Technical analysis of Forex market

The EUR/AUD is making a 1-2-3 hook pattern and we should see a move down. Sellers are here. After a retracement, the pair has come to W H3 camarilla pivot ...
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Spot gold holds in red for the second straight day and extends lower after bulls failed to register a clear break above key barrier at $1755 (Mar 18 high) and ...
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USDJPY’s recent pullback from the 1-year high of 110.96 seems may not have the necessary potency to successfully overpower the positive bias. The advancing 100- and 200-period simple moving averages ...
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The US dollar is still struggling for directiona against the Canadian dollar, despite last Friday’s very strong monthly jobs report from the Canadian economy. The lower time frames currently show ...
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The BOC will take note of the strong employment print, as they are currently the frontrunner to taper monetary policy!The Canadian Employment Change for March was +301,100 vs and expectation ...
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NZDUSD has consolidated over the somewhat neutral Ichimoku cloud, after slightly improving from a recently formed floor at the 0.6942 level. The falling 200- and 100-period simple moving averages (SMAs) ...
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Dow Jones Index (US 30) is building a bull flag continuation chart pattern within a larger uptrend. A bullish breakout should confirm a push higher. The US 30 chart needs ...
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Cable extends weakness into the fourth straight day and tested key support at 1.3670 (Mar 25 low / 100DMA) in early European trading on Friday. Bears emerged from daily cloud ...
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The US 100 index is stabilizing around the record high of 13,904, pausing the strong upside tendency. The technical indicators, though, are sending mixed signals, suggesting that the softness in ...
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USDCAD is struggling to tick higher after its recent positive propulsion off the 37½-month low of 1.2365. The descending simple moving averages (SMAs) are imposing the predominant bearish bias. Additionally, ...
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The US dollar is pressing towards the 1.2600 level against the Canadian dollar, ahead of today’s monthly jobs report from the Canadian economy. A weaker jobs report could cause the ...
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The US dollar has bounced back fairly sharply against the Japanese yen currency after bulls stepped in from the 109.00 support level. Bearish MACD price divergence has now been reversed, ...
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STOCKSEquities remain mixed and are consolidating at higher levels. Broadly we remain cautious on the equities and will be looking for a corrective fall after this consolidation. Dow has to ...
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WTI oil futures have moulded a strong base from 57.25 to 58.10 and are consolidating around the 60.06 mark, which happens to be the 23.6% Fibonacci retracement of the up ...
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Traders need to consider when the “pricing in” of the vaccine has reached its peakThe theme driving the Euro this week has been one optimism. After months of lockdowns and ...
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STOCKSDow remains stable below 33500 and has to fall below 33000 in order to strengthen the case of seeing the fall to 32000-31000 that we have been expecting. DAX seems ...
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European vaccines will soon be on the move! As discussed yesterday in analysis of EUR/GBP, the European Union expects to have a majority of its citizens vaccinated by the end ...
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During the second part of Tuesday’s trading, the yellow metal’s price reached the resistance zone just above the 1,745.00 level. The metal immediately bounced off it and retraced back down ...
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STOCKSResistance at 33550 on the Dow is holding in line with our expectation. A break below 33000 can trigger the expected corrective fall. DAX has room to test 15500-15700 on ...
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Spot gold rose to the highest in more than one week on Tuesday, resuming recovery leg from $1677 (Mar 31 low) after bulls took a breather on Monday. Fresh weakness ...
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The S&P index is consolidating under new record high, posted after 1% rally on Monday, sparked by upbeat US data. A survey showed a measure of US services industry activity ...
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WTI oil futures are currently tackling the direct support zone of 58.86-59.58 on the four-hour chart, although remain within a ranging market between the confines of 57.25 and 62.24. The ...
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The Euro jumped to a one-week high as the dollar was sold in early US trading on Monday. Fresh strength adds to hopes that recovery may pick up after Friday’s ...
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EURUSD’s correction below the 200-day simple moving average (SMA) is transmitting a growing bearish tone. The falling 50-day SMA appears to be heading for a bearish crossover of the 200-day ...
