Technical outlook: Dow Jones closed around 24,633 levels yesterday after printing highs around the 24,890 levels. Today, during market open it is expected to rally towards 25,000 levels before finding resistance. Earlier the Dow Jones index had dropped from 29,600 through 18,200 levels respectively. Since last 4 weeks, it has produced a counter trend rally, […]

Overview: The GBP/USD pair is still trading above the daily pivot point of 1.2445. The GBP/USD pair was moving downwards from the level of 1.2445. Last week, the pair dropped from the level of 1.2445 (this level of 1.2445 is coincided with the pivot point) to the bottom around 1.2245. The pair returned to the […]

The serenity that has encompassed global markets lately will be put to the test next week, when America’s nonfarm payrolls data reveal how much destruction the pandemic has left in its wake. The Bank of England and the Reserve Bank of Australia are unlikely to deliver anything new at their meetings, though both will likely […]

The US 30 stock index (cash) closed positive above the Ichimoku cloud on Wednesday, increasing speculation that the short-term uptrend could further strengthen. A bullish cross of the 20-day simple moving average (SMA) with the 50-day SMA may add to the sentiment if it is finally completed. The fact that the price has yet to […]

Forecast for April 30: Analytical review of currency pairs on the scale of H1: For the euro / dollar pair, the key levels on the H1 scale are: 1.0969, 1.0948, 1.0913, 1.0887, 1.0830, 1.0807, 1.0776. Here, we are following the development of the ascending structure of April 24th. We expect a short-term upward movement, as […]

EUR/USD is trading in the green and it tries to climb higher in the short term as the USD is weaker after the FOMC. The dollar decreases as the USDX has reached new lows, but it remains to see what will happen after the ECB. The ECB is expected to maintain the Main Refinancing Rate […]

USDCHF had a bearish start on Thursday, dropping beneath the 23.6% Fibonacci retracement level of the upward wave from 0.9500 to 0.9800, at 0.9730, and the 20- and 40-period simple moving averages (SMAs). The pair has been in process to create an ascending triangle pattern over the last month with strong upper boundary the 0.9800 round number. In momentum indicators, the […]

US oil giants Exxon Mobil Corp and Chevron Corp are set to announce their first quarter earnings results on Friday, May 1, amid the oil industry facing its worst crisis in a generation. It goes without saying then that both Exxon and Chevron will report a big drop in revenue when they announce their results […]

The current week’s trading occured in a narrow range between two significant control zones. Resistance remains at the WCZ 1/2 0.9777-0.9759. Attempts to consolidate above the specified zone were unsuccessful, so it is necessary to keep sales open this week. Today’s move could be decisive for next week. If trading closes below the WCZ 1/4, […]

In terms of the complex analysis, we can see that trading is concentrated in the range of the previously specified levels. Now, let’s get to details. Who could have thought that the technical correction from 1.0727 can last for so long. The quote fluctuates within 1.0815//1.0850//1.0885 and repeats the scenario of April 16-21. If we […]

WTI oil futures for June delivery have been moving back and forth since the plunge to 6.62 last week, forming a double bottom pattern around the 10.00 level on the four-hour chart. The bullish reversal pattern, however, needs a confirmation above the neckline that is placed around the 18.00 mark to turn valuable. Currently, the momentum indicators are painting a […]

Today we take a look at GBPUSD and see how we are going to play the bounce! We use Fibonacci retracements, extensions, support/resistance, momentum and trend lines to identify trading opportunities in this exciting pair today! The material has been provided by InstaForex Company – www.instaforex.com

Technical analysis recommendations for EUR/USD and GBP/USD on April 30 Economic calendar (Universal time) Fairly extensive statistics on the Eurozone are observed in the morning today. Among the data, one can single out the most significant indicator – the consumer price index (9:00). Further, decisions and news from the ECB at 11:45 (+ ECB press […]

GBPJPY has been in a descending move since it touched the one-month peak of 135.70. Currently, the price is revisiting the 23.6% Fibonacci retracement level of the down leg from 135.70 to 124.00 at 132.97 – which stands near the short-term falling trend line and the Ichimoku cloud. Looking at the technical indicators, the MACD […]

Let’s be honest, as the coronavirus epidemic recedes into the background, not just the importance of macroeconomic statistics is growing, but the importance of American statistics is also growing. And it has at least some weight. European statistics are persistently ignored. Of course, we can say that only pan-European statistics are relevant, and data for […]

Global stocks extend gains on potential treatment for coronavirus and dovish Fed But Trump’s China blame-game caps gains Powell signals more stimulus may be needed, puts dollar on backfoot ECB next on the agenda; will it pump more stimulus? Remdesivir boosts stocks again despite question marks Positive results from two clinical trials on the effectiveness […]

Global stocks extend gains on potential treatment for coronavirus and dovish Fed But Trump’s China blame-game caps gains Powell signals more stimulus may be needed, puts dollar on backfoot ECB next on the agenda; will it pump more stimulus? Remdesivir boosts stocks again despite question marks Positive results from two clinical trials on the effectiveness […]

AUDUSD has been printing fresh highs over the past three days, with the pair registering another one at 0.6569 early on Thursday. The short-term risk is overall positive as the price is rising comfortably above the Ichimoku cloud and higher than the upward-sloping 20-day simple moving average (SMA) which has recently posted a bullish cross […]

AUDUSD has been printing fresh highs over the past three days, with the pair registering another one at 0.6569 early on Thursday. The short-term risk is overall positive as the price is rising comfortably above the Ichimoku cloud and higher than the upward-sloping 20-day simple moving average (SMA) which has recently posted a bullish cross […]

The pair traded upward on Wednesday but failed to break through the level of 1.2494 – a 61.8% pullback level (presented in a red dotted line) then it moved downwards. Today, an upward movement is likely to take place. Economic calendar news for the dollar is expected at 12:30 UTC. Trend analysis (Fig. 1). Today, […]

USDJPY has lost extra ground past the lows of 106.91 after having failed to overcome the mid-Bollinger band last week. Presently the price is resting at the 106.44 level, that being the 50.0% Fibonacci retracement of the up leg from the 41-month low of 101.17 to the 111.71 high and where the lower Bollinger band […]

USDCAD came close to ending the day near the 1.3850 support level, near the lower surface of the Ichimoku cloud, posting a strong sell-off session. This movement drove the simple moving averages (SMAs) to complete a bearish crossover in the short-term, and the technical indicators to head sharply lower. The stochastic is hovering in the […]

(Disclaimer) The material has been provided by InstaForex Company – www.instaforex.com

AUD/USD The Australian dollar added more than 60 points on Wednesday and went above one of the lines of the price channel on the daily chart. At first glance, the price is ready to go higher and work out the target level of 1.6672 (the low of October and August 2019), but convergence is forming […]

USD/JPY The Japanese yen did not gain a foothold under the trend line on its first attempt, opening the way to a decline to 102.40. The second attempt may occur by overcoming yesterday’s low of 106.37. Specifications for the past day have not changed, the pair is under pressure. The price develops in the range […]