The GER30 index gained considerable traction this week, with the price breaching the downward move that started from the almost one-year high of 12,661 and passing through the Ichimoku cloud. The technical picture suggests a cautiously bullish bias for the short-term as the MACD keeps running above its red signal line and the RSI is flattening […]

USDJPY is holding around the 23.6% Fibonacci retracement level of the downleg from 112.40 to 106.77 near 108.10 and the expected bullish crossover within the 20- and 40-simple moving averages (SMAs) in the daily timeframe. Currently, the price has been developing within a narrow range of 107.05 – 109.00 over the last two months and […]

Since May 17, the previous downside movement within the depicted bearish channel came to a pause allowing the recent sideway consolidation range to be established between 1.2750 – 1.2550 with a prominent key-level around 1.2650. Moreover, signs of bearish rejection have been manifested near 1.2750 (Head & Shoulders reversal pattern with neckline located around 1.2650). […]

Bitcoin has been quite impulsive and non-volatile with the recent bearish move after breaking below $10,000 area with a daily close. Bitcoin and other cryptocurrencies have come under bearish pressure lately. Therefore, Bitcoin’s price slid below $10,000, putting the cryptocurrency’s recent bullishness in a counter trend volatility. Further deterioration of the market sentiment is the […]

Bitcoin has been quite impulsive and non-volatile with the recent bearish move after breaking below $10,000 area with a daily close. Bitcoin and other cryptocurrencies have come under bearish pressure lately. Therefore, Bitcoin’s price slid below $10,000, putting the cryptocurrency’s recent bullishness in a counter trend volatility. Further deterioration of the market sentiment is the […]

Industry news: One of the largest crypto derivatives exchange, BitMEX is currently under investigation by the US’s top regulator, CFTC. The trading platform is majorly known for the crypto derivatives trading feature. . . Trading recommendation: BTC has been trading exactly what I expected yesterday. The down breakout of the 3-day balance is still active […]

Gold is trading second time to break the key pivot at the price of $1.429 and we got good odds that break might happen. The breakout of the key pivot at $1.429 will lead us to potential $1.440-$1.450 level. Trading recommendation: Blue horizontal line – Main pivot resistance ($1.429) Yellow rectangle – Support ($1.414) Blue […]

Nothing special changed since our last analysis except that I got more evidence for further upside on EUR. My advice is to watch for potential buying opportunities due to sellers exhaustion. Upward target Is set at the price of 1.1206. Trading recommendation: Yellow rectangle – Resistance (1.1206) Blue rectangle – Support 1.1144 Bullish divergence on […]

Today’s data on the eurozone indicate a decline in industrial production, which is clear evidence of a looming recession. Given the fact that the eurozone manufacturing sector has been in a bad state before, and is now even worse, this increases the risk of a technical recession, which will clearly make the European Central Bank […]

The S&P 500 and Nasdaq rallied to new all-time highs today. The Dow did not confirm the advance. See what this means in tonight’s Short Term Update as well. https://bit.ly/31Nha9f Learn How the Wave Principle Can Improve Your Trading

GBPNOK rallied up during the previous week from the nine-and-a half-month low of 10.5915, breaking above the downtrend line to pause at the 23.6% Fibonacci retracement level of the downleg move from 11.5127 to 10.5915, of 10.81. The Kijun-sen line has flattened, as well as the momentum indicators of the MACD and the RSI in the […]

Google stock price found strong resistance from the 100-day simple moving average (SMA), coupled with the Ichimoku cloud’s upper boundary and the 50.0% Fibonacci retracement level of the down move from 1288.47 to 1024, of 1157. Price moved into the Ichimoku cloud on July 10 and adopted a sideways motion. The positive directional momentum has dwindled, as the MACD flattens […]

Google stock price found strong resistance from the 100-day simple moving average (SMA), coupled with the Ichimoku cloud’s upper boundary and the 50.0% Fibonacci retracement level of the down move from 1288.47 to 1024, of 1157. Price moved into the Ichimoku cloud on July 10 and adopted a sideways motion. The positive directional momentum has dwindled, as the MACD flattens […]

Facebook stock price is hovering around the one-year high of 205.40 but it is holding well above the 50- and 200-day simple moving averages (SMAs). Momentum indicators are looking to lose steam as the MACD fell beneath the trigger line and the RSI is flattening in the positive territory, suggesting a downside correction. An advance […]

The first estimate of US GDP for Q2 is due at 12:30 GMT on Friday, and may be crucial in shaping the narrative over how deep the Fed will cut rates next week. While a 25 basis points (bp) cut is certain, markets also assign a ~20% chance for a ‘double’ cut of 50bp, which […]

EURCHF has been creating an aggressive downward rally over the last four days, posting a fresh two-year low around 1.0970. Also, the price has broken the long-term sideways channel, indicating sharper negative structure. The bearish move is confirmed by the technical indicators in the daily timeframe. The RSI is holding in the oversold territory and […]

US stocks rose yesterday after the impressive second quarter results from companies. The Dow rose by almost 200 points while the Nasdaq rose by 50 points. Today, the earning season will continue as more companies release their earnings. Some of the companies that will release their earnings today are Boeing, Caterpillar, AT&T, Anthem, Boston Scientific, […]

In the past few decades, the United States has seen the amount of goods that it exports to other countries decline. This is because of the high cost of production, which makes its goods more expensive than those from China. However, the volume of service exports has been on the rise. This has partly been […]

Yesterday, Boris Johnson was announced as the leader of the conservative Tory party. He secured the victor after winning more than 92k votes. His competitor, Jeremy Hunt won more than 46k votes. The former Mayor of London will become the prime minister today after Theresa May resigns. Boris becomes prime minister at a difficult time. […]

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The US dollar index is heading strongly upwards at a new seven-week high of 97.45 after the jump above the 50-day simple moving average (SMAs), posting remarkable gains. However, the stochastic oscillator seems to be overbought as it is trying to turn lower, while the RSI is flattening in the positive territory but remains above […]

GBPCAD’s prevailing downtrend came to a halt on July 16, as price printed a morning star pattern. Potential reversal also is implied from the candles after the pattern, indicating uncertainty to the direction. Concurring we can see that the Tenkan-sen average has moved horizontally. As momentum evaporates the MACD moves above the red trigger line […]

AUDUSD drifted lower after hitting a three-month high of 0.7081, slightly above the 50% Fibonacci level of the steep downleg from 0.7392 to 0.6745. The bearish move has driven the price back into the Ichimoku cloud and below the 20-day simple moving average (SMA), increasing speculation that the softness may stay in place in the […]

Euro area PMIs disappoint, raising bets for a dovish ECB tomorrow US dollar outperforms, without any major catalyst Euro/franc falls below 1.10 – will the SNB intervene soon? Euro slips as disappointing PMIs fuel ECB bets Preliminary PMI data out of France and Germany for June have just been released, and were disappointing overall. While […]

EURJPY is looking strongly bearish in the short-term after plunging towards a new six-month low earlier today, continuing its selling interest from April 15’s peak of 126.80. Prices dropped below the significant 120.75 barrier and the technical indicators are all pointing to further negative momentum. The RSI is heading downwards, approaching the oversold zone, while […]