Entry: 79.337 Reason for Entry: Ascending trendline support, moving average support, 50% Fibonacci retracement Take Profit: 79.734 Reason for Take Profit: Recent graphical swing high Stop Loss: 79.232 Reason for Stop Loss: 61.8% Fibonacci retracement The material has been provided by InstaForex Company – www.instaforex.com Related Posts:USD/JPY Breakout Expected Soon! July 21, 2020 USD/JPY is […]

Hourly chart of the GBP/USD pair The situation has become much clearer with the GBP/USD pair, thanks to the first two days of the week. The pair has already reached two goals after the first buy signal was formed, without changing the direction of movement and without correcting every five minutes. Thus, the pound continues […]

Hourly chart of the GBP/USD pair The situation has become much clearer with the GBP/USD pair, thanks to the first two days of the week. The pair has already reached two goals after the first buy signal was formed, without changing the direction of movement and without correcting every five minutes. Thus, the pound continues […]

Hourly chart of the EUR/USD pair The first two trading days of the week passed in absolutely indistinct trades and movements in different directions. This happens from time to time in the forex market. If the GBP/USD pair spent several days in such a movement, after which it resumed its normal movement, then the euro […]

What happened? The leaders of the European Union were still able to create a fund for the recovery of the eurozone economy following a protracted five-day negotiations. Although the final version of the European Commission’s anti-crisis plan differs from the initial one, the fact itself supported the single currency. The results of the July summit […]

Since April, the GBPUSD pair has been moving sideways within the depicted consolidation range extending between the price levels of 1.2265 and 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 current bullish […]

On March 20, the EURUSD pair has expressed remarkable bullish recovery around the newly-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 […]

The nine-year upward trend of the US dollar is questionable. Now we are witnessing a correction that seeks to break the long-established upward trend of the greenback. There are technical and fundamental rationales for this. The one-month chart of the index indicates that the US currency has once again stalled at the 33-year trendline, which […]

The nine-year upward trend of the US dollar is questionable. Now we are witnessing a correction that seeks to break the long-established upward trend of the greenback. There are technical and fundamental rationales for this. The one-month chart of the index indicates that the US currency has once again stalled at the 33-year trendline, which […]

The euro is moving at constant growth after the EU summit decided the allocation of 750 billion euros to support the economy and an additional 1 trillion euros for the EU budget. Thus, the support for the Eurozone economy is almost 2 times higher than last year – not counting the measures from the ECB. […]

The euro is moving at constant growth after the EU summit decided the allocation of 750 billion euros to support the economy and an additional 1 trillion euros for the EU budget. Thus, the support for the Eurozone economy is almost 2 times higher than last year – not counting the measures from the ECB. […]

USDCAD has broken down and out of the trading range it has been for the last few sessions. As we explained in a previous post, USDCAD was trading mostly sideways and traders would better be patient and see the direction of the break out. Black lines – trading range USDCAD has provided us with a […]

Gold price has broken the short-term resistance and confirmed our bullish view when Gold was trading at $1,800. Gold price has reached today our target of $1,830 we focused on during our previous posts. Blue rectangles – triple top Black downward sloping line – resistance Black upward sloping lines – bullish channel Green rectangle- key […]

Back in July 14th when price was at 0.6940 we turned bullish AUDUSD as price was close to key support and a break out of the trading range would bring price to 0.71. Today we have reached that target area. Our analysis has provided a clear bullish setup and today target has been reached. Trend […]

Early today, oil prices stopped falling and started gaining in value. The rise was caused by investors’ expectations of a more rapid recovery of oil demand. However, the increase was capped by a reimposing of quarantine measures on the territory of some countries. The total number of coronavirus infections in the world continues to grow […]

EUR/USD is poised to re-activate the bullish cycle that was interrupted by Covid-19 in early March after the EU recovery fund finally took shape. Fundamentally and technically, the pair has several reasons to hope for better days, but the euro may need to win the data competition against the dollar during the summer break in order to reach […]

WTI futures are advancing towards a fresh 19-week high of 42.27 today, experiencing a new bullish rally after the neutral mode of the previous sessions. The RSI is extending its upside move towards the overbought territory, while the MACD is strengthening its upside momentum above its trigger and zero line in the 4-hour chart. If […]

Minute operational scale (H4) Last 10 days of the month – an overview of the movement options for our main precious metals Gold & Silver from July 22, 2020. ____________________ Spot Gold The development of the Spot Gold movement from July 22, 2020 will depend on the development and direction of the breakdown of the […]

The euro has still been trapped in a trading range following the news from the EU summit where the state leaders greenlighted the massive stimulus program worth almost €1.8 trillion. This decision was anticipated by most analysts. So, this outcome did not provide risky assets with solid support. Indeed, the introduced stimulus measures were not […]

FXTM Senior Research Analyst, Lukman Otunuga, rounds up all the key market events for this week and pinpoints what traders might be looking out for, including: • Earnings season to influence market sentiment • #PMI’s from Europe under the spotlight • #Gold charges to fresh 9 year high For more Market Analysis read the latest […]

US software giant, Microsoft Corporation, will announce its earnings results for the June quarter on Wednesday after the market close. Like most of its tech peers, Microsoft is expected to report year-on-year growth in revenue, bucking the depressing trend of the broader market where top lines have been negatively impacted by the coronavirus. But with […]

The US 500 cash index reached another five-month high of 3,280.72 earlier today as the index extended its four-month bull run. Prices broke above the 3,230 level and are trading above their moving averages. The bullish picture in the medium-term is further supported by the MACD, which is rising above its trigger line, while the […]

The beginning of the coronavirus pandemic has led to a collapse in oil prices. In spring, the price of Brent dropped to $15 per barrel, as demand for fuel also slumped. China, in turn, took advantage of the situation and bought cheap oil. Oil was stored not only in the government reservoirs, but also in […]

Technical analysis: BTC has been trading upwards most recently but it is still within the Bollinger bands. I would wait for the breakout of the Bollinger band contraction to confirm further direction. Trading recommendation: The material has been provided by InstaForex Company – www.instaforex.com Related Posts:EUR/USD analysis for July 21 2020 – Broken upside… July […]

Technical analysis: EUR has been trading sideways most recently at the price of 1,1436. Anyway, I see potential for further downside movement towards the 1,1407 and 1,1374 Trading recommendation: Watch for selling opportunities due to the breakout of the rising channel in the background and double top chart formation on the 1H time-frame. Downward targets […]