Olymp_Trade

03:45

Olymp_Trade

Canadian dollar was rising agains the Japanese yen from the end of August 2019. After correction in October the uptrend continued. The price reached its highest high on October 29-th. Right now it's correction time. Let's look at some technical and fundamental factors. Technical analysis 1. The currency formed some kind of 'bearish engulfing' pattern at its...

Olymp_Trade

At the end of last week, bitcoin showed a record daily growth. BTC quotes soared on 40% from $7500 to almost $10500. The last time a similar price surge was recorded in 2015. It was not possible to stay above the psychological level of $10000, nevertheless, a bullish impulse was able to break through the downtrend line (red line), in which BTCUSD has been traded...

05:14

Olymp_Trade

On Wednesday 30-th FOMC took its decision about the interest rate. The interest rate was decreased to 1,75%. Right now EUR/USD is near its maximums. The question is 'What's next?' Technical analysis From the technical side the picture is the following: 1. 200-EMA is heading down 2. Parabolic SAR reversed 3. MACD histrogram is heading down 4. The price is...

02:32

Olymp_Trade

The main agenda on today’s calendar is the interest rate decision in the United States. The United States Federal Reserve is highly expected to ease monetary policy for the third, consecutive time this year from 2% to 1.75%. Today, the ADP Nonfarm payroll report was ahead of expectations – 125K. GDP is also better than expected, although at a low level of...

01:50

Olymp_Trade

On a Daily time frame for GBPJPY, the British Pound rose a little against the Japanese Yen but could not get past resistance at 61.8% Fibo, around 140.343. The 200EMA is now acting as support at the 50% Fibo level, around 137.707. RSI is slightly below overbought, and ADX is showing us a strong Bullish trend. Being mindful, that Sterling cross currencies will...

02:04

Olymp_Trade

Technical Analysis CAD JPY Daily TF. CAD Bulls succeeded their attempt to break above trend line down resistance on the third try – October 11th. The price has broken above the 200EMA. Currently resting at resistance around 83.219. Mid-range 50 EMA is pointing slightly up. ADX is showing a strong trend, while RSI is close to, but not yet in the overbought...

02:14

Olymp_Trade

Starting from the beginning of October Euro was rising but on October 21-st the situation changed. Technical analysis Euro broke the trend line down and started falling again. Simultaneously 9-EMA was broken down too. MACD lines are close to intersect each other. Parabolic SAR is close to Japanese candlesticks too, confirming the possibility of the...

05:24

Olymp_Trade

Starting from September 'Cable' is rising. After the correction till the beginning of October the uptrend continues. On October 21-st the British pound reached its resistance line (1,30000). BUT there are several disturbing factors that may prevent the correction. Fundamental factors: On Friday 25-th 27 EU Ambassadors are discussing BREXIT extension again and...

03:12

Olymp_Trade

The pair has been rising since the beginning of September. Now, there is a possibility of a reversal. Technical analysis: On 1W TF Euro has almost reached the trend (resistance) line, which is heading down On 1D TF indicators are reversing slowly. MACD Histogram started falling down, 9-EMA started curving - it means that we might see the intersection between...

04:55

Olymp_Trade

The Switzerland's currency was rising starting from 4-th October and now we see the possibility of a reversal Technical factors: there is a bearish engulfing candlesticks patter which was formed on the top of the trend the price is testing the trend line with the possibility of a reversal MACD lines are widening - this is the preliminary signal to sell Summary:...

03:02

Olymp_Trade

In the United Kingdom, Queen Elizabeth II opened the new session for British Parliament with a speech outlining the government’s plans. The 2-day European Summit kicks off on Thursday October 17th, where Prime Minister Johnson will try to seal a Brexit Deal. When he returns to Britain, an emergency meeting will take place in the House of Commons for parliament to...

01:51

Olymp_Trade

On the 4HTF, GBPJPY is taking Fibo levels one by one, yesterday rising from the 23.6% Fibo level and closing above the 38.2% Fibo. Today the pair broke above the 50% Fibo level at 136.522. Moving averages are intertwined and pointing straight up, showing us a massive rally. The pair has stalled at a strong area of support / resistance where the price spent most...

03:42

Olymp_Trade

EURUSD on a 4HTF shows up Euro Bulls breaking a key level of resistance acting as the trend line down since the end of June, but stalled and failed to break above resistance at 1.10335. Lower time frames are showing us that the bears are fighting and winning as we see rejection of higher prices and the price is slowly moving back towards the 1.10 level. With the...

01:50

Olymp_Trade

Daily TF on USDCAD shows us a global uptrend. 4HTF – both EMAs (48,13) are pointing slightly up, following a Golden Cross on October 2nd. We are waiting for the price to break above the 61.8% Fibo at 1.33426. Targets up are going to be at resistance, starting with 1.33827 and then 1.34304. If the price breaks the local trend line down and moves below the 50% Fibo...

02:54

Olymp_Trade

Brexit negotiations continue in Brussels. The stage set is rocky confusion. Will the EU compromise on the backstop? If not, will PM Johnson request an extension? In the latest skepticism on how PM Johnson may try to avoid an extension is to attempt to persuade an EU country to veto one. French President Macron mentioned that the European Union will evaluate and...

01:58

Olymp_Trade

Euro Bears attempted to break support at the opening of Mondays session but the move was premature. Dollar weakness prevailed after the possibility of a deal between the United States and China slightly dimmed following a comment from the Chinese delegation. Vice Premier Liu He, will lead the Chinese delegation in high level talks with the US starting on Thursday...

01:00

Olymp_Trade

On a DTF, the pair has formed a double top pattern and the conversion line has just been breached. Parabolic SAR has reversed and is pointing down. The pair is waiting for the release of US Non-Farm Payrolls. Recent data is pointing to the downside and long positions look to be more favorable at this time. Target areas down are at 50% Fibo at 106.462,...

02:19

Olymp_Trade

The pair met support slightly below the 61.8% Fibo (117.447) from the previous up trend and the price is currently consolidating in that vicinity. This morning the Euro Zone reported worse than expected Markit Composite and Services PMI, although both are still above 50, at 50.1 and 51.6 respectively. This worse than expected data did not push the pair lower,...