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USDCHF’s attempts to navigate towards the looming long-term restrictive trend line may not be in vain, even though its positive spark seems to be fading. As mentioned, the bullish impetus ...
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The US30 stock index (Cash) has currently crept over the all-time high of 33,253 and is headed for the 33,638 level, which happens to be the 261.8% Fibonacci extension of ...
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GBPJPY is sustaining its upward trajectory reaching a 35½-month high of 153.20, and bearish powers seem to be incapable of overthrowing the uptrend. The soaring simple moving averages (SMA) are ...
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Spot gold extends strong rebound into second consecutive day after another short-lived probe below psychological $1700 level. The yellow metal advanced over 2.5% in two days, lifted by lower dollar ...
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The pair eases further on Friday following Wednesday’s upside rejection and Thursday’s close in red (the first in seven days) as Japanese traders collected some profits ahead of the weekend ...
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WTI oil rose over $2 on Friday and returned above $61 per barrel, lifted by the decision of OPEC+ group to extend production cuts, implemented after oil prices collapsed during ...
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USDCAD is touching the descending trend line after the jump above it in the previous week. The price is returning lower after the pullback off the 1.2645 resistance, remaining within ...
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The Euro is trading within tight range in early Friday, due to holiday-thinned volumes, following a two-day bounce from new multi-month low at 1.1704. Fresh risk mode in the market, ...
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Key Highlights USD/JPY gained bullish momentum and it cleared the 110.00 resistance. There was a break above two bullish continuation patterns near 108.70 and 109.75 on the 4-hours chart. The ...
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The dollar extends consolidation into second day as bulls take a breather under new five-month high (93.45). Lower volumes in pre-holiday trading and higher than expected US jobless claims, could ...
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The Australian dollar was among the top losers of the Asian session on Thursday, as bears extended to new 3 –1/2 month low (0.7531). Disappointing economic data, released overnight, added ...
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STOCKSDow is struggling to get a strong follow-through rise above 33000 and looks vulnerable for a fall from here itself without seeing an extended rise. It will have to be ...
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The US Dollar started a strong increase from the 108.80 support zone against the Japanese Yen. The USD/JPY pair broke the 109.00 and 110.00 resistance levels to move further into ...
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Cable bounces in European trading on Wednesday after data showed the UK economy grew above expectations in Q4 2020 and current account deficit, although widened below forecasts. The recovery of ...
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STOCKSDow has to sustain above 33000 to see an extended rise to 33450-33500 before a reversal. Else a fall can happen from here itself. DAX is at its crucial resistance ...
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In our Week Ahead for last week, we highlighted the daily US Dollar Index (DXY) as the Chart of the Week. We noted that price had broken out of a ...
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USDTRY rose to one-week high on Tuesday and is on track to fully retrace a partial recovery from last week’s 8.5015 high. Lira remains under increased pressure since the most ...
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Key Highlights GBP/USD is correcting higher from 1.3670 and it climbed above 1.3750. A crucial bearish trend line is forming with resistance near 1.3880 on the 4-hours chart. EUR/USD is ...
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Spot gold accelerated lower on Monday, losing around 1% in early US trading, as demand for safe-haven yellow metal was hit by stronger dollar and rising hopes for fast global ...
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Gold is currently tiptoeing sideways after its recent bounce off the critical support base of 1,660-1,682, where it produced a nine-month low of 1,676. The falling 50- and 100-day simple ...
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Yields and Yen are not friends. They actually have been running away from each other lately. However, this dysfunctional relationship has led to some nice profits for bond and Yen ...
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USDCHF is tackling the 0.9414 level, which happens to be the 123.6% Fibonacci extension of the down leg from 0.9375 to 0.9213. The soaring simple moving averages (SMAs) are nurturing ...
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As we noted in yesterday’s analysis of EUR/USD, the US dollar has been on tear over the last month, reversing its trend of relative weakness over the previous three quarters ...
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The US 30 stock index’s (Cash) recently found foothold at the 32,068 level has elevated its price into the vicinity of the 50-period simple moving average (SMA). In spite of ...
