ElliottWaveInternational Learn How the Wave Principle Can Improve Your Trading

Learn How the Wave Principle Can Improve Your Trading

All of Wall Street will be watching Apple’s earnings report after the US market closes on Tuesday. Besides the headline numbers, investors will focus on the guidance by the firm’s management about the next quarter, and especially on their expectations for the new iPhone. As for the stock, it has gained substantially this year, but […]

The USDTRY recorded multiple red days after a move off the 5.7350 resistance, which was the 23.6% Fibonacci retracement of the down leg from a seven-and-a-half-month high of 6.2432 to a low of 5.5782. The selling interest brought the price to sit on the 200-day simple moving average (SMA) slightly past the three-month low of […]

The Bank of England will announce its latest policy decision on Thursday at 11:00 GMT and will also publish its quarterly inflation report, followed by a press conference with Governor Mark Carney at 11:30 GMT. Markets are anticipating the Bank to strike a more dovish tone but whether this will involve signalling a rate cut […]

The GBPAUD pair in the last weeks bounced up from the 1.7610 support area above the 1.7870 resistance, which is also the 23.6% Fibo of the descent from the almost three year high of 1.8880 to the low of 1.7630. Price tried to sustain an aggressive move down passed the recent six-month low of 1.7630 […]

The Federal Reserve is virtually certain to cut rates on Wednesday at 18:00 GMT – the question is how deep it will slash. A 50 basis points (bp) cut seems excessive given recent Fed commentary, so a 25bp move is probably on the cards instead. Since markets still price in a ~20% chance for a […]

Japan is the third-biggest economy in the world following the United States and China. The country has a GDP of almost $5 trillion and a population of more than 126 million people. Japan is known for a number of things such as its aging population, classic companies like Toyota, Mitsubishi, and Nissan, and its lost […]

Earlier today, the Bank of Japan (BOJ) delivered its interest rates decision. As expected, the bank left interest rates unchanged and committed to doing more if the world economy led to major disruptions in the Japanese economy. The bank said that interest rates will likely remain unchanged “at least through spring of 2020”. It will […]

In the past few weeks, sterling has become one of the worst-performing currencies in the developed world. The currency is trading at the lowest level it has been since March 2017 when the parliament triggered Article 50. The reason for the declines is that investors are pricing-in a situation where the United Kingdom will exit […]