USDCAD is currently tackling the downtrend line drawn from the 50-month high of 1.4667 achieved on March 19, aligned with the falling 50-day simple moving average (SMA).  Further hindrance is arising from the overlapping 1.3633 level, that being the 23.6% Fibonacci retracement of the down leg from 1.4667 to 1.3314. The bulls seem to have […]

Technical Market Outlook: Another Bearish Engulfing candlestick pattern at the top of the EUR/USD last rally has forced bulls to pull-back towards the technical support located at the level of 1.1264. This is the third time any attempt to rally above the supply zone located between the levels of 1.1347 – 1.1361 has been capped. […]

Technical Market Outlook: The GBP/USD bulls has made a temporary high at the level of 1.2668, but then the Bearish Engulfing pattern was made and the price pulled-back towards the local technical support seen at the level of 1.2590. Any violation of this level might lead to the test of the short-term trend line support […]

Crypto Industry News: Speaking at the Unitize blockchain conference, Douglas Arner, director of the Asian Institute of International Financial Law at the University of Hong Kong, argued that interrelationships between various global economic systems would become “one of the biggest challenges – and one of the greatest opportunities” because more and more countries around the […]

Crypto Industry News: Paul Grewal, a former American judge in California and deputy general legal adviser on Facebook, joins the legal team of the Coinbase Stock Exchange. In a published statement on the Coinbase blog, the crypto exchange said that Grewal would help “pave the way to the next stage of awareness and the adoption […]

Trend analysis (Fig. 1). Today, the downward trend may continue from the level of 1.1287 (closing of yesterday’s candle), with a target of 1.1247 – a 61.8% pullback level (blue dotted line). Upon reaching this level, the downward trend may continue with the next target of 1.1217 – a 76.4% pullback level (blue dashed line). […]

The data on the number of applications for unemployment benefits in the States released on Thursday turned out to be higher than expected and became a catalyst for a moderate, but time-limited increase in demand for risky assets, which in turn, contributed to the depreciation of the US currency. The main negativity for the markets […]

On the 4-hour chart, the USD/ JPY pair is now trying to reach the 106.81 level as its first target. If the bullish momentum is strong enough, there is a possiblility that USD/JPY will continue its downward movement and reach the 106.09 level too as its second target. This scenario is likely to occur as […]

The dollar/yen pair updated the lows of the current month during the Asian session on Friday, falling to the 106th figure. On the one hand, the pair is still trading in the flat band of 106.80-107.90, within which it has been since the beginning of June. On the other hand, the growth of the Japanese […]

Based on the 4-hour chart, the USD/CAD pair is now trying to touch the 1.3623 level as the first target and 1.3715 as the secondary target as long as the Loonie does not retrace downwards and closes below 1.3485. If the pair can pass the 1.3485 level, this scenario will be automatically cancelled. (Disclaimer) The […]

The Federal Reserve has fairly scared market participants with the prospect of new stimulus measures, based only on the fact that the pace of economic recovery is too slow. Supposedly, the macroeconomic dynamics rather indicate a prolonged depression. There was every reason to believe that the data on applications for unemployment benefits will only be […]

GBPJPY managed to unlock a three-week high at 135.90 on Thursday, but gains were soon reversed, creating a bearish shooting star candlestick instead – a negative signal that a downside correction may be on the way. With the 50% Fibonacci of the 147.94-124.00 strongly rejecting upside movements at the same point and the Stochastics sloping downwards after […]

To open long positions on GBP/USD, you need: Yesterday’s data on the deterioration of the US labor market amid the surge of a new wave of the coronavirus pandemic caused the pound to sharply fall, which formed several signals for entering the market. In my forecast for the afternoon, I advised opening short positions when […]

To open long positions on EUR/USD, you need: Yesterday’s data on the state of the US labor market and on the slowdown in the decrease in the number of applications for unemployment benefits in the US put strong pressure on the euro and the pound, which led to strengthening the US dollar. The breakout of […]

NZDJPY pushed back above the 200-day simple moving average (SMA) after finding footing at the 68.15 level, that being the 61.8% Fibonacci retracement of the down leg from 73.52 to 59.45. Assisting the move is the rising 50-day SMA and its recent bullish crossover of the 100-day SMA. Additionally, the short-term oscillators paint an improving […]

EUR/USD The dollar began its offensive on a broad front on Thursday – other currencies, raw materials, and commodity markets declined relative to the dollar. The euro lost 45 points. The Marlin oscillator is moving deeper into the negative zone on the daily chart, but the price is still above the balance line (red indicator) […]

AUD/USD The Australian dollar is losing interest in growth every day. The price spent the whole week in a sideways direction, it closed Thursday with a black candle of 16 points. This nature of the price significantly reduces the probability of forming a triple divergence for Marlin. Commodity markets also intervened: oil fell 3.18% (WTI) […]

USD/JPY The US stock market fell by 0.56% (S&P 500) on Thursday, the yen followed it, losing five points. Investors were probably not quite ready for the stock market to slip, so the decline in the yen is moderate on the internal desire of investors to still buy the USD/JPY pair, because the dollar itself […]

GBP/USD 1H The GBP/USD currency pair, unlike EUR/USD, started a much weaker correction inside its ascending channel. In the British currency’s case, there are no special prerequisites for statements about the end of the upward trend in the short term. The quotes are located near the lower border of the channel and the critical Kijun-sen […]

EUR/USD 1H Buyers made another attempt to continue forming an upward trend on the hourly timeframe on July 9, which, by the way, is visible only on small timeframes. A side channel is clearly visible on the four-hour chart and above, in which the euro/dollar pair has been trading in for a month. The high […]

EUR/USD 1H Buyers made another attempt to continue forming an upward trend on the hourly timeframe on July 9, which, by the way, is visible only on small timeframes. A side channel is clearly visible on the four-hour chart and above, in which the euro/dollar pair has been trading in for a month. The high […]

4-hour timeframe Technical details: Higher linear regression channel: direction – upward. Lower linear regression channel: direction – sideways. Moving average (20; smoothed) – upward. CCI: 105.7463 The British pound has been trading higher for most of the last trading day of the week. Market participants still attached high importance to what is happening in the […]

4-hour timeframe Technical details: Higher linear regression channel: direction – upward. Lower linear regression channel: direction – sideways. Moving average (20; smoothed) – upward. CCI: 105.7463 The British pound has been trading higher for most of the last trading day of the week. Market participants still attached high importance to what is happening in the […]

4-hour timeframe Technical details: Higher linear regression channel: direction – upward. Lower linear regression channel: direction – sideways. Moving average (20; smoothed) – sideways. CCI: 7.7371 The fourth trading day of the week again passed with a slight advantage of the European currency. However, in the American trading session, the quotes moved down a little, […]

4-hour timeframe Technical details: Higher linear regression channel: direction – upward. Lower linear regression channel: direction – sideways. Moving average (20; smoothed) – sideways. CCI: 7.7371 The fourth trading day of the week again passed with a slight advantage of the European currency. However, in the American trading session, the quotes moved down a little, […]