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Strong bullish acceleration extends into second day and breaks through Fibo barrier at 109.56 (76.4% of 111.71/102.59), on track for eventual weekly close above 200 WMA (109.31) that would add ...
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GBPUSD has recorded a stunning rally since yesterday, finding support at the seven-week low of 1.3670. The price advanced above the 20-period simple moving average (SMA) in the 4-hour chart, ...
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The decline of the EUR/USD continued, as the 1.1800 level was passed on Thursday and the rate reached the 1.1762 level. The rate rebounded from the 1.1762 mark and began ...
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The support of the 1.3670/1.3675 zone was enough for the currency exchange rate to break the channel down pattern. Moreover, by the middle of Friday’s trading, the rate had passed ...
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Rally from September 21, 2020 low in $GBPJPY is unfolding as a 5 waves impulse Elliott Wave structure. Up from September 21, 2020 low, wave (1) ended at 140.7 and ...
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The GBP/CAD is having a retracement. A temporary low close to D L5 camarilla has been formed. If the market retraces, we should see a move towards 1-2-3 entry at ...
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The Swiss Franc has edged lower by 213 pips or 1.80% against the Japanese Yen since last week’s trading sessions. The exchange rate breached the 50– and 200– period SMAs ...
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DAX Short term Elliott Wave View suggests that the rally from January 28, 2021 low is unfolding as a 5 waves impulsive Elliott Wave structure. The Index ended wave 3 ...
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EURUSD is creating several sessions of losses in the 4-hour chart, recording a fresh four-month low marginally above the 1.1800 handle earlier today. The price started a strong negative movement ...
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USD/JPY is creating a sideways correction after a massive impulse upwards (blue arrow). The bulls are expected to push price action even higher. The USD/JPY bullish momentum is probably a ...
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Key Highlights USD/CAD recovered nicely above the 1.2450 and 1.2500 resistance levels. A crucial bearish trend line is forming with resistance near 1.2600 on the 4-hours chart. EUR/USD and GBP/USD ...
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The Australian dollar fell to two-week low on Tuesday, pressured by fresh risk-off mode as new Covid lockdowns and worries about vaccination slowdown boost concerns about global growth while a ...
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WTI futures have come under renewed selling pressure, falling back below the short-term simple moving averages (SMAs) after the pullback off the 62.00 handle. Despite the latest down move, the ...
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We have a few topics that will drive the markets this week. First is coming from Turkey after Erdogan has fired the central bank governor after they increased rates on ...
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USDTRY shifted aggressively to the downside after spiking towards a fresh four-month high of 8.4647 earlier today. The price is trying to recoup the positive gap which was posted during ...
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Despite an improvement in retail data, the Canadian dollar came under pressure as the price of oil tanked. The RSI divergence from last week indicated a loss of momentum in ...
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When the ECB met last week, Christine Lagarde and friends said that the ECB would significantly pick up the pace of bond buying under its Pandemic Emergency Purchase Program (PEPP) ...
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WTI oil trades within a choppy consolidation on Friday but remains biased lower following a massive losses on Thursday, when the price fell by 7.6%, making the biggest one day ...
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The dollar kept firm tone against the basket of major currencies on Friday, following previous day’s rebound that almost fully reversed Wednesday’s post-Fed fall. Investors digested Fed’s dovish stance on ...
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Crude oil price started a sharp downside correction after it failed to settle above $65.00 against the US Dollar. The price broke the $64.00 support zone to move into a ...
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USDCAD’s recent positive impetus off a multi-year low has been muted by the Ichimoku lines, while the capping 50-day simple moving average (SMA) and the lingering Ichimoku cloud overhead have ...
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The US dollar has recovered sharply higher against the Canadian dollar after oil price crashed by nearly ten percent from the weekly highs. The USDCAD pair has moved back towards ...
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The US dollar is starting to slide against the Japanese yen currency after the Bank of Japan meeting revealed that the central bank carved out more flexibility for fighting inflation ...
