EUR/USD on a Daily TF has hit multiple resistance targets. The price is currently using 23.6% Fibo as resistance and 1.11 as support – trading around 1.11045.
Investors and traders are waiting for a breakthrough on phase one trade deal between United States and China.
On Monday, the U.S. saw a decline in ISM Manufacturing PMI 48.1, on Wednesday ADP Non-farm...
Conservative Boris Johnson is leading in the UK election according to opinion polls with 43%, Labour Jeremy Corbyn is behind with 33%.
The UK will head to the polls next Thursday December 12th. On the same day we also have the release of ECB Interest Rate, the first since Christine Lagarde became president.
EUR/GBP on a Daily TF dropped to 0.84302, the lowest...
The US Dollar index traded sharply lower on Monday. President Donald Trump restored Tariffs on steel and aluminum shipped from Brazil and Argentina ‘effective immediately’. He then went on to criticize the strength of the USD and recurrently call on the FED to lower interest rates. Weak manufacturing data did not help the greenback.
EUR/USD on a Daily TF shows...
This Monday marks the first trading day of the last trading month in 2019. We have the release of Manufacturing PMI from China, Eurozone, United Kingdom as well as the United States.
China’s Caixin Manufacturing PMI for November was released at 51.8, above the forecast of 51.4. Eurozone PMI was reported above forecast at 46.9, there is improvement in factory...
EUR/USD has had a bearish week. The European economy is in a tough place, economic growth is stagnant, the new ECB President Lagarde is urging European countries, especially with budget surplus, to increase spending to help the economy rebound. The UK general election and Brexit is coming up fast, and opinion polls suggest Conservative victory with parliament seat...
The British Pound rose on statistics published by YouGov. YouGov is an international research data and analytics group headquartered in London that closely predicted the 2017 election. The poll suggested that Tories will win a majority of 68 seats in the Dec. 12th election.
The economic calendar is light, tomorrow morning at 10am GMT we have the release of...
The United States had a big release today before they enjoy their Thanksgiving Holiday.
Durable Goods orders MoM for October were released at 0.6%, instead of -0.5% forecast.
Preliminary GDP for 3Q also came above forecast, at 2.1% ahead of 1.9% forecast
Initial Jobless Claims were also reported at a better than expected 213K, below the forecast of 223K....
EUR/USD on a Daily TF is trading slightly lower. The price broke below the 50% Fibo and Ichimoku Cloud, currently trading around 1.10125. Parabolic SAR is close to a reversal and MACD bearish histogram is increasing.
Today the pair is driven by trade deal optimism. On Friday, President Donald Trump mentioned that ‘ The China deal is coming along very well ’ at...
CAD/CHF tested maximums on 28-th October and reversed down. We think that we are dealing with the correction Elliott wave. Highest highs that appeared on 7-th and 19-th November let us draw a trend line, which is heading down. On 22-nd November the pair tested the resistance line for the second time. There is the possibility that downtrend will continue....
As we have already told you EUR/USD went down and tested the lowest low at the level of 1,09939 (61,8% Fibo correction). Right now we are dealing with the correction. EUR is rising against the USD, but we think that the potential of this growth is quite restricted.
Technical analysis (1D TF)
The currency broke 9-EMA up
MACD lines intersected each other
After testing the level 0,91000 Australian currency reversed and started falling down. We might expect that the downtrend will go on.
Trend indicators are heading down
MACD and DMI lines are confirming the bearish trend: MACD lines and DMI lines intersected
Parabolic SAR is ready to reverse
The target may become 0,89000
On the news that Reserve bank of New Zealand decided to leave the interest rate on the same 1,00% NZD is strengthening against all other currencies and, of course, it is strengthening against CAD.
On 1W TF after reaching its lowest low levels (support line) 0,83372 NZD reversed and started rising. Local trend line was broken up.
CAD/JPY is in its bearish trend for a long period of time. Thus short positions look more attractive right now. In a short-term period, starting from October the 3-rd canadian dollar was rising against JPY but after reaching its highest high at the end of October, correction started.
On November 11 -th the pair broke the local trend line down...
AUD/USD - the pair that has been remaining in the bearish trend for a very long time. Starting from October we saw the local growth in Australian currency, but after a while the downtrend continued.
Australian retail sales last week were worse than the forecast (growth by 0,2% against the forecast +0,5%)
Despite this fact RBA took the...
NZD is weakening against the USD. Here are several factors that may affect the price of the currency
The most important news for the next week is being released on Wednesday
RBNZ interest rate decision is beign published at 01 a.m. GMT
Also Core CPI and CPI in the US is published at 1:30 p.m. GMT
At 4 p.m. Fed Chair Powell will...
The pair tested 38,2% Fibo level, which is on 1,10647. The breakthrough didn’t come true. Before the pair continue to fall down, the short correction is possible. The pair may bounce back to the level 1,11000.
1. Williams %R has left the oversold zone
2. Parabolic SAR reversed
3. MACD lines are close to intersect each other
After the BREXIT extension our point of view on GBP/USD has changed and became more neutral. Right now political factors are dominating. We remind you that on December 12-th there are elections in GB.
The situation in the British economy is not so optimistic:
1. Inflation dropped to 1,75% (January 2017 levels);
2. Production is slowing down;
NFP and Unemployment rate were released on Friday. Unemployment rate was released at +3,6%. NFP grew by 128K. Average hourly earnings increased by +0,2%. As we expected the US dollar rose but then the uptrend continued
ISM Manufacturing PMI continues deteorating. The ratio has been remaining below 50 for 3 month already. Factory orders,...