To be honest, yesterday was very revealing in many ways. So, we clearly saw that the market is clearly aimed at a correction and a serious strengthening of the dollar. After all, even good European statistics, the maximum that could do is only temporarily suspend the strengthening of this very dollar. In addition, investors clearly […]

Stocks gain altitude on slowing contagion and encouraging data Most currencies trade in wide ranges, but go nowhere Overall, market focus remains on Congress, where little progress is apparently being made Nasdaq hits new records as tech keeps the dream alive Positive sentiment dominated financial markets at the onset of the new week, with global […]

GBPUSD hit a snag after its recent appreciation reached a near five-month high of 1.3169, slightly below a significant resistance at the 1.3200 level. The minor retreat in price is mirrored in the reduced bullish slopes of the Ichimoku lines and the bearish orientation of the stochastic oscillator around the 80 level. That said, the […]

EURJPY had another constructive week thanks to the ascending trendline that provided strong protection against downside pressures, helping the price to rally towards a 15-month high of 125.19 on Friday. Despite that, the pair could not successfully claim the 125.00 mark as the 200-period simple moving average (SMA) in the weekly chart is blocking the […]

After a long upward move, the EUR/USD currency pair still managed to enter a correction stage, which led to a decline in the European currency rate to the 1.1705/1.1715 region. We expected such a development in the previous article, referring to economic and technical factors. If we compare the trajectory of the price with the […]

Trading recommendations for the EUR / USD pair on August 4 Analysis of transactions Sell transactions opened from the level of 1.1763 brought about 55 points of profit, after which the euro rebounded, continuing the downward move with renewed vigor. Strong data on manufacturing activity in the eurozone led to a slight increase on the […]

Trend analysis (Fig. 1). The market may begin to move downward from the level of 1.3077 (closing of yesterday’s daily candle) with the target of 1.3037 – a 14.6% pullback level (red dotted line). From this level, the downward trend may continue with the next target of 1.2953 – a 23.6% pullback level (red dotted […]

The US dollar continued the correction on Monday that started last Friday, which is really long overdue on the wave of its significant technical oversold, which was largely supported by the growth in demand for risky assets during the period of corporate reporting of companies. On Monday, a different picture was already noted on the […]

Trend analysis (Fig. 1). The market may continue to move downward from the level of 1.1765 (closing of yesterday’s daily candle) with the target of 1.1714 – a 14.6% pullback level (red dotted line). From this level, the price may continue to move downward with the next target of 1.1656 – a 23.6% pullback level […]

Fed officials argue that the US economy needs a lot of stimulus in order to weather the current recession. Calls for more government intervention came after US lawmakers and the White House resumed talks on a new government aid package, including a possible extension of unemployment benefits that expired on Friday. “It would be quite […]

To open long positions on GBP/USD, you need: It was not possible to achieve a clear signal to enter the market yesterday afternoon, as there were entry points for both sellers and buyers. And if the first sale deal, which I analyzed in detail during the European session, worked out as a great advantage, then […]

Forecast for August 4: Analytical overview of currency pairs on the H1 scale: The key levels for the euro / dollar pair on the H1 scale are: 1.1911, 1.1842, 1.1805, 1.1733, 1.1678, 1.1613 and 1.1568. Here, the price is forming a potential for the downside movement from July 31st. The continuation of the downward movement […]

To open long positions on EUR/USD, you need: Both sellers and buyers of the European currency achieved their goals yesterday, and in general, the trading day brought a fairly good profit, as all the signals worked in a positive way. In my forecast for the second half of the day, I analyzed the deal at […]

Good day traders! A trading idea for Litecoin. On August 2, a strong short impulse occurred, during which Litecoin dropped in value by $ 10 at once. After that, a two-day growth was observed, in the area of 50% Fibonacci. Trade short positions to continue the impulse, targeting a breakout of the 51.7 low, relative […]

Crypto Industry Outlook: Another YouTube channel dedicated to cryptocurrencies appears to have violated the platform’s community rules. According to a tweet posted from members of the cryptocurrency community and brothers Aaron and Austin Arnold, their Altcoin Daily channel with 214,000 subscribers was shut down by YouTube for “encouraging illegal activities.” “We are a news / […]

Crypto Industry Outlook: Americans are relinquishing the safety of the dollar in favor of more speculative assets like stocks, gold, and Bitcoin. Due to the COVID-19 situation, the personal savings rate in the US is at a historically high level. The profitability offered by financial institutions on savings accounts, however, is close to zero. Meanwhile, […]

Technical Market Outlook: After the EUR/USD pair has returned then below 61% Fibonacci retracement on weekly time frame chart (seen at the level of 1.1822) it keeps trading inside of the ascending main channel. The bears had made a new local low located at the level of 1.1696 during the recent pull-back, but the price […]

Technical Market Outlook: The up trend on GBP/USD pair is developing despite some local pull-backs. The recent one has hit the level of 1.3017, but the bulls has managed to lift the price back up towards the level of 1.3070. The next target for bulls is seen at the level of 1.3199 and the nearest […]

Hourly chart of the GBP/USD pair The technical picture remains more clear and unambiguous for the GBP/USD pair. Sellers tried to gain a foothold below the upward trend line yesterday, which, we will remind, is one of the most important technical constructions. However, the attempt to overcome this line was unsuccessful (circled in red). Thus, […]

Hourly chart of the EUR/USD pair At first, the EUR/USD currency pair continued to go down on Monday, but it turned up towards the evening and began a round of correction against a new downward trend. We remind you that at the moment, we believe that a downward trend has developed for the pair, as […]

GBP/JPY should continue rising to resistance at 140.35 to complete blue wave iii and set a stage for a temporary correction towards 137.74 before entering a new impulsive rally higher towards 144.29 on the way towards 148.32. Support is currently seen at 138.34 and again at 137.74. R3: 140.35 R2: 139.80 R1: 139.20 Pivot: 138.75 […]

EUR/JPY is still expected to move higher towards resistance in the 125.58 – 125.82 area, from where a lager correction towards 123.79 is possible. We are not looking for a major top, but just a temporary top before the next impulsive rally higher towards 127.23 and ideally closer to 129.26. Support is now seen in […]

On the 4 hour chart, we can see that GBP/USD continues to rise as the bullish momentum is strong. The price is moving above the Moving Average periods (30). There is a possibility that Cable will reach the 1.3112 level as the first target and the 1.3169 level as the second target. This scenario is […]

EUR/GBP is moving towards 0.8980. If the momentum is strong, there is possibility for this pair to reach the 0.8937 level. This movement has been already confirmed by the price moving below the 30-period Moving Average and is already making a higher low and a lower low too. Please pay attention to the divergence between […]

New Zealand’s jobless rate is expected to have surged to a 7-year high in the June quarter as employers struggle to maintain staff numbers in the face of the global pandemic. The data, due on Wednesday (Tuesday, 22:45 GMT), might not pose an obvious threat to the local dollar’s 4-month-long uptrend versus its US rival […]