US 30 stock index (Cash) is preserving its recent positive sentiment despite a pullback from the 27,178 level. The climb in the index is aided by the upward sloping simple moving averages (SMAs). Furthermore, the intact positive charge of the Ichimoku lines and the distancing of the red Tenkan-sen above the blue Kinjun-sen line may […]

Previously opened purchases must be kept. The first goal for growth is to renew weekly and monthly highs. It is important to understand that a reversal model will only form in case closing of trades occur below the WCZ 1/2 0.6949-0.6940. Until this happens, buying is the best strategy. Yesterday’s decline made it possible for […]

Trading Recommendation Entry: 0.94752 Reason for Entry: Market entry Take Profit: 0.95333 Reason for Take Profit: Recent swing high, 50% Fibonacci extension Stop Loss: 0.94364 Reason for Stop Loss: Recent swing low, ascending trendline support The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Short-term technical analysis of EURUSD for July 16, 2020 […]

GBP/JPY has traded sideways for the last week, but this sideways correction is now coming to an end. We do expect a final dip closer to 133.65 to complete this correction and set the stage for the next impulsive rally through resistance at 135.92 and to 139.67. Only a direct break above minor resistance at […]

We are looking for a second dip in the correction from 122.50. Previously we expected a corrective dip to 121.34. However, we will likely only see the second dip. The pair may sink just below 121.78 before the next impulsive rally to 124.43 and above occurs. A break above 122.50 triggers for the next impulsive […]

On the 4 hour chart, we can see that the EUR/USD pair is trying to grow. This pair has already bounced off and prepared for a rise. It was confirmed by the William %R at the oversold level. The price is moving above the Exponential Moving Average Period 50. From this technical point of view […]

EUR/USD The euro has strengthened its reversal signs over the past day. Having decreased by 30 points, the price points indicate the upcoming divergence with the Marlin oscillator with great emphasis. The signal line of the oscillator is about to move into the zone of negative values. The declining mood will become clear after the […]

AUD/USD The Australian dollar fell by 36 points on Thursday, but it still has the opportunity to form a triple divergence with the Marlin oscillator on the daily chart. The signal line of the oscillator remained in the zone of positive values, growth to 0.7080 may resume. Perhaps, the quote falling below the level of […]

USD/JPY We wrote in the last review: “The yen attacked the MACD line from top to bottom yesterday in the exact pattern of July 10 (Friday). Accordingly, history can repeat itself with growth on the model of July 13 (Monday).” The price chose this scenario. Now the growing sentiment increased. The price intends to reach […]

GBP/USD 1H The GBP/USD currency pair, unlike the EUR/USD pair, has been trading in different directions for more than a week. The “swing” continued on Thursday, July 16. First, buyers tried to bring the pair back to the resistance area of 1.2634-1.2660, then they failed again and again letting the pound fall into the power […]

EUR/USD 1H The euro/dollar pair turned around the critical Kijun-sen line on the hourly timeframe on July 16, performed an upward movement to the first resistance level of 1.1432, rebounded from it and returned to the Kijun-sen line, which, at the time of writing, it failed to overcome again. Thus, trading the pair was quite […]

Hourly chart of the GBP/USD pair Everything is much more complicated with the GBP/USD currency pair than with the EUR/USD pair. Macroeconomic reports released in the UK this week (inflation, GDP, industrial production, wages, unemployment) can generally be regarded as weak. However, the pound sterling clearly does not show a special desire and intention to […]

Hourly chart of the EUR/USD pair Yesterday was very difficult in terms of trading. The European Central Bank meeting is an extremely important event for the currency market. Volatility increases and sharp changes in the direction of movement are possible when results are announced, summary of the press conference are released or even following the […]

4-hour timeframe Technical details: Higher linear regression channel: direction – upward. Lower linear regression channel: direction – upward. Moving average (20; smoothed) – sideways. CCI: -54.4076 The GBP/USD currency pair showed very weak dynamics at the trading on July 16. According to the data on the average volatility of the pair, this indicator has been […]

4-hour timeframe Technical details: Higher linear regression channel: direction – upward. Lower linear regression channel: direction – upward. Moving average (20; smoothed) – upward. CCI: 40.9864 Well, here comes the “Hour X” for the Eurozone and the euro currency. Today is July 17, which means that the EU summit will begin today, during which the […]

EURUSD: Correction on growth. Today the most important news for the euro and the market as a whole: the European Central Bank meeting and the US employment report for the week. We are awaiting new promises from the ECB on market liquidity. It is clear that they will not raise rates. We keep purchases from […]

Bitcoin price has made no real progress since late April. Price has been mostly moving sideways in a tightening range. This price action has formed a triangle pattern. It is important to be patient now and wait for a break out above or below the triangle in order to follow the trend. Black lines -triangle […]

Gold price is getting rejected at the triple top resistance area around $1,815. Price is pulling back towards short-term support at $1,795. As we explained in a previous analysis, short-term trend remains bullish as long as price is above $1,795-90 area. Green rectangles -support area Blue rectangles- triple top Black line -resistance trend line Gold […]

EURUSD has reached the 1.14 price level which was our first target area after breaking above 1.13. Price is now pulling back. This is most probably a back test of the support area at 1.1360 where we find previous tops, that once were resistance levels. Blue rectangle- support area EURUSD is in a bullish trend […]

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 […]

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 […]

The EURUSD pair has been uptrending since the pair has initiated the depicted uptrend line on May 14. On June 11, a major resistance level was formed around 1.1400 which prevented further upside movement and forced the pair to have a downside pause towards the uptrend line. This week, the uptrend seems to show signs […]

US 30 stock index (Cash) is preserving its recent positive sentiment despite a pullback from the 27,178 level. The climb in the index is aided by the upward sloping simple moving averages (SMAs). Furthermore, the intact positive charge of the Ichimoku lines and the distancing of the red Tenkan-sen above its blue Kinjun-sen line boost […]

EURUSD is declining somewhat following the pullback on the four-month high of 1.1421 on Wednesday. This short-term bearish movement is confirmed by the technical indicators, as the MACD is falling beneath its trigger line in the positive zone, while the stochastic oscillator is approaching the oversold territory. Immediate support is coming from the 20-period simple […]

At the beginning of the year, China’s economy faced a deep recession due to the coronavirus pandemic. However, in the second quarter of this year, the country’s economy resumed rising. GDP grew by 3.2% over the same period last year. The data turned out to be above the forecasts. Analysts had expected an increase of […]