Fundamentally: All eyes on new prime minister Election in the United Kingdom . Boris Johnson is the most likely candidate to succeed Theresa May. NO-deal Brexit will place the British pound under pressure and cause uncertainty. T echnical Analysis: Weekly TF - shows us the price is testing local support trend line (Dec. 2018 – Jun. 2019) with a...
The main benchmark of the cryptocurrency market, the BTCUSD chart, continues to correct. Volatility slightly decreased and the main movement is concentrated in the zone of $7600-8200. In general, overall bearish slope of all candlestick formations can be noticed, which indicates the dominance of sellers. As a medium-term markup, Fibo price channel and parallel...
Job openings for April was released at the level +7 449M , which is worse than the previous fact +7 474M. The United States labor market is in a tight spot. Looking at the latest release of Nonfarm payrolls for May, which came out at 75K, compared to the forecasted 185K and the previous fact 224K. This means that there is no other possible way for the US...
British national GDP was released at the level -0.4% (MoM) or +1.3% (YoY) . Manufacturing has declined to 3.9%, that had the strongest impact on the fact. Production was released at -2.7%. Trade balance in April was released at -12.11 B, which is slightly better than the forecast (-13.10B) but we still see the deficit. On Tuesday economists are expecting the...
This week everybody is expecting the Japanese national GDP . The forecast is +0,5% QoQ or +2,1% YoY. Let’s try to understand if the forecast is realistic or not. GDP could be counted by summarizing consumption, trade balance, investments and governmental spending. Looking at Japanese retail sales (consumption) YoY for the 1-st quarter you may see that it is...
Parabolic uptrend in which BTCUSD chart has been trading in recent months has been broken. The mood of buyers is clearly not as inspired as it was before. After puncturing $9000 level, the main cryptocurrency impulsively lost almost $1000 at the moment, but then buyers managed to return the price to $8,800. Medium-term trendline breakthrough occurred on Tuesday,...
ADP Nonfarm in the US was released on Wednesday at a very low level. In fact, this is the lowest levels of NFP from ADP since 2010. The biggest fall is in the construction field (-36 000). Challenger job cuts in May was released at 58.6K (the previous fact for April was 40K). According to ISM Manufacturing PMI, ISM Manufacturing Employment for May was better...
On Tuesday European CPI was published. Inflation in the Eurozone is slowing down – the preliminary fact for May was +1,2% (the previous fact was +1,7%). On Thursday, we are expecting the ECB’s meeting. ECB is going to make a decision about the interest rate. Analysts expect that the interest rate will remain at the same 0% level. Consequently, we have to listen...
Japanese Manufacturing PMI was released on Monday. The fact was a little bit better than the forecast. The actual data is 49,8 against the forecast 49,6. The index is around its crucial 50 level, but still below it, which means that the situation in the economy is close to a recession. American ISM manufacturing PMI changed negatively too. The fact for May was...
New Zealand dollar reached its lowest low level on 22 May 2019. It formed a 'morning star' bullish pattern and started moving up. Right now we expect that the bullish tendency may continue. Next targets for the price are 0,89161 (38,2% Fibo correction) and 0,89490 (200-EMA). Main indicators are moving that - this is a positive signal for NZD to grow. For more...
The New Zealand dollar is falling down against euro during last 5 weeks. Right now, the pair is approaching the resistance level. Fundamentally next week the most interesting news is published in Eurozone. On Tuesday CPI is published. The forecast is +1,4%. Retail sales are published on Wednesday. Consumption in eurozone is around zero level and economists are...
Bitcoin continues to grow in a parabolic trend, which is likely to continue in the short term. And the most important questions for traders now are - where exactly the correction will start and how big it might be? Current price target is likely to be near $ 9 700–10 000. It corresponds to the Fibonacci level and level of bull trap from May 2018. In a more...
As we already mentioned about a week ago USD/CAD reached its resistance zone. In our opinion this cluster zone is situated between 1,34940 and 1,35024. Now we see the reversal signals to sell the US dollar. Fundamental Analysis On Thursday, the BoC made a decision about the interest rate. It decided to leave the interest rate at the same level. Here are the key...
Fundamental Analysis United States: 30-year mortgage rate remained stable – 4,33%. Mortgage applications decreased by 3,3%. Tomorrow, May 30th, the US national GDP is released. The forecast is close to the previous fact (+3,1%). Technical analysis On daily TF the trend is bullish – 200-EMA is moving up. The local trend line was heading down – the pair...
Despite the bad situation with Swiss retail sales, national GDP for the first quarter rose by +0,6% quarter on quarter and by +1,7% year on year. Swiss Federal Statistical Office stated: “Private consumption (+0.4%) saw slightly above-average growth for the first time in six quarters. Consumption expenditures increased in almost all segments and most significantly...
Today is holiday in the US (Memorial Day) and in the UK (Spring Bank Holiday). This means that volatility on the FOREX market should be extremely low. As a result, it is better to be careful and maybe refrain from active trading operations. This is good in a way because it gives us an opportunity to analyze the current situation better. Fundamental Analysis: The...
Cryptocurrency market is on the rise. The tremendous growth of main cryptocurrency, which is now trading around $8800, has pulled the growth of most altcoins. The total market capitalization is $ 270 billion, plus $ 100 billion from the beggining of may. And everything seems to be fine. But is cryptowinter really over, as various industry representatives tell us?...
On the daily time frame the pair formed the ‘Morning star’ pattern. We think that this could become a strong signal to open longs because the pattern appeared next to the support level 0,92000. AUD started correcting up and it is approaching the local trend line. If it breaks this line – we see the potential for the currency to goahead. Also, we recommend to pay...