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Despite piercing the support of the 1.1910/1.1915 zone, the rate did not decline, as it found support in the 1.1900 level. During the morning hours of Friday’s European trading, the ...
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STOCKSThe rise after the US Fed meeting has not sustained. The global equities have failed to get a strong follow-through buying thereafter. This keeps our broader cautious view of seeing ...
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EURUSD has nosedived below the Ichimoku cloud’s lower band at 1.1932 and is flirting now with the 50-period simple moving average (SMA) around 1.1921. The 100-period SMA, which recently curbed ...
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NZDJPY is testing the upper Bollinger band around 79 after successfully cracking the recently formed ceiling of 78.65. Nevertheless, momentum indicators have receded slightly in recent days. The fast-moving %K ...
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NZDJPY is testing the upper Bollinger band around 79 after successfully cracking the recently formed ceiling of 78.65. Nevertheless, momentum indicators have receded slightly in recent days. The fast-moving %K ...
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Short term Elliott Wave View suggests that AUDUSD ended wave ((4)) pullback at 0.7617. Pair however still needs to break above wave ((3)) high at 0.8007 to avoid a double ...
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USDZAR remains stuck in a sideways range both in the short and medium terms, with prices struggling to gain traction below the thin Ichimoku cloud. Aside from the cloud bottom ...
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Gold bounced off 1,699 to fight the tough wall around 1,740 on the four-hour chart, which has been a crucial obstacle to upside movements since the start of the month ...
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Key Highlights Crude oil price traded to a new multi-month high at $67.92 before correcting lower. A key bearish trend line is forming with resistance near $65.60 on the 4-hours ...
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USD/JPY could see a pullback over the next few days ahead of the FOMC and BOJ meetings The BOJ has been providing monetary stimulus to Japan for years in the ...
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The EUR/USD currency pairTechnical indicators of the currency pair: Prev Open: 1.1948Prev Close: 1.1926% chg. over the last day: -0.18% The euro continues to decline gradually, but at the same ...
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Crude oil is turning down despite after OPEC+ countries agreed to extend the majority of production cuts through April. We saw price spiked highe after that news and it is ...
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Gold found support in the 1,700.00 price level. It resulted in a surge, which by the middle of Monday’s European trading hours had reached above the 1,730.00 level. In the ...
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The New Zealand Dollar declined by 66 pips or 0.92% against the US Dollar on Friday. The decline was stopped by the lower line of an ascending channel pattern during ...
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After the less dovish Bank of Canada meeting on Wednesday in which Tiff Macklem said that the outlook on Q1 GDP will be revised higher, the Canadian employment data helped ...
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AUDJPY keeps roaring higher, hovering near the three-year high of 84.95 that was reached last month. The price structure of higher peaks and higher troughs remains uninterrupted, while the pair ...
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Cable fell one full figure in European trading on Friday, following repeated rejection at psychological 1.40 barrier, deflated by stronger dollar on rise of US yields, with UK economy’s contraction ...
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GBPUSD has come under renewed selling interest today around 1.3900, diving below the 100-period simple moving average (SMA) in the 4-hour chart. The price is hovering in the Ichimoku cloud ...
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The AUD/JPY is in uptrend but the point 2 of retracement showed a nice move down. We could assume that we might see a further drop. The POC zone 84.30-84.60 ...
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EUR/NZD has made a bullish bounce at the -27.2% Fibonacci target. Is this pair ready for a larger reversal after its 3,500 pip decline? The EUR/NZD downtrend is not officially ...
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The yellow metal found resistance in the 1,740.00 level, which was enough for it to decline. The decline was only slowed down by the 55-hour simple moving average. However, eventually ...
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GBPJPY in the last nine days has logged only one bearish doji candle and it seems set to push to new heights as upside pressures continue to overpower. It appears ...
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Short term Elliott Wave View suggests that EURUSD ended wave ((4)) pullback at 1.1834. Internal of wave ((4)) unfolded as a zigzag Elliott Wave structure where wave (A) ended at ...
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EURGBP is currently crawling across the floor of 0.8538-0.8557, the latter being a 1-year low on February 24, where the pair rejected the level. The gliding simple moving averages (SMAs) ...
