“Eurozone factories reported a very positive start to the third quarter, with production growing at the fastest rate for over two years, fuelled by an encouraging surge in demand. Growth of new orders in fact outpaced production, hinting strongly that August should see further output gains. The order book improvement has also helped restore business […]

US 500 index (Cash) is encountering strong resistance around the recent five-month high of 3,292.24. The price appears to have somewhat stalled for now, something also suggested by the flattened Ichimoku lines. The short-term oscillators further reflect the pause in positive momentum. The MACD, in the positive region, continues to float just below its horizontal […]

The US dollar is falling again amid growing fears of a slowdown in the US economic recovery following the coronavirus pandemic. Despite the high current account deficit, real interest rates in the US are falling. Minori Uchida, chief currency analyst at MUFG Bank, noted that there had not been such a situation in the US […]

July has now ended. If we analyze all the trades that occurred that month, we will see that more than 700 points was taken during an upward move, in the structure of which there was no correction, and the slope of the chart reached 84 degrees. In addition, the yearly high which is the price […]

We buy dollars and euros with pullbacks to the average day (three colors on the chart). It is clearly seen that the US market is targeting the highs of the year and will not retreat until it reaches it. Selling from the highs of the year will be considered. The dollar’s decline helps the market […]

The Reserve Bank of Australia will hold its next meeting tomorrow, at which it will determine the future prospects for monetary policy. Before this event, the Australian dollar is gradually losing ground, paired with the dollar from multi-month highs. The “retreat” began on Friday right after the Australian currency strengthened to the level of 0.7228. […]

To open long positions on GBPUSD, you need: The morning data on manufacturing activity in the UK did not allow buyers of the pound to return the market under their control, even despite the fact that the data came out generally quite good. An unsuccessful attempt to break above 1.3100 formed a good entry point […]

To open long positions on EURUSD, you need: In my morning forecast, I recommended paying attention to the level of 1.1777 and opening short positions from it when forming a false breakout, which happened. Let’s take a closer look at the entry point. If you look at the 5-minute chart, you will see how the […]

AUD/USD is trading at 0.7108 level and it seems heavily overbought in the short term after the failure to touch, retest, the uptrend line. The pair has managed to increase after it escaped from the upward channel, but now it could develop a downside movement if it drops again below the 0.7096 level. We have […]

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USDJPY hit a bottom at 104.18 and bounced aggressively towards the 106.00 area in an attempt to return to its previous range. The price, however, could not sustain gains above that level, retracing back to the 105.00 territory instead. The 38.2% Fibonacci of the 108.15-104.18 downleg at 105.70 could not successfully block the way to […]

The single European currency continued to grow non-stop for almost a month and a half. And now, apparently, this process was put to an end. And if this growth was largely due to the relative weakness of US macroeconomic statistics, now everything has somewhat changed. It turns out that the situation in Europe is a […]

The daily increase of COVID-19 cases in the United States, Brazil and India have slowed down recently, perhaps due to the weekend since in the past, recessions were observed every Sunday. Nevertheless, the second wave of the pandemic is still at its peak, with many new countries affected by a surge in the number of […]

Trend analysis. This week, the price from the level of 1.3081 (the close of the last weekly candle) will move downward in order to reach the pullback level of 14.6% – 1.2911 (red dotted line). If this line is reached, it is possible to continue working downwards with the target at 1.2751 – the pullback […]

Trend analysis. This week, the price from the level of 1.1778 (closing of the last weekly candle) may continue to decline with the target at 1.1711 – the support line (black thick line). Upon reaching this line, it is possible to work downward with the target at 1.1607 – the pullback level of 23.6% (red […]

Forecast for August 3: 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 […]

EUR/USD – 1H. Hello, traders! On July 31, the EUR/USD pair performed a reversal in favor of the US currency and began the process of falling in the direction of the first upward trend line. There is also a second upward trend line, however, it is located far away and it is not visible on […]

GBP/USD – 1H. Hello, traders! On the hourly chart, the quotes of the GBP/USD pair continue to grow within the upward trend corridor, but on Friday, a reversal was made in favor of the US currency and the process of falling towards the lower border of the corridor began. Thus, the current mood of traders […]

The macroeconomic reports released last Friday failed to support the European currency, as a result of which, the euro lost by more than 130 points against the US dollar. However, such a huge downward correction does not pose a real threat to the bull market yet, which began in the middle of last month. The […]

Dollar rebounds on profit-taking and short-covering despite Fitch downgrade – is this a dead cat? Stocks remain near highs as tech giants fly, next big move depends on Congress Australia tightens lockdown in Victoria, telegraphing dovish shift by RBA overnight Dollar shows signs of life, but is it just flows? The world’s reserve currency staged […]

EURUSD retreated abruptly from the recent multi-year high of 1.1908 with sellers attempting to cement further negative moves. This can be viewed in the pause of the blue Kijun-sen line and the latest weakening of the short-term oscillators. Despite the stochastic oscillator having turned bearish and the current stalling in the MACD and the RSI, […]

Gold inched to a fresh record high of 1,989 on Monday before pulling slightly back as rising infection cases and a turbulent budget debate in the US shifted more funds towards safe havens. The yellow metal has been in the green over the past eight weeks, building its two-year-old uptrend above its simple moving averages […]

The dollar index slightly recovered in the Asian session on Monday, continuing Friday’s trends. The indicator reached 93.625 – a multi-day high, which it was at last week, on July 30. However, the first impulse wave has subsided at this level – the index has retreated again and is currently drifting around the middle of […]

Trend analysis. In August, the price from the level of 1.3081 (the close of the July monthly candlestick) may decline with the first target at 1.2946 – the support line (red bold line). If this level is broken down, we will continue to the next downside target at 1.2753 – a pullback level of 23.6% […]

Trend analysis. In August, a pullback movement downward is possible with the first target at 1.1711 – the support line (black bold line). If this line is broken down, we will continue to the next downside target at 1.1608 – the pullback level of 23.6% (red dotted line). Fig. 1 (monthly chart). Indicator analysis: – […]