Sterling dips mildly as new development puts the prospect of no-deal Brexit back on table. The newly elected House of Commons will likely have its first vote on the Brexit Withdrawal Agreement on Friday, which will likely be passed with the Conservative’s majority. However, it’s reported that Boris Johnson will attempt to include text in the legislation that...
The Gold has been in slightly neutral to bullish trend recently. At this point upwards continuation is possible. Ultimately, this is a scenario that we continue the overall downtrend channel, and of course the H4 50 SMA is just bellow where we are right now. The first resistance is the downside trend line around $1485. In that area are located also the upper...
We're in the week that traditionally Santa's rally begins. Sales of tax losses usually end after the 15th of this month, so the coast is clear. At the same time, no one has forgotten the slaughter in the stock markets, which began at the same time last year. Well, do you believe in Santa and his rally in 2019? Yes, I was an obedient child during the year and I...
The DAX 30 index surged to the highest since January 2018 on Friday following the US-China trade deal. But the index has come-off sharply from there. DAX is likely to trade sideways after the German Manufacturing PMI missed the estimates. Services PMI rose to 52.0, up from 51.7, matched expectations. The nearest support bellow is H4 50 SMA and the middle line of...
The euro is trading lower against the US dollar today, following a strong reversal from the 1.1200 resistance level on Friday. Intraday bias in EUR/USD remains neutral for consolidation below this temporary top. Further rise will remain in favor as long as 1.1039 support holds. A clear break and weekly price close above the 1.1200 level this week should be...
Oil fell from its highest close in almost 3 months after the API inventory reported a build bearish to consciences while uncertainly over the December tariff deferral added to the soft tone. The WTI Crude oil has been trading around 61.8% Fibonacci retracement of its September-October declines and the price action here will determine the next move direction....
Technically, the rebound in the RSI and the pause in MACD’s negative momentum is an encouraging signal for the next move in the price. However, as long as the indicators remain in bearish territory there is always a risk to the downside and therefore a potential for a retest of the 0.6800 area. At this point, we’re still slightly favoring more decline (Sell around...
It was risk-on mood after yesterday Trump teased traders with hope of a US-China trade deal by tweeting “Getting VERY close to a BIG DEAL with China. They want it, and so do we!” If the both sides can’t reach an agreement within the next few days, additional tariffs will be imposed on imported Chinese goods on Sunday, December 15th. If a deal is reached before...
TRON's TRX has settled in a tight range recently. The Relative Strength Index (RSI) avoided the oversold. Looking technically, we will need to see a sustainable move above $0.0148 in order bulls to gain momentum. Once this resistance is out of the way, psychological $0.0150 (H4 100 SMA and the middle line of the daily Bollinger Bands) will be the next target....
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....
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. ...
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...
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...
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...
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...
The LTC/USD pair continue fell down since the its halving in late August. The coin has lost nearly half of its value since that time. Moreover, Litecoin’s hash rate has decreased by almost 70% since the halving, which means that miners are not so happy and motivated to support the network. At the time of writing, Litecoin was down by 0.85% for the last 24 hours....
The DAX30 index currently faces a challenging resistance area at 13,190. The index is holding the rebound from the 23.6% Fibonacci retracement of the October 4 low (13,879) to November 19 high (13,338.25) rally at 12,970. The 55-day moving average has risen to 12,827. Yet the positive slope in the 55-day SMA that increases distance above the 200-day EMA suggests...
Intraday bias in USD/CHF remains neutral as range trading continues. In the bigger picture, medium-term outlook also remains neutral as USD/CHF is staying in the range between 0.9660/1.0237. Until the 0.9841 support (50% Fibo retracement and the lows from Sept. and Oct.) stay intact, the rise from 0.9660 is expected to resume sooner or later. On the upside, the...