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The Swiss Franc has been declining in a descending channel pattern against the Japanese Yen since the middle of February. The currency pair fell by 1.06% during last week’s trading ...
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Key Highlights USD/CHF traded as high as 0.9375 before correcting lower. There was a break below a key bullish trend line with support at 0.9315 on the 4-hours chart. EUR/USD ...
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The Australian dollar gained traction after soft US inflation data and probing above the top of near-term congestion, limited by 55DMA (0.7720). Fresh recovery attempts after repeated failures to clearly ...
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Despite passing the resistance of the 1.1900 mark, the EUR/USD did not book large gains. The 1.1915 level provided resistance and stopped the rate’s surge. It was spotted on Wednesday ...
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Key Highlights AUD/USD declined from well above 0.7900 and tested 0.7620. A key bearish trend line is forming with resistance near 0.7735 on the 4-hours chart. EUR/USD declined to 1.1835, ...
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Spot gold rose from new nine-month low ($1676) on Tuesday, as dollar bulls are pausing and technical studies on daily chart are oversold, providing temporary support to the metal. Overall ...
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Bulls are taking a breather on Tuesday, following strong bullish acceleration in past eight days which peaked at 109.23 today (the highest since June 8), but faced headwinds from 200WMA ...
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AUDUSD’s intact negative trajectory, from a 3-year high reached at the end of February, has paused around the area between the latest lows of 0.7621 and 0.7635 respectively. The falling ...
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The US 500 index (Cash) is trading below the record high of 3,963.58, flirting with the 20- and 50-day simple moving averages (SMAs). The momentum indicators are suggesting a downside ...
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The US 500 index (Cash) is trading below the record high of 3,963.58, flirting with the 20- and 50-day simple moving averages (SMAs). The momentum indicators are suggesting a downside ...
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The US 500 index (Cash) is trading below the record high of 3,963.58, flirting with the 20- and 50-day simple moving averages (SMAs). The momentum indicators are suggesting a downside ...
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The US 500 index (Cash) is trading below the record high of 3,963.58, flirting with the 20- and 50-day simple moving averages (SMAs). The momentum indicators are suggesting a downside ...
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The US 500 index (Cash) is trading below the record high of 3,963.58, flirting with the 20- and 50-day simple moving averages (SMAs). The momentum indicators are suggesting a downside ...
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The US 500 index (Cash) is trading below the record high of 3,963.58, flirting with the 20- and 50-day simple moving averages (SMAs). The momentum indicators are suggesting a downside ...
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EURUSD is diving further below the 1.1900 psychological level, approaching the lower surface of the upward sloping channel. The selling interest started after the pullback off the 1.2240 resistance, taking ...
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GBPUSD improved off the 200-period simple moving average (SMA) around 1.3830, after the correction from the 34-month peak of 1.4236 spiked below it and near the low of 1.3775. The ...
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The US 30 index (cash) gave up some ground after unlocking a new record high of 32,072 near the key resistance line, which connects all the peaks from June onwards ...
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JPMorgan’s stock has been quite progressive since the start of November, making higher highs and higher lows within uncharted waters. The situation, however, is currently looking bleak on the four-hour ...
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EUR/USD is clearly breaking the long-term support trend line and daily 21 ema zone. How important is this bearish breakout? A downtrend was confirmed with the bearish breakout below the ...
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Cable dropped to three-week low on Friday, after breaking below five-day congestion, capped by 1.40 barrier. Fresh strength of the US dollar added pressure on sterling to extend pullback from ...
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At 17:00 GMT on Thursday, the head of the US Federal Reserve Jerome Powell started a speech. During the speech he revealed that the current US monetary stimulus would remain ...
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The GBP/USD started to test the resistance of the 200-hour SMA, as it finally pierced the resistance of the 1.4000 mark. However, at that time the head of the US ...
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The USD/JPY extended its surge and did not retrace back to the 55-hour SMA. Instead, the currency exchange rate surged and by the middle of Friday’s trading had reached the ...
