In short-term EUR/GBP remains neutral at this point. Another decline is mildly in favor as long as 0.8676 resistance holds. Break of 0.8521 will target 100% projection of 0.9324 to 0.8786 from 0.9019 at 0.8481, which is close to 0.8472 key support. Considering diminishing downside momentum as seen in daily MACD, we’d expect strong support from there to bring...
Later this evening around midnight New Zealand will publish quarterly Retail sales report.The New Zealand Dollar traded mostly flat last week as investors seemed to shrug off the latest developments over the trade deal. Following the Reserve Bank of New Zealand’s surprise decision to keep monetary policy unchanged at its last meeting, the data will be watched for...
GBP is the only gainer vs USD since the beginning of the week as opinion polls suggest the Conservatives could win with as much as a 48-pt majority in next week's elections. While most GBP bulls appear to be anticipating a Tories majority victory, a Tories win without majority (hung parliament) would depend on the make-up of the possible coalition. An unlikely...
It didn’t take long for the major indices to get back to all-time highs, as they began this shortened holiday week with a solid rally on hopes for a trade deal. The prospect of renewed economic growth and favorable monetary policy have also played some roles for the rally. Overnight, DOW rose 0.68%, but lagged comparing it with S&P 500 and NASDAQ. Obviously, the...
The collapse at the beginning of the working week may be since hedge funds on CME have $50 mln in short positions for Bitcoin. Quite enough to strengthen the adverse reaction of the market, already affected by the actions of the Chinese authorities. In addition, the situation with the “miners’ exodus” also helped to form a “perfect storm”. The downward momentum...
EUR/USD extended its decline and retested the 1.0980 support area at Friday. The intraday bias remains neutral first and some recovery could be seen. A major bearish trend line is forming with resistance near 1.1045 on the 4-hours chart. Besides, the pair settled below 1.1040, the 100-day and the 50-day SMAs on the chart. So, we're expecting the sellers to return...
The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Monday, bouncing from the uptrend line and reaching towards and above the 50-day SMA initially. The crude oil market kick off the week with rally, as an Iraq oil minister suggested that not only would OPEC continue its production cuts, but it would possibly even...
The Aussie jumps in early Monday’s trading, supported by upbeat Chinese data and tomorrow morning we expect RBA to leave the rate unchanged. The first bullish target siting at 61.8% Fibo on the fall of 0.7082 to 0.6670 at 0.6828. Daily Stochastic indicator emerged from oversold zone after forming bullish divergence that adds to supportive factors. On the upside,...
Ripple price remained depressed over the weekend despite other cryptos posting minor gains. This morning the crypto asset declined with 1.48%. On Sunday, the major support at $0.25 was tested. Right now Ripple is in the middle of a correction to the short term support at $0.26. For the day ahead, a move through to $0.2640 levels would support a run at the...
After brief consolidation the EUR/AUD’s rise from 1.5976 resumed and intraday bias is back on the upside. Friday’s daily candle came out as a bullish Marubozu candle, which indicates that the buyers are in control. Additionally, the today breakout on daily chart above Friday’s high may push the price upside with good bullish momentum. But the H4 chart shows that...
The currency pair CAD/JPY is trade around 81.58 today. There is very interesting situation with H4 and D1 timeframes! Technically, at H4 chart, we notice many reasons for BUY: 1. Third touch of H4 support line which is the same like D1 support. 2. In the same time the price tests D1 resistance (support now). 3. 38,2 Fibo @ the same area. 4. MACD divergence. On...
With markets drowning in so much US-China trade news as of late, it’d be remiss of us not to notice Bitcoin’s sizable fall for the last 24 hours. Chinese authorities have raided Binance’s offices in Shanghai and shutting down it. Authorities in China obviously have extended their crackdown on crypto-related activities. BTC/USD broke 200-day SMA to the downside...
From technical perspective, the pair is stuck in the 1.1100 - 1.1050 range. And we'll need to see a sharp breakouth in any direction to give us more clarity in the medium-term. For now, while the Dollar index is bullish in the medium-term, we can expect the euro to fall below 1.1050. Additionally, ECB President Lagarde will make her first major speech later...
Oil posted its biggest percentage decline in nearly 2 months after reports indicated Russia is unlikely to lower production at the upcoming OPEC meeting. WTI dropped towards its 7-week support trend line, but after that rebounded from $ 55.00 and 200-day SMA on H4 chart. Earlier on Wednesday, the EIA reported that overall Crude stocks rose 1.4 Mb, about in line...
Silver tends to move in a very specific way. It moves very fast for a few days, only to act very calm in the next several days. Silver already lost its downward momentum as its been calm for a few days now. This characteristic pattern is what we saw also when Silver completed a broad top (just as it did recently) earlier this year. What does it all come to? For...
At the time of writing, Bitcoin was down by just 3.34% to $ 8,715.36 for. A mixed start to the day saw Bitcoin firstly rise from an early morning to a high $ 9,075.32. Elsewhere, EOS (-0.01%) and Litecoin (-1.74%) were also in the red in the early part of the day. It was a more bullish start for the rest of the majors, however, with Stellar's Limen up by 3.08% for...
The Relative Strength Index on the four-hour chart rising to 70 area. Other indicators are also positive – Momentum is to the upside and the pair is trading above the 50, 100, 200 Simple Moving Averages. On the upside, firm break above 1.3012 resistance will resume the whole rise from 1.1958. On the daily chart, the 200 SMA sits just below the flag formation, so...
Intraday bias in EUR/GBP is turned neutral with a temporary low formed at 0.8521. Considering diminishing downside momentum as seen in daily MACD, we’d expect strong support from there to bring rebound. On the upside, our first target is 0.8630/50. A break of 4-hour 50 SMA and yesterday's high around 0.8680 will indicate short-term bottoming and bring stronger...