Today’s speech of Bank’s President, Mark Carney, seriously weakened pound sterling. As a result GBPCHF on H4 formed a Bearish Engulfing Formation. The candle forming the aforementioned formation establishes a lower low and its closure took place under the support area of 1.2387. This could therefore mean the end of bearish correction that began after UK...
The GOLD market has moved north since second half of December last year. These increases are significantly less dynamic than previous falls, initiated by results of last year’s presidential elections in the United States and are moving within a growth channel. Although, as a result of the last growth impulse, at the beginning of June this year market for the...
Almost from the beginning of June EURCAD moves south. As a result of these declines market broke local -1.75% support at 1.4985 and reached lower limit of a long-term consolidation where yesterday first demand response occurred. Rejection of currently tested support could open the way to growth which would lead to a re-test of the previously broken support (now...
The British pound posted a recovery yesterday as the inflation data showed that the UK’s consumer price index rose 2.9%, more than expected. With the jobs and BoE meeting scheduled this week, the modest recovery is likely to see GBPUSD test the resistance level that could be developed at 1.2800. The downside remains intact with GBPUSD likely to resume the...
EURUSD continues to consolidate within a rising wedge pattern, and the price action suggests a modest upside in the making. Price is likely to test 1.1260 – 1.1245 where resistance could be forming. This near-term upside is also validated by the doji close that has formed. Following a retest, a reversal from this resistance level could keep the EURUSD biased to...
Almost from the beginning of June EURCAD moves south. As a result of these declines market broke local support at 1.4985 and reached lower limit of a long-term consolidation where yesterday first demand response occurred. Rejection of currently tested support could open the way to growth which would lead to a re-test of the previously broken support (now...
The British pound posted a recovery yesterday as the inflation data showed that the UK’s consumer price index rose 2.9%, more than expected. With the jobs and BoE meeting scheduled this week, the modest recovery is likely to see GBPUSD test the resistance level that could be developed at 1.2800. The downside remains intact with GBPUSD likely to resume the...
EURUSD continues to consolidate within a rising wedge pattern, and the price action suggests a modest upside in the making. Price is likely to test 1.1260 – 1.1245 where resistance could be forming. This near-term upside is also validated by the doji close that has formed. Following a retest, a reversal from this resistance level could keep the EURUSD biased to...
USDJPY on H4 chart is in a downward trend, where lows and highs are at lower and lower levels. Last week there was a correction of bearish impulse which began on June 2nd. This correction has reached confluence of resistance, where horizontal area 110.65 converges with downward trend line from 11th of May this year. In that place bulls gave up and pair returned...
NZD/USD on H1 chart shows current outbreak from a wider consolidation. In context of recent bullish trend, this can be read as a signal for continuation of growth. The price looks much more interesting at higher intervals. On daily chart we see that price has been respecting for a long time edges of a bearish channel. It is therefore logic that setting new highs...
GOLD market since second half of December moves north. These increases are significantly less dynamic than previous declines which began in result of last year’s presidential elections in the United States and are trapped within bullish channel edges. Although, as a result of the last growth impulse, at the beginning of June this year pair for the first time in...
USDJPY on H4 chart is in a downward trend, where lows and highs are at lower and lower levels. Last week there was a correction of bearish impulse which began on June 2nd. This correction has reached confluence of resistance, where horizontal area 110.65 converges with downward trend line from 11th of May this year. In that place bulls gave up and pair returned...
NZD/USD on H1 chart shows current outbreak from a wider consolidation. In context of recent bullish trend, this can be read as a signal for continuation of growth. The price looks much more interesting at higher intervals. On daily chart we see that price has been respecting for a long time edges of a bearish channel. It is therefore logic that setting new highs...
GOLD market since second half of December moves north. These increases are significantly less dynamic than previous declines which began in result of last year’s presidential elections in the United States and are trapped within bullish channel edges. Although, as a result of the last growth impulse, at the beginning of June this year pair for the first time in...
Gold‘s price reached this week a critical resistance of 1295.00, from which in the second half of April supply pushed price down to 1215.00. Rebound from mentioned resistance pushed Gold to support at 1274.00, which is now intersecting with trend line from the 9th May low. It is important how price will behave in near future, as breaking area where horizontal...
GBPUSD has two possible scenarios. The first is to return of price above 1.2740 support, then today’s breakdown of support could be treated as a false breakout. The second scenario is the test of nearest support at 1.2570. Currently this support is further reinforced by the upper limitation of the triangle from which pair broke out in mid-April. Today’s session is...
EUR/NZD broke yesterday support set by last low that formed prior to setting high and also broke the uptrend line. Bears have clearly overtook control on the market and are heading to 1.5455 support. There we can expect reaction of bulls and in case of rebound, area between 1.5627 – 1.5670 can be a resistance for this pair. In addition, 20-day SMA can provide a...
Gold‘s price reached this week a critical resistance of 1295.00, from which in the second half of April supply pushed price down to 1215.00. Rebound from mentioned resistance pushed Gold to support at 1274.00, which is now intersecting with trend line from the 9th May low. It is important how price will behave in near future, as breaking area where horizontal...