The pair traded upward on Wednesday and tested the level of 1.3161 (blue dotted line). Today the price may roll back downward, but much will depend on the news that comes out at 08:30 and 11:30 UTC for the pound, and at 12:30 UT for the dollar. Trend analysis (Fig. 1). The market may roll […]

Trend analysis (Fig. 1). The market may continue to move upward from the level of 1.1865 (closing of yesterday’s daily candle) with the target at the historical resistance level of 1.1912 (blue dotted line). There is a possibility that the price may continue to move upward from this level with the next target at 1.2104 […]

Hourly chart of the GBP/USD pair The technical picture continues to get confusing for the GBP/USD pair. After the quotes broke the upward trend line, everything spoke in favor of the fact that a new downward trend would begin. Following a series of upward corrections, we expected a downward turn around the 1.3100 level yesterday […]

Hourly chart of the EUR/USD pair The EUR/USD pair made no attempt to resume its downward movement during the past trading day. We expected a rebound from the 61.8% or 76.4% Fibonacci levels, but instead the upward movement continued, which ended almost near the July 31 high. Therefore, at this point, we can even conclude […]

Crypto Industry Outlook: The launch of the Ethereum Medalla test network, scheduled for 1pm, did not go as smoothly as expected. While the network was successfully launched and offered a sufficient number of blocks at its supposed time of construction, the participation rate was only 57% – well below the expected 80%. This means that […]

Crypto Industry News: The Russian Federation has banned anonymous contributions to online wallets as part of an action that will affect 10 million users nationwide. Online wallets through services such as Yandex, WebMoney, PayPal and Kiwi are very popular in Russia. These services support approximately 10 million users who use their accounts anonymously, topping them […]

Technical Market Outlook: The EUR/USD pair has moved away from the 61% Fibonacci retracement seen at the level of 1.1822 and might soon test the recent swing high located at 1.1908. The momentum is strong and positive and the market is coming off the oversold conditions, so the local up trend might be continued for […]

Technical Market Outlook: After the bulls had broken through the short-term trend line resistance located around the level of 1.3080, the GBP/USD pair moved higher towards the recent swing high that was made at the level of 1.3169. Any clear violation of this level will lead to another wave up towards the next target seen […]

EUR/GBP dipped below support at 0.9001 to test support near 0.8980 and started to take off again. We need a break above minor resistance at 0.9063 to confirm that a corrective low is in place for the next impulsive leg higher through the former peak at 0.9148 to rally towards 0.9193 and ideally closer to […]

EUR/JPY tested a high of 125.52 and should still see a little more upside into the 125.58 – 125.82 resistance area. From this area, the wave iv correction is expected towards 124.65 and maybe even closer to support at 124.29 before turning higher again towards the next upside targets at 127.255 and ideally closer to […]

EUR/JPY tested a high of 125.52 and should still see a little more upside into the 125.58 – 125.82 resistance area. From this area, the wave iv correction is expected towards 124.65 and maybe even closer to support at 124.29 before turning higher again towards the next upside targets at 127.255 and ideally closer to […]

USDCHF in spite of its recent bounce near a 5½-year low of 0.9055 continues to uphold a negative bearing below the declining simple moving averages (SMAs) and the Ichimoku cloud. That said, looking at the short-term oscillators, they reflect improvements in positive momentum, however, this could prove short lived as the predominant negative SMAs hold […]

Trading Recommendation Entry: 1.3258 Reason for Entry: 50% fibonacci retracement, horizontal overlap support, Take Profit :1.3221 Reason for Take Profit: Horizontal swing high Stop Loss:74.88 Reason for Stop loss: Horizontal swing low The material has been provided by InstaForex Company – www.instaforex.com Related Posts:USD/JPY Downside Could Resume! August 5, 2020 USD/JPY has increased a little […]

EUR/USD The euro reached a July 31 high on Wednesday, which is also a signal level for continued growth in the 1.2040/55 range. But this scenario – an increase in the price after breaking above the signal level, is complicated by the presence of a reversal divergence with the Marlin oscillator – it could turn […]

AUD/USD No matter how hard the Australian dollar tries to break out and grow, it remains constrained within the triple divergence with the Marlin oscillator. The price showed a new high yesterday in the trend from March 19, quickly pulled back from it to support 0.7190 and today, (according to the main scenario) it is […]

USD/JPY The dollar against the yen attacked the support of the embedded price channel line on Wednesday, but was only able to pierce it with the lower shadow (daily). It started Thursday above the trend line, which reinforces the bulls’ positions. The Marlin oscillator slightly moving up. We can assume that the correction from the […]

GBP/USD 1H The GBP/USD pair also resumed its upward movement on August 5 instead of continuing its downward movement. Thus, consolidating the price below the upward trend line, which we all witnessed, turned out to be a false signal. Things happen. At the moment, the upward trend has resumed, and the pair has reached its […]

EUR/USD 1H The euro/dollar pair broke the scenario that we expected on the hourly timeframe of August 5 and also implied that a new downward trend will form. Instead, the bulls became active again and started active purchases of the euro. The pair has not managed to overcome the support area of 1.1702-1.1727, and so […]

Trading Recommendation Entry: 79.522 Reason for Entry: Ascending trendline support, moving average support, 38.2% Fibonacci retracement Take Profit: 79.905 Reason for Take Profit: 61.8% Fibonacci extension Stop Loss: 79.364 Reason for Stop Loss: 61.8% Fibonacci retracement The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Technical Analysis: 05/08/2020 – EURGBP halts… August 5, […]

4-hour timeframe Technical details: Higher linear regression channel: direction – upward. Lower linear regression channel: direction – upward. Moving average (20; smoothed) – upward. CCI: 93.5062 The British pound also resumed its upward movement yesterday, also failing to overcome the moving average line. And although we still believe that both euro currencies are not growing […]

4-hour timeframe Technical details: Higher linear regression channel: direction – upward. Lower linear regression channel: direction – upward. Moving average (20; smoothed) – upward. CCI: 122.8411 Two attempts to overcome the moving average line were not enough for traders of the EUR/USD currency pair. Two rebounds and as a result – the resumption of the […]

The EURUSD pair has been moving-up since the pair has initiated the depicted uptrend line on May 25. On June 11, a major resistance level was formed around 1.1400 which prevented further upside movement for some time and forced the pair to have a downside pause. Recently, the EURUSD demonstrated an ascending wedge around the […]

On March 20, the EURUSD pair has expressed remarkable bullish recovery around the established bottom around 1.0650. Shortly after, a sideway consolidation range was established in the price range extending between 1.0770 – 1.1000. On May 14, evident signs of Bullish rejection as well as a recent ascending bottom have been manifested around the price […]

Since April, the GBPUSD has been moving sideways within the depicted consolidation range extending between (1.2265 – 1.2600)On May 15, transient bearish breakout below 1.2265 (consolidation range lower limit) was demonstrated in the period between May 13 – May 26, denoting some sort of weakness from the ongoing bullish trend. However, immediate bullish rebound has […]

The British pound registered sizeable gains in July, soaring by 6.4% against the US dollar as the world was facing its first spike in infection cases since re-opening plans took effect across the globe. Its sudden impressive performance made markets wonder whether they should adopt a sell-the-rally approach or a buy-the-dip mentality in the year […]