ForexTrendline

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The NZD/USD has been bullish since Monday’s strong rally was fueled by talk of fiscal stimulus to boost the New Zealand economy. The Kiwi was also boosted after an unexpected rebound in Chinese manufacturing raised hopes of a brighter outlook for the world economy. And now NZD is the strongest major of the week. Technically, NZD/USD’s 4-hour chart is reporting a...

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Ethereum is struggling to settle above $148.00, however, with little success so far. The initial support awaits us at $147.70. It is reinforced by 1-hour 50 SMA and the lower line of 1-hour Bollinger Bands. A clear break here could extend the bearish pressure to the lower line of 4-hour Bollinger Bands at $144.90. Once it is out of the way, the sell-off may...

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Non-farm payrolls report will be released later today. At the same time next week Fed will meet regarding their monetary policy. A weak NFP report may raise the chances of a Fed rate cut in March, but we don’t think it’s going to influence the Fed at its next meeting on December 11. Risk appetite is also wobbly, which means that a softer report could have a...

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US Non-Farm Payrolls report will be the major focus today. Most of the economists are expecting US NFP to post reading in between 183-200K in November. In addition, they are forecasting the unemployment rate to remain between 3.5-3.6% for the month. Average hourly earnings growth is expected to pick up to 0.3% mom. Still, there are signs that the jobs report...

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Wall Street reversed its three-day sell-off overnight on renewed US-China trade hopes as investors piled back into the global recovery trade. We think that the market probably goes higher, reaching towards the $ 3,200 level based upon the bullish triangle on the daily chart. Overall, this is a time year the typically works out well for stock markets anyway, as...

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Ripple’s XRP has crashed below $0.2200 and touched $0.2089 during early Asian hours. The digital coin is down over 2% in recent 24 hours. Right now the price is floating below the H4 100-day and 50-day SMAs curves. The daily RSI indicator has stays inside the oversold zone, while the MACD indicates increasing bearish momentum, following a period of...

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BoC rate decision is the main focus today. For the past 2 weeks, USD/CAD has been traded in a tight range and while no changes are expected from the central bank, Governor Poloz's speech will be watched closely. He could continue to talk about the possibility of an “insurance cut” in coming months, as uncertainty of trade war persists. If Poloz focuses on the...

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Comments from U.S. President Donald Trump were the catalysts behind latest gold’s rally. Trump raised doubts over U.S.-China trade talks after he said a trade deal with China might have to wait until after the 2020 U.S. presidential election. Now, the next few days will be critical for the yellow metal. If gold finishes the week above $1,500, then the odds...

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The British pound has rallied a bit during the trading session on Monday, reaching higher yet again. At this point, the market is likely to test the 1.30 level above (our TP), which of course has been major resistance. But intraday bias in GBP/USD remains neutral as consolidation from 1.3012 might still extend. The British pound is firming above the 1.2940 level...

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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...

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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,...

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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...

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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...

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Yen trades broadly lower while Australian and New Zealand Dollars strengthen in Asia. Stock markets are cheering better than expected manufacturing data from China. Yen is also additionally pressured by extended rebound in JGB yields. Ultimately, this is a market that continues to be bullish, as we see more of a “risk on” type of behavior out there. ...

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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...

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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...

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Ripple is falling back in the red territory and XRP made a new lifetime low of $0.19638, which is a bearish sign. The straight fall from $0.31519 has plunged the RSI into deeply oversold territory. The crypto asset’s value has been gravitating on a daily chart within a descending channel since June. The channel has been tested severally on both sides....

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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...