Summary of last week: The currency pair opened one of the largest gaps downward in recent years. This was the result of uncertainty related to Greece. Markets remained constantly on the alert which led to strong fluctuations and even incomprehensible movements. After opening the trend we saw the bottom of the 1.0954 level and then, without major problems has led...
Summary of the week: In the last week the single currency was weaker against the dollar by 1.35%. To a large extent this is due to the uncertainty around Greece and the future of the whole euro area. The dollar also was supported by good data from the US, which reassures the market in the belief that the first increases in interest rates will fall. In the coming...
Summary Wednesday: According to yesterday's analysis, today we can include as a correction of yesterday's strong declines. According to the forecast I assumed increases in the vicinity of 1.12 and 1.1240. The maximum we could see at the level of 1.1236 and then saw profit-taking, which caused declines in around 1.1170. It is worth mentioning that the weaker...
Summary Thursday: According to yesterday predicted, the EUR / USD corrected yesterday's first increase in the support area 1.1230 and then demand has led to successive increases and defeated yesterday's high of 1.1286. This led to increases in the vicinity of the resistance zone 1,1350-90. Currently, the realization of profit, which got support in the form of...
A brief summary of Wednesday: Today pierced 1.1225 level and this means that the first variant was realized yesterday's analysis. In this case, we will move towards recent highs at 1.1456. The fuel for growth was weaker ISM index reading for the services. Data from Europe have proved to be better, as confirmed also by Mario Draghi at a press conference, stating...
A brief summary of Tuesday: Today we recorded very strong growth that exceeded their most optimistic strength. The demand received support in the form of better CPI reading from the Euro zone. However, the biggest driving force for growth were informed of the imminent agreement with Greece's creditors. Demand without any problems broke resistance and led the...
--- Please readjust the scaling so that the spiral sits just above recent price action --- We are still in the process of consolidation. In my opinion, the recent drop should not be interpreted as a meaningfull breakdown. It's still within the acceptable range. Price bounced of the longest possible MA at 222 (using Bitstamp due to good historic data). A break...
A brief summary of Monday: Today there has been a decline, without the expected correction in the vicinity of 1.1040. This means that the alternative embodiment, which assumed no test zone decreases resistance was today realized. To a large extent the impact of the weakness of the euro have today, weak data from Germany and a good reading of ISM for industry in...
A brief summary of May: The dollar weakened slightly last week, in large part because it was a strong sell out on a pair of EUR / USD. Macroeconomic data from the US were mixed but they were not bad, it may suggest that growth at the end of the week, they are only a short correction before further declines. It should also be noted that the euro has weakened over...
The currency pair broke through the resistance level of 0.7420 and reached a strong resistance level at 0.7550, which was slightly exceeded. An attempt to break through this resistance should not go. The increases were initiated by the occurrence of Governor of the Bank of New Zealand, who hinted that the probability of interest rate hikes in June. An additional...
On the daily chart we can see a shooting star, which can be a precursor to change in the trend. In my opinion, it is a signal for correction of recent increases. In addition, large purchase enhances the credibility of the candle. Purpose correction estimate around $ 54 level.
Today we met mixed data from the Euro-zone, which in a sense has helped the supply side. (Very good fell fell PMI manufacturing index in Germany, which rose to 52.1 points. Also, the indicator for the industry in Italy got the better of 53.8 points. But on the other side found himself PMI for France, who dived to 48 points and the PMI for manufacturing in Spain at...
Today there has been considerable increases, which were supported by a very weak US GDP reading (0.2% vs. 1%). Part of the market has come to the conclusion that a rate hike will be reached in time. Therefore, we saw the EUR / USD at 1.1189, after having pierced the important resistance at 1.1034 and 1.1090. However, the situation turned around when we met notes...
Once again, according to yesterday's forecast currency pair recorded a new high of 1.0991. Demand side was further supported by data from the US worse (Conference Board index fell to 95.2. This is another worse US data, which show that tomorrow's meeting notes from the Fed may be dismissed in the time of a possible rate hike. Let me remind you only that the first...
Today there was a breakthrough summit in April, which resulted in the establishment of a high of 1.0928. If the dislocation of the wedge, which I pointed out in yesterday's analysis is not false, then we should see a withdrawal and then attack resistance zone, which is located between the 1,10-1,1034. Economic Calendar: Tuesday: 8:00 GfK Consumer Climate EUR in...
Although there is still room for the current drawback to expand even further up, it still has a lot of barriers before the long-term downtrend is broken. For now, the downtrend remains in force with two touches of strong support at $210-$220 that may serve as a breakdown zone. If and when the price returns to this level, we may get a quick snap to $170-$180 for...
In the first part of the day we saw increases in the 1.0889 area which can be treated as an adjustment to recent declines. Around 1.09 level become active in the supply, which we defend the resistance which automatically led to declines in the vicinity of 1.08. Then the market waited for an hour 20:00 when we got to know the records of the minutes of the FOMC....
Bearish Trend could continue if we see positive NFP results for the USD, If the respected level is broken we could see a major crash in the price of Gold.