China’s 50 stock index (cash) is recording another stunning green day, rallying by more than 5% since the latest rebound on the 20-day simple moving average (SMA) to re-challenge the 2020 high of 14,678. The sharp move drove the pair to overbought territory according to the RSI, which pierced above 70. However, the indicator has […]

Good day, dear traders! At yesterday’s trading, the pound/dollar currency pair significantly increased, thus continuing the upward trend that began on the first day of July trading. Today is an important day for the markets. In connection with tomorrow’s celebration of US Independence Day, data on the US labor market for June will be published […]

From the point of view of complex analysis, we see the fourth rebound from the range level of 1.1180. Now, let’s talk about the details The last trading day was on the verge of touching the range level of 1.1180 [1.1165 // 1.1180 // 1.1190], where the quote managed to go below the value of […]

Latest data reveals that the United States continues to observe a huge jump in coronavirus incidence to more than 50 thousand per day. This clearly suggests that a second wave of the pandemic has occurred in the country. Trump’s standing in the November elections has significantly weakened because of this, since the figures three weeks […]

EURJPY appears somewhat optimistic despite the recent consolidation in price above the 200-period simple moving average (SMA). Positive signals include the price having moved above the SMAs and the Ichimoku cloud, while the Ichimoku lines stall their positive tone. Furthermore, a nearing bullish crossover of the 100-period SMA by the 50-period one could boost positive […]

GBP/USD Analysis: The daily chart of the British pound is dominated by an ascending wave structure. Since April, a corrective stretched plane has been developing in its structure. Its last section started on June 10 and is not complete at the time of analysis. In the last 2 weeks, the price forms an intermediate pullback, […]

Dollar torn between upbeat data and US virus spike; NFP may decide fate Positive vaccine news helps breathe life into flagging stock market rally Gold retreats from highs as markets dismiss US-China tensions Dollar looks shaky as jobs report awaited Markets were mostly in risk-on mode on Thursday as the combination of positive economic indicators […]

Hello, dear colleagues! The main event of yesterday was the publication of the minutes of the June meeting of the Federal Open Market Committee (FOMC) of the US Federal Reserve. However, this event did not have a significant impact on the price dynamics of the main currency pair of the Forex market. We will move […]

On Wednesday, US President Donald Trump announced his support for another bill to stimulate the US economy, but expressed his want to include incentives for Americans to return to work, which created conflict with Democrats in Congress over unemployment benefits. “We want to create a very good incentive to work so we are working on […]

WTI crude oil futures have found resistance at the 41.60 barrier, sending prices sideways in the short-term. Oil is keeping its position above the moving averages despite the contradicting signals in the momentum indicators. The MACD is holding beneath its trigger line in the positive territory, while the RSI is pointing marginally up in the bullish region. In […]

AUDUSD has been on the sidelines over the past three weeks, but is still within the three-month old ascending channel, keeping hopes alive that the positive pattern may continue. In other bullish trend news, the 50- and 200-day simple moving averages (SMAs) managed to post a golden cross after more than two years, further brightening the medium-term outlook. […]

Today we take a look at EURJPY 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:Technical Analysis – WTI futures weaken their… July 2, […]

Good macroeconomic reports on the US economy continue to fuel the risk appetite of traders. However, it is important to understand that expecting a major turn in the markets is wrong, as it’s still too early to be confident about it. The bulls have to keep the quotes at the lows of last week, because […]

There is a suspicion that what happened yesterday is nothing other than a large-scale speculation, the goal of which is the subsequent sale of more expensive currencies for dollars. Market reaction was indeed the opposite of employment data and you don’t need to fool yourself by talking about the fact that, they say, the reason […]

Forecast for July 2 : Analytical review of currency pairs on the scale of H1: The key levels for the euro / dollar pair on the H1 scale are: 1.1289, 1.1254, 1.1183, 1.1154, 1.1132, 1.1071 and 1.1029. Here, we continue to monitor the formation of the descending structure of June 23. The continuation of the […]

EURUSD has been in a range for a couple of weeks now with the price currently capped by the 100-period simple moving average (SMA) and the 1.1268 level, that being the 23.6% Fibonacci retracement of the up leg from 1.0773 to 1.1421. The stalled Ichimoku lines and the flattened state within the 50- and 100-period […]

Before the publication of the US labor market report in June, APD presented a report on private sector employment, which not only did not add clarity, but further confused the situation. In June, 2369 thousand jobs were created, and this would have been an outstanding figure in the old days. But, first, 3 million new […]

Technical Market Outlook: After the GBP/USD pair has made a local low at the level of 1.2251 the price has temporary broken out the descending channel and tested the technical resistance seen at the level of 1.2362. After that move, the bulls pushed the price higher towards the overbalance level seen at the level of […]

AUDUSD is moving higher towards the upper boundary of the short-term trading range. Medium-term trend remains bullish and as long as price remains above 0.68 we remain confident for a move towards 0.70. Blue lines – bullish channel Red lines – trading range AUDUSD bullish scenario will be confirmed on a break above and out […]

GBPUSD has made an upward move from 1.2250 to 1.25. This upward move is in its final stages and has limited upside potential. Although key support of this new upward move is at 1.2250, I believe bullish traders should be patient and wait for a pull back to come first. Red rectangle – possible reversal […]

Technical Market Outlook: The EUR/USD pair has made series of Pin Bar candlesticks just above the key short-term support located at the level of 1.1185 and bounced significantly. The bulls are heading north, so any violation of the level of 1.1287 makes the rally towards the technical resistance located at the level of 1.1347 highly […]

EURUSD continues to trade inside the triangle pattern we have showed from previous analysis. Price is bouncing off the boundaries of the triangle with no clear direction. I continue to believe that the most probable break out will be to the downside. For my bearish view to be confirmed we need a clear 4 hour […]

Crypto Industry News: Startup Blockchain Kirobo claims that its technology can prevent the loss of cryptocurrencies caused by human error when sending transactions between Bitcoin wallets, which are usually irreversible. The Recoverable Transfer feature is to build a new layer on existing Blockchain protocols. Users can then “cancel” the transaction sent to the incorrect cryptocurrency […]

Gold price has pulled back towards $1,758 from $1,788 highs. In our last analysis bulls were warned that price was at overbought levels and the RSI was giving us warning signs of a coming pull back. Red lines -bullish channel Gold price remains inside the upward sloping channel. Trend remains bullish. Price has found support […]

Crypto Industry News: The European Innovation Council (EIC) has allocated € 5 million to six Blockchain initiatives under the Blockchains for Social Good program. Announcing the news, the EIC noted that the award aims to promote the development of Blockchain in the areas of traceability, fair trade, financial inclusion and a decentralized circular economy. The […]