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STOCKS Equities remain under pressure. Dow has declined below 31000 and has room to test 30000. DAX remains stable within its 13800-142000 range for now. But the bias is bearish ...
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USDCHF found new buyers above the 200-day simple moving average (SMA), advancing its bullish impulse towards a fresh six-month high of 0.9236 on Thursday. The buying appetite in the market ...
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Precious metals have taken a toll as the greenback made a comeback. Silver is trying to hold on to its near-year-long rising trendline, and a successful bounce could resume the ...
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STOCKS Asian equities are trading in the red and keep alive the chances of seeing a sharp fall going forward. Nikkei can fall to 28000-27000 while it remains below 30000 ...
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The Swiss Franc and the US Dollar Index (DXY) have been highly correlated this year, with a correlation coefficient above +0.90 for most of the year. The correlation coefficient of ...
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EUR/USD is showing signs of indecision: the bearish price action was stopped at the 1.20 support level and trend lines (green). What is going on with this pair? The bullish ...
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Key Highlights Gold price started a fresh decline below the $1,800 and $1,780 support levels. A key bearish trend line is forming with resistance near $1,780 on the 4-hours chart ...
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USDCAD is somewhat caught between the 200- and 50-period simple moving averages (SMAs) after the impressive rally from the 3-year low of 1.2467, pulled back under the 200-period SMA. The ...
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The euro currency continues to slide against the US dollar on Tuesday, with the pair now testing towards the psychological 1.2000 level. A break under the 1.2000 level is likely ...
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The US 500 index (Cash) is trying to conquer the region from the 50-period simple moving average (SMA) until the 100-period SMA, after a foothold at the 3,788 level repowered ...
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Cable stands at the back foot on Monday and remains below 1.40 mark after losing around 1.5% in past two days. Increased demand for dollar pushed sterling lower after bulls ...
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The yellow metal’s price has broken the descending wedge pattern and almost immediately dropped to the 1,720.00 level. However, afterwards a recovery started and on Monday morning, the price was ...
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With the US Dollar screaming higher today, it’s no surprise that Gold is moving aggressively lower. In theory, the US Dollar and precious metals move inversely to one another. The ...
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Since November, the EUR/TRY exchange rate has been trading within a falling wedge pattern. From a theoretical perspective, it is likely that the currency pair could continue to depreciate within ...
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Since the beginning of January, the EUR/PLN currency pair has been trading within a falling wedge pattern. From a theoretical point of view, it is likely that the exchange rate ...
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Yesterday, the EUR/USD currency pair reversed south from the psychological level at 1.2240. It is likely that the exchange rate could be pushed down by the resistance area formed by ...
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The GBP/USD exchange rate has declined to the 1.3900 level. It is unlikely that some upside potential could prevail in the market due to the resistance area formed by the ...
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On Thursday, the USD/JPY currency pair exceeded the weekly R1 located at 106.17. It is likely that now the pair could gain support from the given pivot point and the ...
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During Friday morning hours, the XAU/USD exchange rate was testing the lower boundary of the falling wedge pattern. From a theoretical point of view, it is likely that the price ...
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As expected, Gold has made the move lower to 1755 zone. The downtrend is expected to continue towards 1720. If the market makes a pullback to the 78.6-88.6 zone we ...
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STOCKS Equities seem to be coming under pressure. The resistance at 32000 on the Dow is holding well and a fall below 32000 can give an early sign of a ...
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Fed Chairman Jerome Powell continued with his dovish rhetoric yesterday when he testified on day 2 regarding Monetary Policy in front of Congress. The theme from the Federal Reserve is ...
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Since the end of December, the USD/NOK exchange rate has been trading within a falling wedge pattern. From a theoretical perspective, it is likely that the currency pair could continue ...
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STOCKS Dow has surged to test 32000 as expected. 32000-32200 will be an important resistance zone to watch now to see if a reversal is happening or not. A break ...
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Yesterday, we discussed where GBP could be headed next, given the unveil of the reopening plan for the UK economy. We also discussed how the BOE has become “less dovish” ...
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