To open long positions on GBPUSD, you need: From a technical point of view, nothing has changed at all, since volatility has remained at a fairly low level, which does not allow signals to be formed when entering the market. News on the PMI for the UK construction sector, where activity again began to show […]

To open long positions on EURUSD, you need: In the first half of the day, I paid special attention to the resistance level of 1.1297, since the entire trading strategy was based on it. If you look at the 5-minute chart, you will see how the bears formed a false breakout in the resistance area […]

Trading recommendation: EUR is trading at the rising resistance, which is sign that buying looks very risky around 1,1300. I see potential for the rotation downside towards the levels at 1,1257 and 1,1222. Stochastic oscillator is in overbought area, which is another indication for the downside rotation. Watch for selling opportunities with the downward targets […]

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: • Risk-on mood prevails despite #coronavirus concerns • US ISM Non-Manufactruing & #RBA in focus • #EURUSD eyes 1.1350 • #Gold on slow path towards $1800 For more Market […]

AUDUSD appears to be struggling to break above the roof (0.6976) of the sideways market that commenced in mid-June. Currently, the 50- and 100-period simple moving averages (SMAs) sustain a mostly neutral tone, while the Ichimoku lines and the cloud reflect some improvement in price action. Further backing the positive picture are the short-term oscillators […]

The US 500 cash index was promoting a bullish signal as it touched the 3,181 in the preceding session, but then it created a bearish doji candle. The technical indicators are mixed as the MACD is rising above its trigger line in the positive territory, while the RSI is sloping south around the 70 region. Moreover, the simple moving averages (SMAs) are […]

Trading recommendation: Gold is trading in the well defined upward channel and I did found few rejections of the support, which is sign for the further bullish continuation. Stochastic oscillator did another bull cross, which is another confirmation of the strength. Watch for buying opportunities and potential targets at $1,790 and $1,3820 Support level is […]

From the point of view of complex analysis, we can see a local surge in activity due to the slowdown recorded last week. Last trading week did not lead to any major changes in the market. The quotes continued to concentrate between the values 1.1180 (1.1190) and 1.1300 (1.1350), which gradually reduced activity. The behavior […]

ChIna’s 50 stock index (CHI50 cash) ignored all nearby 2018 barriers on Monday and skyrocketed to 15,983, recording its best daily gain ever. After such an impressive rally, some downside retracement could be reasonable as markets do not move in one direction. The RSI and the Stochastics have also entered the overbought territory, but have […]

At the start of trading, the Australian dollar is paired with the US currency: against the background of a general weakening of the dollar, the AUD/USD pair is approaching the borders of the key resistance level of 0.7000. However, this price dynamics must be treated with extreme caution. Firstly, the price increase is due solely […]

EUR/USD rallies today as the dollar index is very heavy again, the pair is pressuring a major dynamic resistance, but only a valid breakout above this obstacle will suggest buying. The pair is trading at 1.1284 level, the buyers are in full control, but a USDX’s rally after the US data will bring the sellers […]

The EUR/USD pair broke resistance which turned to strong support at the level of 1.1245 last week. The level of 1.1213 coincides with a golden ratio (61.8% of Fibonacci), which is expected to act as major support today. The Relative Strength Index (RSI) is considered overbought because it is around 70. The RSI is still […]

Economists are debating on the shape of economic recovery in Australia. Many forecast a U-shaped pattern, but most expect a W-shape. Nevertheless, both sides support the RBA’s view that interest rates will remain low for a long time. According to reports, the Reserve Bank of Australia intends to maintain interest rates at 0.25%. It will […]

Gold is trading in the green and is fighting hard to approach and reach new highs as the rate is located in the buyer’s territory. It is traded at $1,776 level, the $1,800 psychological level is seen as the next upside target. The yellow metal could jump way higher if the USD will continue to […]

The recent statistics on the coronavirus suggests that there is another surge in the number of new COVID-19 infections around the world, which resulted in new highs in the number of daily incidence. Fortunately, mortality has decreased to 1.5 times lower than the highs recorded in mid-April, which suggests that the lethality of the virus […]

GBP/USD Analysis: A flat correction wave has been forming in the British pound market over the past 3 months. The extremes of the graph show a distinct stretched plane. The last part of it is incomplete. An intermediate correction has been developing for the last 3 weeks. The structure of this zigzag looks formed, however, […]

Investors start week in risk-taking mood, despite fading hopes of a V-shaped recovery Global stocks cruise higher, led by China, as yen and dollar crumble Positive mood could endure for now, especially if the ‘weekend effect’ of lower US cases on Monday holds Today: ISM non-manufacturing PMI, ahead of RBA meeting early on Tuesday Nasdaq […]

Today we take a look at NZDCHF and see how we are going to play the bounce! We use Fibonacci retracements, extensions, support/resistance, momentum and trend lines to identify trading opportunities in this exciting pair today The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Daily Market Comment – Nasdaq set for new […]

The improving data on the services sector of eurozone countries supported risky assets. However, the latest statistics indicate that the coronavirus pandemic has not yet been eradicated, so authorities of some states are forced to return social distancing measures and restrictions to curb the recent surge of COVID-19 incidents. The latest statistics show that the […]

Gold opened with weak momentum on Monday in the daily chart, hovering slightly below the new almost eight-year peak registered last week. Nevertheless, the short-term bias is still skewed to the upside. Although frail, the RSI is holding comfortably above its 50 neutral level, while the MACD, despite stabilizing, remains within the positive area and marginally above […]

Gold opened with weak momentum on Monday in the daily chart, hovering slightly below the new almost eight-year peak registered last week. Nevertheless, the short-term bias is still skewed to the upside. Although frail, the RSI is holding comfortably above its 50 neutral level, while the MACD, despite stabilizing, remains within the positive area and marginally above […]

EURUSD is tackling the 1.1302 resistance, suggesting that positive sentiment may be picking up in a sideways market that has held since the pullback from the 1.1421 peak. In spite of this pause, the positive picture has managed to remain intact, something also reflected in the Ichimoku lines and the bullish bearing of the 50- […]

EURUSD is tackling the 1.1302 resistance, suggesting that positive sentiment may be picking up in a sideways market that has held since the pullback from the 1.1421 peak. In spite of this pause, the positive picture has managed to remain intact, something also reflected in the Ichimoku lines and the bullish bearing of the 50- […]

USDJPY is consolidating within tight Bollinger bands that are suggesting a potential sharp move either to the upside or to the downside. The price remains above the short-term moving averages; however, they are pointing down. The RSI indicator is heading south or into the bullish territory, while the stochastic is moving sideways below the overbought zone. […]

The opening of today’s European session will indicate the direction of trade. If the quotes develop above the WCZ 1/2 1.1285-1.1276, buy positions to decrease the pair in the charts. The closing of today’s trading will be decisive for the movement of the pair for the whole week. The upward movement that transpired in late […]